October 13, 2020

Dax-300 Review

Overview

Dax-300 is an ELRICS Brothers ltd. owned Forex and CFD brokerage firm located in St. Vincent and the Grenadines. They have been involved in trading over 100 trading assets. It offers CFD trading on FOREX, currency, Gold, Silver, shares, cryptocurrency. Its leverage margin starts at 100:1 and offers pips up to 3 which is more than the usual. The minimum deposits start from €250 which is a standard price, €5,000 gold, and goes to €20,000 in platinum price. Every level has certain kinds of services that the investors are promised to be delivered. However, it occurs it is not authorized and conducts the services without the permission of legal bodies. Read the full Dax-300 review here.

Dax-300 Review

The kind of financial services that Dax-300 provides should be registered by FCA in the United Kingdom or by AISC in Australia. It must have an approved license by these bodies or subsidiary bodies for them to carry forward their services. Which here in the case of DAX -300 is omitted. They are not licensed by any of the authorities. Without being licensed they operate through websites and mobile application platforms, this is misleading and defying the users especially those who are new in the game. 

They operate in three different languages which are German, English, and Italian. Now it’s being called an unauthorized offshore broker. Many Dax users have given negative reviews about it as they have lost a huge amount after investing. They claim to have a physical presence in over 12 countries including Poland, UK, France, and Germany, claims to be a leading brokerage of currency and stock exchange in Europe, South Africa, and maybe more. 

After claiming fancy promises to the clients without being licensed and authorized is mischievous and should not be trusted. It’s strongly recommended to the readers to beware while investing with Dax300. As it is a notorious site and you might get conned. It is also said it does not regulate forex trading which requires approvals from foreign governments for the sake of their identification. 

Is Dax-300 A scam or legit?

Yes! Dax-300 is a potential scam. It is blacklisted by Italy regulator CONSOB. The national commission for companies and the stock exchange has ordered ELRICS Brothers Ltd and Sanata Partners Eood, to cease the infringement of the act. Austrian Financial Markets Authority also issued a warning against Dax-300.  According to them, Dax-300 is not entitled to carry out banking transactions in Austria that require a license. The provider is not permitted to trade on a commercial basis. 

Therefore, Dax-300 is not a safe site to invest in any financial related service.