TradersWay Review 2020

TradersWay Summary

TradersWay is a CFD and Forex broker that was established in 2008 and headquartered in the Commonwealth of Dominica. This Forex broker stores client funds in segregated accounts and operate with a top-tier financial institution. You can choose from different trading accounts and select from a variety of financial markets to trade with. The different financial markets that are available for your trading account with this Forex broker are offered with low trading fees and non-existent non-trading fees.

This TradersWay review will provide an in-depth analysis of the different features available with this Forex broker.

TradersWay Main Features
🛍️Established in: 2008 🛍️Headquarters: Dominica
⚖️Regulations: Unregulated ⚖️Country of regulation: None
💰Minimum Deposit:
$10
🎮Platforms: MT4 ; MT5 ; cTrader
🎮Demo Account Available: Yes 💱Leverage: 1:1000
💰Withdrawal fee amount: Varies 💰Inactivity Fee:
No

Pros

  • Client funds are stored in segregated accounts
  • Operating with top-tier financial institutions
  • In compliance with the Anti-Money Laundering Policy (AML)
  • Applies the Know-Your-Customer Policy to all clients
  • Different trading account provided
  • Low minimum deposit
  • Variety of trading platforms offered
  • Demo Account available
  • Commission charged for MT5 and cT ECN Accounts
  • No inactivity fee charged

Cons

  • Not regulated by any financial regulator
  • High non-trading fees
  • Customer service is not available 24\7
  • Only floating spreads available

Background

TradersWay is a Forex trading broker that was established in 2008 and it is currently headquartered in the Commonwealth of Dominica. The aim of TradersWay is to spread limitless and free trading on a global scale, by providing the widest opportunities available in financial markets.

 

Safety & Regulation

TradersWay is a Forex trading broker that currently stores client funds in segregated accounts and collaborates with top-tier financial institutions. This Forex broker also complies with the Anti-Money Laundering Policy and the Know-Your-Customer Policy that ensures the safeguarding of any fraudulent misconduct.

This TradersWay review will provide you with the different safety measures available for you.

Is TradersWay Safe?

TradersWay offers its clients safety measures by storing their funds in segregated accounts with top-tier financial institutions to ensure the protection of funds.

Pros

  • Client funds are stored in segregated accounts
  • Operating with top-tier financial institutions
  • In compliance with the Anti-Money Laundering Policy (AML)
  • Applies the Know-Your-Customer Policy to all clients

Cons

  • Not regulated by any financial regulator

Regulation

TradersWay is currently working on being a regulated Forex broker.

Protection

In terms of protection, TradersWay complies with the Anti-Money Laundering Policy and the Know-Your-Customer Policy that ensures the safeguarding of any deceitful misconduct. The Know-Your-Customer Policy is a procedure that provides authentication for their clients to ensure that all clients are active traders and not fraudulence.

Awards

In 2013, TradersWay was awarded by the Global Banking & Finance Review awards in the categories of Best ECN Trading Platform Central Europe 2013 and Most Innovative ECN Broker Central Europe 2013.

 

TradersWay Fees

TradersWay charges a commission of 3USD per 100,000USD turnovers, except for the MT4 VAR trading account. In addition, you will be required to pay a deposit and withdrawal fee, depending on the payment method.

This TradersWay review will let you know about the trading fees and non-trading fees required from you.

Pros

  • No account fee
  • The MT4 VAR trading account does not require any commission

Cons

  • The commission is charged from the cT ECN, MT5 ECN, and the MT4 ECN accounts
  • High non-trading fees

Trading Fees

In terms of trading fees, you will be charged a commission for a different trading account. The cT ECN trading account charges a minimum commission starting from only 3 USD per 100,000 USD turnovers. As for the MT5 ECN trading account, it charges a minimum commission starting from only 3 USD per 100,000 USD turnovers. The MT4 ECN trading account charges a minimum commission starting from only 3 USD per 100,000 USD turnovers. On the other hand, the MT4 VAR trading account does not require any commission.

