Currency
Price
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Traders Way Review 2020

Traders Way Logo
3.72
At Forexchurch we adhere to a rigorous and impartial review process. Learn about out review process.

Trader’s Way, a prime online FOREX and CFD broker, was established with the principle mission - to provide traders with the widest opportunities available on financial markets. We’ve collected the best products, technologies and services, so that the needs of every trader are fully satisfied. Under one broker, without losing time, you can find everything to trade the way you like, without boundaries and limits.

High accuracy in prices, no restriction on trades, even on accounts with minimum deposits, and a wide choice of trading opportunities is the pillar of our business activity. It’s the beacon on our way to ensure our mission – to bring you maximum trading with maximum opportunities and freedom!

  • inforue ECN accounts with low deposit requirements for both MetaTrader and cTrader platforms
  • infoHigh leverage up to 1,000:1 on MetaTrader and 500:1 on cTrader platforms
  • infoAccepts Clients from USA
  • info100% bonus offer with low minimum deposit makes it ideal for new traders to try live trading
  • infoSpreads on variable accounts can often jump too high
  • infoLack of regulatory oversight
  • infoHigher execution times plus slippage experienced during our live testing
Headquarters Roseau Valley, Dominica
Type of Broker STP & ECN/STP
Founded 2011
Regulated By Regulated By Not Regulated
Offices In Dominica
Supported Languages English, Spanish, Malaysian, Chinese, Indonesian, Polish, Farsi, Arabic, Russian
ESMA Regulation ? This broker is not regulated within the E.U and is not subject to ESMA's new Forex and CFD trading restrictions. To find out more about these restrictions, please see this article

Typical Spread on Majors - Live info

EUR/USD 1.2
GBP/USD 2.1
USD/JPY 1.3
* STANDARD account shown.

Order Excution Tests Results - Live info

Traders Way Server Location:

Eschborn, Germany

Our Client Terminal Location:

St. Louis, United States

Average Time (ms)

Server Response

Order Excution (Normal Hours)

3131.2

Order Excution (During News)

1750

TradersWay Banner

Tradersway is primarily a Forex broker based in Dominica, a mountainous Caribbean island nation. It is one of those lesser-known brokers that most traders would think twice before considering trading with due to the lax regulatory environment that it operates in. Tradersway is owned and operated by TW Corp, but we couldn’t verify if they are registered as a broker or simply as a company.

While it was not easy finding the office address of Tradersway on its official website, our research found that it is located at 8 Copthall, Roseau Valley, 00152, in The Commonwealth of Dominica. The domain is registered in December of 2010 and the broker started operating as a business in 2011.

Tradersway's business model is based on attracting clients who are actually looking for unregulated brokers, and it is one of their selling points. In a Forex Factory thread back in 2014, an official representative of the company proudly wrote that they are "out of the reach of the CFTC and thus can offer clients the same trading conditions that the rest of the world is able to freely enjoy.".

Hence, Forex traders from the United States can trade with Tradersway and enjoy a high leverage of up to 1000:1 and other benefits of trading with an offshore broker.

Sure, the way it has set up the business will raise some eyebrows and it is not looking to attract clients who feel more comfortable trading with a broker regulated by a reputed regulatory authority. However, Tradersway has positioned itself in a niche market in the Forex industry and has provided quality brokerage services to its long list of international clients for almost a decade.

If you are searching for an offshore broker with a good reputation and are not going to put too much emphasis on it being located in certain jurisdictions or regulated by a name you recognize, then our review of Tradersway can help you decide if it is suitable for your trading needs or not.

Regulation and Safety of Funds

As far as our research suggests, Tradersway is not regulated by any government authorities. However, Dominica is not completely unregulated and you can always knock on the doors of East Caribbean Securities Regulatory Commission if you need to remedy any issues with any Caribbean financial institution.

But, this lack of regulation means that we had to assign a fairly poor rating for this broker in the regulatory category.

Nonetheless, Tradersway does offer the acclaimed cTrader platform. One of the features of the trader ECN model is that brokers have to connect at least one liquidity provider to the platform. Also, cTrader, as a hosted platform, does not allow brokers to play around with the software so traders can be sure that all price feeds are sourced directly from the liquidity provider. This way, while the broker is not regulated, Forex traders can find some comfort in knowing that using cTrader can protect them from potential business malpractice.

