Hey,
Thanks for your message. I’ve looked into TradersWay and I believe it’s a scam. Please don’t use them as your broker.
The reasons are the following:
- TradersWay is not regulated by any authorities. Reliable brokers are regulated by top-tier financial authorities who enforce the strictest rules to make sure brokers play fair and don’t engage in any shady activities. This means a significant risk for the safety of your funds.
- I’ve read through their terms and conditions and while some of their clauses are typical for many brokers, the broad limitation of liability and account termination clauses could be warning signs of a scam broker.
- Lastly, their refund policy clearly proves that they are a scam. “You can request refund of your money 100% if you did NO TRANSACTIONS on your trading account.” This policy is highly unusual and problematic because it essentially means once you start trading, you cannot get your money back under any circumstances, which is a tactic often used by scam brokers to trap funds.
If you’re looking for reliable and regulated brokers, you can find them here: https://brokerchooser.com/broker-reviews.
Best wishes,
Andris