TradersWay Trading Forex Broker Review

In general, TradersWay is regarded as a low-risk, dependable, and trustworthy broker. The minimal deposit amount at this company is just $10. This company is a real good one, because it provides 11 customer-supported languages, as claimed in the TradersWay trading forex broker review.

What is TradersWay?

The company’s headquarters is located in Dominican. The goal of this company is to give traders access to as many trading options as possible on the financial markets. This firm offers a vast array of trading tools, tradable items, and favorable trading conditions to traders of all stripes.

Trading is available for the following five classes of market instruments: Commodities, Energies, Metals, Stock indexes, and Forex. It offers traders a variety of engaging trading possibilities. A customer can get a deposit bonus when they sign up with TradersWay, but it is the only promotion available.

To assist you in getting started before opening a live Forex account, this company also offers practice accounts. Money can be deposited and withdrawn quickly and easily.

Additionally, users can access four trading platforms—MetaTrader 4, MetaTrader 5, WebTrader, and Mobile applications—as well as four account types—MICRO and ECN Standard accounts with fixed (FIX) and variable (VAR) spreads.

Pros and Cons

 Is TradersWay Safe or a Scam?

This firm is legally registered in Dominica under the name TW Corp., but it is not subject to any regulations. According to the TradersWay trading forex broker review, this company asserts that customer funds are kept in segregated accounts, apart from the company’s funds, despite the absence of regulation.

Amidst a lengthy list of other requirements and obligations that these entities enforce, the goal of regulatory bodies is to make sure that safety measures like these are in place. There is no assurance that client funds are secure. It provides the implementation of Know Your Client (KYC) and Anti-Money Laundering (AML) protocols, as stated in the TradersWay trading forex broker review.

Minimum Deposit

Since there is no minimum deposit needed on this company, a trader could potentially open an account with just $10. With the exception of ECN accounts, where the minimum deposit is only $10.

The minimum deposit amount is equal to ZAR 170 based on the average exchange rate between the US dollar and the South African Rand at this moment.

Sign-up Bonus

By giving you a 100% bonus when you create a real account and fund it, this company gives you a good opportunity to trade. All you have to do is select the welcome bonus amount and make a deposit; the bonus will then be credited to your trading account. This type of bonus is typically provided by brokers to entice new clients and promote trading activity.

Depending on the initial deposit, offering a deposit or welcome bonus allows traders to get a partial refund. Overall, trading conditions are still alluring enough to entice traders to open a real account, even in the absence of no deposit bonuses or other benefits. When it comes to these bonuses, demo accounts are not qualified.

Referral Bonus

Every time a trader recommends a friend or family member to open a real account, this firm gives them the chance to get paid. For each referral in this scenario, there would be rewards for both the trader and the person they recommended.

For the trader and the referral to be eligible for a benefit after the referral has fulfilled all requirements, the referral must also create a real account using the special referral link.

Account Types

This firm provides its customers with four distinct account kinds: Islamic accounts, Standard accounts, and ECN accounts on the MT4, MT5, and cTrader platforms, as explained in the TradersWay trading forex broker review.

MT4 VAR Account

With a modest initial deposit, the account is a special account on the MetaTrader 4 trading platform that combines some of the best aspects of standard account trading without commissions and real-market ECN trading with tight floating spreads.

• Low spreads of variables
• Maximum order size: 0.1 lots
• No minimum first deposit required
• Leverage maximum: 1:1000
• MetaTrader 4, MetaTrader 4 Mobile

ECN MT4 Accounts

An electronic transaction system of purchase and sale designed to remove middlemen from the trading process and link brokers and traders directly is one benefit of ECN (Electronic Communication Network) accounts. Comparable to a stock exchange, the ECN system offers the following benefits to traders who choose to conduct their transactions:

• Narrow spreads starting at 0 pip
• 10 USD is the minimum initial deposit
• Order sizes must not exceed 0.01 standard lot (1000 units)
• Leverage maximum: 1:1000
• MetaTrader 4, MetaTrader 4 Web, and MetaTrader 4 Mobile

MT5 ECN Account

The account is special because it gives you direct access to the interbank market via the MetaTrader 5 platform, which is the replacement for MetaTrader 4 and offers traders access to a variety of financial markets, including Futures, Cryptocurrencies, Forex, and CFDs.

