Daxbase Review 2020
Daxbase is an online broker that offers CFD trading online in forex currency pairs, stocks, and cryptocurrencies. The broker offers multiple account options with a minimum initial opening balance of $250. However, the broker is located offshore and not regulated, which could deter potential clients.
Daxbase Review 2020, Pros & Cons
- Multiple account options
- A range of deposit & withdrawal options
- Multilingual customer support
- Multiple tradable assets
- Unregulated broker
- Located offshore
- No MetaTrader platforms
- Limited educational resources
- No standalone trading tools
- No US clients
In this detailed Daxbase review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Daxbase is not ranked in our best forex brokers, best stockbrokers, best CFD brokers, best crypto brokers, or best online brokers categories. You can use our free broker comparison tool to compare online brokers including Daxbase.
Daxbase Review: Summary
Headquartered in Majuro, Marshall Islands, Daxbase is a broker that provides its traders with trading online across various financial instruments. There is a wide choice of different account types and payment methods. Traders get access to 24/7 customer support.
Daxbase Review: Regulation
Daxbase is operated by DX Base Limited, with its registered office at Trust Company Complex, Ajeltake Road, Majuro, Marshall Island: MH96960. There is no regulatory information on the broker’s website.
Most experts and professionals would not trade with an unregulated broker as they cannot offer the same protection to investors that a regulated brokerage firm can. Please see our best trading brokers for alternative regulated brokers.
Daxbase Review: Countries
Daxbase and its agents are not registered and do not provide any services on the U.S. territory. Their services are not directed to residents of the US and other countries where local laws prohibit trading with an international broker.
Some Daxbase features and products mentioned within this Daxbase review may not be available to traders from specific countries due to legal restrictions.
If you are looking for a trading broker in a particular country, please see our best brokers USA, best brokers UK, best brokers Australia, best brokers South Africa, best brokers Canada or our best brokers for all other countries.
Daxbase Review: Trading Platforms
Daxbase seems to provide traders with their own trading platform, but, unfortunately, there is not much information about it on the broker’s website. The platform has the copy-trading feature, which allows traders to copy the trades of other traders. It should be strongly emphasised that there are no guarantees on the performance of copy trading and you should have a clear understanding of all the significant risks involved with trading online.
Daxbase Review: Trading Tools
There are no standalone trading tools on the broker’s website at the moment.
Daxbase Review: Education
Daxbase has a limited selection of educational materials. However, there are web master class sessions for traders with the Silver and Gold accounts. There is also a FAQ section that gives prompt answers to traders’ most common questions.
Daxbase Review: Trading Instruments
The broker offers a range of tradable assets spread across forex, currency pairs, stocks, and cryptocurrencies for trading online via the provided trading platform.
Daxbase Review: Trading Accounts & Fees
The broker gives clients access to a variety of trading account types, including Bronze, Silver, and Gold accounts. The required minimum deposits range from $250 to $25,000. Demo accounts are also available for practice purposes.
As broker fees can vary and change, there may be additional fees that are not listed in this Daxbase review. It is imperative to ensure that you check and understand all of the latest information before you open a Daxbase broker account for online trading.
Daxbase Review: Customer Service
Daxbase provides traders with a multilingual customer support team who are available via telephone, email, live chat, and social media.
Daxbase Review: Deposit & Withdrawal
The broker accepts a wide range of deposits and withdrawal methods, such as:
- Bank transfer
- Credit/Debit Cards — such as Visa, MasterCard, Maestro
- Cryptocurrency — including Bitcoin, Ethereum, Monero, Litecoin, and more.
- E-Payments — such as PerfectMoney, QIWI, We Monet, Neteller, JCB, and more
The broker does not charge deposit or withdrawal fees but you should check for any third party fees.
Daxbase Review: Account Opening
To open a trading account, click on the ’Trade Now’ button on the broker’s website and fill out the form properly and submit.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the broker’s terms, conditions, and policies. Only proceed if you fully understand and agree to them.
Daxbase Review: Conclusion
Putting it all together, Daxbase is a retail broker that is based in Marshall Islands and offers multiple tradable assets for online trading. They offer various account options and accept several payment methods. Traders also get access to dedicated client support. However, they are not regulated by any known financial authority and do not have the popular MetaTrader platforms that so many traders around the globe are already accustomed to.
The financial services provided by this broker carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.