The Darwinex Darwinia has seen a lot of changes over the years. It has grown from a €320,000 competition to one where €5M will be shared across 80 traders.
On the 30th of July, Darwinex announced that 80 Darwins will now share a maximum of €5M from the August 2019 version of the Darwinia.
The statement from Darwinex says:
From the August 2019 edition onwards of the trading competition DarwinIA, we’ll allocate a maximum of€5,000,000.00 of notional capital between the winning 80 DARWINs. We’ll thus increase by half a million the maximum allocation and by 20 the number of DARWINs which recieve an allocation each month.
The August 2019 edition will close the 4th year of DarwinIA. We started our monthly trading competition in September 2015. In that first edition we allocated a total of €320,000.00 of notional capital to the 16 winnings DARWINs. Amongst the winners there were DARWINs which would later become classics such as NTI, ERQ or LZL.
Over the 4 years, we have modified both the structure as well as the amount of the prizes, until we have reached the 5 million that we are now announcing.
The competition remains true to its original aim: to have the highest number possible of traders opt to receive a 20% performance fee of investor capital. Furthermore, the allocation forces the traders to face the psychological challenge of managing third party capital and prepare for when the investment volumes increase.
At present, almost 25% of the DARWINs have managed to win a prize with a total of more than $2million in paid performance fees.
The additional half a million will go to the new 20 winning DARWINs each month, with a maximum allocation of €25,000.00 for each one. The number of DARWINs which will receive a DarwinIA allocation will go from 60 to 80. By this means, we will continue to increase the percentage of DARWINs which manage to win a prize in DarwinIA.
This news will be gladly welcomed by many traders that have found themselves missing out by a few places in the past.