When it comes to the safety of client funds, however, Tradersway has segregated accounts. It means that client funds are never mixed with their operational funds. In case of a business failure, clients can claim their deposits and those should be paid out with priority.

Trading Services: Types of Forex Trading Accounts Offered by TradersWay

Tradersway offers five different types of accounts in order to cater to the different needs of Forex traders. The MT4.FIX. account, as you can guess, is a Fixed spread standard account that most dealing desk brokers offer. Traders can start Live trading with a minimum deposit of $2 and can enjoy trading with MetaTrader 4 straightaway with fixed spreads that start from only 2 pips on certain currency pairs.

The MT4.VAR. comes with dynamic spreads and traders can enjoy spreads from only 0.7 pips. The initial deposit amount for this account is also only $2. While variable spreads can offer better bid and ask prices, keep in mind that these tend to widen during changing market conditions and carries higher risks if you are a short-term trader.

Both the MT4.FIX. and MT4.VAR. offer very high leverage of up to 1000:1

The ECN accounts are where Tradersway excels as an unregulated Forex broker. Very few regulated brokers offer high leverage to their ECN clients. But, being located on a Caribbean island, it can get away with offering 1000:1 leverage on both MT4.ECN. and MT5.ECN. accounts. Even the cTrader based ECN account, CT.ECN. offers up to 500:1 leverage.

While spreads can go as low as 0 pips with all three ECN accounts, Tradersway requires different minimum initial deposits for different types of accounts. The MT4.ECN. and MT5.ECN. accounts require a higher, $100 initial deposits. On the other hand, the CT.ECN. account can be opened with a $50 deposit.

A quick comparison of different accounts offered by TradersWay

MT4.FIX. MT4.VAR. MT4.ECN. MT5.ECN. CT.ECN.
Spreads From: Static spreads, starting from 2 pips Dynamic spreads,starting from 0.7 pips Dynamic spreads, starting from 0.0 pips Dynamic spreads, starting from 0.0 pips Dynamic spreads, starting from 0.0 pips
Commission USD Per Lot: None None 25 USD per 1 million USD turnover 25 USD per 1 million USD turnover 2.5 USD per 1 million USD turnover
Leverage: 1000:1 1000:1 1000:1 1000:1 500:1
Minimum Opening Deposit USD: $2 $2 $100 $100 $50
Minimum Lot Size 0.01 0.01 0.01 0.01 0.01

Although Tradersway is a Forex broker and offers over 40 currency pairs, like many of its competitors, Forex traders can also explore trading various metals such as Gold and Silver. Also, Tradersway offers a few energies, such as Oil and Gas to be traded on the platform.

Tradersway clients can open demo accounts, it does not extend past the standard 30-Day period.

Trading Platform & Technology

As you can tell from the name of the accounts, Tradersway has implemented two major trading platforms: MetaTrader 4 and 5, as well as invested to provide cutting edge technology, such as the cTrader platform.

While the Fixed and Variable spread accounts are all offered with the MetaTrader 4 and 5 platforms, the ECN accounts of Tradersway are available for both MetaTrader and cTrader platforms.

MetaTrader 4 and 5 are two of the industry-leading trading software packages from Russian software developer MetaQuotes. Over the past two decades, MetaQuotes has established itself to be the topmost solution provider to Forex brokers.

TradesWay MT4 Platform

Both MetaTrader 4 and 5 comes with an impressive list of technical analysis features and tools. Besides including a range of technical indicators, it comes with the MQL coding platform which can be used by traders to build custom indicators and trading algorithms.

Moreover, MetaTrader from Tradersway provides the strategy tester application. With it, Forex traders can write their own automated trading robots and tweak settings as needed to profit from fluctuations in the currency markets without being present in front of a screen.

TradersWay cTrader Platform

The cTrader platform comes from Cyprus based Spotware. Although it is a relatively new company, the cTrader has gained popularity among Forex traders due to its broad range of technical analysis capabilities, indicators, and the ease of use.

TradersWays cAlgo

The cTrader platform also has the ability to trade automatically with algorithms, but it uses a proprietary algorithm trading solution called cTrader Automate, previously known as cAlgo.

