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.

What are the rules when closing a Darwin?

@Darwinex:

The announcement of the closure of the Darwin ZAG dates a few hours and already nothing is visible.

Why this rush? Ok to view ‘Darwin is closed’ if the trader drops out of the games but nothing forces you to erase the data away? Or ?

The core concept wants a Darwin to be a product of Darwinex, under its responsibility, and without any contractual relationship with the trader. So it seems to me that the Darwin could remain visible some day on the exchange, and forever for its former investors.

Paradoxically this is the case for the majority of Darwins on which I had invested.

Are there precise rules regarding these aspects, with help resources, etc.?

3 Likes

If the trader decides to hide it,it must be done immediately. Visitors and viewers have to bite the dust…

1 Like

This is beacuse you have some telentscout tendecy and you tend to be interested in new things.
The longer the trackrecord the lower the probability of a closure. :wink:

4 Likes

You refer to what?

To the general conditions accepted by the parties, of the resources found on the website, just your personal opus?

That’s the bottom line of my question: what are the rules, and where I can read them.

2 Likes

@Medialux
https://www.darwinex.com/education/help/darwin-provider#can-i-delete-my-darwin

I know this is not a boring legal dowloadable pdf, but the concept is clear for every provider and investor. :wink:

2 Likes

The opposite is AMD, where the account is closed and not the Darwin, left with an orphan investor

Darwin and trading account are linked but different.
Also the opposite can exist, suppose I want to continue trading without providing a darwin…

1 Like

How to delete a DARWIN
DARWIN providers may request deletion of their DARWINs from the DARWIN’s page.

“providers” “their DARWINs” If one day the FCA questions the core concept, Darwinex themselves provide the best argument to say that this concept is just a trick to make believe that the manager is not the trader.

This will trigger a process that will result in the DARWIN getting closed in the following 24-48 hours. When this happens, any open investments in the DARWIN will get automatically closed at the current quote and the DARWIN Provider and any investor with open investments in the DARWIN, will receive an email notification.

Deleted DARWINs CANNOT be restored.

Deleted DARWINs will keep appearing on the user interface of their providers as part of their track record. They won’t be visible for anyone except the provider.

1 Like

Ok, we know that you don’t agree on sematics but the concept is clear.
I notify my will to not provide my trades anymore and Darwinex closes its darwin.

Closing a darwin is not a good thing up to me, but if I close all my trades and stop trading the result is exactly the same.

2 Likes

[quote]
Deleted DARWINs will keep appearing on the user interface of their providers as part of their track record. They won’t be visible for anyone except the provider.[/quote]

Uh … I just say I have full access to ZAG right now.

I can even say that a losing trade is going on right now.

So, I almost feel like a hacker, while I just know how to use the platform :wink:

1 Like

Probably it is like former darwins, they still exist but you cannott find them with the search button.

2 Likes

BTW the fact that the closure isn’t in real time proves that the trader hasn’t direct control on the darwin.
It’s like telling to the taxi driver to stop.

2 Likes

Hi …

In case this helps … I clicked the Delete button for ZAG and I received an email within a minute or so stating that the Darwin was deleted. Hope this isnt causing any issues.

3 Likes

For Darwinex, for you and for me the concept is clear.

For a large majority of customers, it is already much less the case, I assure you.

My fear is that one day a powerful actor in finance, a large bank for example, finds Darwinex and others shadowing him, complaining to the regulator and attacking the concept in the sense that individual traders have no right to manage third party funds.

And once you have lawyers at $ 500 an hour on the back, semantics is not an unimportant gadjet.

I admit that I am a follower of Murphy’s Law :wink:

4 Likes

Hello,

You’re not at all involved.

It is just my mania to rely on a concrete case to deepen my knowledge a little and to remove some doubt. :sweat_smile:

1 Like

that orphan was lucky, earned profit…

1 Like

Good afternoon,

the rules when it comes to closing a Darwin are:

  1. Any Darwin provider may request the closure of their Darwin whenever they want. From that moment on, only the Darwin provider will be able to see the track record of that Darwin but…

  2. Once a Darwin has been closed, it cannot be restored again and…

  3. The underlying trading strategy won´t be able to create a Darwin out of it

Have a wonderful afternoon (although it is anything but wonderful in rainy/stormy Madrid at the moment :frowning:

Jesús

4 Likes

In the end, @Medialux you are hit just like me on this transparency issue for your data collecting purposes… we are on the same boat almost.

May I suggest to Darwinex a new proposal : keep a warning notice / list of very recently delisted Darwins for like a couple of hours or days before sending the Darwins data to the trashbin forever, so that we can hand-record values or have one last look before it’s gone. Even a 24h delay would be better than nothing

@JesusDarwinex @ignacio I understand it would defeat the purpose of hidding away a Darwin “in the minute” but could it be a light compromise ?

2 Likes

Can an English speaker confirm to me that nothing in the DARWIN PROVIDER PROGRAM forces Darwinex to hide the data of a Darwin within hours after which a provider has expressed a desire to interrupt its participation in the elaboration of a Darwin?

I found a delay of 5 days just to take note of the will of a party to withdraw from the contractual relationship.

  1. Term and Termination

11.1 The relationship between the Company and the DARWIN Provider under these Terms & Conditions shall remain in effect until terminated by either Party as set forth in this Section 11.

11.2 Either Party may terminate this relationship for any reason upon five (5) Business Days notice to the other Party.

Personally, I find that this possibility given the provider to immediately erase a Darwin is a mistake.

  1. this blurs the reading of the fundamental concept of Darwinex, making it forget that the issuer and legal responsible of a Darwin is Darwinex and not the provider.

  2. a reflection period imposed for example 5 days, would avoid an emotional decision of the provider, which he may regret once it is too late.

Again, I find it unfortunate that Darwinex themselves maintain an unhealthy blur on the fundamentals of his core concept.

I know that it is not for me to arrogate to myself the role of the guardian of the temple of the concept. But the fact that the FCA accepts this concept, is for me the foundation of long-term value and interest in Darwinex.

If the concept were to be called into question by the regulator, all is over! And these times regulators are challenging many things …

5 Likes

Thank you, @Medialux.

We will review the process. I guess a fair solution would be to stop offering the DARWIN but leave it visible for anyone who’d like to review it.

We’ll keep you posted!

5 Likes