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Greendax Review – Are They Safe or a Scam?

Our Greendax Review 2022

Greendax is a fairly new arrival to the online trading fraternity. As such, it isn’t always easy to gather info on the brand. That’s why our team has set about taking this product apart to discover exactly what it has to offer.

Our Greendax review shows what trades are possible, how user-friendly the setup is and what features are lurking behind the scenes for new customers to enjoy. The team at Greendax are keen to make trading as transparent and simple as possible for everybody. And this shines through in their latest addition to the world of online trading.

80/100
Rating
Greendax Highlights
  • Various Forex pairings
  • Easy to use site
  • No payment fees

New Customer Offers - What new customers should expect at Greendax

Signing up for an account at Greendax gives you access to a range of markets including currencies, commodities, spot metals and others. There are currently over 1200 assets on display. Importantly, there are various different account types available to align with your needs and a range of platforms and tools to make the experience as streamlined as possible.

In our Greendax review, we quickly discovered that the aim of this brand is to make the whole process as pleasant and transparent as possible. Essentially, they give customers confidence to trade with ease. You’ll be free to access a versatile client support area that will answer any of the queries you may have. Moreover, this is also available in various languages, which is a huge plus.

Greendax provides access to the most modern technology and an extensive range of resources to ensure that you are trading effectively with every investment. They boast tight pricing, low-cost margin and low latency to give you the edge you need to get ahead in this competitive marketplace.

Getting your preferred account up and running is simple and only requires a few contact details to get the ball rolling. However, you will need to comply with know your customer rules before verifying your account and making your first deposit. There is a minimum of $2,500 required to begin trading with the most basic account.

80/100
Rating
Greendax Highlights
  • Various Forex pairings
  • Easy to use site
  • No payment fees

Usability - Greendax is both dependable and robust

One of the most important things for us to discover during our Greendax review is just how user-friendly the platform is. And while this brand offers a wealth of features, it still remains logical in its approach. There’s enough here to impress experienced traders while at the same time making things straightforward for newbies as well.

Charting tools are essential for customers to access real-time data and keep an eye on their assets. Greendax provides some of the most superior charts including personalised watch lists and allows you to view them in different time frames as well. The list of assets on offer is impressive, featuring over 1200 of them—including Greendax crypto— across the trading platform. Access to all of these is straightforward and coherent. In addition, you’ll also enjoy fast execution of trades thanks to the low latency which averages out at around 0.20 seconds. As our Cinpax review taught us, performing trades without unnecessary delays is definitely at the top of the wishlist for most investors.

It is possible to access the full range of features across the desktop and mobile applications as well. Trading via the web will use your standard web browser with any operating system. And we are pleased to say that both iOS and Android customers are well looked after too.

Accounts - Account options at Greendax

There are several account types available for new customers. And if at any point you wish to change, then contact Greendax and request to upgrade to receive more enhanced features. Let’s take a look at the basic info surrounding the different accounts available.

Firstly, there is the beginner account, which has a minimum trading deposit of $2,500. With this account, you will get basic market instruments as well as a desktop/web terminal, mobile trading, analytical materials and one-click trading as well. It’s not a bad offering for the most basic account. Moving on from there, you will see the standard account, intermediate and advanced level accounts. The highest standing that you can have with Greendax is the VIP account. You’ll need a minimum of $250,000 in your account to open up this special offering. You’ll be invited to events and have access to a VIP manager as well.

As you can see from our Greendax review, it’s possible to request an Islamic account to avoid any swaps that incur interest payments. This is the same for many brands as shown in our FXRevenues review. The only Greendax account that does not have this option is the beginner account.

An inactivity fee is payable although it isn’t easy to find information about specific fees with this brand. The terms and conditions state that you will be contacted in the event of account inactivity and informed of any fees via email.

Trading Platforms - Our Greendax review

We have to say that the high-feature platform has plenty to offer. It has a simple and easy-to-use interface with many tools that are created to make your investment choices as straightforward as possible. One of its main features is that it is a low-latency trading platform. This means that it uses algorithmic trading and is able to react to market changes quickly.

Throughout our Greendax review, we found the web-based setup to be extremely appropriate for most traders. This approach makes it available via all devices and the most popular operating systems should all cope fine as long as sufficient tech is being used. Enjoying this product on Android and iOS mobile devices means you’re able to react to market changes wherever and whenever you are.

Payments - A good selection

It doesn’t cost anything to get money in and out of the green tax broker platform. The minimum amount will depend on the type of account that you choose. As we’ve seen this can range from $2,500 and goes all the way up to $250,000 for those getting on board with the VIP account.

Greendax doesn’t mention any specific info on its website regarding payment options and the size of spreads either. We have found information in other areas stating that it’s possible to pay by debit card, credit card and also using Bitcoin as well. But we cannot clarify this information directly.

Visa
Mastercard
Bitcoin

Fees – Expected fees from Greendax

The terms and conditions state various possibilities of fees in certain circumstances. For unimplemented trades where shares are waiting in the completion process or are reserved, there is an equivalent percentage amount from 1% to 5% applied.

There are also undisclosed fees applied to inactivity on the account. And as we mentioned before, you won’t find out what these are until they inform you that your account is inactive. Fees like these should be clearly stated as we’ve found with other trading platforms during our CryptoGo365 review and others.

No fees are charged for making payments in any of the currencies that Greendax accepts as standard. This is fine if you are using any of the major fiat currencies or crypto that are accepted here with this platform. If you do need to change your preferred currency, then it would be best to contact the site first to make arrangements. Making payments that involve a currency conversion each time could get costly depending on the fee that they decide to apply.

