Website URL: https://www.daxbase.com/
Languages: English, French, Spanish, Russian, Thai
Deposit Methods: credit and debit cards, e-wallets
Minimum Deposit: $250
Free Demo Account: yes
Types of Assets: CFDs, Forex, Cryptocurrencies
Daxbase is an offshore based trading company, which means that some of the basic information is lacking, including the ones about licence and regulation. This draws the conclusion that your funds are in no way protected when trading with Daxbase since there is no regulatory body that you can go to when your rights are being violated. For example, CySEC or FCA are two of the most reputable regulatory authorities out there, which make sure that each client is protected from fraud or other misuse.
Also, the lack of regulation information shows that whatever happens to the company, your funds will pay the price. For example, if the broker goes bankrupt, there is no guarantee that your assets will stay intact. The only information that Daxbase provides is that they are based in the Marshall Islands, which is a popular offshore zone for trading companies.
The trading platform is designed quite modestly, with just a few charts and information that you can find on other websites as well. Still, there is no unnecessary information that can take your mind off your trading, which is good.
The main disadvantage is that the platform is not MT4 or MT5, which has become a standard in the trading community. With these platforms, you can start trading on any device, and also customize it to serve your unique trading experience. Unfortunately, this is not an option at Daxbase.
However, the spread is only 1 pip on EUR/USD, which is the most popular Forex trading pair. With CFDs and other assets as well, you can find leverage of 1:100. This is above average when it comes to industry standards.
Daxbase offers 3 different types of accounts to their clients. Depending on your trading knowledge, goals and funds that you are willing to spend, you can choose one of the following:
- Bronze account- this account can be yours after you deposit the minimum of $250, which is the least amount required to start trading with Daxbase. With this account type, you can have access to basic perks such as 24/7 live support, demo account andwithdrawal processing within one hour
- Silver account – to get to the next level on Daxbase, you will need to deposit at least $1.000. In addition to the same features of the bronze account, but with some educational web classes as well
- Gold account- the gold account is the greatest one of all in the Daxbase universe – it allows you the opportunity to contact your personal account manager to guide you through your trading adventure.
Deposits and Withdrawals
As we mentioned already, Daxbase can process your withdrawal requests as fast as within a single hour. Their technology is quite advanced for this section, and they offer some of the widest ranges of payment methods to date. From credit and debit cards to a variety of e-wallets, you name it.
In addition, we should note that you should pay attention to the small print – especially when it comes to this part. Daxbase will strip you off $10 each month as an inactivity fee you don’t make a trade with them. Also, there is a $5 fee for credit and debit cards. Other than that, there are no fees or commissions that you should watch.
Daxbase does not have an educational section as such, but you can find a quite handy “How to Start” part, instead. It covers a lot of topics, from registering for an account to depositing your money. Still, there seem to be no video tutorials, lessons of e-books. This is a shame for such a prominent name. It excludes a wide group of traders who would be able to grow and learn with Daxbase. Education has become a crucial part of trading, since it changes and evolves as time passes. In trading, you can learn both from history, as well as the experience of other traders.
Also, the Frequently Asked Questions page is standard and does not provide a lot of details. It also lacks a more unique approach to traders, nor does it acknowledge the different levels of their trading proficiency. Overall, the educational section of Daxbase could use a few touch ups. With a lot more details and a variety of educational tools for their clients they could go a long way.