Greendax Broker Review 2022

Greendax Broker Overview

Greendax is a newly-launched online broker offering a wide range of tradable assets, including cryptocurrency, forex, commodities, indices, and stocks. The Greendax company is based in Hong Kong and offers leverage of up to 1:400 and a minimum deposit of $2,500. Greendax also has a proprietary web trader for desktop and mobile application platforms.

Greendax has yet to receive its official and regulatory operating license from the authority, but they're operating with an offline permit. The base currencies offered by Greendax are multiple; however, there is no demo account facility available, which is disappointing. On the other hand, the customer support service at Greendax is quite good and responsive as they're available 24/5 through phone and email support in English and French.

Greendax offers its robust proprietary software and web trading platform that offers all the advanced charting tools and indicators for technical analysis. In addition, the software is user-friendly, flexible, and customizable per one's preferences and needs, including multiple language support. Overall, we can say that Greendax is a decent broker with a good range of tradable assets and competitive trading conditions.

Greendax also offers a dedicated news section where traders can find the latest market updates, analysis, and commentary to help them make informed trading decisions. The broker also has an education center with learning materials for beginners.

Geendax does not charge a fee for deposits or withdrawals, but your bank may apply a charge. The account opening process at Greendax is straightforward. You just need to complete the Greendax online registration form and submit the required documents. Once your trading account is approved, you can make a deposit and start trading.

Greendax Safety Details

As mentioned above, Greendax is a newly-launched broker, and it's yet to get the official regulatory license from the authority. However, they are operating with an offline permit, which is a good sign. Moreover, the company isn't publicly traded, nor do they have an insurance fund, but they offer negative balance protection to their clients. The negative balance protection at Greendax helps traders avoid losing more than their initial deposit.

Moreover, Greendax has implemented all the modern and required security measures to protect its clients' funds and data from any potential cyber threats. The Greendax company uses the latest SSL encryption technology to safeguard all client information. Overall, we can say that Greendax is a safe and reliable broker for online trading.

In addition, Greendax follows a strict AML (Anti-Money Laundering) and KYC (Know Your Customer) policy to prevent any financial crimes. For example, the company requires all its clients to verify their identity and submit the necessary documents before they can start trading. In AML, Greendax monitors all financial transactions to ensure that no suspicious or illegal activity occurs. On the other hand, KYC helps the company to know its customers and their financial actions to prevent any fraudulent activities. These compliances at Greendax bring a seamless, safe, and secure trading experience for all its clients.

Greendax Fees Details

Greendax has mentioned on their website that they don't charge their customers any deposit or withdrawal fees. However, you might need to pay a fee to your bank when you make a deposit or withdrawal from your account.

Greendax also doesn't charge any inactivity fees or commission on trades. The only fee they charge is the spread, which is the difference between the bid and ask prices of an instrument. The spreads at Greendax are variable, and the exact spread limit has not been mentioned on the Greendax website. The minimum deposit at Greendax is $2,500, which is slightly on the higher side. Greendax also offers a wide range of account types that you can choose from depending on your trading needs and requirements.

Greendax offers leverage of up to 1:400 on its trading platform. Leverage is a double-edged sword as it can magnify both your profits and losses. Therefore, you must be mindful when using leverage and always trade within your risk appetite. Compared to other brokers, leverage at Greendax is good as it gives higher flexibility to traders.

Spreads fee details at Greendax

Greendax offers variable spreads, which are subject to change according to market conditions and liquidity, but they're generally quite competitive. In addition, there is no commission charged on trades by Greendax.

Spreads in trading are common; it is the difference between the buy and sell price of an underlying asset. For example, if the market price for EUR/USD is 1.0952 and you want to buy the pair, your broker will offer you to buy at 1.0952. However, if you sell immediately, your broker will provide you with a lower price, e.g., 1.0950, and the difference between these two prices is called a spread.

