Greendax is a Hong Kong-based online broker
that trades in Crypto, Forex, Commodities, Indices, and Stocks. Greendax
company is relatively new, having been founded in 2022. Greendax does not
disclose much information about itself on its website, but what is available
indicates that it is a professional operation.
The broker offers a web-based trading platform
and a mobile app. The platform is proprietary and designed for desktop
computers and mobile devices. The Greendax platform has a simple and
user-friendly interface. The broker offers multiple base currencies, including
USD, EUR, GBP, and HKD.
The minimum deposit required at Greendax to
open an account is $2,500. The leverage range offered by the broker is up to
1:400. Greendax does not offer a demo account, but it does provide 24/5
customer support.
Greendax is yet to receive its regulatory
license from authorities, but they're operating with an offline license.
Moreover, Greendax also offers crypto trading with ultimate ease.
The deposit and withdrawal process at Greendax
is smooth and convenient, with multiple options like credit/debit cards, bank
wire transfers, and e-wallets. Moreover, when it comes to market updates,
Greendax offers a dedicated news section on their website, which is regularly
updated.
Deposits and withdrawals are free at Greendax,
which is a great advantage. Greendax is a new but reliable online broker with a
good range of tradable assets, a user-friendly platform, and multiple base
currencies. The overall sign-up process is simple and easy, making it an
excellent choice for beginner traders. Once the quick KYC is done, you can
start trading within minutes.
Greendax safety details
As mentioned earlier, Greendax is yet to be
regulated by any financial authority, but they are in the process of acquiring
an online license. However, Greendax is a reliable and safe broker with an
offline license.
Greendax has carefully implemented all the
security measures to keep the client's information and funds safe. In addition,
they have implemented SSL encryption, the industry-standard security protocol.
The SSL implementation helps maintain the confidentiality of transmitted data
between the client and the Greendax server.
Moreover, Greendax has also segregated the
client's fund, which means that your money is kept in a different account than
the company's operational funds. As a result, it ensures that even if Greendax
faces financial difficulties, your money will be safe, and you can withdraw it
without any issues.
Besides that, Greendax has also implemented
KYC (Know Your Customer) and AML (Anti Money Laundering) policies to ensure
that all the clients are legitimate and their funds are not involved in any
illegal activities. In addition, the AML protocol at Greendax helps prevent and
detect any suspicious or fraudulent activities.
Greendax is a new but reliable online broker
yet to be regulated by any financial authority. However, the broker has
implemented all the necessary security measures to ensure your money is safe
and secure.
Greendax fees details
Greendax does not charge anything for deposits
and withdrawals, but you might have to pay the third-party charges like bank
charges, etc. when using wire transfer for withdrawals. Also, there is no
inactivity fee charged by Greendax.
Greendax offers trading in Crypto, Forex,
Commodities, Indices, and Stocks with leverage of up to 1:400. The spreads
offered by Greendax are pretty competitive, and the exact spread details are
not mentioned on their website. However, Greendax has mentioned that they
provide variable spreads to its clients. Therefore, you can get in touch with
their customer support to know the current spreads. Like any other broker,
Greendax also earns from spreads, which is the difference between an asset's
bid and ask price.
The minimum deposit required at Greendax to
open an account is $2,500, which is relatively high compared to other brokers
in the industry. However, this amount can be quickly deposited via credit/debit
card or bank wire transfer.
Spreads fee information at Greendax
In trading, a spread fee is something that a
trader pays for every executed trade. It is the difference between a security
or asset's bid and the asking price. The spread fee is generally expressed in
pips. Greendax offers competitive spreads on major currency pairs like EUR/USD,
GBP/USD, and USD/JPY. Moreover, the broker also offers tight spreads on exotic currency
pairs and commodities.
For example, if the market price of GBP/USD is
1.3050 and the asking price is 1.3051, then the spread will be one pip.
However, the bid price is generally lower than the asking price, resulting in a
loss for the trader.
