Trader's Way évaluation
Trader's Way
Score total : 3.7 / 5
Total des votes : 108
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Discussion au sujet de Trader's Way
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fxdiva

Membre depuis Mar 28, 2013  11 messages fxdiva Oct 20 2015 at 06:08
I've repeatedly had the same issue with their charts freezing as well, but the worse happened when they STOLE my entire account balance last week. I had dozens of open trades (heavy on GBPAUD positions). During the rollover, Trader's Way increased the spread on my GBPAUD positions to 100 pips and wiped out my entire account! I am supposed to have an ECN account and receive low spreads. I also have two other non-ECN brokers and their spreads were no where close to 100 pips. I trade GBPAUD daily and know quite well what the spreads typically look like during the rollover, news events, and weekend. At no point during my nearly 4 year trading career have I ever paid a 100 pip spread on GBPAUD until I was ripped off last week. There were NO news events occurring, but for some reason Trader's Way decided to increase the spread to just the right amount to wipe out my entire account. I have sent them multiple email complaints about this issue including my account number, and the order IDs and have not received a single response to my complaint. However, I am sure they will respond to this public comment to give the illusion that they actually respond to PAYING CUSTOMERS and are not a scam. Beware.

By the way, I have tried to paste and upload the screenshot showing the 100 pip spread, but it's not working. If someone would fix the attachment issue I will gladly upload the proof of how Trader's Way scammed me.




Slurpeeforex

Membre depuis Jul 01, 2010  3 messages Slurpeeforex Jan 20 2016 at 17:23
Hi!

I have been with this broker for a few weeks now and everything seemed fine so far. But what makes me pretty worried now that the slippage even during no news time increases... I usually set stop or limit orders and almost every time when the SL or TP is hit, the price is worse than set. First of all, it was like 0,2 pips or so, which I understand, but today I received 2,3 pips slippage on GU when no news were happening (and in the afternoon GMT)...! Their response is that the markets are volatile and that ECN broker works this way... I have another ECN broker (AAAFx) and they don't work this way... I get the price I set in orders... So I wonder if someone has the same experience...? Because the whole internet is almost full of positive comments on them, so I am the only one..??

kosai

Membre depuis Feb 18, 2014  13 messages Alex Primus (kosai) Mar 13 2016 at 07:35
fxdiva posted:
I've repeatedly had the same issue with their charts freezing as well, but the worse happened when they STOLE my entire account balance last week. I had dozens of open trades (heavy on GBPAUD positions). During the rollover, Trader's Way increased the spread on my GBPAUD positions to 100 pips and wiped out my entire account! I am supposed to have an ECN account and receive low spreads. I also have two other non-ECN brokers and their spreads were no where close to 100 pips. I trade GBPAUD daily and know quite well what the spreads typically look like during the rollover, news events, and weekend. At no point during my nearly 4 year trading career have I ever paid a 100 pip spread on GBPAUD until I was ripped off last week. There were NO news events occurring, but for some reason Trader's Way decided to increase the spread to just the right amount to wipe out my entire account. I have sent them multiple email complaints about this issue including my account number, and the order IDs and have not received a single response to my complaint. However, I am sure they will respond to this public comment to give the illusion that they actually respond to PAYING CUSTOMERS and are not a scam. Beware.

By the way, I have tried to paste and upload the screenshot showing the 100 pip spread, but it's not working. If someone would fix the attachment issue I will gladly upload the proof of how Trader's Way scammed me.





You can just upload the image to a dropbox account and paste the link in your response. The site will automatically show the image. Also, TradersWay is clearly another bucket shop. More than one person here has explained situations where they had massive slippage that mysteriously appears during normal trading situations and the company wipes their hands of any responsibility (claiming that's the quote that their provider gave so it's legit). I've seen that happen with MaxFX and a lot of other scam brokers. This will never, ever happen with a legit broker.

When I was looking into them I decided not to because of this line in their customer agreement: 'In the event that there has been no movement (deposit/withdrawal, trading transaction in the case of no Open Positions) on your account balance for a period of at least six months (notwithstanding any payments or receipt of charges, interest or similar items) and the Company is unable to trace you despite having taken reasonable steps to do so, you agree that the Company may cease to treat your money as Customer's money and further that ownership of such money will be irrevocably transferred from you to the Company.'

