Trader’s Way is this a scam? Review and Customers Reviews

Trader’s Way – broker with a variety of instruments, offering trading in STP, ECN, NDD on several platforms. Everything here is quite loyal: there are no bans on scalping and hedging, the minimum deposits start from 10 dollars and even there are no territorial restrictions (moreover: everything is done to allow the trader to bypass public firewalls).

But what lies behind this “kindness” – is it really a desire to help the client or an attempt to reduce vigilance? Is Trader’s Way a scam or a serious service provider? Let’s find out.

 

Terms of trading with Trader’s Way

Trader’s Way is trading the 4 main asset types: cryptocurrency, forex, energy resources (commodities: oil and gas) and precious metals (silver, gold). In total, there are just over 100 assets.

Several types of accounts are offered:

• MT4.FIX (it is possible to disable swaps). Present in the list of available ones, but not offered at the registration stage. Opened in Euros and American Dollars. Instant (market) order execution, Stop Out at 40%, fixed spreads from 2 pts. All asset classes supported. No trade execution fees.
• MT4.VAR. All the same as above, but the spreads are floating from 0.7 pt. and 4 balance currencies are offered: Euros, American/Canadian Dollars and British Pounds.
• MT4.ECN. Opened in EUR, USD, CAD, GBP. Account with $3 commission per $100,000 turnover and low floating spreads from 0 pt. Swaps cannot be disabled. Stop out on 40%.
• MT5.ECN. It differs from the previous one only by another trading platform – MetaTrader 5.
• CT.ECN with the possibility of automatic trading (cAlgo algorithm) and a minimum initial deposit of 50 USD. Exclusively dollar account. Commission for a turnover of $100 000 – $3 for balance up to $500 million, $2.8 for balance from $500 to $1000 million, $2.5 for balance over $1000 million.

The minimum deposit in all cases is 10 euros/dollars. Transactions – from 0.01 lots (1 lot is equal to 100 000 units of base currency). Scalping and hedging are allowed.

Leverage depends on the amount on the balance: up to 5000 cu. – 1:1000, from 5000 up to 50 000 cu. – 1:500, from 50 000 to 60 000 – 1:400, from 60 000 to 70 000 – 1:300, from 70 000 to 80 000 – 1:200, from 80 000 to 100 000 – 1:150, over 100 000$. – 1:100.

Forex trading session lasts from 00:00 to 24:00 from Fri. to Thu. and to 23:00 on Fri. local time (Forex Trading). On the weekend you can trade indices, commodities, metals and energy.

Additionally VPS (remote trading terminal, managed by the central server of the company) with unlimited connection is provided. If you have a large number of transactions it can be received free of charge. For beginners there is a knowledge base with information on the basic concepts and principles of the forex and Forex markets. CFD (Forex Brokers). Online webinars on forex are held (Forex Trading Training). The analytics – only within the possibilities of the terminals (the broker himself does not provide it). Support is provided by phone (American number), email, chat-bot Telegram, 24/5 online chat on the site, as well as via the feedback form or communities in the social networks Facebook, Instagram, Twitter.

 

Platform tradersway.com

Broker tradersway.com The variety of trading platforms is convenient (in fact, the account classification is based on them). You can trade on MetaTrader 4, MetaTrader 5, cTrader (with cAlgo automatic trading and cMirror autotracking) and FxStat (automatic trading).

MT4 and MT5 support all types of devices (PC, mobile, tablets). The newer version differs from its predecessor in the expanded range of timeframes (M2, M3, M6, M10, M12, M20, H2, H3, H6, H8, H12) and in the possibility to take positions in already selected pairs in the Market Watch. However, MetaTrader 4, according to traders, is more productive and reveals fewer bugs. Plus it is available in an offline version (agent to download to your computer). CTrader – terminals are less popular, but have nevertheless good functionality:

• Execution of transactions “in one click”.
• Trading from a chart (all basic types: candlesticks, bars, lines) and in windows, several representation models (detached chart, one or more charts in one window).
• 14 time intervals, including M2, 4M, H12, zoom, scrolling.
• Own indicators (third-party, in contrast to MT4, are not loaded).
• Setting up a proxy connection for access from any territory (bypassing firewalls).
• ChartShots option – the ability to share screenshots of charts in 2 steps.
• Proprietary algorithmic platform for autotrading – cAlgo.

FxStat is an account monitoring system for social network trading and auto-trading. Features:

• Autocopying transactions.
• Creating a currency portfolio.
• Reporting (daily, weekly, monthly).
• E-mail notifications about every event (closing, opening orders, etc.).
• Risk Management.
• Trade in blocks and “1-click”.

Trading on any of the above platforms is available only after verification (confirmation) of identity and address. For this purpose, you provide scans of your documents.

Quotes from Traders Way Broker

The broker does not voice its liquidity providers and does not participate in ratings of online comparisons of quotes, so it is difficult to understand how accurate the figures it presents are. The only thing you can at least somewhat rely on are user reviews. But we will talk about them later.

 

Traders Way Demo Account

To avoid investing real money in an unfamiliar platform or a broker you don’t know yet, you can open a free demo account and practice on “doughnuts” (virtual currency). Trader’s Way also offers this opportunity. To do this, you have to register on the website tradersway.com (you will need to enter your Latin name, e-mail address, mobile number), choose the type of account and currency.

You will be given an account number and password to log in. Authorize and go to a personal account. The balance will be 50,000 conditional dollars for training. There is no time limit, but if you “lose” everything, you will need to open another training (demo) account.

