Tradersway-How great of a Forex trading site is it??

Now is the era of globalization, even the introduction of online trading has made things much easier and accessible to all. ‘Foreign exchange (in short Forex)’ is one of the popular terms to the people who are involved in some kind of business. ‘Forex’ refers to a marketplace where the currencies of different countries are traded. In fact, this is considered as the most liquid marketplace. Tradersway is one of the most popular names in that marketplace and everyone can get an easy access to it simply by browsing its website-tradersway.com .

Overview of Tradersway

Tradersway or ‘TW Corporation’ started its journey around 10 years back from now as a ‘Forex broker organization’, with an aim to help the traders by simplifying the money exchange procedures. It’s located in the middle of ‘Dominica Island’ of the Caribbean-Sea. To be more precise, it’s at the middle of three French islands, Martinique to the south and Marie-Galante & Guadeloupe to the north.

A few privileges offered by ‘tradersway.com ’ which made it quite popular among the traders. Topnotch customer service, covering up a massive trading market, wider opportunities to trade, account usability with low deposit and low spreads are some of the notable reasons for its rapid success in the marketplace. In addition, Tradersway also uses some of the most popular technical platforms like ECN, MT4, and CTrader.

Is Tradersway a scam?

It would be unwise to say that ‘tradersway.com ’ is a 100% safe platform to trade currencies. Because this organization is yet to receive a license from any of the reputable Forex authorities. It clearly means that this organization was never monitored in terms of the safety in offers to its clients. However, Tradersway meets the compliance requirement, financial regulations, and guidelines set by the Dominica government.

How to complete the registration and authorization processes at Tradersway?

Like all the other Forex sites, a trader must have to complete the registration process to get access to this platform. The total process can be subdivided into three steps:

1. Sign-up and Login: First, the trader will have to visit the site “https://www.tradersway.com /#modal-acc”. In that page, the trader must have to put a few information e.g. first & last name, email id, account type- personal/corporate, date of birth, cell number etc. After that, the user will be asked to choose one between “live account” and “demo account”.

Both of these two account types offer multiple platforms like ‘mt4.var’, ‘mt4, and fix ’, ‘mt4.ecn’, and ‘mt5.ecn’. But the user has to pick only one from the available options with a preferable currency at the bottom. Once the sign-up process is completed, a user can get easy access to ‘tradersway.com ’.

2. Verification: Before a trader can put some money into his/her “live account”, verification is a mandatory step. However, at the ‘tradersway.com’, verification process is now simpler than ever. The user has to upload a couple of documents like- passport/national ID/driver’s license (has a photo in it), and a phone/electricity bill (with address) paid within last 3 months from the date of verification. After the user submits his/her documents, tradersway authority might take up to 72 hours to verify them. Once the account is verified, the user will be notified by an email.
3. Deleting the account: By highlighting any unsatisfactory reason, it’s possible to deactivate or delete a tradersway account.

Tradersway demo account

For a fresher, starting with a demo account is always recommended. Because it takes a while learn the basics of online trading strategies. After using it for a couple of days or weeks, a newbie can grow a sense about how the trading marketplace is going to fluctuate with time. As a result, it gets easier for him to predict the trend and avoid the risk of losing when he starts investing his real money.

As mentioned in the earlier section, opening a tradersway demo account is quite simple. The user has to choose the account type, with which he wants to practice. At present, there are four account types available for the demo version. Two types of ECN accounts, floating spread account, and a fixed spread account. All these accounts are available on the CTrader and MT4 platform.

How to deposit money at Tradersway

Tradersway is one of those Forex platforms which allows its clients to deposit money using different sources. The sources are- Credit/Debit card (via VLoad), Wire-transfer, Bank-transfer (Abra), Ether, Bitcoin, Litecoin, Ripple, Skrill, Neteller, Perfectmoney, Fasapay etc. Nevertheless, the minimum deposit amount should be $10 or equivalent in other currencies.

Commission fee and other charges

The commission fee at ‘tradersway.com ’ is fixed and it is $3.00 for each ‘traded lot’. That it, for every 100,000 units traded, the trader will be charged $3.00. However, there are some other non-trading fees which a trader must have to keep in mind. For any wire-transfer, the user won’t be charged any extra amount other than the amount imposed by the bank. But in case of Debit/Credit card transfer, Tradersway will charge at a rate of 3.9% on the deposited amount and around 5% on the withdrawal amount.

Tradersway bonus

One of the reasons why ‘tradersway.com ’ has caught thousands of traders is because of its 100% bonus on deposit. However, there are some eligibility criteria to be qualified for receiving the bonus amount.

1. User of ‘MT4.FIX, MT4.VAR, and MT4.ECN’ will only be qualified to receive the bonus upon the deposition of money.
2. Bonus will be credited to users’ account at the end of each day which cannot be withdrawn. The bonus amount will be cancelled in case of any withdrawal.
3. Tradersway bonus cannot be used for news-trading purposes.

Tradersway leverage

Tradersway leverage will allow its users to trade a large volume of contracts or shares with the investment of a very little amount of capital. But the higher the leverage, the lower will be the margin.

Let’s consider a trader sets up a leverage ratio of 1:1000. If he/she opens a position for $10,000 at a rate 1.50, the margin will be = {$10,000.00 x (1.50/100)} or, $15.00

Fixed spreads at Tradersway

At Tradersway, whether a live account or a demo account, there is an option to choose ‘MT4.FIX’ platform. At this platform, the users will have to trade at a fixed spread. Here, a standard lot is equal to 1000 units of the base currency. That is, the maximum leverage ratio can be up to 1:1000 without any extra charges. But choosing a leverage ratio between 1:20 to 1:100 is recommended.

How to withdraw money from Tradersway?

Getting paid from the Tradersway is quite simpler than other Forex sites. A user can choose any of the sources as mentioned above to withdraw the money from Tradersway. However, there are some essential rules to follow in case of any money withdrawal. The rules are-

1. The account must have to be verified with necessary documents before any kind of money deposition or withdrawal.
2. The withdrawal amount equal to the deposition amount must have to be withdrawn through the same source which a user used to deposit it. Additional or remaining amount can be transferred through any other sources listed at the tradersway.com .
3. A user will not be allowed pay any third party directly from the Tradersway.
4. Money withdrawal requests can take up to two business days to be processed.
5. If a user has a couple of accounts, and one of these accounts has a negative balance, the negative amount will be adjusted at the end of the week from the other account. And after that, a user can withdraw the rest of the amount.

Tradersway contracts

‘Contract for difference’ or CFD is a pact between two sides i.e. seller and buyer which involves the value of any specific asset. Under this pact, the buyers will have to pay the seller the present value of an asset. The present value is the sum of the value of an asset at a given time and the spread amount between the present value and the value of that given time. Considering the fluctuation of spread amount, the present value of an asset can increase and decrease. Therefore, it’s important to predict the fluctuations a product’s price, for both buyers and sellers to remain at the profit margin.

Conclusion

There are a few claims about its license issues since it doesn’t have an official clearance from a top Forex authority. It also doesn’t comply with many of the international rules for Forex operation. However, Tradersway offers some of the unique facilities which aren’t offered from a licensed forex sites. It uses all the best trading platforms, offers five different types of account, and covers three markets i.e. Forex, energies, metals. In addition, one can start using it with an initial deposit amount of $10.00 with a maximum leverage of 1:1000. Besides, wide range of payment/withdrawal options, free swapping of accounts, bonuses and promotions attracts a huge number of clients to choose this Forex platform over others.