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Alternatives to Darwinex

So you’ve got to provide invoices to FTMO once you start to get paid. That is EXACTLY what I need, a cover like a work contract. Darwinex doesn’t request any such thing to receive perf fees ? I guess not, haven’t heard of it. How our the “perf fees“ labelled on their statement ? Which accounting trace does it leave ?
I will definitely participate at EnFoid / FTMO this year, as a priority in front of Darwinex
 
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cTrader is available everywhere .....but not at Darwinex 🙄Darwinex never listened to feedback on platforms 😬 too bad for them

 
Viro Major said:
I will definitely participate at EnFoid / FTMO this year, in priority in front of Darwinex
Click to expand...
Yeah. But, I think you should join Darwinex as soon as possible, since a lot of things should be shown down to gain some performance fee from it. ^^
 
TrungLN said:
Yeah. But, I think you should join Darwinex as soon as possible, since a lot of things should be shown down to gain some performance fee from it. ^^
Click to expand...

I think there’s time to grow some grey hairs before touching worthy perf fees at Darwinex. The constraints there suit my trading style the least
 
Viro Major said:
If you need a money manager licence, it is in the country / jurisdiction you are established that counts, not where your technical solution operates. Your obligations are with the local regulator and with the regulator countries of your clients too. If you work it around without, by hiding the activities in an offshore setup, you’re still an outlaw. Here, Darwinex & FT give you the edge, unless you do things right but it’s too much hassle.

I had serious issues with ActivTrades, GFT (Gain Capital) and LMAX. All were regulated in the UK and it didn’t change the fact they acted in unfair ways or were ashamed about it. Any broker, even with a good reputation, can fail you. None are operating on stable and ethical grounds entirely, no matter how their speech makes you believe otherwise.
I also had many technical failures with future brokers in the US. That was not commenting they were unfair, just incompetent this time.

FT provide unfavourable odds, I’m ready to agree. The conditions are flawed. Yet, it doesn’t mean you cannot beat them and derive profits. Personally I’m not classifying solutions on a podium by ranking them. I just try to understand what are their pros and cons and how to work around them. I’m conscious that by using FT, I’m in the position of a prey, but my reach it to outsmart them, outplay their rules and through my skills. Never said it was easy, but there is some potential with good R:R ratio imho. The financial risk appears to be quite low, just like it is low with Darwinex. By HODLing, if you bet on the wrong horses, the damage will be higher.

Yep, HODL is one of the many new terms that have been popularised within the crypto space :) it’s slang for HOLD lol
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View attachment 294398
Click to expand...
What happened with ActivTrades? I know the people that created their technical systems and RM and a few people that are still working there?
They are Hybrid model but with B book priority 90+% of the volume stays inside the broker. I have had issues with the slippage but very rarely. I am using them since 2014. They have very stupid rules for deleting account history every 1-2 years so you can`t build a track record with them. I don`t trust them fully, but they are one of the best brokers I have used.

With HODL I was trying to be funny, but actually there is some logic. Trading is negative sum game, in order to win you have to beat the spreads, which is your negative expectancy. Your system need to have positive expectancy at least a few times bigger than the spreads. Every trade is making your task more difficult. Most of the traders 90% are trading randomly without even realizing it they lose faster because of a bad MM if they trade with conservative MM they will lose gradually because you can`t beat the spreads with random trades especially with a lot of trades. But if you pay the spread only ones, there is close to 50/50 chance or more if you buy assets that tend to have upward trends.
 
OneOfTheOne said:
But if you pay the spread only ones, there is close to 50/50 chance or more if you buy assets that tend to have upward trends.
Click to expand...
Not really!
I think in point of view of statistics, it does not make sense.
How about your bought asset tend to have down trend? Still hold to die?
Since to avoid the spread/commission, you try to do less trades. So, the result is also random.
The boundary between "stubborn" and "patience" is very thin.
 
