Trader's Way is a fraudulent company

Getpar

Private, 1st Class
Messages
28
As of today I began a withdrawal process with Trader's Way after a very profitable week of trading. I closed all open positions and orders and had a balance of 42K in the account small but considering I started with much less I was pleased with the return. I used the MT4 platform to trade mainly wti and eur/usd. I downloaded the account statement from my MT4 account history tab and begin sifting through the trades to ensure ticket numbers and time stamps for open and close of trades and commission etc. procee took roughly an hour upon completing this I transfered a small amount to a second account held with TW and initiated a withdrawal. Once I had confirmed the withdrawal not more than 30 min did my balance mysteriously shift to -23k!!! As it was very after midnight my local time I waited to engage with TW until this morning. I have attached the account history I downloaded and the new version that was updated once TW wiped out all my winning trades leaving only the losing trades that during my trading process I was using to reduce exposure hedge etc. So not only did they wipe out my winning trades but left the losers I was intentionaly taking to control my margin and risk exposure as result killing my account balance. I reached out to TW via the phone number on the website 1-849-937-0815 to which the response I got was they are the general help desk and could not access any information to help instructed me to email dealing@tradersway.com. The following is their response....

"Hello,

There was an issue with the WTI price feed today which was quite obvious based on what you see on the chart. The prices at which the trades were executed on your end did not match what was happening with the liquidity provider. Their feed did not match their execution. We therefore removed the trades from your account. They were not profitable and were losses. We did not leave those losses in your account.

The feed is back online properly as the LP fixed the issue and you can see the price action and patterns of WTI are not working normally again.


Regards,

SALES DEPARTMENT
T: +1 849 937 0815 | E: sales.en@tradersway.com

TW Corp.
Twitter @TradersWay | www.TradersWay.com"

I again asked for the name of the liquidity provider and price feed provider they were using so that I could verify the times in which prices were incorrect. My experience has told me that usually the off quotes message MT4 gives is indication of price feed issues. However, I was not getting these. TW wiped out all my wti trades from 1:45:29 GMT (I am guessing it GMT) all the way to 6:21:05 GMT so according to TW price feeds were incorrect for wti for over 4 HOURS!!! Really!!! Come on man! and in 4 hours I received no notification in MT4 message center nor did I recieve a phone call or email from trader's way. During this time I placed over 70 scalping trades on wti. All of which have been removed due to "incorrect" price feed from TW liquidity provider. The shortest time for opening and closing a trade being 2 seconds from open to close via time stamp records and the longest being almost an hour long hold.

The craziest part of this is that I am almost certain that had I not requested a withdrawal of funds They would have not done this. it was literally only after I requested the fund withdrawal that all of sudden they want to adjust my account history and remove almost 5 hours of trades in wti?! Really TW!? If you look and compare my account history on my statement I pulled once I closed all open position and orders at 6:21:05 back to ticket number 78881499 at 1:45:29 deposit of LTC against the TW Updated version you will see the discrepancies in the two accounts. I use mostly market execution order and one click trading to be able to enter and exit fast when scalping and by no means is that anywhere close to the speed of the HFT guys so how can I get a ticket number and time stamp on a trade albeit lasting seconds in a brokerage account that allows scalping like this and later be told price feed was off during this entire time frame. Trader's Way has yet to produce evidence from their liquidity provider that the price feed was incorrect and the time frames prices were misquoted. As of this evening I have gotten the same response from the helpdesk@tradersway.com it was a price feed issue in wti only apparently this according to them is comming from a seperate liquidity provider from their regular forex liquidity provider. Amazing to think in this day an age of technology an ECN broker can't get a simple price feed issue fixed in less than 5 hours and worse yet can't instantly notice it and within a couple of hours notify clients and stop trading in the instrument in question. Please help me find these fraudulent practices by Trader's Way and their so called liquidity provider whoever this may be guilty on all accounts of theft, fraud, and actions unbecoming of a reputable broker seeking to be a fiduciary of clients funds! How can anyone trade with this company and ever know that the price feed you are seeing is accurate? Short answer you can't so don't bother with these fools! Perhaps had TW notified their client's of price feed being wrong on MT4 and disabled the instrument we wouln't be having this conversation. Help brand these guys as frauds and scammers and if anyone has legal action advise I can take I'm ready to go on any and all legal action I can pursue and yes it isn't a large amount of money but it is enough that I want to put these guys out of business so they don't fleece the 99% of clients that are going to lose their money anyways only to have lightning hit them one day they see their profits disappear due to "incorrect" prices. That seems to be the company line from Trader's Way if it isn't in their favor just make it up and provide no information to the client to verify the issue with pricing, liquidity, platform issues etc. I'm sure the issues go well beyond mine for many of you who have been hoodwinked by what I really and truly hoped would be one of my favorite and most used brokers going forward but after four years this was the straw that broke this camels back!
 

