Dsdaq is a forward-thinking broker that specializes in virtual currencies. The broker provides the first crypto-collateral trading app in the world, as well as crypto-mining of its Origin D decentralized coin. Draper Fisher Jurvetson, the founder of venture capital firm Draper Fisher, has invested in the company as a fintech startup. Since its inception, the company has grown to over 200,000 active users and a daily trading volume of $50,000,000.
Over 30 cryptocurrency pairs, including Bitcoin, Litecoin, and Ethereum, are available for trading. In addition, the app offers over 150 equities, including Tesla and Google, 18 ETFs, and a limited number of products, indexes, and currency pairs.
On financial assets, the corporation does not charge fees, but the broker earns from the spread. Current spreads for popular currency pairs, such as EUR/USD, are about 2.5 pips, which is fairly large. For crude oil, spreads are at $0.08, while for the FTSE 100, spreads are at around 2.78 pips.
Because the broker values speed, simplicity, and convenience, the app is exclusively available on mobile devices. The website includes a cryptocurrency wallet and allows you to trade other popular financial products using your bitcoin as collateral. Traders can use the charting features to manage positions and study markets in addition to comprehensive account management. The instruments can be seen on a variety of timescales up to one week, and there are five indicators to choose from for quick technical analysis. The trading app is available on the App Store and Google Play for iOS and Android phones.
For cryptocurrency and forex, the broker offers leverage of up to 1:100. For indices and commodities, leverage can be up to 1:50, and for stocks, it can be up to 1:10. These rates are standard in the market, but clients should be aware that trading with leverage entails additional risks. When you sign up for an account, you will receive a $10 welcome bonus. The incentive is non-transferable and can only be used in the app.
Bitcoin, Ethereum, and Litecoin are just a few of the cryptocurrencies that can be used to make deposits. Deposits and withdrawals at Dsdaq are done in 10 minutes or less, which is faster than rival brokers like Bitmex and Robinhood. For BTC, BCH, and LTC, the minimum deposit is 0.001. For ETH, the minimum deposit is 0.01, for USDT it is 1, and for XRP it is 10. Simply tap the wallet button at the bottom of the app and follow the on-screen instructions to deposit or withdraw money.
The Crypto Collateral Account (CCA), which you can register for free after installing the mobile app, is the only actual account. BTC, ETH, and USDT are the only cryptocurrencies that can currently be used as collateral. In the future, the broker hopes to add more. The typical exchange rate is 70% for BTC and ETH and 100% for USDT. Dsdaq provides a demo account, which is a useful tool for both new and experienced traders because it allows you to test the market without risking real money. Because the broker does not reveal its demo terms, it is advised to contact customer service for more information.
Dsdaq Market Ltd is currently unlicensed and unregulated. The broker, on the other hand, assures that the majority of clients’ cryptocurrency holdings are kept in an offline storage system (cold storage). An online wallet holds a small portion of crypto assets (hot storage). In addition, well-known investors such as DraperDragon Innovation Fund have backed the startup.
Cryptocurrency trading is open 24 hours a day, seven days a week, whereas other assets have specified session times. Monday through Friday, from 00:00 to 23:59 EST, Forex is open.
Stock trading hours differ per exchange; for example, equities listed on the NYSE or NASDAQ are open from 16:30 to 23:00 EST Monday through Friday. On the Fees and Conditions page, the broker breaks down these time periods in detail.