Overview of Darwinex

Darwinex is a UK-based financial services firm that offers a range of investment and trading services to clients. The company was founded in 2012 and is regulated by the Financial Conduct Authority (FCA) in the UK. Darwinex is known for its unique trading platform that allows traders to develop and sell their trading strategies to other investors.

Darwinex offers a range of trading instruments, including forex, commodities, indices, and shares, which can be traded on its proprietary trading platform, as well as on MetaTrader 4 (MT4) and MetaTrader 5 (MT5). The company offers both fixed and variable spreads, with the latter starting from 0.0 pips. Darwinex does not charge any commissions on forex trades.

Darwinex offers several account types to cater to the different needs of traders, including a Standard Account, a Professional Account, and a Corporate Account. The Standard Account has a minimum deposit requirement of €500 and offers leverage of up to 1:30 for forex trading.

Is Darwinex Legit or a scam？

Darwinex is a legitimate and regulated broker. It is authorized and regulated by the Financial Conduct Authority (FCA) in the United Kingdom, and it also holds an MiFID (Markets in Financial Instruments Directive) passport for the European Union. Additionally, Darwinex uses segregated bank accounts to hold client funds, which provides an extra layer of security for traders. However, as with any broker, it is important for traders to conduct their own due diligence and research before opening an account with Darwinex or any other broker.

Market Instruments

Darwinex offers a range of trading instruments in various asset classes, including:

• Forex currency pairs: Darwinex provides access to major, minor, and exotic currency pairs. Some popular pairs include EUR/USD, GBP/USD, USD/JPY, and AUD/USD.

• Stock CFDs: Darwinex allows trading on a variety of popular stock CFDs, including Amazon, Apple, Facebook, Google, and Tesla, among others.

• Commodity CFDs: Traders can also access commodity CFDs such as gold, silver, oil, and natural gas.

• Index CFDs: Darwinex provides trading on popular index CFDs, such as the US30, UK100, and GER30.

• ETFs: Darwinex also allows trading on a selection of ETFs, including SPDR S&P 500 ETF, iShares MSCI Emerging Markets ETF, and iShares Core S&P 500 ETF.

Account Types

Darwinex provides its clients with the flexibility to choose from three different types of accounts, each designed to cater to specific needs. The first account type is designed for traders who are more involved in the day-to-day activities of the market. The second and third account type, on the other hand, is designed for investors who prefer to take a more hands-off approach and let their investments grow over time. The minimum deposit to open either account is $10,000.

How to open a live account？

1. Visit the Darwinex website and click on the “Open a live account” button.

1. Fill out the registration form with your personal information, such as name, email, phone number, and address.

1. Select the account type you want to open, either Classic, DARWIN or MetaTrader, and choose the currency of your account.

2. Complete the verification process by providing a copy of your ID and proof of address. You can upload the documents through your account dashboard.

3. Choose your preferred deposit method and fund your account with a minimum deposit of $500.

4. Download and install the trading platform of your choice, either MT4 or MT5.

5. Start trading by placing your first order.

Leverage

Darwinex offers varying levels of leverage to suit the needs of different traders. The maximum leverage available for forex trading is 1:200, while for stock trading it is 1:20. However, it's important to note that leverage can be a double-edged sword and while it can magnify potential profits, it can also magnify potential losses. Therefore, traders should exercise caution and use appropriate risk management strategies when trading with leverage. Darwinex also offers negative balance protection, ensuring that traders do not lose more than their account balance in the event of significant market movements.

Spreads & Commissions (Trading Fees)

Darwinex operates a variable spread model, meaning that the spread on its trading instruments may vary depending on market conditions. The spread is the difference between the bid and ask price of a trading instrument, and it represents the cost of trading with the broker. The typical spreads offered by Darwinex are competitive, and they start from as low as 0.5 pips on major currency pairs such as EUR/USD.

