Daweda Exchange Review
Looking to start trading binary options in Singapore? Daweda Exchange might be the place for you. This is a strong service, but it’s a little different from many of the binary options brokers you might be used to seeing. Our review team has taken a good look at Daweda Exchange, and we have everything that you need to make an informed decision about this site here for our readers.
Trading is risky, and many people lose money doing so. While we can’t promise you that you won’t lose money trading, we can give you the resources that you will need to give yourself the best possible chances of success.
Ready to learn more about Daweda Exchange? Keep reading.
Trading at Daweda Exchange
It can be a little bit confusing the first few times you trade at Daweda Exchange, simply because you have two different ways that you can do so. You can either purchase an existing contract, or create your own to sell. Both present you with a lot of choices when it comes to creating a profit, but both carry a lot of risk with them.
If you are new to trading, we recommend that you do not create your own contracts until you are completely comfortable with the site and know how to use it. After a few weeks of purchasing contracts, you will be ready to effectively create your own, if you desire to do so. Just remember to start small if you are going to test this out so that you can reduce your risk while progressing through the learning curve.
Daweda Exchange is one of the most reputable binary options platforms out there. They encrypt their data with SSL security measures, and they are licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 298/16. When you create and fund an account with Daweda Exchange, you can be assured that your money and your personal information will remain safe.
Creating an Account
To create an account at Daweda Exchange, you will need a few pieces of information. Go to their homepage, and find the “Login” button at the top right of the page. Since you don’t have an account, a screen will pop up encouraging you to create an account. Click on that button. You’ll need your name, home country, email address, and phone number to get started. They will ask you to accept the terms of the site, and then you’re done with the first step.
The next step is funding. If you’re not 100 percent comfortable with putting money in an account yet, don’t worry. Read the rest of our review, and then sign up for a free demo account. Daweda Exchange has a demo account that Singapore traders can use to get a feel for what the site is like in real time, but without any of the risk. We highly encourage you to use this even if you are ready to make a deposit, just so you can practice before putting money at risk. This will help eliminate careless errors and unfamiliarity with the trading platform and has the potential to save you a lot of money.
You can deposit with a wire transfer, credit card, or e-wallet. The minimum deposit is $100 USD, or the equivalent in the euro or pound. Once you select your currency of choice, you cannot change it, so choose carefully.
Daweda allows the use of Visa, MasterCard, and the Diners card for credit cards. For e-wallets, they use several different choices, including WebMoney, Sberbank, and Skrill, to name just a few. They have many choices here for you in order to make your banking as easy as possible.
How Daweda Works
You’ve probably noticed that binary options brokers make money when you make an incorrect trade. This type of fee is hidden, and although it’s a standard practice at brokers, not everyone is comfortable with the model where your broker stands to profit when you do poorly. At Daweda, the trading is done on an exchange where you can buy or sell to other willing traders. For the site to work, there is a small upfront fee that you pay per contract. Looked at in this light, the difference that Daweda Exchange poses is a lot easier to understand.
The platform is very easy to use, but rather than explain it, we encourage you to create a demo account and experience it for yourself.
We know that traders in Singapore have a lot of choices to select their binary options broker or exchange from, so we want to know exactly what helps set Daweda Exchange apart. They have a lower cost of entry than most other sites at just $100 USD/EUR/GBP. This has helped to make them more accessible to people that aren’t quite sure what they want out of their trading yet. They also have much lower costs than most other sites because of the tiny flat fee that they charge per trade ($0.50), and they allow traders one free withdrawal per month, regardless of the method.
However, the thing we like most about Daweda Exchange is that we can trust them to do what’s best for their clients. It is in their interests to keep traders around, and because they are an exchange and not a broker, you don’t have to feel like they are the opponent when you are executing trades. Just like an actual trading floor, you are working with others who are voluntarily buying and selling options. Daweda just facilitates the exchange. The big regulated brokers are all trustworthy, but Daweda Exchange takes this to another level, and we really appreciate that.
Daweda Exchange Singapore
You have many choice when choosing who to trade with. Is Daweda Exchange right for traders in Singapore? In many cases, the answer is yes. Trading is risky, and Daweda Exchange has many tools on their site that can help you to reduce your personal risk when you start out.
If you have more questions about Daweda Exchange, go and check out their site. They have a strong demo account that you can take for a test drive and even get a feel for how the site works in real time. If you still have questions about the site after this, speak to their customer service department. The rest of your remaining questions will be taken care of.
We hope that this information has guided you in the right direction. Daweda Exchange is a strong place to trade binary options, and if you are located in Singapore or anywhere else where traders are accepted, this is one of the best choices that you can select.