Darwinex Users can Now Trade US-listed Stocks & Futures
On Monday 10th May, Darwinex announced the launch of stocks and futures trading on the platform, via an exclusive interview with Finance Magnates. The move is one of the platform’s recent ventures to increase its global clientele base and will give users access to almost all the popular US-listed stocks. Furthermore, the new addition also entails over 60 futures contracts.
While speaking to Finance Magnates, Juan Colon- Darwinex’s co-founder and CEO- credited much of the broker’s success to the 5000+ active clients on the platform. “We’ve built and matured front-to-back technology to eliminate friction between capital and talent, thanks in large part to the never-ending support of and feedback from over 5,000 active clients.”
The new extension to stocks and futures trading will reflect on the company’s existing Trader Workstation Platforms. Besides, the feature will be added to all third-party platforms supported by the TWS, such as NinjaTrader.
Supported Stocks & Derivatives
Darwinex users will now have an impressive collection of stock markets to choose from when trading. Clients can trade in any of the stocks listed on the major exchanges, including NASDAQ, NYSE, MEMX, CHX, IEX, BYX, EDGE, BATS, ARCA, AMEX, PINK, and LTSE.
Darwinex will support derivatives from EUREX, IPE, CBOE, CM, and ICE.
Besides the extension to include US stocks and futures trading, Darwinex also expanded the available order types. Users on the platform now have a wide range for their trades, from basic limits to complex algorithmic trading. The additional options will make it easier for users to improve the execution and price, as well as limit their risks while trading.
The new additions will increase the tradable assets available on the platform, bringing the total to six. Previously, clients could trade in four financial assets; forex (42 currency pairs), index CFDs (10), CFDs on commodities (4 US-denominated), and direct market access to 30 DJIA constituent stocks.
Darwinex is a social trading broker and asset manager based in the UK. The brokerage firm is regulated by the UK’s Financial Conduct Authority (FCA) and holds a MiFID passport that allows it to deliver services to all EU countries.
Following the rising concerns over Brexit in 2019, the broker applied for a Spanish license to continue its operations in the EU. It is yet to commence operations under the new regulator, CNMV, despite the expectation to get the approval within a few months.
ESMA restrictions led to a 19% dip in the broker’s revenue in 2019. The strict regulations saw Darwinex and other brokers in the region drop welcome bonuses and other incentives, which significantly reduced the trading volume. Darwinex, however, was able to correct the revenue drop and registered a 72% jump in revenue to have the total turnover for the FY2020 at €4.69 million.
Darwinex was formerly known as Tradeslide, and is a hub for social copy-trading solutions. The firm offers a bunch of brokerage services to over 3000 clients in 80+ countries across the globe.
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