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Getpar

Private, 1st Class
Messages
28
Update I have emailed the helpdesk@tradersway and here is there new line......

Hi,

We notified clients who took part in trades during this time on this particular instrument. It was only a few.

We do not advertise our liquidity partners anymore publicly.


Regards,

SALES DEPARTMENT
T: +1 849 937 0815 | E: sales.en@tradersway.com

TW Corp.
Twitter @TradersWay | www.TradersWay.com

Notice in this email response they still havent addressed me by name as most normal people who have clients address their clients! I am betting because some dude is sitting in an internet cafe in Dominican copy and pasting a standard reply. I have asked repeatedly for a communication they sent to clients regarding the problem with price feed and still no verification. The last email I got said this and notice in my first post they replied the problem was for that day only now on saturday as they are settling accounts for the week they have adjusted their response to read.....

Hello,

There were numerous time periods over the past few days where it happened, particularly 01:00 on March 27th for hours thereafter. It occurred back through at least March 24. Trading resumed approximately 08:00 server time on March 27th when everything appeared cleared up.

Regarding the end of your email, there is no guarantee that any particular price feed is accurate and will not require intervention. We depend on many third party companies to provide feeds and cannot make promises that do not depend on us.


Regards,

SALES DEPARTMENT
T: +1 849 937 0815 | E: sales.en@tradersway.com

TW Corp.
Twitter @TradersWay | www.TradersWay.com

As you can see in this response ambiguous enough right? Basically this reads F*** our clients we will adjust accounts as needed to avoid paying anyone profits on trades by not making sure our price feed is correct! If they are truly acting as an ECN then why do they really care they are pocketing commission and small spreads to cover the transaction! If they have third party price feed providers that aren't reliable you would think you might find one that is if your going to be an ECN promoter the commission alone is worth the price of admission for them. That all being said I am not blind to the fact that problems occur either but simple communication avoids the issue entirely! People will complain they got scammed all the time over price spikes etc. Its part of trading but price feeds being incorrect for 72 hour period is crazy and yet amazingly they didn't bust any of my wti trades on days other than the 27th so.....why not bust all my wti trades going back to the 24th probably because I didn't want to withdraw my profit on those days!
 

4evermaat

2nd Lieutenant
Messages
1,816
why do people believe only the words of a broker instead of their actions? tradersWay is very likely NOT an ECN. only a handful of brokers even come close to the definition of a "true ECN". Everyone else is in clever disguise, selling the forex get rich quick dream hoping to gobble up you deposit. There is another word for that I won't say here :)

You must read this article next for context: https://www.forexpeacearmy.com/comm...ime-of-prime-the-keys-to-understanding.59542/
 

TradersWay

TradersWay Representative
Messages
986
We attached two images here to illustrate the issue. These are M1 charts on WTICrude. This issue lasted for a few days and went unnoticed. It happened intermittently and would last for either minutes or many hours at a time. The charts attached show the main time frames under question in this thread.

You can clearly see the issue with the price feed that was going through our system. While this was happening, the price was going up and down 20 pips at a time, over and over and over again. If you check the trades placed by the client you will find they lasted only several seconds and were closed for a large "profit". In reality these trades were closed as losses. This is why we deleted them from the client's account - instead of correcting prices, which would result in unfair losses, we deleted the orders.

