Darwinex is a reputable financial exchange dedicated to helping traders build a solid financial portfolio through its social and copy trading features. Its product range has over 300 assets, including FX, US stocks, commodities, indices, and cryptocurrencies. It has a solid client base from over 80 countries, registering 3,000+ clients. Generally, Darwinex is best for traders looking for long-term investment as they gradually build their portfolios.
Pros
- Social and copy trading
- Low trading costs
- Strict FCA regulation
- Free historical data
Cons
- Limited research and educational tools
- The minimum deposit is relatively high, from $500
- 20% performance fee on profits from copy trades
Darwinex was established in March 2012 as Tradeslide Trading Tech Ltd., with an ambitious vision to help traders develop their skills and become successful. Having penetrated over 80 countries globally, Darwinex has experienced triple revenue growth over the years as more investors sign up to the broker.
It has worked strictly under FCA authorization and supervision since 2014. These regulations dictate client fund segregation and account balance protection in case of company insolvency.
The broker offers over 300 financial assets and an innovative web platform for efficient social-copy trading. It also supports different trading techniques like algo-trading and scalping, with spreads as low as 0 pips and commissions of £3 per trade.
Regulation
The broker adheres to strict Financial Conduct Authority (FCA) regulations and is registered under license number 586466. It also holds a membership position with the Financial Services Compensation Scheme (FSCS) which protects an investor’s funds, covering up to £85,000 if the company dissolves.
Darwinex complies with MiFID guidelines, ensuring that the broker is secure and transparent in their clients’ services.
Account Types
Darwinex offers three account types:
- Standard account
- Stock & futures account
- Professional account
It also has a free demo account, a simulation of the live account, for experimental trading. You can opt to open a demo account first and use it to know the broker and test the platforms.
Darwinex standard account
A standard account can either be an individual, a joint, or a corporate. Most broker’s clients hold a standard account because of its fairly low minimum deposit amount compared to other account types. Corporate accounts are opened and run by companies, and their minimum deposit is $10,000.
Standard accounts have the following features.
- Trading platforms – MT4, MT5, FXI API
- Market products available – 300+ assets
- Minimum spread – 0 pips
- Maximum leverage – 200:1
- Minimum deposit – $500
- Social-copy trading – yes
- Base currencies – EUR, GBP, USD
Darwinex stock & futures accounts
Darwinex offers special accounts for traders focused on trading stocks and futures.
These accounts include:
- A Classic account
- Stocks Darwin account
- Futures Darwin account
The minimum deposit for any stock and futures account is $10,000, which is a good amount for talented traders to make huge profits in a short period. These accounts are supported on Web, Desktop, Mobile, Ninja Trader, Zorro IB Bridge, MultiCharts, and API trading platforms.
Traders experience state-of-the-art charting, real-time news streaming, and live quoting, with 100+ order types and Algos.
Darwinex professional account
Professional clients enjoy advantages like having a stalwart account manager and generous monthly rebates based on the traded volume.
To become a professional-client on Darwinex, a client must meet a prescribed criterion.
- You must have traded with a considerable amount in a related market, at an average of 10/quarter over four quarters traded previously.
- Your financial portfolio (cash, savings accounts, shares, options, investments) must exceed £500,000.
- You have worked or are working in an economic sector, holding a professional position that requires you to make investment decisions for over a year.
How to open a Darwinex account
Step 1. Choose whether you’re opening an individual account or a corporate account.
Step 2. If you want to open a joint account, you’ll select ‘individual’ on the account type and then enter all the account holders’ details in the name sections.
Step 3. Require you to fill in two questionnaires with your data and financial status.
Step 4. Upload the specified documents and wait for approval.
Step 5. If you want to open a stock and futures account, you’ll be required to complete a W8-BEN form and fund your account with $10,000 (or a similar amount in your account’s base current).
Fees and Commissions
Darwinex charges various costs when trading on their platform. Trading fees can be categorized as spread, execution commission, roll-over, and re-quotes.
- Spread
Darwinex charges very tight spreads, as low as 0 pips on a financial asset.
- Executive commission
FX & commodities incur a gross commission of 0.005% of the amount traded in the account’s base currency. Other financial assets like indices and stocks incur a charge that varies depending on the asset sold.
- Roll-over fees
It’s charged on all positions running overnight. Darwinex does not offer swap-free accounts for Muslims.
- Re-quotes
This happens when the market is highly volatile, and the broker cannot execute the order at the quoted price. In this case, a broker requires the price to be the nearest price available. Darwinex does not offer re-quotes.
