Daweda Exchange Review: The flourishing binary options trading market has been evolving ever since its inception. There are always some new ideas and inventions which hit the market and as a responsible service provider we review them and provide honest recommendations.
Today, we are going to review one such innovative binary autotrading platform which has recently hit the market and has been making its way in the binary broking and trading. The Daweda Exchange which was launched in 2016 claims to provide 100 percent return, complete trading control, and an exciting new way of trading to their customers. The following text describes the various aspects of the brokerage house for your consumption.
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The Daweda Exchange is owned and operated by the Daweda Exchange Limited. The company is registered in Cyprus under the laws of the Republic of Cyprus with a registration number HE 343289 and having its registered address as 1, Corner of Grivas Digeni, Engomi Business Centre, Nicosia, Cyprus.
The company is also authorized and regulated as a Cypriot Investment Firm by the Cyprus Securities and Exchange Commission.
The Daweda Exchange uses indigenous software to power the platform. The platform is customer centric and it is reflected in its easy to use interface, conveniently placed tabs, professional look, and another host of features. The state of the art platform provides the perfect trading environment and is capable of processing more than 150K orders per second. The low latency of the platform allows it to perform the order execution at a lightning fast speed.
The website is aesthetically designed to provide convenience and professional feel. The website navigation is easily comprehensible even by a naïve trader. The website of the platform indicates that it is the world’s first to offer exchange like experience to the traders dealing in contracts. It is different from the regular binary broker as it gives the complete control to the traders by eliminating the broker and ultimately avoiding any potential conflicts. The platform provides complete peace of mind by giving a transparent, fair, and conducive trading environment to the traders.
Generally, the binary brokers allow the traders to trade against them, meaning that the transactions are executed between the trader and the broker. The Daweda Exchange platform works differently compared to the other binary brokers. The Daweda platform allows traders to trade directly with the another trader. Meaning, it acts as an exchange to allow two individual parties to execute the transaction. The platform does not profit from any transaction and it also does not interfere with the pricing of the contract. This way it eliminates the conflict of interest between the broker and the trader. The Daweda Exchange only charges fees of $ 0.50 per transaction to both the involved parties and there are no additional charges or fees levied on the transaction. The platform eliminates the middleman commission or charge and this way it allows to make 100 percent return on the trader’s investment.
The platform allows you to set preferred pricing and the number of contracts you want to trade so that you have a full control over all the transactions. It also allows you to view the open position (available offers from the other traders) to create your own offer. The company allows you to view all other positions on the platform, including call and put orders currently available which allows the traders to make more informed decisions. The website also does not interfere in the transaction and what is in the order book stays between the traders. This fair practice by the company ensures that there is no conflict of interest and price slippages.
To take the benefit of this trading environment you just have to enroll yourself with the website and make a minimum deposit of $ 100. Traders are allowed to make a deposit through several options including cards, e-wallets and wire transfers. The organization also claims to process the withdrawal request within 24 hours of receipt. However, the website does not provide any information regarding the minimum allowed withdrawal amount.
The platform offers several assets for the trading including forex, commodities, indices and stocks. In the forex category, the company allows trading in EUR/USD, USD/JPY, GBP/USD, EUR/JPY amongst others, while in the commodities, it allows trading in only gold and oil. The current offerings in the indices category include DAX, S&P, DOW Jones, & NASDAQ, where the stocks category include popular stocks like Barclays, BP, Deutsche Bank, Apple, and Google. The number of assets available for trading is limited compared to the established binary brokers who are offering more than 200 assets.
The assets can be traded for the expiry ranging from 30 seconds to 1 hour. The expiry range can be set according to your preferences. The expiry available in the Daweda Exchange seems to be suitable for the short term traders and there is no options expiry which can attract long-term traders. As there is no intermediary in the platform, the customer is offered 100 percent return on their investment, which makes it one of the highest paying brokerage service in the binary arena.
