DueDEX is a global exchange that offers a Bitcoin leverage trading platform. It’s quickly become a popular crypto trading exchange for traders that want to trade Bitcoin 24/7 and with margin up to 100x.
In an environment where traders are looking for new platforms to trade and increase their BTC holdings, we will review the DueDEX exchange to assess its features, trading fees, security and reliability (so you don’t have to!)
It’s generally a good idea to users reviews before you sign up to a crypto exchange and deposit funds, right?
So without further ado, here is our review of the DueDEX crypto platform.
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Review Of DueDex Features, Trading & Fees
DueDEX is a Bitcoin-only margin trading platform. The name The “DueDEX” is a combination of the words “Due”, “Derivatives” and “Exchange”. The word “Due” represents anything that is appropriate, adequate, regular and lawful.
As a registered exchange in Belize, DueDEX aims to bring fairness and transparency to the exchange of digital assets.
DueDEX Features
Here is a summary of the best features on DueDEX (with our commentary):
- Bitcoin margin trading with up to 100x leverage
- Up to $70 Welcome Trading Bonus eligible to all new users
- Isolated and Cross Margin
- 100,000 TPS per contract, low latency of less than 10 ms
- Fair Price Marking Mechanism (to prevent users from market manipulations)
- Insurance Fund & ADL Leveraging
- Demo trading account (testnet)
- No KYC requirements
DueDEX Registration & Login
To register an account with DueDEX, the process is fairly simple.
You will be asked to login to your nominated email address. There is no need to enter in any personnel information or upload identify documents.
As DueDEX is a Bitcoin trading platform only and does not offer a fiat-to-crypto ramp, there is no KYC process.
Once you have registered, you can log in to DueDEX using your email ID and password. A verification code will be sent to your email so make sure you check your junk mail if you don’t receive it.
Like with all crypto trading exchanges, we always suggest users to setup and activate 2FA and SMS authentication (highly recommended) for extra security. To do this, navigate to the ‘Account Security’ in your Profile section. It only takes a few minutes.
Funding Your DueDEX Account
DueDEX is a Bitcoin-only crypto platform. Therefore, it accepts deposits in BTC only.
To deposit BTC into your DueDEX account, navigate to the ‘Deposit’ menu on the left. Here, you can deposit Bitcoins directly from your hardware wallet or from another exchange.
Alternatively, you can always purchase funds using a reputable fiat-to-crypto exchange and then transfer the purchased Bitcoin into DueDEX.
DueDEX User Interface
This is an important section, as technical traders will spend a lot of time looking at the charts and analyzing their specific trading strategies. The trading interface as shown below is sleek, intuitive and simple to use.
Open orders and positions can be quickly viewed along the bottom. This is quite traditional but in our opinion allows you to best maximize the chart size. On the right, the order book, recent trades, BTCUSD contract details and order window are neatly positioned.
Each trading window appears fixed in its position, however as mentioned, the user-interface arrangement is standard and will appease the majority of crypto traders.
If you are into technical analysis and require sophisticated trading tools, DueDEX charts are powered by TradingView which provides a complete trading package for beginner and advanced traders.
As most will know, TradingView charts that are renowned for smooth, intuitive and clean visuals with a variety of advanced trading tools and indicators that can be inserted on the charts.
DueDEX includes several order types that will cater to the various crypto trading strategies such as:
- Limit order
- Advanced Limit (Post Only, Good Till Cancel, Fill Or Kill, Immediate Or Cancel)
- Market order
- Stop Limit
You can set the leverage, risk limit, order price, quantity using the order window. The amount of leverage is controlled using a slider as shown below which can be changed in an existing position.
DueDEX Risk Manager
DueDEX helps traders to manage trade risk and prevent liquidation with their own proprietary Risk Manager.
It allows users to adjust the risk on account equity from as little as 0.25% per trade. The tool automatically adjusts “Stop” and “Position size” as per your defined risk % (or points).
You can also set “Take Profit” to provide your custom Risk & Reward ratio and visualize the trade before execution.
