DaxBase Forex Broker Review

DaxBase is a forex and CFD broker operated by Clever Technologies Ltd. headquartered in the Marshall Islands.
It presents itself as a broker that offers CFDs trading over a broad range of financial assets to the enormous majority of the countries worldwide.
Although it provides generous trading conditions with impressive deals and compensations for users, it is not regulated or authorized by any organization.

Thus, potential clients need to recognize the risks entailed before trading with this platform.

There is no broad information available about the broker and Its regulations on the website and this gives rise to uncertainties and puts forward the question of if DaxBase is a genuine broker or not.

There are mouthwatering offerings of the broker’s website which is enticing but it is frightening that the broker does not disclose any vital information about itself.
Nevertheless, we have made more researches and you would need to continue reading to know if this broker is legit or a scam.

daxbase forex broker review

 

What You Need to Know About DaxBase Forex Broker

The initial understanding of DaxBase is very optimistic. The broker’s website appears extremely nice with the bright colors and elegant layout that conveys the impression that one has found a decent, contemporary broker that recognizes the desires of the traders.

At a glimpse, the broker appears entirely real and reliable.
It provides information about the service that appears extremely favorable. Well, not everything is as nice as it appears on the surface.

The first sign that DaxBase is a fraud broker is that there is no information about the broker – no “About us” page neither does the broker disclose any information about its license or where it operates from.
The only information we got from our research is that the company that governs the brokerage is Finance Group Corp and that the broker does not accept traders from the US.
We understand that potential traders of this platform would concur that this information is not sufficient to trust a broker.

The broker is either regulated offshore or not at all.
This broker also alleges to have some award about having rapid withdrawals, and there is no more information about it and this implies that it is an easy trick to entice inexperienced traders into a scam.

This broker also has a different number for Australian traders and this tells that the broker is providing unlicensed services to the European, Asian, and Australian customers when they are not regulated by the local financial authorities and do not have the liberty to offer financial services in these countries.

The broker does not want to reveal much information about itself and this is bad for business.

 

DaxBase Forex Broker Trading Platforms

The broker does not reveal its trading platforms as wells as trading instruments and conditions.

 

What DaxBase Forex Broker Says it Offers

DaxBase broker offers trading currency pairs and CFDs to the worldwide audience, except the traders from the US.

This CFD trading offering comes with a range of instruments such as Commodities, Cryptocurrencies, Stocks, Indices, and Forex. It lists all top cryptocurrencies including Bitcoin, Litecoin, Ethereum, Dash and Ethereum Classic.

The beginning capital for trading with DaxBase is 250 USD with the standard account. Traders can use the leverage up to 1:100 and trade on the inbuilt trading platform of DaxBase.

 

DaxBase Forex Broker Account Types

There are 3 various account types accessible on DaxBase broker but this broker did not define the trading conditions.

Nonetheless, they each have their characteristics and this is what we have learned so far.

  • Bronze Account: This account type compels at least a deposit of $250 to open, it comes with 24/7 live video chat assistance, withdrawals are within one hour and there is a demo account accessible.
  • Silver Account: This account type obliges a deposit of at least $1,000, it comes with 24/7 live video chat support, withdrawals are within one hour, there is a demo account accessible and a trader get access to a master class web session.
  • Gold Account: The Gold account type employs a deposit of at least $3,000. It comes with 24/7 live video chat support, withdrawals are within one hour, there is a demo account access, access to a master class web session and a private success manager

These accounts do not vary from each other largely, though, the broker emphasizes Silver account as the extensively distinguished one and this can be just a ruse to direct the traders into preferring this account.

 

DaxBase Forex Broker Deposit and Withdrawal Methods

There are a deposit and withdrawal fee for the credit/debit card which is 5% of the money. As the broker states, there are no fees for other payment methods, nevertheless, third party fees might be applied. The broker does not speak of the wire transfer in deposit methods but from glimpsing several legal documents of the broker, it is obvious that withdrawal fee while using wire transfer is 50 USD.
It is also confusing that the broker bids the minimum deposit of 5000 USD or EUR when the account is funded via Wire Transfer.
This amount is near twice the minimum deposit expected for the gold account.
The fact that the broker does not reveal information about these things establishes an incredibly adverse DAXBase impression.

Deposit methods:

  • Visa / MasterCard – 5% fee
  • Bitcoin – No added fee
  • Ethereum – No added fee
  • Altcoins – No added fee
  • Perfect Money – No added fee

Withdrawal Methods:

  • Visa / MasterCard – 5% fee
  • Bitcoin – No added fee
  • Ethereum – No added fee
  • Altcoins – No added fee
  • Perfect Money – No added fee

 

Is DaxBase Forex Broker Licensed?

No, DaxBase forex broker is not a licensed broker.

The broker does not reveal information about its regulations and this should be a huge cause for concern.

 

Conclusion

Although DAXBase offers some special features benefits like bonuses, rapid withdrawals, cryptocurrency payments, low fees but the proof about it is that it not regulated and this makes it undesirable among important traders.
It doesn’t give investor reimbursement for its users.

The prominence of this broker is suspicious!

We do not believe in this broker. We do not recommend you trading with this broker.

This is not a verified broker!

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