Alternatives to Darwinex

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ASGTrade

Member
66 174
That company has zero real investors and as far as I am concerned they are allocating Demo money to traders.They allow migrations of MT4 accounts from anywhere and their European HQ are in Ukraine.They have no Risk Manager and they use very similar set-up as German competitor of Darwinex called Ayondo which went bankrupt recently.
A screenshot of their Pro traders:
View attachment 290803
Most of these platforms are utter garbage. The worst are those that ask for a sign on fee or monthly subscription..
 

Viro Major

Well-known member
343 267
After Madoff they got MF Global.Where was the money of customers?And entities that you propose are not even in that category (handling customers funds). Imagine how seriously they are audited if ever.

Sorry but that happens in the UK too. There have been precedents that escaped the scrutiny of the FCA, among which a well known one.

 

Viro Major

Well-known member
343 267
At the bottom of the scale considering mainstream access, then Darwinex leads.
But at the above standing, it’s absolutely questionable, until they come up with the Private Label
 

Viro Major

Well-known member
343 267
Other brokers invested their ressources more wisely. In comparison, let’s consider Dukascopy for an instant.
They have developped a state of the art trading platform available on all OS (MT4 still available) they offer a free API (Java) outside of FIX (high condition requirements), instead of complex coding modules dedicated to experts they are maintaining a visual coding assistant for beginners, they offer a swiss multi-currency bank account (with non marked-up balance conversions) and a debit card (like IB) to directly spend the trading profits, they have their own cryptocurrency which allows to benefit in the companies’ success like revenue splits on commissions and liquidity generated by and for the ECN and more, they offer a PAMM solution with 4 different types of flexible fees to de deployed (in the event you’re compliant), they offer custom incentives for external service providers who can then set custom commissions for the acquired clients, their account control panel is the neatest I’ve seen over the years, they offer close personal support with a dedicated account manager for each client and maintain a forum, they offer 2 regulations (EU and swiss) including one that escapes ESMA rules without the need to rely on a pro status, they offer various ongoing contests with prizes also (although the criterias are wrong by pushing contenders to overtrade towards bankrupcy), they run their own media (TV) about economic / financial news.
Overall, money very well spent tactically in the development of tools and services that traders and prospects actually understand easily and care about. In the end, Dukascopy is an ecosystem with satellites taken care of.

On the other hand, Darwinex is a lonesome asteroid floating in space, outside of the Darwin product, a very common standard broker leading a honeypot profile propelled by effortless non-promotional marketing to develop their activity (surely, Dukascopy runs a shady arguable Miss Dukascopy contest, so what, this is smart advertising, since the world essentially revolves around money and sex). They are on a mission of leveraging assets but neglected about developing quite a few brokerage parts. Something that will be partly taken care of with the InteractiveBrokers’ integration but IB also comes with a higher access and lack of flexibility due to their status and sophistication. Darwinex is pursuing a niche quest so I doubt they will ever fix their shortcomings but continue to develop their own advantages, which is fine to take this spot. Out of which, I hope that the promise of the private label will raise the bar of expectations with a unique framework at what they do well (legal copytrading), what for now appears to attain a limited scope and reach.

I discovered that FundSeeder supports not only futures trading but also forex and CFD via Dukascopy or LMAX (and more). This appears as a flexible and viable alternative (without the non-sense of say, other competitors left in the field like Collective2) to expect to be backed at managing OPM (Other People’s Money) beyond the retail investors’ sphere. I will certainly give it a go on the side. But the requirement is to drive a 50k own account, something I can only consider to do at a broker that suits my needs with appropriate tools and services, not that MetaQuotes gimmick with nothing around.


JForex to JForex/MT4/Oanda/Zulu trade copier 😍
 

Viro Major

Well-known member
343 267
To my knowledge, they don’t promote / market 3rd party PAMMs which are meant for private use.

They run their own which is not fantastic but has the merit to be positive (DWEX?) since internally managed, not by a community of external talents (eToro?)

Most importantly, some interesting promises that Darwinex could derive inspiration from:
* Dukascopy will refund all trading commissions in the event their investment program knows a negative trading year (estimated at a probability of 13%), up to reimbursing a maximum of the equivalent amount of all the losses (that is including the trading ones, outside of commissions). Would be nice if Darwins could mimic this policy or make an effort along this line.
* they recommend to stop the bleeding with a SL at -15% (Not remembering what was the corporate guidance for HFD ?)
 
