Forex Broker Reviews

Traders Way Broker Review

About the company

Tradersway is operating a no dealing desk straight through processing business model, providing traders with a range of interesting trading opportunities. To be specific, Tradersway offers markets in Forex, Stocks, Energies, Commodities, and Metals industry using a MetaTrader 4 platform. The company has no limits you can sign up to four different account types within the same broker.

The company was founded in 2010 as an offshore broker, registered in the Commonwealth of Dominica, an Island country located in the Caribbean Sea. Dominica has a wide range of offshore services and with the passing of the International Business Companies (IBC) act in 1996 it has become an attractive location for offshore company formations. There are certain international banking regulations to which all companies operating out of Dominica are bound, however, Forex Businesses are not regulated at this time.

It is accepted as the truth that no regulation can protect you from dealing manipulation, however, misuse of client funds, or the company going bankrupt; without proper regulation, this means the company would not be liable for losses incurred by its clients in cases of insolvency. There are some countries that strive to put some certainty in the FX market in their jurisdiction. Money rules and minimum capital requirements are set in the US, Japan, Australia, UK, Cyprus, and others. Brokers in these countries are required to report all trades and comply with various procedures which includes a compensation scheme in case of broker going bankrupt.

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why choose TradersWay

Low Initial Deposit

There is actually no minimum deposit for trader’s way, making the broker quite attractive and accessible for all kinds of traders. Most offshore brokers do not require high initial amounts, which is reasonable considering the lack of regulation.

Various account types

The company offers it’s clients a selection of account types to make sure traders of all levels and preferences are taken care of. There are two ECN account types available on two different platforms, offering tight spreads with small commission fees. There are also two MetaTrader 4 commission free accounts with no minimum deposit requirement, one of which offers fixed spreads and the other one offering floating spreads. Swap-free service is available on both commission-free accounts to clients of Islamic believers who are not willing to earn interest for religious reasons.

Low spreads and commissions

The broker offers variable spreads and fixed spreads, with fixed spreads starting at 2 pips and variable spreads starting from 1.4 pips for the EUR/USD pair. As far as ECN accounts are concerned, the spreads are quite competitive and tight averaging from 0.5 pips on the EUR/USD with a small commission ranging from $2.5 to $3 per standard lot. Basically, this implies that the average trading costs amount around 1 pip.

High Leverage

The maximum leverage rates are extremely high with traders way with a maximum of 1:1000.

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Advanced and popular trading platforms

TradersWay offer services on two most popular trading platforms among traders worldwide; MetaTrader 4 and cTrader with multiple auto trading solutions.

cTrader is an award-winning multi-asset trading platform designed especially for ECN trading. Fast order entry and execution speeds with level 2 pricing are the top reasons why traders prefer to use cTrader for their trading. The cTrader suite offered by TradersWay has a pc application, a web, and mobile versions, as well access to cMirror and cAlgo.

Widely used payment systems

TradersWay clients are offered a wide range of payment systems in their convenience which includes: Skrill, Neteller, Perfect Money, WebMoney, Qiwi, MonetaRU, EasyPay, Boletto, CashU and others excluding Paypal.

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Summary

Despite the lack of regulation from the broker’s side, they have earned a 7-year reputation for their great quality service. They stated on their website that they keep funds in segregated accounts for security, that has also proven to be correct over the years as there has never been a case where traders couldn’t withdraw funds or issues with freezing accounts. Since regulation is a top priority factor, I honestly don’t believe its a good idea to deposit $100 000 in a non-regulated broker.

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