BOARD

Execution report section

29 June 2016

Perhaps because currencies are THE oldest asset around, spot foreign exchange trading remained over the counter (OTC) over the years and has yet to move onto regulated exchanges the way other asset classes (think spot equities, futures, interest rates, etc.) have long done.

When it comes to the independent traders, this is bad news. OTC trading is OK as long as between it’s equals (think GS vs. UBS) who trade with (e.g. bet against) each other. 2-sided bets between market makers simultaneously set the prices at which they bet against more vulnerable retail counterparts was bound to enjoy a bad reputation. A party plays the game (takes risk) and is the referee (sets the prices!) for the outcome of the game is further compound by the fact that a dealer knows A LOT more about its customers than its customers know about said dealer:

  1. The trader’s balance (how long can he hold on to a position?)
  2. The traders track-record (is he any good?, what’s his trading pattern?)
  3. Any stop-losses etc.

In short, as a retail trader, trading against a retail market maker is engaging an asymmetric battle on several accounts:

  1. Information (the dealer knows more about the retail trader than the retail trader knows about the dealer)
  2. Experience – the average life of a retail trader is counted in months
  3. Capital – as someone once put it, “the market can stay irrational a lot longer than you can stay solvent” (especially if you trade 500:1 leverage 🙂
  4. Last look / re-quotes: dealers unilaterally reserve the right to reject / re-quote trades on the feed they publish in the first place

Yes, there is regulation to prevent abuse, and it works in respectable jurisdictions: no-one forces traders into ill-advised high leverage trades that blow accounts. But regardless, forex “brokers” (note, most forex “brokers” are actually making markets, and the word that describes that activity is dealing, not brokering!) don’t enjoy presumption of innocence. The moment a trade doesn’t go as planned (e.g. yielding a handsome profit), even DMA brokers like Darwinex regularly receive accusations of execution malpractice – unsurprising given how prone to abuse the system is.

There’s only two recipes to prove our innocence:

  1. Incentives: as a pure broker (click here to learn how to tell a broker from a broker-dealer / market maker) our allegiance is 100% with our trading customers. We have NOTHING to gain from deliberately filling a client’s order other than at the best available market price. Whenever customers get slipped, it’s because we got slipped.
  2. Transparency: from this point onwards, we will provide every Darwinex customer with EVERY detail on EACH order traded.

Where’s my Execution Report?

To access your Execution Quality section, log in at Darwinex.com –> Click Trading Accounts  –> Click the relevant account’s name. You’ll find the new tab at the bottom of your strategy’s report.

Note: this section is only available for Darwinex live account holders. 

What detail?

See below screenshot!

For each trade, the report contains:

  1. Prevailing BID & ASK price at the precise ms timestamp for each trade
  2. Execution speed in milliseconds, tracking the time lapsing since your order reaches our routing engine until we receive fill confirmation from the LP.
  3. Negative / positive slippage (if any) tracking the difference between requested and achieved fill price, both in terms of price and pips.

Note: Data are updated every weekend to avoid excessive requests to our servers during weekdays.

What’s next?

We’re working on several upgrades! Feel free to suggest features / charts / filters you’d like us to develop.

Do you have any question about the new execution section? Feel free to contact us at info@darwinex.com!

Last News

Amended Trading Hours for Australia Day (26 January 2021)

21 January 2021

Please be aware that Australia Day will be held on 26 January 2021. Kindly note that during this time spreads may be wider and liquidity may be thinner. Also, the following amended trading hours will apply. Indices  Tuesday 26 January 2021 AUS200 06:11 – 22:00 UTC The rest of the assets will trade according to their usual […]

Please be aware that Australia Day will be held on 26 January 2021. Kindly note that during this time spreads may be wider and liquidity may be thinner.

Also, the following amended trading hours will apply.

Indices  Tuesday 26 January 2021
AUS200 06:11 – 22:00 UTC

The rest of the assets will trade according to their usual trading time.

See the full calendar of amended trading hours.

As always, at info@darwinex.com we’ll be happy to assist you!

Trading Hours for the US Martin Luther King Day on 18 January 2021

11 January 2021

Please note the amended trading hours that will apply on Monday 18 January 2021.

Please note the amended trading hours that will apply on Monday 18 January 2021.

🕤 All times in the following table are UTC (Coordinated Universal Time).
⚠️ During bank holidays spreads may be wider and liquidity may be thinner. They usually also give rise to changes to the applicable swap rates.
Commodities   Monday 18 January 2021
XAUUSD Early close at 17:43 UTC
XAGUSD Early close at 17:59 UTC
XTIUSD Early close 17:44 UTC
XNGUSD Early close 17:44 UTC
Indices
J225 Early close at 17:58 UTC
SPX500 Early close at 17:58 UTC
NDX Early close at 17:58 UTC
WS30 Early close at 17:58 UTC
US Stocks
All US stocks Closed

 

 

 

 

Related information:

As always, at info@darwinex.com we’ll be happy to assist you!

brexit

Brexit, the endgame: what you need to know in a no-deal Brexit scenario

16 December 2020

With the year coming to an end and Brexit coming into force on January 1st 2021, we would like to remind you that Darwinex is Brexit ready. Below are some updates for both existing and new customers. Please note that these will be relevant only in the case of a no-deal Brexit.

