Daweda Review – Unique Binary Options exchange

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Daweda

Daweda are no longer trading. For a list of alternative brokers, and full comparison reviews, visit our brokers page.

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Daweda deliver binary options trading via a peer to peer trading exchange. Based in Cyprus and regulated by CySec, the firm offer a very different model to their rivals. Daweda are the only firm dedicated to exchange traded binaries. The underlying assets all boast strong liquidity, which is vital for an exchange. That should continue as the platform expands, and more traders use the platform.

A trader to trader exchange means Daweda are not acting as counter party to any trade. They match two traders together who take opposite views on the same underlying asset. The firm make a charge of $0.50 for each contract and therefore can afford to offer payouts of 100%, without a spread of any sort.

Main points info for the this brand;

  • Demo Account – Yes (Demo balance is ready to use as soon as a trader has registered)
  • Minimum Deposit – $100
  • Minimum trade – $10
  • Signals service – No.
  • Bonus details – Monthly cash back for active traders.
  • Mobile App – Yes. Available on android, iOS (iPhone, iPad) and Windows.

Trading Platform

The Daweda platform is simple, as befits an exchange. The asset menu is found on the top of the trading screen, and the underlying assets and expiries are beneath. Choosing the required market then updates the price chart. The graph can be switched between timeframes, and shows the current price as well (both to buy and sell a contract). Moving over the ‘Buy’ and ‘Sell’ buttons will also create a grey area on the price graph – this shows the level at which an option can be brought or sold. A useful visual aid.

Each contract is subject to a $0.50 fee, with the minimum contract at $10 (or equivalent). Accounts can be opened in USD, GBP or EUR. Multiple contracts can be opened and traded using a drop down in the central area of the trading area. Once traders have the right trade size, they can select the Buy/Sell buttons.

Using the buttons will create a new option ‘order’ at the price level selected. Using the +/- buttons, a trader can amend the price level – so traders can open an option order at the price level they require (not only at the given level at that moment). A pop-up will then appear, requiring the order to be confirmed. Once confirmed, the order is then live, and will wait to be matched by another trader. With genuine peer-to-peer trading, orders will not always be matched – but traders can set exactly the price level they want in order to enter a trade. This is the main point of an exchange, a trader can set any price level they wish. For an option to be placed however, another trader needs to be happy to take the opposite view on that underlying asset.
Open orders, plus orders waiting to be matched, will show below the price chart, and on the top right of the trading area. The current status is also displayed, so a trader can se when they have been matched.

Trader Choice

The asset lists at the firm will grow and grow. 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 – which is absolutely the correct thing to do. 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. This list will be expanded as traders ask for it. Liquidity is the key for any exchange and Daweda will open new markets wherever there is demand for it.

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Mobile App

Daweda deliver their exchange platform on both an Android app and iOS mobile systems (both iPhone and iPad). The mobile application gives traders use of the full range of exchange assets. It lists all working orders on contracts, and open contracts – giving traders an up to date position. The screens are clear and easy to use, making the simplicity of the exchange available for traders on the move.

Users can create a ‘Favourites’ list of assets (something which is also available on the web version) to make accessing markets easier on a mobile device. Account management choices are also available. The mobile app is a great addition to the main site.

Auto Trading Software

The firm offer an ATS service – Automatic Trading Software. This type of software is sometimes referred to as a trading ‘robot’, or auto-trader. This platform allows traders to build their own trading choices, and run it automatically, without the need for any user intervention or manual action. This a great feature from the firm and a growing area of interest for busy traders. It shows the firms 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. Select the amount of contracts you want per trade (setting the maximum risk for each trade)
  2. Choose a limit for the number of trades in a day
  3. Build your trading strategy
  4. Set a profit limit per day if required (The ATS stops once this is reached)
  5. Set a loss limit per day (The ATS stops once this is reached)
  6. Choose the underlying assets
  7. Activate the ATS. This sets it live and it will now trade as instructed

As an exchange, the ATS provides a superb resource for making sure trades are triggered for the exact price point you need – enabling traders to make trades where certain resistance or support levels are reached or passed, or stepping back from the market where prices do not reach the required levels. The speed of the ATS is also far superior to trading manually, which means the best prices can be snapped up instantly.

Payout

Payouts at Daweda are shown as 100%. Traders should note however, that the $0.50 charge per contract just reduce the amount “returned” fractionally. If hedging, this charge applies on both contracts. So a 50% in-the-money winning will still make a small loss over time.

There is not however, a spread to cover as the price matched, is the exact price the contract is struck at on both sides. Both buyer and seller “match” at the same price.

Withdrawal and Deposit Options

The firm accept deposits via Credit card, eWallets: Skrill and WebMoney, and also bank wire transfer. The deposit process is fairly simple, but as with most regulated brokers, there may be some verification required.

Withdrawals are hassle free, with no minimum amount. One withdrawal a month is free – payouts beyond that in the same calendar month will be charged $25 . As is normally the case, traders need to make a withdrawal to the same source as they made the deposit with.

Daweda process withdrawals within 24 hours, which puts them among the best for arranging account withdrawals.

Other Features

Daweda offer their clients the following features and benefits:

  • Cashback – As traders stay active, they earn cashback – the longer they trade, the more they earn. This cashback is paid direct in trading accounts.
  • Education – As the platform is unique, there is extensive material on how to use it. The demos also include the ‘hedge’ option.
  • Order book – The Daweda Exchange Order Book is a key part of the platform – a unique feature that allows traders to view all the current orders, and contracts on any chosen asset. Updated in real time dynamically, it gives a clear idea of market activity in a simple view. It shows 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 – locking in profit.
  • Professional Client Program -The Daweda Exchange Professional Client Program allows professional clients to trade using automated tools they developed themselves, or with the help of bespoke solutions using software that the firm provide.

Daweda

Rating Payout Min Deposit Bonus Regulated
» Visit
100% £100 Monthly cashback

Yes 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.

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Best Binary Options Brokers 2020:
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    Top Binary Options Broker 2020!
    Best For Beginners!
    Free Trading Education!
    Free Demo Account!
    Get Your Sign-Up Bonus Now:

  • BINOMO
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    Only For Experienced Traders.

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