Non-Trading Fees

For TradersWay non-trading fees, you will be charged with a deposit and withdrawal fee that is required from you for each deposit and withdrawal you make. On the other hand, TradersWay does not charge an inactivity fee.

Leverage

TradersWay offers two different types of maximum leverage level for different trading accounts. The MT4 ECN, the MT4 VAR, and the MT5 ECN accounts provide a maximum leverage level up to 1:1000. On the other hand, the cT ECN trading account offers a maximum leverage level up to 1:500.

Deposit Fees and Withdrawal Fees
Deposit Fees Varies
Withdrawal Fees Varies

TradersWay Fees Compared To Competitors
TradersWay HugosWay Khwezi Trade
Account Fee No No No
Inactivity Fee No No No
Deposit Fee Varies 0USD 0USD
Withdrawal Fee Varies 0USD 0USD

Account Opening

There are four different trading accounts available for you to choose from, which are: the MT4 ECN, the MT5 ECN, the MT4 VAR, and the cT ECN trading account. Each trading account differs based on the type of trading platform you select to trade with.

This TradersWay review will provide a step-by-step guide on how to open a TradersWay live account.

Pros

  • Low minimum deposit
  • No maximum balance limitations
  • Demo Account provided for all trading accounts
  • VPS available for all trading accounts

Cons

  • Commissions charged for the MT4 ECN, the MT5 ECN, and the cT ECN trading account
  • No swap-free accounts available
  • Variable spreads

Minimum Deposit

All four different trading accounts require a minimum deposit of 10USD.

Accounts Types

  • MT4 VAR Account
  • MT4 ECN Account
  • MT5 ECN Account
  • cT ECN Account

TradersWay Accounts

TradersWay provides four trading accounts for all types of client trading experience. The MT4 ECN account is MetaTrader 4 ECN account with tight variable spread and commission. As for the MT4 VAR account, it is a standard account with variable spreads. The MT5 ECN Account is a MetaTrader 5 ECN account with tight variable spreads and commissions.  As for the cT ECN Account, it is a cTrader ECN account with tight variable spreads and commissions.

How To Open a TradersWay Trading Account

Step One: Fill in your personal information on the online application and choose whether you want a Live Account\Demo Account.

TradersWay -1

Fill in your personal information on the online application and choose whether you want a Live AccountDemo Account.

 

TradersWay -1(2)

Fill in your personal information on the online application and choose whether you want a Live AccountDemo Account.

Deposit & Withdrawal

TradersWay offers fast withdrawal and deposit processes with different account base currencies. This Forex trading broker also provides a variety of payment methods. However, you will have to consider the deposit and withdrawal fee that is required for each deposit and withdrawal.

This TradersWay review will provide you with the different funding options available.

Account Base Currencies

The available account base currencies TradersWay for all trading accounts are USD, EUR, CAD, GBP, and BTC.

Deposits

With TradersWay, you have to consider a deposit fee that varies, depending on your payment method. You have the three main payment options to choose from Bank Transfer, Credit\Debit Card, and Electronic Payment. Bank Transfer and Credit\Debit card options take from 1-2 business days, but Electronic Payments are processed instantly.

Pros

  • Electronic payment is processed instantly
  • Fast deposit process
  • Variety of account base currencies
  • Different payment options to select from

Cons

  • Deposit fee required
  • Credit\Debit card deposits are slow processes

TradersWay Deposit Options

  • Bank Wire Transfer
  • Electronic Wallet
  • Credit Card\Debit Card

Withdrawal

Withdrawals with TradersWay require a varied withdrawal fee, depending on your payment method. You can choose between the currencies of: USD, EUR, CAD, GBP, and BTC. as your base currency for your trading account. TradersWay offers three main payment options. Electronic payments are processed immediately, but withdrawal requests are processed between 1-2 business days for Bank Transfer and Credit\Debit cards.

