Commission rebates

jumpergrog 2019-02-06 11:33:28 UTC #1

Is there a commission rebate/discount scheme on Darwinex for people that trade a LOT?

SECURIX 2019-02-06 11:35:18 UTC #2

I suppose you refer to this :
https://www.darwinex.com/trading/talent-linked-pricing

Furthermore, you can also request upgrade to professional status for other privileges :
https://www.darwinex.com/professionalclients

Aimak 2019-02-06 11:36:44 UTC #3

I understood that ESMA forbids such kind of rewards to traders

SECURIX 2019-02-06 11:38:46 UTC #4

Have you any text/article about it ? Thanks

Aimak 2019-02-06 11:48:46 UTC #5

SECURIX 2019-02-06 12:06:18 UTC #6

Thanks @Aimak, going to study it.

CavaliereVerde 2019-02-06 12:20:16 UTC #7

Now only professionals are allowed to burn their money with insane sizes and leverage.

jumpergrog 2019-02-06 12:54:33 UTC #8

I don't see it as a reward/bonus I see it more as a level playing field. My trading style means I can do a lot of trades on a single day depending on price movement and this essentially means I get punished for trading more.

LenanaPeak 2019-02-06 13:03:55 UTC #9

Less is often more when it comes to trading. But if you've developed a profitable HF trading quant, then most likely some big boys would be interested in hearing from you.

EvidenceAlpha 2019-02-06 13:18:58 UTC #10

Stick around and wait for futures. Request a membership (lease or purchase a seat) at the CME, your commissions will dive rock bottom.
But that’s the least advantage, you’ll be able to trade the spread openly which is an enormous edge against any market making maintained venues.

Spot forex, you enter a position then need to wait the market to move double the spread to start to win eventually, then you pay commissions.
Future currencies, you can win trades multiple times without any market movement, or enter-exit at the same price, virtually fees free. Night and day. Game changer.

Likely when Darwinex offer futures (tentatively end of 2019 given last november webinar ?), customer service at brokers usually can support your exchange membership application. Anyway, the procedure is not complicated to do on your own and should be known from everyone. It doesn’t change anything for the future broker (commissions unchanged) but changes totally the outcome for an active trader.

SECURIX 2019-02-06 13:22:25 UTC #11

EvidenceAlpha 2019-02-06 13:25:46 UTC #12

It was rather “past mid 2019” sorry. I extended that delay myself as security room. As long as it finally happens, 2020 would be fine too with my books!!!

CavaliereVerde 2019-02-06 13:26:36 UTC #13

People is waiting for futures since 2015 .
Darwinex want to creste a new generation of fund managers, with systems that have a capacity, i dont' think they will prioritize HFT.
Better to develop e a regular strategy and to begin a trackrecord with current tools and current execution conditions.

EvidenceAlpha 2019-02-06 13:29:28 UTC #14

If you’re interested to expect performance fees yes. Savings from membership can lead you up to $50k-100k yearly for nothing extra to do, not hypothetically. In all honesty, I am not sure I can compete against the best at Darwinex, however I know how to sign some paperwork, so “until then” I’ll be making the easy choice with guilt (best of both worlds will definitely be to cumulate both niche ! And so few will be able to offer it)

CavaliereVerde 2019-02-06 13:35:10 UTC #15

They will always tell you "we are working on it"
I am sure they are doing their best but if we don't have futures after 3 years ther must be some serious difficulty.
My opinion is that it is more likely to have another 100 useless stocks cfds than futures .

It is always a matter of realistic expectations.

EvidenceAlpha 2019-02-06 13:37:17 UTC #16

That’s okay if they have other priorities in line. I prefer this statement than to be turned down “we don’t consider it anymore. End of discussion” it is fine I guess. I won’t teach you that Rome was not built in a day

if we don't have futures after 3 years ther must be some serious difficulty.

I have no idea about the behind the scenes. I admit I thought that the Dax CFD Darwin (same overnight risk issue) would have been fixed before

jumpergrog 2019-02-06 13:55:29 UTC #17

I trade manually Have been doing for some time with a broker where I pay 0 commission so I am used to that style. I am just going to have to swallow the fees I guess and let my positions run that tiny bit longer. At least Darwinex can buy me a beer at the end of the year :

yhlasx 2019-02-06 15:34:45 UTC #18

Very interesting. I know little to nothing about futures trading, but super low spreads make some strategies viable that otherwise would not be (for trading at least, for darwins i don't know). I am gonna research this further.

EvidenceAlpha 2019-02-06 15:46:01 UTC #19

It’s not really about the spread being more or less large, neither about the commissions impact. Of course, this is arguable to some extent.
It is really more about the structure first, the type of the product / conditions, the market place and participants, etc. It is the whole nature of the environnement that makes it valuable.

If you need to learn about futures ...and options which should be the real starting point to any trader beginning (imho), I suggest that you take the official course / lesson from the NFA (US regulator) which is called “Series 3”. It leads to an exam you’re not obligated to pass. You can study on your own. You can find teaching material online for about $250 or less than $100 (second hand books). It is a correct material / right angle to start with, then build from there

EvidenceAlpha 2019-02-06 23:05:40 UTC #20

Preparation courses, usually text book + CD/DVD (has final exam samples with the format of “multiple answer choices”)
https://www.stcusa.com/securities/licensing/us/series-3/
http://www.aitraining.com/series3.htm
https://www.theifm.org/landing-page/nfa-series-3-exam-preparation
http://www.aitraining.com/series3.htm

But this book is also perfectly enough. Here the 3rd edition, you can get it used for $40. Since then, the 4th edition was released. The update is likely to concern the regulation part only, don’t bother the upgrade

It’s not that hard and not that long to review in full. Well worth it. Back to school for a second In reality, at the condition to pay an annual fee to the regulator, this exam could grant you the rights to become a CTA, or an IB, and other honorific recognised titles. Most people choose not to and stick to it as teaching material strictly, because otherwise it then triggers ...controls and other duties, you also then need to pay attention about the topics you speak about due to the newly responsability acquired. Too heavy for many to be worth it. Darwinex allows it to be much more straight forward for the average isolated person !

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