Greendax is not a licensed or regulated broker even though it states offers that look good to be true. Greendax claims it is a company that operates according to the laws of Hong Kong with registration number 26734BC2022. But please be informed that the format of the registration number this broker claimed belongs to the Saint Vincent and the Grenadines Financial Services Authority (SVG FSA) but not any regulatory authorities of Hong Kong.
So we first searched in SVG FSA and found a match result. However, SVG FSA does neither issue licenses for forex trading nor regulate entities offering forex activities. Having registration does not mean having any valid authorization. Then we searched in the Hong Kong regulator Securities And Futures Commission (SFC) and found nothing matched Greendax.
More importantly, the France Autorité des Marchés Financiers (AMF) issued a warning against Greendax for providing financial services without regulation. You can check the full warning from here.
The truth is, Greendax is not overseen by any regulators. That means your personal data or your funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like Greendax and trade with licensed brokers.
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