Are you looking for how to copy a trader on Darwinex? Do you want to copy someone on Darwinex but not sure about how to get started? This article is for you.
Important Points Before Copying Someone on Darwinex
Before you start looking for how to copy someone on Darwinex, bear the following in mind.
You need a funded live investor account
So create your account, complete the checks and send money to your wallet and you are ready to go.
You need to be logged in to be able to copy a trader
You can use a demo account or live account but you obviously cannot copy someone on Darwinex as a guest.
Be careful with your chosen Darwins
You need to be certain that you have analysed the Darwin’s attributes properly if you are to make a profit. As at today, less than 40% of traders on Darwinex are profitable. Of those profitable traders, you can assume that less than 40% of them are good enough to be copied. So take your time.
Darwinex is different from other copy trading platforms
On other copy platforms, you copy whatever happens in the trader’s account. On Darwinex, you copy the Darwin created from activities in the trader’s account. Trades are not copied verbatim, only in line with the processes set by the Darwinex Risk Manager.
This means that if a trader generates 40% profit in a month with VAR at 40%, the Darwin will only risk 10% for the month, netting 10% returns. The same applies in a losing month. The Darwinex Risk Manager trades at 10% VAR monthly.
Similarly, if the trader is trading at 1% VAR, you can expect the Darwin to make 10 times the profit/loss.
You can read more on VAR and what it means in the Darwinex context.
So how do you copy someone on Darwinex?
To copy someone on Darwinex, the first thing you need to do is to find the trader’s Darwin. You can find the Darwin by using the search box at the top of the page as shown below.
When you have found the Darwin, click on it to bring up the Darwin page:
When you are on the Darwin’s page, click on Trade:
When you have clicked trade, the order window will pop up:
Now, choose “BUY” and enter the amount you’d like to invest on the Darwin or the amount you want to copy the trader with into the field.
The sum will be deducted from your wallet when you complete the process and you have started to copy the trader. Any future profits made by the trader will be reflected on your investment. When you are done with copying the trader, repeat the process but this time, choose sell and type in the amount you’d like to remove/withdraw from copying the trader.
Practical Example Of Copying A Darwin on Darwinex
Using the Darwin in our example HFD, if the Darwin returns 10% over the next three months after copying it, your money invested in the Darwin or the amount you are copying the trader with, would have grown by 10%.
This is assuming that the trader also operates at 10% VAR as we have discussed above and little or no negative divergence. Your profit will, however, be 80% of the amount realised because you will pay 20% of the profit as performance fee to the trader.
So, if you invested $10,000 on HFD and the Darwin returns 10% over the next three months, your profit will be $800!
Don’t know how to find Darwins to copy? You can use the preset Darwinex filters to find interesting ones.
Please use a demo investor account to understand everything before proceeding with live funds.