Danxdex has been flagged by Financial Markets Authority for "Unregistered/Unlicensed entity offering financial products or services|Fraud ...". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
The only good thing about Danxdex is that they remind you why regulation matters. I found them after seeing their ad online. They are regulated in a jurisdiction with weak consumer protection. When things went wrong I had nowhere to turn. Stick to well-regulated brokers.
Pros: Transparent fees|Portfolio tracking tools|Segregated accounts
Cons: Cannot customize dashboard fully|Alert system is basic
Danxdex has the worst mobile app I have ever used for investing. It crashes constantly, features that work on desktop are missing entirely, and the security implementation is questionable at best. How they released this app is beyond me.
Pros: Regular platform improvements|Detailed reporting|Transparent fees
Cons: Website design could be more modern
Danxdex advertises low fees but once you dig into the fine print, there are numerous charges that add up quickly. Inactivity fees, withdrawal fees, currency conversion fees - it all eats into your returns. I wish I had read the terms more carefully.
Pros: High security standards|Fast deposits
Cons: Inactivity fee applies after 12 months
Tried to withdraw my funds from Danxdex and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Cons: No regulatory oversight|Money disappeared|Fake testimonials
Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. Danxdex recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.
Pros: Intuitive for beginners|Smooth onboarding|Low minimum deposit
Cons: Email notifications too frequent|Limited social trading features
I have been trying to close my account with Danxdex for weeks now and they keep giving me the runaround. First it was a form to fill out, then identity verification again, then a mandatory phone call that never gets scheduled. They make leaving impossible.
Pros: Intuitive for beginners|Fast execution
Cons: Help articles are sometimes vague|Cannot customize dashboard fully
Several red flags with Danxdex: (1) They promise unrealistically high returns, (2) They're not registered with Financial Markets Authority, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Cons: Not registered with regulators|Unrealistic promises
Their execution during news is terrible. I had limit orders in place. When the news hit, my orders were not filled at the limit price - they were filled much worse. Danxdex said it was market conditions. Same news, another broker filled me properly. They are not honest.
Pros: Wide product range|Intuitive for beginners|Competitive fees
Cons: Limited social trading features|Help articles are sometimes vague
After for a few weeks now with Danxdex I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.
Pros: Helpful community forum|Instant funding|High security standards
Cons: No crypto staking
The spread at Danxdex is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them when my bank disappointed me and I searched for alternatives and initially thought the platform was good - until I started trading seriously.
Pros: Excellent charting|Multiple order types
Cons: No fractional shares