 

TradersWay mobile app

Trader’s Way does not have its own mobile application – the broker uses MT4, 5 and cTrader software. The functionality is the same as on the desktop, the login is done using the login and password created when registering on the website. In some cases you will need to additionally choose the broker’s server (it has the same name).

 

Bonuses at Traders Way

On the first deposit into an account opened with tradersway.comYou can receive a cashback of 100%, which will be credited after confirmation of the transaction and sending a letter to the management service ([email protected]). Unfortunately, the broker does not specify the requirements for the bonus processing, which allows to withdraw it and the money earned with its help. Perhaps they will be listed in the letter confirming the activation of the promo.

In addition to shares, the company offers participation in affiliate programs with rewards for attracting new traders to the network. There is an opportunity to act as:

• Agent. You are given a unique agent link which you place on your resource. If a new user comes from you and registers on tradersway.com, you receive 25% from his commission on ECN accounts and 0.3 pts from currency pairs plus 0.004% for other account types.
• Representing broker (IB – Introducing Broker). An in-depth collaboration format where you do more to attract, but your commissions are higher.
• White Label Partner. You act under your own brand name, but everything you need (marketing materials, software, training) is provided to you by your broker. The profits from the trades of the traders connected to you are yours, except for the interest charged by Trader’s Way for your service.

 

Deposit and withdrawal

The following methods are available for depositing in Trader’s Way:

• Internal (within the same country) bank transfer.
• International transfers via Instacoins, FasaPay.
• Bank cards VISA, MasterCard (transactions through Cardbit, VLoad, Instacoins).
• Cryptocurrencies (Bitcoin, Litecoin, Ether, Ripple, USD, Coin, Tether, True USD).
• Topchange exchanger.
• Electronic wallets/systems Skrill, Neteller, Perfect Money.

The minimum amount, as already discussed, is $10. Commissions and fees from payment agents are your responsibility. Usually crediting takes a few minutes, but in the case of bank transfers can take up to 1-2 working days. Verification is required before making a deposit.

A much smaller number of methods are available for withdrawal: only domestic transfers, some cryptocurrencies (Bitcoin, Litecoin, Ether), international transfers FasaPay, Perfect Money, Skrill and Neteller systems. To receive the payment, you make a request (the “Withdrawal” section of your personal cabinet) and wait for its processing (up to 48 hours). Currency of transactions is dollar, and if your personal card/wallet/account is opened in other c.u., the conversion fee will be deducted. Please note that the method of withdrawal must coincide with the method of crediting (deposit).

 

Complaints about Trader’s Way

There are a lot of complaints about the broker on international feedbacks with moderation, where the broker’s representatives are present. The reasons are traditional: denial of payment (or simply ignoring requests for payment) and poor support service.

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The regulator of the broker TradersWay

The privacy policy lists TW Corp. as the company processing the personal data of the tradersway.com user. We did not find any other legal names in the documentation or on the web pages. So we can assume that it is the owner of the resource. But there is almost no information about it in official registries and on the web (browsers). So Trader’s Way is an offshore (underground) broker without a license and maybe even without registration.

Documents from tradersway.com:

• Terms and Conditions (See);
• User Agreement (See);
• Privacy Policy (See).

Tradersway.com User Agreement

The Customer Agreement of tradersway.com is available in English only. Let’s translate and summarize some provisions of the document so that you can get an idea of it. Paragraph 8, for example, says that you must provide accurate and truthful information about yourself and notify the company in writing immediately of any changes.

The market quotations provided by the broker can differ from those specified in other sources. The company does not give any guarantees of the real reflection of market changes (clause 9.1).

In addition, the broker reserves the exclusive right to limit the number of positions opened by the client or simply refuse to open an offer (clause 9.4).

Verbal information provided by company representatives can also be unverified and incomplete. As stated in the agreement, this is due to transmission delays and other factors outside the provider’s area of responsibility (clause 13).

Except for cases of fraud, Trader’s Way and partners are not responsible for any losses incurred by you due to the use of the website and trading terminals. On the contrary, you undertake to compensate any expenses, which the company incurred as a result of maintenance of your account (clause 15).

 

Is Trader’s Way a scam?

Trader’s Way – an underground broker, about which not much is known. The company owner is only glimpsed in the privacy policy (and there is no guarantee that it really is the owner), there are no licenses, no registration information either.

In addition, the user agreement (which, by the way, does not contain references to the legal entity or even jurisdiction) is designed so that the provider does not have any obligations to you: in case of disagreements it is not so difficult to refer to technical failures and server delays, and all these factors, according to public documentation, are not grounds for compensation of funds to the client. And, although the trading conditions at the broker are good, you cannot be completely sure that Trader’s Way is not a scam.

 

Conclusion

Trader’s Way offers a wide range of platforms and instruments and allows its clients to use techniques such as scalping and hedging. Besides, you can choose that trading model, which is closer to you (ECN, STP, NDD), but not the one, which is usually imposed by brokers. Plus the minimum deposit here is only 10 dollars, which allows you to test the terminals even on paid accounts without unnecessary risk (not to mention the fact that there is an opportunity to create a demo account).

However, such favorable conditions have a downside: you are completely unprotected in the event of problems. In the company’s legal documentation, almost all disputes are interpreted in its favor. And it will be quite difficult to prove anything. And there are no guarantees that the connection with the representatives of the organization will be permanent, because the phone multichannel, and the office address and company details are not presented. Therefore it is recommended to treat this representative of the market with caution and if possible trade small amounts at least the first few months, so as not to expose yourself to unnecessary risk.