Swap fees at Greendax

As a trader, you need to pay an overnight fee or swap charges when you hold a position open for more than 24 hours. The fee depends on the instrument you're trading and whether it is a buy or sell position. For example, the swap fee for buying EUR/USD is -0.00014, and for selling EUR/USD, it is 0.00024.

The swap fee varies from broker to broker, and Greendax has not given the exact swap fee details on their website. However, you can contact their customer support to know more about it.

Deposit and withdrawal options at Greendax

Greendax offers a wide range of deposit and withdrawal methods, including credit/debit cards, bank wire transfers, e-wallets, and cryptocurrency. The minimum deposit amount is $2,500. Deposits are processed within 24 hours. However, the time required for the amount to reflect in your account may vary depending on your chosen method.

Regarding withdrawal at Greendax, the minimum amount is not mentioned on their website. Withdrawals are processed within 3-5 business days. The time required for the amount to reflect in your account may also vary depending on your preferred method. Moreover, deposit and withdrawal methods are smooth, and you can perform transactions from your mobile phone.

Both the deposit and withdrawals at Greendax are secured with SSL encryption. The broker uses 2-factor authentication (2FA) to further protect your account. Overall, we can say that the security features at Greendax are up to the mark. Moreover, as Greendax follows KYC and AML policies, clients must undergo a KYC procedure. In KYC, customers need to submit their identity proof and address proof.

In addition, Greendax also accepts deposits with Bitcoin, making it one of the few brokers that accept cryptocurrency as a deposit method. With bitcoin, it becomes easier for international clients to make deposits and withdrawals without any hassles.

Tradable markets at Greendax

Greendax is a multi-asset and CFD broker that offers a good range of tradable assets, including cryptocurrency, forex, commodities, indices, and stocks. The broker does not provide any ETFs or bonds for trading.

The cryptocurrency CFDs offered by Greendax include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Ripple (XRP), Dash, Monero (XMR), Ethereum Classic (ETC), Cardano (ADA), IOTA, NEO, EOS, TRON, and Stellar (XLM).

Regarding forex trading at Greendax, there are 50+ major, minor, and exotic currency pairs to trade, including EUR/USD, GBP/USD, USD/JPY, AUD/CAD, and more. With a leverage of 1:400 in forex trading, clients can take a significant position in the market with a small amount of capital.

The commodities CFDs offered by Greendax include Gold, Silver, Brent Oil, WTI Oil, Natural Gas, and more. You can trade these commodities at Greendax with leverage of up to 1:400. Commodities CFDs are a popular choice among traders as they offer high leverage and the ability to go long or short. Moreover, the energy market is highly volatile, leading to quick profits.

The indices CFDs offered by Greendax include the US30, Japan225, UK100, Germany30, France40, and more. These indices can be traded with leverage of up to 1:400 at Greendax. Moreover, the indices trading at Greendax come with tight spreads that help traders save on costs.

The stocks CFDs offered by Greendax include the shares of major companies such as Amazon, Facebook, Alphabet (Google), Apple, Microsoft, and more. You can trade these stocks with leverage of up to 1:400. In addition, the stock CFDs at Greendax come with tight spreads and no commission. Greendax offers a good range of assets for trading in competitive conditions.

Leverage information at Greendax

The leverage at Greendax is up to 1:400, which is above the average in the industry. This high leverage ratio means traders can take more prominent positions with less capital, which also increases the potential for profits. However, the losses can also be magnified, so it's important to use leverage wisely and only take on calculated risks.

For example, with leverage of 1:400 at Greendax, if you have $300 in your account, you can trade a position worth $120,000. However, if the asset price moves 1% against you, your account will lose $1,200, which is four times the initial amount you had at risk. So it's important to remember that leverage can amplify your profits and losses.

