Updated: 11/01/2023

GreenDax

GreenDax Review

4 / 5
5 ratings
Learn More
.22 Apr 2023
author avatar image Chad Smith

Table of Contents

Overview

GreenDax Main Features
Feature Title Feature Value
🗺️ Year Founded 2019
🏢 Headquarters Marshall Islands
⚖️ Tier-3 Licenses Yes
Minimum Initial Deposit $10
Demo Trading Yes
Leverage (EU Clients) 1 : 500
Leverage(Non-EU-Clients) 1 : 500
Average Spread EURUSD 0.6 pips
💰 Withdrawal fee No
Withdrawal Time Same day
💰 Inactivity Fee No

GreenDax is an online forex and CFD broker founded in 2022 and headquartered in St. Vincent and the Grenadines. The broker aims to empower traders by providing services that unlock numerous opportunities in the global market. With over 1,200+ tradable assets across forex, commodities, metals, shares, and cryptocurrencies, GreenDax offers a diverse range of investment options.

Key Features & Benefits

  1. Great Proprietary Trading Platform: GreenDax offers a proprietary web-based platform that provides a seamless trading experience. The platform is user-friendly, intuitive, and equipped with advanced charting tools, enabling traders to make informed decisions.
  2. Broad Product Portfolio: With more than 1,200+ CFDs available, GreenDax offers a wide range of financial instruments. Traders can access major indices, energy markets, commodities, global stocks, and decentralized currencies, providing ample opportunities for diversification.
  3. Leverage up to 1:400: GreenDax provides leverage of up to 1:400, allowing traders to amplify their potential returns. However, it’s important to exercise caution and manage risk effectively when utilizing high leverage.
  4. Fast NDD Order Execution: GreenDax ensures fast and reliable order execution through its No Dealing Desk (NDD) model. This helps traders to take advantage of market opportunities without delays or requotes.

What Did We Like about the Broker

GreenDax impressed us with its dedication to providing traders with a top-notch trading environment. Here are some highlights:

  1. Professional Team: The broker was founded by experienced professionals in the finance industry who have worked in multiple regions worldwide. Their expertise contributes to creating a reliable and trustworthy trading platform.
  2. Access to Global Markets: GreenDax enables traders to access international markets beyond just forex. Through their proprietary platform, traders can trade stocks, indices, and commodities, expanding their investment opportunities.
  3. Client Satisfaction: With a focus on long-term client satisfaction, GreenDax ensures traders receive exceptional services and innovative features. The broker’s commitment to customer success is evident in its platform and support offerings.

Account Types & Pricing

GreenDax provides six different trading accounts, each offering various features and benefits. These accounts cater to traders of different experience levels and investment preferences. Here’s an overview of the account types:

  1. Beginner Account: Designed for traders new to the market, offering basic access to market instruments, a desktop/web terminal, mobile trading, analytical materials, and one-click trading.
  2. Standard Account: Provides basic access to market instruments, along with additional features like swap-free/ Islamic accounts, daily analysis, and mobile trading.
  3. Intermediate Account: Offers basic access to market instruments, a desktop/web terminal, mobile trading, analytical materials, one-click trading, swap-free/Islamic accounts, and daily analysis.
  4. Advanced Account: Provides full access to market instruments, including advanced features like special market coverage, personal account manager, and trading strategies allowed.
  5. Integral Account: Offers full access to market instruments, with additional features such as special market coverage, personal account manager, trading strategies allowed, and private instant support.
  6. VIP Account: A premium account for high-end investors, providing full access to market instruments, VIP personal manager, special event invitations, and private instant support.

GreenDax’s account types cater to a wide range of traders, allowing them to choose an account that aligns with their trading goals and preferences. However, it’s important to note that the minimum deposit required to access lower spreads and better service is $250,000.

Trading Platforms

While many brokers utilize popular platforms like MetaTrader 4 (MT4) or MetaTrader 5 (MT5), GreenDax stands out by offering its proprietary web-based trading platform. This platform has been developed to meet the needs of traders and investors who demand high performance and excellent trading conditions.

