Alternatives to Darwinex

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TrainerTXR

Junior member
43 73
Thinking about giving AxiSelect/Psyquation a try.
Any experiences here ?

I guess the stealt the idea from Darwinex, but conditions seem to be fair.
Apart from being a real good and reputable broker they offer up to 350k AUD
funding for just investing 2x 1000 AUD on the way to PRO status.

Compared to Darwinia :
There you need an account of about 5k EUR , a D-Score of >80 and 1-2 % performance each month to be in the Top 25 of darwinia and getting ~100k for 6 month - max 500k (if you manage to score each month)

Yes okay, I did it the last 5 of 5 month - but its not that easy as with Axi (in theory).

There you import a good track record. Then open 1000 AUD account (+get 10k) trade 2 month profitable (5! trades only?) - add another 1000 AUD (+get 10k) again trade profitable for 2 month and after that qualification you got PRO access and 50k (forever!) just for reaching 0.5% in a month ? Up to 350k ?
Sounds to easy to be true ..

Any guesses ???
 
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TrungLN

Active member
227 328
Thinking about giving AxiSelect/Psyquation a try.
Any experiences here ?
With your profitable strategy, I think you can make money without caring about other fund like Darwinex or Axiselect.
If you want to make more money or make faster, just join some prop firms. Ex: myforexfunds has policy same same Darwinex. 15% performance fee. With just 949$ for 100k$ account (Up to 300k$ at max). No challeges, no verification. Trade whatever you want. Just FYI.
 
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TrainerTXR

Junior member
43 73
With your profitable strategy, I think you can make money without caring about other fund like Darwinex or Axiselect.
Thats what I have done for 15 years - I let participate Famili&Friends but never intended to make it pulic available making rich people even richer. No need at all.
But .... With 2021 in Germany there a new tax law, which forces privat individuals to stop trading, if the total amount of loosing trades exceeds 20k EUR (they call it 'investor/gambler protection' ;-) ).
Klonedike mentioned it already somewhere else as the reason why he stops trading at all.
Its hard to belive - buts thats fact and current law. And as long as the suprime court does not stop this stupid law (which hopefully will happen) its valid.

With this background the remaining solution at the moment is prop trading or legal AuM funding with Darwinia/AXI or emigration at last. I lost my financial freedom :-(
 

TrungLN

Active member
227 328
With this background the remaining solution at the moment is prop trading or legal AuM funding with Darwinia/AXI or emigration at last. I lost my financial freedom :-(
Sorry to hear that law from Germany.
So, possible way now is only
-Darwinex
-AxiSelect/PsyQuation
-Some prop firms (FTMO, Endfoid, Myforexfund, ....)
I think with your profitable strategy, you still have some way to earn money and overcome that law.
FYI! In vietnam, forex trading is illegal and is not protected by the goverment. I also have to deal with this as your case.

Anw, you finally show-up yourself hear because of that law. What an arrangement of destiny!
 
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IlIlIlIlI

Active member
214 194
But .... With 2021 in Germany there a new tax law, which forces privat individuals to stop trading, if the total amount of loosing trades exceeds 20k EUR (they call it 'investor/gambler protection' ;-) ).

I spent more than 1 hour last night to calculate the NEW FINANCIAL TAX for private traders with my small account (less than 2k on the trading account and less than 1 k on the investor account with leverage 3 which makes about 2.5 k investment amount) and my tax report of January 2021.
Result (for this small account!):
Trading Profit152,67 €
Investor profit (trade)59,42 €
Perf. fees (investor)-19,42 €
Mngmt. Fees-1,04 €
Swaps-4,51 €
Sum Profit Trades714,97 €
Sum Loss Trades-502,88 €
Net Profit187,12 €
January wasn't a good month for me, IMO under average, but I want to take it as reference as an increasing account belance would usually result in increasing figures.
If I multiple the sum of losing trades of this month by 12 I burned 6 k out of a maximum of 20 k which is regarded for the tax calculation.

That why I have to trade a very small account at Darwinex and can never get the full benefits of DarwinIA anytime.

Which implies that investors don't find it attractive because they might think I don't trust my strategy or some other nonsense about me without knowing me even a bit.

I like Darwinex, but that's my main reason to look seriously for alternatives which cannot be touched by this crazy law.
 
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IlIlIlIlI

Active member
214 194
Actually, you can take full benefits of DarwinIA with 10k$ deposit and trade with micro lot. (VaR will be very low).
The trading account will grow organically in that direction... :) ..without trading only 1 microlot.
Your idea would also explode the results of my investments in my Darwin.
 
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IlIlIlIlI

Active member
214 194
Today I completed the challenge of the test version of the FTMO challenge (free trial) as expected:
1612956648386.png


1612956351111.png


Of course I didn't trade 1 microlots and added a few losing trades to stop trading for the day when the day was in profit.

Here are the worst results of my trades:
1612956463216.png


And here the best (there were not only scalping trades):
1612956498510.png


If someone is interested in FTMO, I recommend to solve the free trial first. Asset prices are a little different to Darwinex besides both use LMAX.
 
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TrungLN

Active member
227 328
Recently, I found out MyForexFunds prop firm.
A different type comparing with FTMO, the5ers ...
There is no any challenges, evaluation and traders can make money from day 1.
For a long run, go ahead with one time fee plan and no consistent account (949$ fee for 100k account, up to 300k$ at max per trader). Up to 15% profit split monthly (same ratio as Darwinex, but no need to build long track record and Darwinia). 12% max abs DD, 5% daily relative DD. No news, overnight, overweekend restriction. Just, some rules for using EA, copy trade and hedge.
Customers service is good.
Payout commitment is good.
Just short sharing from me. It's really a good choice as alternative for Darwinex. For more details, please check and judge by yourself.
 

CavaliereVerde

Experienced member
1,147 1,526
If you keep only 15% it is more about managing 100k than trading 100k.
It is exctactly like winning 100k allocation with Darwinia.
If Darwinex offered me a deal to pay 1k to be allocated with 100k I would refuse, and you have to consider that Darwinex is honest, I know they pay, I was paid... 😁
There are a lot of dreamers that think to be able to return 30% per year with 10% drawdown, TFs are designed exactly for them.
 

TrungLN

Active member
227 328
The business is that everyone pays the fee while very few make money on the long run.
Yep.
But it's kind of card playing.
Prop firms collect money from participants and pass to winner. Get from loser.
If more lose than winner, they got profit.
If more winner than loser, they might got loss.
But if some how they can manage to get profit for both 2 cases. It's perfect.
MFF seems to be like that. Need to check more.
Since, just ~7% profit (no time limitation for that), traders get back all fee.
There is no harm for a profitable traders at all. @TrainerTXR please consider it for your tax situation.
 
 
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