Daweda Exchange is a unique trading website. They are not a broker, but rather an exchange, where you as the trader can both buy and sell contracts to other traders. Daweda Exchange is a CySEC regulated broker, so you know that they are reputable, but they are different as they are more of a matchmaker than anything else. If you’re thinking of trading here, testing out the Daweda Exchange demo account platform before you execute a real money trade is the smart move.
Read on to find out why.
Why Demo Trade at Daweda Exchange?
Like we mentioned earlier, Daweda Exchange is probably a bit different than what you are used to in a trading experience. If you jump right in, even the most experienced trader is bound to make a few mistakes. It is a different type of platform and a slightly different way of trading, and the path to success is going to be different because of this. That line of thinking just makes sense. Practicing before you risk real money can help you to overcome these differences. Daweda Exchange is not a difficult trading platform to use by any means, but having experience before you risk money will drastically reduce your chances of making a careless or uninformed mistake.
Beyond this better utility argument, the Daweda Exchange demo trading platform is a great way to truly determine whether this is the right place for you to be. Just like you would want to view a house before you bought it, or test drove a car before you bought it, the demo account lets you see what the broker is like before you make a real trade.
Getting Started at Daweda Exchange
The first place to check out on the Daweda Exchange website is the “How To Trade” page. You will find the link for this right at the top of their homepage. This is where you will find a video tutorial on how to use their site, a basic walkthrough of how to make trades, and access to the Daweda Exchange demo account. This will introduce you to their site, their platform, and what you need to do to be a profitable trader here.
One of the cool perks of Daweda Exchange is that you don’t need to fund your account to gain access to their demo account. A lot of brokers have you make a deposit before you can demo trade, but that is not the case at Daweda Exchange.
We highly recommend using the demo trading account here before you create a real money account. If you do decide to open a cash account, the process is pretty simple. You will need to verify some personal information, and then fund your account. You can use a Visa or MasterCard or an e-wallet, like Skrill or WebMoney, to fund your account. The minimum deposit to get started is 100 pounds.
Why Daweda Exchange?
Daweda Exchange is a much different type of trading experience than you will find at a traditional binary options broker. We have already told you why demo trading here before you start out is smart, but why should you bother with this site at all? Can’t you find all of these same things at other brokers, but with more liquidity since they are broker-backed trades?
Here, you are getting into the subtle difference between an exchange and a broker. At Daweda Exchange, because this is not a broker, you might run into problems once in a while if you are selling contracts. If no one buys your contract, then you will not have it fulfilled, and thus cannot earn money. But, with this comes some big rewards. It’s not a broker so you are trading with others just like yourself. This means larger returns. Let’s say you wanted to take out a binary option that the FTSE was going to increase in price, risking 10 pounds. You were correct in your prediction, and earned a 75 percent return as a result, earning 7.50 pounds.
At Daweda Exchange, you earn 100 percent on your trade. A single contract is 10 pounds, and if yours is correct, you earn the full 10 pounds back on your investment, minus the cost of the contract ($0.50). Depending on the exchange rate, you’ve earned more than 9.50 pounds, risking the same amount. At the broker, you receive a lower rate of return because you are paying the broker for backing your trade.
In other words, because of this subtle difference, you have the potential to make more per trade at Daweda Exchange.
Yes, there are drawbacks to this setup. There are contract costs and there is a chance that trades will not be fulfilled, and you will pay the contract fee without ever having your trade go live. These expenses can be controlled with experience, which is why we highly recommend demo trading here first.
Daweda Exchange Demo Account Conclusion
Before you ever try out a new broker or exchange, you should always familiarize yourself with their platform. You want to know what you will be using before you make a cash commitment to it, right? At Daweda Exchange, the best way to get used to their platform before you start trading is to demo trade at their site. This way, you can make real time trades on their real software platform, all without risking your hard earned money needlessly.
Is Daweda Exchange a site you’re still thinking about using? If so, please try out their demo account first. The site has a ton to offer traders, but not all traders will thrive here. It might be great for you, but there’s also a chance you will lose money. Losing money is a reality of trading because it is very risky, and most folks do not succeed here. We don’t want you to fall into this category. By practicing on the Daweda Exchange demo platform first, you can give yourself a better chance of success at their site if you decide this is the place for you.
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