Alternatives to Darwinex

[CavaliereVerde]

We are light years away from somenthing professional.
No results, no kind of rankings or statistics.
Contests without any info about partedcipants or winners, can't be serious.
Only a cheap static website that could be managed by a single person as @Gargamel told before.
"Funded Trader" wordpress template.

 

[Viro Major]

you usually don’t get the results in reports displayed to the public of prop shops or HF, that’s not the concept. I could care less, it has no incidence on me. The trading environnement conditions of what to expect are simple and clearer than Darwinex, that’s enough for me

it’s clear some of these trapping companies are made up in haste, but others appear more pro

FTMO is the Winner in the Deloitte Awards

There were over 300 companies from 18 European countries competing in this category and we came on top. It is a huge success of the whole FTMO team and a recognition that our work matters.

ftmo.com

I think FTMO is the one to consider the most

 

[Viro Major]

Contests without any info about partedcipants or winners, can't be serious.

it’s not a contest, more of a test. There is no competition against other participants

No results, no kind of rankings or statistics.

the transparency / analysis at Dwx only helped me to arrive at one conclusion : I almost don’t want to invest on anybody. What benefit do I derive from it ? The framework is neat, but I don’t get value

 

[CavaliereVerde]

Here we are not speaking about you expectations or results as investor.
Here we have "challanges" without results.
Even on a marathon you know the partecipants and the rankings and there is nothing to invest.
They hide the results because it would be bad marketing for them, it would be clear that they are traps for dreamers.
If you dont' care about transparency I don't care about awards or "recommended by my grandmother" stuff...

 

[Viro Major]

Anyway, there’s little point to learn more about what we already know. Almost nobody makes it. It’s trading. Almost nobody makes it at Darwinex. Almost nobody makes it there at FT. More or less, it’s a blood bath. The one transparency to remember is that apparently they (isolated and all of them combined) distribute way more perf fees than Darwinex from year to year. So either they have more contributors and it’s a mass effect or a few manage to extract more. At the end of the day, it’s an elitist game just like the rest.
It’s not about launching a career but whether or not it can be financially attractive during temporary shots. I think FTMO’s challenge is manageable. More than that, its access is straight-forward and quicker to achieve results than to wait unrealistic investors during years. To make it bold once again, in only 3 days to 3 months, it offers to get funded for the equivalent of $1.75M AuM of Darwinex, for just 1600 €, with FTMO. So as a participant, maybe it doesn’t protect your expenses on the downside, but at least it is not void of value as a shortcut.
I think the debate must be turned upside down. Occasionally, the more realistic road could be the one which appears to be the least viable in the long term. Darwinex in practice is also full of idealism that doesn’t turn into concrete due to a context which fails to match a good fit

 

[The5ersTF]

Yes the support is bad. I’m thinking it might be him who replies lol ?!

the support of FTMO is good though

Hey Viro

How are you?
I checked the emails you sent and saw that you received a reply to everyone, could you please indicate which email was not answered to you

 

[Viro Major]

Hey Viro

How are you?
I checked the emails you sent and saw that you received a reply to everyone, could you please indicate which email was not answered to you

Hello,

I sent an email about regulation that was not answered, as stated in this topic. But it seems your industry does not fall under any obligations.

Overall, I revise my comment. Your support is good enough.

 

[Viro Major]

so, just take it slow for as much time as it takes while just finishing positive, then the challenges can be free. What more ?
Do you offer something equivalent @The5ersTF ?

 

[The5ersTF]

Hello,

I sent an email about regulation that was not answered, as stated in this topic. But it seems your industry does not fall under any obligations.

Overall, I revise my comment. Your support is good enough.

Hey Viro
The 5%ers is a private fund holding ownership of a Forex Trading account under a regulated broker. However, there is no regulation clause to what we do, because we are not a financial institute and do not provide any financial services. We trade using our fund’s capital, with the support of our competent funded traders.
Regarding the email you sent, I will do another check, thank you very much!
Best...

 

[The5ersTF]

View attachment 293841

so, just take it slow for as much time as it takes while just finishing positive, then the challenges can be free. What more ?
Do you offer something equivalent @The5ersTF ?

Hey Viro

For the low risk program
If you are positive, you can request an extension.

For the aggressive program
If by the end date your account balance will be negative the account will be closed.
If by the end date the account balance will be positive you’ll have 2 options according to the rules for the aggressive programs:
1 - You can choose to withdraw 50% of the remaining profit from the account and closed it.
2 - You can ask for a free reset to start over and we will provide you with a new account.
Please, let us know which one of the options you prefer before your account expires.

 

[Viro Major]

Hey Viro

For the low risk program
If you are positive, you can request an extension.

For the aggressive program
If by the end date your account balance will be negative the account will be closed.
If by the end date the account balance will be positive you’ll have 2 options according to the rules for the aggressive programs:
1 - You can choose to withdraw 50% of the remaining profit from the account and closed it.
2 - You can ask for a free reset to start over and we will provide you with a new account.
Please, let us know which one of the options you prefer before your account expires.

Thanks for these precisions. That’s a motivating stance and one that is inviting to join.

By the way, welcome here, the move is appreciated.
I’d appreciate if Darwinex would also intervene on discussions when there is a precision to be made, now that they don’t run a forum any longer. Any kind of support is good to take and there is never enough channels for the purpose.

