The growing popularity of cryptocurrency and the number of people interested in exploring it as a means of income makes it necessary for an increase in the number of exchanges to serve the growing needs in the industry.
Each exchange comes with unique and simpler ways of acquiring, selling, holding, and trading the crypto market. However, you can’t invest in any crypto-related product or trade the crypto market; you must have an account with a trusted crypto exchange broker. If you chose a cryptocurrency exchange that isn’t dependable and lacks the legal permit of operation, you’re bound to lose your money. Also, ensure that you choose a platform with necessary precautions, explicitly written on their terms and conditions page.
Also, it should have excellent levels of global acceptability. Crypto traders choose crypto exchanges based on suitable security and privacy. Other factors traders to consider are customer service, liquidity, ease of use, and transaction fees. All of these factors are important considerations that any right-thinking trader will check before choosing an exchange platform.
Traders and investors understand that an excellent trading strategy without an excellent exchange broker is a recipe for disaster. Hence, the following sub-sections of this Daxiron cryptocurrency exchange review will reveal vital information about this platform, including getting started, deposits and withdrawals.
Daxiron is one of the leading exchanges in the financial market industry based out of the Dominican Republic, making it easy for anyone to invest in the global financial markets. The platform was launched three years ago by Daxiron Group ltd.
|Trading platform||Mobile trader, WebTrader, MetaTrader4|
|Payment method||Ach transfer, bank account, debit/credit card, wire transfer|
What Is Daxiron Exchange?
Daxiron exchange is a financial market exchange based in the republic of Dominica.
Launched in 2018, this exchange company offers trade services for CFD, stocks, commodities, indices, and crypto. Some of the crypto trade services that Daxiron offers include BTC, LTC, DSH, ETH, XRP, BCH, ETC, BTG, XMR, XVG, ADA, IOT, XLM, XEM, QTM, LSK, and BSV.
Daxiron is managed by a team of professionals from the Daxiron group ltd, a financial market firm based out of eastern Caribbean islands. Daxiron allows crypto traders to trade the spot or candlestick market.
Daxiron’s trading system doesn’t require you to download or install anything. Once you’re logged in, you can start trading the markets instantly. Daxiron’s trading system is flexible, powerful, and is complete with the latest technical analysis and techniques.
It is important to emphasize that trading spot markets on this platform are pretty simple. Also, the user interface is so simple that any newbie or experienced trader can get started immediately to start trading.
The “trading platform” page displays the price chart on the main section of the page, while the available “assets to trade,” including cryptocurrencies, are displayed on the left side. The information section on the trading platform page displays all the trade details regarding the cryptocurrency pair you are trading. The platform’s security, loading speed, and financial analysis are top-notch.
Expert traders can opt for the candlesticks trading technique. However, any trader with an interest in more advanced trading tools or several trading tools for deeper market analysis will find this platform useful.
For example, you can superimpose different technical indicators over your trade chart to identify distinct trade signals. You can trade on the go with Daxiron’s mobile app for android (it’s free), access the trading platform from any browser without any additional software, or use the meta-trading four platform.
When you use any of these options, you can enter trades instantly or check your account balance. Daxiron allows you to trade up to 65 distinct cryptocurrencies. Daxiron also offers basic trading education for free. On the Daxiron platform, apart from trading cryptocurrencies, you can also trade contracts for differences (CFDs), stocks, commodities, and indices. As previously mentioned, Daxiron is a crypto exchange based in the Dominican Republic. There are several other exchanges based in that country. We can say that the Dominican Republic is a favorable destination for digital currency trading. Some of the most popular exchanges in this country include eToro, Coinbase, Binance, Kraken, CEX.io, Bittrex, Coinmama, Paxful, Poloniex, Bitstamp, and Huobi. One distinct feature of this exchange is that it allows you to execute trades from any of your favorite devices such as apple or android, tablet, laptop, and desktop.
When you need to execute trades on Daxiron, and you can’t access your laptop, you can easily do so with your nearest available device, most likely, your smartphone. It is worth noting that not all Daxiron reviews have been 5-stars. Some clients report that the company’s markets call them too often about increasing their investment amount. While these customers have reported to the customer care department, some of them still report that the marketing calls remain incessant. This proves that the company needs to call its marketers to order and ensure communication flow between its departments, especially the customer care and the marketers’ departments. You must keep these complaints in mind as you intend to use this platform.
