I have been with Darwinex for about 6 months now and is a recommended broker! Excellent Customer Service. Highly Recommended. I have tried with two other brokers and Darwinex is good, spread is very competitive.
1. Excellent customer service
2. Withdrawal is easy - up to 3 days wire transfer UK
3. No charge on deposits or withdrawals
4. Spread is very competitive and commission of 25 USD per million USD (50 round-trip) is good.
5. Their MT4 server is hosted at Equinix LD4, so once your trade reaches their MT4 server you should be in and out in 4 ms. BeaksFX offer VPS with X-Connect if you think internet latency is going to be an issue for your strategy.
1. I have observed Slippage!
Darwinex feedback was 'On slippage - we're a DMA broker so slippage is structural as explained here. Also, I would be weary of 'brokers' who don't have slippage, as explained in this webinar'
2. Their market opens at 22:05 instead of 22:00 GMT, which means I miss out of a few pips at the open.
Darwinex feedback was;
That's correct. The reason is that most traditional (and therefore trustworthy-ish) LPs do not start feeding properly until 22:05, and before that volatility can be too severe.
3. Their liquidity provider is LMAX and they are not really the best. I have observed unnecessary spikes at sometimes during news releases, when compared with other brokers for instance. I hope they soon move to or include other options. But, please do not take this as a very negative point as some of other brokers (market markets) are worse. They do this to hit your SL. So, as long as your SL are not too tight, above the S or R then you are fine.
All the best guys... Happy trading