TradersWay Review – What to expect from the broker

TradersWay is a CFD Broker that features on its trading platform CFDs on forex, commodities and cryptocurrencies. The broker charges on a popular currency pair EUR/USD a fixed spread of 2.0 pips*. Trading with real funds is possible with a minimum deposit of $2 (or equivalent in other currency). The TradersWay website is available in English, French, Spanish, Russian, Indonesian, Chinese, Arabic and Polish.

What do we cover in our TradersWay Review?


General Risk Warning: 74–89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Basic information about the broker

  • Website address: www.TradersWay.com
  • Instruments: CFDs on forex, commodities and cryptocurrencies
  • Minimum deposit: $2 (account base currencies: USD, EUR, CAD, GBP)
  • Demo account: Yes, free of charge
  • Methods of deposit and withdrawal: Credit and Debit cars, Bank transfer, cryptocurrencies (BTC, LTC, ETH…), Skrill, Neteller, Perfect Money, FasaPay

TradersWay Trading Platform

In total,  TradersWay offers 3 trading platforms: MT4, MT5 and cTRADER. MT4, as well as MT5, are popular platforms used not only for executing trades but also for analyzing financial markets and automated trading. MT4 and MT5 can be downloaded to any computer or can be accessed via just a web browser or a mobile application.

TradersWay Fees (spreads)

As any other CFD broker, TradersWay charges a spread fee. For the most current spread charges, please visit the TradersWay official website. Here is a spread comparison table that contrasts TradersWay spreads with popular industry competitors.


Asset EUR/USD USD/JPY GBP/USD AUD/USD
TradersWay* 2.0 2.0 3.0 3.0
Plus500** 0.6 0.7 1.1 0.6
IQOption** 1.2 0.9 1.5 1.6

*Fixed spreads recorded on 08.05.2020 at 20:10 GMT for the MT4.fix account. Data about spreads were taken either from the website of the broker. **Spreads recorded on 26.09.2019 at 11:26 GMT from the trading platform of the broker.

TradersWay Account types

Tradersway offers the following account types: MT4.FIX., MT4.VAR., MT4.ECN., MT5.ECN. and CT.ECN. Each account type differs in the minimum deposit and in the spread charges.

Is TradersWay regulated?

No, according to our thorough research on the company, we found out that TradersWay is not a regulated broker. As such, it cannot legally operate on the market and offer its services to any FX/CFD trader. The company operates only with offshore Dominica registration.

Is TradersWay a scam?

Because TradersWay is not regulated by any financial authority, it might be a scam. However, we do not know that for sure and we don’t want to assume such. What is sure, however, is that it is a high-risk brokerage firm which lacks any financial regulation.

Advantages and disadvantages

Every Broker has its pros and cons, let’s have a look at the ones that elevate & denounce TradersWay.

TradersWay Pros
  • 3 trading platforms
TradersWay Cons
  • Is not regulated by any financial regulator
  • Do not accept UK traders

To sum up the TradersWay Review

While TradersWay features 3 popular trading platforms and offers a lot of deposit and withdrawal methods, we cannot recommend it to anyone as the broker is not regulated by any reputable financial regulator and it might not be safe to trade with the company.

 

Your review can make a difference to other traders, please leave a comment if you have any personal experience with TradersWay.



Michael
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