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Dax300 Review - is it scam or safe?

Dax300 Review - is dax300.com scam or good forex broker?

RATING: 1.1 / 6 REVIEWS Dax300
Dax300 is an offshore broker. Your money is not safe.

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Trading Accounts and Conditions

 

Account type Min. deposit Min. trade size Maximum leverage Spreads
Basic $250 0.01

1:400

3 pips, fixed
Advanced $2 000 0.01

1:400

3 pips, fixed
Professional $7 500 0.1

1:400

3 pips, fixed
VIP $30 000 0.1

1:400

3 pips, fixed

 

Dax300 offers the above account types, plus an Islamic (swap-free) one. All of them offer leverage up to 1:400 on forex trades and fixed spreads on the MetaTrader 5 platform.



Dax300 Advanatges:

 

- MT5 available

 

The MetaTrader 5 is the latest trading platform released by MetaQuotes. The software developer even announced that it will stop updating and selling the previous version, MetaTrader 4, which has been the industry standard for more than 10 years now.

 

That is why we consider the fact that Dax300 supports MT5 as an advantage. Besides, this platform has basically the same great charting package as MT4, it also offers wide range of automated trading strategies (EAs), technical analysis indicators, and more.

 

>>Top MT5 forex brokers<<

 

High leverage levels

Dax300 provides leverage up to 1:400, which is considered a high ratio, although a number of brokers provide similar or higher ratios. Such leverage ratios allow investors to trade with positions that are 400 larger than the money in their account. The tricky element in margin trading is that it can multiply both profits and losses, so be careful when using high leverage levels.

 

 

Dax300 disdvantages:

 

- An offshore broker

The company allegedly owning and operating this brokerage, Brown Fox Limited, is registered offshore, in the Marshall Islands. IT & Finance administration services, on the other hand, are carried out by Blonde Bear OU, an Estonian company.

 

Forex brokers registered offshore are not to be trusted and therefore we advise traders to stay away from them.

 

 

- High spreads

According to the information on its website, Dax300’ spreads on EUR/USD are fixed at 3.0 pips, which is a very high value. Most fixed-spread brokers offer lower spreads. By comparison, CySEC-regulated broker easyMarkets, offers spreads fixed at 1 pips for this pair . You can find more information on trading costs at our dedicated page:

 

>>Compare the real-time spreads of top brokers<<

 

 

- Market Maker model

Most fixed spread brokers are market makers and Dax300 is no exception. According to its Terms and conditions, the broker acts as a principal in each trade, which means that it sells to its clients when they want to buy and buys from them when they want to sell. It also means that the broker wins when its client loses.

 

 

- Comparatively high initial deposit

Although an initial investment of $250 is not that high in the forex world, a number of trusted and regulated brokers require less as a start. For example, one can open an account with easyMarkets by depositing just $100.

 

 

- MT4 not supported

As we have mentioned above, MT5 is the most recent MetaQuotes software, but it seems that the MT4 remains the favorite platform of most traders. This is partly due to the fact that some MT4 EAs and indicators don’t work on the MT5.

 

 

Conclusion

 

Dax300 offers more than 50 currency pairs and CFDs on indices, commodities, and stocks on the MetaTrader 5 platform. It offers high leverage levels and the option to trade in micro lots. However, we find its spreads too wide. The minimum initial deposit it requires is also relatively high, but what bothers us most with regards to Dax300 is the lack of reliability. It appears to be an Estonian broker registered offshore. Here is a little clarification for those of you who are new to the forex world: offshore brokers face little if any requirements and are not supervised by any authority. They can easily disappear with your money and there is little you can do about it.

 

That is why we advise our readers to invest with brokers that adhere to certain rules and are licensed by reputable financial watchdogs, such as Cyprus’ CySEC or UK’s FCA. These governmental agencies require authorized barkers to report transactions, to keep client funds in segregated accounts, and to comply with many other rules. Besides, both jurisdictions have compensation schemes in place and in case your broker becomes insolvent.

 

>>Trade with a forex broker regulated in Cyprus<<

 

 

Pros Cons
MT5 available Offshore broker
High leverage levels High fixed spreads
  Market maker model
  Initial deposit required comparatively high
  MT4 not supported

 

Latest news about Dax300
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Traders` reviews for Dax300

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Compleat Scam

Invested 250 Euro with one broker he disappeared made the account up to 1200 Eurosby trading myself then a guy called Robert from Blumberg Consultants calls me and puts forward a plan for further investment and we now make the account up to 4200 euros by trading whilst talking about investing 7000 more However to cut a long story short he tried to con me but was unable to give me security for my funds so i refused to invest and then in a few minutes in opened so many trades on my account without my permission and lost all 4200 euro and left 74 euro only

G Withers Green 03/08/2019

reluctant to pay

the company which reluctant to pay withdrawal. now they have changed the name stox50.com

they owe me €250,000 and no one call me let me know whats happening.

Balasingam Nanthabalan 02/19/2019

useless broker

do not invest or you will lose youre money only use regulated brokers you have been warned

paul robbins 12/04/2018

Dax300 - A great fake

I dont like trading. Not interesting for me. Contacted many times by a man called Elia ad his assistant Sara. More than 50 call. Finally I decide to accept to visit the site. No Consob or FCA certificate. they say are in London.... I control... ad the result is that they are registered in Marshall Island and financial operations are from Estonia... I refuse to open an accont. From that moment on I received many calls full of insults like son of bi..., starving, hope all go wrong, basta.. and so on. In my opinion the best thing you can do with this kind of people is to avoid them.

