Is It Safe to Upload Bank Statements to Tradersway
WHO IS TRADERSWAY?
According to enquiry in South Africa, TradersWay is a market place maker, ECN, and STP banker which has been in operation since 2011, with headquarters in Dominica.
TradersWay offers flexible accounts along with powerful trading platforms through which various tradable financial instruments tin can be traded, although non-Forex trading instruments are limited.
TradersWay is an offshore broker which is legally registered in Dominica under the proper noun TW Corp. This banker is not regulated by any regulatory entity and traders are warned to proceed with caution in using this banker to facilitate trades.
Safety OR SCAM?
When evaluating dissimilar brokers, it is imperative for traders to research and thoroughly compare brokers firstly based on regulation earlier considering several other factors.
TradersWay is not regulated, although it is a legally registered broker in Dominica under the proper name TW Corp. Although in that location is a lack of regulation, TradersWay claims to keep client funds in segregated accounts, divide from the visitor'southward funds.
In ensuring this, brokers are prohibited from using client funds for whatsoever other purpose other than to accommodate trading activities and these funds should be available for withdrawal by the client at any given fourth dimension.
The purpose of regulatory entities is to ensure that safety measures such as these are in place amidst a long list of other requirements and obligations that are enforced past these entities. Without such, in that location is no guarantee that client funds are condom.
Yet, TradersWay does make provision in having both Anti-money laundering, or AML, and Know Your Client, or KYC, procedures in place.
PROS AND CONS
| ✔️ Pros | ❌ Cons |
|---|---|
| AML and KYC procedures in place | Broker is not regulated |
| Customer funds kept in segregated accounts | Limited fiscal instruments offered |
| Leverage based on business relationship balances | No negative balance protection |
| Adequate leverage ratios offered | Accounts are tied to certain trading platforms |
| Multifariousness of accounts | |
| Favourable trading conditions | |
| Low minimum deposit required | |
| Depression commissions charged on trades | |
| Education provided | |
| Research provided | |
LEVERAGE
Leverage is an extremely useful tool that can be used to increase the take chances of gains and turn a profit by allowing traders to open positions much larger than their initial deposits.
Simultaneously, leverage also exposes traders to substantial losses that may exceed their initial deposit if risk management tools such as stop loss and take profit, trailing cease, and others are not applied, in addition, negative residual protection also offers extra prophylactic.
TradersWay provides leverage upward to i:thousand which is substantially above what other brokers offer and although this increases potential gains, information technology greatly increases the risks of losses that can exceed the trader's initial eolith.
TradersWay offers its leverage based on a tiered model depending on the account rest of the trader and while almost of the accounts offered take the aforementioned calibration, the CT ECN account has restricted leverage of 1:500.
The tiers according to which TradersWay offers leverage include:
- Balances lower than $5,000 – 1:1000
- From $5,000 to $fifty,000 – 1:500
- From $50,000 to $sixty,000 – 1:400
- From $60,000 to $70,000 – 1:300
- From $lxx,000 to $80,000 – 1:200
- From $80,000 to $100,000 – 1:150, and
- Balances higher than $100,000 – 1:100
The leverage provided to traders who agree a CT ECN account works in a like fashion with the exception that the maximum leverage starts from i:500 and is reduced with higher account balances.
In addition to this, the maximum leverage for metals is half of the leverage of the trader's account, energies are 1-viii, and cryptocurrencies ane-fiftieth.
TradersWay does not offer negative balance protection to clients which increases the run a risk of losses that exceed the trader's ain capital.
ACCOUNTS
TradersWay offers a choice between four different accounts, each with its ain unique trading conditions to cater to traders who have differing needs and trading objectives.
TradersWay's account options include:
- MT4 VAR – with a minimum deposit of $10, leverage upwards to one:1000, floating spreads from 0.vii pips, and commission free trading.
- MT4 ECN – with a minimum deposit of $10, leverage upward to i:1000, floating spreads from 0 pips and commissions of $iii charged when trading Forex and metals.
- MT5 ECN – with a minimum eolith of $10, leverage up to 1:m, floating spreads from 0 pips and commissions of $3 when trading Forex and metals.
- CT ECN – with a minimum eolith of $10, floating spreads from 0 pips, leverage upwards to 1:500 and commissions of $3 when trading Forex and metals.