The failure I experienced with ActivTrades happened on futures a long time ago, before they provided CFD-Forex
They let my account hold ghost positions that my platform would not display. Despite my expressed doubts during 1 week, they weren’t able to check my positions correctly and let my balance drop in negative territory for many thousands, which is normally technically impossible due to exchange and broker margins.
I signed an agreement to not reveal this failure during many years after they agreed to refund me only 50% of my losses. Scary and worrying incompetency if you ask me
 
Viro Major said:
The failure I experienced with ActivTrades happened on futures a long time ago, before they provided CFD-Forex
They let my account hold ghost positions that my platform would not display. Despite my expressed doubts during 1 week, they weren’t able to check my positions correctly and let my balance drop in negative territory for many thousands, which is normally technically impossible due to exchange and broker margins.
I signed an agreement to not reveal this failure during many years after they agreed to refund me only 50% of my losses. Scary and worrying incompetency if you ask me
Click to expand...

This was technical issue, It can happened to everyone, from time to time. The important thing is how often and how will they fix it, if it was me, I would demand more than 50%. I don`t think you can make conclusion based on single events long time ago. I am not defending them I monitor closely the execution in every broker that I am using and I assume that every one of them will try to do something against my interest . For example last week I had 6$ slippage on Gold in Darwinex on one of my trades
Here is their answer
"
Thanks for your message, I am sorry to hear you experienced slippage in your trade.


Kindly note that your trade was filled with slippage because of market volatility when your trade was executed. Below you can find a screenshot of the candle on the MT4 chart at 10:00 MT4 server time, which is precisely when your order was filled.

Going forward, I would recommend reviewing a news calendar to avoid wide spreads during news releases (e.g. https://www.fxstreet.com/economic-calendar).


I know you are an experienced trader, but still I hope this article and / or this webinar prove helpful to understand why slippage takes place in OTC markets and what traders can do to avoid it.


I am very sorry we could not be of further assistance this time. "
 
CavaliereVerde said:
@OneOfTheOne
Is it this?
->https://pamm.fxprimus.com/en/PAMMAccountsRating
Trackrecords are pretty a shit, nothing decent beyond 700 days of lenght, much worse than Darwinex or Alpari.
If you were an investor which PAMM would you explore?
Is there anything bigger than Alpari?
Click to expand...
Yes this one.
I am not an investor I am a trader. I would not trust anybody else to manage my money although I have seen very good strategy curves on Darwinex. The question is also how real are they, since they have changed RM and VAR several times.
 
OneOfTheOne said:
The question is also how real are they, since they have changed RM and VAR several times.
Click to expand...
I agree but when you have a native (non migrated) profitable trackrecord of 3-5 years it is still profitable and long, no matter the changes in var and RM.

Even if we consider only the point of view of the traders, pro traders are smart money that goes to the best place.
If a pro works with a broker it means the broker is honest and has a good technology.
AFAIK there are several traders working both with Darwinex and AlpariPAMM .
 
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@Viro Major @itstradingtime : I just found this thread of an awesome trader who aims and demonstates to get fund of all FTMO, Enfoid and AxiSelect, MyForexFund. . He now got 3 account 100k $ of FTMO, 1 account 200k $ of MyForexFund and 100k aud of AxiSelect.
It's very interesting and inspiring


This is a very intensive tip from him for dealing with the challenges.
I was asked how do I go about tackling the 10% challenge on another thread. Plus, personally got some PMs about it. So, I will post my thoughts here so it’s all in one place.

Firstly, the challenge of getting 10% in about 20 trading days is tough - really tough no doubt about it. Very, very few (if any) can consistently get 10% each calendar month unless you are an elite super trader. I am not one of them. Sure, I have had 10%+ months but you can’t rely on them and certainly don’t know at the outset of the month what the final return will be.

But I do have a reasonably level of consistency in my trading each month to know that 5%+ months come along reasonably regularly. In my personal account for October just finished I hit 5.96% for example – a reasonable month for me and I’d be very happy to get that each month. If you have $600k in funded accounts that would amount to a pay-out of around $25k - I can live off that
1f600.png
But of course you have to get those funded accounts in the first place to be in a position to earn those returns. That is what inspires me to commit to the journey I am documenting here. The point I am making here is that you only must get the 10% for the challenge. After that you can trade as you would normally and make fantastic money.

So how do you go about it, knowing that from the outset, hitting 10% is unlikely? Here’s my thoughts on the matter and how I tackle it for my trading style. You’ll possibly have to adapt it to fit in with how you trade.

First a bit of context – I trade typically from 2-5 trades a day, averaging just over 3 a day. I trade every day of the week in a normal week.

