REVIEWS
TradersWay Review 2022
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What Is Tradersway?
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 | Cons |
|---|---|
| • Client funds are stored in segregated accounts | • Not regulated by any financial regulator |
| • Operating with top-tier financial institutions | • High non-trading fees |
| • In compliance with the Anti-Money Laundering Policy (AML) | • Customer service is not available 24\7 |
| • Applies the Know-Your-Customer Policy to all clients | • Only floating spreads available |
| • Different trading account provided | |
| • Low minimum deposit | |
| • Commission charged for MT5 and cT ECN Accounts | |
| • No inactivity fee charged |
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.
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Safety & Regulation
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 Or A Scam?
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 | Cons |
|---|---|
| • Client funds are stored in segregated accounts | • Not regulated by any financial regulator |
| • Operating with top-tier financial institutions | |
| • In compliance with the Anti-Money Laundering Policy (AML) | |
| • Applies the Know-Your-Customer Policy to all clients |
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.
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 | Cons |
|---|---|
| • No account fee | • The commission is charged from the cT ECN, MT5 ECN, and the MT4 ECN accounts |
| • The MT4 VAR trading account does not require any commission | • 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 |
TradersWay charges a commission of 3USD per 100,000USD.
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 | Cons |
|---|---|
| • Low minimum deposit | • Commissions charged for the MT4 ECN, the MT5 ECN, and the cT ECN trading account |
| • No maximum balance limitations | • No swap-free accounts available |
| • Demo Account provided for all trading accounts | • Variable spreads |
| • VPS available for all trading accounts |
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.
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.
Deposit & Withdrawal
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 | Cons |
|---|---|
| • Electronic payment is processed instantly | • Deposit fee required |
| • Fast deposit process | • Credit\Debit card deposits are slow processes |
| • Variety of account base currencies | |
| • Different payment options to select from |
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 | Cons |
|---|---|
| • Electronic payment is processed instantly | • Withdrawal fee required |
| • Fast withdrawal process | |
| • Range of account base currencies | |
| • Selection of payment options |
TradersWay Withdrawal Options
- Bank Wire Transfer
- Electronic Wallet
- Credit Card\Debit Card
Tradersway Trading Platforms
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 the 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 | Cons |
|---|---|
| • View portfolio and past performance | • No price alerts |
| • Easy to navigate design | • No two-step login |
| • Order confirmation provided | |
| • Available in several languages |
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 | Cons |
|---|---|
| • Price alerts available | • No two-step login available |
| • Various languages to slect from | |
| • User-friendly design | |
| • View portfolio and past financial transactions |
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 | Cons |
|---|---|
| • Able to activate price alerts | • No order confirmation |
| • Use the platform in different languages | • No facial and fingerprint recognition |
| • Simple design and navigation | |
| • Portfolio and past financial transactions available for viewing |
Markets & 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 | |||
| Energies | Cryptocurrencies | |||
| Pros | Cons |
|---|---|
| • All trading tools available for all trading account | • 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 | Cons |
|---|---|
| • Market Outlook is updated weekly | • Limited range of market research materials |
| • The economic calendar is updated daily | |
| • Able to look through past and future trading events |
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 | Cons |
|---|---|
| • Different means of communication | • Postal service takes time to respond |
| • Fast response | • Not available 24\7 |
| • Accommodating and patient staff | |
| • Relevant answers to questions |
Means Of Communication
- Live chat
- Phone support
- Email support
The customer service support of TradersWay is an accommodating and patient staff with a thorough response to any of your questions.
Client Education
TradersWay provides traders with an extensive catalog of educational resources to access for any knowledge relevant to trading. You will find videos, webinars, articles, and a practical approach.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.
| Pros | Cons |
|---|---|
| • Step-by step guide on trading platforms | • None |
| • Demo Account available | |
| • Trading Glossary |
Client Education Resources
- Platform tutorial videos
- Educational articles
- Webinars
- Trading Glossary
- Demo Account
Conclusion
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 and CFD trading broker that was established in 2008 and is currently headquartered in the Commonwealth of Dominica.
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 ensuring the safeguarding of any fraudulent misconduct.
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 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.
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.
Methodology
All brokers listed on our website are regulated by at least one financial regulator and have never been reported as a scam. We analyze more than 3000 data points across 8 key focus areas.
Our reviews are a combination of data research and working alongside the brokers. All information provided by the brokers are double-checked to guarantee 100% accuracy and that we remain unbiased.
2023 Review Methodology
For our 2023 Forex Broker Review, we assessed, rated, and ranked 45 international forex brokers over a three-month time period. Each broker was graded on 108 different variables and, in total, over 100,000 words of research were produced.
While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.
All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than 0.1% each year, providing site visitors with quality data they can trust. Learn more about how we test.
Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection, and market volatility that may substantially affect the price or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more at Wikipedia.
Chad Smith
Director of Research & Analysis
Chad Smith is the Director of Research & Analysis here at ForexBrokerListing.com.
Chad previously served as an Editor for a number of websites related to finance and trading, where he authored a significant number of published articles about trading and the impact of technology in transforming investing as we know it.
Overall, Chad is an active fintech and crypto industry researcher with more than 15 years of trading experience, and you can find him teaching his dog how to trade in his free time.