DAX1001-Overview of Minimum Deposit, Leverage, Spreads

Note: Since DAX1001s official site (https://www.dax1001.com/) is not accessible while writing this introduction, only a cursory understanding can be obtained from the Internet.

General Information & Regulation

Dax1001, a trading name of One Thousand One Ltd, is allegedly an unregulated, blacklisted and offshore forex and CFD broker registered in the Marshall Islands that claims to provide its clients with a wide variety of tradable assets with leverage up to 1:300 on the state-of-the-art MetaTrader4 trading platform, as well as a choice of three different account types.

Market Instruments

DAX1001 advertises that it offers a wide range of trading instruments in financial markets, including more than 40 forex pairs, as well as CFDs on precious metals, energies, commodities, indices, stocks and cryptocurrencies of Zcash, Ripple, Litecoin, Ethereum, Bitcoin and others.

Account Types

There are three live trading accounts offered by DAX1001, namely Basic, Gold and Platinum, as well as an Islamic (swap-free) account. Opening a Basic account requires the minimum initial deposit amount of only $1.

Leverage

A leverage ratio of up to 1:300 is offered by DAX1001, which is much higher than that provided by most brokers. Inexperienced traders are advised not to use too much leverage since leverage magnifies gains and losses.

Spreads

As tested on Dax1001s demo MT4 account, we found the spread for EUR/USD pair was floating around 1.6 pips.

Trading Platform Available

The platform available for trading at Dax1001 is one of the worlds most trusted and popular MetaTrader4 trading platforms. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.

Deposit & Withdrawal

As far as the payment methods are concerned, Dax1001 accepts deposits and withdrawals via credit cards like VISA and MasterCard, bank wire transfers and e-wallets (not specified). There is no minimum initial deposit requirement.

Bonuses

Dax1001 claims to offer some bonuses. For example, if you have accepted a $200 bonus, you will have to trade at least 50 standard lots, or 5 million USD dollars if you want to withdraw. Furthermore, Dax1001 reserves the right to change the bonus conditions at any time.

Customer Support

DAX1001s customer support can be reached by telephone: +4313469999042, email: support@dax1001.com. Company address: Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960.