This broker is closed! Try FX-Advisor instead!
Once a widespread popular binary broker – Daweda Exchange, is closed! If you already have an account with this broker, get informed on the withdrawal policy they will follow. Otherwise, try out some of the selected brokers from out Top 10 Binary Brokers List!
One of the recent additions to binary options market, Daweda Exchange has been appeared in 2016 and is run by Cypriot Companies Law.
Daweda Exchange is a regulated binary options broker which certainly provides South African traders with additional security since this means that the broker has to follow rules and guidelines imposed by regulatory body.
Aside from their obvious dedication to make certain their registered South African traders are given all the required security, Daweda Exchange also offers modern platform, great trading options as well as interesting underlying assets.
Daweda Exchange Trading Platform
Daweda Exchange minimum deposit is set at $100 which is a slightly lower amount from the standard which can be a great benefit for traders.
Minimum investment is set at $10 while there is no maximum investment amount specified which means it is unlimited.
South African traders can deposit funds in USD, EUR and GBP. With this broker maximum return can reach the coveted 100%.
In our Daweda Exchange broker review we also discovered that their attractive trading platform allows traders to sell and buy options straight from other traders without the need for the broker to play the middleman.
Daweda Exchange platform is multilingual and is available in English, Arabic, Russian, German and Russian.
Daweda Exchange Trading Features and Tools
Another thing we discovered during the course of our Daweda Exchange broker review we also discovered that this broker, unlike most, decided to have a proprietary platform. That means that the trading software used it the one which had been custom made for Daweda Exchange.
The platform itself is both visually attractive, efficient and user-friendly which should enable South African traders to have easy navigation.
With Daweda Exchange South African trades can utilize High/Low trading options in conjunction with expiry times such as 5 minutes, 30 minutes and End of Day.
In order to get the whole list of underlying assets, traders are advised to consult Assets, which can be found in Information section. There they can see which assets with corresponding underlying assets are available for trading.
There are also useful trading features and tools available with this broker which can improve trading performances.
One of the useful trading features is the demo account which is available with this broker. In our Daweda broker review we managed to find out that their demo account is free to be used by traders upon providing just a few basic information during the registration process.
Using demo account with Daweda Exchange can be a great way for novice traders wishing to do binary options trading with this broker since they try to provide a safe trading environment due to funds being virtual rather than real ones. Traders will be able to see how binary options trading works but without fear of losing their funds.
On the other hand, those South African traders who have experience might use demo to test various expiry times or strategies they have been reluctant to use thus far.
A much sought-after trading tools which can be found with most brokers is the mobile trading app and Daweda Exchange certainly did not disappoint in this respect either.
They offer their registered traders this great tool which both saves time since traders are able to trade binary options on the go and enables them to use every trading opportunity which presents itself.
With Daweda Exchange mobile app traders can keep track of all their past trades and all trading instruments and features which are present on the web-based trading platform are also available with the mobile app. On their platform South African traders can download the app from both App Store or Google Play.
Considering the rapid growth in popularity of automated trading in binary options, we were not surprised when we found out that this broker also offers this opportunity via their ATS (Automated Trading System) robot and that is another valuable information for Daweda Exchange broker review.
Daweda Exchange Customer Support Service
Having a reliable customer support service is an important segment for binary options brokers since that is the means of communication between registered traders and the broker.
In gathering info for our Daweda Exchange broker review we discovered that traders can use web form or email ([email protected]) in order to establish communication.
As of yet, Daweda Exchange hasn’t got the Live Chat option and since this is the quickest and most direct way for traders to get information they need from the broker we hope this will soon be implemented.
Another important and useful segment is also present with this broker – educational materials.
South African traders can find plenty of helpful info in “How to trade” section which contains:
- Platform Guide
- Our Order Book
Additionally, under Information section traders can also find glossary which has binary options trading terms explained, and traders can find out info about technology and assets.
Daweda Exchange Banking Info
Bearing in mind sensitive personal and financial data being exchanged, in our Daweda Exchange broker review we obtained the information that funds are kept in segregated bank account.
When it comes to payment methods, South African traders can choose between bank wire, e-wallets and debit/credit cards. E-wallets available are: Skrill and WebMoney. Credit and debit cards that can be used are Maestro, MasterCard, Visa and Diners.
In order to be able to withdraw funds, South African traders will have to supply the following documents: copy of photo ID, proof of address (utility bill) and copy of credit card.
Withdrawal request with Daweda Exchange is straightforward and fast and it usually takes only 24h.
First monthly withdrawal is free of charge with all the consequent ones with the month are charged with $25.