Trader's Way Review
- Tight spreads, low commission fees & rapid execution speeds
- Easy to use trading platforms
- Multiple account funding options
- Electronic communication network (ECN)
- Fixed & variable spread accounts
- Commission free accounts
- Free VPS
- QuickDeal Tool
- FxWire Pro Newsfeed
- Islamic accounts
- 24-hour customer support
- Platforms: MetaTrader 4, MetaTrader 5, cTrader, Web, Mobile
Traders Way Overview
Founded in 2011, Traders Way is an online trading broker that provides clients across the globe access to trade a range of markets including Forex, Commodities, Cryptocurrency, Metals, Energies CFDs.
Traders Way offer a range of different trading platforms including the popular MT4 MT5 platforms. Account types are flexible to suit individual trader needs and levels of skill. The mobile apps and web trading platforms make trading on the go possible. There are a range of tools to assist with market analysis and to increase trading efficiency.
Traders Way use an electronic communication network (ECN) model which ensures transparent pricing direct from liquidity providers (LPs), interbank market access, good execution speeds and the tightest spreads possible. There is no dealing desk to ensure no conflict of interest between broker and clients.
The minimum deposit starts from just $5 with flexible leverage of up to 1:1000 available. Variable spreads start from just 0 pips with competitive commissions or you can opt for a fixed spread account with spreads starting from 2 pips and no commission charged.
There are no restrictions on trading, whatever your initial deposit or account type, scalping, hedging and expert advisors are allowed. There are multiple funding options and swap free Islamic accounts that comply with Sharia law are available.
The Traders Way philosophy is to offer clients maximum opportunities and freedom through trading. This is achieved by the trading technologies and services provided to all clients. Regardless of experience or account size, each client is treated with the upmost respect.
Traders Way Regulation
Traders Way is an unregulated offshore broker that is legally registered in Dominica and registered under the name TW Corp.
Traders Way claim to keep client funds in banks segregated from their own funds. 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 in a way that ensures company expenditure cannot be processed from accounts that are holding clients money. Larger ECN account funds are partially kept with liquidity providers so withdrawal time may be longer according to the safety of funds statement on the website.
Traders Way implement strict internal policies and procedures to ensure they maintain high business standards. Strict AML KYC policies are in place to combat against money laundering and inappropriate usage of funds. They also comply with the highest standard of security in relation to finance handling and technology. There is a risk management policy in place based on years of market experience and knowledge. By providing maximum transparency and security they aim to build long lasting relationships with clients, despite the lack of regulation from a government authority.
Traders Way Countries
Traders Way accept clients from all over the world, excluding some countries where restrictions apply. Some Trader’s Way broker features and products mentioned within this Trader’s Way review may not be available to traders from specific countries due to legal restrictions.
Traders Way Platforms
Traders Way have a good selection of trading platforms to suit all levels of trader skills and expertise. They have the hugely popular MetaTrader, the powerful and advanced cTrader platform as well as mobile and web platforms.
There is also the QuickDeal tool which brings market depth level 2 pricing and one-click trading to MetaTrader. This tool along with the STP/ECN trading engine transforms the standard MetaTrader into a more advanced STP/ECN trading platform.
MetaTrader 4 (MT4)
MT4 is the most widely used trading platform and is offered by Trader’s Way with direct interbank market access (DMA). It is very user friendly with an intuitive interface and ton of features for a fully customisable trading environment.
There are 50 built in technical indicators for chart analysis, drawing objects, 9 timeframes, multiple order types, alerts, real-time price quotes in the market watch and a MetaEditor for creating your own custom indicators or automated strategies in the MQL4 programming language. There is also a strategy tester for back testing expert advisors (EAs) over historical data which can be downloaded from the MT4 server from within the platform.
Information exchanged between the MT4 terminal and servers is protected by a 128-bit key for safety of trading transactions.
MT4 is available on desktop (Windows / Mac), web and mobile (iPhone / iPad / Android / Tablet).
