Daxbase Forex binary options broker review — Everything you need to know

Daxbase is the website of an FX broker, and the company behind the website is DX Base LTD. The broker is mainly a binary options broker and it is unregulated.

In this review, we will assess the critical features of the Daxbase binary options broker to define its safety, accounts, commissions, and other important conditions.

Daxbase Overview of the website

The website of Daxbase binary options broker lacks almost all important details like spreads, payouts, and so on. There is only info about account types and even it is unfinished. The broker has a high minimum deposit and does not make up for it with its high-quality services and conditions. The website, while responsive and fast, is minimalistic. The lack of crucial details is a critical flaw of this broker and indicates that there is a high chance of it being a scam. Reputable barkers have professional websites where they disclose all crucial information which is critical for traders to understand before investing and trading on its platform. Hiding important data only serves one goal: to lure traders into a platform where conditions are not attractive.

Overall, the website of Daxbase is unprofessional and makes the broker look like a standard scam.

Daxbase Accounts Reviewed

DAxbase offers three account tiers, bronze, silver, and gold. The tier of the account is defined by its deposit size. The bronze is the cheapest while the gold tier requires large deposits. Let’s briefly overview each of the accounts to see whether the broker has any competitive edge over competitors.

Daxbase Bronze Account

The bronze account is an entry-level binary options account with the following trading conditions:

• Minimum deposit – 250 USD
• Maximum leverage – 1:100
• Spreads – Unknown
• Commissions – Unknown
• Minimum lot size – Unknown
• Minimum binary options trading size – 1 USD
• Payouts for binary options gambling – Unknown

Daxbase Silver Account

The silver account requires just a higher minimum deposit while all other conditions are similar to the bronze account:

• Minimum deposit – 1,000 USD
• Maximum leverage – 1:100
• Spreads – Unknown
• Commissions – Unknown
• Minimum lot size – Unknown
• Minimum binary options trading size – Unknown
• Payouts for binary options gambling – Unknown

Daxbase Gold Account

The Gold account has an even higher minimum deposit requirement and offers mostly similar conditions:

• Minimum deposit – 3,000 USD
• Maximum leverage – 1:100
• Spreads – Unknown
• Commissions – Unknown
• Minimum lot size – Unknown
• Minimum binary options trading size – Unknown
• Payouts for binary options gambling – Unknown

As we can see, the broker does a terrible job of providing crucial details about its accounts such as spreads, commissions, and more.

Deposit and withdrawal options at Daxbase

Deposits and withdrawals are possible using many different payment methods at Daxbase. This includes cryptos like Bitcoin, Ethereum, altcoins, Visa, MasterCard, and PerfectMoney. The broker promises 1-hour withdrawal processing for all three accounts, which is super competitive in this sector. However, when a broker that is not regulated offers something that seems too good to be true, it should not be trusted. The deposits are instant and there are no fees charged for deposits and withdrawals except for bank cards, which is 5%.

Daxbase Assets — What can you trade?

The broker offers access to popular currency pairs which mainly consist of major pairs and few minors. There are no other asset classes provided, which is a downside. There is a possibility to both trade the FX markets and gamble on binary options. The broker is mainly a binary options broker but it also allows trading. The leverage is up to 1:100 for trading which is conservative in fact.

Overall, the broker lacks asset diversification, which makes it unsuitable for multi-asset traders. The broker is more focused on providing access to binary options which are very similar to gambling.

Trading platforms of Daxbase

The broker does not offer any advanced trading platform. Instead, there is a custom web trading platform, which lacks basic advanced features. The trading platform is not mobile-friendly and traders need desktop or large tablets to access it and use all of its features, which is a serious drawback. The lack of advanced platforms and access to a custom-built platform developed by unregulated brokers is a serious red flag and traders are advised to be extremely cautious here.

Education at Daxbase

The broker does not provide educational resources at all, which is yet another drawback. There are no webinars, trading courses, or video content. The broker does not provide trading blogs or glossaries either, making it extremely unsuitable for novice traders. Many binary options brokers are scams and they do not need to educate their traders.

Daxbase Customer Support

Customer support at Daxbase includes live chat access, phone support options, and an email. There are several phone numbers available and the broker also provides a callback feature. When it comes to multilingual support, the website and support channels are available in several different languages, which is a plus.

Daxbase bonuses and promotions

The broker provides increasingly large bonuses depending on the deposit amounts:

• Deposit amount: 250 USD – Bonus percentage: 20%
• 500 USD – 50%
• 3,000 USD – 100%

The more the trader deposits, the higher the bonus percentage incentivizing traders to deposit large sums. However, there are conditions and requirements for these bonuses and traders should read them carefully.

Is Daxbase your broker? Final verdict

Daxbase has been operated by DX Base LTD since 2017, and it is an unregulated binary options and Forex currency pairs broker. While it offers attractive features like fast withdrawals (1-hour processing) and deposit bonuses of up to 100%, its lack of transparency – no spreads, payouts, and clear fee structure, makes it very risky. The broker is an offshore broker with a non-mobile platform and no educational materials, which makes it very difficult to not call it a scam.

Overall, Daxbase resembles a typical high-risk and potentially scam binary options site and traders should avoid investing serious money in it.

FAQs on Daxbase broker

Where is Daxbase based?

Daxbase is operated by DX Base LTD, registered in Majuro, Marshall Islands, which is an offshore jurisdiction known for less stringent rules and regulations regarding FX and binary options brokers.

Can you withdraw from Daxbase?

While the broker promises super fast under 1-hour withdrawal processing, we could not confirm if the broker actually allows its traders to withdraw profits, and stay safe.