This tool will be helpful to beginner crypto traders to determine the parameters of your trade before you execute it. If used correctly (and consistently), it will help you to plan out and visual a potential trade setup and help reduce losing trades in the crypto market.
There is a full guide on how to use the DueDEX user-interface that you can read here.
DueDEX Leverage
DueDEX offers margin trading on its Bitcoin derivatives product with high leverage up to 100x. The platform can only set one leverage amount for the same type of orders. Users also have the option of choosing between isolated and cross margin.
DueDEX Fees
Exchange fees need to be evaluated before decided to trade on a cryptocurrency exchange. This is even more critical when trading larger position sizes with margin or making multiple trades in a single day (i.e. day traders) which can eat in your profits.
With that said, here is a breakdown of DueDEX’s fees:
Deposit / Withdrawal
DueDEX does NOT charge fees on deposits or withdrawals. When withdrawing cryptocurrency, there is a minimum network fee which is determined by the blockchain load.
Trading Fees
DueDEX applies a maker and taker model for determining trading fees. Depending on the type of order placed by the user, the exchange will determine the trading fee to be applied as follows:
- 0.075% fee applies for limit and conditional orders (taker)
- -0.025% fee applies for market orders that fill (maker)
Compared to other crypto margin trading platforms, the trading fees on DueDEX are quite reasonable and competitive.
Frequently Asked Questions
Is DueDEX Legit / Safe?
DueDEX is registered in Belize in an effort to bring fairness and transparency to the exchange trading of digital assets such as Bitcoin. The website states a number of security measures in order to keep its customers funds safe when trading on the exchange such as:
- 100% of assets are stored in cold storage with multi-signature
- Client withdrawals are audited by multi-layers human involvement
- Accounts have ability to enable 2-Factor Authentication
- Website is fully encrypted with SSL
Does DueDEX Have A Testnet / Demo / Paper Trading Account?
Yes. DueDue has a testnet available that allows its users to demo trade bitcoin with virtual money. It allows potential traders to experience using the DueDEX trading platform before depositing funds.
Does DueDEX Have An Affiliate / Referral Program?
Yes, DueDEX has a 2-level lifetime referral program that allows you to receive 30% of affiliate trading fees plus an additional 10% of Level 2 affiliates.
What Countries Are Supported By DueDEX?
DueDEX allows clients to use its services from all over the world, apart from a select group of countries due to jurisdictional restrictions on cryptocurrencies. The countries and territories that may NOT trade on DueDEX include the following:
- Hong Kong
- Cuba
- Iran
- North Korea
- Crimea
- Sudan
- Malaysia
- Syria
- United States (including all USA territories)
- Bangladesh
- Bolivia
- Ecuador
- Kyrgyzstan
A Few More Questions
Do I Need To Submit KYC Documents To Start Trading?
No. There are no KYC requirements or the need to upload personal information or documents to the exchange in order to deposit crypto funds, trade or withdraw using DueDEX.
Does DueDEX Have A Mobile Trading App?
No, DueDEX has not released an Android or iOS mobile app to allow users to trade 24/7 with their mobile devices.
Can US Customers Trade With DueDEX?
No, US customers are not allowed to trade with DueDEX due to strict regulations that are outside of DueDEX’s control.
DueDEX Review: Our Verdict Is…
To conclude our review, DueDEX appears to be a safe and reliable platform to trade Bitcoin perpetuals with high leverage. While it does not offer other major crypto pairs such as Bitcoin, Ethereum, Litecoin and Ripple, the exchange makes up for it with great features and a user-interface.
We expect DueDEX to attract a lot of users and liquidity in the near future (after they add more markets to trade)
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If there are other cryptocurrency exchanges that you want us to review, leave us a comment.
Risk management tools and platform features are very important for any prospective cryptocurrency investor. The following cryptocurrency trading exchanges – in addition to the above exchange – provide advanced trading features, technical indicators and a smooth, mobile-responsive charting interface that will be suited to beginners and professional crypto traders.
