Greendax Review: Rotten Intentions and Hidden Agenda Exposed

In this Greendax review, we will be investigating a brokerage platform that already displays all of the common scam signs. First off, the firm isn’t regulated in the area it claims to operate from. Secondly, they engage with review-selling networks to increase their ratings. 

Finally, there are plenty of regulatory warnings to clear any doubt you might have had about this dubious firm. Let’s get started.

 Fully Anonymous Conduct

Besides a false Hong Kong address posted on its site, the Greendax trading firm reveals no other details about its incorporation. Popular Forex dealers are transparent about their company information, their contacts, and ownership details. That apparently doesn’t apply to this questionable entity. 

Lack of transparency is never a good sign. Often, you’ll find these illicit businesses claiming to be registered but without providing any valid proof of such claims. FinOpta is another one of those firms that you should stay away from.

Warnings and Alerts

Due to their statements about Hong Kong registration, we checked the SFC database of regulated Forex providers and found no company under the name of Greendax Limited. When we started searching through other registers of licensed entities, we found something far more concerning. 

You see, this shady portal was blacklisted by more than a few financial authorities, mainly in the EU. These include CNMV, IOSCO, ATVP, AFM, AMF, FSMA and FI.The other domain (greendax.com) was also blacklisted by AMF (Quebec) and CSA.

Online financial services providers without a certificate aren’t able to provide safety of funds, compensation options, and negative balance protection.

False Reviews Exposed

The only place online where we found any Greendax reviews was Trustpilot. As soon as you open this page, you will notice site warnings about a number of fake reviews being removed. Due to this breach of guidelines, Trustpilot has prevented the option for any more ratings or reviews to be posted for this firm. 

That means that swindlers attempted to bring their reputation up by flooding the site with false comments and service evaluations. Con artists usually do this in order to leave a positive impression on their potential victims.

Victims – EU Investors

Entering fr.greendax.org into the ICANN lookup returns no results, but the first traces of the domain being active date to 2023. Greendax.com is older, having been created in 2019.

These areas generate the most traffic to the site:

• United Kingdom
• Belgium
• Canada
• Italy

These sorts of fraudulent platforms do not last long after they’ve been blacklisted. This is why we recommend starting the recovery procedure as soon as possible.

Contacting Support is Mandatory

Before we could investigate what this trading platform has to offer, we were redirected from the registration form to a blank page. The page urges potential clients to contact the support team in order to complete the process and become full-fledged clients.

If you manage to get past that step, you’ll be able to choose between one of these live trading account types, although we definitely do not recommend any:

• Beginner – 2,500 $
• Standard – 5,000 $
• Intermediate – 25,000 $
• Advanced – 50,000 $
• Integral – 100,000 $
• VIP – 250,000 $

All of these allegedly offer one-click trading options, support from account managers and other commonly advertised deceptions.

Bogus Trading Technology

The dependable, robust Greendax app should be able to meet the needs of any type of trader. That is at least what the website states. 

To no one’s surprise, we couldn’t locate the trading area or the platform at all. Our attempts to run the WebTrader were obstructed as we were asked to log in first. As aforementioned, we weren’t able to do so. This turn of events leaves us with nothing substantial to work with. It may as well be that this trading software doesn’t even exist.

Unsettling Amount of Fees

While it’s expected of a service provider to charge for their amenities, this fraudster takes the concept to an entirely new level. Legal documents mention several types of fees. These include the administrative fee, the maintenance charges, and a separate inactivity tax of 1,000$ after 90 days of account idleness.

A special group of costs makes the payout and other transaction costs that are not even defined, only briefly mentioned in the legal docs. Furthermore, all trading terms are hidden and not even remotely outlined. 

Unknown Transfer Methods

Deposits are a mandatory condition for the client to be able even to start trading. These can be made via credit cards, as the legal papers suggest.

However, absolutely nothing is said about the Greendax withdrawal. Besides mysterious taxes pertaining to transactions, we didn’t manage to dig up anything else related to this crucial aspect of trading. As if payouts were the least important thing in the whole wide world, these crooks don’t even make a mention of it. It is clear that these blacklisted cyber criminals don’t intend to allow a single withdrawal to happen.

Fake Help Phone Line

We did not expect the help desk to work, so we weren’t surprised in the slightest when nobody answered our inquiry. Methods that the clients can use to contact the company are phone number, email and contact form.

The phone number provided on the site seems to be from Hong Kong. It’s important to note, however, that these professional con artists are likely using a spoofer that lets them use any available number at will. As expected, nobody answered our email messages.

Scammers Took Your Cash? Call Our Experts!

Is Greendax legit? No, it is a forex trading scheme that has been going on for several years now. Lately, however, it has become the subject of numerous regulatory warnings.

Online charlatans think that they are protected by anonymity, but they are very wrong. With the help of our specialist investigators, we can track down the transactions and recover the lost money. You may contact us by means of the live chat we’ve provided on our site. 

FAQ