TradersWay has tight and floating spreads which, when compared to other brokers who offer similar trading conditions, is quite standard.
TradersWay offers a demo business relationship along with providing Muslim traders with the pick of converting their alive trading account into that of an Islamic Account.
MARKET INSTRUMENTS
TradersWay offers the post-obit tradable financial instruments:
- Forex
- Precious metals
- Energies, and
- Cryptocurrencies
FEES
TradersWay has a competitive fee schedule when compared with other brokers starting with the low minimum deposit required when opening an account, which is the same despite the account that the trader opens.
The spreads offered by TradersWay are tight and floating, starting from 0.0 pips on the more than premium accounts along with fixed commissions of $iii charged when trading Forex and metals when using the MT4 ECN, MT5 ECN, and CT ECN accounts.
DEPOSIT AND WITHDRAWAL
TradersWay supports a variety of popular payment methods which includes:
- Bank Wire Transfer
- Credit/Debit Cards
- Neteller
- Skrill
- Crypto, and more.
In addition, TradersWay supports the following eolith currencies:
- USD
- EUR
- CAD, and
- GBP
TRADING PLATFORMS
TradersWay supports the apply of three of the almost pop and user-friendly trading platforms, namely cTrader, MetaTrader 4 and MetaTrader 5 through which trades can be executed.
These platforms are some of the best in the manufacture and they come with a variety of features born to cater for any trading needs and preferences that even some of the nigh experienced traders may have.
These platforms can be downloaded onto the following devices:
- Desktop PCs that run either Windows, Linux, or Microsoft.
- Mobile devices that run Android or iOS operating systems, or alternatively,
- The trading platforms can be accessed through whatever spider web browser.
HOW TO OPEN AN Account
To open an account with TradersWay, traders can simply navigate to the banker's website and select the selection to register which volition have them to an online application that requires the trader's personal and contact information.
On the same page, traders can select their blazon of account, which is tied to a specific trading platform, along with their business relationship currency. Traders will accept to read and accept the customer agreement earlier they can proceed in opening their accounts.
Subsequently having submitted the application, the trader will have to verify their email accost by clicking on the embedded link in the e-mail they will receive from TradersWay.
In addition, traders are subjected to the 'Know Your Customer', or KYC, a process that will require that they submit proof of their identity and residential address before their awarding will exist canonical.
Once the required information and supporting documents have been submitted, TradersWay's accounting department will review the information and documents earlier the account is opened for funding, later which trading tin embark.
Client SUPPORT
TradersWay customer back up can be contacted either by telephone, via electronic mail, or by making use of the live/instant chat option provided on the website. Customer service hours are like to that of the Forex market which is 24/5.
Didactics
TradersWay provides traders with webinars with the purpose of helping to amend the trading knowledge and skills of traders.
The webinars are conducted and presented by TradersWay'due south own Chief Forex Strategist who has over ten years of feel.
RESEARCH
TradersWay provides a vast amount of research tools and resource including:
- A Quickdeal tool
- cMirror
- MetaTrader trading signals
- VPS Hosting Service
- FxWire Pro Newsfeed
- Economic calendar, and
- Market Outlook
AWARDS
There is no mention of any awards that TradersWay has obtained.
Conclusion
Although unregulated, TradersWay offers trading conditions that set it apart from its peers with low trading and non-trading fees along with a diverseness of accounts that cater for various traders despite their cognition, skill, and experience.
TradersWay caters for both beginner and more experienced traders in its comprehensive offering in add-on to providing adequate teaching and research to assistance traders in improving their trading skills and knowledge.
TradersWay provides access to four of the largest financial markets through its offer and provides access to three of the well-nigh powerful trading platforms through which trades can be executed, and trading skills improved with an assortment of features.
Despite the trading conditions and claims that it is a legitimate banker, TradersWay does non offering traders with guarantees pertaining to client fund security and traders still need to proceed with circumspection when dealing with unregulated brokers.
DISCLAIMER
TradersWay warns traders of the significant risks involved with trading leveraged fiscal instruments such as Forex, and numerous others and warns that from these risks great losses that exceed the trader's initial capital may upshot.
Traders are brash to evaluate non simply their run a risk exposure but likewise their willingness to be exposed to such significant risks as it may not be suitable of all traders.
