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.

TradersWay Highlights

🗺️ Regulated inDominica
🛡️ Is TradersWay safe to tradeNo
💵 EUR/USD spread1.5 pip
🏦 Deposit
Wire Transfer, Cards, Cryptocurrency Wallet
💰 Minimum depositUS$10
🏦 Withdrawal
Wire Transfer, Cards, Cryptocurrency Wallet
💻 Trading platformMT4, MT5, cTrader
💳 Trading marketsForex, Metals, Energies, Cryptocurrencies
📈 Number of product50+
📉 Live chat responseRelevant answers

Regulation

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

EntityRegistered inRegulatorLicense 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

EntityCompensation AmountNegative Balance Protection
TW Corp. “TradersWay”No compensationNo

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.

Forex

Trading on Forex exchange markets is one of the cores in TradersWay proposal, currency pairs available to trade through Standard and ECN accounts.

MarketsInstruments
Forex40+
Indices
Commodities4
Cryptocurrencies4
Shares

Account types

TradersWay offers 4 Accounts that differ in trading conditions, pricing model and platform.  



MT4.VAR  MT4.ECN | MT5.ECN | CT.ECN
Minimum Deposit10 USD10 USD
Minimum Balance
Spreads From1.5 pips0 pips
CommissionsZero Commissions3 USD per 100,000 USD turnover

Login

Login TradersWay available through its website, where you can login to your account area or sign-up with step to step guided process.

TradersWay Review - Login
TradersWay Review – Login

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

MarketsInstrumentsLowAverageHigh
ForexEUR/USD0.1-0.91-1.51.6 or higher
IndicesUS 5000.1-0.40.5-1.41.5 or higher
CommoditiesGold0.1-0.40.5-22.1 or higher
StocksTesla0.1-0.50.6-11.1 or higher
ETFsUS Russell 20000.1-0.40.5-1.41.5 or higher
CryptocurrenciesBitcoin0.1-0.5%0.6-0.9%1% or higher

Spreads

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.

MarketsInstrumentsTradersWay SpreadOther brokers’ avg spread
ForexEUR/USD1.51-1.5
IndicesUS S&P5000.5-1.4
CommoditiesGold1.80.5-2
StocksTesla0.6-1
ETFsUS Russell20000.5-1.4
CryptocurrenciesBitcoin610.6-0.9%

Other Fees

TradersWay has low non-trading fees. Deposits and withdrawals are free of charge.

Trading Conditions

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.

Trading ConditionsYes/No
Hedging AllowedYes
Scalping AllowedYes
Change Leverage AllowedYes

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.

Leverage

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.

Deposit

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 MethodFunding TimeFee
Credit CardInstantFree
Cryptocurrency WalletInstantFree
Wire Transfer4-7 business daysFree
TradersWay Review – Deposit and withdrawal – Deposit
TradersWay Review – Deposit and withdrawal – Deposit

Minimum Deposit

The Minimum deposit amount is 10$/€/GBP/CAD/ for any account of your choice.

Withdrawal

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 MethodWithdrawal TimeFee
Credit Card1-2 business days0$
Cryptocurrency WalletInstant0$
Wire TransferUp to 5 business days0$

Bonus

TradersWay has 100% bonus on your deposit, which you can select upon account opening.

TradersWay Review - Bonus
TradersWay Review – Bonus

Trading Platform

TradersWay offers good range of platforms including MT4, MT5 and cTrader.  

MT4

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.

cTrader

TradersWay also offers cTrader Web accessible from any device and with no restrictions on cAlgos.

TradersWay Review – Trading platform
TradersWay Review – Trading platform

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 Review – Market Analysis
TradersWay Review – Market Analysis

Education

TradersWay education section does not provide much materials, but runs Webinars and provide trading articles with glossary and analysis.

Demo

Demo Account is provided with unlimited basis for each of the offered platforms.

At TradersWay you can learn though:

  • Demo account
  • Webinars
  • Educational articles and Analysis
TradersWay Review – Education
TradersWay Review – Education

Customer Service

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
  • Telephone
  • Email
TradersWay Review – Customer Service
TradersWay Review – Customer Service

TradersWay Live chat response is fast speed, answers are informative.

Question AskedWe asked about range of instruments.
Time of ReplyWe connect to Live Chat agent within 3 minutes,  
Quality of ReplyThe answer was relevant.  

Conclusion

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.

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.

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