{"id":167,"date":"2021-12-21T09:24:00","date_gmt":"2021-12-21T09:24:00","guid":{"rendered":"https:\/\/www.brokerey.com\/?p=167"},"modified":"2021-12-22T10:28:12","modified_gmt":"2021-12-22T10:28:12","slug":"traders-way-review","status":"publish","type":"post","link":"https:\/\/www.brokerey.com\/es\/traders-way-review\/","title":{"rendered":"Trader\u2019s Way Review"},"content":{"rendered":"

There are a number of brokers in the market promising to offer excellent services, great trading software, and an easy facility for deposit and withdrawal of funds. Though, all of them claim to be licensed or regulated, it often happens that such claims only prove to be false in the future when financial frauds or crimes are noticed therefore it becomes imperative for the traders\/investors to ensure that the brokers where they are opening their accounts are registered and regulated under the stipulated regulatory authorities. In this article, we shall have one such broker Trader\u2019s Way review to analyze how far the broker activities can be trusted and relied upon for doing trading activities by opening an account under it.<\/p>\n\n\n\n

What is Trader\u2019s Way?<\/h2>\n\n\n\n

Trader\u2019s Way is a forex broking company founded in 2011 with headquarters in Dominica which provides traders across the globe with trading software to trade in various financial markets. It offers trading in different markets such as currencies, stock, metals, energies, or metals via its Meta Trader 4 (MT 4) and Meta Trader (MT 5) trading platforms and provides leverage which can be as high as 1:1000.<\/p>\n\n\n\n

Is Trader\u2019s Way regulated under any authority?<\/h2>\n\n\n\n

There are authorities in various countries who regulate the conduct of the financial services firms like the Financial Conduct Authority in the UK and the National Futures Association (NFA) in the USA which safeguards the derivative market participants including forex. Similarly, St. Vincent and the Grenadines Financial services authority (SVG FSA) was established seven years ago to regulate entities in financial sectors, but the peculiarity lies in the fact that the regulation of forex broker business, binary options, and CFDs do not find a place under the regulations of SVG FSA.<\/p>\n\n\n\n

The SVG FSA through their \u201cAlert 2 of 2018- Foreign Exchange (FOREX) Trading and Cryptocurrency offerings\u201d stated that they are no regulations in place in St. Vincent and Grenadines for Forex Trading and Cryptocurrency offerings.<\/p>\n\n\n\n

The official warning by SVG FSA states \u201cThere are financial institutions out there that falsely claim they are registered or licensed in our jurisdiction. Their purpose for doing this is more than likely for illicit reasons and potential customers should be very cautious about conducting business with them\u201d<\/em> which clearly indicates that neither regulation nor licensing of forex business is the responsibility of SVG FSA.<\/p>\n\n\n\n

Since the statement of SVG FSA clearly states that regulation of forex business is outside its purview, hence it becomes clear that Trader\u2019s Way is not regulated under any jurisdictional authority. Further, it does not even hold a license from any global forex authority, so the broker Trader\u2019s way review becomes indispensable for the traders before engaging with them for opening their trading account.<\/p>\n\n\n\n

Safety and security while trading in Trade\u2019s Way.<\/h2>\n\n\n\n

The safety and security of funds of the investors should be of utmost priority by the brokers and it happens that most brokers fail in their compliances and therefore the regulated authorities intervene to protect and safeguard the interests of the investors.<\/p>\n\n\n\n

Trader\u2019s Way through the advertisement on its website attempts to ensure its investors that how its strong internal policies mechanism, IT infrastructure, and risk management policy aims to protect the investors\u2019 funds but what happens if Trader\u2019s Way itself becomes hostile towards the investors. In the absence of any regulatory authority, any disputes between the broker and the investor will leave the investor in jeopardize. Thus, it can be said that Trader\u2019s Way is not a safe broker, and the investors can be exposed to high risk.<\/p>\n\n\n\n

Is Trader\u2019s Way legit?<\/h2>\n\n\n\n

Trader\u2019s Way is an offshore entity and does not fall under the purview of the regulatory St. Vincent and the Grenadines Financial services authority; hence it cannot be trusted and relied upon thus making the legitimacy of the broker, a questionable matter. The traders should always avoid unregulated and offshore entities.<\/p>\n\n\n\n

There are various regulations that the registered forex brokers need to comply with the regulatory authority of their respective countries such as the FCA in the UK, ASIC in Australia, and CySEC in Cyprus such as: -<\/p>\n\n\n\n

  • The forex brokers are required to keep the investor\u2019s investments in segregated accounts and separate them from their own financial assets to ensure that the investor\u2019s money is safe and secure.<\/li>
  • The regulators want the brokers to give early warnings to their clients regarding forex trading by stating that it involves a high level of risk to make the clients aware and keep them on alert.<\/li>
  • The regulated forex brokers are watched by the regulators to ensure that they remain solvent and capable enough to pay their own debts without tampering with the investors\u2019 money.<\/li>
  • The regulatory authority ensures that the forex brokers submit regular periodic reports of their operations and be audited from time to time to verify that the desired and stipulated capital adequacy ratio is intact.<\/li>
  • The forex business is subject to a very high level of risk, and it is the regulator who caps the limit of the leverage which can be provided by the brokers as high leverage often results in erosion of the client\u2019s capital during volatile markets and often leads to margin calls by the brokers which put the client on the back seat.<\/li><\/ul>\n\n\n\n

