Since you are reading this article now, I assume that you are interested in Tradersway broker. In this Tradersway review, I tried to my best to introduce the company to you. So let’s begin with the basics!
Tradersway is based in the commonwealth of Dominica with the company name TW corp. Notice how this broker is headquartered in an off-shore island 73K population rather than big countries with sizeable population.
There are advantages and disadvantages of this, but we will cover the topic under license & regulation section of this Tradersway review article.
Is Tradersway scam or reliable? Which account types are more advantageous? Is Tradersway minimum deposit and spreads low enough? What is the maximum leverage that you can trade with?
All you need to do is continue reading this Tradersway review to get all the answers!
The website of Trader’s way gets 478K visitors monthly. If you ask me, this is remarkable number of visitors. However, the firm seems to be focused having customers from a certain country, United States. Because 57% of their visitors to website come from this country.
The other countries who are in top 5 are United Kingdom, South Africa, Canada and France. These countries make up additional 13% of the webite’s visitors.
I reviewed Tradersway based on the following criteria.
- Abundance of trading platforms
- Good customer service
- Not Regulated
- High spread for standard account
- Poor trading instruments
Licenses & Regulation
Licenses & Regulation
When it comes to Forex trading, one of the most important criteria is whether the broker regulated. Unfortunately Tradersway lacks regulation.
However, this alone doesn’t necessarily mean that the broker is scam. There are many positive customer feedbacks which can convince you to trade with the broker.
As you know, after the new measures of ESMA (European Securities and Markets Authority), the brokers who are registered in the zone of ESMA, can’t offer a leverage rate over 1:30.
So having licenses by the watchdogs who are subject to ESMA, such as FCA, CySEC doesn’t seem advantageous as before. So Tradersway can be a firm that wants to offer high leverages to traders who likes to takes risk rather than being a scam broker!
However it doesn’t the change the fact that if Tradersway had a license from FCA, your money would be 100% in safe.
Because FCA (Financial Conduct Authority) guarantees your money up to £50,000. You see? This tradersway review provides you some useful additional information.
Account Types & Spreads
Account Types & Spreads
I like to start this section of Tradersway review with demo account. I believe having an experience is important before real trading. So the broker offers you its demo account.
You can check their trading platforms and trading conditions with using Tradersway demo account.
There are five different account types. You can compare the account types by the image below. But I first want to point out some details here. For standard accounts, there isn’t a minimum deposit requirement, it’s really good thing.
There is $100 minimum deposit requirement for the Meta Trader 4 ECN account and Meta Trader 5 ECN account. The minimum deposit requirement for eTrader ECN account is $50.
For the standard account with fixed spread, the fixed spread value is quite high, 2 pips.
Do you want to risk money to earn more? Then 1:1000 leverage is for you. You can trade up to this leverage except the cTrader ECN account. In that account type the maximum leverage is 1:500.
I will try to tell every platform offered by the broker in this part of Tradersway review.
Meta Trader 4 & Meta Trader 5
The broker offers wide range of platforms. It includes the Forex industry’s standard software Meta Trader 4 and Meta Trader 5 platforms.
Moreover they have QuickDeal 2.0 tool which adds Market Depth Level 2 pricing and One-click features to MT4.
Another positive feature of Tradersway is that traders can use MT5 platform. As you know, it’s the more developed and latest version of MT4. The new version of the platform can be used with multiple languages. Additionally there are more than 80 indicators which will guide you during trading.
In recent years, the popularity of ECN trading is increased. So if you think of trading ECN with the broker, you can use the cTrader platform as well. They are many pros of the platform. Millisecond execution speed is one of them. Pricing in level 2. Also you won’t experience conflict of interest.
Also cTrader enables you to use its platform as Ctrader web in the browser of your computer. So you don’t need to install any software.
VPS Hosting Service
Have you ever heard of VPS service? It means Virtual Private Server and it will ensure that trading executions to continue 24/7 even if your computer or phone is broker or you have no internet connection.
Bonus & Promotion
Bonus & Promotion
Trader’s Way gives you opportunity to enjoy 100% bonus on your deposit. What you need to do is making a deposit, then you should choose amount of the bonus.
Later the money will be transacted to your trading account. However there is an upper limit that you can get this type of bonus. You won’t be able to get a bonus more than $5,000.
So we are at the final part of Tradersway review. I really consider quality of customer service before deciding to trade with a broker.
I find their customer service employees are quite helpful and fast to fill the knowledge I haven’t got about the firm. You can either e-mail them for your questions or call them directly.
There is one more option that you can contact them, ‘live chat’. But in fact I am pretty sure that their service isn’t a live chat but another way to send an e-mail to the firm. Because after you send your message, the only thing you see is a ‘tick’ sign which indicates that your message has been sent.
But let’s back to positive side of their customer service again. They create content in 10 languages for their website. These are English, Bahasa Indonesian, Bahasa Malaysian, Hindi, Chinese, Spanish, Polish, Persian, Arabic and finally Russian.
Tradersway is a broker that is hard to have a final conclusion. There are pros and cons of the broker and it’s hard to decide which side is stronger than other.
It’s a very popular broker in the USA but having no regulation is one of very important cons.
There are many different types of accounts. So I am quite sure you can find an account type that is attractive to you. But I find the spread value of standard account is quite high!
The abundance of trading platforms offered by the broker made me consider trading with this broker. As a trader who is experiencing power shortages often, I believe their VPS service is another con of the broker.
They even have a charming no deposit bonus.
So tell me, did you find this Tradersway review helpful? would you trade with this broker? Have you got any positive or negative experience with Tradersway? Please share it with us by commenting below!