MetaTrader 5 (MT5)
MT5 is the successor to MT4 and next generation of trading terminal. The interface is very similar to MT4 although there are a few added features such as more order/execution types, 21 timeframes, 80 technical indicators and a strategy tester capable of back testing multiple currencies.
The implemented financial news and economic calendar can be used to keep up to date with the latest market happenings and for fundamental analysis. The Depth of Market (DOM) displays bids and asks for a particular instrument at the best prices (closest to the market) at the moment. The DOM window also shows the volume of each order.
MT5 is available on desktop (Windows / Mac), web and mobile (iPhone / iPad / Android / Tablet).
MetaTrader Web Terminal
The MetaTrader web terminal has the same functionality and interface as the desktop platforms without needing to install or run any software. You simply launch the platform within your browser. Any transmitted information is securely encrypted.
MetaTrader Mobile Platform
The MetaTrader mobile apps allow you to access and manage your trading account on the go from any portable device such as a mobile phone or tablet. This is useful if you want to keep up to date with the markets and your positions but do not have access to your desktop computer. You can use the mobile platforms from anywhere in the world with an internet connection. Mobile platforms are available for download on both Android and iOS.
cTrader is another user-friendly platform that is full of features and designed for ECN/STP trading. It makes the advantages that the institutional traders have available to retail traders including superior execution speeds (milliseconds) and level 2 pricing.
Trades are routed through ECNs direct to liquidity providers such as global banks, thus giving a transparent live trading environment with no broker dealing desk to interfere and a level playing field.
cTrader supports manual trading with advanced charting capabilities and one click functionality. There are multiple indicators for technical analysis, multiple timeframes, detachable charts, templates and more. Fully automated trading is also possible via the cAlgo proprietary algorithmic platform.
cTrader’s depth of market shows the full range of executable prices coming from liquidity providers. Orders are executed against the full order book using Volume Weighted Average Price (VWAP).
cTrader Web Terminal
cTrader web terminal has the same features as the desktop platform without the need for installing or running any additional software. You can trade from any computer with an internet connection and gain access to transparent pricing, fast speeds, and all the features of cTrader directly in your browser.
The cTrader mobile applications are available on Android and iOS so that you can trade whilst on the go using any compatible mobile device. The core functionality of cTrader remains. You simply install the cTrader mobile app and log in with your Trader’s Way account number and password.
Traders Way Trading Tools
Traders Way have a variety of trading tools that can be used to improve trading efficiency, market analysis and for trading signals.
The QuickDeal tool is an addon for MT4 MT5 that enables market depth level 2 pricing and one-click trading in the platforms. Market depth gives you a more detailed insight into the market to help with trading decisions whereas one-click trading allows you to quickly and conveniently place, manage and close trades.
The cMirror application allows you to copy (mirror) the trades of other signal providers or offer your own signals. Providers charge a commission for using their signal service. Signals are opened and closed fully automated whilst you can set your own customised risk management settings and stop the mirroring process at any time. Signal providers trading history and current positions are available to view to see if they are a suitable option. It must be noted that past performance is by no means any guarantee of future performance.
MetaTrader Trading Signals
The MetaTrader platforms have a built-in social trading service where you can copy other traders signals directly into your terminal for free or a monthly fee. You can browse the signal providers and review their performance then choose to subscribe to any signals that appeal to you. You may also offer your own signals. Again, historical performance is absolutely no guarantee of future performance.
VPS Hosting Service
Trader’s Way offer eligible clients a high-quality virtual private server (VPS) with a 24/7 connection. To qualify for a free VPS, you will need a minimum deposit of at least $1,000, minimum 5 trades and 10 lots in volume monthly. If you get the VPS but do not meet the minimum requirements you may be charged the monthly cost.
A VPS enables you to always run your trading platform without needing your computer switch on and can be 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 in close proximity to Traders Way’s main server, for maximum uptime whatever your own internet connection. VPS’s come with MetaTrader preinstalled and are capable of running several trading terminals simultaneously.
