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DaxBase Review - is it scam or safe?

DaxBase Review - is daxbase.com scam or good forex broker?

RATING: 1 / 1 REVIEWS DaxBase
DaxBase is an offshore broker. Your money is not safe.

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Trading Accounts & Conditions

 

Account type Min. Deposit Max. leverage Spread
Bronze  $250 1:500 1 pips
Silver  $1 000 1:500 1 pips
Gold  $3 000 1:500 1 pips

 

Offshore broker DaxBase offers trading in forex and various CFDs via the account types listed above. While its web-based platform and trading conditions might seem attractive, we would not recommend investing with this financial intermediary. It might be one of the many con artists on forex and cryptocurrency markets. Below, you can find all the details regarding DaxBase, its offer and corporate situation.

 

 

DaxBase Advantages

 

Seemingly good spreads, nice in-house platform

The web-based trading interface offered by DaxBase seems oversimplified at first glance, but actually offers some copy trading service, economic calendar and various technical analysis features.

 

 

Besides, although the broker has not mentioned any reference spreads on its website, we found the benchmark EUR/USD spread fixed at 1 pips, which is a good offer.

 

 

DaxBase's trading platform. Click on the image to view larger.

 

Many tradeable assets & payment methods offered

Another possible benefit of using DaxBase, provided that the broker is not a fraudster, is the wide range of assets it offers for trade. The broker’s portfolio includes a number of currency pairs, and CFDs on indices, commodities, precious metals, and more than 15 cryptocurrencies.

 

 

>> Regulated brokers offering Bitcoin trading <<

 

 

Clients of DaxBase are also offered a lot of payment options. Apart from credit/debit cards, and bank wire transfer, they can use Skrill, Neteller, PerfectMoney, and some cryptocurrencies (Bitcoin, Ethereum, Litecoin).

 

 

DaxBase Disadvantages

 

Limited corporate information, not licensed

DaxBase is a trademark of the Finance Group Corp., however, the broker’s website does not feature any information about the company and its headquarters. There is only a mention of the laws of the Republic of Seychelles in the Terms and Conditions. The Seychelles are among the most favorite locations for offshore brokerages due to lenient registration requirements.

 

Companies registered offshore are not licensed, nor monitored by a reliable governmental agency and therefore are not entitled to operate on regulated markets like USA, the EU, Australia or Japan. Nonetheless, the website of DaxBase is available in English, Spanish, and French, among other languages, so it obviously targets European investors.

 

Blacklisted by several regulators

Actually, we have reviewed a number of brokers operated by or associated with Finance Group Corp. (FCG), which all seem pretty shady: RaceOption, BinaryMate, BinaryCent, LiteOptions,  binary options robot Ackman Capital, and others.

 

This company and some of its brands has been blacklisted by several financial regulators. The Financial Markets Authority (FMA) of New Zealand has warned against Finance Group Corp and its brands 24StartTrade and Binary Cent. The French regulator Autorité des marchés financiers (AMF) has also blacklisted BinaryCent, and the Cyprus Securities and Exchange Commission (CySEC) has flagged LiteOptions, another binary options brand associated with FCG.

 

MetaTrader 4 platform not supported

Although we generally liked DaxBase’s trading interface, it cannot be compared with the industry’s leading MT4. Many traders are used to the advanced features of this software and keep using it alongside other forex trading platforms. 

 

 

>> Prefer trading on the MT4? <<

 

 

Relatively high initial deposit required

In order to open an account with DaxBase, one has to deposit at least $250. Such initial investment required is slightly high, considering that this broker is not properly regulated. Besides, it seems that deposits made by bank wire have to be significantly higher and incur quite salty fees.

 

 DaxBase's Terms and Conditions. Click to view full size,.

 

 

 

Conclusion

 

It appears that DaxBase is yet another dubious offshore forex broker. It obviously works with crypto robot DaxRobot – a popular way for scam brokers to attract more clients. DaxBase is operated by the notorious Finance Group Corp (FGC), which is associated with a number of other shady brands, and is blacklisted by several financial regulators.

 

That being said, you’d better not waste your time and money on DaxBase, nor any other unregulated forex brokers. There are far better options in the trading world. For example, brokerages licensed by the Financial Conduct Authority in the UK or by ASIC in Australia.



>> Trade with a FCA-licensed forex broker <<

 

 

Here are the highlights of our review of DaxBase:

 

Pros

Cons

Seemingly good spreads, nice in-house platform

Not regulated

Many tradeable assets & payment methods offered

Company behind it blacklisted by several authorities

 

MetaTrader4 not supported

 

Relatively high initial deposit required

 

Latest news about DaxBase
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Traders` reviews for DaxBase

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

 

 

DaxBase withdrawal

1100€ withdravals meni aikaa 33 päivää minnä lähetin 15 sähköpostia sen jälkeen raha saapui sen jälkeen 120 loss ja robotti tyhjä

Translated by Google:

€ 1100 withdrawals took 33 days I sent 15 emails after the money arrived after 120 loss and the robot was empty

juha soininen 04/11/2019
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