At the time of writing this review, we tested both software platforms for reliability and found it to be extremely versatile. Even on older computers, both MetaTrader and cTrader performed relatively well. During our order execution testing, we found Tradersway's order execution times to be in the slower range compared to other brokers that we tested. There were also issues with slippage.

Here is a summary of our order execution test results.

Order Execution Test Results
TradersWay MT4 Server Location
  1. Netherlands - Diemen, North Holland
  2. UnitedKingdom - Harringay, England
Our Client Terminal Location United States - St. Louis, Missouri
5 Day Average During Normal Hours (Pips) Slippage During News Event (Pips)
Slippage 0.0200 0.1000
5 Day Average Time (Milliseconds) Lowest Time (Milliseconds)
Order Execution (Normal Hours) 1603.2 1328
Time (Milliseconds)
Order Execution (During News) 2096
TradersWay iOS & Android App

Busy professionals will find it useful that Tradersway offers mobile trading apps for both its MetaTrader and cTrader platforms, which comes bundled as software packages from the respective platform providers.

You can easily download the apps from the Google Play Store and Apple's App Store for Android and iOS devices and trade on the go.

Customer Service and Support

As an offshore broker based in Dominica, Tradersway does not run a traditional office where you can visit to gain customer support. However, in the age of online shopping, nobody actually travels to an office to resolve any issues they are facing from their service providers.

However, when it comes to alternative channels for providing customer support, Tradersway has implemented three different channels. First, you can email Tradersways customer service at helpdesk@tradersway.com, but if you are facing technical problems, it is better to reach their technical support desk at support@tradersway.com. Tradersway claims that all of the customer inquiries are addressed within 24 hours and our extensive test confirmed the responsiveness to be accurate.

You can also reach Tradersway via online chat, which is available on every page of their official website, and usually, the wait time is not that high as well.

Last but not least, you can call the Tradersway customer service at +1 849 9370815.

During our research, we made several test calls to Tradersway customer support and found their team to be professional and knowledgeable about Forex trading. Our team of ghost callers asked some questions and asked them to solve some fictitious problems. We found that on average, the waiting time was not too long compared to industry averages and our issues were dealt with in a timely manner. Also, we found the customer service agents of Tradersway to be polite and professional. When they were not sure about how to address an issue, they asked if they can get back to us and we usually received a response within 24 hours.

Based on our criteria, we gave the following ratings to their customer service:

The final rating for customer service experience
Weight Nominal Rating Weighted Rating
Connection Time 10% 3.0 0.30
Toll-free Number (Yes/No) 10% 1.0 0.10
Multilingual Support 10% 1.0 0.10
Professionalism 25% 4.64 1.16
Resolving Issues(Yes/No) 45% 5.0 2.25
Final Rating 2.93 3.91

Deposit and Withdrawal Methods

While there are several payment methods supported by Tradersway, we found that they do not accept credit and debit cards directly. To make a deposit with credit and debit cards, traders first need to buy a voucher from VLoad and then deposit the voucher. While this might sound like a cumbersome process, it does increase security by not providing your personal banking information to your Forex broker.

Besides VLoad, Tradersway also supports the Arba app, which can be funded by Wire transfers as well as credit and debit cards.

However, if you are looking to make larger deposits, it is better to use a direct wire transfer to Tradersway's bank account via VLoad. While wire deposits are charged a 2% fee, you can get it reimbursed if you make a deposit of $2,500 or more with US Dollars or Euro.

Besides traditional payment methods, Tradersway also supports cryptocurrencies like Bitcoin, Litecoin, Ripple, and Ether. To make a deposit with these cryptocurrencies, first, you need to open a Coinbase account and transfer the deposit through them.

In addition, a number of digital wallets are also supported by Tradersway. For example, traders can make deposits with NETELLER, Perfect Money, and FasaPay.

Current Promotions and Bonus Offers

As of December 2019, Tradersway is offering a 100% deposit bonus. Anyone depositing above $10 can claim the 100% deposit bonus on their account. To avoid misuse of the bonus program, they credit the bonus to your account on a daily trading volume basis instead of offering it at once.