    The regulated brokers are often subject to enormous regulations to ensure that the client\u2019s money is protected and safe whereas the non-regulated brokers can very well misuse the funds of the clients as there is no regulatory authority to watch and monitor their actions. The broker Trader\u2019s way review does not reveal a good picture and hence, it can be stated that it is not the right choice for the traders.<\/p>\n\n\n\n

    Leverage<\/h2>\n\n\n\n

    Leverages are provided by various brokers to attract customers to their trading platforms. Trader\u2019s Way offers leverage based on the account balances of its customers in a tiered manner as listed below: -<\/p>\n\n\n\n

    Balance Amount<\/strong><\/td>Leverage offered<\/strong><\/td><\/tr>
     < $5,000<\/strong><\/td>1:1000<\/td><\/tr>
     $5,000-50,000<\/strong><\/td>1:500<\/td><\/tr>
     $50,000-60,000<\/strong><\/td>1:400<\/td><\/tr>
     $60,000-70,000<\/strong><\/td>1:300<\/td><\/tr>
     $70,000-80,000<\/strong><\/td>1:200<\/td><\/tr>
     $80,000-100,000<\/strong><\/td>1:150<\/td><\/tr>
     > $100,000<\/strong><\/td>1:100<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

    Further, the maximum leverage provided for energies is one-eighth of the trader\u2019s balance, for metals half the balance and for cryptocurrencies, the leverage provided is one-fifth.<\/p>\n\n\n\n

    Deposit and withdrawal facilities<\/h2>\n\n\n\n

    The Trader\u2019s Way minimum deposit requirement for opening an account is different for different types of accounts such as MT4 FIX and MT4 VAR account does not have any minimum requirement whereas the minimum requirement for MT4 ECN A\/c, CT ECN A\/c, and MT5 ECN A\/c is $10, $50, and $10, respectively. The deposit fees charged by it depend upon the mode of payment that the trader chooses. The withdrawal fees vary upon the selected mode of payment and such withdrawals take 48 business hours.<\/p>\n\n\n\n

    TC Pay, Credit\/Debit cards via VLoad, bank transfers via Abra, cryptocurrencies such as Bitcoin, Ether, Litecoin, Tether, TrueUSD, and other modes such as Skrill, NETELLER, Perfect Money, and FasaPay are provided by Trader\u2019s Way to accepts deposits and withdrawals.<\/p>\n\n\n\n

    Trader\u2019s Way trading platforms<\/h2>\n\n\n\n

    It provides different trading platforms for its users such as Meta Trader 4 and Meta Trader 5 with the availability of standard and electronic communication networks (ECN). The traders can also use its QuickDeal tool for one-click trading in MT4 and MT5 trading platforms as it transforms the standard MT into a fully advanced featured STP\/ECN trading platform. The other trading platform which the users can use is cTrader where they can experience full-featured ECN trading. It has partnered with MetaQuotes and FxStat where trades from the selected providers are copied to the trader\u2019s accounts. The other platforms such as Meta Trader Web Terminal, MT Mobile Apps, and Meta Trader for Mac OS are also provided by Trader\u2019s way to ensure that the clients can manage their real-time trading from various available resources available at their convenience.<\/p>\n\n\n\n

    Different Account Types<\/h2>\n\n\n\n

    There are different account types provided by the broker Trader\u2019s way with or without commission such as: -<\/p>\n\n\n\n

    • MT4.VAR. which is designed for CFD and forex trading with floating spreads on the MT 4 platform.<\/li>
    • MT4. ECN. designed with access to interbank liquidity on the MT 4 platform for ECN trading.<\/li>
    • MT5.ECN., often referred to as the next generational trading platform offers the traders to trade in a wide range of markets from Forex, CFD, Futures to Cryptocurrencies.<\/li>
    • CT.ECN. enables manual and automated Algo trading in its CTrader trading platform specially designed for ECN trading.<\/li><\/ul>\n\n\n\n

      Pros for using Trader\u2019s Way.<\/h2>\n\n\n\n
      • Offering high leverages as per the traders\u2019 account balances.<\/li>
      • Providing low minimum deposit requirements.<\/li>
      • Providing various trading platforms such as MT 4, MT 5, cTrader, etc.<\/li><\/ul>\n\n\n\n

        Advantages for using Trader\u2019s Way Platform<\/h2>\n\n\n\n

        Trader\u2019s Way has been offering a wide variety of benefits for its traders ranging from keeping the low deposit requirements to offering high leverages. Besides that, its various trading platforms such as MT 4 & MT 5 offers featured trading facility to its traders. The deposit and withdrawal facilities through various modes such as TC Pay, bank transfers, Skrill, Perfect Money, etc. also make it the preferred broker for the traders. But the traders using this platform should remember its non-regulated status in order to ensure their own safety.<\/p>\n\n\n\n