Wanna see if TradersWay is a legit broker? Is it safe to trade? The spread is high or low? Howto deposit or withdraw?
We provide answers to all the questions in this TradersWay Review.
We checked TradersWay licenses and regulation status to see if TradersWay scam or safe. Compared TradersWay fees like spread & commission from its live account to other 150 brokers. Also the time for deposit & withdrawal and many more findings in this Review.
What is TradersWay
TradersWay is a global Forex and CFD broker, established in 2008.
Thecompany is based and registered in Dominica only, means TradersWay is solely offshore based firm which does not fall under regulation of the top-tier financial authorities.
|🗺️ Regulated in||Dominica|
|🛡️ Is TradersWay safe to trade||No|
|💵 EUR/USD spread||1.5 pip|
Wire Transfer, Cards, Cryptocurrency Wallet
|💰 Minimum deposit||US$10|
Wire Transfer, Cards, Cryptocurrency Wallet
|💻 Trading platform||MT4, MT5, cTrader|
|💳 Trading markets||Forex, Metals, Energies, Cryptocurrencies|
|📈 Number of product||50+|
|📉 Live chat response||Relevant answers|
License and regulation are the keys to traders’ fund security. There are two factors to be checked, what licenses the broker carries and how trader is protected if something goes wrong.
Is TradersWay legit
TradersWay operating only through offshore jurisdiction and license.
TradersWay is based in Dominica and is registered with local laws, however Dominica is not a top-tier regulated zone, necessary for a safe trading environment.
TradersWay Licenses and Regulatory status
|Entity||Registered in||Regulator||License no.||Status|
|TW Corp. “TradersWay”||Dominica||–||–||Registered no regulations|
Is TradersWay safe
No, we consider TradersWay not safe because it is not regulated by the top-tier authorities and is solely offshore based.
The broker operates without regulatory authorization by resected regions like Europe, Asia or US that oversee transparency, so no guaranties on appliance to international laws and protective measures.
TradersWay Compensation Scheme
|Entity||Compensation Amount||Negative Balance Protection|
|TW Corp. “TradersWay”||No compensation||No|
TradersWay does not provide negative balance protection, since local regulation does not require it, likewise no coverage in case of insolvency.
Markets and Products
At TradersWay you can trade instruments like Forex, Metals, Energies and Cryptocurrencies.
Popular assets like Indices, Shares or Futures are missing.
Trading on Forex exchange markets is one of the cores in TradersWay proposal, currency pairs available to trade through Standard and ECN accounts.
TradersWay offers 4 Accounts that differ in trading conditions, pricing model and platform.
|MT4.VAR||MT4.ECN | MT5.ECN | CT.ECN|
|Minimum Deposit||10 USD||10 USD|
|Spreads From||1.5 pips||0 pips|
|Commissions||Zero Commissions||3 USD per 100,000 USD turnover|
Login TradersWay available through its website, where you can login to your account area or sign-up with step to step guided process.
Fees and commissions
TradersWay Fees we ranked as average based on the variable spread account and compare to 150 brokers that we check through Live account spread.
Spread for popular instruments we collect for 6 markets and 150 brokers
|Forex||EUR/USD||0.1-0.9||1-1.5||1.6 or higher|
|Indices||US 500||0.1-0.4||0.5-1.4||1.5 or higher|
|Commodities||Gold||0.1-0.4||0.5-2||2.1 or higher|
|Stocks||Tesla||0.1-0.5||0.6-1||1.1 or higher|
|ETFs||US Russell 2000||0.1-0.4||0.5-1.4||1.5 or higher|
|Cryptocurrencies||Bitcoin||0.1-0.5%||0.6-0.9%||1% or higher|
TradersWay depend on the account type and platform you use.
MT4.VAR offers spread only basis at costs starting from 1.5 pips, the rest of accounts are ECN based with 0 pips spread and commission of 3$
Comparing the spreads derived from TradersWay Live Account with spread only basis to industry benchmarks, we found Live spread on Forex and Metals average.
|Markets||Instruments||TradersWay Spread||Other brokers’ avg spread|
TradersWay has low non-trading fees. Deposits and withdrawals are free of charge.
The trading conditions at TradersWay are good, you can run any strategy of your choice including hedging and scalping, social trading is available via MetaQuotes and FxStat.
|Change Leverage Allowed||Yes|
For hedging, there are no time limitations for keeping open hedging positions.
Scalping is allowed, Expert Advisors (EAs) via MT4 and MT5 are available with no limits. VPS Hosting Service is inbuilt into MT5.
TradersWay allowing a change of leverage and has high leverage ratios that are considered very risky, levels of up to 1:1000 depending on the instrument and trading size.
TradersWay adds no deposit fees, but subject to correspondent bank fees depending on the payment provider.
You can use Bank transfer, Credit or Debit cards, and Cryptocurrency Wallet.
A bank transfer can take several business days, payment with credit/debit cards are instant.
|Deposit Method||Funding Time||Fee|
|Wire Transfer||4-7 business days||Free|
The Minimum deposit amount is 10$/€/GBP/CAD/ for any account of your choice.
Similar to deposits TradersWay add no fees for withdrawal, but subject third party provider fees and/or conversion fees.
Funds are withdrawn using the same methods with processing time within 48 hours on business days.
|Withdrawal Method||Withdrawal Time||Fee|
|Credit Card||1-2 business days||0$|
|Wire Transfer||Up to 5 business days||0$|
TradersWay has 100% bonus on your deposit, which you can select upon account opening.
TradersWay offers good range of platforms including MT4, MT5 and cTrader.
MT4 platform supporting numerous languages and available across all devices and operating systems including Web Platform, Desktop Platfrom and Mobile App. Newer version MT5 is in the selection.
TradersWay also offers cTrader Web accessible from any device and with no restrictions on cAlgos.
Research and Tools
TradersWay Research including Economic Calendars, Trading Indicators, Market Info and News Feed.
A standard range of tools with Sentiments, Trend Indicators and trading tools are inbuilt into the platform.
TradersWay Research tools available via:
- TradersWay trading platform
TradersWay – Resources section
TradersWay education section does not provide much materials, but runs Webinars and provide trading articles with glossary and analysis.
Demo Account is provided with unlimited basis for each of the offered platforms.
At TradersWay you can learn though:
- Demo account
- Educational articles and Analysis
TradersWay customer service ranked good, there are various ways to contact Support team, we got a relevant answer via Live Chat. On the downside, agents are not always available even operating 24/5.
TradersWay Customer Support is available by:
- Live chat
TradersWay Live chat response is fast speed, answers are informative.
|Question Asked||We asked about range of instruments.|
|Time of Reply||We connect to Live Chat agent within 3 minutes,|
|Quality of Reply||The answer was relevant.|
TradersWay we can not consider a safe broker to trade. There is no serious regulations from the top authorities like FCA or similar.
Even the trading proposal is good for platform offering and choice between STP and ECN account, due to lack of regulations transparency of trading environment is under the question. Plus we got some negative reviews from other traders.
We do not recommend TradersWay due to lack of regulation.
Author of this review
By Jimmy O'Brien
Author of this review
Over 15 years experience in forex, commodities and equities markets research. He loves analyzing and trading the markets as a strategist and trader. In late 2019, Jimmy turned to researching and analyzing forex brokers. Now he and his team focus researching and comparing broker’s pros and cons.