TradersWay Broker Review 2024

TradersWay is one of the less-known Forex brokers operating since 2011. You can start with only $10 on 4 distinct trading accounts with this broker. Also, it provides 24/7 support.

Is there anything unique about this brokerage? Read this comprehensive TradersWay review to learn about its trading platforms, account types, commissions & costs, etc. in detail.

 A comprehensive review of TradersWay with details and specifics

Company Investigation & Regulating Bodies

TradersWay is a forex broker that has been operating since 2011 and headquartered in the Commonwealth of Dominica, providing traders access to global financial markets through popular platforms.

While the company aims to provide a flexible and customer-oriented brokerage experience, it's important to note that it is not regulated by any major financial authority. This lack of regulation may be a concern for some traders as trading with an unregulated broker comes with an increased level of risk.

Key Specifications and Important Features

Every company operates based on a set of key features‌ that are crucial to know about. Here's a quick overview of TradersWay's specifics:

Trading Accounts in Detail

TradersWay provides 4 different account types based on its trading platforms. In the table below, we will investigate each and compare them together:

All account types have a minimum deposit of $10. Also, a demo account is provided for improving trading skills without the risk of losing real money.

What Advantages And Disadvantages Should You Know About?

Every brokerage has benefits and drawbacks in its own way, but some of them are negligible. Let's weigh the important pros and cons of trading with TradersWay:

While TradersWay offers a flexible trading environment with diverse instruments, the lack of regulation and certain safety features may be concerning for some traders.

How to Register & Verify Your Account

Opening an account with TradersWay is relatively straightforward. Here's a step-by-step guide:

• Visit the website and click "Private Office";
• Click "Open account now". Alternatively, sign up with your Google account;

Alt: Tradersway private office

Caption: Click "Open account now" to enter the sign up form on TradersWay broker

• Enter the personal information, including full name, country of residence, email address, phone number, and birthday in the form;
• Choose your desired account type and select an option from the "How did you hear about us?" menu;
• Choose your trading account and check the box below.

Then, your account will be created and its details will be shown in the next page. For verification, you will need to provide a personal ID and a proof of your address on the website.

Trading Platforms and Applications

Brokerages employ third-party platforms to offer trading services. TradersWay offers three popular and well-known trading platforms:

• MetaTrader 4 (MT4)
• MetaTrader 5 (MT5)
• cTrader

MetaTrader platforms offer one-click trading via the QuickDeal tool. On the other hand, cTrader is especially designed for ECN traders, and only the ECN account is available on it. Download cTrader for your mobile devices through these links:

• Android
• iOS

The choice of platform depends on your trading style, experience level, and specific needs.

Spreads And Commissions in TradersWay

The broker has tried to provide transparent and accurate information about spreads and commissions in trading accounts. We will discuss them in the table below:

There are no other fees, including inactivity, deposit, or withdrawal costs. Overall, the broker does a good job in this part.

Payment Options and Tools

Deposits and withdrawals cannot be done via any method from every region. Therefore, you should consider this factor when choosing a brokerage. TradersWay offers a wide range of deposit and withdrawal options:

• Cryptocurrencies: Bitcoin, Ether, Litecoin, Ripple, USDC, USDT, TUSD Stellar
• E-wallets: Skrill, Neteller, Perfect Money, FasaPay
• Bank Transfers: Abra
• Local Transfer Methods: For several countries (Malaysia, Vietnam, Nigeria, India)

Always verify the supported payment options in your Private Office before making transactions.

Does TradersWay Offer Any Investment Options?

This broker aims at attracting bot active traders and passive investors. It offers copy trading options through:

• cTrader Copy:
  • Available on the cTrader platform
  • Allows you to automatically follow successful traders
  • Choose the strategy provider you find the most profitable from a range of options
• FxStat AutoTrading:
  • Third-party service integrated with TradersWay
  • Provides access to a wide range of trading strategies
  • Allows for customization and risk management

Also, traders have the option to use MT4 Trading Signals service that is available on the platform. These copy trading options can be beneficial for beginners or those who lack time for active trading.

Bonuses And Promotions Offered by TradersWay

Offering bonuses is a marketing solution for brokers to attract traders. TradersWay offers a 100% deposit bonus promotion for its clients. Key details include:

• Available for MT4 accounts;
• Maximum bonus amount is $5,000;
• $0.5 is moved from "Credit" to "Balance" for every 1 lot traded;
• Subject to terms and conditions which is available on the website.

While this bonus can provide additional trading capital, be sure to read and understand all terms and conditions before participating in any promotional offers.

Customer Services Working Hours and Contact Channels

TradersWay provides customer support through these channels:

• Live Chat: Available on the website
• Phone: +1 849 9370815
• Email: For less urgent inquiries via support@tradersway.com

Based on our investigations on the website, there's no exact working schedule available for the support team. However, they state that on business days, "all inquiries are processed within 24 hours".

Restricted Countries: Am I Eligible to Trade on TradersWay?

While the company accepts clients from many countries, certain restrictions apply. Although there is no exact list of restricted countries and regions, this list includes the most likely candidates:

• United States
• United Kingdom
• Iraq
• Islamic Republic of Iran
• Afghanistan
• North Korea
• Syria
• Sudan

If you are from one of the countries above, contact the broker's support team to make sure about the availability of its services.

User Reviews and Trust Scores

Websites like Trustpilot and ForexPeaceArmy provide a facility for evaluating companies, so we can check out trust scores on them. TradersWay has received mixed reviews from traders:

• Trustpilot: 4.1/5, over 50 scores with nearly 60% of them being 5-star

• ForexPeaceArmy: 3.5/5, more than 370 reviews

While the overall sentiment seems positive, it's important to consider both the pros and cons when making your decision.

TradersWay provides educational resources to help traders improve their skills:

• Trading guides
• Video tutorials
• Webinars
• Economic calendar

While these resources can be helpful, especially for beginners, the extent and depth of the educational content may not be as comprehensive as what's offered by some larger, more feature-rich brokers.

Conclusion And Final Words

TradersWay is a Forex broker with a 100% deposit bonus and other benefits such as 4 trading accounts and leverage up to 1:1000. With all its advantages, there's one thing you need to seriously consider.

As mentioned in the review, this company is not regulated by any financial authority, not even a low-tier one. This is not common among brokers, therefore, be cautious in working with TradersWay.