• Starts at 0 pip spreads
• Minimum trade size of 0.01 standard lot (1000 units)
• Minimum deposit of 10 USD
• Leverage maximum: 1:1000.
• There are two available platforms: MetaTrader 5 and MetaTrader 5 Mobile

CT ECN Account

Trader’s Way CT.ECN account is a special kind of account that gives you direct access to the interbank market via the most cutting-edge, intuitive trading platform available—cTrader—and is specifically made for STP/ECN trading, as in the TradersWay trading forex broker review.

• Narrow spreads starting at 0 pip
• 50 USD is the minimum initial deposit
• Order sizes must not exceed 0.01 standard lot (1000 units)
• Leverage maximum: 1:500
• cTrader Mobile, cTrader Web, cTrader

Demo Account

With the exception of the fact that virtual funds are used to conduct trading, the Tradersway demo account mimics the terms of a live trading account and provides traders with access to the same features, options, and functions as a live trading account. Just remember that traders are unable to take their profits from these accounts.

Islamic Account

This company does provide an Islamic Account option for traders who adhere to Sharia law. Frequently, traders are offered the opportunity to convert their active trading account into an Islamic account; alternatively, the account can be opened independently and requires a different application process. The same trading tools and platform features that are available to traders with other accounts are also accessible to traders with the Islamic Accounts, as explained in the TradersWay trading forex broker review.

• Contracts held for longer than 24 hours are not charged interest
• Accounts are activated with a minimum deposit required by this broker
• Traders have access to Expert Advisors, which facilitate automated trading
• Traders can execute trades directly
• There may be specific restrictions and limitations applicable to the Islamic Account

Deposit and Withdrawal Methods

For novice traders, TradersWay’s lack of a minimum deposit requirement is a huge advantage over other brokers. When funding accounts, traders can choose from a range of deposit or payment options provided by this company.

Generally, withdrawals must be made back to the same bank account and by the same method as the original deposit. The payment options that this company takes are as follows:

PayRedeem, Bitcoin, Ether, Litecoin, Ripple, USD Coin, Tether, TrueUSD, Stellar, Skrill, NETELLER, Perfect Money, FasaPay, Bank Transfer, TC Pay, Local Transfer.

Fees and Spreads

The EUR/USD spreads begin at 0.1 pip. When using TradersWay for trading, the company’s spread list is:

For the MT4.VAR accounts, this firm does not impose any additional commission fees. Despite the fact that these accounts have comparable terms, all commissions are already included in the spread. The spreads are negligible for ECN accounts, but the commission will be paid separately.

The website’s Trading Conditions section provides a breakdown of commission rates. To calculate the commission, you must figure out how much your deal is worth in US dollars, divide it by 100,000, and then multiply the result by the commission.

• EUR/USD: 0.1
• GBP/USD: 1.3
• USD/CHF: 0.7
• USD/JPY: 0.8

Trading Platforms

Trades can be executed via TradersWay using three of the most widely used and intuitive trading platforms: cTrader, MetaTrader 4, and MetaTrader 5. Even the most experienced traders can find these platforms to be among the best in the business, as they are loaded with features that meet their needs and preferences.

The following devices can be downloaded with these platforms:

• Desktop computers running Microsoft, Linux, or Windows.
• Smartphones with the iOS or Android operating system, or vice versa
• Any web browser can be used to access the trading platforms.

Customer Service

Customer Service: [email protected]

Technical Support: [email protected]

The good news is that all the inquiries are processed in less than 24 hours. Customer service can help customers in 11 different languages.

Conclusion

TradersWay, despite being unregulated, provides trading conditions that distinguish it from competitors. According to the TradersWay trading forex broker review, these conditions include low trading and non-trading fees, as well as a range of accounts that accommodate different traders. With its extensive offering, this firm serves both novice and seasoned traders. It also offers sufficient research and education to help traders advance their trading expertise.