Other fees are:
- Deposit fees – 0.5% commission fee on e-wallets
- Withdrawal fees – 1% on the withdrawn amount
- Inactivity fee – none
Payment options
Deposit
Darwinex accepts the following deposit methods:
- Bank transfer
Deposit a minimum of $500, with no limit to a maximum amount. No commissions are charged, and the amount reflects in your Darwinex account in 1-3 business days.
- Cards (VISA and MasterCard)
You can only deposit up to $20,000, and the payment reflects in your trading account immediately.
- Trustly and Union Pay
The maximum deposit is $10,000, and the payment is processed within a day. Trustly and Union Pay are only available to select countries.
- Skrill
The maximum deposit is $5,000, but a 0.5% commission fee applies to the deposit amount. Payment is processed immediately.
Withdrawal
Withdrawals are processed through the same deposit methods; bank transfer, cards, Trustly, Union Pay, and Skrill. All withdrawal requests are processed in 1-3 working days.
A conversion fee may apply where your bank’s currency is different from your Darwinex account’s base currency.
Available Markets
On Darwinex, you can trade all US Stocks, CFDs, FX, 60+ futures, and DARWIN assets.
- Forex
Trade 40+ major and minor currency pairs with the tightest spreads
- Indices
There are ten popular Indices on Darwinex, including the SPX500 and UK100
- Commodities
Darwinex offers four commodities in its market; gold, silver, natural gas, and US crude oil. These four are paired with the US Dollar
- US Stock
These include all the NYSE and NASDAQ registered stocks
- DARWIN assets
Traders can build a DARWINs portfolio using over 2,000 alpha strategies on the Darwinex platform
Trading Platforms
Darwinex offers multiple trading platforms for cost-effective trading. They include:
- Client Portal – Web Trader
- MT4
- MT5
- Trader WorkStation (TWS)
- FIX
- Ninja Trader
- MultiCharts
- Zorro IB Bridge
- IB Gateway
The Web Trader is Darwinex’s proprietary trading platform. It’s accessible on the web, with an intuitive and user-friendly interface. It’s an ideal platform for first-timers on the site and traders who want to test out trading robots and new strategies.
The powerful MetaTrader 4&5 has superior features, including indicators, market depth with over 20-time frames, pending orders, and customizability for top-grade functionality and profitable trading. The platforms are accessible in web, desktop, and mobile versions across supporting devices.
The TWS, FIX API, NinjaTrader, MultiCharts, Zorro IB Bridge, and IB Gateway are available in the Stocks and Futures accounts.
They have features like:
- A customizable workspace
- One-click order execution
- Market scanning tools
- Portfolio analysis
- Live quoting
- State-of-the-art charting
Features
Darwinex has several unique features, which help traders meet their trading goals. They include:
- Hall of fame
It showcases the highest-earning traders through the DARWIN assets. The earnings are in terms of performance fees.
- Darwinex ideas
It provides traders with ideas and product news, especially on DARWIN assets.
- Community forum
It’s a social trading section where investors can interact and share ideas. It’s a major feature as Darwinex is a social trading platform.
- Copy-trading
Successful traders lead the way and allow amateur traders to copy from them and make profits from the highly volatile markets.
- Economic Calendar
The detailed economic calendar keeps track of all the events happening globally, affecting the market conditions. Keeping track of the economic calendar lets you know when it’s best to trade and amass huge profits.
Education
Darwinex has few educational resources, which mainly guide traders on algorithmic trading and account management. These resources include videos, articles, and blogs.
The high-quality videos are easy to follow through, and they help traders follow steps realistically, especially on algorithmic trading. The articles are written in detail on several topics, including account portfolio management, Darwinia capital allocation, and the broker in general.
The blog has archived content and other news on market products. You can also find information on the DARWIN and its experimental stages.
The demo account comes in handy for new traders to practice and try out the platform. The demo account is built on the MT4 and MT5 platforms for a total market experience with the most powerful trading features.
Customer Support
You can access the support team via email or phone. Darwinex has no provision for a live chat, so you can send in your issue through an emergency form provided on the website if you have an emergency.
The phone service may get connected, though, in a few minutes, and you’ll get answers to your questions. If you decide to send an email, you may wait for at least a day or two to get a reply.
The extensive FAQ section might have an answer to your queries. Why not check it out first? If you don’t find a relevant answer, you can contact the support team and get the help you need.
Review Summary
Darwinex is a renowned social-copy trader exchange with powerful trading platforms for a fulfilling trading experience. Traders can share ideas, copy and participate in trading content and challenges to win real prizes.
On the downside, minimum deposits are relatively high and may not be too friendly for small traders who want to invest little and grow their portfolio from there. It also has few research tools, which limits a client’s productivity.