FxWire Pro Newsfeed
FxWire Pro by IBTimes is a professional grade real-time financial market newsfeed that is integrated into Trader’s Way MetaTrader platforms. It provides traders with a comprehensive overview and insight of global markets which can be used for fundamental analysis.
IBTimes is a global network of journalists from over 13 countries that convey the most important markets news in an easy to digest format, saving time reading through multiple news releases from various sources. 600 items of news are covered every day with alerts for economic releases, round the clock news covering all market trading hours, reviews of daily events and overview of upcoming events.
Trader’s Way have an integrated economic calendar on their website that is provided by MetaQuotes, the Russian developer of MetaTrader. This calendar displays recent and upcoming news releases, the markets impacted along with the forecasted and actual results. This calendar can be useful to stay in the loop with the latest market news and for fundamental analysis.
Traders Way Education
Traders way have sections scattered sporadically across their website that cover some of the basic trading principles that would be useful to novice traders. Other than that, educational material in terms of video tutorials and trading guides are limited although they do provide weekly market outlooks and webinars that can help improve understanding of the financial markets.
This section of the Trader’s Way website has weekly market outlooks that cover technical and fundamental analysis in detail. These can be used to inspire trading ideas.
Trader’s Way provide clients free live webinars that can help improve trading knowledge and skills. They are conducted by veteran market expert and Chief FX Strategist for TradersWay, Wayne McDonell who has over 10 years of experience and shares his market outlook. Topics include fundamental/technical analysis, market sentiment, support/resistance, trading strategies, QA and more. Previous webinars are available to watch on the TradersWay YouTube channel.
Traders Way Instruments
Traders Way offer 3 main markets, Forex, Precious Metals Energies. All markets can be traded on all platforms and accounts. You may want to check the trading hours for different trading instruments and take it into account when planning your trading activity.
The foreign exchange (forex) market is the biggest and the most liquid market in the world with an average daily trading volume of around $4 trillion. Currencies are exchanged for another at a specific rate with fluctuating global demand and supply determining the rates.
Traders Way offer 45+ major, minor and exotic FX currency pairs for trading on fixed or floating spread accounts. Minimum transaction value is 0.01 lots and leverage up to 1:1000 is available. The ECN accounts give direct access to interbank liquidity with spreads from 0 pips and competitive commission fees. The more volume you trade, the more you can negotiate a lower commission.
Often regarded as safe havens and used for diversifying a portfolio, gold and silver can be traded as CFDs (Contract for differences) without needing to own the physical underlying asset. Profit or loss is determined by the change in the value of the asset.
Constantly changing gas and oil prices make these popular instruments to trade. Traders Way offer CFD trading on crude light oil and natural gas.
Cryptocurrency is a decentralised digital currency based on complex mathematical algorithms. Cryptos based on Bitcoin can be traded on the Traders Way MT4 Crypto account.
Traders Way Accounts Fees
Traders Way have several account types available with different trading conditions. There are 5 accounts available with variable and fixed spreads, with or without commission, standard and ECN, and different platforms. There are no restrictions on trades for all account types. Islamic swap free accounts are available upon request. Demo accounts are also available if you wish to test the different trading platforms and conditions before opening a real account.
This is a standard MT4 account with fixed spreads starting from 2 pips and no commission charged. It was designed for traders who prefer to know the spread they will pay on each trading instrument. There is no minimum deposit required, minimum lot size is 0.01 and flexible leverage of up to 1:1000 on currency pairs. Maximum leverage on non-FX instruments is 1/2 of your leverage for metals and 1/8 of your leverage for other instruments.
This account type is similar to the standard but has variable spreads starting from 0.7 pips. This is more for traders who prefer real market conditions and want to step into an ECN/STP environment without paying any commission on trades.