The website requires standard form-filling to enroll in the real account. Also, the demo account available on the website can only be accessed by registering on the website. The website offers cash back to their loyal and volume generating clients, however, the website does not offer any upfront deposit bonuses as offered by their competitors. The platform also offers signal services to their customer at no extra charge. The Automatic Trading Service requires to set your preferences and it will start trading on your behalf. It uses basically two strategies: trend, & Reversal. As the name indicates the trend strategy will buy a call of an up trending asset while it will buy a put option of a down trending asset, whereas the reversal strategy will exactly reverse of the trend strategy.
The website is also optimized for the mobile devices and it offers a mobile application for android and IOS powered devices. The traders can download these mobile applications from Google play store and Apple app store respectively. The mobile application provides convenience to the trader who prefers to trade even while traveling.
Deposits and Withdrawals
The Daweda Exchange allows their registered users to use a variety of methods to make a deposit. The traders can use credit or debit card, e-wallets like the WebMoney, Skrill, and wire transfers to make deposit and withdrawals.
The website requires a minimum deposit of $ 100 but does not provide any information about the minimum withdrawal amount. The website restricts the change of currency after it has been selected. The information available on the website regarding the deposits and withdrawals is very limited.
The website claims that it processes the withdrawal request within 24 hours of receipt and aims to deposit the funds within 5 working days after the withdrawal has been accepted. The company requires their customer to comply with Anti-Money Laundering and Know Your Customer guidelines before making a request for withdrawal of funds.
Signup and Bonuses
The Daweda Exchange requires a standard form-filling and requires you to fill generic fields like name, e-mail address, contact number, address and other details to enroll in the site. The website does not offer any deposit bonuses but offers a unique volume and loyalty based cashback to their customers.
Payouts and Trading
It is heartening to note that the website offers 100 percent return on the investment. The payout ratio makes it one of the highest paying binary brokers in the industry. However, the Daweda Exchange offers very limited assets for the trading. Though the assets offered by the website includes stocks, indices, commodities, and forex, the number of assets are very few in each of the categories.
The service provider offers limited options to trade as it offers expiry ranging from 30 seconds to 1 hour only. The offering seems very few when compared to the established brokerage companies which offer expiry range up to 6 months.
As mentioned earlier, the trading platform has also been developed for mobile devices and it offers the apps through Google Play Store and Apple App Store.
The Daweda Exchange has developed a very robust customer support system. The customers can direct their queries through a web form, or e-mail, phone, fax, or a live chat. For general support, customers can contact the broker through support@Daweda.com, whereas, for complaints, they can get in touch with the customer support through complaints@Daweda.com.
The customer support service looks robust and seems to provide services to their customers. Also, it offers a live chat for communicating with the customer care representative. The customer support falls short on the language parameters as it is being offered in the only English language.
The review of the Daweda Exchange has unearthed many aspects of the broking company. The novel platform makes it very attractive alternative. The website offers 100 percent return on investment which makes it the most desirable broker, but it falls short on the number of asset offerings and expiry ranges. The company is well regulated and provides comfort to the traders. However, the limited assets and availability of only up to 1-hour expiry make it less desirable. The brokerage house is relatively new in the market and hence it is difficult to assess through customer’s viewpoint.
Though the indigenous platform is very attractive, it is a relatively new entrant in the binary options trading. Even though the broker is making its way in the market, still, we would recommend our readers to go with the well-known name over Daweda Exchange. Our readers can take a look at the Option Robot which is a well-known and established player in the binary market. It has gained its reputation with consistent services, strong processes, robust customer support, and range of assets and expiry to suit the entire strata of traders. It allows both short and long term traders to execute the trades and provides signals & automated trading to profit even without sitting in front of the desk.
Finally, it is clear that it is difficult to trust the new entrant in the market and hence we would recommend our readers to go with the established player like the Option Robot for their trading requirements.
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Michael Allen is the main author at www.binaryoptionrobotinfo.com. He holds a PhD in Economics and has worked in investment banking for 24 years.
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