CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66 % of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

English Interviews with Darwinex Co-founders

Good afternoon everyone,

After reviewing valuable community feedback, we’re looking into holding regular interviews with Darwinex co-founders @juancolonbo and @javicolonbo, in English.

The interviewer will be @integracore2 (myself), serving as your (the User Community’s) spokesperson.

To do our very best on this effort, we need your help.

REQUEST: Could everyone interested in this, please post questions / topics here on this thread, that you’d like to be addressed by Juan and Javier Colón in these English interviews?

This will help us structure and schedule these interviews as best as we can.

Please be as specific in your replies as possible!

Thank you in advance for your feedback :slight_smile:

Best,
Saif

  • Darwinex Labs
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Very nice initiative :slight_smile: !

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My first question is:
is Darwinex succeeding in making money with darwins?

Last update was about one year ago:

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Activtrades is now offering Dax option trading as small as 0.25€/point it is also possibile to sell them IF you have the underlying as hedge or another bought (i.e. + call 12200 -call 12400). For now only short month avaiable but it will be just enough to make good strategies and darwins. Are you going to consider them in the future?

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Great news.

I am interested in hearing more about the VAR calculation and any tools you may be considering. I know the positions in my Darwin account but am never sure of what the positions are in the Darwin. I know the VAR is maintained at around 10% but never sure what impact a change in my trading will have on the Darwin’s portfolio.

Would it be possible to show Darwin traders the composition of the Darwin’s portfolio and the VAR in real time? Would it be possible to give a trader tool to allow traders to see what impact a position change would have on their Darwin?

Or does this run into issues with FCA regulation of too much control given to traders over the Darwin?

Secondly, I would like ‘Experience’ to be renamed ‘Trades’ since it no longer includes time in the market, only trading turnover - happy to be corrected.

Thirdly, you previously mentioned you were working to get swap costs down. Any news?

Fourthly, will we ever be able to trade interest rate futures and government bonds?

Thanks for what you’re doing.

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Only if it’s no secret, may we know from where are sourced the new micro indices ? Because LMAX doesn’t seem to offer these micro contract sizes to retailers directly. Are you plugged to and mixing liquidity elsewhere now to cover these ?

————

Again, if it’s not too much to ask, can you comment what’s the reason the release of some micro indices are postponed versus others or MT4 (at the state of its announced decline) remains favoured over MT5 instead of a simultaneous release ? Thanks !

Following this event
https://blog.darwinex.com/post-mortem-security-incident/

After conducting a thorough investigation, we concluded that only usernames and / or passwords could have been eventually intercepted, if any

Trading credentials were not affected.

Bouncing on this quote, there is no need to own the MetaQuotes account details to gather the trading activity, that can be pulled from the website’s interface also.


If the Darwinex user does not take the habit to often check the available IP addresses from the log to react, a pirate could day by day look over his shoulders to retro-engineer the trades from this history (for instance). Intellectual property can at this stage leak.

Website access via a simple password is never enough security nowadays and it has been discussed / acknowledged for quite some time, yet not been treated.
Conclusion, is Darwinex now decided to implement 2FA, taking it as a priority ?

You could choose to support the basic TOTP method, being the most popular and common safety measure, which relies on the users’ mobile devices, so widespread. Maybe never a need ever for a more secured norm like FIDO U2F, which invites to buy a specific physical security key device (i.e. YubiKey), therefore concerns a lot less people despite the security upgrade.

2FA TOTP will be a major step forward simple password, and maybe enough forever for a trading site like Darwinex (since the withdrawals are doublechecked and the beneficiary “locked” outside the scope of any 3rd party)

Also, since the IP log is already in place, please consider to simply create/derive alerts and actions from it, like it’s usually done. Generate emails when an unusual IP address connects to the online account. More than that, protect the access by asking for a login confirmation by email (link to click), all the times an unusual IP is detected.

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Here are the maintainance trading hours on the cryptocurrences’ asset class at several well known brokers.

Closed trading hours :
CMC Markets, friday 20h GMT > sunday 22h GMT
Darwinex, friday 21h GMT > sunday 21h55 GMT
Dukascopy, friday 20h GMT > sunday 21h GMT
FXCM, friday 20h45 GMT > sunday 22h GMT
IG, friday 21h GMT > saturday 8h GMT
JFD Bank, friday 21h58 GMT > sunday 22h GMT
LMAX, everyday 21h GMT > 21h05 GMT
XTB, friday 20h GMT > saturday 2h GMT

Only LMAX is doing it right, which is a noticeable achievement.