This account offers true ECN trading with direct access to interbank liquidity on the MT4 platform. Spreads on this account are as tight as possible starting from just 0 pips. There is a very competitive commission charge of $3 with a minimum deposit requirement of $100. Minimum lot size is 0.01 and flexible leverage of up to 1:1000 on currency pairs. Maximum leverage on non-FX instruments is 1/2 of your leverage for metals and 1/8 of your leverage for other instruments.
This account provides the same conditions as the MT4 ECN account with the MT5 platform instead.
This is an ECN account for using the intuitive and convenient cTrader platform designed especially for ECN trading. The minimum deposit is slightly lower at $50 as is the leverage going up to 1:500 rather than 1:1000 as per the other accounts. Leverage is also lower on metals and energies.
As the name suggests, this account gives you access to trade cryptocurrencies with leverage and via the MT4 platform. Minimum lot size is 0.01 with 1:2 maximum leverage.
Traders Way have an Islamic account that complies with Sharia law and makes them a Muslim friendly broker. You can send a request to the broker if you require one.
You can open a Traders Way demo account which will enable you to practice trading online risk free with virtual funds. This can be a useful way to become familiar with the brokers trading platform whist developing your trading skills and knowledge. Once you are having consistent success on a demo account, you may feel confident enough to open a real live trading account.
As broker fees can vary and change, there may be additional fees that are not listed in this Trader’s Way review. It is imperative to ensure that you check and understand all of the latest information before you open a Trader’s Way broker account for online trading.
Traders Way Support
Customer support is provided via online chat, telephone and email. There is a US telephone number and they state that they aim to answer support requests within 24 hours on working days.
Traders Way Deposit Withdrawal
Traders Way provide clients with a variety of deposit and withdrawal methods, frequently introducing new payment options to improve the service. They offer bank transfers, credit cards, online payment processors such as Skrill Neteller, Cryptocurrencies (Bitcoin, Litecoin Ether) and more.
You can make a transaction by logging into your private client area, choosing your preferred payment option and following the instructions. Support can be reached if you have any questions regarding deposits or withdrawals.
Some fees may be charged when using certain payment methods. Bank transfers may take a few business days to clear whilst some methods such as card payments can be instant.
Accounts can be opened in USD, EUR, CAD, GBP. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.
Traders Way Account Opening
There is a short online form to complete in order to apply for a Traders Way account. Once done, you will need to verify your email and submit documents for KYC checks. These can be passport and utility bill scans for proof of identification and residential address. Once the accounts department have verified your account, you will be able to fund it and commence trading.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the broker’s terms, conditions, and policies. Only proceed if you fully understand and agree with them.
Traders Way FAQ
What is Traders Way minimum deposit?
Some Traders Way account types require a minimum deposit to open a live trading account, while others do not. The minimum deposit amount is dependent on the account type you want to open and how much you want to start trading with. For ECN accounts the minimum deposit is only $10:
- MT4 FIX Account: No minimum deposit
- MT4 VAR Account: No minimum deposit amount
- MT4 ECN Account: $10
- CT ECN Account: $50
- MT5 ECN Account: $10.
How do I deposit money into Traders Way?
There are various ways to deposit money into your Traders Way trading account, and they include bank transfers, credit cards, cryptocurrencies, and some online payment gateways, such as Neteller and Skrill.
To deposit into your trading account, you are required to log into your client area, choose the payment option that best suits you, and follow the prompts to complete your payment. Payments to/from 3rd parties are not accepted. You may use only your own funds for trading.
The broker accepts deposits in the following currencies: USD, EUR, CAD, and GBP. The time taken to process your deposits may vary depending on the payment method you use.
What are Traders Way deposit fees?
At Traders Way, all transactions requiring currency conversion by the broker attract a 1.5% fee, such as transferring funds from a USD to a GBP-denominated trading account. You can decide on your preferred currency when opening an account.
Depending on your bank or online payment processor used, you may incur a third-party payment processor fee.
How do I withdraw money from Traders Way?