Available Virtual Currencies for Trading
Daxiron exchange allows trading on several cryptocurrencies and not just the most popular ones. Some of the available cryptocurrencies for trading include bitcoin (BTC), Litecoin (LTC), Dashcoin (DSH), Ethereum (ETH), Ripple (XRP), and others. This exchange adopts a flat-fee technique where the seller and buyer pay the same amount of trade fees. It is important to note that you are liable to pay $5 or equivalent every month when your account becomes inactive. The exchange only requires three steps to start trading – sign up, deposit, and start trading. The exchange makes the registration, trade execution, and withdrawal processes seamless.
- You can trade from a multitude of cryptocurrencies
- Equal fee structure for buyers and sellers
- Low transaction fees
- Every request is accompanied by an email, and the company sends you a confirmation email to confirm your withdrawal request.
- A few of the cryptocurrencies don’t require any deposit or withdrawal fees.
- The exchange offers three kinds of trading platforms
- Allows trading on other financial markets – CFDs, stocks, commodities, indices
- Marketers too aggressive with calling customers to increase their deposit fees
- You can’t cancel an instant order once you’ve placed it, even if you close the window or tab.
- If the free margins can’t cover the required margin for a specific order, your pending order will be deleted from the system.
Apart from cryptocurrencies, you can also fund your account at Daxiron with credit or debit cards (such as visa, MasterCard, and maestro), Skrill, and wire transfers. Keep in mind that you can’t make any deposit to trade without opening an account with Daxiron. The exchange allows you to choose any three options when opening your account – standard, premium, or VIP.
However, there are subtle differences between these accounts. For example, the spread for the VIP account starts from 1.4 while that of the standard and premium accounts are floating. Also, the flexible leverage for the standard account can be up to 1:30, while that of the premium and VIP accounts can be raised depending on the amount you are willing to deposit.
Lastly, the minimum lot size for the standard account is 0.1, while the minimum lot size for the premium and VIP accounts are 0.01.
Security and Privacy
Since the Daxiron exchange doesn’t just offer cryptocurrency trades, accounts need to verify their accounts. But the verification is fast and easy. You can register immediately by filling in your relevant details (full name, phone number, email, password, and promo code (if any)).
Daxiron keeps its customers’ cash in cold storage for safety reasons. The exchange allows you to protect yourself against fraudulent withdrawals by setting up two-factor authentication for your withdrawals.
The exchange stores your personal information offline to avoid possible breaches and their negative ramifications. All data are secured with AES-256 encryption. Then, they are further protected by being transferred to the FIPS-40 hardware and a paper backup.
Daxiron exchange welcomes investors from any part of the world, including the USA. However, the exchange doesn’t treat any investor better than others, as far as I know. However, you still need to perform your due diligence before investing your funds, as you should always do when investing in any platform.
Daxiron Trading Technique
Each exchange has its idea of the proper trade technique and trade execution order. Hence, you need to decide whether an exchange’s trade technique is suitable for your personal trade technique. Whether you decide to choose Daxiron exchange or any other exchange, ensure you check out their trading technique to see if it’s a perfect fit for your trading style.
Check out the bought and sell columns. Then, select any cryptocurrency pair and check out the price chart, order history, and order book for it. If all these appeals to you with Daxiron exchange, you can get started on the platform immediately.
Transaction fees are one essential factor you need to consider before choosing an exchange. No trader wants to pay high fees for transactions. Hence, an exchange’s transaction fees must be low to attract and retain more customers.
Regardless of the orders you place, Daxiron charges you a flat fee. When you place an instant order, and it is executed, you are tagged a taker. But when you place an order, and it is recorded in an order book before it is matched, you would be tagged a maker.
Whether you are a maker or taker, you pay the same amount as fees. Daxiron charges a flat fee of 0.14 percent, which aligns with the current industry average of about 0.22 percent. However, all executed trades on the Daxiron platform attract a fixed charge of 0.15 percent.
You won’t be charged for deposits on Daxiron, but there are withdrawal fees on some specified cryptocurrencies.
Daxiron uses a fixed percentage (0.15 percent) to determine withdrawal costs on Daxiron. Just as it applies to transaction fees, the fees you pay for withdrawals are determined via a percentage. The amount you are to withdraw will determine the fees you will pay for it.
