It’s a new month with new opportunities and today FCA (UK) regulated FX strategy asset manager and STP broker Darwinex announced they have upgraded its DarwinIA challenge. DarwinIA is a monthly trading challenge that awards the most consistent traders on Darwinex. Starting in June, the firm will be allocating €1,000,000 to the most consistent DARWINS every month, this is a bump from €600,000 when first launched back in 2014. Allocations are for 6 months and traders will get a 20% performance fee.
DarwinIA answers HOW returns come about, by scanning every strategy for 6 core Investable Attributes that prove skill:
- Experience: were returns sustained for long enough to rule out luck?
- Discipline: does the strategy follow a pattern, deploying S/L and T/P?
- Risk Management: is there trade and strategy level risk management?
- Timing: if the strategy opened/closed trades slightly earlier/later would it make more/less?
- Performance: does it beat random strategies with comparable risk?
- Scalability: would returns scale if the strategy managed millions, instead of thousands of dollars?
Ranking Criteria…
DARWINEX LEVEL
This is the most important element. To level up, traders need to achieve good scores in all attributes simultaneously. D-SCORE. The D-Score is a weighted average of the scores achieved by the trader in each of the Investable Attributes.
DARWIN’S RETURN
The return made by the trader’s DARWIN during the month is taken into account.
ACTIVITY
The trader’s monthly trading activity is measured. Traders are penalised when they trade less frequently than they usually do.
Prizes…
ALLOCATION OF FUNDS
Every month, 1,000,000.00 € are allocated to the top 32 DARWINs for a 6 month period.
PERFORMANCE FEES
Traders receive 20 % performance fee on the profits achieved with the allocated funds (quarterly, on a high-watermark basis).
For more information on DarwinIA click here.