In terms of commissions, Darwinex charges a commission on trades executed on its MT4 and MT5 trading platforms. The commission charged depends on the type of account and the trading instrument being traded. For example, on the Classic account, the commission charged on forex trades is 0.0035% of the notional value of the trade, with a minimum commission of 2.5 units of the account currency. On the other hand, the commission charged on stocks trades on the DarwinIA account is 0.1% of the notional value of the trade, with a minimum commission of 4 units of the account currency.

Non-trading Fees

Darwinex charges a few non-trading fees, such as inactivity fees and withdrawal fees. The inactivity fee is charged when the account has been inactive for more than 60 days and amounts to €/$/£ 36 per month.However, the inactivity fee is waived for clients with a balance of €500 or more. It is important to note that the inactivity fee may be subject to change, and clients are advised to check the Darwinex website for the latest information on fees and charges.The withdrawal fee varies depending on the payment method, and the minimum withdrawal amount is set at €/$/£ 100.

Trading Platform

Darwinex offers its clients two popular trading platforms, MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Both platforms are available in desktop, web, and mobile versions, providing traders with the flexibility to choose the platform that best suits their trading needs and preferences.

MetaTrader 4 is one of the most widely used trading platforms in the industry, known for its user-friendly interface and advanced charting capabilities. MT4 supports multiple order types and trading strategies, as well as the use of automated trading systems, also known as Expert Advisors (EAs). Traders can access a range of technical indicators and charting tools, as well as real-time news and market analysis. MT4 also provides a secure and stable trading environment, with fast and reliable trade execution.

MetaTrader 5 is the successor to MT4 and is considered to be an even more advanced platform, with additional features and capabilities. Like MT4, it also supports multiple order types and trading strategies, as well as the use of EAs. MT5 offers more advanced charting tools, with additional timeframes and more technical indicators. It also supports more types of pending orders, including Buy Stop Limit and Sell Stop Limit. Additionally, MT5 provides a built-in economic calendar and a customizable news feed, allowing traders to stay up-to-date with the latest market news and events.

Here is a comparison table of the trading platforms offered by Darwinex, Exness, and IC Markets:

Deposit & Withdrawal

Darwinex offers several deposit and withdrawal methods for its clients. The available deposit methods are Bank transfer, Visa, Mastercard, Skrill, and UnionPay. It's worth noting that deposits made by bank transfer may take longer to process compared to other deposit methods.

Minimum Deposit

When it comes to the minimum deposit requirement, Darwinex may not be the most cost-effective option in the market as it requires a minimum deposit of $500, which can be perceived as relatively high compared to some of its competitors in the industry. However, it is worth noting that the minimum deposit amount varies among brokers and is often influenced by various factors such as the type of account, the trading platform, and the financial instruments offered.

When it comes to withdrawals, Darwinex processes them through the same deposit method used. There are no fees charged for withdrawal requests, but it's worth noting that the receiving bank or payment provider may apply their own fees. Darwinex does not charge any inactivity fees, which is a plus for traders who may not be active in their accounts for a certain period of time.

Customer Support

Darwinex offers several customer support channels to its clients. The broker provides customer support in English and Spanish through email, phone, and live chat.

Clients can reach out to Darwinex's customer support team through email at support@darwinex.com. The broker also has a phone line that clients can use to contact customer support during market hours. Additionally, clients can get in touch with Darwinex's support team through live chat, which is available on the broker's website.

Darwinex also has an extensive FAQ section on its website, which covers a range of topics such as account opening, funding and withdrawals, trading, and more. The broker's website also features a knowledge base that clients can use to learn about various aspects of trading and investing.

Educational Resources

Darwinex offers a range of educational resources to help traders develop their skills and knowledge. They provide regular webinars, articles, and trading guides covering a range of topics such as trading psychology, risk management, technical analysis, and more. They also offer a blog where traders can keep up to date with the latest market news and analysis.

In addition, Darwinex has a community section where traders can share ideas and interact with each other. This provides a platform for traders to learn from each other, share experiences, and get support from the community.

