Dax-300 is an offshore Forex and CFDs broker. DAX-300 is operated by ELRICS Brothers Ltd, with the legal and physical addresses in St. Vincent and the Grenadines.

Is Dax-300 a scam or legit broker?

No, it is not safe to trade with Dax-300 . St. Vincent and the Grenadines is notorious for its practically absent requirements and regulations. Due to the setup cost is low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as Capital TradeFX, Traderia and more. You can read our detailed article about the risk of trading with brokers from St. Vincent and the Grenadines.

According to the website, Dax-300 claims to be a leading broker in currency and stock exchange in Europe, South Africa and more. Also, it claims to have offices in over 12 countries including Poland, UK, France and Germany. After conducting research, we couldn’t find any mentions of this broker in any regulator’s register.

Moreover, Dax-300 has been blacklisted by Italy’s regulator CONSOB:

“the National Commission for Companies and the Stock Exchange has ordered Elrics Brothers Ltd and Sanata Partners Eood, through the website www.dax-300.com to cease the infringement of art. 18 of the TUF consisting of the provision of unauthorised investment services and activities to the Italian public”.

Also, Austrian Financial Markets Authority has issued a warning against Dax-300:

“Dax-300 is not entitled to carry out banking transactions in Austria that require a licence. The provider is therefore not permitted to trade on a commercial basis.”

We advise all investors and traders to avoid Dax-300 and other brokers from St. Vincent and the Grenadines. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as AvaTrade and XM.com.

You can share your experience with Dax-300 broker by commenting on this post.

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