To make a withdrawal, log in to your Private Office, navigate to the ‘Withdraw Funds’ tab and choose your preferred payment method from the available payment options — bank transfers, credit cards, cryptocurrencies, Neteller Skrill — and follow the instructions.
All deposits and withdrawals must be made from/to financial accounts that exactly match the name on your trading account. For all withdrawals that are up to the total amount that was initially deposited, you must use the same payment option as you used to make the deposits. The remaining balance can be withdrawn using any payment method.
Withdrawal requests are processed within 48 hours on business days.
What are Traders Way withdrawal fees?
Just as making deposits, a fee of 1.5% is charged on all withdrawals that require currency conversions.
Clients who make a withdrawal without trading may be charged all fees originally covered by Traders Way during their initial deposit(s). The cost of the fees is determined by the payment system used.
What is Traders Ways commission fee?
The commission fee at Traders Way is dependent on the account type you are trading with. Some accounts are commission-free and have the commission included within the spread, while others have a commission fee attached to them as follows:
- MT4 FIX Account: No commission
- MT4 VAR Account: No commission
- MT4 ECN Account: $3 per buy/sell
- CT ECN Account: $3 per buy/sell
- MT5 ECN Account: $3 per buy/sell
Generally speaking, the accounts that have no commission will tend to have higher spreads than those which do charge a small commission. The account type that you opt for may depend on your trading strategy and if it is reliant on tight spreads.
If you are a day trader using a scalping trading system and taking many positions on a frequent basis, then tight spreads may be important. On the other hand, if you are a swing trader who holds positions for at least a few days, the spreads may not be as important to your overall trading strategy.
Traders Way offers an unprecedented rebate for ECN trading, refunding clients a part of the commission depending on the turnover made over the course of one month.
Are there any Traders Way inactivity fees?
Traders Way does not charge an inactivity fee. Some brokers will start to deduct funds if you do not access or use your trading account for a sustained period of time.
What are Traders Way account types?
Traders Way offers the following trading account options: MT4 FIX, MT4 VAR, MT4 ECN, CT ECN, and MT5 ECN Accounts. The multiple live trading account options allow traders to easily choose the account type that best suits their trading objectives and needs.
In many ways these accounts have similar conditions and the choice of account is a matter of personal preference. The main difference is between the type of spread and if there is a commission charge.
You just need to determine for yourself whether you need to know spreads beforehand for your strategy for convenience or whether you prefer conditions closer to the real market where spreads change according to the prevailing situation.
Traders Way offers direct access to the interbank market for a small commission – ECN trading through the MT4 (MT4.ECN.), MT5 (MT5.ECN.), and the cTrader (CT.ECN.) platforms. Spreads are the lowest possible and can even go down to zero under proper market conditions.
Is there a Traders Way demo account?
Yes, a free demo account is available at Traders Way to help clients acquaint themselves with the broker’s platforms before opening a live trading account. The demo account option is available on all the live trading account options.
The demo account is a trading account that works with virtual money. You cannot deposit or withdraw funds from the account. When you open a Traders Way demo account, you will find $100,000 worth of virtual funds. You can choose to test any account type and trading platform which can help you to make your final selection with confidence, taking into consideration the results of your demo trading.
It is important to keep in mind that whilst demo accounts are very similar in certain aspects to real accounts, they do not take into account the emotions that can be involved when trading with real money.
What are Traders Way spreads?
If you are looking to trade with Traders Way, then you will need to pay the spread. The spread is the difference between the bid (buy) and ask (sell) prices of a certain asset. Spreads are a common way in which trading platforms charge fees.
Traders Way offers tight spreads starting from 0.0 pips on the ECN accounts. However, the MT4 FIX and MT4 VAR accounts have a minimum spread of 2 pips and 0.7 pips, respectively.
What is Traders Way leverage?
The maximum leverage available at Traders Way is 1:1000. Leverage allows you to open a position size larger than you would be able to without it. Whilst this can increase profit potential, it can also significantly increase risk. It is important to make sure you have a clear understanding of what leveraged trading is and the risks involved.
