Greendax Review and Information 2023

Greendax is a new online broker focusing on delivering a quality trading environment with innovative services to traders worldwide. Introduced in 2022, the platform may not ring any bells, but it is equipped to serve new and expert traders, providing access to tools and facilities to help them meet their needs and goals.

Greendax’s market analysis may provide an excellent foundational framework, methodology, and approach for first-time traders. Such materials could help them develop an understanding of being a trader in the global markets.

Having quite the portfolio of assets, this broker supports trading in six markets, including the digital currency market, a place that several online brokers chose not to explore. At Greendax, traders can buy and sell cryptocurrencies such as Bitcoin, Ripple, and Cardano without creating a wallet or exchange account. 

Regarding the safety of funds, Greendax uses a high level of encryption for all transactions. The platform also strives to ensure that the transactions align with the industry’s data protection standards to protect clients’ sensitive information.

Trading Products 

Greendax allows traders to directly access more than 1,200 assets and five of the world’s active markets with 24/5 multi-lingual customer support.

Markets available on the platform:

• Currency (Majors, Minors, Exotics)
• Commodity
• Spot Metal
• Index
• Digital
• Stock

This broker offers the usual candidates, although it goes further by providing precious metals and cryptocurrency trading, letting investors bet on digital currencies such as Bitcoin, Ripple, and Cardano. Additionally, market players can trade currencies with leverage up to 1:400.   

Account Types

Traders can find a suitable account type with Greendax, regardless of their experience levels. The broker offers six different trading accounts for users to open. Here’s a rundown of the accounts provided by the platform.

Beginner

New investors can get to know Greendax and the trading space with the Beginner account. Traders can set up this starter account by funding a minimum of 2,500 USD and gain access to the following features:

• Basic access to market instruments
• Desktop/Web Terminal
• Mobile Trading
• Analytical Materials
• One-Click Trading

Standard

The Standard account extends the features of the Beginner account mentioned above with Daily Analysis and support for a Swap Free/Islamic account. That makes this account ideal for traders looking to participate in the markets in accordance with the Sharia Law. To open this account, investors need to meet the minimum deposit requirement of 5,000 USD.

Intermediate

The Intermediate account is perhaps the best basic account for new and more advanced traders. This account combines the features of the Basic account with the Standard account, adding Market Coverage to its list of benefits. Note that traders interested in opening an Intermediate account need to make sure that they can meet the minimum funding requirement of 25,000 USD.

Advanced

Greendax’s Advanced account may appeal to experienced traders, considering the various features it provides:

• Full access to market instruments
• Desktop/Web Terminal
• Mobile Trading
• Analytical Materials
• One-Click Trading
• Swap Free/Islamic
• Daily Analysis
• Market Coverage
• Special Market Coverage
• Personal Account Manager
• Trading Strategies Allowed

A vital factor to consider with creating an Advanced account is that traders must fund their accounts with a minimum of 50,000 USD.

Integral

The Integral account can be an option for traders if they want access to the aforementioned features offered by the Advanced account plus a Private Instant Support, which provides them with more tailored assistance. Still, this account requires a minimum deposit of 100,00 USD. Therefore traders need to think carefully about whether they truly need the Private Instant Support or they can work with an Advanced account.  

VIP

Similar to other VIP trading accounts, Greendax’s VIP account is designed for experienced, high net worth traders. This account offers superior service with a personal manager to handle traders’ demands.

Moreover, the VIP account leans on the pricey side in terms of the funding required to set it up. To be eligible for this account, traders must have the financial capability to deposit 250,000 USD or more.   

Trading Platforms

Greendax offers a trading platform that features sophisticated analysis tools with customizable, interactive charts where traders can access real-time data of their preferred securities. The terminal is available through desktop software installation, the web, or mobile app download.

Trading platform’s features:

• Superior Charting Tools
• 0.20 Seconds Execution
• Manually Execute Trades
• Access to 1,200+ Assets
• Progressive Watchlist
• Desktop, Web, and Mobile Trading

Greendax’s desktop trading platform presents a user-friendly interface with programming features that are not too difficult to understand. This platform is customizable and offers a broad range of indicators and charting tools. On the other hand, traders can open and close their trades with Greendax’s web-based interface minus the need to download or install software. The web trader works properly on web browsers, like Chrome, Microsoft Edge, or Opera on any operating system.

Greendax also caters to traders who are on the go by providing a mobile trading app. The mobile trader is available to download on Android and iOS devices and allows users to sync their trades on their phones or tablets.

Additionally, the app is equipped with real-time charting tools and all features necessary to let traders manage their accounts through their smartphones or tablet devices.

Deposits and Withdrawals 

Traders can fund or cash out from their Greendax accounts via Visa or MasterCard, Skrill, or Neteller. The broker also supports bank wire transfers, although the deposit or withdrawal may take a few days to process. In addition, Greendax charges no commission or extra fees on deposits or withdrawals made on its platform. However, traders need to keep in mind that if a withdrawal transfer has been canceled or returned by the bank, Greendax can charge them the equivalent amount of any banking fees incurred.  

Greendax Summary: Is it worth it?

Greendax’s range of accounts and features can appeal to new and experienced traders. Plus, its support for trading cryptocurrencies such as Bitcoin and Ripple provides another reason for investors to consider this broker. While it’s not yet an entirely solid choice for investors, beginner and professional traders may still appreciate its platform and products and services. Moreover, Greendax allows users to invest in nearly as many securities as any other broker out there.