CDAX Account Type

CDAX offers a versatile forex account that allows users to access real-time foreign exchange rates, manage multiple currencies, and perform international transactions efficiently. The key features of the CDAX account include:

• Multi-Currency Functionality:
• Hold balances in 34 different currencies.
• Pay out in 37 different currencies.
• Named Accounts:
• Get named account details to receive money globally.
• UK customers can have account numbers and sort codes alongside dedicated IBAN numbers for each currency account.
• Real-Time FX Rates:
• Access to real-time rates from the interbank market, unlike banks that provide static day rates.
• Forward and Drawdown Options:
• Lock in rates up to 12 months in advance and draw down funds as needed.
• Security Features:
• Two-factor authentication and regular penetration testing to safeguard accounts.
• Regulatory Compliance:
• Licensed by the Isle of Man Financial Service Authority.

CDAX Broker Account Opening Process

Opening a CDAX account is a straightforward process that can be completed in minutes. Here are the steps involved:

• Visit the CDAX Website:
• Go to CDAX Forex.
• Complete the Application:
• Fill in the required information, including:
• Name
• Address
• Phone number
• Email address
• Identity document number(s) (e.g., passport or driving license)
• Verification Process:
• You may need to provide additional verification information if required, such as identity documents or proof of address.
• Choose Security Questions:
• Select two different security questions for added account protection.
• Fund Your Account:
• Transfer funds from your bank account or use other accepted methods.
• Account Approval:
• Once your application is submitted, you will receive confirmation and can start using your account.

By following these steps, you can efficiently set up your CDAX forex account and take advantage of their competitive offerings in the forex market.