1. What is DueDEX?
DueDEX, registered in Belize, is a fair and professional crypto derivatives trading platform. The name “DueDEX” is a combination of the words “Due”, “Derivatives” and “Exchange”. The word “Due” represents anything that is appropriate, adequate, regular and lawful. Derivatives and exchange refer to the provision of services. By highlighting the word “Due”, DueDEX expresses the intent to truly bring fairness and transparency to the exchange of digital assets.
DueDEX is currently enabling users to trade with BTCUSD & BTCUSDT perpetual swap contracts with up to 100x leverage. A perpetual swap is an innovative derivative product. It trades like spot, tracking the underlying Index Price closely. It is also very similar to traditional futures, but it doesn’t have an expiry date, so there is no settlement. 24/7 trading allows traders to open a position or close a position whenever they like to.
2. DueDEX Features
- Up to 100x leverage trading, high return against high risks
- Perpetual swap without expiry date and daily settlement
- Fair price marking mechanism: mark price calculated based on the weighted average of the latest prices from mainstream spot exchanges to prevent users from market manipulations.
- Bitcoin margin trading, currently only Bitcoin as trading collateral
- No KYC requirements
- Up to $60 Welcome Trading Bonus, instant trading for free
- 100,000 TPS per contract, low latency of less than 10 ms
- Funding: The mechanics of funding ensure that the price of perpetual contract on DueDEX will track the underlying Index Price closely. Periodic payments are exchanged between the buyer and seller every 8 hours.
- Insurance Fund + Auto-Deleveraging (ADL): In time of liquidation, if DueDEX is unable to liquidate the position at the bankruptcy price, DueDEX will first spend some Insurance Funds on aggregating the position in the market in an attempt to close it. If unsuccessful, it will then lead to an Auto-Deleveraging event, which will automatically deleverage the positions owned by opposing traders according to profit and leverage priority.
- 24/7 professional customer service
3. Create a DueDEX Account
Please go to DueDEX website: https://DueDEX.com/
Click the “Register” at the top right corner. You can choose to register with your email address or mobile number.
- For Email Registration:
Step 2. After you finish the last step successfully, you will see below screen and receive an Account Activation Email. Please log in to your registered email and activate your account by clicking the link inside the email sent by DueDEX.
Step 3. After clicking, you will see below screen and now you have successfully registered on DueDEX.com. Click Login and you can start trading now!
- For Mobile Registration:
Step 1. Please select your country code and enter your mobile number and password.
Step 2. After clicking “Register”, a SMS verification code will be sent to your registered phone number. On the pop-up verification page, please enter the verification code you just received and click “Confirm”. Now your registration is completed and you are logged in DueDEX.
4. Making Your First Deposit
To be able to trade on the exchange, you need to transfer some cryptocurrency to your account first. Currently, DueDEX only accepts deposit of BTC & ERC20 USDT, with plans to accept other cryptocurrencies in the near future. To protect your asset security, please carefully select your wallet address and make sure you select the correct wallet address.
Step 1. To check your wallet, please click the “Account” tab at the top left of the screen.
Step 2. Click “Deposit”. Then please select the token (Here we take BTC as an example), and you can see your deposit wallet address. Navigate your cursor to the ‘copy’ icon, you can make the transfer from external wallet to DueDEX BTC wallet.
Note: There's no minimum deposit requirement on DueDEX.
5. Placing an Order
On DueDEX’s “Place Order” session, there are two order types: “Limit” and “Market”. You can choose either type of these orders to begin trading. The difference is the method how your entry price is determined.
The limit order is an order to buy or sell at a designated price.
Step 1. Click on the “Limit” button on the top right corner of the trading page. You can set a certain price to execute your order, the order will be executed when the market price reaches the price you set.
Step 2. After click on “Limit”, you can set your leverage, quantity and a designated price.
- Leverage: The leverage amount you choose is to determine the level of margin you would put for this order, and the level of risks you wish to undertake. The higher leverage, the lower the margin required, the higher risks. Please note that positions is default to cross margin mode on DueDEX, the leftmost of the leverage slider, which is 100x leverage. You can slide to the right to change to isolated margin mode and choose to change the leverage you desire.
- Risk Limit: Risk limit here is a risk management measure used to prevent large liquidation incidents. DueDEX applies Risk Limits on all trading accounts to minimize the occurrence of large liquidations on margined contracts. Your current risk limit usage will be indicated. If you place an order that would bring your usage above your risk limit, you will need to click the Edit button on the right, to increase your risk limit, and then you can submit your order. Please note that, with the change of Risk Limit, the level of initial margin and maintenance margin will change accordingly, so does the margin required to place the order.