The GreenDax trading platform provides the following features:

  1. Sophisticated Chart Tools: The platform offers advanced charting tools that allow traders to perform technical analysis with ease. These tools help identify trends, patterns, and potential trading opportunities.
  2. Over 1,000 Assets: Traders can access a wide range of assets, including currencies, stocks, and indices, providing ample opportunities for diversification.
  3. Secure Trading Environment: GreenDax prioritizes the security of traders’ funds and information. The platform utilizes advanced encryption technology to ensure a secure trading environment.
  4. Instant Access via Mobile & Web: The platform is accessible via web browsers on both desktop and mobile devices, offering convenience and flexibility to trade anytime, anywhere.

The GreenDax trading platform provides traders with the necessary tools and features to execute trades efficiently and make informed investment decisions.

Customer Support & Education

GreenDax offers various means of communication to assist traders and provide prompt support. The broker’s customer support team is highly trained and responsive, catering to the needs of traders regardless of their experience level. The following communication channels are available:

  1. Live Chat: Traders can engage with customer support representatives in real time through the live chat feature on the website.
  2. Email Support: For inquiries and assistance, traders can reach out to the support team via email at info@greendax.com.
  3. Phone Support: GreenDax provides phone support for immediate assistance. Traders can contact the support team at +18008316765.

GreenDax recognizes the importance of client education and provides resources to help traders enhance their knowledge and skills. Once the minimum deposit is met, clients gain access to the company’s education center and resources. These educational materials cover various trading techniques, strategies, and market analysis, empowering traders to make informed decisions.

GreenDax vs. Competitors

When comparing GreenDax to its competitors, several factors stand out:

  1. Proprietary Trading Platform: GreenDax offers a proprietary trading platform, providing a unique user experience and advanced features that may differentiate it from competitors relying on standard platforms like MT4 or MT5.
  2. Broad Product Portfolio: With over 1,200+ CFDs available, GreenDax offers a wide range of tradable assets, including cryptocurrencies. This diverse selection provides traders with more opportunities for profit potential.
  3. Competitive Leverage: GreenDax offers leverage of up to 1:400, which can be advantageous for traders seeking amplified returns. However, it’s important to understand the associated risks and manage leverage effectively.
  4. Customer Support & Education: GreenDax places a strong emphasis on customer support and education. Traders can expect prompt and responsive assistance, as well as access to educational resources, to enhance their trading knowledge.

Conclusion

In conclusion, GreenDax is a reputable online broker offering a range of trading accounts, a proprietary trading platform, and a diverse selection of tradable assets. Despite not holding major licenses from top-tier regulators, GreenDax maintains safety standards, and transparency in execution, and offers negative balance protection to VIP clients.

The broker’s commitment to client satisfaction, innovative platform, and extensive educational resources make it a legitimate option for traders seeking to explore the forex and CFD markets.

FAQs

Is GreenDax regulated?

While GreenDax is not regulated by top-tier regulators like the FCA, ASIC, or CySEC, it operates under the oversight of the SVGFSA. The broker adheres to standard AML and KYC policies, ensuring safety and transparency in its operations.

What are the fees associated with trading on GreenDax?

GreenDax has relatively high trading fees overall, with the fee structure varying across different account types. The broker does not charge commissions for trading but requires a higher minimum deposit to access lower spreads and better service.

What is the minimum deposit to open an account with GreenDax?

The minimum deposit required to open an account with GreenDax is $2,500 or equivalent. However, to access better service and lower spreads, a minimum deposit of $250,000 is recommended.

Sources & External Links

author avatar image
Chad Smith

Chad Smith is the Director of Research & Analysis here at ForexBrokerListing.com. Chad previously served as an Editor for a number of websites related to finance and trading, where he authored a significant number of published articles about trading and the impact of technology in transforming investing as we know it. Overall, Chad is an active fintech and crypto industry researcher with more than 15 years of trading experience, and you can find him teaching his dog how to trade in his free time.

GreenDax

4 / 5
5 ratings
Please Log in to rate!