Conclusion

Darwinex is a regulated online broker that provides access to a range of financial instruments, including forex, stocks, and futures. The broker offers a choice of trading platforms, including MT4 and MT5, and competitive spreads and commissions. However, the minimum deposit requirement of $500 may be considered high compared to some other brokers, and the range of payment methods is limited. Darwinex also offers some educational resources and customer support in multiple languages, although some traders may find these to be limited. Overall, Darwinex may be a suitable choice for experienced traders looking for a range of instruments and competitive trading conditions, but beginner traders may find the broker's high minimum deposit and limited educational resources challenging.

FAQs

• Q: What is Darwinex？

  A：Darwinex is a UK-based online broker that provides access to forex, stock, and commodity markets. It also offers social trading services where traders can buy and sell trading strategies.

• Q: Is Darwinex regulated？

  A：Yes, Darwinex is regulated by the Financial Conduct Authority (FCA) in the UK.

• Q: What trading platforms does Darwinex offer？

A： Darwinex offers both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms.

• Q: What account types are available at Darwinex？

A：Darwinex offers three types of accounts, including Classic, Stocks Darwin and Futures Darwin.

Q: What is the minimum deposit required to open an account at Darwinex？

A：The minimum deposit required to open a Classic account is $500.

Note: At this time, we only have a cursory look at OLYMPTRADE as the company's official website (https://olymptrade.com/ ) does not open properly.

Screenshot time: 01/28/2023

WikiFX provides dynamic scoring, it will track the broker's dynamic real-time scoring, the current time screenshot scores do not represent past and future scoring.

General information and regulations

OLYMPTRADE is registered in St. Vincent and the Grenadines and appears to be a fraudulent broker without any credible regulation, with a history of no more than 5 years. Unfortunately, we could not find any more detailed information about this broker on the internet.

OLYMPTRADE caters to a diverse range of traders, including beginners and experienced traders alike.The platform offers a wide range of financial instruments for trading, including currencies, stocks, metals, indices, commodities, cryptocurrencies, ETFs, OTC, and composites. Traders have the flexibility to choose between two types of accounts: Real Account and Demo Account. The Real Account allows traders to engage in live trading with real money, while the Demo Account provides a risk-free environment for practice. While specific information about spreads is not available on the website, OLYMPTRADE mentions that there are no commissions charged.Traders can access the OLYMPTRADE trading platform via a downloadable application on both mobile and desktop devices. The platform offers a user-friendly interface with various trading tools, features, educational resources, market analysis reports, and customer support services available 24/7.

When choosing a forex broker, you should know that a regulatory license does not necessarily guarantee the reliability of a broker as it may be an expired or cloned regulatory license, but a broker without any regulatory license has a high probability of being unreliable.

Pros and Cons

OLYMPTRADE offers a user-friendly trading platform with a wide range of market instruments, a demo account for practice, comprehensive customer support, and educational resources. However, it is not regulated by a reputable authority, lacks transparency on leverage and spreads, provides limited information on fees and commissions, has a relatively low minimum deposit requirement, and offers limited advanced features. Traders should carefully consider these pros and cons before deciding to trade with OLYMPTRADE.

Market Intruments

OLYMPTRADE offers a diverse range of market instruments, including currencies, stocks, metals, indices, commodities, cryptocurrencies, ETFs, OTC trading, and composites, providing traders with ample opportunities to engage in various trading strategies.

1. Currencies: OLYMPTRADE offers a wide range of currency pairs for trading, including major pairs such as EUR/USD, GBP/USD, and USD/JPY, as well as minor and exotic pairs like USD/TRY and NZD/CAD. Traders can speculate on the exchange rate movements between these currency pairs.

2. Stocks: OLYMPTRADE provides access to a variety of stocks from global markets. Traders can invest in individual company stocks, such as Apple, Amazon, or Google, and speculate on their price movements. Stock trading allows traders to benefit from the performance of specific companies.