The Bottom Line

Since 2011, Tradersway has been providing a quality offshore Forex brokerage service to a niche market of traders who prefer to get true ECN trading experience and unbound customer service outside of the regulated Forex market.

Offshore brokers like Tradersway fill in a very important gap in the Forex industry as they cater to traders from jurisdictions that are not friendly to Forex brokers. For example, Forex traders from the United States have very few options to choose from when it comes to picking a broker that provides quality services. Here, brokers like Tradersway are the only options who cater to these traders and offer them services like high leverage, which is a norm outside of the U.S. markets.

The lack of regulatory oversight of Tradersway is certainly a concern. But in a free and open marketplace, a reputation earned by providing years of quality service is as valuable a signal of stability and reliability as being regulated by a government agency.

Opening an account with Tradersway can be a rewarding experience if you are comfortable trading with an ECN broker who is not regulated but conducts its service on the strength of its reputation alone.

Based on our research, we have assigned the following ratings to TradersWay. To know more about how we rate brokers, read our review process.

>
Rating Categories Weight Nominal Rating Weighted Rating
1 Regulatory Oversight 15% 1.00 0.15
2 Security of Client's Funds / Segregated acc. 10% 3.00 0.30
3 Business Model of the Broker 5% 5.00 0.25
4 Transaction Costs and Fees 15% 4.50 0.68
5 Ease of Deposit and Withdrawals 5% 4.00 0.20
6 Trading Platform 10% 5.00 0.50
7 Order Execution/Server Latency 5% 1.00 0.01
8 Customer Support 5% 3.91 0.39
9 Leverage and Margin 10% 5.00 0.25
10 Initial Deposit Amount 5% 5.00 0.25
11 Type of Assets Offered 10% 5.00 0.50
12 Public Opinion 5% 4.00 0.20
Avarage Rating 3.87
Weighted Avarage Rating 3.72