 

[Viro Major]

@The5ersTF FTMO allows to pass up to 3 challenges concurrently. What about you ? Can the payouts add-up if several challenges are succeeded at once ? Can similar trades be taken without being considered a violation ?

To be honest, my main regret now is that you only support forex as sole asset class. Otherwise, I can cope with the rest.

 

[Viro Major]

Sorry but I disagree.
There is nothing free at all. To trade al Darwinex, as all traders, we have to make deposit, spread, commission, even they are very small if trading with 0.01 lot size.

Anw, Darwinex is basically a brokers. It can conduct DarwinIA, social trading but it's really truely a broker. And income of any brokers are traders' deposit, spread, commission and swap. Pay for all them, and then we can trade.
Darwinian or DarwinIA are just one of their marketing tool to make them outstanding among lots of brokers in the world and attract traders and investors.

I share with you this opinion. Darwinex is an enhanced broker but a broker first and foremost with a twist searching to convince through a specific added-value. However, given the fact the popularity of the asset management part found a ceiling which I think has been below their expectations and ours (not saying it’s their fault, they really tried and suceeded somehow to release a very good product overall), it can be considered almost like a type of marketing applied over a broker base. Consequently, I continue to claim they should put more efforts to become a better broker because they have some margin room to improve in that space.

 

[The5ersTF]

@The5ersTF FTMO allows to pass up to 3 challenges concurrently. What about you ? Can the payouts add-up if several challenges are succeeded at once ? Can similar trades be taken without being considered a violation ?

To be honest, my main regret now is that you only support forex as only asset class. Otherwise, I can cope with the rest.

Hey Viro yes, you can pass 3 challenges, you'll get paid, You will receive payment on any account you are in profit, and you can trade similar.

 

[Viro Major]

It is the perfect scam for people that evaluates the professionalism from the number of monitors used by the trader.
I prefer to evaluate prfessionalism from number of years of trackrecord.
You pay to trade in a "real" trading room and feel like a pro...
I never found a trackreckord generated by those teams of wannabe pros...

They’re not selling themselves to investors so why provide a TR ?
Does it matter to be evaluated as pro or rather make money ?
Another example is the crypto space, there are countless dumb potatos, sillier than you and me, who manage to earn millions which is helped by the fact they’re idiots able to seize opportunities. Do they have to hang themselves because they don’t release a TR and cannot be followed by external capital ? What counts... There will be lucky strikers on TF who will earn more than serious Darwinex providers, it’s a fact.
Same remark goes for the young man in his bedroom who profits of an unregulated space. He makes business on a smart breach, we try to do the same. No big deal. It’s the world we live in.
It would become problematic if the challenge rules were twisted and hidden but they are released and clear. It has no value to have transparency on what performance my neighbours can achieve since they have no ownership on my bank accounts and wouldn’t trade on TF at my place. It is unrelated to us and our competencies which we have full transparency and control over.

 

[CavaliereVerde]

Yes there a lot of people around making lots of money....
A trackrecord is not only a bait for investors, it is the poof that you are making money.
I trust trackrecords, account statements and tax reports, these are facts, everything else are words.

 

[Viro Major]

I can only understand you care because you plan to invest. Otherwise, I absolutely don’t get why it matters, unless you’re searching to prove to yourself you could have better results, as an encouragement. But these people who hide cannot be invested so it’s a sterile talk to condemn TF against Darwinex with opposition, as it’s an “alternative” as the title of this topic suggests.
Maybe it can even invite Darwinex to evolve again because they’re not addressing all scenarios to our full satisfaction.

 

[CavaliereVerde]

Exact it is an alternative, pros and cons and we are discussing about it.
Maybe TFs are full of spectacular traders but i cant' verfy it and and I dont' think so.
Maybe all pros are on TFs and all the crappy traders are on Darwinex...

 

[Viro Major]

I now envision it more as an addition to Darwinex. No need to choose between both with a clear “winner“. If money is earned in the short term on TF, then it can be deposited at Darwinex to make a better impression and demonstrate commitment in the longer term.

 

[Viro Major]

Exact it is an alternative, pros and cons and we are discussing about it.
Maybe TFs are full of spectacular traders but i cant' verfy it and and I dont' think so.
Maybe all pros are on TFs and all the crappy traders are on Darwinex...

No, like you I also don’t think so. If you had hopes to recruit better traders elsewhere, I’m not sure how their quality differs over there on TF. Probably not by a mile. However, it’s a pocket of potential talents that Darwinex should try to seduce (instead of let go)
Also, since the conditions are very difficult, we can imagine that it pushes the contenders to improve by constraint and eventually lead to a Darwinian effect. More pressure requested to survive, faster evolution. Whereas at Darwinex, it is so open that there may be traders with a real serious plan, but there is also all of those who give it a try without minding because they have nothing to lose.
Where it hurts is when somebody like Konstantin is elected as godlike status then blows dozen thousands of funds. He himself could not care less because yet again, he has so little to lose from his own pockets that he secured already. I’m thinking Darwinex should apply more pressure on its pool of wannabe managers, up to even punish them financially... so everyone understands better that we’re not here to toy around with capital, especially when you address strangers which should invite to some more responsability than misleading a crowd about competency but really taking chances.