Darwinex, an FCA-regulated social forex broker and trading platform, is to introduce 10% value at risk (VaR) Darwins (a trading strategy which can be followed by investors).
Recently, the platform operator announced the implementation of a new formula for the calculation of the VaR of a DARWIN (a trading strategy which can be followed by investors), lowering it to 10% a month.
Real money 20% VaR Darwins will be gradually discontinues, but all demo portfolios will be fully reset during the coming weekend. Real money 20% VaR Darwins cannot co-exist with 10% VaR ones in the new environment.
Due to the reset, traders will not be able to keep track record of their demo accounts. Those who want such a record can taje screenshot of their trading result before market close.
“We know this is a pain… but it’ll be worth it,” Darwinex said.
Darwinex was set up in 2012 as TradeSlide and was operating as a regulated investment adviser. In the spring of 2014, however, it overhauled its platform, obtained a broker license from UK’s regulator FCA and got rebranded Darwinex.
The social platform of the broker allows users to upload data on their performance and strategies, which are evaluated through a set of criteria and, if deemed eligible, turned into Darwins.