Home » Reviews » Darwinex
Broker Review Contents
Darwinex is a currency broker that also offers spread betting. They provide traders with access to a large range of assets in a number of markets, such as currencies and indexes.
- Segregates client funds
- Regulated by Financial Conduct Authority
- Min. deposit from $500
- Established in 2012
- Limited range of instruments
- Not ASIC Regulated (See alternatives)
Regulated by The Financial Conduct Authority in the United Kingdom (FRN: 586466), Darwinex keeps all customer funds in a separate bank account and works with tier-1 institutions to do so. Darwinex has been in operation since 2012, with headquarters in the United Kingdom.
A minimum deposit of $500 is required to create a live account. Alternatively, Darwinex provides a demo account that you may use to practise and become acquainted with their platform.
While we show you the specifics of Darwinex’s spreads, fees, platforms, and trading features, you might also want to open their webpage in a new tab by clicking the button below to get the most up-to-date information directly from Darwinex.
Full disclosure: We may receive a commission if you sign up with a broker using one of our links.
What are Darwinex’s spreads & fees?
Darwinex, like most brokers, charges a fee based on the spread, which is the difference between both the buy and sell prices of an asset.
The commissions and spreads shown here are based on the Darwinex website’s minimum spreads.
|EUR/USD(Average: 0.7 pips)||0.2 pips||0.7 pips||0.1 pips|
|GBP/USD(Average: 1.1 pips)||0.5 pips||1.7 pips||0.1 pips|
|USD/JPY(Average: 1.1 pips)||0.4 pips||0.6 pips||0.1 pips|
|AUD/USD(Average: 0.8 pips)||0.6 pips||0.6 pips||0.2 pips|
|USD/CHF(Average: 2.3 pips)||0.6 pips||2.3 pips||0.2 pips|
|USD/CAD(Average: 2.9 pips)||0.7 pips||0.5 pips||0.3 pips|
|NZD/USD(Average: 3.6 pips)||0.7 pips||2.8 pips||0.3 pips|
|EUR/GBP(Average: 2.4 pips)||0.6 pips||0.5 pips||0.1 pips|
Spreads are changeable and are provided solely for informational reasons.
As you can see, Darwinex’s minimum spread for trading EUR/USD is 0.2 pips – a significantly low spread when compared to the average EUR/USD spread of 0.70 pips. The table below shows how much it would cost to trade one lot of EUR/USD with Darwinex vs other brokers.
How much does Darwinex charge for a lot of EUR/USD trading?
If you bought one standard lot of EUR/USD (100,000 units) with Darwinex at 1.1719 and then sold it the next day at the same value, you would most likely pay $5.7. Here is a general summary of the fees and how they compare to IG and XTB.
|Spread from:||$ 2.00||$ 6.00||$ 2.00|
|Total cost of a 100k trade:||$ 5.00||$ 6.00||$ 2.00|
|$4 more||$3 less|
|VISIT DARWINEX||VISIT IG||VISIT XTB|
All fees/prices are for informational purposes and are subject to change.
What can you buy and sell on Darwinex?
Darwinex provides over 40 distinct trading instruments, including over 40 currency pairings. We’ve outlined all of Darwinex’s numerous sorts of instruments below, along with IG and XTB’s instruments for reference.
|FX / Currencies||Darwinex||IG||XTB|
|# of forex pairs offered||40||90||48|
|Major forex pairs||Yes||Yes||Yes|
|Minor forex pairs||Yes||Yes||Yes|
|Exotic forex pairs||Yes||Yes||Yes|
|# of commodities offered||34||21|
|Index & Stock CFDs||Darwinex||IG||XTB|
|# of stocks offered||8000||1606|
|SEE DARWINEX’S INSTRUMENTS||SEE IG’S INSTRUMENTS||SEE XTB’S|
What’s the Darwinex trading experience like?
1) Platforms and apps
Darwinex provides the well-known MT4 forex trading platform. See our MT4 broker comparison for a list of the best MT4 brokers. Darwinex also provides its own Social Trading platform.
They now have mobile apps for Android and iOS, making it simpler to monitor and execute transactions while on the go.
Still not sure?
2) Executing Trades
Darwinex allows you to trade with a minimum of 0.01 Lot. This may differ based on the type of account you register. The maximum trading requirements differ based on the trader and the instrument. Because they provide STP execution, you may anticipate narrower spreads and greater transparency in the price you pay to execute your trades.
Darwinex may have lower entrance criteria as a market maker than an ECN broker, which comes from a higher volume of transactions and usually has higher capital and minimum trading requirements. Market makers generally have a lower minimum deposit, lower minimum trade requirements, and no trading commission.
Margin requirements vary based on the trader, account, and instrument. The most recent margin requirements may be seen on their website.
Finally, we’ve included a list of some of the most common funding options available to their traders below.
- Offers STP
- Allows scalping
- Allows hedging
- Mini account
- Standard account
- Demo account
- Managed account
- Credit cards
- Bank Transfer
3) Client support
Darwinex is available in a variety of languages, including English, Spanish, Chinese, and French.
4) What you’ll need to open an account with Darwinex
Because Darwinex is regulated by the Financial Conduct Authority, every new customer must pass a few simple compliance tests to verify that you understand the risks of trading and that you are permitted to trade. When you establish an account, you will most likely be asked for the following information, so keep it handy:
- A scanned colour copy of your passport, driving license or national ID
- A utility bill or bank statement from the past three months showing your address
You’ll also need to respond to a few basic compliance inquiries to prove your trading expertise, so allow at least 10 minutes to finish the account opening procedure.
While you may be able to browse their platform immediately, it is crucial to note that you will not be able to execute any transactions until you pass compliance, which might take several days depending on your circumstances.
79% of retail investor accounts lose money when trading CFDs with this provider.