TradersWay Forex Broker is a Scammer

[mrcoldcream]

Can't get the correct address for Tradersway

Mr. Max,
How delightfully vague you are about those other countries.

Also still no answer about which office the alleged client was allegedly visiting when he placed that review - or even stepping up and admitting that the review wasn't really placed by a client.

Pharaoh is right! I went to my bank, (Bank of America) and tried to wire funds to where they told me to and could not. My bank tried to contact them by phone and the number on their website doesn't work and when they emailed them for their Country and City Tradersway never replied. Now I don't trust them and will be going with Finfx. they are rated very high but you have to have a passport to open an account with them. I'm in the process of getting my passport now and would have signed up with them 1st if not for this requirement.

 

[Pharaoh]

Perhaps Mr. Max could return to this thread and confirm where his company's bank account is located. It's already obvious that he's never going to tell us where his office is really located.

 

[jbmaverick]

Unregulated - Thank God

Hello iNuke,
.
.....I have confirmed TW Corp openly states it is not governed by any Regulatory Authority anywhere.

Anthony Ingrassia, CTA
NFA ID#: 0278164

Yep - God bless 'em!

Seriously, "unregulated" does not inherently mean "dishonest". One must, of course, use caution when dealing with ANY broker, regulated or unregulated (there are thousands of people who've been ripped off by REGULATED brokers - I'm pretty sure Bernie Madoff was "regulated", right? Wasn't PFGBest regulated?). And logically one should use more caution when dealing with an unregulated anything. However, as someone who specifically seeks a broker that is not under the oppressive thumb of Uncle Sam's regulatory bodies, I don't see the word "unregulated" as an automatic red flag, but rather as a possible sign of light. To me, the current U.S. regulations are back-breaking, especially for small, beginning traders. I started out with a $50 account at FXCM - my small business as a forex trader could never have gotten off the ground under the current U.S. regulations (like 50:1 maximum leverage, and the utterly insipid "no hedging" and FIFO rules - can anybody explain a logical rationale for the "no hedging" rule?). Fortunately I was able to get started before the Godforsaken Dodd-Frank bill, and I now earn my living as a forex trader.

What bothers me more than unregulated brokers is the gall of the U.S. in assuming that it has the right to regulate brokerages WORLDWIDE. What country is so full of itself that it thinks it ought to be able to regulate the business practices of companies in other sovereign nations? (Answer: ONLY the U.S.)

I have traded, profitably, with TW for about a year, and have fewer complaints against them than I have had with a number of other, "regulated" brokers, such as FXCM and Oanda. That's my own limited experience, and I certainly can't speak universally on TW's morality or lack thereof. But my point is simply that it takes something more, in my opinion, than merely the word "unregulated" to write a broker off as a scam.

Respectfully,
Jack Maverick

 

[Pharaoh]

Unregulated means that if something goes wrong, you've got little chance of getting a cent back. Sure, there are scams like PFG, but in countries with regulation, those are few and far between. Most brokers that pull a disappearing act have these two traits in common:

1. No regulation.
2. No discernible physical location, other than maybe a virtual office somewhere.

 

[dbcooper]

In checking out Traders Way. I realized an inability to Connect their platform to my 3rd party software. I checked with their support group which at 1st played dumb with repeatedly complete BS answers. Like they were not even serious responding to their potential new customer. Finally they admitted to API restriction. Which could only be resolved by depositing $50K USD in a live account. I moved right along, You should too!...

 

[The ASSARV10 Team]

Traders way is definitely a scam. They bet against clients and claim they do not modify prices. Completely obvious bull****. Obviously you modify your prices, this is a RETAIL MARKET. Do not go to this broker, They are one of the dirtiest scammers on the planet.

 

[RahmanSL]

I think sometimes we rush quickly to name companies and brokers Scam without getting further evidences other than a new member like "INuke" come to FPA to tell us his story but we must also listen to the opposition to compare.
Am really angry of "INuke" action of showing us as if was totally Scammed by Tradersway when his account was just a demo account and the broker had just announced that it's ready to compensate the order loss due to a technical problem from its LP.
Okay, I understand to advice traders to not open a live account with an unregulated broker like Tradersway(Dominica legislation neither enough nor convincing to anybody).
But, from my concept of not all regulated brokers are good(not scams) as much as not all unregulated brokers are bad(scams), also looking at many factors involved when a broker want to become regulated at some Top Regulatory Bodies.
Let us discuss and judge each case alone according to the evidences provided by the client and the broker without making prejudgment, unless the broker had some dozens of Scam Open Cases and Guilty Verdicts at FPA, only in this case you can add as many strikes as you like

Yes, @FXCobra, sometimes we are too quick to rush into judging a broker from just a "HELP, I HAVE BEEN SCAMMED" post from the depths-of-the-worldwide-web and not knowing the full extend of the problem.

Normally I would not be the one to speak-up for a not-so properly regulated broker, however, some years ago I had an issue on my live account with TradersWay but they quickly solved the issue and reimbursed me in full without too much fuss.
So, in my opinion, TradersWay is one of the better not-so-regulated brokers ....and that iNUKE is being downright ridiculous in screaming "SCAM" on a Demo account.

 

[RahmanSL]

I think sometimes we rush quickly to name companies and brokers Scam without getting further evidences other than a new member like "INuke" come to FPA to tell us his story but we must also listen to the opposition to compare.
Am really angry of "INuke" action of showing us as if was totally Scammed by Tradersway when his account was just a demo account and the broker had just announced that it's ready to compensate the order loss due to a technical problem from its LP.
Okay, I understand to advice traders to not open a live account with an unregulated broker like Tradersway(Dominica legislation neither enough nor convincing to anybody).
But, from my concept of not all regulated brokers are good(not scams) as much as not all unregulated brokers are bad(scams), also looking at many factors involved when a broker want to become regulated at some Top Regulatory Bodies.
Let us discuss and judge each case alone according to the evidences provided by the client and the broker without making prejudgment, unless the broker had some dozens of Scam Open Cases and Guilty Verdicts at FPA, only in this case you can add as many strikes as you like

Yes, @FXCobra, sometimes we are too quick to rush into judging a broker from just a "HELP, I HAVE BEEN SCAMMED" post from the depths-of-the-worldwide-web and not knowing the full extend of the problem.

Normally I would not be the one to speak-up for a not-so properly regulated broker, however, some years ago I had an issue on my live account with TradersWay but they quickly solved the issue and reimbursed me in full without too much fuss.
So, in my opinion, TradersWay is one of the better not-so-regulated brokers ....and that iNUKE is being downright ridiculous in screaming "SCAM" on a Demo account.

 

[chongrudy12]

tw is a scam, they will do anything to make sure you lose

 

[FxMaster]

tw is a scam, they will do anything to make sure you lose

It will be good if you can open a new thread in scam folder if you have a problem with them.