With the year coming to an end and Brexit coming into force on January 1st 2021, we would like to remind you that Darwinex is Brexit ready. Below are some updates for both existing and new customers. Please note that these will be relevant only in the case of a no-deal Brexit.

No-deal Brexit for existing EU customers

What changes in your relationship with FCA-regulated Darwinex in a no-deal Brexit scenario? In short: nothing, if you’re an existing customer.

  1. The FCA continues to protect your right to trade with us.
  2. Your monies remain with Santander UK, Natwest Bank or Sabadell UK in London.
  3. Your Funds enjoy FSCS deposit protection and Lloyd’s insurance for up to GBP 500,000.

Brexit doesn’t impair your right to trade with counterparties in 3rd countries outside the EU. You could trade with Australian brokers, you continue to enjoy the right to trade with UK brokers.

No-deal Brexit for new EU customers

For Darwinex, a no-deal Brexit scenario means restrictions to market to new EU customers with our FCA entity. We’ll shortly share details of our new license in the EU, which will offer identical conditions to our UK entity.

Our FCA-regulated UK entity will, in any case, continue accepting EU customers whenever reverse solicitation applies. Reverse solicitation means traders and investors approaching Darwinex on their own initiative and Darwinex not having solicited them to trade or invest.

We’ve recorded a podcast episode about Brexit and prepared a Brexit FAQ. Feel free to send to info@darwinex.com any questions you might have and we’ll answer them for everyone’s benefit!

Navidad

Darwinex Trading Hours for the 2020 Christmas & New Year Holiday Period

14 December 2020

The Darwinex Trading Schedule for the 2020 Christmas and New Year Holiday Period is already available in the calendar of Amended Darwinex Trading Hours.

Christmas is around the corner!

The Darwinex Trading Schedule for the 2020 Christmas and New Year Holiday Period is already available in the calendar of Amended Darwinex Trading Hours.

Note that during the Cristmas and New Year holiday period spreads may widen and swaps may be affected by the ‘turn’ effect. The ‘turn’ effect is a phenomenon that exists in financial markets which is caused by supply and demand for funding over key dates such as year or quarter-end. This can create anomalies in the forward curves for certain currencies, and we are already beginning to see this priced into the year-end swap points that we receive from our liquidity providers.

Further, you may want to check out what happens if you want to buy/sell a DARWIN which has underlying trades open with different opening/closing times.

As always, if you have any queries, please feel free to contact us at info@darwinex.com.

The Darwinex Team wishes you a Merry Xmas and a Happy New Year!

Trading Hours for the 2020 US Thanksgiving Holidays

17 November 2020

Please note the amended Darwinex trading hours for the upcoming US Thanksgiving holiday period on 26th and 27th of November 2020.

Please note the amended Darwinex trading hours for the upcoming US Thanksgiving holiday period on 26th and 27th of November 2020.

During bank holidays spreads may be wider and liquidity may be thinner. They usually also give rise to changes to the applicable swap rates.

All times are UTC.

 Instrument November 26th 2020 November 27th 2020
COMMODITIES
XAUUSD Close at 17:44:00
Close at 18:29:00
XAGUSD
Close at 17:59:50
Close at 18:14:50
XTIUSD
Close at 17:44:50
Close at 18:29:50
XNGUSD
Close at 17:44:50
Close at 18:29:50
INDICES
J225
Close at 18:00
Close at 18:15
SPX500
Close at 18:00
Close at 18:15
NDX
Close at 18:00
Close at 18:15
WS30
Close at 18:00
Close at 18:15
STOCKS
US Stocks Closed
Close at 17:59

The rest of the assets will trade according to their usual trading time.

As always, at info@darwinex.com we’ll be happy to assist you!

apalancamiento esma

NextEra Energy Stock Split 4:1

19 October 2020

The NextEra Energy stock split is approaching. At Darwinex we will apply the stock split on October 27th.

The NextEra Energy stock split is approaching. $NEE shares will be split 4-for-1. The number of shares will be multiplied by 4 and share prices divided by this same value.

At Darwinex we will apply the stock split on Tuesday October 27th at market open.

In live accounts we will adjust open position to the split without the need to close and reopen trades. Pending orders will be cancelled. In MT5, the hedged positions will be closed and the split will be applied to the resulting net position.

In demo accounts we will close all open positions in $NEE on Monday afternoon. Pending orders will be cancelled.

$NEE stocks will be available for trading from Tuesday, October 27th, at the post-split price.

As always, at info@darwinex.com we’ll be happy to assist you!

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.