Darwinex Review
Darwinex is a fintech online broker and uses cutting-edge technology to provide retail and institutional traders trading services. They emphasize the social component of what they provide through DARWINs managed accounts, which allow traders to invest in other strategies for a performance fee. Overall trading expenses decrease as a result of performance, which encourages responsible trading.
Darwinex is an online CFD broker where you can trade manually, run automated systems or invest in other traders via a dedicated social trading platform. The broker was founded in 2012 and has its headquarters in London, UK. Tradeslide Trading Tech Limited, the parent company of Darwinex, is regulated by the top-tier FCA in the UK. Darwinex has a lot of options in terms of trading platforms and has a vast product portfolio covering the most popular asset classes. I found the broker to have transparent trading conditions with low transaction costs and some excellent trading tools to help with your market analysis. There are also free demo accounts if you want to get a feel for what the broker has to offer before making a financial commitment.
Darwinex has versatile and robust trading platforms for every type of trader. Various payment methods, low trading costs, and strict regulations make Darwinex an industry leading broker worth consideration by anyone who takes their trading seriously. The broker offers many account types for you to choose from with trading conditions that are suitable for retail, professional and institutional traders alike. You can trade on simple platforms for all your devices, get direct market access (DMA) via FIX API and copy other traders via a dedicated social trading platform.
On the other hand, Darwinex isn’t registered with any other regulatory body except FCA and does not accept clients from the US. Educational and research resources are somewhat limited, whilst the minimum deposit requirement of $500 is higher than many of its competitors. In addition, Darwinex does not currently offer swap-free Islamic accounts Muslim traders.
Here are the key takeaways in terms of the advantages and disadvantages of trading with the broker.
Darwinex provides a diverse selection of CFD trading instruments for you to trade across various asset classes, including Forex, Commodities, Stocks, Shares, Indices, Metals and Energies. Unfortunatly, the broker does not currently offer cryptocurrencies, options and bonds. For those instruments you could always consider AvaTrade as an alternative option.
Darwinex Instruments Summary
| Instruments | Darwinex |
|---|---|
| Forex | ✓ |
| Stocks | ✓ |
| Indices | ✓ |
| Commodities | ✓ |
| Cryptos | x |
| Options | x |
| Bonds | x |
| ETFs | ✓ |
| CFDs | ✓ |
Commission and Spread Fees
Darwinex has two main account types, each for retail traders and professional traders. Different spreads and commissions apply to each account type. Darwinex offers trading at very tight spreads starting from just 0.0 pips with a low commission fee starting from $3 per standard lot per round turn. This is below the industry average which makes them a very cost-effective broker. The low spreads mean they can be suitable for all types of trading strategies, including scalping and automated trading.
| Fee | Retail Account | Professional Account |
|---|---|---|
| Commission (per standard lot per side) | $0 | $1.5 |
| Spreads from | 0.6 | 0.0 |
Deposit and Withdrawal Fees
Darwinex charges deposit and withdrawal fees for some payment methods. The broker’s bank charges bank wire transfers for deposits below $2000. And deposits made via Skrill also incur charges of 0.05% of the amount. On the other hand, all withdrawal methods require some payable charges whether that be from the broker or third party processor.
Inactivity Fees
Darwinex does not charge an inactivity fee from its dormant accounts which is an advantage they have over many of their competitors who do.
