The brokers website has a vast frequently asked question (FAQ) section that covers many questions related to accounts, platforms and trading. There is an active online community forum where clients share trading ideas and knowledge. I found there to be plenty of helpful information and learnt a few new things whilst browsing around. MT4 is one of the most widely used trading platforms by traders across the globe. It comes in multiple languages and is known for its intuitive user interface that makes it a popular choice for novice and advanced traders. They use a proprietary liquidity aggregation engine to evaluate the market conditions and direct the trade flow to the best liquidity provider at any point in time.
- There was no live chat option, limiting the ability to interact with a customer service representative online.
- However, the broker’s absence from the US market due to regulatory issues is a drawback.
- Instead, it works with Interactive Brokers in the US to access the American financial market.
How to open a Darwinex Account
Founded in 2012, Darwinex is a London based regulated online brokerage that enables you to trade the markets yourself and invest in the strategies of other traders. They give you access to user-friendly platforms for trading a good range of more than 300+ assets with institutional-grade pricing, FIX API solutions and free historical tick data. I found them to have a very competitive trading environment, including tight spreads, low fees and rapid trade execution speeds.
Markets and Products
Most brokers charge a fixed fee on withdrawals instead of passing on the merchant fees to their clients. The account is known as the standard account and is offered on the MetaTrader 4 and MetaTrader 5 platforms. We executed 3 trades for each instrument to get an accurate estimate of the average spread. We tested Darwinex’s MT5 Standard CFD and stock accounts, which charges a spread and commission on all instruments. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency. For retail clients, a minimum initial deposit of 500 GBP/EUR/USD applies, and for corporate clients the minimum is 10,000 GBP/EUR/USD.
Is Darwinex Regulated?
All clients’ funds are held in segregated accounts maintained at tier 1 banks of the UK, which virtually eliminates any risk to the trader. Such a program offers a great incentive for traders to increase their AUM while also helping them earn a significant sum of money through their trading activities. However, the DarwinIA program is highly selective and imposes several strict trading conditions, where the company constantly monitors the trading performance, D-score, and risk perception. Suppose a trader deviates from the norm or indulges in high-risk trading activities.
Does Darwinex offer any rebates?
The third funding option is through Trustly, which allows traders to deposit funds up to $10,000 without any fees, and the funds are credited to the trading account within 1 business day. Trustly bank transfers are preferable https://traderoom.info/darwinex-overview/ to a bank wire if your deposit amount is less than $10,000. This review will explore our experience testing the services offered by Darwinex, providing our opinion on the trading platforms available, fees, assets, and more.
A copy of the client’s ID and one proof-of-residency documents usually satisfies required AML/KYC stipulations. Funds must be transferred in the same currency as the bank account which they are sending it to. Should this not be done, traders may be subjected to currency conversion fees. When compared with other brokers, the minimum deposit that Darwinex requires when registering a live account is not too high and an amount that most traders can deal with. Advanced traders and developers can make use of the API connectivity offered by Darwinex to integrate with third-party platforms and implement their own algorithms, while accessing market data in real-time. These auxiliary libraries include Zorro to MetaTrader and ZeroMQ to MetaTrader bridging solutions.
DARWIN orders enjoy wholesale brokerage fees in all our FOREX assets – up to 60% cheaper than the commission retail traders pay in such assets-. Most brokers provide research tools to assist traders with researching the markets they are interested in, helping to make informed trading decisions while minimizing the risks involved. A great support system that is readily available is important for any trader, as it could help make important trading decisions at minimal risks. The company’s professional support team offers assistance in several languages, including English, French, Chinese, and Spanish. Darwinex is a bit of an anomaly when it comes to brokers, because it is not only a brokerage, but it is also a social trading platform. There is only one account type itself, the standard account which simplifies things, and gives you the ability to either trade as per usual or follow others.
We will also cover how to open an investor account and get started with the brand. Only users who have passed the application process are able to open live trading accounts, live investor accounts and list DARWINs. This is the stage where you compete with other elite managers in order to access investor capital.
The broker is regulated by the top-tier UK Financial Conduct Authority (FCA), which has strict rules and enforcement procedures. FIX protocol provides the framework for straight through processing (STP) and connections between a wide range of counter-parties. It is vendor neutral with flexible and standardized exchange transactions between parties. Standardized fields of data serve as the building blocks of all FIX messages, and allow the flow of information from beginning to end in a transaction. The MetaTrader web platform allows you to run MetaTrader directly in your browsers without having to install or run any additional software.
Opening a live trading account can be more time-consuming than creating the master account. Here, you will need to submit your personal information, including contact details, tax information, and preferred account base currency. Moving on to the Financial Solvency form, you will be asked to declare your income information, net worth details, trading history, knowledge of the markets, and other similar information. Since the Darwinex broker acts as a fund manager for regulatory purposes, DARWIN traders need not hold a regulatory license or clearance for providing their services. The company acts as a fund manager by allocating funds and choosing strategies on investors’ behalf. DARWIN traders are free to exercise total control over their strategies and trade without any restrictions.
Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information. Please note that professional customers are no longer eligible for the FSCS. If you are just starting your trading journey and are not yet ready to risk your money, a Darwinex demo account option is available as well. Here, you can practice and learn in a risk-free environment with virtual funds used for simulated trading. Pair this with negative balance protection and the segregation of investor and client money, and Darwin easily ranks among the most customer-friendly and secure trading platforms we’ve reviewed so far.
Charges by our bank may apply in case of USD deposits by bank wire below 2,000 USD. The minimum amount for subsequent deposits is 100 EUR/USD/GBP, except by bank wire where the minimum deposit is always 500 EUR / USD / GBP. Funding is available via bank transfer, credit/debit cards and e-payment services such as Trustly and Skrill. However, traders should take note that fees from financial institutions may apply.
This ensures no customer’s funds can be misused and guarantees total safety and security of funds. The Financial Services Compensation Scheme (FSCS) protect customers’ funds https://traderoom.info/ in the unlikely event of company insolvency or liquidation. Darwinex does not offer support via live chat, which is inconvenient when one needs a quick reply to a query.
These are designed to ensure that you don’t have a conflict of interest while trading the financial markets with a Darwinex broker account. Traders must apply for a master account through the Darwinex broker platform, where they can choose between an individual account and a corporate account. Clients are taken through an elaborate signup procedure that requires detailed personal, residential, and financial information. Once the application form is complete, the broker assigns a unique username to each client. Every business day (M-F) 1.2% / 261 is charged on the equity (invested + PnL without performance fees).
We have over 20 years of experience when it comes to trading online so we know what to look for. If you are a beginner, there is the Darwinex online training school that was created to share their knowledge with traders to help them improve their trading education and skills. You are able to develop, back test and trade your strategies in the Lite-C programming language. Zorro has a bridge plugin for MT4 & MT5 so that you can control MetaTrader directly from your Zorro trading strategies written in Lite-C, without any knowledge of MQL required. This is an excellent tool for those of you who want to combine your coding skills with your trading strategies. Users of the Zorro trading platform can also connect to and trade at Darwinex via Zorro’s MT4 & MT5 Bridge solutions.