Swap fees information at Greendax
Almost all brokers have swap fees, and
Greendax is no different. Swap fees are simply the cost of holding a position
overnight. These are charged as a percentage of the total value of the trade
and vary depending on the instrument and the direction (long or short) of the
position.
Greendax has not mentioned the number of swap
fees charged on their website, but they have stated that these fees will be
competitive. You can contact Greendax directly to find out more about their
swap fees.
Deposit and withdrawal methods at
Greendax
Greendax brings a variety of deposit and
withdrawal methods. You can choose from the available options of Credit/Debit
Cards, Bank Wire Transfers, and e-Wallets. The process is quite simple and
convenient. All you need to do is log in to your account, go to the 'Banking'
page, select your method, and enter the amount you wish to deposit or withdraw.
The funds will be credited/debited to/from your account within a few minutes.
When it comes to withdrawal, the minimum
withdrawal amount is not mentioned on the Greendax website. The withdrawals at
Greendax are done instantly but depending on the bank; it takes around 3 to 5
days for the funds to get credited to your account. In addition, bank Wire
Transfer is one of the most popular methods for withdrawing money from Greendax
brokers.
The overall deposit and withdrawal methods are
pretty smooth and convenient. In addition, they've implemented a fast and easy
KYC process which is quite helpful, especially for beginner traders. As
Greendax is KYC and AML compliant, you must submit your documents for
verification. The verification process at Greendax process is simple and easy,
and it doesn't take more than a few minutes to get it done.
Overall, Greendax brings a great variety of
deposit and withdrawal methods which are pretty smooth and convenient. The
overall sign-up process is simple and easy, making it an excellent choice for
beginner traders. Once the quick KYC is done, you can start trading within
minutes with Greendax.
Tradable markets at Greendax
Greendax is an emerging multi-asset broker
that offers a good range of tradable instruments across different markets.
They've over 1200+ assets covering stocks, forex, commodities, indices, and
cryptocurrencies. You can trade all these assets on a single trading platform
which is quite simple and user-friendly.
The broker offers multiple base currencies,
including USD, EUR, GBP, and HKD. It is an excellent advantage as it allows you
to trade your currency without converting it first. In addition, the leverage
range offered by Greendax is up to 1:400, which is relatively high.
Regarding forex trading at Greendax, you can
trade in over 50 currency pairs. The Greendax broker offers leverage of up to
1:400, which is high. You can trade all the major, minor, and exotic currency
pairs at Greendax. Some popular currency pairs at Greendax are EUR/USD, GBP/USD,
USD/JPY, and USD/CAD.
The broker also offers a good range of trading
commodities, including gold, silver, oil, and gas. You can trade all these
commodities on the Greendax platform with leverage of up to 1:400. Commodity
trading at Greendax is quite simple and easy.
Greendax also offers trading in a good range
of stocks, including major US, European, and Asian companies. You can trade all
these stocks on the Greendax platform with leverage of up to 1:400. In
addition, you have access to shares of companies like Apple, Facebook, Google,
and Tesla at Greendax.
The broker also offers trading in a good range
of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.
You can trade all these cryptocurrencies on the Greendax platform with leverage
of up to 1:400. Crypto trading at Greendax is quite simple and easy.
Greendax also offers trading in a good range
of indices, including major US, European, and Asian indices. You can trade all
these indices on the Greendax platform with leverage of up to 1:400. Some
popular indices at Greendax are S&P 500, Dow Jones, and NASDAQ.
Leverage details at Greendax
The leverage that Greendax offers is up to
1:400, which is a good range. It means that you can trade with a higher amount
than what you have in your account. However, it is essential to remember that
leverage is a powerful add-on that accelerates profit and loss.
At Greendax, with a leverage of 1:400, if you
have $200 in your account, it will allow you to trade with $80,000. If the
price of the asset you bought increases by 1%, your investment will increase by
$800. However, if the price falls by 1%, you will lose $800.