Greendax trading platforms

The broker offers its proprietary web trading platform as a desktop application and mobile app. The user-friendly software comes with all the advanced charting tools and indicators for technical analysis. In addition, the platform is flexible and customizable as per the trader's preferences and needs, including multiple language support. Let's look at all the trading platforms of Greendax briefly:

Greendax desktop platform

The desktop trading platform is available as a downloadable software application. It is user-friendly and comes with an advanced charting package and a wide range of technical indicators. The platform is also customizable according to the trader's needs and preferences. Some of the key features of the Greendax desktop platform are an advanced charting package, a wide range of technical indicators, a customizable interface, and many more. In addition, the platform also supports multiple languages.

Greendax mobile app

The Greendax mobile trading app is available for both Android and iOS devices. The app is user-friendly and comes with all the features and functionalities of the desktop platform. With the Greendax mobile app, you can trade on the go and access your account from anywhere in the world. Moreover, you can also get real-time market updates, analysis, and commentary through the app. In addition, you get most of the essential features in the Greendax mobile app that you find in the desktop platform, including an advanced charting package and a wide range of technical indicators.

Greendax web trading platform

The Greendax web trading platform is a full-fledged trading platform that doesn't require installation or download. This web trading platform is quick to access from any browser and can be used on any operating system. The platform is user-friendly and comes with all the features and functionalities of the desktop trading platform. You can also get real-time market updates, and all the desktop platform features in the Greendax web trading platform. If you don't want to install the desktop version, this Greendax platform is the best option. Below are some key features of the Greendax trading platform:

Superior charting tools

The broker offers a superior charting package with all the advanced charting tools and indicators for technical analysis. These charting tools help traders to make informed trading decisions.

Low latency

The Greendax trading platform is designed for low latency so that traders can get the best possible trading experience. The average order execution time at Greendax is 0.20 seconds which is excellent for boosting and optimizing the risk management for traders. Along with manual execution, you can also trade using the auto-trading feature of the platform.

1200+ assets

The broker offers more than 1200 assets for trading, including crypto, forex, commodities, indices, and stocks. Moreover, you can trade all these assets on the same platform with just one login.

Available accounts on Greendax

Greendax offers six trading accounts, meeting all requirements of different traders. Below are the details of Greendax accounts:

Beginner

The minimum deposit for this account is $2,500, and it offers basic access to market instruments with a leverage of 1:400. With the Greendax Beginner account, you can access the desktop/web trader and mobile trading platforms. You also get analytical materials and one-click trading. Moreover, you get all the standard market instruments with this Greendax account.

Standard

The Standard account is the most famous account type on Greendax, with a minimum deposit of $5,000. With this account, you get full access to all market instruments and advanced features such as swap-free/Islamic and daily analysis. The leverage offered on the Standard account is 1:400, and you can also access the desktop/web and mobile trading platforms. If you opt for a Greendax Standard account, then you also have the option to choose a swap-free Islamic account.

Intermediate

The minimum deposit for the Intermediate account is $25,000. This account offers all the Standard account features with some additional benefits such as market coverage and a personal account manager. The leverage on the Intermediate account is 1:400, and you also get access to swap-free/Islamic accounts. Moreover, you also get full access to the desktop/web and mobile trading platforms.

Advanced

The Advanced account is designed for experienced and professional traders with a minimum deposit of $50,000. This account offers all the features of the Intermediate account with some additional benefits, such as special market coverage and advanced trading strategies. The leverage on the Advanced account is 1:400, and you also get access to swap-free/Islamic accounts. In addition, you also get full access to the desktop/web and mobile trading platforms like all the above Greendax accounts.

Integral

The Integral account is designed for institutional and high-net-worth clients with a minimum deposit of $100,000. This account offers all the Advanced account features with additional benefits such as personalized service and private instant support. The leverage on the Integral account is 1:400, and you also get access to swap-free/Islamic accounts.

VIP

The VIP account is designed for institutional and high-net-worth clients with a minimum deposit of $250,000. This account offers all the features of the Integral account with some additional benefits, such as a VIP personal manager and unique event invitations. The leverage on the VIP account is 1:400, and you also get access to swap-free/Islamic accounts.

