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TradersWay review and ratings

Established 2011
Location Dominica
Regulation None
Offices Roseau
Broker type MM | STP | ECN
Leverage up to 1:1000
Deposit from 5 USD
Spreads mid  mid
Platforms Web MetaTrader 4 MetaTrader 5 cTrader
Instruments Currencies Crypto Metals Energies
Funding methods Wire Transfer Credit Cards Skrill Neteller VLoad FasaPay WebMoney Perfect Money ePayments Bitcoin Ethereum Liteсoin Ripple UPayCard

Company information

TradersWay is a legally registered forex broker located in Dominica, but not regulated by any government agency.

Availability

TradersWay accepts clients from all over the world, excluding some countries where restrictions apply.

Distinctive features

Trading instruments

Forex broker offers the following underlying assets for trading.

45+ Currency Pairs Based on major and minor world currencies.
1 Crypto Pair Based on Bitcoin.
2 Metal Spot CFDs Based on Gold and Silver.
1 Energy Spot CFDs Based on Crude Oil (WTI).

Comprehensive review

TradersWay is an unregulated offshore forex & CFD broker that is based in Dominica, and registered under the name TW Corp. The broker’s aim has always been to provide traders with the widest opportunities available throughout all financial markets.

The broker was founded in 2011, and was recognized as “Best STP/ECN Broker” in 2014 by the Forex Report Awards. In addition, the well-known forex industry resource FXStreet awarded chief FX market strategist Wayne McDonell at TradersWay with its “Best Speaker Award” in 2016 for the educational content he shares with the trading community. TradersWay provides access to trade most popular forex pairs, as well as CFDs based on bitcoin, precious metals, and oil. Compared to its competitors, spreads offered by TradersWay are mid-level and definitely not among the tightest in the industry.

Despite not having the tightest spreads, however, trading with an offshore-based broker like TradersWay still comes with certain benefits such as a hassle-free sign-up process and high trading leverage. In the case of TradersWay, leverage is capped at a maximum of 1:1,000, which means that even traders with small trading accounts can achieve significant buying power in the market.

The broker furthers offers a fairly wide range of trading platforms to its clients, including the popular MetaTrader 4 and 5, and the newer cTrader platform, designed for use with the broker’s ECN account. In addition, solutions like Myfxbook Autotrade are offered to all clients, allowing them to link their MT4 accounts to Autotrade’s system for automated “copy trading.”

In terms of account types, the broker offers 5 types of live accounts, as well as a standard demo account. The following live trading accounts are available:
– MT4.FIX – A standard trading account with fixed spreads starting from 2 pips
– MT4.VAR – The same as the above but with dynamic spreads starting from 0.7 pips
– MT4.ECN – Commission-based ECN account with much tighter spreads starting from 0 pips
– MT5.ECN – Same as the above, but designed for the MT5 trading platform
– CT.ECN – ECN account for the cTrader platform with spreads starting from 0 pips

TradersWay is currently offering a 100% deposit bonus as a promotion for new traders. It is limited to $5,000 per account at a time and only applicable to MT4 accounts. Although the bonus amount itself cannot be withdrawn, any profits made with the bonus is freely withdrawable.

Other resources traders can benefit from to improve their trading skills include a convenient economic calendar, and live webinars hosted by the broker’s well-known chief FX strategist Wayne McDonell who has been trading publicly since 2004. Webinars are held Mondays to Thursdays during the London lunch break, and covers market-moving events, relevant technical levels in the market, and important things traders are talking about. Previous webinar sessions are also uploaded to YouTube for viewing at any time.

When it comes to deposits and withdrawals, these can be made through all the most common payment methods, including international bank wire transfers, credit and debit cards, and various e-wallet services such as Skrill and Neteller. In addition, we appreciate that TradersWay accept deposits in a variety of cryptocurrencies such as Bitcoin, Litecoin, and Ether.

Lastly, Tradersway customer service can be reached via a US phone number, live chat, or email. The broker does not explicitly state any customer support working hours, but instead says that all inquiries will be processed within 24 hours on business days.

Reviews from traders

5/5
(1 vote)
5/5
Kenya
Kenya
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