Daweda Exchange Review

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UPDATE (12.06.2020):

Daweda has shut down their operations.

We recommend choosing one of our top binary option brokers instead:

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Old Review:

A fairly new binary options exchange, Daweda Exchange already has a reputation as an enjoyable trading experience. Many traders are finding this type of service appealing as it is an innovative and exciting new method of trading binary options.

Daweda Exchange offers traders full return of their investment, total control of their funds and an exciting opportunity to compete with other traders. Read more about this exciting trading system in our Daweda Exchange review!

Basic information:

Online since: 2020
Jurisdiction: Cyprus
Software: proprietary software
Max Returns: 95%
Bonus: 25-100%
Minimum Deposit: $100
Minimum Investment: $10
Maximum Investment: $20000
Currencies: USD, EUR
Mobile: Yes
Countries: All nations excl. USA, Australia and NZ

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  • Minimum deposit of $100
  • Wide variety of educational resources and materials
  • Free demo account
  • Ability to auto trade
  • Helpful customer service
  • Mobile app for both Android and i-Phone
  • No information on minimum withdrawal amount
  • No live chat

7 Binary Options Rating:

Daweda Exchange Account Features

As Daweda Exchange is a binary options exchange, traders compete with other traders as opposed to brokers. This makes trading binary options both challenging and interesting. And in addition, they offer a great many appealing features to make the trading experience a memorable one for everyone.

The required minimum deposit for Daweda Exchange is only $100, which is extremely reasonable and thus makes this system appealing to both new and experienced traders alike.

One of the best features of this platform is their free demo account. All it requires is basic registration. When utilizing the free demo account, traders use virtual money to initiate trades with no limitations. This is an excellent way for traders to gain the overall feel of the platform as well as to learn the basics of binary options trading. As well, they also offer automated trading.

Since traders are betting against each other rather than the house, Daweda Exchange is a neutral party. There is no fee to join, other than the minimal deposit. However, there is a $0.50 cent fee per trade.

Daweda Exchange Trading Software

During our Daweda Exchange review, we learned that they are a proprietary trading platform and have apps for both Apple and Android operating systems. Mobile apps are especially appealing to those who prefer to trade while on the go as opposed to being tied to computer screen. These apps give traders the ability to trade wherever and whenever they like.

Daweda Exchange trading platform is extremely easy to navigate as it provides an overview of every trade that is being places. Traders are able to select their favorite assets and keep them organized in a separate tab. If they prefer, they can use existing tabs. Traders have the ability to trade high/low options. Expiry times vary depending on the chosen asset and range from 5 minutes to “end of day.”

Screenshot

Daweda Exchange Support Information

The customer support staff at Daweda Exchange is willing to assist their traders with any questions and concerns. To reach customer support, traders can either email or use the online form. We believe a live chat option would be a great feature since binary exchanges are still new and many traders are not familiar with how they operate.

In addition to English, the website is offered in German, French, Russian and Arabic.

Daweda Exchange offers a useful educational section that offers guidelines and books on trading strategies and various aspects of trading. Traders can make use of the free demo account to test their skills.

Daweda Exchange Banking and Company Info

Daweda Exchange is owned and operated by Daweda Exchange Ltd. They are licensed with CySEC under license number 289/16.

The minimum deposit with Daweda Exchange is $100. However there is no detail about the minimum amount required for withdrawal. This information should be listed in the Terms and Conditions tab as well as the FAQ section as this is essential for traders.

Traders can use Maestro, Diners, Skrill, Webmoney and Visa or Mastercard to make a deposit or withdrawal with Daweda Exchange. Withdrawals are processed within 24 hours but time may vary depending on the method of payment utilized by the trader.

Conclusion

We are pleased with our Daweda Exchange review and find them to be a reputable trading platform and not a scam. With their easy to use interface, helpful customer service and free demo account, we find this to be a trustworthy, safe and reliable means of trading.

Additional information

Customer Service: email or online form
Languages: German, French, Russian and Arabic
Trading Options: High/Low, On Demand (60 Sec), One Touch, Range
Assets: Currencies, Stocks, Indices, Commodities
Early close: Yes
Expiry Times: 60 seconds
Deposits and Withdrawals: Maestro, Diners, Skrill, Webmoney and Visa or Mastercard
Withdrawal Time: 24 hours
Demo account: Yes

Daweda Exchange Articles:

7 Binary Options review: Daweda Exchange: 4,5 stars.

Daweda

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Payout: 100% Min Deposit: £100 Bonus: Monthly cashback Regulated:

Yes

Daweda have ceased trading. The firm is no longer accepting new accounts.

Return to the broker comparison table to search for an alternative broker.

Daweda offer binary options trading via a trader to trader exchange. They are based in Cyprus and regulated by CySec. While other brokers are able to offer exchange traded binary options, Daweda are the only firm dedicated to purely binaries. The assets available to trade all boast strong liquidity. Expect that to continue as the platform becomes more widely used, and more markets are added.

A peer to peer exchange means Daweda are not the counter party to any trade. They simply match two traders who take opposite views on the same asset. The firm make a small charge for each contract opened and therefore can afford to offer payouts of 100%, without a spread.

