Hi,
I'm new on this forum though I've been enjoying following you guys, silently on Darwinex forum and now on this one, if you allow me I'll share my 2cents because these late movements on Darwinex seem disturbing to me. BTW I'm a 'new' customer. Two Darwins, the first one since January 2020.
As most of you I suppose, I've been captivated by the Darwinex message. A decent broker, low cost, not the cheapest though, provides its historical data; that by itself proves a lot! And on top of that the Darwin concept where "you get paid to trade" - as they say; highly marketing statement but it's Ok, they have to sell themselves. They provide the legal hedge to get capital from investors doing everything properly done.
However I think they are slipping to some not so appealing lands lately. I won't repeat the bad and the ugly points already mentioned before. Just add something that is probably discussed deeply on another thread - Interactive Brokers integration. From my experience, when two companies with so different sizes "integrate". One swallow the other. It's ALWAYS like that, corporate rules, world spins that way. Also, I've listened both podcasts published on YouTube; Spanish and English. I still don't see why on earth should I open account on Darwinex instead of directly on IB.
Why should I go to Darwinex and not to IB? The Darwin?? That's the only argument.
To me we're simply witnessing a take over between two companies. From our perspective, as traders, that shouldn't be bad, per se. IB is a much more sound broker. But the dream of Darwinex is vanishing somehow.
What I'd like to point out is two things:
1- Communication: They change the rules of the game with the D-Score, the 5% charge on the Darwin paid by the trader. I also noticed by myself that they make interviews with Darwins that some months later fail miserably (most of them). All together proves that they are terrible communicators.
I'm sure they are honests and they don't try to scam anybody, otherwise I'd close out my accounts on Darwinex
2- Egotism. That scares me the most though knowing that IB is behind the scenes eases me up. I'm sure that Juan Colon is a guy made by himself. I've heard several statements of him on different spanish podcasts where he speaks frankly and familiarly where you can see his egotism. I'd bet that they do what they do "por sus cojones" - sorry it's a tipical spanish expression that I don't know how to translate in English. I heard in one of his interviews that he was fed up of some criticism on the Darwinex forum and that he as CEO wouldn't discuss with silly arguments. Shortly after, the forum was announced to be closed - doesn't IB has a forum? I've seen they have some sort of private forum.
Maybe we'll end up over there with time
Anyways, Juan looks like a charismatric guy but also someone with a tremendous ego. This kind of people tend to not getting along with criticism and on stressful situations tend to act impulsively and I'd preffer to put my money on a more proffessional and organized company. So, again, probably we'll win on the future playing with the IB rules.
Looking at the future hopefully we'll win with the best of both brokers but we'll have to give up the original Darwinex premises.