TradersWay Review 2021

by Mike Throttll last updated on July 9, 2020
Minimum Spread :   ECN
Foundation Year :   2010
Min Deposit :   $10
Broker Trusted Point+6
RECOMMENDED BROKER

Tradersway is a brokerage firm that offers trading opportunities only in the Forex market, crypto and commodities. You cannot trade stocks and indices with Tradersway. The broker is not authorised or regulated by any legit financial authority. Though Tradersway offers world-leading trading platforms MetaTrader 5(MT5) and MetaTrader 4(MT4), you can only trade in a few financial instruments. 

Tradersway provides clients with four account types: MT4 VAR., MT4 ECN., MT5 ECN. and CT. ECN. These account types are designed according to the experience of the trader, risk appetite and various other factors. Unfortunately, the broker does not offer educational or research tools for beginners. 

Regulatory body N/A
Minimum deposit $10
Trading platforms MT5, MT4 and cTrader
Overnight charges Yes
Currency conversion fee Yes
Islamic account N/A
Bank transfer Yes
E-wallet Yes
Asset classes Forex currency pairs, cryptocurrencies and metals
Total trading instruments 200+
Learning center  N/A
Customer support Email and Live chat

Pros and Cons

Pros

  • Variable and ECN account options
  • MetaTrader 5 (MT5) and cTrader
  • Leverage up to 1:1000
  • Spreads as low as 0
  • Hedging is allowed
  • DMA access
  • $10 minimum deposit

Cons

  • Not authorised or regulated
  • Stock and indices are not available
  • Limited CFDs
  • Bad reputation
  • Non-favourable trading environment

Is Tradersway a Scam: Regulations

Tradersway is a Dominica offshore forex brokerage firm. It does not hold any tier-1 license from the legit regulatory body. Non-authorised broker is seen as a significant red flag in the world of trading. A reputed forex broker like Brokereo is authorised by established financial authorities such as CySEC, BaFin, FSC and more. 

Despite no regulation, the broker claims the safety of clients’ on its own. But you cannot rely on such promises. The broker must have a license from a well-reputed forex regulatory body to assure clients that their hard-earned money is secured. 

One can ensure data safety as Tradersway provides the most secured trading platform, MT5, with solid encryption.  

Tradersway Accounts

Trading account types

Tradersway offers four kinds of trading account. You can choose according to your experience and how much risk you are willing to take. The four trading accounts are MT4 VAR., MT4 ECN., MT5 ECN. and CT. ECN. Let’s discuss the features of each trading account in detail. 

Tradersway also provides a demo account for practise trading. Traders (both beginners and experts) often use a demo account to get familiar with the market conditions and trading platforms, tools, charts and various purposes. 

MT4 VAR. trading account

  • Spread as low as 0.7 pips
  • $10 Minimum deposit
  • No commission
  • Leverage up to 1:1000
  • Market order execution
  • Deposit currency: USD, EUR, CAD, GBP 

MT4 ECN. trading account 

  • Spread as low as 0 pips
  • $10 Minimum deposit
  • Commission on withdrawal
  • Leverage up to 1:1000
  • Market order execution
  • Deposit currency: USD, EUR, CAD, GBP 

MT5 ECN. trading account

  • Spread as low as 0 pips
  • $10 Minimum deposit
  • Commission on withdrawals
  • Leverage up to 1:1000
  • Market order execution
  • Deposit currency: USD and EUR
  • No swap available

CT. ECN. trading account

  • Spread as low as 0 pips
  • $10 Minimum deposit
  • Commission on withdrawals
  • Leverage up to 1:500
  • Market order execution
  • Deposit currency: USD 

TradersWay registration

Account opening

You can open a trading account with the broker by entering the required details, including your name, email, preferred account type, birth date and phone number. Then, submit the form for verification. Once the verification process is over, and your account gets activated. Then, you can fund your trading account with the minimum initial deposit and start trading. 

Trading platform

Tradersway provides access to various trading platforms, including MetaTrader 5 (MT5), MetaTrader 4 (MT4), cTrader and WebTerminal. You can also get the MT5 and MT4 apps on a smartphone. 

