Review of TradersWay: Trading Platforms, Client Benefits, and Pros and Cons

TradersWay, situated in Dominica and operating under the name TW Corp, is a forex and CFD broker that operates without regulation. Their primary objective is to offer traders extensive opportunities across global financial markets. Established in 2011, TradersWay earned recognition as the "Best STP/ECN Broker" in 2014 by the Forex Report Awards. Additionally, Wayne McDonell, the chief FX market strategist at TradersWay, received FXStreet's "Best Speaker Award" in 2016 for his valuable educational content within the trading community.

Market Access:

TradersWay grants access to trading the most popular forex pairs, along with CFDs linked to assets like Bitcoin, precious metals, and oil. While their spreads are not the most competitive in the industry, they are situated at a mid-level range compared to their competitors.

Trading Platforms:

TradersWay extends a diverse range of trading platforms to its clients. These include the popular MetaTrader 4 and 5, as well as the newer cTrader platform, tailored for use with the broker's ECN accounts. Additionally, solutions like Myfxbook Autotrade are available, allowing clients to link their MT4 accounts to the Autotrade system for automated "copy trading."

Account Types:

TradersWay offers five live account types and a standard demo account to cater to varying trading preferences. The live trading accounts include:

·       MT4.FIX: A standard trading account with fixed spreads starting from 2 pips.

·       MT4.VAR: Similar to the above but with dynamic spreads starting from 0.7 pips.

·       MT4.ECN: A commission-based ECN account with tighter spreads starting from 0 pips.

·       MT5.ECN: Equivalent to MT4.ECN but designed for the MT5 trading platform.

·       CT.ECN: An ECN account tailored for the cTrader platform with spreads starting from 0 pips.

Promotion for New Traders:

Currently, TradersWay is offering a 100% deposit bonus for new traders, with a limit of $5,000 per account and applicable only to MT4 accounts. While the bonus amount itself cannot be withdrawn, any profits generated using the bonus are freely withdrawable.

Educational Resources:

Traders can enhance their trading skills through a convenient economic calendar and live webinars hosted by Wayne McDonell, the broker's renowned chief FX strategist. These webinars are conducted from Monday to Thursday during the London lunch break and cover market-moving events, relevant technical levels, and topics of interest to traders. Past webinar sessions are also accessible on YouTube for viewing at one's convenience.

Deposits and Withdrawals:

TradersWay supports a wide range of common payment methods, including international bank wire transfers, credit and debit cards, and various e-wallet services such as Skrill and Neteller. Additionally, the broker accepts deposits in various cryptocurrencies, including Bitcoin, Litecoin, and Ether.

Customer Support:

TradersWay's customer service can be reached via a US phone number, live chat, or email. While the broker does not specify customer support working hours, they commit to processing all inquiries within 24 hours on business days.

Pros and Cons of Trading with TradersWay:

Advantages of Trading with TradersWay:

·       Optimal trading conditions for experienced and professional traders, featuring tight spreads and low trading commissions on ECN accounts.

·       No trading limitations, allowing hedging, scalping, and the use of algorithmic advisors.

·       Availability of several social trading platforms for copying trades of successful traders.

·       Despite not offering the tightest spreads, there are distinct advantages to trading with an offshore broker like TradersWay. These include a straightforward registration process and notably high trading leverage.

·       TradersWay provides a maximum leverage of 1:1,000, enabling even traders with limited capital to wield substantial buying power in the market.

Disadvantages of Trading with TradersWay:

·       Absence of cent (micro) accounts.

·       Unavailability of investment in PAMM, MAM, and RAMM accounts.

·       Complex verification process, requiring certified translations of documents into English.

·       Lack of proprietary analytics provided to customers.

·       No Russian-speaking operators available on the online chat.

Tradersway Broker Details

Disclaimer: - We at forexoverflow do not endorse neither refer anyone to trading broker websites. The information is for educational purpose and source of information is from the broker website.