DAX1001-Overview of Minimum Deposit, Leverage, Spreads

Note: DAX1001's official website - https://www.dax1001.com/ is currently inaccessible normally.

Registered in Marshall Islands, DAX1001 provides multiple trading assets like cryptocurrencies, CFDs on on gold, silver, natural gas, oil, commodities, 13 indices, stocks, currency pairs on the MT4 trading platform. Besides, it also offers demo accounts and its minimum deposit to open a live account is only $1. However, it is not regulated currently.

Pros and Cons

Is DAX1001 Legit?

No, DAX1001 is not supervised by any regulations. Please be aware of the risk!

What Can I Trade on DAX1001?

DAX1001 provides 45 currency pairs, many of which exotic like USDZAR, USDSGD, USDTRY, USDSEC, USDPLN, USDNOK, USDMXN, USDHUF, USDCNH, USDCZK and USDCLP. And 16 crypto pairs with coins like Zcash, Ripple, Monero, Tron, NEO, Litecoin, IOTA, Ethereum, Ethereum Classic, EOS, Dash and Bitcoin.

Besides, it also offers CFDs on gold, silver, natural gas, oil, commodities, 13 indices and stocks.

Account Type

Dax1001 offers three account types: Basic, Gold and Platinum. It also offers an Islamic (swap-free) account.

And the minimum deposit is only $1 for the Basic account.

Leverage

DAX1001's leverage is up to 1:300. Traders should bear in mind that high leverage not only brings high gains but high losses.

Spread

DAX1001's EUR/USD spread floats around 1.6 pips by testing on the Dax1001s demo MT4.

Trading Platform

Deposit and Withdrawal

DAX1001 supports deposits and withdrawal via credit cards like VISA and MasterCard, bank wire transfers and e-wallets. Besides, it also states that withdrawals will be processed within the first 30 days of an account being opened.

Promotions

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.