Earlier making trading or investing decisions, traders need to evaluate their trading and financial objectives and ensure that they have the necessary adventure management protocols in place to minimize gamble every bit TradersWay does not offer negative balance protection.
Tradersway at a glance
| Broker's Name | TradersWay |
|---|---|
| 🏛️ Headquarters | Dominica |
| 📅 Year Founded | 2011 |
| ⚖️ Regulating Authorities | None |
| 🌐 Countries not accepted for trade | U.s. |
| ☪️ Islamic business relationship (swap-free) | Yes |
| 📒 Demo Business relationship | Yes |
| ✴️ Institutional Accounts | No |
| 👨🏼💼 Managed Accounts | No |
| ⬆️ Maximum Leverage | ane:yard |
| 💰 Minimum Deposit | $10 |
| 💳 Deposit Options | Bank Wire Transfer Credit/Debit Cards Neteller Skrill Crypto, and more |
| 💳 Withdrawal Options | Bank Wire Transfer Credit/Debit Cards Neteller Skrill Crypto, and more |
| 📊 Platform Types | cTrader, MetaTrader four, MetaTrader 5 |
| 📶 OS Compatibility | Spider web browsers, Windows, MacOS, Linux, Android, iPhone, tablets, iPads |
| 📈 Tradable assets offered | Forex, metals, energies, cryptocurrencies |
| 💬 Languages supported on Website | 11 Languages supported |
| 💬 Customer Support Languages | 11 Languages supported |
| ⏲️ Customer Service Hours | 24/5 |
Often Asked Questions
TRADING Surround
How many instruments tin can I trade with TradersWay?
You can merchandise the following financial instruments:
- Forex
- Precious metals
- Energies, and
- Cryptocurrencies
Which platforms are supported by TradersWay?
cTrader, Metatrader 4 and MetaTrader 5.
Does TradersWay offer leverage?
Yes. TradersWay offers leverage up to 1:1000.
What spreads tin I expect with TradersWay?
Spreads from 0.0 pips.
Does TradersWay charge commission?
Yep. Commission charges of $3 when trading Forex and metals using the ECN accounts.
Is TradersWay regulated?
No. TradersWay is non regulated.
Is TradersWay a recommended forex trading broker for experts and beginners?
Yes. TradersWay is recommended for employ by beginners and experts merely traders are warned about the risks involved when using unregulated brokers to facilitate trades.
What is the overall rating out of 10 for TradersWay?
7/x
ACCOUNTS
What is the difference between a demo and a live trading account?
A Demo Account is a run a risk-free account that is funded past virtual money and allows traders to either practise trading, explore the brokers offering, or test trading strategies in a mimicked live trading environment.
Does TradersWay offer a demo account?
Yes.
For how long is the demo business relationship valid?
This data is not available but when by and large comparing demo accounts between brokers, the frequent term is 30-days.
Which live trading accounts does TradersWay offer?
- MT4 VAR – with a minimum deposit of $10, leverage up to 1:chiliad, floating spreads from 0.7 pips, and commission-gratuitous trading.
- MT4 ECN – with a minimum deposit of $10, leverage up to 1:g, floating spreads from 0 pips, and commissions of $iii charged when trading Forex and metals.
- MT5 ECN – with a minimum eolith of $10, leverage up to 1:1000, floating spreads from 0 pips, and commissions of $3 when trading Forex and metals.
- CT ECN – with a minimum eolith of $10, floating spreads from 0 pips, leverage up to 1:500, and commissions of $3 when trading Forex and metals.
What are the available deposit currencies for a live trading account?
- USD
- EUR
- CAD, and
- GBP
DEPOSITS AND WITHDRAWALS
What is the minimum deposit for TradersWay?
$10.
How practise I brand a deposit and withdrawal with TradersWay?
- Banking concern Wire Transfer
- Credit/Debit Cards
- Neteller
- Skrill
- Crypto, and more than.
Does TradersWay charge withdrawal fees?
No.
How long does information technology have to yard ake a withdrawal?
This volition depend on the method through which withdrawals are made along with the process involved and generally it tin take between one and several business days.
Featured SA Shares Writer and Forex Analyst.
cromptonthold1963.blogspot.com
Source: https://sashares.co.za/tradersway-review/
Enregistrer un commentaire for "Is It Safe to Upload Bank Statements to Tradersway"