Mauro Sarri 09/12/2018

Dax300 reclamo/ recensione

Ho aperto un conto trading con la Socità Dax-300, con un deposito iniziale di
400 $ sulla piattaforma MT5 conto trtading n. 471045 in data 28 Aprile2018.
Ho aperto questo conto contattato dal Sig. Danis Larson, che mi aveva assicurato che dax-300 è certificata dalla FCA e che per il resto bastava aprire dax-300.com e leggere era tutto indicato,dopo il deposito vado a leggere la presentazione delle Società non c'è nessun numero di licenza. Dei 400$ versati facendo alcune operazioni prima positive poi ne ho preso un paio più pesanti in negativo ho perso 270.00 $ rimanendo con un saldo di 130.00$. Prima di decidere cosa fare, intanto mi viene assegnata una consulente Certa Marta Peroni con una posizione Sky, che ovviamente chiede versamenti per che il saldo rimasto era misero per operare, e mi manda un mandato per gestire il mio conto, io intanto in tre volte verso 1150.00 $, e mi riservo di fare un ulteriore versamento a inizio luglio. Prendo tutte le informazione del caso e mando via Skipe a Marta Peroni copia dei risultati delle mie ricerche: Non certificata da FCA, nessuna Licenza per operare sui mercati finanziari. Lei mi risponde che ho sbagliato a scrivere il nome della Società in quanto le risposte si riferiscono a Dax300 senza trattino.
Rispondo che le informazioni con o senza trattino sono le stesse. Non mi scrive per un pò ma fanno alcune operazioni positive di un 400.00$. Mi chiama senza lasciarmi parlare dicendo che dovevo versare i 100.00 $, senza lasciarmi dire il perchè non intendevo più versare. Dopo due giorni alla fine giugno mi chia Danis Larson, con una aggressività e una ossessione ordinandomi di versare i 1000.00$ senza lasciarmi il tempo di dire il motivo per cui non ci pensavo neanche buttandomi giù il telefono dopo una ora di soliloquio con toni molto alti e aggressivo.
In data 26 luglio revoco il mandato a gestire con decorrenza immediata e chiedo l'accredito dei miei $ liberi pari a 1550,0 versati e 195.40 di utile operativo per un totale di $ 1745,40. In data 27 giugno leggono le mie disposizioni e chiudono l'operazione in piedi, poi immediatamente dopo la riaprono ad un prezzo superiore come me ne accorgo la chiudo con una perdita di $ 77.86, mandando una email con la diffida ad operare ancora.Per un pò non è successo altro poi il 5 luglio il Sig. Larson mi apre un'altra posizione con un quantitativo superiore di 5 volte ed ad un prezzo ancora più alto di ben 9,9 pip. Seguo il mercato e rimettendoci solo i 4 pip di spread richiudo l'operazione perdendo 34.054 $ riscrivendo e assicurando che avrei denunciato La Società e Lui alla polizia Inglese per irregolarità operative e tentativo di truffa, se non chiudevo dopo due giorni sarei rimasto senza un $. Ho già scritto due email e mi hanno risposto che sarei stato contattato, ma nacora nessun contatto e nessun accredito dei miei soldi.
Consiglio di evitare di operare con dax-300 perche' sono disonesti affermando cose completamente false: non sono certificati ne licenziati; inoltre operano in modo disonesto anche contro istruzioni ben precise da poarte dei clienti. Gianfranco Guernelli

Translated by Google:

I opened a trading account with Dax-300, with an initial deposit of
400 $ on the MT5 platform account trtading n. 471045 on 28 April 2012.
I opened this account contacted by Mr. Danis Larson, who assured me that DAX-300 is certified by the FCA and that the rest was enough to open dax-300.com and read everything was indicated, after the deposit I go to read the presentation of the Company there is no license number. Of the $ 400 paid by doing some positive first trades then I took a heavier pair in the negative I lost $ 270.00 remaining with a balance of $ 130.00. Before deciding what to do, meanwhile I am assigned a consultant Certa Marta Peroni with a position Sky, which obviously asks for payments for the remaining balance was poor to operate, and sends me a mandate to manage my account, I meanwhile in three times around 1150.00 $, and I reserve the right to make a further payment in early July. I take all the appropriate information and send Skipe to Marta Peroni a copy of the results of my research: Not certified by FCA, no License to operate on the financial markets. She replies that I was wrong to write the name of the company because the answers refer to Dax300 without hyphen.
I reply that the information with or without a hyphen is the same. He does not write to me for a while but they do some positive operations of a $ 400.00. He called me without letting me talk, saying I had to pay $ 100.00, without letting me know why I did not want to pay anymore. After two days at the end of June I call Danis Larson, with an aggressiveness and an obsession, ordering me to pay $ 1000.00 without leaving time to say why I did not even think about throwing down the phone after an hour of soliloquy with very high tones and aggressive.
On 26 July I revoke the mandate to manage with immediate effect and request the credit of my free $ equal to 1550.0 paid and 195.40 of operating profit for a total of $ 1745.40. On 27 June I read my instructions and close the operation on foot, then immediately after reopening it at a higher price as I notice it I close it with a loss of $ 77.86, sending an email with the warning to operate again. Little did not happen but then, on 5 July, Mr. Larson opened another position with a quantity 5 times higher and at an even higher price of 9.9 pips. I follow the market and putting back only the 4 pips of spread I close the operation losing $ 34,054 rewriting and assuring that I would have denounced The Company and He to the English police for operational irregularities and attempted fraud, if I did not close after two days I would be left without a $ . I already wrote two emails and they replied that I would be contacted, but no contact and no credit for my money.

I advise you to avoid working with DAX-300 because they are dishonest by saying things that are completely false: they are not certified and fired; they also operate in a dishonest way even against very specific instructions from customers' papers. Gianfranco Guernelli

Guernelli Gianfranco 08/26/2018

Don't trust Dax300

Don't trust a single word from them - now you are warned.

Jesper Hansen 07/03/2018
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