Please take action against unscrupulous traders. The situation with STV (finboy) is not normal. On what basis did he close the account? If you give an analogy with shares it is equivalent to the fact that the company will simply take and close without explanation. There are investors who have invested in STV. Now, at the whim of the trader, they fix the loss. Such unreliable traders should be deprived of the right to trade on darwinex.If they start trading, let them trade until the end. Experienced investors themselves know when to go out. In the case of STV, the reasons for closing the account are unclear to me, the drawdown is shallow. Why didn’t they even bother to explain the reason for the closure?
Here’s some conversation about STV that might interest you.
I know the STV trader personally. They work on the system, they continue to trade with other brokers. In the case of Darwinex, this Darwin has closed Finboy, because the trader can not do it himself. Therefore, in this case Finboy behaves in bad faith! (Translated with DeepL)
I think STV was an announced tragedy after the closure of GAF .
I think finbou is a good professional trader but in this world often the package matters more than the content, many hide the bad stuff to appear better than they are.
STV and CAF are managed by different traders. I don’t quite understand what you mean.
In turn, Finboy is not a trader. It’s like a Fund Manager. They do not trade themselves, but attract traders from outside
Thy are created or desinged by other traders but here the maneger is finbou, with his money, his time and his expectations about return and drawdown.
A drawdown that can be fine for me, for you or for the creator of the strategy can be too much for finbou .
In this case, they should have warned in advance that the drawdown of 17% is unacceptable for them and they will close the account in this case
Regardless of that Finbou is responsible for the behavior. At least they should release an explanation.
I agree with you. They must explain themselves.
The lack of tranparency was the reason I bought THA only recently.
Being alpha wins on being transparent.
When I asked finbou about FEG and other darwins he never answered.
For Forex, 17% is a small thing. Now I am afraid that they will close THA at this drawdown.
I dont’ think so because THA is 100% provided by his trading, so there is more confidence.
I think it would be right for the Darwinex administration to make a fair decision to exempt investors (who lost money in STV) from paying the trader when investing in other Darwin Finboy. For example, my portfolio has both FEG and THA/
That’s a dangerous statement to make.
I sincerely hope you are successful in your investment.
Hi @Rams and thank you for raising the issue.
While there’s isn’t much information, there is information coming directly from the provider. In the description of STV they say:
IMPORTANT UPDATE: The Darwin STV will go in revision. Trading activity will cease for an undetermined time and might not be resumed. Please reallocate your funds to other Darwins. We are very sorry for the inconvenience and thank you for your understanding.
If the provider is not confident enough to continue operating the DARWIN, which behaviour is more responsible, halting it and recommending investors to move funds to other DARWINs or continuing to trade anyway?
On the DARWIN Exchange it’s Finbou who’s providing the signals behind STV ¯_(ツ)_/¯. The relations inside the company (employees, partners, etc.) are their concern. We can’t know about those affairs. Note that your information is also one-sided. Strictly speaking, what’s important on the Exchange is that the provider recommends to move AuM to other DARWINs.
I agree with you that more information would be of course welcome.
Have you contacted them about this via their public site https://www.finbou.com/?
I’m sorry,but you’re explaining the obvious. I’m trying to convey to you that this is not fair. You write that this is their internal Affairs. I agree with you, but only as long as it doesn’t concern me personally. Let me remind you that I invested money in STV. The fact that the trader advises to transfer funds is clear without them. Again, the obvious things, as if we would not have thought to do so.
“If the provider is not confident enough to continue operating the DARWIN, which behaviour is more responsible, halting it and recommending investors to move funds to other DARWINs or continuing to trade anyway?”
Why don’t they integrate other systems, attract other traders, and still continue trading? After all, what kind of justification is this: we are not sure? In Forex, you can not be sure of anything, but this does not mean that the trader should at his discretion take and close the account without proper notification in advance.
It would be fair for them to compensate for losses through other accounts they manage!
That is not even done if you trade the same Darwin on different portfolios with different success.
The losses on one portfolio does not compensate profit and investors fees of the winning one.
That should be solved first. Your idea is important if you want to fight against farmers.
I accept these losses! I’m ready for drawdowns. I accept this drawdown! I know that this is a market and it is unpredictable. I am not the first day on Forex and not even the first year. But I do not agree that a trader can simply stop trading without explaining the reasons. So they just don’t want to get out of the drawdown so that they don’t work for free, but open another account and start all over again? Well, what of it? I’m sure that’s not the case with finbow. But nevertheless, such a technical possibility is presented. And it would be very noble of finbow to discuss this sensitive issue with its investors.