In my challenge account I will risk a fixed 1% per trade of the original starting balance. So max loss $1,000 per trade on a $100k challenge account. Before I enter a trade I need to see the potential for at least a 1.5 R trade. (ie. profit of $1,500). That is the absolute minimum and ideally it will be a lot more. But I never ever set a take profit level (TP) on my trades – I monitor the trades when it trades at my predetermined target levels so see how they price action is going. If it is stalling I will exit for a profit, but if it looks as though it could go further I will move stops to break even and revaluate later and repeat if stops should be moved to lock in profits. (Tip - by not having a TP, the advantage is that if there is a price shock in your favour and you get an extreme move you can close out for big profits which you would miss by having a TP set. Tilts the odds more in your favour I have found over the years).

Now as I have said before, it is unlikely you hit 10% in a month. Not impossible but unlikely. But hopefully I can be going into the last week of trading with a reasonable profit (the higher the better). That is reasonable expectation for me, and I would hope for most traders who are attempting the challenge. You need to show consistency in been profitable to even attempt the challenge in the first place. Thus what I start to do in the last days I get more aggressive by increasing the risk per trade to say 2% (could be even more the closer I get if I am running out of time). The key thing here to remember is whatever you do, do not risk too much that your profits turn negative. That is the determining factor in how much you can increase the risk to. As long as you are positive for the challenge you get a free shot next month.

The key thing to think about is that is pointless having a 8% winning month on the challenge and say look how good I did, I was very close to passing. Close gets you nothing! End result is it is exactly the same as someone earning $1 of profit. Both are positive so you get a free go. So use the money you have built up to really have a go at it, in the last week. Say I am say sat 6% going into my last day. I could decide to risk 4% on the next trade as an extreme. I only need a 1 R trade to earn the 4% needed to push me over the 10% target. More likely though, knowing that I trade typically 3 times a day. First trade of the day I could risk 2% - if I get a 2R trade it earns me the 4%, again I have hit the 10% target. If I fail, my account still sits at 4%. So next trade I could risk 3% knowing a 2R trade will still get me the now 6% extra I need to take the account to 10%. If I fail my account still sits at 1%, still well in profit to get the free challenge next month.

Of course, all the above is only possible if you can trade well, build a buffer of profits up and go for it in the last day(s) of the challenge. If it fails, do the same the following month with the free go. Repeat until you pass. Hope the above makes sense. It’s using a controlled aggressive risk approach playing with the profits and knowing in the challenge earning $9,999 is treated the same as winning $1. Both fall short, and both give you a free retry. Use that basic math to your advantage.




For others who think props firms are only for naive and inexperienced traders, please ingore this!
 
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yeah, thx for sharing, that’s what I had in mind anyway, and I already use a close process for my own trading ...in the spirit
but a lot more tighter stoplosses (1% is fucking loose) so I guess it leaves me some margin room for these contests

I’m stopping the distraction of investing. Will focus on trading only ...and less talking which has zero value except when gathering new factual info. The rest is brain wanking
 
TrungLN said:
@Viro Major @itstradingtime : I just found this thread of an awesome trader who aims and demonstates to get fund of all FTMO, Enfoid and AxiSelect, MyForexFund. . He now got 3 account 100k $ of FTMO, 1 account 200k $ of MyForexFund and 100k aud of AxiSelect.
It's very interesting and inspiring


This is a very intensive tip from him for dealing with the challenges.
I was asked how do I go about tackling the 10% challenge on another thread. Plus, personally got some PMs about it. So, I will post my thoughts here so it’s all in one place.

Firstly, the challenge of getting 10% in about 20 trading days is tough - really tough no doubt about it. Very, very few (if any) can consistently get 10% each calendar month unless you are an elite super trader. I am not one of them. Sure, I have had 10%+ months but you can’t rely on them and certainly don’t know at the outset of the month what the final return will be.

But I do have a reasonably level of consistency in my trading each month to know that 5%+ months come along reasonably regularly. In my personal account for October just finished I hit 5.96% for example – a reasonable month for me and I’d be very happy to get that each month. If you have $600k in funded accounts that would amount to a pay-out of around $25k - I can live off that
1f600.png
But of course you have to get those funded accounts in the first place to be in a position to earn those returns. That is what inspires me to commit to the journey I am documenting here. The point I am making here is that you only must get the 10% for the challenge. After that you can trade as you would normally and make fantastic money.

