CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. -- % 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.

Key Information Documents (KID)

I was not able to find Key Information Documents (KID) on the website legal section.

As I understand, Darwinex, like all other regulated brokers, is required to publish them on the website, starting 3 January (as per PRIIPS regulation).

All other brokers I work with, have already published their KID documents.
For example: https://www.ig.com/uk/kid/cfd-ncr https://www.oanda.com/register/docs/oel/cfd-forex.pdf

Are these going to be published soon? or if they have already been, where can I find them on the website?

Thanks

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I found that, but I’m not sure it meets the requirements of this new legislation.

https://www.darwinex.com/riskdisclaimer?lang=en

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No, it does not.

KID requires short explanation to each product (Forex, CFD etc.) and it’s risk.

> Each KID will need to contain the following information, presented in a pre-determined sequence of sections. The sections are:

What is this product?
What are the risks and what could I get in return?
What happens if [name of the PRIIP manufacturer] is unable to pay out?
What are the costs?
How long should I hold it and can I take money out early?
How can I complain?
Other relevant information

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Exactly.

This is a new kind of document with specific sections, that should have been published, in addition to the standard risk warning.

Hopefully someone from the team can give us an answer

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Hi guys!

I fwded your message to our compliance team, we’ll keep you posted.

Best,
Ignacio

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Hi guys,

I forgot to mention the docs were already uploaded to our legal docs section.

As always, big thank you for your feedback.

Best,
Ignacio

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@ignacio Thank you!

BTW, I’ve noticed something missing from the Costs section of the KID:

The inactivity fee included in the Trader Agreement is not mentioned on the KID charges table. Shouldn’t this be included since its on the contract?

And for currency conversion the actual charge is not actually specified. How much is it?

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Thank you.

The inactivity fee has never been applied. The company reserves the right to apply such fee but we have never decided to apply it. I guess it makes more sense to remove that sense from the agreement since it has never been applied.

Re currency conversion, we usually don’t provide that service. When we have done so, we have not applied any charge.

However, if you wire EUR funds to a USD account, for example, bank fees may apply (which are out of our control).

Best,
Ignacio

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It seems the KIDs are outdated as they have not been modified for the ESMA regulation.

They still mention “you may be required to make further payments to pay for losses. The total loss you may incur may significantly exceed the amount invested.”

Also, this is even mentioned for DARWINS and Crypto (which are not leveraged, so it should have never been possible to lose over 100%, in the first place)

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