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Viro Major

Well-known member
343 267
(to specify, the LP PAMM above can be leveraged and its intellectual property is protected from bypassing)

On top, they propose Gold accounts. Custodial fees are not free (1%, still lower than management fees...), but it represents savings over high swap fees if you were holding a trading position.
Being long gold already gives a bit of challenge to a many “traders”, right ?

No rocket science, not too many math filters applied, but simple solutions that have a bit of merit about common sense to boot.
 
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Viro Major

Well-known member
343 267
Where is the PAMM list on Dukascopy?

To be honest, I’m not sure why my contribution has deserved a treatment to be sorted as “Alternatives to Darwinex” since Dukascopy is none and now this categorisation makes it look like it is 🤧 Misjudgement ?
 

CavaliereVerde

Established member
678 987
You presented Dukascopy as an alternative to Darwinex.
Than there were mentions about Fundseeder, C2 and Psyquation.
I think the title is appropriate.
 
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Viro Major

Well-known member
343 267
It’s @Gargamel who supposed I did and pushed me to this corner. But I was really trying to make a point about Darwinex and the magnitude of their service which I wish they would expand.
Okay about the rest, because then the title invited it
 

CavaliereVerde

Established member
678 987
@Viro Major
Probably you wanted to continue this kind of discussion... ;)
->https://community.darwinex.com/t/last-final-will-a-more-balanced-darwinex/5744
I agree that Darwinex is not the best as pure broker.
Darwinex is still a forex metatrader broker, 100% CFDs
Dukascopy has much more to offer, lot of cool stuff for traders, it is much older and has a very good reputation.
Unfortunatelly Dukascopy has nothing to offer for wannabe money managers.
 
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Gargamel

Active member
180 349
their service which I wish they would expand.
As I said:I don't know what you want.We are not any more at official forum.They don't want to hear anything from users.They know everything :rolleyes:. Even when there was an official forum they ignored it mostly.Your wishes and proposals are like talking to a wall.Try calling them or send an e-mail and report back how it went :LOL:.
I am here because of some good people so we can brainstorm how to make best use of what is.Discussing about what should be is even more hopeless than it was at the old forum.
This thread will be useful as a post box for alternatives.If one day somebody finds better stuff,we can take our business over there and that is end of story.
By the way,those crooks at google couldn't resist the title of this thread and this forum was temporary for one day on the first page of search results for 'Past month' and fifth page in category 'Past year'. But today they already rectified the mistake.;)
 

Viro Major

Well-known member
343 267
There is another german company specialising in stocks which obtains a lot higher AuM levels and federates professional traders under its wing. I forgot the name sorry so can’t reference it
Originating from Austria, not Switzerland but targeting the german speaking countries mostly.


0C07DBA3-3173-4BBB-8E48-3EA7796A771E.jpeg

Amounts not uncommon (many at 10M+ AuM)
 

Gargamel

Active member
180 349
I looked into Wikifolio a while back and now I have taken another look.It is basically germanic 'Alpari PAMM' jungle.
The setup for investors is a bit iffy,given the German credibility in corporate/financial matters lately and lack of investor's compensation guarantees(at least I didn't find any comparable to UK and Darwinex) and claims of hedging( it could be a bucket shop operation). Anyway it is not available outside Germany,I guess you have to open an account in Germany to invest in wikifolios...
For traders it is an Alpari-style jungle.Traders are pushing as hard as possible to get noticed (plenty of +100% per year,more than 120 investable wikifolios at the moment), with predictable outcome.But new lucky survivors are rising every year to replace unlucky ones on the top of the rankings and provide Holy Grails to investors.
I see no Risk moderation.
Investors are chasing high performers,as usual :LOL: .Only 9 traders with conservative metrics have above 1 Mil. AuM.But later I have found only 6-7(15 max.) credible conservative traders . Out of those 9 invested, majority(6) are lucky or have rich friends and not really conservative with credible track-record.
They have a Management fee like Darwinex.Performance fees are liberalized and left to traders to decide(5-30%).A good feature for investors is that Performance fee is on Yearly HWM,which is understandable given the platform is oriented toward Equity trading/investing.
There are more then 25k wikifolios...8400 are investible at the moment and 6-7(estimate) are conservative as I said earlier.
 
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