Daxbase broker review - an unregulated broker with live customer support

daxbase.com
nika
Written by:
Av
konstantinrabin
Calendar
Written on:
11 December 2023
Date
Last edit:
11 January 2024
Our rating:
2.75

2.75

Daxbase broker review - an unregulated broker with live customer support

daxbase.com
nika
Written by:
Calendar
Written on:
11 December 2023
Date
Last edit:
11 January 2024
Our rating
2.75

2.75

Trading is risky
See how Daxbase compares to it's closest alternatives.
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Main summary

Baxbase is a global Forex and CFD broker that offers access to Cryptocurrencies, currencies, commodities, and indices. 

One key feature that makes the broker stand out from the competitors is that it provides a live video chat option. On the downside, there are many concerns when it comes to broker’s safety. Daxbase is not regulated. In addition, there are no popular trading platforms offered such as MetaTrader 4, MetaTrader 5 or cTrader. Furthermore, the registration process is super easy, which further indicates the lack of safety. 

Let’s dive a little bit further and find out whether this broker can be trusted or not. We’ll discuss important topics such as account types, customer support, safety and more. 

Pros & cons of Daxbase broker

  • Ability to withdraw with $0 fees
  • Withdrawals are super fast and take only about an hour
  • Fast and digital account opening/verification
  • Offers 24/7 customer support with live video chat
  • There’s no minimum initial deposit requirements, traders can start accounts from 250 USD
  • Offers cryptocurrencies, currencies, commodities, indices for trading
  • Most payment options are free and instant
  • Offers pass free registration
  • Enables copy trading
  • The broker is not regulated
  • The trading platform is only for web use, there are no mobile and desktop trading platforms
  • Very low leverage 1:100 for only professional clients
  • No educational content

Daxbase Fact sheet

Main features
Regulations Unregulated
Fees on deposits 0 USD
Fees on withdrawal 0 USD
Inactivity fees 0 USD
Minimum deposit 250 USD
Minimum account activation 0 USD
Number of available assets N/A
Leverage up to 1:-
Available trading markets Cryptocurrencies, Commodities, Indices
Account currencies USD
Demo account Yes
Live account types Bronze, Silver, Gold
Islamic account Yes
Security
Negative balance protection Yes
Part of compensation fund -
Keeps funds on segregated bank account -
Assets
Forex
Shares
Cryptocurrencies
Indices
Commodities
Total -
Fees & spread
Forex -
Shares -
Cryptocurrencies -
Indices -
Commodities -
Software
Platforms -
Mobile trading support Yes
Mac device support Yes
Commodities Yes
Payment systems
Payment methods -
Minimum deposit -
Minimum withdrawal -
Withdrawal processing time -
Time to open an account -
Show all

Safety & Security of Daxbase

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As already mentioned, the broker is not regulated. The lack of regulation means that there is no one to protect traders’ interests when things go wrong. Furthermore, the lack of a reputable trading platform and casual registration process are more red flags.

Account types available for traders on Daxbase

The broker offers 3 account type options, Bronze, Silver, and Gold. However, it is not clarified how these accounts are different from each other. All we get from the webpage is that Silver and Gold account holders get mastercall training and personal success manager as extra features.

Pros & cons of Daxbase account types

ProsCons
24/7 live video chat supportIslamic account is not available
Enables traders to use Demo accountsInformation on spreads and commissions are not available on the broker’s web page
Withdrawals take less than 1 hour 

Comparing Daxbase fees with other brokers

The customer support was unable to give us information about spreads, in fact, they thought leverage and spreads were the same thing. 

Daxbase fees compared to Interactive Brokers fees

Type of FeeDaxbaseInteractive Brokers
EUR/USD SpreadFrom 1 pipsFrom 0.6
Fees on DepositsNo1%
Inactivity feeNoNo*

*Inactivity fee was eliminated by IB in 2021, it used to be $20/m

Daxbase fees compared to CM Trading fees

Type of FeeDaxbaseCM Trading
EUR/USD SpreadFrom 1 pipsFrom 0.9 pips
Fees on DepositsNoNo
Inactivity feeNoYes, 15 EUR/USD per month after 60 days of inactivity

Daxbase fees compared to plus500 fees

Type of FeeDaxbaseplus500
EUR/USD SpreadFrom 1 pipsFrom 0.8 pips
Fees on DepositsNoNo
Inactivity feeNoYes, 10 USD per month after 3 months of inactivity

Daxbase fees compared to XM fees

Type of FeeDaxbaseXM
EUR/USD SpreadFrom 1 pipsFrom 0.6
Fees on DepositsNoNo
Inactivity feeNoYes, 15 USD after 12 months, +5 USD/m

Daxbase fees compared to AvaTrade fees

Type of FeeDaxbaseAvaTrade
EUR/USD SpreadFrom 1 pipsFrom 0.9
Fees on DepositsNoNo
Inactivity feeNoYes, 50 USD after 3 months, 100 USD administration fee after a year

Daxbase fees compared to Capital.com fees

Type of FeeDaxbaseCapital.com
EUR/USD SpreadFrom 1 pipsFrom 0.9
Fees on DepositsNoNo
Inactivity feeNoYes, 50 USD after 3 months, 100 USD administration fee after a year

Trading platforms and mobile trading reviewed at Daxbase

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Education and research tools offered by Daxnbase

There is no educational material available on the broker’s web page. Which is a huge downside. However, the broker promises personal training such as seminars and webinars for Silver, and Gold account holders. 

Customer support of Daxbase

Daxbase offers amazing customer support available 24/7. New and existing customers can contact the broker using live chat, send them an email or call one of the broker’s offices. Customer service is available in various languages, such as: English, Russian, Chinese, Thai, Singapore, Australia.

Conclusion

To sum it all up, Daxbase is not a trustworthy company due to simple reasons: they aren’t regulated, do not offer a third party platform, and the registration process is shady. We do not recommend this broker to our readers. 

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FAQs about

Is Daxbase a trustworthy broker?

Daxbase doesn’t have a license from any reputable regulatory body, which means that traders should avoid it. Regulators are there to protect traders’ interests. 

Which account types can I use when trading with Daxbase?

Daxbase offers three account types to meet the requirements of different types of traders: Bronze, Silver, and Gold. Gold account holders are provided with personal managers. And all account types have access to 24/7 live support and withdrawals that take less than an hour.

Can I use bitcoin to fund my account?

Yes, Daxbase accepts deposits in various crypto currencies in addition to more traditional methods such as wire transfer and VISA/Credit cards. Traders can use Bitcoin, Litecoin, Ethereum, Bitcoin Cash, Monero, and many other payment options.