For example, if you have $10,000 in your account, and you open a $100,000 position (which is the equivalent to one standard lot), you will be trading with 10 times leverage on your account (100,000/10,000). If you trade two standard lots, which are worth $200,000 in face value with $10,000 in your account, then your leverage on the account is 20 times (200,000/10,000).
What are Traders Way margin stop-out levels?
The margin at Traders Way is 0.1% of the volume of the opened positions, while the stop-out level is 40%. Your positions will be closed when the equity falls below the stop-out level.
Do Traders Way allow hedging, scalping expert advisors?
Yes, Traders Way permits the use of automatic trading with expert advisors (EAs). The broker also allows hedging and scalping strategies.
Is there a Traders Way Islamic account?
Yes, Traders Way offers Islamic Accounts on the MT4 FIX and MT4 VAR accounts. Islamic accounts comply with the Sharia law and have no swap rates or rollover costs on overnight positions.
What are Traders Way trading instruments?
Traders Way offer multiple trading instruments across different asset classes, such as Forex, Metals, Energies, and Cryptocurrencies.
How do I open a Traders Way live account?
You can open a Traders Way live account by completing a short and secure application form on the broker’s website, which is accessible by clicking the “Open Live Account” button on the homepage of the broker’s website. Once you have completed the application form, you will need to click the “open account now” button on the bottom page of the form to submit.
How do I verify my Traders Way account?
In order to fund your account and start trading, you will need to complete the Traders Way verification process. To verify your account, you need to provide two documents:
- Personal ID — a copy of your Passport or your national ID card or Driver’s license (with your photo). And it must not be expired.
- Proof of your address — any bill with your name and address, such as your utility bill (gas, water, electricity, fixed phone, etc.) or bank statement. It should not be older than six months.
In addition to the above documents, corporate clients must also upload the following:
- Articles of incorporation Register of directors for the company.
- Signed copy of the Corporate Entity Agreement provided during the verification process. You should ensure the documents are available in any of the following formats: gif, jpg, png, and pdf.
What is the Traders Way trading platform?
Traders Way provides traders with the following trading platforms free of charge: MT4, MT5 and CTrader trading platforms. These trading platforms are available in desktop versions for Windows and Mac computers; a web-based version (WebTrader) that can run directly on Chrome, Safari, Edge, or Firefox; and a mobile app for Android and iOS devices.
Keep in mind that the desktop version has a more robust functionality, providing users with automated trading via expert advisers and additional powerful analysis tools.
Where can I download the Traders Way platform?
The WebTrader platform can be accessed directly from the broker’s website via any modern web browser. The desktop applications for Windows and Mac computers can be downloaded from the broker’s website, whereas the mobile apps can be downloaded from the Google and Apple stores, which can also be accessed from the broker’s website.
Where is Traders Way located?
Traders Way is based in the Republic of Dominica.
Is Traders Way regulated?
No, there is no regulatory information on the broker’s website at the moment. However, Traders Way implements strict internal policies and procedures to ensure they maintain high business standards. Strict AML KYC policies are in place to combat money laundering and inappropriate usage of funds.
The lack of regulation could discourage prospects from trading with the broker but does mean that they are able to offer certain services that a regulated broker cannot.
What countries do Traders Way accept?
Although Traders Way welcome traders from different parts of the globe, the brokerage services are not directed toward soliciting citizens or residents of any jurisdiction that would be contrary to local law or regulation.
Is Traders Way a scam?
No, Traders Way is not a scam. They are an established brokerage that offers very competitive trading conditions to a global clientele.
How can I contact Traders Way support?
You can contact the Traders Way client support team via the following contact channels: online chat, telephone, and email. The support team is available 24/5 to respond to general, technical, and account-based inquiries.
Traders Way Summary
Traders Way provide competitive online trading conditions including powerful trading platforms, multiple trading account types, various funding options, flexible leverage, educational materials, trading tools and a responsive customer support team.