MetaTrader 5

MT5 is an advanced trading platform on which you can use multiple tools to take your trading game to the next level. MT5 helps you to get on the path of modern-day trading. This platform is compatible with all devices from PC to mobiles.  

  • A large number of functions 
  • Access multiple timeframes at the same time
  • Instant order execution
  • Hedging with multiple positions
  • A large number of indicators and analytical tools
  • User-friendly interface with EAs
  • Economic calendar, news events and forecasts

Trader's Way Platforms

MetaTrader 4

MetaTrader 4 is the world’s most popular and widely used trading platform. The distinctive characteristics of this award-winning trading platform are well-known. All devices, including Android, iOS, Windows on PC, and Mac OS X, are compatible with the MT4 software.

  • One-click operations
  • Easy navigation
  • More than 60 professional analytical tools
  • Highly encrypted
  • Instant updates and news alerts
  • Compatible with iOS and Android

cTrader

cTrader is designed for ECN trading. cTrader is highly effective for each level of trader. In addition, you can trade directly with prominent banks.

  • Level 2 pricing
  • Multilingual support in 14 languages
  • cTrader charting
  • Chart shots
  • 14 timeframes
  • Custom indicators

Other trading platforms

Tradersway also offers other trading platforms and features, including Web terminal, cAlgo, cMirror, VPS hosting service. 

Trading instruments

Through the brokerage service Tradersway, you can trade in a variety of foreign markets. Forex currency pairs, cryptocurrencies, and commodities are just a few of the asset types available.

Forex trading: Major currency pairs, including majors and exotics, are accessible, ranging from USD/EUR to AUD/USD. Tight spreads and adjustable leverage with the broker might help you take your forex trading to the next level.

Cryptocurrencies: You can trade in all major cryptocurrencies with Tradersway.

Commodities: Tradersway offers derivatives trading on all commodities, including precious metals like gold, silver, and platinum, as well as Brent oil and natural gas.

The broker does not offer trading in stocks and indices. However, if you want to do stock trading, you can enjoy tight spreads and flexible leverage under favourable trading conditions with the Capixal brokerage firm. 

Commission and spreads

Tradersway does not provide commission spreads. On average, you have to pay more than $10 commission on trading. In lower account tiers, you cannot access tight spreads.  There is no commission on standard account spreads. Tradersway provides very high spreads for currency pairs, which are not likely to be favourable to earn higher returns. 

Leverage 

The maximum leverage you can utilise with Tradersway is 1:1000 in variable and ECN accounts. For cTrader accounts, the leverage is available up to 1:500. 

You can open a big position with less capital in your trading account. But be aware of the significant risks associated with leveraged trading. 

Deposit and withdrawals

The payment options for deposits and withdrawals offered by Tradersway are Credit cards, Debit Cards via Bank Wire transfer, Bank Transfer (Abra), Bitcoin, Ripple, Vload, Tether (USDT), TrueUSD (TUSD), USD Coin, Skrill, Neteller, Perfect Money, FasaPay. 

You can open your account with a minimum initial deposit of $10. The withdrawal process may take up to 3 days. The broker charges a commission on withdrawals varying the payment methods and trading account types. 

Educational and research support

There is not much to expect from educational and research sources from Tradersway. The broker does not offer a proper learning center for novice traders like other brokers such as Brokereo

You can use an economic calendar, market info and attend webinars as a research or educational tool with Tradersway.

Customer support

Tradersway offers multilingual support in 14 languages. You can get in touch with the helpdesk members via live chat, email and phone. The enquiry process takes up to 24 hours. So you can expect your issue to be solved within 24 hours. 

Contact info of Tradersway:

Final Verdict

The bottom line is that Tradersway is not a reliable broker as a well-reputed financial authority does not regulate it. This is the major red flag for traders if they are concerned with the safety of their capital. Though you can trade through an advanced trading platform MetaTrader 5, you can trade in stocks and indices. 

If you want to trade in secured and favourable conditions, you can choose a broker that gives you nuanced learning resources and should be highly regulated, like the reputed brokerage firm ABinvesting.

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