Based on the client's trading activity, he was taking advantage of this issue in our feeds and went to sleep feeling like he had found something to make him rich fast. Unfortunately, it was not real and we had to remove the trades. The client felt a sense of entitlement to these false "profits" and thus began all of the legal and other sort of threats. We will not change our response regardless of any threats or public discussion of this issue. We are sorry that you feel upset about this, but you can feel free to log into an account on our website and then log into any other broker and compare M1 Oil charts. You will not find another place with this sort of price action going on. We will not correct the charts and will leave them as such so you can freely make all of the comparisons you want.

We also understand that you made other trades on your account, specifically on EURUSD, which resulted in losses. These losses were correct and not initially deleted from your account. We are willing to remove those trades too as the false profits you generated on oil affected your lot sizes chosen on other instruments. However we have not done so yet as you keep demanding that we pay you $42,000 as a "Settlement" of this issue. This will not happen, so our discussion has not yet moved forward. When you are willing to accept that all of these oil trades will not be paid, we will be more than happy to discuss the other trading activity that occurred on March 27th on your account.

Below are a couple of trades to illustrate our point that come from the trading statement you posted:

2020-03-29 12_08_54-Statement_ 352272 - Jonathan Lynch as of 11.38 pm 3.26.20 central time.pdf...png
A trade of 15 lots was opened and 11 seconds later it closed 22 pips higher. Then somehow the price returned back down 9 seconds later, when another trade was opened. Closed 11 seconds later once again for a profit of 19 pips. This shows the reality of what was happening, which is further shown by the charts - there was a problem and the price kept jumping up and down, up and down, over and over again for many hours. It is very easy to generate thousands of dollars of "profits" during such a time, but these are not real and do not match what was actually happening.

Client can email us and discuss how we will handle the other trades (EURUSD, etc.) that occurred during that time, but we will not be discussing anything that involves being paid for these false profits.
 

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Getpar

Private, 1st Class
Messages
28
Sounds to me like a broker got burned and is like all their clients when they call them scammers saying they moved or manipulated prices! Is that what you are saying @TradersWay that I stole your money? Did price offer at those levels quickly? Yes! How in reality were those trades closed as loses? When my MT4 says off quotes what does that mean? Why will it not open a position when it says off quotes and how does MT4 know a price is off quotes?
 

TradersWay

TradersWay Representative
Messages
986
Sounds to me like a broker got burned and is like all their clients when they call them scammers saying they moved or manipulated prices! Is that what you are saying @TradersWay that I stole your money? Did price offer at those levels quickly? Yes! How in reality were those trades closed as loses? When my MT4 says off quotes what does that mean? Why will it not open a position when it says off quotes and how does MT4 know a price is off quotes?
No, this is not correct. We are saying nothing other than what we typed -- there was an issue with the price feed, it was discovered, and all affected trades were removed. Period.

Trades were really losses because you were opening and closing them quickly, so you paid commission and lost spread. On your screen, you saw profits coming from the 20 pip false moves, but those never happened.

Offquotes is not the same thing as what happened. Offquotes happens for a variety of reasons, such as when a LP rejects orders. That did not happen here. The orders was accepted at the real price, and shown as such on our omnibus account on our side. But their feed was injecting false prices into our platform and thus showing something different to clients.

The chart and price patterns say it all. When you are ready to move the discussion onto your other trades send an email.
 

Getpar

Private, 1st Class
Messages
28
@TradersWay You say this incorrect. Ok how about giving exact timeline of when the feed was bad. Surely you know exactly what time frame prices were off otherwise how could you possibly consider something a bad trade. Is scalping allowed by you guys? Isn't what just happened the very definition of scalping trades? You got burned face it. You have no Liquidity Provider you are the counterpart to all your clients and you got burned face it and pay up! Omnibus account? Isn't there anonymity of client in an omnibus account and why would you have me in one? Who is "their feed" You can't provide details regarding this matter because the trades were legit they were at times of low liquidity so yes markets can gyrate like the chart you pulled out of thin air and posted on here. You didn't even included the time line on the chart because you referenced my two trades and they didn't even coincide with the two charts you are trying to use to offset my trades! Don't use terms like omnibus account and liquidity provider unless you can validate simple things like time frames it should all be recorded on your servers right? Easy enough to give exact time frames of outages.
 
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