Trader’s Way offers several trading platform options, five account types to choose from, and four markets to trade. It also features an attractive set of trading conditions and special promotions for its users.
Trader’s Way takes pride in giving its clients transparent prices, low spreads and commissions, high leverage and low margin, and free demo access. However, the firm is unregulated and has limited non-FX trading instruments.
All these and more as you read your way to Trader’s Way.
Trader’s Way Background and Safety
Upon research, this firm provides minimal information about its background and brokerage service history. Some sources, however, said the firm was established in 2010 and is headquartered in Dominica.
With the initiative and collaboration of a group of financial market professionals, Trader’s Way came to existence with a primary aim of providing free and limitless trading on a global scale. The MetaTrader 4 and MetaTrader 5 platforms are its main trading platform arsenal to trade currencies, stocks, energies, metal, or commodities.
Although Trader’s Way claims its trading services as transparent, secure, and reliable, it remains unregulated by any governing regulatory body. Considering that it has no regulatory certification, the risk for the client’s safety of fund is high.
Trader’s Way Features and Fees
Market Offerings
Trader’s Way gives its traders access to the following markets:
- Forex
- Metals (Gold and Silver
- Energies (Oil and Gas)
- Cryptocurrencies
Account Types
Below is a list of Trader’s Way’s account types and their respective features.
These account types differ in the trading platform that they are available to. Trader’s Way offers the MT4, MT5, and the cTrader. The account types also differ in spreads as users are allowed to choose either the fixed type or the floating type. Aside from that, the account types also differ on the market access users are led to and commission fees.
The MT4.FIX, MT4.VAR, MT4 ECN, MT5.ECN, and CT.ECN are all uniquely designed according to the trader’s platform, spread, and commission preferences.
Some of the useful trading features in Trader’s Way’s account types include hedging, overnight interest rates, trailing stops, pending orders, one-click trading, mobile and automatic trading.
Trading Fees
Using the MT4.FIX and MT4.VAR platforms, traders will not have to worry for commission fees as these accounts have zero commission charges. For the other three accounts, every $100, 000 turnover has a commission amounting to $3. Swap fees are also charged for positions held overnight depending on the asset.
Deposit & Withdrawal
The accounts linked to the MT4 platform (MIX and VAR) have no minimum deposit amount. However, you still would have to fund your account to start trading. The good news is there is no threshold amount to deposit to avail these account types.
Meanwhile, the MT4 and MT5 ECN accounts require account users to deposit a minimum of $100. The CT ECN account needs to be funded with at least $50.
Moreover, Trader’s Way provides an array of deposit methods for traders with majority of them are free of deposit charge.
Here’s the list of deposit options under Trader’s Way:
- Credit Card/Debit Card
- Wire Transfer
- Bank Transfer
- Skrill
- UPay Card
- Crypto coins (Bitcoin, Ethereum, Litecoin, Ripple)
- Neteller
Among these payment options, Skrill and Neteller are the ones with deposit fee. The same methods are applicable to withdrawal transactions. Note, however, that most of these options carry withdrawal fees except Wire Transfer, Bank Transfer, and Crypto coins.
Trading Platforms and Tools
Trader’s Way mobilizes the popular MetaTrader in MT4 and MT5 plus its own developed platform offering called cTrader that specializes in ECN trading.
MT4
The most popular trading platform, MT4 is part of the offerings of Trader’s Way for its clients. The site’s MT4 version has 50 built-in indicator tools and has multiple order types. It also comes with a MetaEditor for customizing the indicators and trading strategies users prefer. Trader’s Way’s MT4 platform is available on desktop (both Windows and Mac OS), web, and mobile devices (Android and iOS).
MT5
The broker’s MT5 platform is much similar to its MT4 version except for some features and advanced tools. The MT5 has more execution and order types, 21 timeframes, and more than 80 indicator tools. The MT5 is also available on desktop, web, and mobile devices.
cTrader
This platform is specially designed to execute ECN trading. This trading platform is advantageous for big-time traders as it enables millisecond execution and higher level of pricing. With this platform, traders get limitless trading possibilities as they are directed to global banks and other big financial institutions without a broker’s mediation.
Special Tools
Trader’s Way has unique trading tools for its users:
- QuickDeal Tool – an add-on tool for MT4 and MT5 platforms to enable one-click trading and level 2 pricing.
- cMirror – this app gives the user the chance to copy trades of other signal providers.
- VPS Hosting Service – Virtual Private servers (VPS) are offered to users to operate the trading platform even when the device is off.
Bottom Line
Trader’s Way is fit for gutsy traders who would want to try a powerful trading platform (cTrader) with low trading capital. If you are concerned about the legality of a broker, Trader’s Way may not be for you as it has yet to be certified by financial regulatory institutions.