REVIEWS
GreenDax Review 2022
Reviewed
Tested
Safe
GreenDax is an online forex and CFD broker that was founded in 2022 and is currently based in St. Vincent and the Grenadines.
The broker’s focus in the industry is to empower traders with services that unfold hundreds of opportunities in the global market, with more than 1,200+ tradable assets in CFDs across forex, commodities, metals, shares, and cryptocurrencies.
GreenDax Limited is the acting principal company that operates according to the laws of Hong Kong under the main website www.greendax.com, with registration number 26734BC2022 and operating address at Level 12, One Peking 1 Peking Road, Tsim Sha Tsui Hong Kong.
| GreenDax Main Features | |
|---|---|
| 🗺️Established in: | 2022 |
| 🏢Headquarters: | St. Vincent and the Grenadines |
| ⚖️Regulations: | SVGFSA |
| ⚖️Country of regulation: | St. Vincent and the Grenadines |
| 💰Minimum Deposit: | $2,500 |
| 🖥Platforms: | Proprietary Web-Based Platform |
| 🎮Demo Account Available: | Yes |
| 💱Leverage: | 1:400 |
| 💰Withdrawal fee amount: | No |
| 💰Inactivity Fee: | No |
| Pros | Cons |
|---|---|
| • Great proprietary trading platform | • High CFD fees |
| • The broad product portfolio of more than 1,200+ CFDs | • High minimum deposit |
| • Leverage up to 1:400 | • No 24/7 support availability |
| • Fast NDD order execution |
GreenDax was started by experienced people in the finance industry who performed in multiple regions across the world.
The broker helps people to succeed in the financial markets by providing them with the best conditions possible.
The forex broker offers the best-traded indices such as DAX, Dow Jones, FTSE, and S&P. Traders can access the energy markets and other commodities, along with global stock companies without complexity.
With GreenDax’s long-term expertise and client satisfaction, traders can expect a first-rate trading environment with innovative services across the globe.
GreenDax is here to provide traders worldwide with our outstanding services that empower them to reach their full trading potential.
OctaFX
Pepperstone
BlackBull Markets
Vantage
Avatrade
Learn2Trade
CryptoSignals
1000pipbuilder
DDMarkets
Etoro
Safety & Regulation
GreenDax is a new broker in the market and still doesn’t hold any major license from top-tier regulators like the FCA, ASIC, or CySEC. However, its operation is monitored by the SVGFSA, and the broker is obligated to follow all standard AML and KYC policies.
Is GreenDax Safe or a Scam?
Even though the broker is not regulated by a top-tier regulator, GreenDax is considered a safe broker to trade with as it maintains all safety, AML, and KYC standards. The company is also very straightforward and transparent with its execution policy.
The broker also offers negative balance protection to its VIP clients.
Furthermore, there is no trail of bad history or malicious misconduct towards clients, or any manipulation of funds.
Safety of Funds
All transactions made are fast, simple, and secure through the highest level of encryption available. GreenDax ensures that its transaction systems align with the industry’s data protection standards to guarantee the safeguarding of your sensitive data.
Accepted Countries
GreenDax can offer its services to everyone, except residents of North Korea, Iraq, and the United States.
Keep in mind though that, You are responsible for ensuring that all services and activities of GreenDax.com are authorized in your jurisdiction.
GreenDax is a new broker in the market and still doesn’t hold any major license from top-tier regulators.
Fees
GreenDax has relatively high trading fees overall. The fee structure differs among various account types, and it is not very transparent in order to calculate costs easily.
Also, you are required a higher minimum deposit to get access to lower spreads and better service. This contradicts the statement for support, new traders, to gain access to the market easily.
Furthermore, the broker does not charge any commission for trading.
Leverage
The maximum leverage level of GreenDax is 1:400, which is considered relatively high and offers a good trading advantage.
What is GreenDax’s Minimum Deposit?
The minimum deposit required is $2,500 or equivalent. However, in order to get access to better service and lower spreads the minimum deposit goes up to $250,000.
GreenDax has relatively high trading fees overall.
Account Opening
This online broker provides six different trading accounts for its clients, the Beginner Account, the Standard Account, the Intermediate Account, the Advanced Account, the Integral Account, and the VIP account for high-end investors. Based on the account type, traders can get access to better spreads and leverage levels.
At GreenDax, all possible measures are taken to ensure that client funds and data remain secure.
Here are the account types in more detail:
Beginner Account
- Basic access to market instruments
- Desktop/Web Terminal
- Mobile Trading
- Analytical Materials
- One-Click Trading
Standard Account
- Basic access to market instruments
- Desktop/Web Terminal
- Mobile Trading
- Analytical Materials
- One-Click Trading
- Swap Free/Islamic
- Daily Analysis
Intermediate Account
- Basic access to market instruments
- Desktop/Web Terminal
- Mobile Trading
- Analytical Materials
- One-Click Trading
- Swap Free/Islamic
- Daily Analysis
- Market Coverage
Advanced Account
- Full access to market instruments
- Desktop/Web Terminal
- Mobile Trading
- Analytical Materials
- One-Click Trading
- Swap Free/Islamic
- Daily Analysis
- Market Coverage
- Special Market Coverage
- Personal Account Manager
- Trading Strategies Allowed
Integral Account
- Full access to market instruments
- Desktop/Web Terminal
- Mobile Trading
- Analytical Materials
- One-Click Trading
- Swap Free/Islamic
- Daily Analysis
- Market Coverage
- Special Market Coverage
- Personal Account Manager
- Trading Strategies Allowed
- Private Instant Support
VIP Account
A special account for traders seeking competitive pricing and extra benefits.
