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Daweda Exchange has made quite an entrance when they introduced the first platform ever that offers exchange experience when it comes to contracts trading. According to their website, Daweda enables traders to have the control and benefits of a real trading process, but without brokers which eliminates potential conflict of interest.
What exactly does that mean, you ask? Daweda platform allows traders to trade directly with other fellow traders without the necessity for a broker to mediate the process. There is never a conflict of interest in this context, as Daweda doesn’t receive any profit from the trades, regardless of their outcome. This platform charges a nominal service fee of $0.50 to both of the trader parties, with no additional or hidden fees or commissions.
Registering at Daweda Exchange seems to be fairly streamlined. It only takes a few short moments to fill out the registration form and after you submit it, you are ready to start.
This company also offers an important element to their offer and that is the Demo account. You are eligible for a demo account automatically after you register on the website. Your new Demo account will be credited with $500 of virtual money and you can use it to get a feel for trading on such a specific platform but without the risk of losing your real money.
The Demo account is the same as the Real, live account except for the fact that in demo mode you are trading exclusively with other demo traders.
When opening an account, you will be asked for certain personal documents you will need to provide in order to trade. This is because Daweda Exchange upholds strict policies on money-laundering and other important regulations, which also means that they are very committed to protecting their clients personal data and documents.
When it comes to funding your real account, you just need to follow instructions. All you have to do is click the Deposit button and you will be directed to choosing your preferred payment method. After your deposit has been submitted, you will get a confirmation on your provided email address.
This company boasts with a unique platform that allows traders to buy/sell contracts directly with other traders. Since there are no brokers that act as middlemen, there are no fees or hidden charges, so you are able to get a 100% return on your winning trades.
This platform gives you the ability set the number of contracts you wish to trade and your own price levels, which keeps you in control of your own trading strategies. You can also easily see available offers from other traders on the platform or you can even create your own.
This platform is a unique, proprietary trading platform. It has a classic desktop version but is also available for both Android and iOS devices. This is to ensure that all traders can access their accounts at any time, regardless of where they might be.
During this Daweda Exchange review we found out that there is also a really streamlined and educational Platform Guide available on the website. It depicts all the simple steps you take to start trading on Daweda’s platform and are accompanied by screenshots. Steps are very easy to follow:
1. Choose your asset – Forex, Commodities, Indices or Stocks
2. Select the number of contracts you want to trade
3. Decide on UP (Call) or DOWN (Put) prediction
4. Choose your asset price level
5. Confirm your order after you are content with the parameters
6. After you placed trades, you have an overview of Open & Pending Positions
7. Wait for the final result
Daweda Exchange platform also offers the traders to pick their favorite trading assets and to allocate them to a common tab of Favourites for traders convenience. Considering all the features and possibilities that this platform offers, there is certainly a great effort by Daweda to provide traders with an enjoyable trading experience.
Daweda Automated Trading System
There is another perk that Daweda offers to their clients, and that is the Automated Trading System. This system is based on an auto trading software that helps you manage and place your trades even when you are not next to your computer or do not have access to the internet.
All that is required of you is to customize your trading preferences and the great thing is, you only have to do it once. After that, the system will automatically create and place orders on the platform.
To be able to use the Automated Trading System, traders are required to register for a trading account and deposit their account with a minimum of $350. After their deposit has been processed, traders are welcome to start using the automated system, with no monthly fees or any other special requirements.
As one would learn to expect from a binary broker, Daweda has set up various ways to contact their customer support for any information needed. If traders ever have any questions, run into unexpected issues or simply need explanations regarding the trading process Daweda’s customer support is where traders should turn to.
You can reach them via multiple channels, including website’s contact form, email, phone or live chat. Daweda’s support team has proven to be very knowledgeable and eager to help you with any issues you might be experiencing. During this review, we were especially impressed by the speed and efficiency this customer support seems to offer, with information that is up to date, functional and practical.
It might seem like there is no need to get overly detailed with a review of a customer support system. However, we have found that there is still a large number of people who are not extremely familiar with binary options and even more of those who aren’t knowledgeable about an exchange trading system like Daweda’s. For that reason, we feel it is important to highlight that Daweda is able to provide information to any type of trader that turns to them for support.
A great communication service does wonders to promote a strong and trusting relationship between a company and its clients. With that in mind, Daweda Exchange offers their website in several languages; English, Russian, German, French, and Arabic.
As we have mentioned already, Daweda Exchange is a broker regulated by CySEC (Cyprus Securities and Exchange Commission) under the licence number 289/16. Regulating bodies require a strict code of conduct and upholding of the obligatory policies that govern the procedures regarding clients and their rights.
We found out during this broker review that a minimum deposit amount for Daweda Exchange is a $/€/£ 100.
As far as payment and withdrawal options go, there are various services available for Daweda traders. Binary options traders can manage their transactions via Diners, Maestro, Visa or Mastercard if they wish to use credit cards. Other options include E-wallet services such as Skrill, Moneybookers or WebMoney.
Processing time for withdrawals, according to the official website is within 24 hours, however that time frame can vary depending on the specific bank procedures that might apply in any individual case.