Traders Way Review
Traders Way is best suited for traders who desire to trade with a good choice of advanced trading platforms, such as the MT4, MT5, and cTrader. They offer various trading tools, educational resources, and a knowledgeable client support team. The minimum deposit is $10.
With its head office in Dominica, Traders Way is a retail brokerage firm that was established in 2011. They focus on providing traders with one of the widest opportunities available on the financial markets. The broker allows traders to buy and sell multiple financial instruments across different asset classes, such as forex, metals, commodities, cryptocurrencies, energies, and CFDs. Their clients are provided with the MT4, MT5, and cTrader trading platforms, which are advanced trading platforms that are designed to ensure an enhanced trading experience.
The broker provides clients with competitive trading conditions, such as low commissions, tight spreads, multiple payment methods, and more, regardless of their level of experience or the size of their deposits. There are various learning resources to assist traders. The minimum deposit required to start trading is $10.
Trader’s Way was established by a group of financial market professionals dedicated to spreading the values of free, limitless trading globally. They provide clients with a wide range of opportunities available on financial markets with powerful platforms and flexible account conditions for all types of trading strategy.
There are several reasons why Traders Way is considered a broker of choice by many forex and CFD traders. The broker provides traders with an enhanced trading experience, which is made possible due to their various intuitive trading platforms. They utilize an electronic communication network (ECN) model to ensure transparent pricing direct from liquidity providers (LPs). Traders Way’s other essential features include interbank market access, low commissions, tight spreads, multiple payment methods, and rapid execution speeds with no dealing desk intervention and zero conflict of interest. Traders Way welcomes all trading styles, including scalping, hedging, and expert advisors, irrespective of traders’ initial deposit amount.
- A range of Trading Products across different asset classes
- Low commissions
- Inter market access
- No dealing desk intervention
- Multiple payment methods
- MT4, MT5, cTrader, and other advanced trading platforms
- Speedy trade execution
- Electronic communication network (ECN)
- Free VPS and other useful trading tools
- A vast selection of learning resources
- Islamic account
- Demo account
- Responsive client support team
- Crypto trading and account funding
- Lacks strict regulation
- Traders from some countries not accepted
- No stock CFDs
- Does not offer Autochartist or Trading Central
Traders Way offers a vast selection of financial instruments. The available products are spread across the following asset classes: forex pairs, commodities including precious metals and energies, and cryptocurrencies. Unfortunately, the broker does not offer stocks, indices, bonds, options, and ETFs. You can explore our best stock brokers for some alternatives.
Interestingly, all the available trading instruments can be accessed through any of the broker’s trading platforms, at any time and in any place, without wasting any time switching between various platforms and accounts. Also, despite your trading account tier, you can trade all the provided financial assets. It is important to bear in mind that all markets have their peculiarities, and as such, traders are expected to have a good knowledge of the asset they intend to trade.
Traders Way Instruments Summary
Commission and Spread Fees
Traders Way offers competitive commission fees and tight spreads. Since the broker offers various trading account options, the spread and commission fees may vary depending on the account type you are trading with. They have accounts for day traders, scalpers and automated trading.
There is an option to trade with a fixed spread of 2 pips on the MT4 Fix account, while the MT4 VAR account offers low floating spreads from 0.7 pips. Hence, the broker does not charge any additional commissions for the MT4 FIX and VAR accounts as all the trading costs are already included in the spread.
Moreover, the ECN accounts — MT4 ECN, CT ECN, and MT5 ECN accounts — have minimal spreads, starting from as low as 0.0 pips. However, these ECN accounts have a commission fee of $3 per lot, which means $6 per round turn.
Traders should always remember that the spreads and commission fees can vary depending on the instrument being traded. Overall, the Traders Way has some of the lowest overall trading fees available to retail traders. I would say they are on par with the likes of RoboForex in terms of costs.
|Fee||MT4 FIX||MT4 VAR||MT4 ECN||CT ECN||MT5 ECN|
|Commission (per standard lot per side)||$0||$0||$3||$3||$3|
|Spreads from||2 pips (Fixed spread)||0.7||0.0||0.0||0.0|
Deposit and Withdrawal Fees
While Traders Way does not charge any deposit and withdrawal fees, some third-party payment processors may charge fees that may vary, depending on the payment method in use. Also, all transactions requiring currency conversion by the broker attract a 1.5% currency conversion fee.
Traders Way does not charge an inactivity fee. This is an important advantage as some brokers will start to deduct funds if you do not access or use your trading account for a sustained period.
