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Traderway spike on charts

  • #21
  • Aug 30, 2017 8:13pm Aug 30, 2017 8:13pm
Yes, when I first started with Tradersway this was an issue for me as well. However I can think of Several reasons why I would want to keep my address low profile. What mattered to me in the end was how responsive the customer service is. If I ever ran into trouble with TradersWay I know I can find them. So I made the decision to sign up with Tradersway. I have 5 brokers which Three of them I selected based on reviews, including Tradersway. The unwillingness to give an address is not a problem for me knowing how horrible some governments can be. I can find Tradersway if I need to. Like I said before TradersWay has been perfect thus far but I have in the financial industry a long time, and I have been in forex a long time and I am prepared to deal with any broker accordingly.
L-Train
  • #22
  • Aug 31, 2017 8:11am Aug 31, 2017 8:11am
They dont even have an address on the website. T&C says governing law is Dominica. Its probably just a po-box. Basically you dont know who you sent your money, and if they decide to just close shop and run with the $ there is literally nothing you can do. Thats a lot of trust you place in people you know absolutely fk all about.
  • #23
  • Sep 1, 2017 10:49am Sep 1, 2017 10:49am
Looks like they did address and credit my account. Email followup i received today:

Hello,

The orders were opened at incorrect/non-market prices due to a technical error on one of our liquidity provider’s side, therefore they were removed and your account was corrected accordingly.

We apologize for the inconvenience.
Trade with confidence, trade without fear.
  • #24
  • Sep 1, 2017 4:26pm Sep 1, 2017 4:26pm
Excellent Cryptosurf, Glad to hear that. Thanks for the post. Now we know we don't have to go out of our way. Every time I have had a problem, Tradersway has been promptly responsive and fair in judgement. I dont have the false expectation that all complaints should go my way. I am simply relating my experience with this broker.
L-Train
  • #25
  • Sep 1, 2017 7:45pm Sep 1, 2017 7:45pm
I'm calling bullshit on TW. Doesn't it strike anyone as odd that despite the hundreds of ECN brokers which all use common LPs that this glitch was isolated to TW? Whoever this "LP" was had to so specialized that they exclusively provide quotes to TW.

...hmmmm
  • #26
  • Sep 1, 2017 11:35pm Sep 1, 2017 11:35pm
Forex ECN (Electronic Communication Network) is a technology that allows the trader to be able to deal directly through the Straight Through Processing forex system to the various liquidator providers as the major banks and international financial institutions. This type of order is faster and there is no element of manipulation, so it is suitable for traders who requires quality and professional trading. Trading forex on ECN platform can bring a very fast and big profit, especially for the Professional Trader that has been experienced, but it is also high-risk, therefore learn the basic principle and practice it first in advanced before go to the Live Account.
  • #27
  • Sep 2, 2017 5:11am Sep 2, 2017 5:11am
so i'm not judging this broker yet as i have no experience with them

but what i find odd is the fact that they claim to have a professional interbank ECN feed with STP technology but yet some of their LPs happen to send off market quotes from time to time

Quoting ltrain
one of our liquidity providers was sending off market quotes
Quoting Cryptosurf
We have disconnected and dropped this liquidity provider so that the issue will not reoccur.
what i also find odd is the lack of any proper address on their website and the lack of any real name and surname of staff dealing with clients : the jury is still out , but doesn't it smell a bit fishy ?

i hope i'm wrong but they don't look like the most transparent and honest broker although they apparently have fixed all issues so far
  • #28
  • Sep 2, 2017 8:10am Sep 2, 2017 8:10am
Quoting MXT
they claim to have a professional interbank ECN feed with STP technology but yet some of their LPs happen to send off market quotes from time to time {quote} {quote} what i also find odd is the lack of any proper address on their website and the lack of any real name and surname of staff dealing with clients : the jury is still out , but doesn't it smell a bit fishy ?

Doesn't this, says it all?

-------------------------------

Where is TradersWay.com currency broker based?

TradersWay is based in Dominica, its address is:

8 Copthall,
Roseau Valley, 00152
Dominica.

---------------------------
  • #29
  • Sep 2, 2017 8:46am Sep 2, 2017 8:46am
Quoting ReverseFlash
{quote} Doesn't this, says it all? ------------------------------- Where is TradersWay.com currency broker based? TradersWay is based in Dominica, its address is: 8 Copthall, Roseau Valley, 00152 Dominica. ---------------------------
where did you get that ?
  • #30
  • Sep 2, 2017 9:05am Sep 2, 2017 9:05am
Quoting MXT
{quote} where did you get that ?