Greendax trading platforms
Greendax offers its proprietary web trader for
desktop and mobile applications. The Greendax web trader is a simple and
user-friendly platform designed for use with desktop computers and mobile
devices. The platform has a range of features, including live market updates,
price charts, and various order types. Moreover, Greendax also offers a
dedicated desktop platform that you need to install before trading. Let's look
at all trading platforms available at Greendax:
Greendax desktop software
The desktop software is a downloadable
platform designed for use with Windows computers. The software has a range of
features, including live market updates, price charts, and various order types.
This dedicated desktop trading system is ideal for those who want to trade
using a computer and need the highest level of trading and latency stability.
You get all the features of the web trader but with the added stability that
comes from using a dedicated desktop platform.
Greendax web trader
The Greendax web trader is a simple and user-friendly
platform designed for use with desktop computers and mobile devices. The
platform has a range of features, including live market updates, price charts,
and various order types. You get access to all the platform's advanced features
without having to download and install any software. The best part about the
Greendax web trading platform is that it is available on the go, making it
highly convenient for traders.
Greendax mobile trading app
The Greendax mobile trading app is available
for Android and iOS devices. The app has a simple and user-friendly interface
that is designed for use with mobile devices. The app offers a wide range of
advanced features like technical analysis, live market updates, price charts,
and various order types. In addition, you can access the app on the go, making
it highly convenient for traders. On this note, let's look at some of the
cutting-edge features of the Greendax trading platform:
Excellent charting tools
Greendax offers a wide range of charting tools
that you can use to analyze the markets. The charts are interactive, and you
can use a variety of technical indicators to make your analysis.
Low latency
Greendax has a low latency trading
infrastructure that ensures you get the best possible execution speed. Greendax
has mentioned on their website that the average order execution takes around
0.20 seconds which is excellent for day traders. Moreover, low latency at
Greendax also helps with superior risk management for all the traders.
1200+ assets
Greendax offers a wide range of tradable
assets, including crypto, forex, commodities, indices, and stocks. You can
trade all these assets on the Greendax trading platform.
Available accounts on Greendax
Greendax offers six
trading accounts to meet the requirements of different traders:
Beginner
The minimum deposit for this Greendax account
is $2,500, offering basic access to market instruments with a leverage of up to
1:400. Moreover, the Beginner account at Greendax offers features like
one-click trading, access to mobile trading, and analytical materials. This
Greendax account is ideal for beginner traders.
Standard
The Standard account on Greendax requires a
minimum deposit of $5,000 and offers 24/5 customer support. This account also
gives access to mobile trading, analytical materials, daily analysis, and
one-click trading. The leverage for the Standard account is up to 1:400.
Moreover, with a Greendax Standard account, you can open a swap-free/Islamic
account.
Intermediate
The Intermediate account at Greendax requires
a minimum deposit of $25,000, and it offers all the Standard account features.
In addition, the Intermediate account gives access to market coverage with a
leverage of up to 1:400. Therefore, this Greendax account is best suited for
intermediate-level traders. Moreover, you can open an Islamic account with
Greendax Intermediate, and you have access to exclusive market coverage.
Advanced:
The Advanced account is among the most
exclusive accounts offered by Greendax, with a minimum deposit of $50,000. This
account gives access to all the features of the Standard and Intermediate
accounts. In addition, the Advanced account offers special market coverage and
a personal account manager. The leverage for this Greendax account is up to
1:400, which makes it ideal for advanced-level traders.
Integral
The Integral account at Greendax is the most
exclusive account offered by the broker, with a minimum deposit of $100,000.
This account gives access to all the features of the Standard, Intermediate,
and Advanced accounts. In addition, the Integral account offers complete access
to market instruments and a dedicated personal account manager. The leverage
for this Greendax account is up to 1:400, making it ideal for professional
traders.
VIP
The VIP account at Greendax is the most
exclusive account offered by the broker, with a minimum deposit of $250,000.
This account gives access to all the features of the Standard, Intermediate,
Advanced, and Integral accounts. In addition, the VIP account offers full
access to market instruments, desktop/web terminal, mobile trading, analytical
materials, one-click trading, swap-free/Islamic account, daily analysis,
special market coverage, trading strategies allowed, and a VIP personal
manager. The leverage for this Greendax account is up to 1:400, which makes it
ideal for high-volume traders.