Traders Way provide you with the advantage of trading with some industry-leading trading platforms to help you get the most out of you trades. The following trading platforms are available at Traders Way: the MT4, MT5, and cTrader trading platforms.
Founded in 2005, MT4 is an advanced trading platform for trading fore and other Trading Products. The platform is owned by a trading software company that is known as MetaQuotes. It has grown to become one of the industry-leading trading platforms today.
There is a lot to love about the MT4 trading platform: it is replete with useful trading tools and enhanced trading functionalities, such as one-click trading, multiple timeframes, various technical indicators, and more. The platform is fully customizable and comes with an intuitive user interface, making it suitable for all levels of traders.
The broker makes the MT4 platform available as a desktop application for Windows and Mac computers, a web trader, and a mobile trading app that is compatible with Android and iOS devices and can be downloaded from the respective app stores. The web version of the MT4 runs directly on modern web browsers, such as Chrome, Safari, Edge, and Firefox, without needing to download or install any additional software. The mobile app is best suited for traders who wish to place trades and check trading positions while on the go as long as there is an internet connection. It is great that there is so much flexibility with the platforms as it means that you can stay on top of your traders from anywhere at any time you wish.
- The platform allows traders to set push alert notifications
- Trade automation using expert advisors
- Allows strategy back testing
- Built-in MQL4 programming interface for creating custom indicators, scripts, expert advisors
- Live quotes
- Drawing tools
- View live account balances and order history
- Available in desktop, web, and mobile versions
- Support for one-click trading
- Multiple charts
- Support for hedging, scalping, and other trading styles
- Technical analysis on the charts with hundreds of indicators
- Nine different timeframes
- Thirty inbuilt indicators and analytical tools
- Alert notifications
The MT5 platform was introduced in 2010 by MetaQuotes to make up for the essential features that were lacking in its predecessor — MT4. As expected, the MT5 trading platform has all of the essential features of MT4. It comes with even more extended features and capabilities, such as 21 timeframes, expert advisors, multiple timeframes, and more. The platform is designed to provide traders with an enhanced trading experience, thanks to its selection of advanced trading functionalities, such as faster processing times, the ability to hedge positions, advanced pending order functionality, and more tools and indicators.
The MT5 trading platform is available as a desktop application for Windows and Mac computers, WebTrader, and a mobile app that is designed for smartphone devices running on Android and iOS. The mobile app is best suited for traders who wish to access their trading accounts and place trades while on the move, provided there is an internet connection.
MT5 Platform features:
- Intuitive user interface
- Web, desktop, and mobile
- Hedging allowed
- Scalping allowed
- Trade automation using expert advisors
- Features 21 timeframes
- Depth of market
- Over 38 built-in technical indicators
- Offers built-in trading tools
- Faster trade processing times
- Fully customizable platform
- Maximum of 500 total orders
- Advanced pending orders
The cTrader is an intuitive trading platform that is best suited for ECN/STP trading. It brings institutional-grade trading to retail traders. The trading platform has support for manual trading with advanced charting capabilities and one-click functionality. Also, there are multiple indicators for technical analysis, multiple timeframes, detachable charts, templates, and more. As a result of the cAlgo proprietary algorithmic platform, traders can carry out fully automated trading.
Other essential features of the cTrader trading platform include fast entry and execution, trade automation, strategy back testing, and more. The platform is designed with a fully customizable user interface to meet the trading needs of all types of traders. It permits users to customize watchlists, email, and push notifications. The platform is available in desktop, web, and mobile versions. I think this is a great choice of platform for professional traders and you will not find it available through many other brokers, although FXPIG do have it along with both of the MetaTrader platforms.
- Available in desktop, web, and mobile versions
- Supports trade automation using cAlgo
- Several built-in trading tools
- Advanced risk management tools
- Allows coding in C#
- Open API is available
- Large range of indicators
- Detailed order tickets, including base currency dollar value or pip distance
- Allows addition of multiple take-profit orders
- Intuitive user interface
- Hedging allowed
- Scalping allowed
Traders Way Platforms Summary
|MetaTrader 4 (MT4)||✓|
|MetaTrader 5 (MT5)||✓|
MetaTrader Trading Signals
These are signal providers on the MetaTrader platforms. They allow traders to copy other traders’ signals directly into their terminal for free or a monthly fee. You can browse the signal providers and review their performance, then subscribe to any signals that appeal to you. You may also offer your signals.
