EtherDelta is a fully decentralized exchange.
This platform is designed to protect users and prevent lose of funds which are inevitable in centralized exchanges that have total control of your funds and where you have to trust the exchange operator to hold your funds. In EtherDelta your funds are held in a smart contract such that only you can deposit, withdraw and trade.
Unlike the centralized exchanges you will have the responsibility of handling most of the activities like wallets setup, however there are guides to help you seamlessly get started.