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Daweda Exchange Review - is it scam or safe?

Daweda Exchange Review - is scam or good forex broker?

RATING: 3 / 3 REVIEWS ForexBrokerz Daweda Exchange


Account Types


Account type Minimum deposit Minimum trade size Maximum leverage Spreads
Standard $250 0.01 1:200 From 1.2 pips


Daweda Exchange offers its clients a Standard trading account type with variable spreads, default leverage of 1:50, and the option to trade in micro lots.


There is also a Xchange (ECN) account that is also accessible with an initial investment of $250 and is said to offer Raw market spreads from 0.1 pips, involving commission fees, but there isn’t much information about it on the broker’s website.


The Company. Security of Funds





Daweda exchange Ltd.




Daweda exchange was initially launched in 2016 like a binary options provider, promising a peer-to-peer execution model where options buyers and sellers act as counterparties, without the involvement of a broker. Daweda used its proprietary binary options trading platform with its own orderbook and also launched automated trading. The broker, however, has obviously changed its focus to forex and CFD trading, and currently offers the ever popular MetaTrader 4 platform.


As binary options are lately under attack by a number of EU regulators, many brokers have closed down shop or turned to FX. For example, Banc De Binary and AnyOption have exited binary options business, 24option now offers forex and CFDs, and BDSwiss launched a separate forex broker brand.


Daweda claims to provide straight through processing (STP) execution without any “dealing desk” intervention and no conflict of interest. The brand is operated by Daweda exchange Ltd., a Cypriot Investment Firm (CIF) licensed by Cyprus Securities and Exchange Commission (CySEC) in 2016.


Many binary options and forex brokers choose to get a license in Cyprus, since regulation there is not that tough as in the UK, and yet it involves a certain level of security and reliability. Besides, Cyprus is a part of the EU and that is why companies regulated there are MiFID compliant and free to offer their services in any EU Member State, while the future of FCA-licensed brokers in that regard is uncertain (after Brexit).


Brokers regulated in Cyprus are required to hold at least €730 000, t regularly report transactions, and to keep client funds in segregated accounts, as well as to comply with a number of other requirements.


Furthermore, CySEC applies a compensation scheme as an additional guarantee to clients’ funds. All licensed brokers are members of the Investor Compensation Fund, which may cover a maximum of 20,000 EUR per person in the event of broker insolvency.


Trading Conditions


Minimum initial deposit

In order to open an account with Daweda exchange, one has to invest at least $250. Such initial investment is common for the industry.


Spreads & Commissions

Daweda exchange offers variable spreads, starting from 1.2 pips for the EUR/USD pair, which is on the upper end of average. 


Most brokers usually offer spreads within the range of 1.0 – 1.5 pips for this pair. Others offer lower spreads, but usually a commission applies. By comparison, XM, a broker licensed by CySEC, FCA and ASIC, offers spread averaged 0.1 pips on its Zero accounts (accessible with just $100), and a commission of $5 per standard lot (per side) applies.



The default leverage level offered by Daweda exchange is 1:50, which is a low ratio, yet it is in line with the latest recommendations of CySEC. The maximum leverage level offered by this broker is 1:200, depending on the results of appropriateness assessment of the client.


Despite CySEC’s guidelines, many Cyprus-based brokers still offer high leverage levels - for example, XM provides leverage up to 1:888. Keep in mind, however, that such high leverage combined with rapid rate fluctuations can make the Forex market profitable but at the same time risky.


Trading Platforms


As we mentioned above, Daweda exchange supports the most widely used forex trading platform - the MetaTrader4 (MT4), available as a desktop version and mobile applications. Unfortunately, the broker does not offer demo accounts and we could not log into Daweda’s MT4 to test the broker’s services.


MetaTrader 4 is highly reliable and customizable platform that offers traders access to advanced trading operations in a fast and secure environment. Its charting is top-notch, and there are numerous useful technical analysis indicators, as well as Expert Advisers, allowing users to automate their trades.

Methods of Payment


Daweda exchange supports a small range of payment methods - credit/debit cards & bank wire transfer and Skrill.


Accepted currencies: USD, EUR, RUB, GBP




Originally a binary options exchange, Daweda currently offers forex and CFD trading on the popular MT4 platform. The broker holds a license from the Cyprus Securities and Exchange Commission and provides reasonable trading conditions. However, there are no free demo accounts and we could not try out its services. To sum up the above:


Pros Cons
Well-regulated No demo accounts, no live chat
Competitive pricing  
MT4 available   


Latest news about Daweda Exchange
No news about Daweda Exchange . Check back later.
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Traders` reviews for Daweda Exchange
















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scam investment

is an scam investment. my money gone. just invested 2 mobths ago. usd 5k. daweda/mirdasama is scam.

jerry lim 12/24/2019

Support Service

Have a live trade account approved but deny
bank information for bank wire transfer despite several request mails.

Hing 07/15/2018
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