VPS Hosting Service
Traders Way’s VPS hosting service is designed to provide traders with an uninterrupted 24/7 service, ensuring the absence of downtimes. It enables you to always run your trading platform without needing your computer switched on and accessed remotely. This is often seen as a solution for those who wish to run expert advisors (EA) around the clock.
The VPS’s are hosted close to Traders Way’s main server for maximum uptime, irrespective of your internet connection. VPS’s come with MetaTrader preinstalled and are capable of running several trading terminals simultaneously. If you are looking to run automated systems, you might want a VPS. If that is the case, you can get a free VPS through brokers such as Blueberry Markets and Key to Markets.
Traders Way has a vast selection of learning resources in their trading academy. These educational resources are scattered sporadically across their website, and they cover some of the basic trading principles that would be useful to novice traders. In addition, there are various video tutorials and trading guides to help traders make informed trading decisions.
This section of the Trader’s Way website has weekly market outlooks that detail technical and fundamental analysis. These can be used to inspire trading ideas.
The Company News section is s compilation of the latest updates on the events in the financial markets. It provides traders with a comprehensive overview and insight of global markets, and as such, it can be used for fundamental analysis.
Trader’s Way provides traders with an economic calendar. It is an essential research tool that shows the schedule of future market events and their expected impacts on the global financial markets. This calendar can be useful to stay in the loop with the latest market news and for fundamental analysis.
Trader’s Way provides clients free live webinars that can help improve trading knowledge and skills. These regular live webinars allow traders to join veteran forex trader Wayne McDonell, as he shares his market outlook based on over ten years of experience as a currency trader. The live webinars cover various trading topics, such as fundamental/technical analysis, market sentiment, support/resistance, trading strategies, Q&A, and more.
FAQs are a comprehensive list of traders’ most common questions and their corresponding detailed answers. At Traders Way, the FAQ section contains common questions about account management, deposits/withdrawals, trading conditions, trading hour changes, security of funds, MetaTrader 4, and more.
Traders Way Research and Education Summary
Traders Way’s payment methods are available for account deposits and withdrawals, including bank transfers, credit cards, cryptocurrency, and online payment processors. The accounts are denominated in various currencies — USD, EUR, CAD, GBP — to avoid currency conversion fees.
To make a deposit or withdrawal, you should log into your private client area, choose your preferred payment option, and follow the instructions. You can contact the support team if you have any questions regarding deposits or withdrawals. I think they have a good selection of payment options with something for everyone.
Traders Way Funding Summary
Traders Way is legally registered in Dominica and registered under the name TW Corp. However, there is no regulatory information on the broker’s website at the moment. If you would prefer to trade with a regulated broker, AvaTrade are regulated in various countries and have a great range of financial products.
Despite being an unregulated retail broker, Traders Way asserts to have several security policies to ensure clients’ funds’ overall safety. Traders Way claims to keep client funds in banks segregated from their funds. They also implement strict internal policies and procedures to ensure they maintain high business standards.
Traders Way Regulation Summary
|SFC (Hong Kong)||x|
Traders Way Safety
Traders Way ensures that their traders have little to worry about the safety of their invested funds. As a result, they keep clients’ funds in segregated bank accounts. This means that client funds should not be used for any other purpose and must be available for withdrawal at any time. Cash flows are organized to ensure company expenditure cannot be processed from accounts that are holding clients’ money.
In addition, Traders Way implements strict internal policies and procedures to ensure they maintain high business standards. These strict AML & KYC policies are in place to combat money laundering and inappropriate usage of funds. They also comply with the highest standard of security concerning finance handling and technology. There is a risk management policy in place based on years of market experience and knowledge.
The broker’s knowledgeable client support team is available 24/5 to respond to clients’ general, technical, and account-related inquiries. The support team can be reached via the following contact channels: telephone, email, and live chat. I think they could improve by extending support to weekends, something that a competitor in Hugo’s Way do.
Launched in 2011, Traders Way is an online trading broker that operates from Dominica. They are focused on providing traders with unhindered access to the global financial markets. Their clients are provided with advanced trading platforms: MT4, MT5, and cTrader. There are various learning resources to assist traders. Traders Way offers competitive online trading conditions, including multiple trading account types, various funding options, tight spreads, low commissions, responsive client support, and more. The minimum deposit required to start trading is $10.
Overall, I think the broker has platforms and accounts for all types of trading strategy. They also provide some additional resources to assist with your market analysis and to help you make informed decisions. There is also a good choice of account funding options. However, they are not regulated which is something that may deter potential traders from opening an account.