How to open a trading account with a Greendax broker

Follow the below steps to open a live trading account with Greendax:

● Visit the official website of Greendax broker and click on the start now button.

● Fill in the online registration form with your details.

● Submit the required documents for account verification.

● Once your Greendax account is verified, you can make a deposit and start trading.

Greendax customer support details

Greendax offers 24/5 customer support through phone and email in English. Below are the Greendax contact details:

● Phone: +18008316765

● Email: info@greendax.com

Research tools at Greendax

Greendax offers a wide range of research tools and resources to its clients. Below are the essential tools available at Greendax:

Economic calendar

The economic calendar at Greendax provides the traders with all the upcoming economic events and data releases that have the potential to impact the financial markets. Moreover, it helps traders be aware of the critical market-moving events and plan their trading accordingly.

Derivatives expirations

The derivatives expirations tool at Greendax helps traders keep track of all the upcoming contracts that are set to expire. It is a helpful tool for those who trade derivatives as it allows them to take appropriate positions in the market and avoid any last-minute surprises.

Trading hours

The trading hours tool at Greendax provides traders with a complete list of all the tradable assets and their respective trading hours. It is a helpful tool for those who want to know the exact times when they can trade a particular asset.

Educational material available at Greendax

Greendax offers a comprehensive news section that covers all the latest news and updates from the financial markets. The greendax broker also has an education center where traders can find a range of learning materials, including video tutorials, e-books, and articles. The education center is suitable for both beginners and experienced traders.

Moreover, Greendax offers methodologies, approaches, and frameworks to develop your understanding of being a trader in the international financial markets. These trading materials will help you build your core knowledge and make informed trading decisions.

Greendax in a nutshell

Greendax is an emerging online broker offering a good range of tradable assets, including cryptocurrency, forex, commodities, indices, and stocks. The Greendax company is based in Hong Kong and provides a leverage of up to 1:400 and a minimum deposit of $2,500. Greendax also has a proprietary web trader for desktop and mobile application platforms. However, the broker has yet to receive its regulatory license from the authorities, but they are operating with an offline permit.

Moreover, Greendax offers multiple base currencies. However, there is no demo account facility available which is a drawback. Overall, we can say that Greendax is a good broker with a range of tradable assets and competitive trading conditions. The broker also has a dedicated news section and an education center with learning materials for beginners.

FAQs:

What is the minimum deposit at Greendax?

The minimum deposit at Greendax is $2,500.

What is the leverage offered by Greendax?

The leverage offered by Greendax is up to 1:400.

Does Greendax offer a demo account?

No, Greendax does not offer a demo account.

Is Greendax a regulated company?

Greendax is not a regulated company, but they operate with an offline license.

What are the deposit methods at Greendax?

The deposit methods at Greendax include bank transfers and credit/debit cards.

What are the withdrawal methods at Greendax?

The withdrawal methods at Greendax are the same as the deposit methods like bank transfers and credit/debit cards.

How do I open an account with Greendax?

The account opening process at Greendax is straightforward. You just need to complete the Greendax online registration form and submit the required documents. Once your account is approved, you can make a deposit and start trading.

Does Greendax support MT4 & MT5?

No, Greendax does not support MT4 & MT5.

What are the spreads at Greendax support?

The spreads at Greendax are variable and change as per the market conditions.

What is the minimum trade size at Greendax?

The minimum trade size at Greendax is 0.01 lot.

How to contact greendax customer support?

Customer support at Greendax is available 24/5 through phone and email in English.

Does Greendax offer educational content?

Greendax offers a full-fledged news section covering all the latest market updates and analyses.

Can US residents open accounts at Greendax?

US residents cannot open accounts at Greendax as the broker does not accept clients from the USA.

How can I change my password at Greendax?

You can change your password at Greendax by logging into your account and going to the 'My Profile' section. From there, you can change your trading account password easily.

What account types does Greendax offer?

Greendax offers six accounts — Beginner, Standard, Intermediate, Advanced, Integral, and VIP.