Pros

  • Electronic payment is processed instantly
  • Fast withdrawal process
  • Range of account base currencies
  • Selection of payment options

Cons

  • Withdrawal fee required

TradersWay Withdrawal Options

  • Bank Wire Transfer
  • Electronic Wallet
  • Credit Card\Debit Card

 

Trading Platforms

TradersWay offers three different types of trading platforms: MetaTrader4, MetaTrader5, and cTrader. These three trading platforms are suited for a certain level of trader experience. The MT4 trading platform is more suitable for novice traders while the MT5 trading platform is better for advanced traders and traders who prefer algorithm trading. As for the cTrader trading platform, you will find it more appropriate for algorithmic traders.

This TradersWay review will provide an in-depth analysis of the MT4 trading platform, as an example of the trading platform features available for active traders.

  • MetaTrader4
  • MetaTrader5
  • cTrader

Web Trading Platform

The TradersWay web trading platform offers several different languages, from Arabic to Vietnamese. You will find that the basic order types are available, such as Market, Limit, Stop, Good ’til canceled (GTC), and Good ’til time (GTT). You can also view your whole trading portfolio and your past performance to keep track of your activity. However, you will not be able to activate price alerts on the TradersWay web trading platform. You also will not find the option of a two-step login process to ensure authentication of your username. The TradersWay web trading platform is very user-friendly and easy to navigate, but the design can be considered a bit outdated.

Pros

  • View portfolio and past performance
  • Easy to navigate design
  • Order confirmation provided
  • Available in several languages

Cons

  • No price alerts
  • No two-step login

Desktop Trading Platform

The TradersWay desktop trading platform provides you with the option of using the platform with your own language. With over 45 different languages available, you can use any of them as you trade on the MT4 desktop platform. There are only five basic types of orders available, which are all simple order types. The order types are: Market, Limit, Stop, Good Til Canceled (GTC), and Good Til Time (GTT). You will find that the desktop trading platform of TradersWay is very user-friendly and it is not complicated to navigate through. In addition, you can look through your portfolio and past financial transactions, along with activating price alerts as desktop notifications. On the other hand, you will not be able to use a two-step login process for authentication.

Pros

  • Price alerts available
  • Various languages to select from
  • User-friendly design
  • View portfolio and past financial transactions

Cons

  • No two-step login available

Mobile Trading Platform

The TradersWay MT4 mobile trading platform is available in several languages on the application. You will be to look through your complete past performance and activate price alerts via push notifications on your phone. The mobile application of TradersWay is very easy to navigate and the order types are very simple to use. You can use the five basic order types of: Market, Limit Stop, Good Til Canceled (GTC), Good Til Time (GTT). Since the application is for mobile devices, you can trade on the go without any worries. On the other hand, the MT4 mobile application does not provide order confirmation or fingerprint\facial recognition as a login process.

Pros

  • Able to activate price alerts
  • Use the platform in different languages
  • Simple design and navigation
  • Portfolio and past financial transactions available for viewing

Cons

  • No order confirmation
  • No facial and fingerprint recognition

Markets & Financial Instruments

TradersWay provides four different financial markets with over 55+ financial instruments. The financial instruments allow you to trade with currency pairs, metals, energies, and cryptocurrencies. TradersWay offers cryptocurrencies, which is a rare quality for Forex trading brokers.

This TradersWay review will list the different financial markets available for you to trade.

What TradersWay Offers
Forex Metals
Energies Cryptocurrencies

Markets Research & Trading Tools

Trading Tools

TradersWay tools that are available are the trading tools provided by the trading platforms. You will find that there are two types of trading tools: the MT4 trading tools and the MT5 trading tools.

TradersWay Tools
MT4 Trading Tools MT5 Trading Tools

Pros

  • All trading tools available for all trading accounts

Cons

  • Limited range of trading tools

Market Research

TradersWay offers two forms of market research for its traders that will enhance your trading knowledge and keep you up-to-date on trading events around the world. The two market research materials available are an economic calendar and a market outlook.

The market outlook provides a weekly currency outlook on the major Forex currencies. As for the economic calendar, you will be able to track the different trading events all around the world.

