Trader's Way is a no dealing desk/STP Forex broker that provides traders with a range of interesting trading opportunities. Specifically, Trader's Way offers markets in the Forex, Stocks, Energies, Commodities, and Metals industry using a MetaTrader 4 platform. There are no limits if you sign up with a broker on Trader's Way and you have four account possibilities to sign up with.
A nice feature about the trading conditions at Trader's Way is that the minimum deposit is $0.2! They provide both live and Forex practice accounts to help you get started and depositing or withdrawing money is very simple.
A bonus for signing up with Trader's Way is a 55% deposit bonus. We would like to see more promotions available on their site, however for now that is what's available. Perhaps more importantly, we discovered during this Trader’s Way review that the brokerage is not regulated, which is something that we cannot easily overlook. Equally concerning is that the broker says straight out that they do not require any documentation to open an account – you will only need documentation to deposit via credit card and to withdraw.
The brokerage offers both fixed and variable spreads on their standard accounts, as well as ECN and micro account options. While this sounds like a nice range of offerings, we often find that brokers focusing on one specific offering or trading type are more focused and easier to work with. FXPRIMUS, for example, offers only ECN trading but at least traders can remain focused – while enjoying knowing that they are trading with a secure, regulated brokerage. The same cannot be said for Trader’s Way.
There’s no question that during our Trader’s Way review we found the brokerage to oversimplify the trading process and to market their services to new traders who wouldn’t know any better than to be seduced by bonuses and marketing hype. If you’re looking for a serious Forex trading experience, we’d recommend nearly any other Forex brokerage.
Review info: Traders Way
Review Date: 2013-04-03
Rating : 1
Reviewed By : Sara Patterson (Google+)
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Beware this broker if you regularly have open trades over the weekend or holidays ... spreads can go from a few points to 70+ and stop-out your account especially if you're highly leveraged or margined. Happened to me recently and I'd provided a screen snapshot if this allowed it. You'll think you have things under control until after the weekend or holiday and then you'll find your account has been wiped out although you thought you had enough free margin. The astronomically high spreads are what do it. If you close trades fast (scalping) or normally close out all your open trades before the end of the day well before swap charges incur you should be okay if you plan to trade forex but otherwise you could incur substantial losses when spreads widen to the degree they do with Trader'sway. I don't remember them widening so much in the past but I guess greed has no boundaries and this broker is showing it isn't different from any other greedy broker and will use any tricks it can to put your funds in their coffers.
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