Most crypto exchanges globally, regardless of their location, require you to pay withdrawal fees based on a specified percentage. That’s also applicable to 20 of the 610+ exchanges that we have previously review (including the ones that no longer exist).
The ones that don’t charge based on percentage have a standard cost of withdrawal. (the most common is 0.0005 BTC for every bitcoin withdrawal). Hence, Daxiron’s withdrawal fee charges make it among the best in the industry.
It is often beneficial for you to withdraw small amounts as you would have to pay nominal fees. For instance, you only pay 0.00002 BTC when you withdraw 0.01 BTC (which is low compared to what other exchanges charge). However, when you seek to withdraw large amounts (e.g., 20 BTC), you will pay more withdrawal fees (e.g., 0.4 BTC) which seems a bit high. Hence, you need to consider whether you are comfortable with this withdrawal fee structure.
Keep in mind that each cryptocurrency has a fast-rising rate, daily, and withdrawal restriction amount, which is subject to change based on the prerogative of the exchange. Still, it hasn’t been reviewed upward recently.
For bitcoin, the withdrawal restriction amount is 200 dollars per day. The daily restriction amount is 50 dollars per day, while the fast-rising rate is 0.0005. However, withdrawal charges for all crypto trades remain fixed at 0.15 percent.
- Customized solution for each customer based on needs regardless of location
- Accessibility to various top financial markets to build your portfolio and make profits while doing so
- Simple user interface that suits beginners and professional traders alike
- Expert analysis and trading tools
- Fully secure and compliant with all regulations
- Immediate access to trading markets via your browser without necessarily downloading or installing anything
- Comfortable trading experience since you can trade from any of your devices
Once you click on the “trading platform” menu, you will be taken to the trading platform page instantly. There, you can choose any asset you want to trade (whether it is forex, cryptocurrencies, commodities, stocks, or indices).
You can also ‘favorite’ any of these assets. You can personalize the trade charts using any of the tools available (screenshot, full-screen mode, zoom, and shapes). You can also personalize your trade charts based on timeframes. The available ones are 5-minute, 30-minute, hourly, 4-hour, daily, weekly and monthly timeframes.
Daxiron makes various indicators available for you to perform your technical analysis. They include candlesticks, Heiken Ashi, HLC, lines, area, and dots. However, you’ll need to check out the TradingView website to obtain details regarding trading volume, which is often important before you execute your trades.
The first customer support that Daxiron provides is the frequently asked questions (FAQ) section, where you can access answers to common issues. It also has an education sub-section called the trading school, where you get to have a basic understanding of trading the financial market. Also, Daxiron allows phone support in case of emergencies. For example, if you suspect that your account has been compromised, there is a feature that allows you to lock your accounts instantly. Also, as part of its security measures to protect user accounts, the exchange has put out a warning that it would never require any customer to reveal their verification codes, passwords, or both.
When you need further help, you can get in touch with a customer care rep via email, phone and filling the contact us form. Daxiron has several employees on its payroll as customer care reps. Hence, you can always be assured of receiving excellent and quick responses whenever you need them.
- Email Support
When you want to submit requests via email, use the email address on the contact us page. Then, ensure that you give a detailed description of your request. Otherwise, you won’t receive an appropriate and relevant answer to your request.
- Phone Support
One major reason why you would want to contact support is to deactivate your account instantly when you notice any compromise on it. Then, you can reactivate your account using the automated account recovery process.
Keep in mind that it might take up to seven days before the reactivation is complete and for you to re-assess your account. Like the support email address, the support phone number is also available on the contact us page.
This Daxiron exchange review contains the most relevant features of the platform. The platform has a simple interface that you can navigate with ease and obtain any information you require. Undoubtedly, this exchange is one of the leading crypto exchanges.
The exchange protects your funds and other user funds using various modern security measures and insurance policies. Also, it deploys various breach-proof measures to protect your personal data. Daxiron support is top-notch as all queries are answered in quick time. Also, traders can access various crypto assets on this exchange.
Ultimately, you can’t trade the financial market, including the crypto market, without having an account with at least one exchange. Hence, consider opening an account with Daxiron exchange today to enjoy their services as already discussed.