July 15, 2020

PremiumDax Review

Overview:

PremiumDax advertises itself as the most innovation-oriented FX broker in the world. The broker was not known to us until we saw the red-flagged status on the UK’s Financial Conduct Authority website. The broker offers four trading accounts with different maximum leverages on them. There are concerns about this broker, and in this PremiumDax review, we will cover all the necessary information you need to know. Please, follow it completely and read the full PremiumDax review here.

About PremiumDax:

The broker offers a web-based trading platform. The spreads offered there is floating 1.0 – 1.1 pips on most traded EURO-USD FX pair. The broker also offers many tradable assets on CFDs including cryptocurrencies, indexes, commodities, gold, silver, platinum, shares and stocks.

The problem with PremiumDax is that it is an anonymous broker. The official website does not shed light on the owner’s information. Also, the customer support number provided is UK based. However, anyone can use a VOIP system and fake telephone numbers. Such anonymous brokers run by fraudsters. The investment made in such brokers possesses the risk of scam.

Furthermore, as mentioned in the overview, the local Financial Regulatory body of the United Kingdom called the Financial Conduct Authority had issued a potential scam warning against PremiumDax. The website also does not have terms and condition section. We do not know what the withdrawal charges applied to traders by this broker.

The four accounts are Standard, Silver, Gold, and PremiumDax require a minimum deposit of $300, $2500, $10000, and $50000 respectively. These required minimum deposits are high, and many legit brokers provide the same trading conditions in very less price like $5 or so. The leverages provided are 1:100 and 1:150. These leverages are acceptable and according to market.

The clients of this broker will not be able to trade on the MetaTrader platform, and it is a negative point for this broker.

Is PremiumDax scam or legit?

The broker is offshore-based and unlicensed. The original owner of the broker is not known to anyone. The platform offered is provided by third-party and is web-based. The trading condition is decent, but the broker is unregulated. The minimum deposit required is very high. Admittedly, we are not recommending PremiumDax to our readers. The broker is one of the potential Australian scam brokers. Traders will face investment loss if traded with PremiumDax.