Key info for the Daweda binary exchange;

  • Demo Account – Yes (Demo balance is available immediately on sign up)
  • Minimum Deposit – £100
  • Minimum trade – £7 ($10 currency equivalent)
  • Signals service – No.
  • Bonus details – Monthly cashback for loyal, active traders.
  • Mobile App – Yes. Compatible across all platforms.

Trading Platform

The Daweda platform is very simple. The asset menu runs along the top of the trading area, and the available assets and expiry times are listed underneath. Selecting the required market then updates the price graph. The graph can be toggled between timeframes, and illustrates the current price. Hovering over the ‘Buy’ and ‘Sell’ buttons will also trigger a grey area to appear on the price graph – this illustrates the level at which an option can be brought or sold.

Each contract incurs a $0.50 fee, and the minimum contract is $10 (or currency equivalent). Accounts can be opened in GBP. Multiple contracts can be selected using a drop down in the centre-top of the trading area. Once traders are comfortable with the trade size, they can use the Buy/Sell buttons.

Clicking directly on the buttons will trigger a new option ‘order’ at that level. Using the +/- buttons however, amends the price level – so traders can open an option order at the price level they require. A pop-up will then appear, asking the trader to confirm the order. The order is then live, and needs to be matched by another trader. This is genuine peer-to-peer trading. So orders will not always be matched – but traders can set exactly the price level they want in order to enter a trade. This is one of the key points of an exchange. For an option to be placed, another trader needs to be willing to take the opposite view on an asset.

Open orders, and orders waiting to be matched, appear below the price graph, and on the top right of the trading area, with the current status also displayed.

Trader Choice

Trading variety will certainly grow at Daweda. As a peer to peer exchange, there needs to be a vibrant, liquid market in order for traders to get matched on both sides of a trade. As a fairly new (but growing) brand, Daweda have focussed on the popular markets to ensure there is liquidity. Traders can judge the liquidity for themselves by looking at the open lists.

Popular Forex pairs and commodities are available, as are certain stocks and US indices.

Daweda Mobile App

Daweda offer their exchange on both Android and iOS mobile platforms (both iPhone and iPad). The mobile application gives traders access to the full range of exchange assets, plus it lists working orders on contracts. The screens are clear and easy to use, making the simplicity of the exchange available for traders on the move.

A ‘Favourites’ list of assets can be added too (just as on the full website) to make accessing markets quicker on a mobile device. Account maintenance options are also available. The mobile offering is a great addition to the main site.

Auto Trading Software

Daweda offer an ATS service – Automatic Trading Software. Similar software is sometimes referred to as a trading ‘robot’, or auto-trader. The Daweda setup allows traders to configure their own trading system, and run it automatically, with no need for any further interaction. This a great innovation from the firm, illustrating their desire to match the ‘over the counter’ brokers with their peer to peer exchange.

The ATS can be setup in a series of steps:

  1. Choose the number of contracts you want per trade (this sets the maximum risk per trade)
  2. Set a limit for the number of trades per day (Manage the risk per day)
  3. Configure your trading strategy
  4. Decide if you want a profit limit per day (The ATS stops once this is reached)
  5. Decide if you a loss limit per day (The ATS stops once this is reached)
  6. Select the assets to trade
  7. Activate the ATS, and set it ‘live’

As Daweda is an exchange, the ATS provides a great tool for ensuring trades are triggered for the exact price point you need. This speed is beyond what can be achieved trading manually.

Payout

Payouts at Daweda are listed as 100%. Traders need to be aware however, that there is a $0.50 charge per contract (if hedging, this is charged on both contracts) so a 50% in-the-money rate will still make a small loss over time.

There is however, no spread to “make up” as the price matched, is the price the contract is struck at. Both buyer and seller “match” at the same price.

Withdrawal and Deposit Options

Daweda accept deposits via Credit card, Skrill (Money Bookers), WebMoney and bank wire transfer. The deposit process is fairly simple, but as with most regulated brokers, there will be some verification required.

Withdrawals are a simple process too, with no minimum amount. One withdrawal a month is free – any additional payouts in the same calendar month will incur a $25 charge (or equivalent). Traders will however, need to withdraw to the same method with which they made their last deposit.

Daweda process withdrawals within 24 hours, which puts them among the fastest for organising trader withdrawals.

Other Features

Daweda offer their clients the following features and benefits:

  • Cashback – The longer trader stay at Daweda, and the more they trade, the higher their cashback will be. Traders are automatically enrolled, and the funds are paid automatically into account too. Win-win.
  • Education – As the platform is unique, there is extensive material on how to use it, including the ‘hedge’ feature.
  • Order book – Central to the Daweda Exchange is the Order Book – a unique feature that allows traders to view all the current orders on any chosen asset. Dynamic, and updated in real time, it gives a clear idea of market activity at a single glance. It illustrates the supply and demand of an asset clearly and concisely, and is always available.
  • Hedging – Hedging creates an entry in the Order Book that offsets any position with a counter-trade. Once a contract is matched, the open orders screen will highlight the opportunity to Hedge. When matched by another client, the hedge will balance the original position and protect the trade.
  • Professional Client Program -The Daweda Exchange Professional Client Program allows professional clients to trade using automated tools developed by themselves, or alternatively with the help of bespoke solutions using the wide range of products and services at Daweda that will suit the traders needs.
Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Broker!
    Perfect for beginners!
    Free Demo Account! Free Trading Education!

  • Binomo
    Binomo

    Only for experienced traders!

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