TradersWay Review 2021Minimum Spread : ECN
Foundation Year : 2010
Min Deposit $ 10
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A broker has key responsibility, and that is, to act as a link that exists between the customer and the market. The scam broker tradersway fails this given responsibility with more than distinction. The scam broker provides very little or no information on the running website, about the offered account types and makes no effort in creating even a small database for the education and research material tabs. Let’s read about the scam broker in more detail.
Tradersway: Education and resources
The broker hysterically fails to provide any type of relevant information for the trader’s education. After ensuring that the trader is relatively new to the market, the broker starts promoting CFDs. We have focused on this a lot in the past, but, forex and CFDs are both extremely risk-inoculated trading instruments. The integration of the two is bound to bring the trader on its knees.
The “new to the market” tab under the education and resources section is the only place that can give a less than indicating idea, that it is actually what the name suggests. This section also shuts itself up when it comes to the required skillset of a trader that would increase it in a better one.
The sub-sections’ ill-titled headings look like the work of some high school intern who was hired in a state of urgency. The scam broker completely fails to attract traders based on educational material it has to provide supposedly.
The users have first to register themselves, ensuring that they are now a leader and not a visitor. Only then, the broker gives them access to a pathetic excuse of webinars and Mayan-era economic calendars.
The scam broker, via its website that literally looks like a C minus high school project, badly fails to give concrete or even little crumbs about where it came from. The fraud broker tells the traders that it was a “group of professionals” that made the brokerage. Well, not to compare but Bin laden was also an Engineer. The broker further claims that everyone who belongs to the so-called group wants trading to be hassle-free. If they are so much into making the world a better place, then why not do it with an actual identity?
TradersWay: Tradable assets
Firstly, the broker has less than five assets to offer to trade. Then, the link that each of these names has is a redirection to a page that has information that can be found on the internet by a six-year-old. We guess that is the target population of the broker.
An ideal broker tells the story behind each face of the coin. This scam broker goes on to tell the story of how the coin is manufactured, not how it is earned.
The broker also does not give any information about the basics of how a particular asset can be traded profitably.
When the trader, for instance, looks at Bitcoin, the scam broker starts talking about blockchain. This looks like the broker is promoting a product, not actually telling the trader how Bitcoin can be used to make profits and how it fluctuates in seconds.
Tradesway: Account types
The scam broker supposedly offers four trading accounts and ensure that the novice is infatuated with this presentation. Tradersway does not tell what leverage it offers but very clearly tells the spreads it will ask and the commission that will be charged.
The broker offers four chief trading accounts to its users and makes sure that the user is astounded by its looks. The broker fails to provide any relevant information about each account on the home page but does not forget to mention that it charges spreads and commissions.
The scam broker mentions the trading platform for each account but as already stated, completely omits the presence of leverage that can possibly be there.
Scam brokers miss out on leverage information and then move it as they feel like. We recommend our traders not to fall prey to any such thing.
The supposed broker claims to provide its users with two so-called major trading platforms. MT4 and MT5. The broker claims to integrate the platforms with its own so-called indigenous tool.
The tool no one has ever heard of, the tool that the broker wants to test on novice traders. These are actual people, not lab monkeys. The broker clearly does not understand this.
The already old platform with a self-induced tool is a chaotic situation for the trader and sadly, unavoidable too. The broker completely disowns the fact that MT5 is already rolled out in the market, and the traders can use it for good.
The scam broker completely fails to provide anything that resembles a real proof of the regulation. On top of it, the broker goes on to add a private office address which is more than a clear violation of rules set by the EU.
A first time visitor is left with no idea about where to look for the regulation section because the broker is camouflaged it pretty well. No offshore regulation, no regulatory body, no license number.
Everything is just not there where it should be, ideally. An unregulated broker can be very bad for the traders and witness cases like insider trading, money laundering, and god knows what.
A responsible trader should always be on a lookout for such brokers and move away ASAP as such brokers tend to eat the trader and the suck his or her account dry.
The liquidity game:
The scam broker goes ahead and claims that it is not an NDD broker. This, in laymen terms, indicates the involvement of a third party in the money-making part. Such liquidity providers tend to move markets as they want, and no trader is in a place of making money when they are present. On the other hand, the scam brokers, on the other hand, start acting as the personal brokers to the liquidity providers, all these brokers should be avoided at the cost of anything.
Deposits and withdrawals:
The scam broker deliberately misses out on the information about the transaction time any order will take. It doesn’t matter if the order is a withdrawal or deposit. By the look of it, we can safely predict that transactions will either not happen, or will take a more time than theory should take.
Tradersway also hides that which third parties are the part of payments. Ideally, a payment’s gateway provider is a part of the loop, but the broker clearly fails to give concrete proof of any such presence or any such body.
Tradersway is a complete scam, and no trader should ever get involved with the so-called trading firm. The website is shoved with pop-ups, and the user will 100 % get confused while moving around.
We recommend our responsible and novice traders to take their business elsewhere. A reliable broker acts as a link between a trader and his profits.
Frequently asked questions:
Can I lose my money while trading from Tradersway?
Yes, of course. If that hasn’t happened yet, be a smart trader and move.
Where else can I take my business?
To a more reliable broker and more importantly, a properly regulated one.
Brokers like TradeATF, PrimeFin etc. have been making huge pounds in the market, and we recommend you to trade with them.
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