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DaxBase (found at daxbase.com) is a CFD and Forex broker (and as such it can NOT be legally used by American citizens since CFDs are illegal according to USA laws), offering a web-based platform for manual trading, as well as DaxRobot, a cryptocurrency auto trading robot. They offer a wide range of assets including cryptocurrencies and commodities. Their platform is very professional and include some of the most advanced trading tools.
The brokerage firm offers different type of accounts, wherein as you upgrade to the more expensive ones, you unlock additional features. However even in the basic account you can enjoy most of the benefits of the upgraded ones. In oppose to many other brokers, DaxBase do not support the classic meta trader platform. Instead, they provides advanced solutions within their own trading platform. Keep reading this review to learn more about their set of unique features.
Platform and Leverage
DaxBase offers a fully web based interface which runs smoothly on most of the devices which has an active internet connection. As far as charting is considered, they have TradingView integrated. This is probably the most advanced charting software for analysis. So regardless of what type of technical analysis you prefer, it certainly has the relevant options.
If you usually trade with MetaTrader 4 or 5, then remember that this is a different interface. You might used to certain elements such as EA’s and specific technical indicators. But DaxBase brokerage offers alternatives that once you get familiar with, are even better in some matters. The Trading View solution is more sophisticated and diverse than Meta Trader. And for the ones who are looking for algorithmic and automated trading, there is the DaxRobot in addition to the copy trade feature. This is where you can choose to make the exact same trades as a successful trader of your choice.
And there are some other cool elements, they even house the good old rollover options. Do not use the rollover options if you are a new trader who is just starting now, because more profits potential also means an equal amount of risks.
As for the leverage, for most traders the 1:100 which is offered by DaxBase broker is more than sufficient. If you are into scalping this leverage should be a good fit. But let us warn you, more leverage does not always bring in more profits. It also means that every small price movement has a major effect on your capital. The returns are entirely depended upon your strategy and money management skills.
Based upon your trading goals, you can choose the type of account you want to go with. If you are a beginner who is just starting out then Bronze account will be more than enough for your needs. However if you are a seasoned trader, then it would be beneficial for you to choose the Gold account so that you get a personal manager.
If you ever happen to have any problems then you can skip the line by directly contacting your manager and resolving the issues. Moreover, you will get access to custom material which will sharpen your trading skills.
Here is the list of features available for all type of accounts. Following after are salient features of Silver and Gold accounts.
- 24/7 Live video chat support
- Withdrawals in 1 hour
- Demo account
- Copy Trading Tool
Bronze Account – $250
Salient Feature – Master Class (web session)
Min. Deposit – $1000
Salient Feature – Personal Account Manager
Min. Deposit – $3000
Bonus and Contests
Just like all the brokers DaxBase also offers bonus on first time deposits and in some cases for all of the deposits. For Bronze account the bonus is 20%, for deposits more than $500 the bonus is 50% and for deposits exceeding $3000 the bonus is 100%.
Before accepting any bonus remember that it has terms and conditions associated with them which might cause problems in the future while withdrawing your funds. That, because it requires you to trade certain amount of volume before you are free to cash out your money. Contests happen from time to time, and it’s a nice way to instill a sense of healthy competition among the traders.
There is also the leader-board on their website which features the details of the traders who performed well in terms of percentage and profits. This is just another example of little things they make in order to create a better and more intriguing client’s experience.
Deposits and Withdrawals
The minimum deposit in order to start with the DaxBase platform is $250, and the minimum to request a payout is $50. All the withdrawals should be processed within 1 hour only.
Accepted payment methods are Bitcoin and other major altcoins. You can also use Visa, MasterCard, Maestro, Wire Transfer, Perfect Money, Qiwi, WebMoney and Neteller. There are no transaction fees imposed on withdrawals.
Dax Robot (daxrobot.com) is a an automated trading bot which works with Daxbase. In addition, they provide a cool extra feature that allows you to easily create your own robot. If you are on the fence about this software, then go through our review wherein we have covered what you need need know about this platform.
How does Dax Robot Work?
Dax Robot is an automated trading software. In order to start using it, all one has to do is opening an account, choosing the robot and run it. Then, it executes trades automatically on behalf of the account’s owner. At any given moment the bot can be stopped or activated again. This is important because it gives the user a full control over what’s going on in his account.
On the left side column, there is a list of pre-designed robots along with their profit percentage. They have programmed to keep monitoring the market and analyze the available data. Then they pick trades that match their set of rules.
The trading bot also takes into the consideration money management aspect. This is important, because most of the people who tries to trade manually fail to apply it properly. One thing however you should keep in mind is the fundamental analysis component .
Whenever high impact news are out, the market is more volatile and might behave differently than it would normally do. These fluctuations might increase the volatility significantly. So if you are not familiar with this type of market conditions, it’s better to stay on the safe side and avoid running the program during these times.
There is an extra features that many people were anticipating for. On their platform traders are free to build a robot which runs very specific function. The users do not need any coding knowledge, everything is literally in a click and drop fashion.
You have to select two indicators, input the value parameters and then hit complete. As of writing this review there are 6 indicators, but they are planning to add more down the line. The only concern regarding the bot creation, is that there is no way to control the number of simultaneous trades.
DaxBase Review Conclusion
DaxBase is a good choice if you are interested in a reliable broker who offers a wide range of instruments and trading tools. You can trade manually and enjoy professional environment and full customer support. And if you don’t have the time, or not skillful enough, there are the automated options. Daxrobot allows you to use a bot that trade on your behalf. And there is the copy trading tool where all the positions of a profitable trader are mirrored on your account. One note, is that if you are a beginner you might want to first test your skills with their demo account before jumping into the deep water.