Pros

  • Market Outlook is updated weekly
  • The economic calendar is updated daily
  • Able to look through past and future trading events

Cons

  • Limited range of market research materials

 

Customer Service

The customer service support of TradersWay is an accommodating and patient staff with a thorough response to any of your questions. You can reach them via phone, email, or live chat. The customer service has a fast response and the team responds to your inquiries as fast and accurate as they can.

This TradersWay review will provide a list of the different means of communication.

Pros

  • Different means of communication
  • Fast response
  • Accommodating and patient staff
  • Relevant answers to questions

Cons

  • Postal service takes time to respond
  • Not available 24\7

Means Of Communication

    • Live chat
    • Phone support
    • Email support

 

Client Education

TradersWay offers two different types of client education resources to improve your trading knowledge, which are the Webinars and the Demo Account. The webinar is hosted by trading expert Wayne McDonell from Mondays through Fridays for clients to watch through.

This TradersWay review will provide a step-by-step guide on how to open a Demo Account.

The webinars provided by TradersWay tackle different real-time topics such as fundamental events, trader sentiment, support and resistance zone, possible trade setups, trading techniques, and a live Q&A. As for the Demo Account, it is a free hands-on approach that will allow traders to look into the makings of TradersWay in real-time and real market conditions without any financial risk.

Client Education Resources

  • Webinars
  • Demo Account

How To Open a Demo Account

Step One: Fill in your personal information on the online application and choose whether you want a Live Account\Demo Account.

TradersWay -1

Fill in your personal information on the online application and choose whether you want a Live AccountDemo Account.

TradersWay -1(2)

Fill in your personal information on the online application and choose whether you want a Live AccountDemo Account.

Conclusion

TradersWay is a Forex trading broker that was established in 2008 and it is currently headquartered in the Commonwealth of Dominica. The aim of TradersWay is to spread limitless and free trading on a global scale, by providing the widest opportunities available in financial markets.

TradersWay is a Forex trading broker that currently stores client funds in segregated accounts and collaborates with top-tier financial institutions. This Forex broker also complies with the Anti-Money Laundering Policy and the Know-Your-Customer Policy that ensures the safeguarding of any fraudulent misconduct.

Tradersway

$10
Min. Deposit
100%
Bonus
Regulated byUnregulated
Leverage1:1000
Customer Support24/5
Open Account

TradersWay Overall Performance

  • Safety and Regulation 98% 98%
  • Deposit and Withdrawal 98% 98%
  • Market Research & Trading Tools 97% 97%
  • Broker Fees 98% 98%
  • Trading Platforms 97% 97%
  • Customer Service 99% 99%
  • Account Opening 98% 98%
  • Market & Financial Instruments 97% 97%
  • Client Education 99% 99%

Frequently Asked Questions

Is TradersWay A Good Broker?

TradersWay is a CFD and Forex broker that was established in 2008 and headquartered in the Commonwealth of Dominica. This Forex broker stores client funds in segregated accounts and operate with top-tier financial institution. You can choose from different trading accounts and select from a variety of financial markets to trade with. The different financial markets that are available for your trading account with this Forex broker are offered with low trading fees and non-existent non-trading fees.

Is TradersWay Legit?

TradersWay is a legitimate Forex trading broker that currently stores client funds in segregated accounts and collaborates with top-tier financial institutions. This Forex broker also complies with the Anti-Money Laundering Policy and the Know-Your-Customer Policy that ensures the safeguarding of any fraudulent misconduct.

How Long Do Tradersway Withdrawals Take?

TradersWay withdrawals can take up to 48 hours or 2 business days.

What Is The Minimum Deposit For Tradersway?

The minimum deposit for TradersWay is 10USD or its currency equivalent.

Is TradersWay Regulated?

TradersWay is currently working on being a regulated Forex broker.

Is TradersWay An ECN Broker?

Yes, TradersWay is an ECN broker.

Is TradersWay Safe?

In terms of safety, TradersWay complies with the Anti-Money Laundering Policy and the Know-Your-Customer Policy that ensures the safeguarding of any deceitful misconduct. The Know-Your-Customer Policy is a procedure that provides authentication for their clients to ensure that all clients are active traders and not fraudulence.