Alternatives to Darwinex

[IlIlIlIlI]

In this case the 4% rule is simply explained:
they make sure money with their 4% DD until stage 2 (5k USD account for 175 GBP).
And - against FTMO and some others like enfoid - they don't refund the fee for traders passing the evaluation successfully.

The maths or probability are the same as with the other prop firms - here I assume less than 5% of the traders pass the evaluation because of the asymmetry of the 4% DD against 6% (or later 10%) profit target for a payout.
And - against FTMO for example - their have a static DD of 4%, profit on closed position is not a buffer with their rules.

I also didn't find anything whether they make an invoice for the payout or how they cover the legal and taxation aspects of the trader.

 

[CavaliereVerde]

On Darwinex you deal with real results from decent traders while these TFs deal with wannabe traders and their dreams of printing money every month.

 

[McQuant]

On Darwinex you deal with real results from decent traders while these TFs deal with wannabe traders and their dreams of printing money every month.

You nailed it, precisely said.

 

[IlIlIlIlI]

On Darwinex you deal with real results from decent traders while these TFs deal with wannabe traders and their dreams of printing money every month.

At Darwinex you can compare that business only with DarwinIA - which is free of any charge.
Unfortunately the payment is reduced with the 6.5% VaR changes.
IMO also these prop firms don't pay reliable for a living.

 

[CavaliereVerde]

which is free of any charge

Almost free, on Darwinex you work with real money and you pay real commissions.
that is the price of the ticket.
NOTHING IS FREE ...

 

[IlIlIlIlI]

Almost free, on Darwinex you work with real money and you pay real commissions.
that is the price of the ticket.
NOTHING IS FREE ...

You're right, you pay commisions for at least 6 months to be eligible

 

[trendie]

On Darwinex you deal with real results from decent traders while these TFs deal with wannabe traders and their dreams of printing money every month.

I think thats true.
The challenge and verification demands seem to encourage trading large, and not think about the long term.
A test of a system, and the traders resolve, is dealing with extended drawdowns.

If you see some of the YT reviews where newbie traders were close to the end of the challenge, but not made enough profits, you can see them increasing lot sizes just to pass the challenge.
This does not teach you a favourable mindset.

It still seems a good laugh, though.

 

[itstradingtime]

Not sure if this is still the right thread to post this.
I completed the step 2 of FTMO.

I'm a little busy studying the ALM system and updating the course, so I won't start trading with the live account till my stream on Twitch next Monday.
If I understood correctly, I should receive my fee back and they should pay profits on a monthly basis. Hopefully, we will be able to verify if FTMO lives up to their word.

 

[CavaliereVerde]

@itstradingtime
Will you trade pure ALM on this "live" account?
If you will link it to myfxbook we can contiune our monitoring after the closure of IRY.

 

[itstradingtime]

@itstradingtime
Will you trade pure ALM on this "live" account?
If you will link it to myfxbook we can contiune our monitoring after the closure of IRY.

No, I don't think so, because the ALM requires you to have always a position on the market, with a stop loss.
One of the rules with FTMO is that you cannot open/close trades during important news, so I would always face the risk of going against that rule with the ALM.
I will browse some options with the others on Monday. Regarding the ALM, I do have a myfxbook that I started sharing in November: http://www.myfxbook.com/members/almtcs/alm-system/7451946

 

[IlIlIlIlI]

If I understood correctly, I should receive my fee back and they should pay profits on a monthly basis. Hopefully, we will be able to verify if FTMO lives up to their word.

Congratulations for your success! Now we know where we could find you

To get the fees back, you have to be profitable in the third month with your funded account (your first month with it) without violating the rules.

 

[IvanaO]

Hello, momentarely I have invest my money on copyfx. Can somebody compare copy fx and darwinex. I am earning money on copyfx, but traders charge me 30% of profit I think that is very expensive. How much do I need to pay on darwinex?

 

[CavaliereVerde]

Hello, momentarely I have invest my money on copyfx. Can somebody compare copy fx and darwinex. I am earning money on copyfx, but traders charge me 30% of profit I think that is very expensive. How much do I need to pay on darwinex?

I dont' know copyfx.
On Darwinex you pay 20% performance fee and 1.2% annual management fee.

 

[TLN]

If I understood correctly, I should receive my fee back and they should pay profits on a monthly basis. Hopefully, we will be able to verify if FTMO lives up to their word.

At first, congrat bro! I know your trading skill is good. You definitely achieve it for sure.
Actually, no need to demonstrate it. Since a lot of payout proof available in Facebook group, Instagram, Youtube.
Some is as large as 20k$.
I'm also on my own way with FundingTalend and MyForexFund. I will post update when I reach new milestones.

 

[Emanita]

Forex Proprietary Trading Firm | TradeHappy

TradeHappy is a UK based prop firm thriving to create a home for traders. Learn to trade and develop consistently profitable traders.

www.tradehappy.co.uk

 

[IlIlIlIlI]

Forex Proprietary Trading Firm | TradeHappy

TradeHappy is a UK based prop firm thriving to create a home for traders. Learn to trade and develop consistently profitable traders.

www.tradehappy.co.uk

Besides a 4 % loss limit there are no clear rules to find and not even whether your 300/700 GBP are immediately lost if you violate this 4% SL rule.
Did you find any adress of that prop? I didn't.
I just found this about the founder ...

a not working personal website, a youtube and an instagram channel without exciting numbers of visitors.
Scam or just a nice business idea with a 4% loss limit (which nearly all successful FTMO traders failed)?
Guess who can only win by this concept.

 

[Emanita]

The good thing is to have 1 year to achieve the 6% profit target... no pressure at all. Also, they upscale to the million, which is not so bad.

 

[Rufus_Leakey]

Forex Proprietary Trading Firm | TradeHappy

TradeHappy is a UK based prop firm thriving to create a home for traders. Learn to trade and develop consistently profitable traders.

www.tradehappy.co.uk

It might be like multi-level marketing where the "trader" is the product.
About TradeHappy

We enable our Elite traders to build their own trading teams and go head to head with other teams in the proprietary firm.​

I wonder if the traderssubscribers will still be happy if they have a security breach.
Terms of Service and User Agreement

TradeHappy Limited makes no assurances regarding the security of your information.

One thing for sure is "TradeHappy - Jacob" can post videos. I counted 309 on his Youtube page posted in the last year.

 

[IlIlIlIlI]

One thing for sure is "TradeHappy - Jacob" can post videos. I counted 309 on his Youtube page posted in the last year.

People running a public company in GB can always be found by their interesting filings ... including that the company was incorporated with 1 GBP:
https://find-and-update.company-information.service.gov.uk/company/12379189/filing-history

 

[Rufus_Leakey]

People running a public company in GB can alqays be found by their interesting filings ... including that the company was incorporated with 1 GBP:
https://find-and-update.company-information.service.gov.uk/company/12379189/filing-history

That 1 GBP is worth more today (at least in USD) than when TradeHappy Limited was created!