- Price: You can set the price as you want. The order will be executed when the market price reaches the price you set.
- Quantity: The quantity field refers to the quantity of contracts you wish to transact in and is denominated in USD. (1 contract = 1 USD)
Step 3: Click on “Buy/Long” or “Sell/Short” button to place your order. Then there will be an order confirmation pop-up appearing on your screen with all your order details, including Leverage, Notional Value, Cost, Balance and etc. Click on “Confirm” button on pop-up, your order will be successfully placed in order book. When the Last Trading Price reaches the price you set, your order will be filled.
A market order is a buy or sell order to be executed immediately at the current market prices.
Step 1. Click on the “Market” button at the top right corner of the trading page. Your order will be executed at the best existing/current market price.
Step 2. After click on “Market”, you can set your leverage quantity and risk limit if needed, as explained before, to place a Limit Order.
Step 3: Click on “Buy/Long” or “Sell/Short” button to place your order. Then there will be an order confirmation pop-up appearing on your screen with all your orders details, including Leverage, Notional Value, Cost, Balance and etc. You can check and replace your order. Click on “Confirm” button on pop-up, your order will be filled according to market conditions.
Note: When you set your leverage, please be aware of the change of margin mode:
- Cross Margin Mode: Margin is shared between open positions. When needed, a position can draw more margin from the total available margin to avoid liquidation. Cross Margin mode is the initial default setup for all positions on DueDEX.
- Isolated Margin Mode: Margin assigned to a position is restricted to a certain amount. If the margin falls below the Maintenance Margin level, the position is liquidated.
A conditional order will enter into the order book only when the market reaches the pre-set Trigger Price based on the three Trigger Price Types: Last Traded Price, Index Price, or Mark Price.
This feature is frequently used to limit losses and take profit to close a position without manually waiting for the market before placing the order, nor disclose the traders’ trading intention. Set the preferred Leverage, Trigger Price (as your Stop Loss/Take Profit) using Market or Limit then Quantity. Finally, click on ‘Buy/Long’ or ‘Sell/Short’ and check your entries under ‘Positions’ > ‘Conditional’ tab.
On DueDEX, Reduce-Only option is selected by default, therefore, if a trader would like to use this feature to enter the market at the desired entry point automatically, he/she should untick the Reduce-Only option.
DueDEX offers two types of Conditional Orders:
- Conditional Market Order: When the market reaches the Trigger Price (Last/Index/Mark), an order will be placed on its best available price.
- Conditional Limit Order: When the market reached the Trigger Price (Last/Index/Mark), an order will be placed and enters into the order book.
For Conditional Market Order, you will need to fill in the Triggered Price and quantity first. After the triggered price, the order will be placed and filled at the best price available.
For Conditional Limit Order, you will need to fill in the Triggered Price, Order Price and quatity. The order will be placed in the order book after the triggered price and will be filled at the Order Price. It is worth mentioning that the final order price might be slightly from the set Order Price due to market depth or huge market change.
DueDEX has launched the first-of-the kind “DueDEX Risk Manager”, an automated risk management solution for traders to manage risk % on account equity.
The factors include:
- Take Profit %
- Stop Loss %
- Quantity of order based on risk level
How to use Risk Manager:
1. Select Buy/Sell and Leverage
First go to the Risk Manager tab, similar to other placing order processes, select Buy or Sell and the leverage as the first step. NOTE: 50 & 100x leverage will not work with the Risk Manager. Please select a lower leverage.
2. Select the Order Type
In DueDEX Risk Manager, “Limit Order” and “Market Order” are both offered. If “Market Order” is selected, the order will be placed at the latest “Market Price”. If “Limit Order” is selected, you need to set a price where the order will execute. When “Limit Orders” execute, “Stop order” and “Take profit” are immediately entered into the order book. When “Market Orders” are used, the “Stop order” and “Take Profit” are immediately entered onto the books.
3. Take Profit and Stop Loss
In this step, based on users' “Take Profit” and “Stop Loss” preference, the upper and lower close price of the order are set. Users can either use the Profit Rate or Loss Rate (Profit/Total Balance or Loss/Total Balance) option or set the price directly. Users can either slide the bar or directly fill in the percentage to change it.
