Daxiron-Some important Details about This Broker

BASIC INFROMATION

Daxiron is another another offshore broker claiming that investing in global financial markets is simple. They provide basic CFDs like as Forex, Stocks, Indices, and Commodities, all of which are traded on MetaTrader4, a Web-based platform with mobile apps. This, however, is not the case, and the broker is making false statements.

Daxiron REGULATION AND SAFETY OF FUNDS

Daxiron is a brand of Synnfrey Sol Ltd, a company allegedly registered in Dominica. We said “allegedly” as the company is totally anonymous, and it‘s impossible to unearth a single piece of information about it. In fact, Dominica is a shady tax haven that doesn’t license Forex brokers, and the Caribbean island is indeed bustling with scammers precisely due to the regulation deficit. So, your funds wont be safe because Daxiron is an anonymous, unregulated broker that may as well be a scam scheme, and you should avoid it.

Daxiron pretends to offer a maximum leverage of 1:30, but that‘s not true because the default ratio upon registration is 1:100. The broker is lying, and you’d better ask yourself why and what else could be wrong with this broker.

As Daxiron is unreliable, you can consider the high-rated EU brokers and British brokers topping both lists. We recommend those because Europeans grant high-grade security and protection guaranteed by deposit insurance funds created to reimburse clients in case of insolvency. Thus, CySEC brokers traders can claim up to 20 000 EUR in compensation, while the British guarantees are up to 85 000 GBP per person. So if you are eligible to open accounts with European companies, you can safely go for it.

Daxiron TRADING SOFTWARE

Now, we got on to even more fraudulent claims. Daxiron pretends to provide MetaTrader4, but that‘s falsehood, and the platform is not actually available for trading. The trading software is web-based and can’t offer any advantages over MT4. There are too few indicators at hand, the charting tools are unreliable, and the platform is overall displeasing.

That said, the high-rated MetaTrader4 brokers and MetaTrader5 brokers on both lists are safe and deliver one of the best distributions. Both MTs are packed with sophisticated tools such as Expert Advisors, many complex indicators, sophisticated charting tools and a marketplace featuring more than 10 000 apps. Youd be much better off if you choose MetaTrader brokers over the ones delivering flimsy Web traders.

The EUR/USD spread is 3 pips, which used to be a competitive spread somewhere in the early 2000s. Nowadays, most reputable brokers offer tight spreads of 1 pip or less, so the unfavourable Buy/Sell difference is an argument enough to stay away. Daxiron is a costly broker.

As previously stated, the real leverage is locked at 1:100, a dangerous ratio that is no longer deemed suitable for retail consumers. It is a strong financial technique that allows traders to multiply the amount of their holdings, but the hazards are significant. Indeed, leverage is so risky that several recognized authorities prohibit its use to further decrease the dangers of ordinary traders. As a result, customers of EU, British, and Australian brokers are limited to 1:30, while Canadian and US brokers are limited to 1:50. On the other hand, the majority of high-leverage FX firms are unregulated, and we advise traders to avoid them.

Daxiron DEPOSIT/WITHDRAW METHODS AND FEES

The minimum deposit with Daxiron is $250 through credit/debit card, which is slightly more than the regulated industry benchmark of $100 on average. At the same time, some legal brokers provide micro accounts for $5 to $10, and you may locate some of them by clicking on the links provided throughout the study.

If you have a favorite payment method, we can recommend our listings of Skrill brokers, Neteller brokers, FasaPay brokers, Sofort brokers, and Bitcoin brokers. The firms at the top of both lists are well-regulated, and you will not encounter any fraudsters.

There is no information concerning minimum withdrawals or transaction fees, so users should be free towithdraw as little or as much as they desire. However, we have already experienced several, there are contradictions, so we can't accept Daxiron's word for it.

There aren‘t withdrawal fees specified, but Daxiron balances out with the inactivity charges. According to the Terms, an account becomes dormant after 6 months of inactivity and will be charged $40 per month, which is almost $500 per year! That’s a scam! In contrast, the regulated brokers usually take 5 to 10 dollars per month at most. Daxiron is too costly!

Overall, Daxiron is a shady unregulated broker, which is more than enough for you to avoid this suspicious business.