So how do you go about it, knowing that from the outset, hitting 10% is unlikely? Here’s my thoughts on the matter and how I tackle it for my trading style. You’ll possibly have to adapt it to fit in with how you trade.

First a bit of context – I trade typically from 2-5 trades a day, averaging just over 3 a day. I trade every day of the week in a normal week.

In my challenge account I will risk a fixed 1% per trade of the original starting balance. So max loss $1,000 per trade on a $100k challenge account. Before I enter a trade I need to see the potential for at least a 1.5 R trade. (ie. profit of $1,500). That is the absolute minimum and ideally it will be a lot more. But I never ever set a take profit level (TP) on my trades – I monitor the trades when it trades at my predetermined target levels so see how they price action is going. If it is stalling I will exit for a profit, but if it looks as though it could go further I will move stops to break even and revaluate later and repeat if stops should be moved to lock in profits. (Tip - by not having a TP, the advantage is that if there is a price shock in your favour and you get an extreme move you can close out for big profits which you would miss by having a TP set. Tilts the odds more in your favour I have found over the years).

Now as I have said before, it is unlikely you hit 10% in a month. Not impossible but unlikely. But hopefully I can be going into the last week of trading with a reasonable profit (the higher the better). That is reasonable expectation for me, and I would hope for most traders who are attempting the challenge. You need to show consistency in been profitable to even attempt the challenge in the first place. Thus what I start to do in the last days I get more aggressive by increasing the risk per trade to say 2% (could be even more the closer I get if I am running out of time). The key thing here to remember is whatever you do, do not risk too much that your profits turn negative. That is the determining factor in how much you can increase the risk to. As long as you are positive for the challenge you get a free shot next month.

The key thing to think about is that is pointless having a 8% winning month on the challenge and say look how good I did, I was very close to passing. Close gets you nothing! End result is it is exactly the same as someone earning $1 of profit. Both are positive so you get a free go. So use the money you have built up to really have a go at it, in the last week. Say I am say sat 6% going into my last day. I could decide to risk 4% on the next trade as an extreme. I only need a 1 R trade to earn the 4% needed to push me over the 10% target. More likely though, knowing that I trade typically 3 times a day. First trade of the day I could risk 2% - if I get a 2R trade it earns me the 4%, again I have hit the 10% target. If I fail, my account still sits at 4%. So next trade I could risk 3% knowing a 2R trade will still get me the now 6% extra I need to take the account to 10%. If I fail my account still sits at 1%, still well in profit to get the free challenge next month.

Of course, all the above is only possible if you can trade well, build a buffer of profits up and go for it in the last day(s) of the challenge. If it fails, do the same the following month with the free go. Repeat until you pass. Hope the above makes sense. It’s using a controlled aggressive risk approach playing with the profits and knowing in the challenge earning $9,999 is treated the same as winning $1. Both fall short, and both give you a free retry. Use that basic math to your advantage.




For others who think props firms are only for naive and inexperienced traders, please ingore this!
Click to expand...
Thanks for sharing. Looks like this trader and I have a completely different approach to the challenge :)
 
So, there’s a big catch, the scaling up is clearly limited by a hoax. The FTs don’t reevaluate the daily stop limit in % relative proportions if the account size grows, but maintain it instead in monetary amount based on the debuting equity start purchased.

Let‘s take an example.
80k equity increased to 160k, the daily stop loss limit will stay at 4k and not increase to 8k
In other words, the leverage you can use will always hit a low ceiling, even if you grow the account towards 2 millions (very unlikely) at EnFoid or FTMO
So clearly, it’s an indicator they absolutely are not eager to help you to derive exponential profits. This fixed rule alone testifies they want you out of the program the soonest possible. The account growth can not be “utilised” in reality, or the risk would get increasing dangerous and impossible in difficulty (daily drawdown would lower from 5% to 2.5% in our exemple)

However, at standard cumulative account sizes, with maxDD at -20% with FTMO (aggressive) or EnFoid (more costly for the same value), I guess close to 100k profits per year could be approached with some competency, so it’s still worth it, without dreaming at the moon and understanding these FT programs have limitations and don’t want to support any kind of career even if you demonstrate talent.
 
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