MetaDaxGlobal Review – Uncovering the Truth about this Broker

MetaDaxGlobal Review

Trading in the financial markets is an undoubtedly attractive opportunity and one that many people are interested in engaging. But, before they can get started, they first have to overcome the challenge of finding a good and professional brokerage. This is where people often struggle, not because there are not enough companies available, but because the number of options can be quite overwhelming. In fact, many people end up abandoning the process halfway because they become confused and unsure of how to proceed. This MetaDaxGlobal review can help you in making a decision.

The reason for the confusion is mostly because almost every brokerage you check out will promise you the best and most professional trading experience. Their features and services also seem to be quite similar and every company you check out will leave you confused because you would want to open an account with them. Of course, this is not practical, but you also have to be cautious as there are lots of scams in the market as well. This is what often leaves people undecided because when they are unable to make up your mind, they do not want to take the risk because the brokerage could turn out to be fraudulent.

It is not a myth because you will find hundreds of stories of people who have suffered at the hands of these fraudulent and fake companies. You do not want to be one of them and many people choose to not take the risk and leave, but why miss out on opportunities that can help you make high returns? Instead of letting chances slip through your fingers, it is better for you to do some research before choosing a brokerage. This means that you do not take a company’s word for whatever they are telling you and always follow up and verify everything.

Taking the same route in the case of MetaDaxGlobal can turn out to be a great move because you will uncover the truth about this brokerage. It is presented as a properly licensed forex and CFD brokerage and investment company that has its headquarters located in Luxembourg. MetaDaxGlobal further claims to have more than three million users and offers an intuitive platform, all of which sounds downright fantastic. But, doing some research shows just how much it is hiding and how much it is misleading. Want to find out? Let’s take a look:

No license or regulation

Checking the licensing and regulation claims of an online brokerage should be your first step because you want to know if the company can be trusted or not. A platform that has a license to provide its services can offer you protections that you cannot expect from unlicensed ones and the quality of services is also drastically different. The fact that MetaDaxGlobal claims to be licensed is something that draws the attention and you would want to opt for a platform like that.

As per their website, the headquarters of MetaDaxGlobal are located in Luxembourg and it is also an MIFID II investment company. This means that it is regulated in accordance with the Markets in Financial Instruments Directive applicable in the European Union. While this sounds very reassuring, as mentioned earlier, you cannot take anything at the broker’s word.

You have to verify the claim and once you check the online register of the regulatory authority in Luxembourg i.e. the Commission de Surveillance du Secteur Financier (CSSF), you will not find MetaDaxGlobal listed anywhere. This means that not only the company is lying about its EU approved license, but also about where it is based. You cannot trust such a brokerage with your money or data.

Offering trading bonuses

Another issue that you are going to discover about MetaDaxGlobal is the fact that they are offering you trading bonuses. When you look at the options, you will find that the brokerage is being very generous, as the bonuses are between 20% and 50%, depending on which account you decide to open. While this kind of offer is very exciting, you should be wary because trading bonuses have been banned in a number of jurisdictions around the world and the EU is one of them.

This means that MetaDaxGlobal should not be offering you any trading bonuses because this practice is no longer allowed. It was banned because these bonuses had strings attached with them, which were not considered favorable for traders. These usually include minimum trading volume requirements and until you fulfill them, you are not allowed to make a withdrawal. No genuine brokerage would ever prevent its clients from being able to withdraw their own money.

Lack of a good trading platform

The problems get worse when you continue looking into the claims that MetaDaxGlobal has made. One of its features that draws your attention is the promise of a powerful trading platform. Yes, this makes a big difference because the right platform can provide you with lots of advanced tools and features that can make trading quite profitable.

It would not be wrong for people to expect MetaDaxGlobal to offer a platform like the MT4 or the MT5, both of which are well-known in the market as some of the top and award-winning trading platforms. These are equipped with cutting-edge technology and advanced tools like Expert Advisors. However, even though you are promised an intuitive and powerful platform, you cannot access it. This obviously sends up a red flag because you should be able to check the platform beforehand.

No mention of conditions and payment methods

You will also come to know that MetaDaxGlobal does not disclose other essential information on its website, such as the trading conditions they offer. Likewise, they have not mentioned the payment methods that are supported on the platform. These are big concerns because the trading conditions can impact your bottom line and the payment methods determine whether you can file for a chargeback or not.

Bottom Line

These problems show that MetaDaxGlobal is not the kind of broker you want to sign up with for your trading journey.