Basically if your account is inactive for 6 months you agree to allow them to take all of it. The problem this poses is a major conflict of interest, where they have an incentive to not try and contact you to claim your money. The fact that a company can even dare to put something in their policy that gives them claim to your funds is just ridiculous. Why not just use an inactivity fee of $10 a month?

I didn't even read the entire policy. Who knows what other scary things are in there.

kosai

Membre depuis Feb 18, 2014  13 messages Alex Primus (kosai) Mar 13 2016 at 07:36
Slurpeeforex posted:
Hi!

I have been with this broker for a few weeks now and everything seemed fine so far. But what makes me pretty worried now that the slippage even during no news time increases... I usually set stop or limit orders and almost every time when the SL or TP is hit, the price is worse than set. First of all, it was like 0,2 pips or so, which I understand, but today I received 2,3 pips slippage on GU when no news were happening (and in the afternoon GMT)...! Their response is that the markets are volatile and that ECN broker works this way... I have another ECN broker (AAAFx) and they don't work this way... I get the price I set in orders... So I wonder if someone has the same experience...? Because the whole internet is almost full of positive comments on them, so I am the only one..??


No they are clearly scamming people. It's a sofisticated scam where they don't provide the price feed so they never claim any responsibility. They always point the finger to it being 'normal' or will give no explanation saying that it was just the price provided by their liquidity provider. MaxFX is another culprit of this same type of scam. No reputable and 'true' ECN broker can ever give you a spread that's 15+ away from the market, for the simple reason that the LP will never provide that quote because at the time the 'real' market never touched that price. I think, but i'm not sure, that it reveals they are routing orders to two seperate systems (i.e. an A&B order book). Where most of your orders get routed to the 'real' ECN market but a certain percentage are routed to what's essentially a dealing desk environment. How else can you explain quotes that are 15+ pips away from the real market? How can their platform even know to pick that price?

Look at the MaxFX thread and you'll see the large number of people who have 20+ and even a 100 pip spread. It's a sophisticated scam but I wouldn't keep my money with this broker. This is part of the reason why you want to avoid most brokers except the top 5 to 10. There's a reason their spreads are often so low and their terms attractive.

IMMLLC

Membre depuis Mar 06, 2015  1 messages International Money Managers, LLC. (IMMLLC) Sep 11 2016 at 06:37
Been trading with them for a few months. They have good spreads, good execution. transfer profits out almost daily. So far so good.

togr

Membre depuis Feb 22, 2011  4831 messages vontogr (togr) Oct 10 2016 at 13:07 (édité à Oct 10 2016 at 13:07 )
futama99 posted:
Anybody using this broker? not much discussion in the internet.
How is the execution? withdrawal?


Hi,

I am warning everyone to avoid this scam broker. I had 4 positions where SL were placed to make decent profit.
This trades were executed with slippage of 262 pips! 262!
As they guarantee minimum slippage I did request to fix the trades.
They did not reply and after 3 email they did deny to fix the stop loss.

Such broker cannot be trusted.

aeronthomas

Membre depuis Dec 04, 2010  1557 messages Ozzie Matt (aeronthomas) Feb 03 2017 at 02:21
Don't trade with a Dominica based broker! there is no protection for you when things go wrong like above.

uplinktrading

Membre depuis May 23, 2017  40 messages uplinktrading Oct 12 2017 at 14:55
futama99 posted:
Anybody using this broker? not much discussion in the internet.
How is the execution? withdrawal?


We've been using them for a few years now. No issues. We are in the US so options are limited. This is the best we've found.

togr

Membre depuis Feb 22, 2011  4831 messages vontogr (togr) Oct 13 2017 at 09:02
togr posted:
futama99 posted:
Anybody using this broker? not much discussion in the internet.
How is the execution? withdrawal?


Hi,

I am warning everyone to avoid this scam broker. I had 4 positions where SL were placed to make decent profit.
This trades were executed with slippage of 262 pips! 262!
As they guarantee minimum slippage I did request to fix the trades.
They did not reply and after 3 email they did deny to fix the stop loss.

Such broker cannot be trusted.

still made profit with them and withdraw each month.

TheGMan

Membre depuis Jul 01, 2012  2 messages TheGMan Sep 20 2019 at 20:46
I been trading every open trading day for over 3 years with Traders Way & all I can say is that they are the best broker I have traded through & believe me I've used many. Very fast & friendly customer service if you ever have any question. Very fast deposit & withdraws I never had the 1st issue with any withdraws. Good execution, great spreads, 100% matching Deposit Bonuses! What more can one ask for?

G

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