- Traders way. Can you trust this forex broker?
- Essential information about them
- Registered or not? You might be confused
- No background about the company
- Trying to freeze accounts with money in
- Questionable platforms
- Bad customer support and negative reviews
- Regulators are warning traders about this broker
If you don’t find too much questionable information about brokers, does it mean that they are legit? This is a mistake that many new traders are doing. Just because they don’t find everything they are looking for before using a broker, it doesn’t mean that they are legit. We are specifically talking about Traders way forex brokers. You might not find all the answers to your questions, but one thing is obvious. They aren’t recommended.
Traders way is doing business since 2010. They are situated in Dominica and are trading all over the world. However, this is basically all the information that we can get about the company.
They are known to be recommended traders, but the moment that you are looking into the company, you will see that this isn’t as simple as recommended or not. There are a couple of reasons that will prove that they might not be as reliable as what they might advertise.
This is where the first confusing might come in. Some traders and experts are saying that they are registered, while others are saying that they aren’t. What is really the correct answer?
They are registered, but only as a Dominican broker service. They aren’t registered internationally as international brokers. The one important thing to have for a forex broker. And, because they aren’t really registered, they aren’t regulated. Meaning that they can do just about anything they want to do. This is the first reason why they aren’t recommended to use as forex brokers.
Another red flag is the background of the company. In an international company or online business, you will get some sort of background about them. The founders, the address and telephone numbers. You even might find a license number and a customer support email address.
When you are searching for Traders way’s company information, you will see that there isn’t much information to go on. Besides the fact that they are forex traders, and that they are situated in Dominica and started in 2010, there isn’t any other information. Not even the name of the CEO or the founder of the company.
One of the most common complaints from traders, when dealing with Traders way, is the fact that they are frozen or closing accounts without permission. And, if you are looking at the complaints, this is accounts that are successful and that have profit in. The profit that they are allowed to withdraw.
But the moment that they want to withdraw the money, the account is closed and the money is gone. And, no matter how hard you are trying, you don’t get any real answers. They just claim that you disobeyed their terms and conditions.
This can be confusing. Many people like the easy to understand platform that they are offering their traders. They like this because this is so easy to use and to work with.
However, professional and experienced traders are saying that there is something fishy about the platform. It is way too easy and easier to get profit than other brokers. But why? Just because they aren’t legit and they can do whatever they want to do. The more money you are winning, the more money they will have when they close your account without your consent.
This is a big indication that Traders way isn’t legit. They have bad customer support when you have problems with your account, or your account just getting closed without warning. They are not returning any answers or assistance to the complaints. It is if they just don’t care if you have problems or not.
The other thing is all the negative reviews. There are lots of it. Definitely more bad reviews than good reviews, or even the information about the company. Complaints that their money is just disappearing, or complaints that are going unanswered.
The final verdict. What are regulators saying about the Traders way? Are they considering this forex broker as legit or as fake?
According to all the records and investigations, regulators are warning every trader against Traders way. This is because there isn’t enough information about them, and they aren’t reliable and trustworthy. There are better brokers out there that are more reliable and trustworthy. Traders way isn’t the best choice to use as a forex broker.
Traders way. A forex broker. But if this is a trustworthy broker is something that you should make sure about. You don’t want to use a broker that can’t be trusted. And, there are many signs that these brokers are untrustworthy and not recommended. There are official regulators warning about using this broker. It is dangerous to invest in a company that you can’t find any essential information on. You should consider using more reliable and recommended brokers than Traders way.