Detailed Trader’s Way Forex Broker Review:
An ambiguous first impression of Trader’s Way. On the one hand, the company designed a convenient site that adapts to ten languages, has well-thought-out navigation and modern design. On the other hand, the broker does not have a license of a financial regulator and registration for residents from the USA and Great Britain is closed – this indicates that in case of legal disputes the client will not be able to protect his interests and cede the company. To be honest, we were very surprised that Trader’s Way works without a license. If you carefully look at the project, then by all other signs you will see a serious international broker who you are not sorry to entrust any deposit. Therefore, until it makes any conclusions, we will deal with additional trading conditions and assess the existing advantages and disadvantages.
|Year of foundation||2011|
|Platforms||Metatrader 4, Metatrader 5, cTrader, Mobile Apps and Metatrader 4 MAM|
|Markets & Products||Currency Pairs, Futures, CFDs|
|Spreads||From 0 pips|
|Minimum deposit||From $ 1|
|Maximum leverage||1: 1000|
|Types of accounts||MICRO, VAR, FIX, ECN, CRYPTO - all accounts are presented in standard and Islamic variations|
|Deposit & withdrawal||MasterCard, VLOAD, Visa, Bank Transfer, cryptocurrencies (bitcoin, ether, ripple, USDC, USDT), UPay Card, Moneybookers, Neteller, Perfect Money, and Fasapay|
For most trading accounts, Trader’s Way offers to use the mobile or stationary version of the Metatrader 4 terminal. For this program, you can install the QuickDeal application, which is useful for scalpers and allows you to open deals in one click. If you use automatic robots, then
You can connect brokerage VPS hosting to MT4 and switch to round-the-clock trading – you can turn off your PC and not worry about internet problems.
You can use the browser version of Metatrader, download the fifth version of the program or install the cTrader platform if do not like the standard terminal. Also on the site, many specific programs available simplify the development of new automatic strategies or indicators, and help to use the service for copying transactions of other traders. See the section “Trading Platforms” for a complete list of all terminals and the application.
The entire line of assets is divided into three categories: currency pairs, metals, and energy. At the same time, metals are limited to gold and silver, and energy is contracted for oil and gas. The company also has a special CRYPTO account, a list of instruments for which has not been published anywhere – details can be found only after registration and opening a trading account (live or demo). If changes occur in the future and the number of available trading assets expands, then you can track the changes in the “Markets” section.
Fees & charges
No additional payments are provided for MICRO, VAR, FIX trading accounts other than the commission of the payment systems used – you pay the spread and do not owe anything else. Separate conditions are provided for ECN accounts, where spreads can be reduced to zero and the commission is from $ 10 per transaction. To find out more, see a comparison of account types in the Trading Conditions section.
All communication methods with Trader’s Way managers are described in the Contact Us section. There is mail, phone, online chat and links to social networks (twitter, facebook). The postal address for traders who do not know English and can communicate other languages. There is also a special mail with the Compliance Department coordinates – here you can send a complaint if the broker did not help or ignored the appeal.
To get acquainted with the Forex currency market, a section is provided for “Beginners”. It briefly describes the features of working in the forex market with CFD-contracts. No videos, webinars, interactive tutorials, or any additional reference guides.
At the time of the review, in the “Promotions” section there are two offers for all Trader’s Way customers. First: you can start working with ECN accounts by adding only $ 10 to the balance. Second: you can replenish the deposit in the amount of up to $ 5,000, fulfill several special conditions and receive 100% of the deposited amount in the account.
Trader’s Way: advantages and disadvantages
- A convenient size that can adapt to most languages.
- There are several varieties of trading platforms that are installed on all modern gadgets and supplemented with useful applications.
- There are no requirements for the minimum deposit amount.
- There are no hidden fees and you can adjust the size of the spread.
- There are many ways to contact tech support and mail.
- There is a bonus program to increase the initial deposit.
- The broker works without a license from a well-known financial regulator.
- A limited line of trading instruments.
- A weak educational program, after passing which it will not work from scratch to deal with all the nuances of currency trading.
- There is no referral program.
Trader’s Way is a modern company that has all the prerequisites to become a leader in the field of forex trading. The broker has several minor flaws, but the main problem is the lack of a license from a financial regulator. If in the future the company receives a license and its current conditions do not change or become better, then we will recommend it.
While there is no license - your money is at risk and it is better not to risk it.