Do you offer demo accounts?
Yes, you can use demo account for free for unlimited time. However, if you won’t login to your demo account for 15 or more days, it will be disabled and removed without a notice.
What type of account may I open?
We offer 2 types of accounts: ECN & VIP
Do you offer swap free accounts?
No, we do not support swap free accounts.
Do you offer Joint Accounts?
No.
What are the requirements to begin trading in my account?
Your account application must be approved and trading account funded.
What are the minimum deposits?
The minimum required deposit is 100 USD/EUR depending on your chosen account currency.
Can I register Corporate Accounts?
No.
What is the verification procedure?
The verification procedure starts with the client submitting personal details, filling appropriateness test, accepting Terms & Conditions, Policies of our services and providing KYC documents.
What are the documents required?

We need a color copy of your valid International Passport, National ID card or Driver’s License Card in order to verify your identity (for your National ID or Driver’s License both back and front copies are required). The document should have as a minimum:

  • Your full name
  • Photograph
  • Document unique number
  • Signature
  • Date and place of birth
  • Nationality
  • Date of issue and expiry
  • MRZ lines (if Passport and some of the ID cards)

Passport example:

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ID Card example:

Driving License Card example:

A copy of a proof of residence: Utility Bill, Bank Statement, Landline Bill, issued not more than six months old. The address shown in the document must match the client’s data provided during registration.
The document should, as a minimum, demonstrate the following information:

  • Client’s First Name
  • Residential Address (street name & number, city and country)
  • Date of issue
  • Issuer information

Utility Bill example:

As per Regulator requirements, documents must be certified as true copies. In case the certification is not available, additionally to the regular copies of the document, please provide us with landline number (home or work line) where you can be reached for phone verification. One of our Representatives will call you in order to finalize the verification.

Copy of Debit / Credit Card
We reserve the right to request a copy of your credit/debit card or credit/debit card statements to confirm payment method for security purposes. When copy of your card has been requested, please black out the 8 middle numbers on the front (and back if necessary) of your credit/debit card image. Also black out the CVV number on the back of your credit/debit card image.

Copy of Debit / Credit Card example:

Always make sure any provided document is in clear, color copy that enables verification of the provided information.

How long it takes for my account to be approved?
If no additional to provided information is required, then your account will be activated within 1 working day.
What leverage do you offer?

Default leverage for all accounts applicants is in line with the current regulatory requirements, and will depend on the instrument traded.

  • 1:30 for Major Currency Pair CFD’s
  • 1:20 for non-Major Currency Pair CFD’s, Gold and Major Index CFD’s
  • 1:10 for Commodity CFD’s other than Gold, and non-Major Index CFD’s
  • 1:2 for Cryptocurrency CFD’s

After assessing the suitability test, taking that you have relevant experience and understand the risks involved in trading, you can choose between following leverage ratios:

  • 1:50
  • 1:100

Please note, clients from Poland can be provided with maximum leverage of 1:100.

How can I deposit money in my account?

You can deposit funds to your trading account choosing deposit option in your client area and then picking from available, the most suitable for you payment method. Please note, in case of bank wires, if you transfer less than require minimum of 100, your trading account will be credited and disabled for trading, so you can deposit the difference and start trading or request refund.

How soon my account will be credited with deposited funds?
The deposits are instant, excluding wire transfer which is credited as soon as funds reach our bank account.
How do I request withdrawal?

You can withdraw funds from your trading account choosing withdrawal option in your client area.

How long it takes to receive the withdrawal?

After we process your request (at shortest, maximum within 1 working day), it depends on the withdrawal method, how soon you will receive funds on your end.

Time to receive funds per payment method:

  • Bank wire: within SEPA zone, it normally takes maximum 2 working days for the funds to reach your account. Other than that, under regular circumstance 5 working days is a maximum time for the funds to be credited on your end. Please, keep in mind, rarely, it may take longer due to internal bank producers.
  • Credit/debit card – maximum 5 to 7 working days, however the confirmation (ARN number) can be issued after 10 days passes since funds were sent.
  • Skrill/Neteller – instant, maximum 10 minutes since processed
Are there any withdrawal fees?
No, there is no withdrawal fees. However, please note, in case of wire transfer withdrawal, banks may submit the payment to the charges after funds left our bank account.
What do I do if I did not receive my withdrawal?
Please contact our Support or Back Office Team to investigate:
support@dawedafx.com
backoffice@dawedafx.com
What devices are supported?
Windows, IOS, Android
How many trading accounts can I have?
You are able to open up to three (3) Trading Accounts once your application has been fully verified. Additional accounts may be made available upon request, however, please note that we may require additional information from you.
Do you allow internal transfers between the own accounts?

Yes, however, those requests are checked and manually approved during working hours. Request for internal transfer has to be submitted from your client area or requested from your registered email address and send to backoffice@dawedafx.com, containing following information:

  • Source account number
  • Destination account number
  • Amount of the transfer

Please keep in mind, in order to carry out the transfer request, sufficient free margin is required.

Note, if the transfer is to be done between different base currency accounts, platform rate at the time of the processing will be applied.

What are the payment methods supported?
Coming soon
Can I use my wife’s/friend’s credit card to deposit? (third party deposits)
No, you can only use payment method that belongs to you. When 3rd party deposit detected, it will be refunded to the original payment method with processing fees passed from the Company.
What do I do if I don’t have proof of address under my name?
You will be requested to provide us with proof of address under name of the person the house bills are issued, along with the valid identity document of that person and written statement that you do not receive physical bills to your name.
Is DAWEDA EXCHANGE LIMITED a Regulated Company?
Yes, we are regulated by CySec (Cyprus Securities and Exchange Commission), license no 289/16.
Is my information secure with DAWEDA EXCHANGE LIMITED?
We take security very seriously and there is a number of precautionary measures to ensure that the personal details of our clients are held in absolute confidence and are securely stored so as not to be accessible by unauthorized persons.
Are my funds secure with DAWEDA EXCHANGE LIMITED?

An additional prerequisite of CySEC, is that all clients’ funds are held in segregated accounts, meaning they are held completely separate from DAWEDA EXCHANGE LIMITED accounts. Clients’ funds are kept by the Company in first class banks.

Do you offer negative balance protection?
Yes
What is negative balance protection?
Negative balance protection ensures that traders who possess losing positions don’t enter into a negative balance in their forex trading account. This feature is designed to ensure that Clients cannot lose more funds than currently available in their Trading accounts.
Can I trade on live account if I do not have previous experience in trading?

All Clients will be required to complete an Appropriateness Test during their registration so as to assess their experience and understanding of the products the Company offers. Upon successfully passing this Test, your Account will be activated and you will be able to trade.

Daweda Exchange Limited encourages all of our potential clients to obtain prior knowledge and trading experience by using a Demo Account. These accounts provide a trading environment closely similar to our Live Accounts and are available to all our Clients completely free of charge, enabling them to learn the basics of trading without exposing themselves to risks

What account currencies do you offer?

USD/EUR