Greendax review outlines an unregulated offshore forex and CFD broker claiming to offer advanced trading conditions but lacking transparency and verified regulation. Greendax has come under scrutiny for its unclear company structure, aggressive marketing tactics, and an absence of licensing from any recognised financial authority.

Regulation and Safety

Greendax is not regulated by any major authority such as the FCA, ASIC, CySEC, or FSCA. It provides no verifiable license number and fails to disclose its legal entity name or registered address. Without regulation, there are no client safeguards such as fund segregation, negative balance protection, or access to compensation schemes. This exposes traders to significant risk of fund misappropriation and legal recourse limitations.

Execution Model and Trading Platforms

Greendax claims to offer STP/NDD execution but does not provide evidence of liquidity providers or trade routing. It offers a proprietary web-based trading platform with standard charting and order tools. No support is available for MetaTrader 4 or MetaTrader 5. There is no FIX API, and no VPS services are advertised, limiting its appeal to advanced or institutional traders.

Markets and Instruments

Greendax markets access to CFDs across a variety of asset classes, including:

• Forex (majors and minors)
• Indices (global indices including S&P 500 and DAX)
• Commodities (precious metals and energy products)
• Stocks (limited coverage, mostly US-based)
• Cryptocurrencies (BTC, ETH, XRP and others)

Despite broad asset class claims, the actual instrument list is unclear, and contract specifications are not publicly available.

Accounts, Spreads and Leverage

Greendax promotes several account tiers ranging from Basic to VIP. Details of trading conditions per account are vague. Typical characteristics include:

• Spreads: Not disclosed transparently
• Leverage: Up to 1:400 advertised for retail clients
• Minimum deposit: $250 (unverified)
• No clear stop-out or margin call levels listed

Islamic or swap-free accounts are not mentioned. The lack of published fee structures is a major concern.

Funding and Base Currencies

Greendax accepts deposits via:

• Credit/debit cards
• Wire transfers
• Cryptocurrencies (BTC, ETH, USDT)

Withdrawal methods and processing times are poorly documented. Multiple client complaints online suggest delayed or denied withdrawals, often without explanation. Accepted base currencies are unspecified, and no regulated payment providers are used.

Client Protections and Features

Greendax does not offer client protections such as fund segregation, compensation schemes, or audit transparency. Two-factor authentication is not enforced, and terms of service allow the broker to alter conditions unilaterally. No biometric login or encryption disclosures are evident. There are no meaningful educational tools or trading analytics provided to users.

Institutional and Retail Offering

Greendax targets retail traders via aggressive advertising and cold outreach. It does not support institutional services like FIX API, white-label solutions, or prime brokerage. There is no evidence of professional-level infrastructure or liquidity aggregation. Affiliate and IB programs may exist but are not detailed publicly.

Pros and Cons

Pros

• CFD trading on forex, stocks, crypto, and indices
• Crypto funding accepted

Cons

• Completely unregulated broker
• Lack of transparency on trading conditions
• No MT4/MT5 or third-party platforms
• Withdrawal issues frequently reported
• No investor protections or fund security

Frequently Asked Questions

Is Greendax regulated?

No, Greendax is not regulated by any financial authority and operates offshore without oversight or licensing.

What trading platform does Greendax offer?

Greendax provides a proprietary web-based trading platform. It does not support MetaTrader 4 or MetaTrader 5.

What is the minimum deposit at Greendax?

The minimum deposit is advertised as $250, but this is not clearly confirmed on the website.

Can I withdraw funds from Greendax?

Many users have reported issues with delayed or denied withdrawals. The lack of regulation makes fund recovery very difficult.

Should I trade with Greendax?

No, due to its unregulated status, poor transparency, and history of user complaints, trading with Greendax carries significant risk.