Alternatives to Darwinex

[IlIlIlIlI]

Today I completed the challenge of the test version of the FTMO challenge (free trial) as expected:

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:

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

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.

 

[TLN]

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]

What really matters is paying the fee, challanges are to add a bit of fun.
The business is that everyone pays the fee while very few make money on the long run.

 

[CavaliereVerde]

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.

 

[TLN]

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.

 

[Muiris]

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.

Yeah, so far the only alternatives to Darwinex are these garbage "prop" firms people keep pumping here.

paying 1000 dollars is not a good alternative to darwinex.

 

[itstradingtime]

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.

Thanks for sharing, as usual. I'm collecting all of them and probably will also try all of them
15% is really low and it might take a year before you start seeing any profit, but I read that, once you pass the 10% profit, you get a real account and the profit split is 80% (after the first 2 months).
That looks interesting.

 

[CavaliereVerde]

Thy are hamsters, going forward every broker is a hamster, they make money from every customer, winners and losers.
The difference is that Darwinex is much cheaper: you deposit 4k, trade one microlot and the expenses are very low.
Even if IC Markets and Tickmill have better conditions the difference with Darwinex is small, that difference is the ticket to pay.

 

[TLN]

paying 1000 dollars is not a good alternative to darwinex.

Totally disagree.
But depends on you.
Just, let assume that you are a profitable trader. But low capital.
You have 2 choice.
1. Join Darwinex for free. But need to wait/build at least 1 year to get fund.
2. Pay ~1% the capital at MFF and get it immediately.
It's up to you.
Now, I will stop all sharing about this topic.
Since, most of Darwinex traders seem to be very unbiased with prop firm.

 

[CavaliereVerde]

Just, let assume that you are a profitable trader.

And that is exactly the point, many wannabe-traders assume to be profitable without a trackrecord, I think everyone of us thought to be profitable at the beginning.

The first time you deposit real money you think to be profitable, otherwise you would continue to play with demos.

 

[TLN]

And that is exactly the point, many wannabe-traders assume to be profitable without a trackrecord, I think everyone of us thought to be profitable at the beginning.

Actually, I just mean that you already a profitable trader (Already). Just, how to define what a profitable trader is, it's up to you.
It's different from trader and trader.

 

[TLN]

15% is really low and it might take a year before you start seeing any profit,

If you are a conservative trader, yep, low risk, 1 year to reach 7% profit.
However, since max Abs DD is 12%, so traders can trade with some more risk such as 1% of max DD amount as a trade.
As a teacher, I think you surely will find out how fair MFF offers.

 

[itstradingtime]

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.

Absolutely, but if you consider that the allocation is lifetime (unless they go broke or you go broke with the account) and that after getting 10% profit (with no time constraints), you get 80%, I think it's at least worth considering it.
My opinion is that you want to be a full-time trader without having the capital? Then you may need to take the good offers (Darwinex) and the s***ty offers (prop trading firms), as long as they all provide you with a positive expected value

 

[itstradingtime]

If you are a conservative trader, yep, low risk, 1 year to reach 7% profit.
However, since max Abs DD is 12%, so traders can trade with some more risk such as 1% of max DD amount as a trade.
As a teacher, I think you surely will find out how fair MFF offers.

I think it's fair. It might take time to build something concrete, but, as I said, if you are a profitable trader but without money (which is the case of some of my students), you need to build by taking all the opportunities with EV+.
In my personal case, I do it to share the experience with my students, but I wouldn't know what to do with all these accounts, in case I get funded. I thought of giving them to other traders and just split 50-50, but then I realised that they can go through the challenge on their own and open opposite trades with my account and theirs. If we win, they fund the failed challenge with the profit they make with our account. If we lose, they pass the challenge on their own

 

[TLN]

Absolutely, but if you consider that the allocation is lifetime (unless they go broke or you go broke with the account) and that after getting 10% profit (with no time constraints), you get 80%, I think it's at least worth considering it.
My opinion is that you want to be a full-time trader without having the capital? Then you may need to take the good offers (Darwinex) and the s***ty offers (prop trading firms), as long as they all provide you with a positive expected value

Ah... no need to worry so much about a long business of a prop firm.
Since, more and more prop firm appear with better/fairer conditions/rules. That's is benefit of competition.
With me, a profitable trader is one that get much money in wining period, and return back less money in losing period.

 

[TLN]

but then I realised that they can go through the challenge on their own and open opposite trades with my account and theirs. If we win, they fund the failed challenge with the profit they make with our account. If we lose, they pass the challenge on their own

Not that simple. Lol.
Have you ever thought why most of prop firms ask for 2 phases of verification/challenges? Like FTMO ... They all know about the case traders can do arbitrage among prop firms.

 

[Muiris]

Ah... no need to worry so much about a long business of a prop firm.
Since, more and more prop firm appear with better/fairer conditions/rules. That's is benefit of competition.
With me, a profitable trader is one that get much money in wining period, and return back less money in losing period.

I remember when people got hired by prop firms. trained for 6 wks, then funded with firms money and allowed share in profits.

but please tell me about conditions are going to get fairer and better with more competition. lol

 

[Muiris]

And that is exactly the point, many wannabe-traders assume to be profitable without a trackrecord, I think everyone of us thought to be profitable at the beginning.

The first time you deposit real money you think to be profitable, otherwise you would continue to play with demos.

we only have to look at results 10,000 darwins to know why this is such a good business model

 

[IlIlIlIlI]

Now, I will stop all sharing about this topic.

Please, keep in touch with us. It's valuable for all of us.

Not that simple. Lol.
Have you ever thought why most of prop firms ask for 2 phases of verification/challenges? Like FTMO ... They all know about the case traders can do arbitrate among prop firms.

You need 3 successful months in line with their rules to get the fee back and make money: challenge, verification and the first month funded.

Additional information:
FTMO send me an answer this morning to my question about tp and sl handling with their news trading rule:
-----------------------
You can trade US100.cash (NASDAQ 100) during the news release.

You can hold existing trades that are placed before the restricted news events but you are not allowed to close them or open new positions during the restricted period of 2 minutes before to 2 minutes after the release of the subject instrument.

It is up to you if you will remove or keep your SL and TP, please make sure that it will not be activated during the 4-minute windows because All activated pending orders including SL and TP during the restricted period also serve as violations of the rule restriction.

If you wish to close your trades, you may do so before or after the 4-minutes restricted period.

More about news trading: https://ftmo.com/en/faq/can-i-trade-news/
------------------------
That means, you have to make your positions naked (no stops or tp) or close them before the restriction period or you have the risk that your account will be closed (only funded accounts, not challenge or verification accounts). To hold that can be hard for active robots.

 

[IlIlIlIlI]

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.

.. and no vacations without approval by them. (see RULE # 2 – Trading Frequency & Consistency)
The hardest point in that rule can be that you have to trade your specific volume every week as also described in that rule.

You pay fees if you are not profitable (see RULE # 8 – Risk & Account Management)
https://myforexfunds.codozide.com/program/

If you join that program, I'd really appreciate if you share your experience here.
IMO every program has it's traps for traders, it's up to you what you can accept.