Delma Exchange

Delma Exchange is a currency exchange and money transfer company based in the United Arab Emirates. It was founded on 8 October 2019 and is registered at 1001, 10th Floor, One by Omniyat, Business Bay, Dubai. The company provides international exchange solutions for both businesses and private individuals, backed by retail outlets across the UAE.

According to its official website, Delma Exchange focuses on foreign currency exchange, global remittances, and corporate FX risk management. It claims to offer access to over 130 currencies and provides services such as spot and forward contracts. The company targets clients needing cross-border payments and currency hedging.

FXCanary's records show that Delma Exchange has no regulatory licences on file. However, the company's website states it is licensed and regulated by the Central Bank of the UAE under trade license CN-1157848 from the Abu Dhabi Department of Economic Development. This discrepancy is significant: while the company claims regulation, independent verification has not confirmed this. Traders should exercise caution and seek direct confirmation from the regulator.

The company also asserts compliance with Anti-Money Laundering and Counter-Terrorism Financing laws and international standards such as FATF. It mentions operating client segregated accounts and maintaining a Central Bank guarantee, but these claims have not been independently verified.

Delma Exchange provides a range of currency-related services. For individuals, it offers cash exchanges at retail branches and online remittance transfers to countries including the Philippines, India, Bangladesh, and the United States. For businesses, it provides corporate FX risk management solutions, including forward contracts and options to hedge against adverse currency movements.

The company also offers online payment solutions, allowing clients to initiate and track payments 24/7. Its product suite includes spot contracts for immediate exchange and forward contracts for future dates. These services are typical of a money transfer operator rather than a retail forex broker.

Delma Exchange publishes fee schedules for its remittance services. For example, transfers to the Philippines up to PHP 49,999 carry a service charge of AED 15, while larger transfers cost AED 20. Fees to the US, India, and Bangladesh vary by amount. The company notes that charges for money transfer operators like TransFast or Western Union may differ.

Beyond transfer fees, typical currency exchange margins are applied. The company does not advertise spreads or commission rates on its website, so clients should contact the nearest branch for exact quotes. No trading platforms or leverage information is provided, consistent with its money transfer business model.

Delma Exchange primarily serves two groups: private individuals needing international remittances and businesses requiring currency exchange and risk management. The company highlights its partnership with Global Reach Partners and its corporate clientele, such as SIBCA (as a testimonial).

Its services are tailored for those making regular cross-border payments, such as expatriates sending money home or importers/exporters managing currency exposure. Unlike retail forex brokers, Delma Exchange does not offer trading platforms, leverage, or speculative trading accounts.

The company claims to have several measures in place to protect client funds. It states it operates client segregated accounts, meaning client money is held separately from the company's operational funds. It also mentions a paid-up capital requirement and an open guarantee issued to the Central Bank of the UAE.

Additionally, Delma Exchange says it undergoes yearly inspections by the UAE Central Bank to ensure compliance. However, as no regulatory licence has been independently confirmed, these security claims should be treated with caution. Potential clients should verify the company's regulatory status directly with the UAE Central Bank.