This broker was not featured in our 2023 Broker Review Audit. This is because, in the past 12 months, it has failed to pass our initial screening process and is not recommended by our team of experts. As such some of the information found here may be out of date.
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Darwinex comes off as a breath of fresh air in the Forex market that is usually crowded with brokers looking to capitalize on the lucrative opportunities available in the retail trading industry. Forex brokers are primarily in the market to make money, and while a handful of honest brokers make profits through spreads, commissions, and SWAPs, a majority of brokers resort to unethical means of making money by tampering with the price feeds, misusing client funds, or by simply taking positions against their traders.
Darwinex offers two different investment opportunities for traders. The first option is to trade the market on your own using a dedicated trading account. The second option is to use the broker’s advanced social trading platform to profit from investing in other successful traders using social trading strategies. Social trading is one of the latest concepts in online investments, and several Forex brokers such as eToro and Zulu offers different types of social trading platforms for their clients.
Darwinex has the distinction of being one of the most highly respected Forex brokers due to their commitment towards maintaining the best standards in customer service. They also offer a fair and honest trading environment that is largely devoid of any harmful intrusion from the broker’s side.
|Forex, indicies, commodities|
Managed & Trading Accounts At Darwinex
Darwinex concentrates on creating an investor-centric brokerage service that aims to make every investor successful. Darwinex is not the average market-maker broker, as they offer a DMA (Direct Market Access) account, which connects a trader directly to the liquidity provider or exchange. The DMA account is similar to ECN models, which involves the lowest spread and a fixed commission per trade. The average Darwinex spreads are quoted at less than 0.45 pips, while the commissions start from $5 per round trip.
Traders have access to different FX currency pairs, commodities, indices, and shares, and can invest in any financial assets using a maximum Darwinex leverage of 1:200. The minimum deposit amount for opening an account at Darwinex is $500. Therefore, the relatively smaller leverage and a comparatively higher deposit amount clearly state the company’s intent on avoiding high-risk traders or scalpers. On the other hand, $500 is considered to be a small price to pay, especially considering the several advantages that the broker has to offer. If a trader has a successful trading strategy, a simple $500 initial deposit can work wonders for his trading career. This is where a managed account at Darwinex comes into prominence.
If you are not feeling confident about your trading performance, or if you are looking for an excellent tool to invest your money, you can choose a Darwinex managed account or the social trading account, which allows you to invest in a managed fund. The broker has invested in a great analytics & diagnostics tool that carefully analyzes the trading behavior of their existing clients to find out the best traders who have a successful track record in trading the financial markets over an extended period. These successful traders are then rewarded with an opportunity to manage funds for large investors, or trade funds from other traders, including a monthly prize fund offered by Darwinex. These traders, or Darwins (Internal code for traders), stand a chance to earn 20% of all profits made from the managed accounts, which can be quite a hefty amount, considering that the fund provided by Darwinex to its prized traders alone is worth $6 Million.
Is Darwinex Regulated & A Genuine Forex Broker?
Darwinex regulation is taken care of by the FCA, as the broker has based its entire operation in the UK. Darwinex is a London-based investment firm that offers financial products as well as fund management services to clients from all over the world except the US. Similar to all member firms that are regulated under the FCA guidelines, Darwinex is supported by the FSCS scheme that protects clients against broker insolvency or liquidation of the parent company. The FSCS scheme also offers protection against liquidation of banks or other financial institutions that deal directly with Darwinex, as FCA stipulates all brokers to hold their client funds in segregated accounts and be audited on a monthly basis. Therefore, there is no chance that a client’s fund will be misused by the company, which guarantees absolute safety and security of funds.
Does The Company Offer A Dedicated Darwinex Trading Platform?
The broker does not provide any proprietary Darwinex platform, as all trading activities are carried out through the MT4 terminal. There is only a single type of trading account offered by the company; hence, traders can use their global account login parameters on the MT4 mobile apps designed for iOS and Android, which should be sufficient for traders looking for a pure Darwinex mobile trading experience.
Investors are provided access to an online DarwinIA interface where they can track their investments and keep a record of all the profits and losses that are associated with their investments. However, unlike other social trading platforms, investors cannot access the trades performed by the Darwins. This is done to protect the intellectual rights of Darwins by preserving their trading strategies. A closed book managed fund will not only prevent investors from copying other’s trades but can also ensure that successful traders will earn their rightful due of 20% share from successful trades.
Are There Any Reward Programs?
Traders should not expect any Darwinex bonus on their initial deposits; instead, the rewards programs are offered either as the ability to manage a fund or as a reduction in commissions and fees upon reaching certain trading intervals. In our opinion, the lack of a bonus should not be considered as a disadvantage, as the company certainly offers some excellent benefits that cannot be found elsewhere in the Forex industry.
Darwinex has been receiving positive accolades from several parts of the market, and all clients that open an account with the company has positive things to say about the broker. It’s hard to find faults with Darwinex, and we expect the company to keep up its good form for many years to come.
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