A Forex Broker is a firm that provides foreign exchange trading services to traders. Such a firm enables the Forex traders to have an access to trading platforms so that they can sell or buy foreign currencies. There are many such firms, some have been operating for some time, are well established and reputable, while some are not. Our review gives you an insight into foreign exchange trading with Tradersway Forex Broker firm.
Tradersway Forex Broker Company was founded in 2010. It has its Head Office in Cyprus. It has expanded its operations to St. Vincent, Grenadines and Russia. It is authorized to operate under the Cyprus Securities & Exchange Commission, a Cyprus regulatory body which gave it license no. 178/12. The firm deals with a wide range of CFDs and currency pairs and uses the MT4 and cTrader platforms mainly.
The firm was established by a grouping of professionals proficient in the financial market field with an aim of spreading the values of a free and unlimited global trading. The clients are offered some of the widest trading opportunities available on the free financial markets. The company has always claimed to possess some of the best Trading platforms in the market.
Tradersway is well ahead on the platforms it offers its clients to carry on trading such as:
MetaTrader 4– One of the most effective and efficient trading platform in the world. However, the firm has become innovative to supplement the good qualities of the platform with an adoption of the NDD/STP model. This is to address the inability of the platform to be connected to the interbank- market directly. By adopting the NDD/STP model they have made an addition of the ECN trading feature to the MT4 platform.
MT4 Mobile Applications-The firm has introduced MT4 mobile applications that are very invaluable to people on the go. By installing the application to any of your compatible devices you will be able to access all the trading markets. It is convenient as the same account you use on your desktop pc is the same you use on the smartphones.
cTrader– The platform offers the firm’s clients the added advantage of experiencing the full power of ECN trading. Using this platform offers the clients some of the advantages enjoyed by some major institutions such as very fast speeds with affordable pricing. The benefits of the platform can be enjoyed using any computer having an internet browser that uses a cTrader web.
Social and auto trading– The firm has partnered with MetaQuotes, Mtfxbook and FxStat to offer clients some of their high performing and state of the art platforms, technologies, products and services to offer customer satisfaction.
Tradersway Forex Brokers offers a wide range of accounts to choose from depending on the client’s level of investment, taste, strategy, and need. Some of these accounts are:
MT4.Fix– This is a Forex and CFD account that features fixed spreads on the MT4 platform. The account was mainly designed for those traders who would like to know exact spread sizes on individual trading instruments. This is for strategic planning and for automatic trading.
MT4.VAR– The account is used for CFD and Forex trading where you have floating spreads on the MT4 platform. It is for those traders who would prefer to trade in real market conditions. That way they take advantage of the professional ECN/STP Trading but avoid the commissions.
MT4.ECN. – With this account, the client is able to access directly the interbank liquidity available on the MT4 platform. The spreads here are at a minimum and quite low for some market conditions.
CT.ECN.- The account is offered as an ECN account in cTrader. It is a convenient and intuitive platform that is mainly designed for ECN trading.
In order to give their clients unlimited opportunities to do trading, the firm has gone the extra step of making the customer access various markets. These markets include:
Forex– The foreign-exchange market is one of the biggest offer and one of the most liquid markets all over the globe. It is estimated to have a trading volume of up to $4 trillion.
Metals-Gold and Silver- The metal market is gaining popularity with many investors putting more preference over its certainty more than the paper money. The firm offers to trade in metals against the major currencies like dollars and euros.
Energies-Oil and Gas– This is another lucrative market that is attracting a lot of attention from clients all over the globe. It is part of the commodity market that deals in the supply of energy.
Towards improving the way the firm’s clients withdraw or deposit funds with more convenience, several payments methods are offered. On login, the online application of Tradersway gives you many options to do your transactions such as:
- To withdraw all deposited funds you have to use the same option used for deposit
- All payments from and to third parties are not acceptable for any trading purposes.
- All request to withdraw will be processed within 48 hours
- All deposits and withdrawals are accepted using payment systems such as perfect money, UpayCard, Payza, ePayments, Bitcoin, wire transfer, Webmoney and Neteller
At Tradersway Forex Brokers, your starting trading amount is $10. Then you can open your MT4 ECN account which will have a full access to the interbank market. The firm works towards scaling up your trading opportunities by providing you a 100% bonus on the deposit in your account.
PROS AND CONS OF USING TRADERSWAY FOREX BROKERS
- There is a wide range of trade platforms to choose from such as MetaTrader 4 and eTrader
- There is no minimum-initial deposit to enjoy commission-free accounts
- You can access the ECN environment at only $10
- Offers better and competitive ECN spreads and low commission fees than the competition
- Gives the client a higher leverage
- Bonuses are available
- Lack of regulation
Tradersway main mission is to widen the clients trading opportunities by boosting you with maximum bonuses on deposits you make. Many will term this as a wild way to attract new customers to your firm. But this so far has worked well for the company which has continued to grow in strength.
The company is not regulated and does not follow strict guidelines. It takes aggressive moves to satisfy its customers and it has worked well for them. After going through several users reviews you will find that most of them are satisfied and have given it a high grading.
Expert opinions will agree with my view that the issue of client’s fund’s security should not be taken lightly. The company has not taken any efforts to ensure proper measures are in place. In case of a worst-case scenario, the firm’s clients can incur a lot of losses.