Darwinex provides its trading services on a variety of user-friendly platforms that can give you convenient access to the markets across all of your devices. The MT4 and MT5 platforms are popular and are accessible on desktop (Windows and Mac), web, and mobile (iOS and Android). Forex, indices, and commodities may be traded on both platforms, but shares are only available on MT5. You will find powerful FIX API solutions if you are looking for institutional trading conditions. Darwinex understands that some traders want more than these platforms’ capabilities and hence provide the following auxiliary libraries to supplement the MetaTrader / FIX API stack:
- Pricing and Trading Modules for FIX v4.4 (in Python)
- Python-to-MetaTrader Bridge with ZeroMQ (in Python)
- MetaTrader Server EA with ZeroMQ support (in MQL)
- FIX API
MetaTrader 4 (MT4)
MT4 is the most used CFD and forex trading platform all over the world. It is available in various languages and is well-known for its user-friendly design and plethora of built-in tools, making it a popular choice for both new and experienced traders. MT4 is extremely customisable and has many features such as technical indicators for chart analysis, numerous time frames, multiple order types, trading templates, real-time price quotes, alert alerts, and automated trading. Users may utilise the built-in MetaEditor to create their own custom indicators and expert advisors (EAs) in the MQL programming language. A strategy tester is available for testing systems over historical data, and there is a big online community where other MetaTrader users discuss indicators, EAs, and other ideas.
MetaTrader 5 (MT5)
MT5 contains nearly all of the same fantastic features that you will find in MT4. A few minor improvements here and there will allow you to trade in more markets, with more indicators and a total of 6 additional pending orders, as well as an improved market depth information level that now comprises 21 distinct timeframes. The greatest part is that you will not lose any of the top-tier functionality or trading capacity you have access to in MT4. It has only progressed in a few regions. Again, this trading platform is available via all mediums as a Webtrader and as mobile trading apps with Android and iOS compatibility.
FIX API
The Financial Information exchange (FIX) protocol was created in 1992 and is an open communications standard that is not controlled by any individual or organisation and maybe built to match the needs of each business that uses it. The FIX API protocol offers a foundation for straight-through processing (STP) and connections between a diverse set of parties. It is vendor-neutral, with flexible and standardised inter-party exchange transactions. Standardised data fields serve as the foundation of all FIX messages, allowing information to flow from beginning to finish a transaction. This is a great solution for those of you who are running demanding trading systems that need direct market access. You can also get a sold FIX API solution via competitors such as Global Prime.
ZeroMQ
ZeroMQ is an Open Source Concurrency Framework that allows you to create an expandable, high-performance bridge between programming languages and MetaQuotes trading platform. ZeroMQ allows programmers to link multiple programmes in various ways while removing a user’s reliance on MetaTrader-supported technologies. Strategies and indicators may be created in C/C#/C++, Python, R, Java, and other languages and then pushed to the market using MetaTrader.
Zorro Trading Platform
Zorro is a free software application for financial research, machine learning, and the creation of algorithmic trading strategies. With a simple interface and a robust collection of features and capabilities, it is capable of backtesting and live trading. Traders can use the Lite-C programming language to build, backtest, and trade their strategies. Zorro includes a bridge plugin for MT4 and MT5 that allows traders to use MetaTrader directly from their Zorro trading strategies.
DARWIN
A DARWIN combines a trader-managed trading strategy with Darwinex’s autonomous risk management engine. You may start your own account to invest in Darwin. Only profitable DARWINs are subject to a 20% performance fee. The trader’s incentive is to perform well continually. The website shows the performance of DARWINs alongside the methods of individual traders from over 80 nations. Several short and long-term trading techniques are available, using underlying instruments from various markets such as currencies, equities, commodities, and indices. It is important to note that there are no guarantees with how well DARWINs will provide. You should be wary of all risks involved with trading and investing online. If you are looking specifically for a copy trading solution, then eToro are the industry leaders when it comes to social trading platforms.
Darwinex Platforms Summary
| Platform | Darwinex |
|---|---|
| MetaTrader 4 (MT4) | ✓ |
| MetaTrader 5 (MT5) | ✓ |
| cTrader | x |
| Proprietary | x |
| Desktop | ✓ |
| Web | ✓ |
| Mobile | ✓ |
| Social Trading | ✓ |
| Other | ✓ |
Blog
Darwinex provides the Darwinex blog, which was established to share its expertise with traders to enhance their trading education and abilities. The Darwinex Investors Programme is designed to educate and teach new investors who are beginning to manage passive investments in DARWINs. The programme includes applications for iOS and Android devices, as well as multimedia and interactive instructional content. There are practical situations to learn how to apply what you’ve learned, as well as a self-evaluation activity. A rewards system based on goal achievement and student support services is also available.