How to open your account with a
Greendax broker
Follow the steps below to open your account
with a Greendax broker:
ā
Go to the Greendax website and
click on the "Open an Account" button.
ā
Fill in the online Greendax form
with your details and click on the "Submit" button.
ā
Once your Greendax account has
been approved, you can log in to the platform and start trading.
Greendax customer support
information
Greendax offers quick 24/5 customer support
through phone and email in English. Below are the Greendax support team contact
details:
Phone: +18008316765
Email: info@greendax.com
Research tools available at
Greendax
Greendax offers a good range of research tools
and resources, which is impressive for a new broker. The research tools are
available to traders of all levels of accounts. Some of the critical tools at
Greendax are:
Economic calendar
The economic calendar at Greendax is an
excellent tool for traders to stay up-to-date with the latest economic events.
This tool helps traders to make informed decisions about their trading
strategy. In addition, the economic calendar comes in handy to predict market
trends.
Derivatives expirations
This tool is designed to help traders keep
track of the expiration dates of their derivatives contracts. It is a valuable
tool for managing risk and making informed decisions about when to close out a
position.
Trading hours
The trading hours tool at Greendax is an
excellent way for traders to stay informed about the market hours of the
various asset classes traded on the platform. This tool is helpful for planning
trading strategies and ensuring that trades are executed during optimal times.
Educational material at Greendax
Greendax has emphasized providing excellent
educational content for their traders. They have a comprehensive news
section that is constantly updated with the latest market news. In
addition, they also offer an economic calendar, analysis & reports, and a
trading academy.
You can also access Greendax resources that
teach you about fundamental trading frameworks, risk management, and technical
analysis. The courses are designed for all levels of traders, from beginners to
experts. Overall, the Greendax educational material is impressive and an
excellent resource for both beginner and experienced traders.
Greendax in a nutshell
Greendax is a new online broker with a good
range of tradable assets, a user-friendly platform, and multiple base
currencies. In addition, the sign-up process is simple and easy, making it a
perfect choice for those new to online trading. However, you need to know that
Greendax is yet to receive its regulatory license from authorities, but they're
operating with an offline license.
FAQs:
What is the minimum deposit at
Greendax?
The minimum deposit at Greendax is $2,500 for
the Beginner account.
What is the leverage offered by
Greendax?
The leverage offered by Greendax is 1:400,
which is on the higher side compared to other brokers.
Does Greendax have a demo
account?
No, Greendax does not provide a demo account.
Is Greendax a regulated company?
Greendax is not a regulated company but operates
with an offline license.
What are the deposit methods at
Greendax?
The deposit methods at Greendax include
credit/debit cards, bank wire transfers, and e-wallets like Skrill and
Neteller.
What are the withdrawal methods
available at Greendax?
The withdrawal methods available at Greendax
include credit/debit cards, bank wire transfers, and e-wallets like Skrill.
How do I open an account with
Greendax?
The sign-up process at Greendax is quick and
straightforward. You just need to fill in details like name, email address, and
phone number. Once the Greendax KYC is done, you can start trading within
minutes.
Does Greendax support MT4 &
MT5?
No, Greendax does not support MT4 or MT5.
What are the spreads at Greendax
support?
The spreads at Greendax are variable and
change with market conditions.
What is the minimum trade size at
Greendax?
The minimum trade size at Greendax is 0.01
lots.
How to contact greendax customer
support?
The customer support at Greendax can be
contacted via phone or email.
Does Greendax offer educational
content?
Greendax has a comprehensive news section
regularly updated with the latest market news and insights.
Can US residents open accounts at
Greendax?
No, US residents cannot open accounts at
Greendax.
How can I change my password at
Greendax?
You can change your password at Greendax by
logging into your account and going to the 'Profile' section.
What account types does Greendax
offer?
Greendax offers six accounts ā Beginner,
Standard, Intermediate, Advanced, Integral, and VIP.