4. Set the quantity of the order
DueDEX offers this function to help users understand the risk per trade. DueDEX automatically calculates the quantity of the order according to the Risk/Equity ratio. This is easily presented with the (%) and ($) value. Similarly, the percentage can be set either by the slider bar or fill in the number directly. The default risk is set to 0.25%.
5. Place Order
When orders are set, users can set the “Time in Force” and “Trigger Type” of their order, review the Risk (%) and Profit(%). Now click “Place Order” to execute!
Please note: DueDEX Risk Manager can only be used when there is no current position in your account. If the Place Order button is unclickable, please check your current positions and close all of them before using the DueDEX Risk Manager.
DueDEX Risk Manager is a tool used to control risk to your trade profile. It does not protect from slippage and adverse market conditions.
6. Closing Your Position
When you want to close your positions to either withdraw the profit you made or to limit your losses, there are a few ways to go about this. If you went long, you will need to sell to close your position while if you went short you will need to buy long.
Check your position details at the bottom of the trading page, you will find a gray button named “Market” and a red button named “Close”. If you press the gray “Market” button, it will exit your positions at whatever the market price is right now. If you press the red “Close” button, you will exit your position once the price gets to the amount you’ve entered.
Besides closing your entire positions at the Position Details section, you can also close the positions by opening opposite positions with same quantity. Or you can choose to partially close your positions. E.g., if you hold 1000 BTCUSD short positions, you can place a buy order with 100 BTCUSD to partially close your short positions.
Till now, we hope you have enjoyed your trading experience on DueDEX and now it’s time for you to make some withdrawal.
On DueDEX, you are required to enable Google Authenticator as Two-Factor authentication first, then you are able to make a withdrawal, which adds an extra layer of security to user account and protects sensitive operations such as logging in, generating API keys, and withdrawal.
Therefore, let’s start from setting up Google Authenticator.
Step 1. Click the “Account” Tab on the top of the trading page, then click “Security” under “My Account” on the left sidebar. You now can see the security page. Click on “SET UP” button on Google Authenticator sector start the setup.
Step 2. Install Google Authenticator on your mobile or tablet. On iOS devices, search "Authenticator" in App Store. On Android devices, search "Authenticator" in Google Play store. Download and install.
Step 3: Upon installation, in this app, scan the QR code on the “Set Up Google Authenticator” page to add your DueDEX account to Google Authenticator. There will be 6-digit code showing on your Google Authenticator app in your mobile or tablet and the code will change every 30 seconds.
Step 4: PLEASE remember to back up your GA Key. Write it down and store at a safe place is recommended.
Step 5: Before your key in the 6-digit code showing on your Google Authenticator app, please click “Send” button and DueDEX system will send your existing 2FA code by email or by SMS, which depends on how you register your account and if you have added another 2FA tool yet. Below image is an example of sending 2FA code to your registered email.
Step 6: Please log in to your registered email and Google Authenticator App to check and enter the email verification code and Google Authenticator Code respectively on “Set Up Google Authenticator” page. Then click on “Confirm” button to complete your Google Authenticator setup.
Step 7: After verification, now you have successfully set up Google Authenticator as two-factor authentication tool. And the Option you have under Google Authenticator is "DISABLE".
Now you can proceed with your withdrawal.
Step 1. On main trading page, click the “Account” tab on the top, then click “Withdraw” button on the left sidebar. Here we take BTC as an example, select BTC as the token, and enter your external wallet address and amount you’d like to withdraw. Then click on “Submit”.
Step 2. After clicking “Submit”, there will be a 2FA verification pop-on appearing on your screen. Enter your 2FA code and click “Confirm” to complete your 2FA verification.
Step 3. Upon completion of Google Authenticator code verification, there will be an email verification pop-up appearing on your screen. Please click “Send” to get your email verification code and enter the code to complete your email verification.
Step 4. Once your withdrawal request has been successfully submitted, there will be a confirmation email sent to your registered mailbox.
Note: DueDEX will process withdrawals 3 times a day at 0:00, 8:00, 16:00 (UTC)
The Withdrawal cut-off times will be 30 minutes before the scheduled withdrawal processing time. For example, a request made before 15:30 will be processed at 16:00, and a request made after 15:30 will be processed at 0:00 the next day. Your withdrawal should be deposited to your external wallet 1-2 hours after review.
Please note, if you haven’t set up Google Authenticator on DueDEX, after clicking “Submit” button on the withdrawal page, there will be an alert pop-up appearing on your screen. For the safety of your funds, please click “Confirm” to set up your Google Authenticator first.