Videos
A video section addresses trading topics such as money management, strategy building, and general information about trading.
Darwin Docs
The Darwinex website provides a comprehensive Darwin Docs section that answers accounts, platforms, and trading-related questions. Clients can share trading ideas and information on an active online community forum.
Research
On the downside, Darwinex does not have a research section. This is a significant disadvantage for all traders at all levels, who might always profit from a thorough research section. The broker’s only instrument in this respect is access to a comprehensive economic calendar. This will keep you up to speed on the day’s major economic events and allow you to analyse how they affect the market.
Darwinex lacks popular analytical tools such as AutoChartist, Trade Central, and trading calculators. In addition, the broker does not hold any webinars or podcasts. if you are looking for some additional tools to help with your market analysis, Swissquote have a great selection.
Darwinex Research and Education Summary
| Resources | Darwinex |
|---|---|
| Market Analysis | x |
| Guides | ✓ |
| Videos | ✓ |
| Webinars | x |
| Autochartist | x |
| Trading Central | x |
| Economic Calendar | x |
| Other | x |
Darwinex offers only 3 base currencies which means that you may need to pay a currency conversion fee if you are not funding your account using the same currency. The broker offers all popular payment options for deposits and withdrawals. You can make a transaction via wire transfer, debit/credit card, and electronic wallets. However, the broker charges a fee for many transaction methods. Cryptocurrency transactions, just like cryptocurrency trading, are not offered or accepted. If that is something that you are looking for, then Axi could be an option.
Darwinex Funding Summary
| Payment Method | Deposit | Withdrawal |
|---|---|---|
| Wire Transfer | ✓ | ✓ |
| Credit/debit Card | ✓ | ✓ |
| Electronic Wallets | ✓ | ✓ |
| Cryptos | x | x |
Darwinex is a subsidiary company of Tradeslide Trading Tech Limited, registered and authorised by the Financial Conduct Authority (FCA) in the UK. Darwinex strives to be as transparent as possible with its clients, workers, and the law. Regulation and insurance are in place to assist secure clients’ cash and information while providing the peace of mind that they are working with a reputable broker.
Darwinex Regulation Summary
| Regulator | Darwinex |
|---|---|
| ASIC (Australia) | x |
| IIROC (Canada) | x |
| CySEC (Cyprus) | x |
| SFC (Hong Kong) | x |
| JFSA (Japan) | x |
| MAS (Singapore) | x |
| FINMA (Switzerland) | x |
| FCA (UK) | ✓ |
| CFTC (USA) | x |
| Other | x |
Darwinex Safety
Darwinex is not listed on any stock exchange and doesn’t hold a banking licence. Darwinex clients are entitled to free additional insurance via the Financial Services Compensation Scheme (FSCS). Darwinex claims that customer monies are held in separate accounts with Barclays (UK). Finances in a segregated account are kept separate from business funds, which can assure in the case of insolvency.
Darwinex offers customer support via live chat, phone, and email 24/7. This is great and another advantage that they have over some competitors as not all brokers provide support during weekends.
Darwinex can be a good broker for traders who are interested in copy trading and looking for powerful FIX API connectivity. Professional traders may take advantage of reduced costs, while DARWIN investors can find the best strategies on the Darwinex Exchange. However, the $500 minimum deposit may be too much for certain newcomers or retail traders who have relatively low investments. There are free demo accounts available if you wish to give trial the brokers products and services without the risk. The broker is lacking in terms of educational content and research resources. Overall, I think Darwinex is more catered towards experience traders rather than beginners. Please feel free to browse our broker ratings if you would like to explore some alternatives.
