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Regulated: Regulated by CySEC
Min Deposit: $1
US Clients:
Bonus: 100% First Deposit Bonus!
Leverage: 1000:1
Free Demo Account:
Trading Platform: MT4, MT4 Mobile, MT4 ECN, cTrader ECN
Payment METHOD NAME Charge Time

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Full Review

About TradersWay

TradersWay (CY) LTD (registration number HE 293057) is a company with headquarters located in Cyprus. It also has a presence in St. Vincent and Grenadines and Russia. TradersWay (CY) LTD operates the TradersWay forex brand and is authorized and regulated by CySEC (Cyprus Securities and Exchange Commission), with license number 178/12.

 

Special Offers and Bonuses

Traders who use TradersWay as their forex brokers can expect to receive two bonuses:

–       A 100% new account deposit bonus.

–       An opportunity to try out the ECN MT4 platform for just $10.

 

Types of Trading Accounts

What account types are available on TradersWay? Five account types are available and these are as follows:

a)    MT4.Micro: This is the basic account type for beginners; the micro account. This account can be used to test new strategies, restore confidence after a run of bad trades and comes with a minimum transaction volume of only 0.1 of a Micro lot (i.e. 0.001 lots or nano lots). Minimum deposit is $1, with a leverage of 1000:1.

b)    MT4.FIX: This account type is the standard account for the MT4. Minimum deposit is $1, trade size of 0.01 lots and maximum leverage is set at 1000:1.

c)     MT4.VAR: This account type combines features of an ECN account such as zero commissions and floating spreads, with the features of the MT4. Minimum deposit and leverage is set at $1 and 2000:1 respectively. Minimum trade size is set at 0.01 lots.

d)    MT4.ECN: This is a bridged MT4 account, and is the account used for the MT4 ECN $10 promo. Minimum trade size is 0.01 lots, with account deposit minimum of $100. Leverage is set at 1000:1.

e)    CTrader ECN: Full scale ECN account with minimum trade size of 0.01 lots and minimum deposit of $100, with leverage set at 500:1.

f)     FxSTAT Autotrading Account: This is used for passively following traders and having their strategies automatically. This account is opened through an introducing broker and so attracts an extra 1 pip to cover this service.

These accounts can be traded with expert advisors, and hedging strategies and EAs are allowed.

 

Trading Platform Features

TradersWay traders can choose to trade on any of these platforms:

a)    MetaTrader4: TradersWay offers its clients the chance to trade forex on the enhanced MetaTrader 4 terminal. There is also a web-based version of the MT4, as well as mobile versions of the MT4 for the Android, iPhone and iPad devices.

b)    TradersWay cTrader: This is the ECN platform that traders on TradersWay can use for non-dealing desk trading. There is a downloadable version, a web-based version and a mobile version of the cTrader platform. This also goes ahead with cAlgo, the algorithmic trading platform used for coding EAs for cTrader.

c)     MAM: This stands for the Multi-Account Management platform, which is a multi-terminal for account managers who are participating in the PAMM program, as well as those who are trading multiple accounts.

d)    Tradeo Social Trading Platform: This is a cross-broker, cross-platform social trading network that connects traders and brokers worldwide.

e)    FxSTAT Autotrading platform: FxStat is an innovative account monitoring, social networking and autotrading (copy trading) service.

 

Commissions and Spreads

The commissions and spreads obtainable on TradersWay are spelt out below.

Instrument Spread Ask
EUR/USD 1.34413 1.34415
GBP/USD 1.69924 1.69929
USD/CHF 0.90366 0.90371
USD/JPY 101.801 101.805
EUR/GBP 0.79098 0.79104
EUR/JPY 136.833 136.838
USD/CAD 1.0802 1.08026
AUD/CAD 1.01596 1.01606
GBP/JPY 172.985 172.995
AUD/NZD 1.09973 1.0999
Gold 1303.8 1304.19
Silver 20.592 20.619
Crude Oil 101.24 101.34
Dow Jones 16917 16918
NASDAQ 3951.7 3953.7
CAC 40 4340.8 4341.8
FTSE 100 6782.8 6783.8
US SPX 500 1971.7 1972.1

Charting Packages

Charts on TradersWay are available on the respective platforms.

 

Education and Demo Accounts

TradersWay provides traders with an unlimited and free demo account, but not much comes the way of forex education.

 

Customer Service

TradersWay customer support is available using the following means of communication:

–       Physical Address

8 Copthall, Roseau Valley, 00152 Dominica

–  Phone: +7 812 4548 812

– Email: Customer Service: [email protected]

Technical Support: [email protected]

–       Live chat support service

 

Deposits and Withdrawals

Deposits can be made on TradersWay as follows:

a)    Bank Wires: This is a convenient option for making deposits and withdrawals using VISA or MasterCard.

b)    Electronic payments can also be made using Skrill (Moneybookers), Ukash, Payweb, Neteller, Payza, CashU and Perfect Money.

c)     Local Transfer: This is the use of local banks for depositing and withdrawing funds, and is available to Indonesian traders only.

 

Deposit Limits

The minimum deposit requirement differs from one method of transaction to another, and from one account type to the other. Generally speaking, the minimum account deposit size is $1, which can be deposited using the e-payment methods. For accounts that require at least $100 as account deposit minimum, the use of bank transfers which demand more money to be sent to at least cover the account deposit fee of $45 will have to be deployed.

The minimum amount of a deposit made with a credit card is $10, with a maximum set at $1000. Only a maximum of 3 deposits per day / 10 per month / $5,000 per month can be made with a card deposit. Moneybookers comes with a maximum deposit limit of $10,000 and a minimum of $10. CashU and Webmoney have no limitations.

There are generally no maximum deposit limits except for card methods which have a specified deposit limit that is given to traders when they open accounts. So deposits limits should be looked at in the context of what transaction method will be used.

 

Withdrawal Limits

Card withdrawals must be made to the full amount that was deposited using the card method, else a 180-day waiting period will be applied. Transaction fees do not apply for e-payment methods.

 

Conclusion

TradersWay caters for all types of traders with their multiple account types, trading platforms and trade conditions. However, a lot more educational content needs to be put up to cater to new traders.