3. Metals: OLYMPTRADE allows trading in precious metals like gold, silver, platinum, and palladium. These metals are often seen as safe-haven assets and can be used as a hedge against inflation or economic uncertainties. Traders can speculate on the price fluctuations of these metals.

4. Indices: OLYMPTRADE offers trading on major stock indices from around the world, including the S&P 500, NASDAQ, FTSE 100, and Nikkei 225. Index trading allows traders to speculate on the overall performance of a specific stock market, rather than individual stocks.

5. Commodities: OLYMPTRADE provides access to various commodities such as oil, natural gas, and agricultural products like corn and wheat. Commodity trading allows traders to speculate on the price movements of these essential goods, which can be influenced by factors like supply and demand dynamics, weather conditions, and geopolitical events.

6. Cryptocurrencies: OLYMPTRADE offers trading in popular cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Ripple. Cryptocurrency trading allows traders to speculate on the price volatility of these digital assets, which have gained significant popularity in recent years.

7. ETFs (Exchange-Traded Funds): OLYMPTRADE allows trading in ETFs, which are investment funds traded on stock exchanges. These funds are composed of a basket of assets, such as stocks, bonds, or commodities. Traders can invest in ETFs to gain exposure to a diversified portfolio of assets.

8. OTC (Over-the-Counter): OLYMPTRADE provides over-the-counter trading, which refers to trading financial instruments directly between two parties without the involvement of an exchange. OTC trading allows for more flexible and customized transactions, particularly for certain derivatives and exotic instruments.

9. Composites: OLYMPTRADE offers composite instruments, which are synthetic assets created by combining multiple financial instruments. These composites can represent various strategies or themes, such as a basket of stocks from a particular sector or a combination of different asset classes. Traders can speculate on the performance of these composites.

Trading platform(s) offered by OLYMPTRADE

Although a long time has passed since the launch of MT4, it is still a major player in the market and is loved by traders all over the world. Accessing it from different devices also makes it easier for users to trade.

Account Types

OLYMPTRADE offers two types of accounts: Real Account and Demo Account. The Real Account allows traders to engage in live trading with real money, providing access to the full range of market instruments and features offered by OLYMPTRADE. Traders can deposit funds into their Real Account and trade in real-time market conditions, experiencing the actual risks and rewards of trading.

On the other hand, the Demo Account is a practice account that allows traders to simulate trading without using real money. It is an excellent option for beginners or those who want to test trading strategies and explore the platform's functionalities. The Demo Account provides virtual funds, enabling traders to practice and gain confidence before venturing into live trading.

How to open an account？

Here is a brief description of the account opening process for OLYMPTRADE:

1. Registration: Visit the OLYMPTRADE website and click on the “Register” button to start the registration process. Fill in the required information, such as your name, email address, and preferred password. Make sure to read and agree to the terms and conditions before proceeding.

2. Account Verification: After completing the registration, you may need to verify your account. OLYMPTRADE may require you to provide certain documents for verification purposes, such as a copy of your identification document (e.g., passport or driver's license) and proof of address (e.g., utility bill or bank statement). Follow the instructions provided by OLYMPTRADE to submit the necessary documents.

3. Account Funding: Once your account is verified, you can proceed to fund your account. OLYMPTRADE offers various deposit methods, such as credit/debit cards, bank transfers, and electronic payment systems. Choose your preferred payment method and follow the instructions to make a deposit. Be aware of any minimum deposit requirements set by OLYMPTRADE.

4. Platform Access: Once your account is funded, you will gain access to the OLYMPTRADE trading platform. You can log in using your registered email address and password. The platform provides a user-friendly interface with a range of trading tools and features.

5. Account Configuration: Before you start trading, you may need to configure your account settings. This includes selecting your preferred language, setting up notifications, and adjusting other platform preferences according to your trading preferences. Take some time to explore the platform and familiarize yourself with its features.