Having 1 or 2 days of the weekend closed, leading to an artificial overweekend gap, can be hyper frustrating (opportunities missed), also quite risky to trade, excluding to exit a position (I’m assuming also a big inconvenient to manage the Darwin asset), because it forces the trader to become passive on super volatile instruments.

Knowing that the spot underlying as well as the crypto specialized exchanges always quote, never sleep 24/7, it makes the crypto traders hesitant to adopt the crypto CFDs at a traditionnal broker because this specificity is a big let down (outside large swaps, the main major one really ! Otherwise there can be benefits to transition)

For real, who wants to suffer from this for no viable reason, when you got other options ?

If LMAX lately is avoiding trading suspensions almost entirely, why oh why aren’t you following LMAX footsteps at Darwinex, staying closed during the weekend ? You’d convince lots of traders by upgrading your trading hours. What is the explanation for you not mimicing LMAX, regarding this aspect ?

edit : this article was just released
https://www.bloomberg.com/news/articles/2019-06-29/weekends-are-the-wild-west-for-bitcoin-but-nobody-knows-why
The comon sense reason is playing tricks to the future players (the CME contract is closed saturday/sunday)

If you were cancelling that gap risk, maybe you could even resume a leverage calibration 2:1, still acceptable in terms of the risk vs volatility (at least for the trader part, if not Darwins).

————-

In the end, are you working on enabling cryptocurrencies for Darwins ? The recent times continue to demonstrate plenty of massive benefit opportunities that could be shared with investors, while the volatility and volume on the forex have shrinked.

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Why don’t you offer unlimited deposits through PayPal and Skrill? 2,000 is a really low amount with the current leverage. It would be better if you offered a higher limit, even if we have to pay for the full cost.

Also it’s not really an option if you can’t withdraw profits using e-wallets. All other FCA-regulated brokers, including OANDA, IG and Plus500 allow this.

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Same question for card deposits, given this fact

Is there really no chance to see a card limit which regenerates instead of a capped lifetime one ?

Summary

Don’t really care for extra card withdrawal potential since I think bank wire withdrawal is just as fine if not better (a tad quicker and lets you choose between different account destinations by proving account ownership, while a new card withdrawal would require a first card deposit)

Regarding futures’ connectivity / datafeed + order routing, some technologies like CQG or Rithmic don’t support server side bracket orders properly (only OCO server side but not the parent order that sends the child orders). Rithmic doesn’t support them at all and CQG has unexpected behavior issues through several 3rd party trading platforms.
It then means you cannot close the platform or computer, otherwise these orders won’t trigger/fill.
On the other hand, Rithmic covers full depth of market for futures whereas CQG only 10 levels, which makes Rithmic superior for order flow platforms like Bookmap Pro which is now really trendy.

…may you study the possibility to offer the choice between more than 1 connection (like what is often proposed at other futures brokers), like CQG (if required for MT5) plus Trading Technologies (even at the price of charging some extra order routing fees). Thanks for your consideration!

I think it would be better to stick to questions instead of requests.
If you(we) request more banking/platforms/assets it is more likely to acheive promisses instead of answers. :wink:

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Very good news! I was waiting for some good new info in english. I also prefer the questions approach as @CavaliereVerde

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My second (uncomfortable?) question :

What about DWC DWF DWZ ?
Are you happy with their results?
Are the results consistent with backtests and expectations?

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https://blog.darwinex.com/fca-makes-esmas-cfd-restrictions-permanent/

Is this decision encouraging you to seal the launch of an entity regulated outside of Europe ?

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I think they (FCA) is thinking of making derivatives/leverage on crypto markets non available as well.

Question: Why was the announcement of top earners for the month stopped?

Surely not for privacy reasons as the hall of fame is public?

Was a good piece of advert material for the brand IMO.

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@Asgardian1
Do you mean this discussion?
If yes 100% agree.

Not quite… There was an email sent out at the start of the month showing the top earners (see below). Wasn’t sent for June or July…

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@Asgardian1 that the payment or the retained performance fee which could be cut significantly by losses in the following months?