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Tradersway Review: Fraudulent Broker Who Is Untraceable
Table of Content
TradersWay broker operates since 2011 from the Commonwealth of Dominica. This country is known as a hub for suspicious companies, especially from the trading world. Moreover, on the same address, there are multiple scam companies registered.
|Offshore scam broker
|Active forex trading scam
|Blacklisted as a Scam by:
|Commonwealth of Dominica
|Online Trading Platforms:
|Available 100% bonus
|Crypto Asset Trading:
|Yes – BTC, XRP, ETH
|CFD Trading Option:
|CFDs are available
|Available Trading Instruments:
|Forex, Commodities, Indices, Shares, Cryptocurrencies
|Free Demo Account:
|Accepts US clients:
Not only this but many more discrepancies we will reveal in this TradersWay review.
Regulation of Tradersway and Funds Security
TradersWay scam broker strongly fights against regulation. Their company politics is that no regulation can protect you. But if you take a look at the conditions for FCA, BaFin or ASIC you will see a different story. They require certain initial capital, funds protection features and compensation fund. However, TradersWay trading company doesn’t have these regulations, therefore no client protection.
We could see so many non-regulated brokers like this one. They are all promising safety but nobody delivers. Moreover, with trading conditions that don’t comply with any regulations you can’t expect anything good. In addition to that you have many negative reviews.
If this is not enough reason for you to rethink investing with this broker, here is another clue. Actually, CNMV, a regulator from Spain, has issued a warning against this company.
Review of Tradersway Trading Software
TradersWay did its due diligence and provided one of the most trusted trading software. It allows traders to use MT4 and MT5. Even more importantly, you can use all features on Android and iOS mobile devices. On top of that, you can use as well cTrader. That is the biggest competitor of Meta Trader.
Some of the crucial options available with such platforms are:
- Social trading
- Copy trading
- Multi-chart views
- Scalping, hedging and netting
- Automated trading tools
- Numerous trading indicators
- Lightning-fast trade executions
But if you make profits with all these tools and you can’t withdraw it, it’s a sad situation. In fact, that’s exactly what traders reported in TradersWay broker reviews. With this in mind, it’s better to find a Tier 1 regulated broker and trade without any worries.
What Account Types Does Tradersway Offer?
To open a live trading account you must choose between 3 options. Those are:
- MT4 VAR
- ECN MT4
- MT5 ECN
- CT ECN
All three accounts provide you with leverage of up to 1:1000. Considering that the maximum allowed all across Europe is 1:30, this is insane. Especially without negative balance protection. Nevertheless, the minimum deposit is acceptable and starts at $10. The broker advertises tight spreads starting from 0 pips. But if they will match those conditions you have to test your luck.
Since they are not regulated broker, they are not obligated to do so. But on the positive side, they provide a demo account as well. You can test everything out, but the real picture clarifies once you start trading with real money. We strongly advise you to find a broker that has a trading license and a bit better reputation.
Important to realize is that the broker doesn’t reveal any commissions or fees. All this missing information is transparent with Tier 1 regulated brokers. Thus, TradersWay scam broker claims that regulation is not important.
What Can Be Traded on Tradersway Market?
As with many other scam companies, trading instruments are irrelevant. That’s just another point where they try to mimic regulated companies. Therefore, they will give you a bunch of options. For instance:
- Forex GBP/EUR, AUD/SGD, HKD/USD
- Commodities gold, platinum, silver
- Indices FTSE 100, S&P 500, Dow Jones
- Shares Alibaba, Microsoft, Pfizer
- Cryptos BTC, Ripple, Solana
As mentioned above, they offer the insanely high leverage. In combination with extremely volatile cryptos disaster can’t be avoided. If we can say it’s positive, the broker has spreads starting from 0 pips. However, undisclosed fees are the ones that are worrying us. Moreover, only one account has available swap-free option.
Tradersway Deposit and Withdrawal Process
Even though the broker promotes numerous payment options, that doesn’t make them trusted. Some of those are:
- Credit/debit cards via vLoad
- Wire transfers
- Local transfers (for some countries)
- Cryptos (BTC, Tether, Litecoin, USDT, USDC)
- E-Payments (Skrill, Neteller, FasaPay, PerfectMoney)
Important to realize is that for every transaction that requires conversion, they charge a 1.5% fee. Moreover, if you have some pending withdrawals you can’t open another request. The broker claims to process withdrawals within 48 business hours. As we can see from TradersWay reviews, withdrawals are the ones where traders have the most issues.
Some of the ways they will prolong this processing time are inadequate verification documents and bonus policies. Generally speaking, bonuses are banned all across the world for those reasons. Traders need to make insanely high trading volume to make a withdrawal. Which is mostly impossible to reach.
How Do I Get a Refund If I Was Swindled by Tradersway?
Don’t be ashamed if you did get scammed by TradersWay broker. They are master copycats. That’s why you should work with a regulated broker. The regulatory institution can advise you on any step against the broker. In this case, you need a third party like our fund-recovery team.
As specialized in financial transfers, our team can guide you step-by-step in the fund recovery process. Especially if you were making the crypto transfer, which can only be traced with Cipher Trace. Luckily our team has access to such technology. Don’t miss the chance to get your money back. Contact us now and book your first consultation.
- Non-regulated offshore broker.
- Risky trading conditions.
- MT4, MT5 and cTrader are available.
- Many negative reviews against the broker.
- Warning from Spanish regulator CNMV.
FAQs About Tradersway Broker:
Is Tradersway A Good Broker?
No. The broker doesn’t have a license and they earned a warning from the Spanish CNMV.
What Are The Funding Methods For Tradersway?
Broker provides numerous funding methods from cards, bank transfers and cryptos to e-payment options.
Does Tradersway Offer a Demo Account?
Yes. There is an option to test their services through both platforms, MT and cTrader.