It's important to note that the specific steps and requirements may vary, so it's advisable to refer to the official OLYMPTRADE website or contact their customer support for the most accurate and up-to-date information regarding the account opening process.

Leverage

The official website of OLYMPTRADE does not provide specific information about leverage. However, it is common for similar types of brokers to offer leverage ratios ranging from 100:1 to 500:1. Please note that leverage allows traders to multiply their trading positions, but it also amplifies both potential profits and losses. It is important to fully understand the implications of leverage and exercise responsible risk management when trading on any platform. For accurate and up-to-date information about leverage on OLYMPTRADE, it is recommended to refer to the broker's official website or contact their customer support.

Spreads & Commissions (Trading Fees)

OLYMPTRADE's official website does not provide specific information about spreads. However, it is mentioned that there are no commissions charged. In general, similar brokers in the industry offer spreads that start from 0 to 0.1 pips. Spreads refer to the difference between the bid and ask prices of a financial instrument and can vary depending on market conditions and the specific asset being traded. For accurate and up-to-date information about spreads on OLYMPTRADE, it is recommended to refer to the broker's official website or contact their customer support.

Deposit & Withdrawal

OLYMPTRADE provides a simple and convenient deposit and withdrawal process for its traders. The minimum deposit amount is 10 USD/10 EUR, making it accessible for traders with varying budgets. OLYMPTRADE supports multiple deposit and withdrawal methods, including Bank Transfer, Credit/Debit Cards, Bank Wire Transfer, E-wallets, and Cryptocurrency.

Traders can choose to deposit funds using popular payment options such as credit or debit cards, bank transfers, and e-wallets.

Similarly, when it comes to withdrawing funds, OLYMPTRADE supports the same methods used for deposits. The withdrawal process is typically straightforward, and the platform strives to process withdrawal requests promptly. However, the processing time may vary depending on the chosen withdrawal method and the policies of the respective financial institutions involved.

Customer support

The support service provided by OLYMPTRADE is not very extensive. It can only be accessed via email, address and a phone number. Since the company's website is not currently open, we do not know if it offers other services such as live chat, callback, FAQ, 24/7 or 24/5 service, etc.

Below are the details about the customer service.

Email: support@olymptrade.com

support-en@olymptrade.com

Phone Number: +356 20341634

Address: 54, Immakulata, Triq il-Mina ta Hompesch, ZABBAR ZBR 9016.

Users exposures

On our website, you can see that many users have reported scams. Please be aware and exercise caution when investing. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.

Conclusion

OLYMPTRADE is an online trading platform that caters to a diverse range of traders, offering a wide selection of market instruments and account types. The platform provides a user-friendly interface, downloadable on mobile and desktop devices, with access to real-time market quotes, trading tools, and educational resources. However, it is important to note that OLYMPTRADE is not regulated by a reputable financial authority, which poses a higher risk for traders. The platform lacks transparency on leverage and spreads, limited information on fees and commissions, and advanced features. Traders should carefully evaluate these pros and cons before deciding to trade with OLYMPTRADE. While OLYMPTRADE offers convenience and comprehensive customer support, traders should exercise caution and conduct thorough research before opening an account.

FAQs

Q: Is OLYMPTRADE a regulated broker？

A: No, OLYMPTRADE is not a regulated broker.

Q: What is the minimum deposit required to open an account with OLYMPTRADE？

A: The minimum deposit required to open an account with OLYMPTRADE is 10 USD/10 EUR.

Q: What trading instruments are available at OLYMPTRADE？

A: OLYMPTRADE offers a wide range of trading instruments, including currencies, stocks, metals, indices, commodities, cryptocurrencies, ETFs, OTC trading, and composites

Q: Does OLYMPTRADE offer a demo account？

A: Yes, OLYMPTRADE offers a demo account that allows clients to practice trading in a risk-free environment with virtual funds.

Q: What trading platforms does OLYMPTRADE offer？

A: OLYMPTRADE offers their our trading platform.