Traders Way Reviews

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Currencies Swap
Short Long Type
AUDCAD -5.50 -0.10 0
AUDCHF -11.70 2.10 0
AUDJPY -10.40 2.10 0
AUDNZD -9.10 0.42 0
AUDUSD -2.40 -1.80 0
CADCHF -7.80 1.86 0
CADJPY -7.80 1.20 0
CHFJPY -1.30 -4.80 0
EURAUD 4.86 -19.50 0
EURCAD 3.12 -14.30 0
EURCHF -3.90 -1.30 0
EURGBP 0.36 -5.30 0
EURJPY -2.60 -4.20 0
EURNOK 1.39 -5.98 0
EURNZD 1.50 -14.30 0
EURSEK -0.13 -1.82 0
EURTRY 178.50 -624.00 0
EURUSD 3.36 -15.60 0
GBPAUD -5.06 -15.20 0
GBPCAD 0.42 -9.50 0
GBPCHF -9.10 1.20 0
GBPJPY -7.40 0.06 0
GBPNOK -0.13 -1.95 0
GBPNZD -3.30 -7.40 0
GBPUSD 2.04 -11.70 0
NZDCAD -1.00 -4.30 0
NZDCHF -7.80 0.84 0
NZDJPY -5.20 0.30 0
NZDUSD 0.42 -5.20 0
USDCAD -6.70 -0.30 0
USDCHF -14.30 3.36 0
USDDKK -8.84 2.31 0
USDJPY -13.00 2.76 0
USDNOK -5.98 1.39 0
USDSEK -10.27 2.73 0
USDSGD -6.50 0.42 0
USDTRY 142.38 -478.40 0
XAUUSD 0.39 -16.60 0
XAGUSD 0.03 -2.90 0
BTCUSD -12.00 -12.00 2
BCHUSD -12.00 -12.00 2
ETHUSD -12.00 -12.00 2
XRPUSD -12.00 -12.00 2
LTCUSD -12.00 -12.00 2
DSHUSD -12.00 -12.00 2
Swap Chart for EURUSD for different FX Brokers
Long Swaps
Short Swaps
Change Currency
Volume
AUDCAD 94
AUDCHF 60
AUDJPY 100
AUDNZD 129
AUDUSD 65
CADCHF 50
CADJPY 101
CHFJPY 74
EURAUD 146
EURCAD 117
EURCHF 75
EURGBP 68
EURJPY 108
EURNOK 75
EURNZD 182
EURSEK 51
EURTRY 116
EURUSD 69
GBPAUD 185
GBPCAD 127
GBPCHF 58
GBPJPY 140
GBPNOK 70
GBPNZD 162
GBPUSD 63
NZDCAD 105
NZDCHF 75
NZDJPY 123
NZDUSD 109
USDCAD 95
USDCHF 19
USDDKK 39
USDJPY 62
USDNOK 93
USDSEK 70
USDSGD 39
USDTRY 198
XAUUSD 356
XAGUSD 159
BTCUSD 106
BCHUSD 175
ETHUSD 55
XRPUSD 5
LTCUSD 15
DSHUSD 24
Volume Chart
Headquarters Roseau Valley, Dominica
Type of Broker STP & ECN/STP
Founded 2011
Regulated By Regulated By Not Regulated
Offices In Dominica
Supported Languages English, Spanish, Malaysian, Chinese, Indonesian, Polish, Farsi, Arabic, Russian
ESMA Regulation ? This broker is not regulated within the E.U and is not subject to ESMA's new Forex and CFD trading restrictions. To find out more about these restrictions, please see this article
Currencies Swap
Short Long Type
AUDCAD -5.50 -0.10 0
AUDCHF -11.70 2.10 0
AUDJPY -10.40 2.10 0
AUDNZD -9.10 0.42 0
AUDUSD -2.40 -1.80 0
CADCHF -7.80 1.86 0
CADJPY -7.80 1.20 0
CHFJPY -1.30 -4.80 0
EURAUD 4.86 -19.50 0
EURCAD 3.12 -14.30 0
EURCHF -3.90 -1.30 0
EURGBP 0.36 -5.30 0
EURJPY -2.60 -4.20 0
EURNOK 1.39 -5.98 0
EURNZD 1.50 -14.30 0
EURSEK -0.13 -1.82 0
EURTRY 178.50 -624.00 0
EURUSD 3.36 -15.60 0
GBPAUD -5.06 -15.20 0
GBPCAD 0.42 -9.50 0
GBPCHF -9.10 1.20 0
GBPJPY -7.40 0.06 0
GBPNOK -0.13 -1.95 0
GBPNZD -3.30 -7.40 0
GBPUSD 2.04 -11.70 0
NZDCAD -1.00 -4.30 0
NZDCHF -7.80 0.84 0
NZDJPY -5.20 0.30 0
NZDUSD 0.42 -5.20 0
USDCAD -6.70 -0.30 0
USDCHF -14.30 3.36 0
USDDKK -8.84 2.31 0
USDJPY -13.00 2.76 0
USDNOK -5.98 1.39 0
USDSEK -10.27 2.73 0
USDSGD -6.50 0.42 0
USDTRY 142.38 -478.40 0
XAUUSD 0.39 -16.60 0
XAGUSD 0.03 -2.90 0
BTCUSD -12.00 -12.00 2
BCHUSD -12.00 -12.00 2
ETHUSD -12.00 -12.00 2
XRPUSD -12.00 -12.00 2
LTCUSD -12.00 -12.00 2
DSHUSD -12.00 -12.00 2
Swap Chart for EURUSD for different FX Brokers