- Full access to market instruments
- Desktop/Web Terminal
- Mobile Trading
- Analytical Materials
- One-Click Trading
- Swap Free/Islamic
- Daily Analysis
- Special Market Coverage
- Trading Strategies Allowed
- VIP Personal Manager
- Special Event Invitations
- Private Instant Support
Deposit & Withdrawal
The broker provides different payment methods to fund your trading account. All deposits and withdrawals are processed depending on the level of priority of each account type.
Account Base Currencies
The accounts are only in USD
Deposit Methods available
- Credit\Debit Card
- Bank Transfer
- E-wallets
How to make a deposit?
There are several payment methods offered, from Credit Card, Wire Transfer, as well as several forms of e-payment.
- The first step is logging into your account, then go to the ‘Deposit’ section
- Click on your preferred method, enter the amount you wish to deposit, and add the payment method details into the fields
- Click on ‘Deposit’
Trading Platforms
While most of the new brokers out there use the vanilla and most used MetaTrader 4(MT4) or MetaTrader 5(MT5) platforms, GreenDax has had time to invest in creating its own proprietary investing platform.
The trading platform is a cross-functional, state-of-the-art, platform that provides outstanding trading possibilities and advanced technical tools, as well as automated trading systems (trading robots) and copy trading capabilities.
A competent, fully-powered trading platform that offers a ton of elements that all types of traders can appreciate. You can access their core platform functions with extensive resources that you’ll need for wiser and more confident trading.
Make the most of an expanding range of trading instruments and other platform features that can lead to attractive opportunities. However, the platform is only available via a web browser and can work on both mobile and desktop versions.
Their Trading Platform is a cross-functional, state-of-the-art, platform that provides outstanding trading possibilities and advanced technical tools.
Markets & Financial Instruments
The broker offers CFD trading in more than 10,000+ assets, with more being added constantly. These individual assets fall under the following asset classes:
- Currencies
- Stocks
- Indices
- Commodities
- Cryptocurrencies
The offerings are more than sufficient to have something for everyone, and never miss a market opportunity. Whether you like to trade fiat currencies or cryptocurrencies, stocks or indices, or even volatile commodities, there is something to trade on the platform.
Currency Market
Access the most liquid market in the globe. Trade currency majors, minors, and exotics with competitive pricing and low commissions.
Commodity Market
Trade commodity futures in the energy markets and other soft commodities to create a more diverse and stable investment.
Spot Metals
Stay ahead with your investments and trade ‘safe-haven’ assets such as Gold, Silver, and other spot metals.
Index Market
Respond to global events over global indices across Europe, the US, and Asia with our major stock indexes, including DAX, S&P 500, FTSE 100, and DJIA.
Digital Market
Buy and sell digital currencies such as XRP, Cardano, and Bitcoin without the need for a wallet or exchange account.
Stock Market
Gain exposure to a wide range of stocks, such as Apple, Facebook, Tesla, and Alibaba, and take advantage of low commission rates.
Customer Service
GreenDax offers several different means of communication for you to reach out to their customer support team. You will find that most means of communication provide lively and fast responses from a team who are highly trained to accommodate all traders’ needs, regardless of the client’s trading experience.
Means Of Communication
- Live Chat
- Email Support ([email protected])
- Phone Support (+18008316765)
GreenDax offers several different means of communication for you to reach out to their customer support team.
Client Education
Client education is a very important part of a trader’s journey and GreenDax takes that seriously.
Once the minimum deposit is met, clients get access to the company’s education center and resources, which are equipped with everything a trader needs to educate himself with new techniques and strategies.
Their strong focus on educational trading resources and market analysis provides you with a solid foundational framework, methodology, and approach. These trading materials will help you develop your core understanding of being a trader in the international financial markets.
Client education is a very important part of a trader’s journey and GreenDax takes that seriously.
Conclusion
GreenDax is a CFD and Forex broker that was founded in 2022 and is headquartered in St. Vincent and the Grenadines. This Forex trading broker provides six different trading accounts and floating spreads, along with access to more than 1,200+ different financial assets.
Overall, GreenDax is a legitimate online broker that is worth trading with.
Methodology
All brokers listed on our website are regulated by at least one financial regulator and have never been reported as a scam. We analyze more than 3000 data points across 8 key focus areas.
Our reviews are a combination of data research and working alongside the brokers. All information provided by the brokers are double-checked to guarantee 100% accuracy and that we remain unbiased.
2023 Review Methodology
For our 2023 Forex Broker Review, we assessed, rated, and ranked 45 international forex brokers over a three-month time period. Each broker was graded on 108 different variables and, in total, over 100,000 words of research were produced.
While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.
All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than 0.1% each year, providing site visitors with quality data they can trust. Learn more about how we test.
Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection, and market volatility that may substantially affect the price or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more at Wikipedia.
Chad Smith
Director of Research & Analysis
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.