Customer Service - Contacting Greendax

Greendax reviews, like all our others, are hot on the heels of trading platforms that don’t facilitate easy contact with the brand. Thankfully, there are several ways that you can get in touch. Heading over to the support section you’ll find that it’s possible to make first contact in 4 different ways.

Firstly, there is a contact form. It’s unlikely that you will get an immediate response; however, they will get back to you in due course. You can give them a call on their 1-800 number if you need to get something sorted fast. We aren’t sure if this number is available 24/7 but it certainly should be during regular office hours. There is an email address to use to get in touch if you have a longer query that may take a little extra effort to explain. And they present the Hong Kong address as well on the support page.

Regulation & Deposit Insurance - Greendax regulation

In most cases, a trading platform will make it perfectly clear which jurisdiction covers their trading activity. Regulation from the FCA in the UK, or the Cyprus Securities and Exchange Commission among others are the best source of insurance against any issues that arise with a trading brand like this.

Our Finaguide review highlights just how important it is to keep investors safe while trading online. And Greendax endeavours to achieve this by implementing its own high security standards. It’s clear when you land on the site that all data is protected by the latest SSL protocols; this ensures the safety of any info in transit between the user and Greendax’s servers. In addition, the brand also maintains the highest levels of care in regards to KYC and anti money laundering as well.

SVGFSA - St. Vincent & the Grenadines Financial Services Authority

Additional Features - More to like

One of the main things we like about this brand is the easy-to-use website and simple terms that they use. However, keeping things that simple does lead to a lack of detailed information. Moreover, it can make it difficult to get down into the raw details of the operation. Navigating the site is simple and having a web-based platform will certainly appeal to most people. There is also an addition to the site with the latest news from around the world of finance in their blog. This is a nice touch that not many brands keep up to date with. But there are regular updates to this new section, which is always helpful.

Greendax Forex

Forex Trading Offer from Greendax

Many new traders are excited about the prospect of investing in currency pairs. It’s one of the most well-known and exciting ways to get involved. Our Greendax review found that there is mention of a few different forex-pair trades available and these include currencies such as GBP, EUR, USD and YEN to name but a few.

The good thing about using a trading platform like this is that you can buy and sell these trades effortlessly. You’re simply able to speculate on the currency pairings using your own deposited currency of choice. This effectively gives you a way to enjoy the minute-by-minute movements of global currencies simply and quickly.

Forex Trading Costs

One thing that struck us during this and our Demaxis review is that the spread commissions are not openly discussed throughout the website. Trading platforms like these that deal with spread betting and CFDs take their cut from the spread that exists between the sell and the buy price. Knowing this figure will show how far a price needs to move before you begin to profit from a trade and is important to be aware of.

Although it does mention that getting money in and out of the account won’t incur any deposit or withdrawal fees. This is always a good sign when you consider that the highest level account for VIPs requires $250,000 to be deposited. This could add up to quite a sizable chunk if a commission were in place.

Forex Trading Conditions

Our Greendax review found that this brand is consistently making it as easy as possible for customers to begin trading and get their own portfolios up and running. They don’t lay on too many terms and conditions for new customers other than a couple of restrictions in a geographical sense.

It isn’t possible to use this product for residents of North Korea, Iraq or the United States either. But for people in all other parts of the world, it’s simple to get an account up and running and make a deposit. Once the money is in your account, you can begin to select the trade that you’re interested in and use the full range of features and tools that they make available to you.

Product Summary

With all of our trading platform assessments, we aim to be as impartial as possible. And this includes giving an honest conclusion about the product. After completing our Greendax review, we have to say that the website is laid out extremely clearly, but to gain further information you would need to delve deeper into the many pages of terms and conditions or contact the company first. However, one thing that this brand does well is to present all key info regarding tools and investment instruments in a very logical fashion. And this makes it a great choice for anyone looking to get started with online trading.

80/100
Rating
Greendax Highlights
  • Various Forex pairings
  • Easy to use site
  • No payment fees

Greendax review FAQ

🪙 Is Greendax safe?

When using any trading platform it is super important to guarantee your safety and security. Your money and personal data are at risk if you do not take every possible measure to guard them. We will give you a full rundown of all of the security aspects of this brand so you can decide if you are happy to sign up for an account and make a deposit.

❓Are there any Greendax scams to be aware of?

Everything that you need to know about this brand is contained within our Greendax review. We leave no stone left unturned in our quest to find out exactly what this trading platform has to offer and just how safe and reliable it is to use. Step inside and check out all of the vital details that you need right now.

📊 What is Greendax?

There are many online trading platforms available on the market right now. It’s difficult for customers to know where to turn when it comes to creating their next account. For that reason, we’ve put together our full and unbiased review that shows you what this brand has to offer, how to create an account and all of the important details to go along with it.

🤝 Is Greendax reliable?

The Greendax brand offers many trading opportunities for both beginners and experienced traders alike. You can speculate on crypto, foreign exchange, commodities and several others as well. If you want to know how reliable the platform is and exactly how you can make this brand work for you in your quest for investment greatness, then take a look at our review.

Overall Conclusion - Our verdict on Greendax

On the whole, our Greendax review produced some very favourable results. There are many ways to trade including cryptocurrencies, foreign exchange, commodities and stocks and shares as well. It’s great that you don’t need a crypto exchange to enjoy this element of their product and shows that they are keen to keep things as simple as possible. It is easy to get an account up and running. But you will need to be prepared to prove your identity before beginning to trade. The platform is available for desktop and mobile as well. So all bases are covered in that respect. The main issue that we have with the brand is surrounding the lack of clarity for licensing and regulation. And we would like to see them add more info regarding this to their website.

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