Long Swaps
Short Swaps
Change Currency
Volume
AUDCAD 94
AUDCHF 60
AUDJPY 100
AUDNZD 129
AUDUSD 65
CADCHF 50
CADJPY 101
CHFJPY 74
EURAUD 146
EURCAD 117
EURCHF 75
EURGBP 68
EURJPY 108
EURNOK 75
EURNZD 182
EURSEK 51
EURTRY 116
EURUSD 69
GBPAUD 185
GBPCAD 127
GBPCHF 58
GBPJPY 140
GBPNOK 70
GBPNZD 162
GBPUSD 63
NZDCAD 105
NZDCHF 75
NZDJPY 123
NZDUSD 109
USDCAD 95
USDCHF 19
USDDKK 39
USDJPY 62
USDNOK 93
USDSEK 70
USDSGD 39
USDTRY 198
XAUUSD 356
XAGUSD 159
BTCUSD 106
BCHUSD 175
ETHUSD 55
XRPUSD 5
LTCUSD 15
DSHUSD 24
Volume Chart
Account Currencies USD, EUR, GBP, CAD
Minimum Deposit $0
Traders from USA Allowed Yes
Clients Funds Segregated Yes
Interest on Margin No
Islamic Accounts Yes
Islamic Account Restrictions Muslim Faith Only
ECN / STP Accounts Offered Yes
Commission on STP or ECN $3 / 100k per side (MT4.ECN), $3 / 100k per side (CT.ECN Account)
VIP Accounts Offered Yes
VIP Account Requirements $50,000 Minimum Deposit
Mini Accounts Offered No
PAMM / MAM Solutions Yes
API Solutions Yes
Mobile Trading Yes
Web Based Trading Yes
Funding Methods Credit/Debit Cards, Wire Transfer, Skrill, WebMoney, Perfect Money, Bitcoin, Upaycard, Payza, Neteller
Withdrawal Methods Credit/Debit Cards, Wire Transfer, Skrill, WebMoney, Perfect Money, Bitcoin, Upaycard, Payza, Neteller
Platforms Offered MetaTrader 4, MetaTrader 5, MetaTrader 4 Mobile, MetaTrader 4 iOS, MetaTrader 4 Android, WebTrader, cTrader, cAlgo, cTrader Web
NO of Pairs 40
Cryptocurrency Trading Yes
Pricing Digits 5
Trade off Charts Yes
One-click Execution Yes
Email Alerts No
Mobile Alerts No
MetaTrader Server Time GMT + 2
Demo Account Expiry 30 Days
VPS Offered Yes
Free VPS Conditions Free for account balance over $1000, Free with monthly volume over 10 Lots.
Dealing Desk No
Maximum Leverage 1000:1
Minimum Contract Size 0.01
Execution Instant Execution (MT4.Micro and MT4.FIX Accounts), Market Execution (MT4.VAR,MT4.ECN and CT.ECN Accounts)
Hedging Yes
Scalping Yes
Scalping Restrictions No
Option of OCO Yes
Option of FIFO No
Liquidity Providers 31+
Negative Balance Protection No
CFD's Yes
Metals Yes
Oil Yes
Short Long Type
AUDCAD -5.50 -0.10 0
AUDCHF -11.70 2.10 0
AUDJPY -10.40 2.10 0
AUDNZD -9.10 0.42 0
AUDUSD -2.40 -1.80 0
CADCHF -7.80 1.86 0
CADJPY -7.80 1.20 0
CHFJPY -1.30 -4.80 0
EURAUD 4.86 -19.50 0
EURCAD 3.12 -14.30 0
EURCHF -3.90 -1.30 0
EURGBP 0.36 -5.30 0
EURJPY -2.60 -4.20 0
EURNOK 1.39 -5.98 0
EURNZD 1.50 -14.30 0
EURSEK -0.13 -1.82 0
EURTRY 178.50 -624.00 0
EURUSD 3.36 -15.60 0
GBPAUD -5.06 -15.20 0
GBPCAD 0.42 -9.50 0
GBPCHF -9.10 1.20 0
GBPJPY -7.40 0.06 0
GBPNOK -0.13 -1.95 0
GBPNZD -3.30 -7.40 0
GBPUSD 2.04 -11.70 0
NZDCAD -1.00 -4.30 0
NZDCHF -7.80 0.84 0
NZDJPY -5.20 0.30 0
NZDUSD 0.42 -5.20 0
USDCAD -6.70 -0.30 0
USDCHF -14.30 3.36 0
USDDKK -8.84 2.31 0
USDJPY -13.00 2.76 0
USDNOK -5.98 1.39 0
USDSEK -10.27 2.73 0
USDSGD -6.50 0.42 0
USDTRY 142.38 -478.40 0
XAUUSD 0.39 -16.60 0
XAGUSD 0.03 -2.90 0
BTCUSD -12.00 -12.00 2
BCHUSD -12.00 -12.00 2
ETHUSD -12.00 -12.00 2
XRPUSD -12.00 -12.00 2
LTCUSD -12.00 -12.00 2
DSHUSD -12.00 -12.00 2
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