Tradersway is clearly a BS.

http://www.tradeforextrading.com/bro...-broker-review

https://www.forexbrokerz.com/brokers/traders-way
  • #31
  • Sep 2, 2017 10:06am Sep 2, 2017 10:06am
Quoting ReverseFlash
{quote} Tradersway is clearly a BS. http://www.tradeforextrading.com/bro...-broker-review https://www.forexbrokerz.com/brokers/traders-way

I've been using them for a little over 2 years and haven't had a problem other then this recent event. Deposits and withdrawal's have always been timely and without problems. They have always been responsive and addressed every single issue, big or small. As a result i'll give them the benefit of the doubt.

There's a reason people use them, especially US clients as our options are very limited. The current minuscule list of regulated brokers in the US i would not regard as any better.

I also never keep all my eggs in one basket. I currently use three different FX brokers, and only keep enough in each account to trade with during the week. Profits are trimmed off at the end of the week.

Eventually as my trading improves, I will most likely move my trading to a US futures broker. Until then i will continue using them with confidence.

As with any FX broker (regulated or not) i put my trust in them up until the point that i don't.
Trade with confidence, trade without fear.
  • #32
  • Sep 2, 2017 11:08am Sep 2, 2017 11:08am
Quoting Cryptosurf
{quote} I've been using them for a little over 2 years and haven't had a problem other then this recent event. Deposits and withdrawal's have always been timely and without problems. They have always been responsive and addressed every single issue, big or small. As a result i'll give them the benefit of the doubt. There's a reason people use them, especially US clients as our options are very limited. The current minuscule list of regulated brokers in the US i would not regard as any better. I also never keep all my eggs in one basket. I currently...
A friend of mine was trading at TW when the BTC bull stated raging and he requested that they withdraw his entire account. They complied, but they also sent the BTC transaction (they do it by hand because they aren't setup with a BTC vendor) with a ridiculously low TX fee, so low that it would never confirm on the block. They claimed this was unintentional and that their online based wallet had created the fee automatically, but this was a lie because the wallet company they claimed to use could not generate a fee that low with their automatic fee calculation. They wanted to wait weeks until the transaction fell off to resend it again, at which point the value of BTC would have been worth much more and they would have saved a lot of money paying out on that withdrawal.

TW, nope.
  • #33
  • Sep 2, 2017 2:49pm Sep 2, 2017 2:49pm
Quoting Tremulous
{quote} Yeah It's Traderway. I wasn't sure what was going on, so I opted to keep the broker's name a secret, but the cat is out of the bag. Here is an example that just happened. Do note that the top one is running Heiken Ashi candles, but you would still see a spike even with HA candles. {image}
Traderway is NOT an ECN broker, just so you know. They are a market maker broker just like the rest of them. They MAY hedge to stay "risk neutral" but if they don't, they trade against you and profit at your expense, hence the huge spikes on the charts. That's probably their stop-hunting trades. LOL

So if you have lots of money to burn like that guy from Narcos and wants to burn the money without using fire, then you can stay with them otherwise I suggest you change broker. You will NOT be able to make money with them.
Make your losses in demo. Earn your profits live.
  • #34
  • Sep 2, 2017 3:30pm Sep 2, 2017 3:30pm
Quoting ltrain
Yes, when I first started with Tradersway this was an issue for me as well. However I can think of Several reasons why I would want to keep my address low profile. What mattered to me in the end was how responsive the customer service is. If I ever ran into trouble with TradersWay I know I can find them. So I made the decision to sign up with Tradersway. I have 5 brokers which Three of them I selected based on reviews, including Tradersway. The unwillingness to give an address is not a problem for me knowing how horrible some governments can be....
You will see how responsive their customer service is when you want to withdraw all your money from them or when they decide to skip town.
Make your losses in demo. Earn your profits live.
  • #35
  • Sep 2, 2017 3:59pm Sep 2, 2017 3:59pm
Quoting Forexia
{quote} Traderway is NOT an ECN broker, just so you know. They are a market maker broker just like the rest of them. They MAY hedge to stay "risk neutral" but if they don't, they trade against you and profit at your expense, hence the huge spikes on the charts. That's probably their stop-hunting trades. LOL So if you have lots of money to burn like that guy from Narcos and wants to burn the money without using fire, then you can stay with them otherwise I suggest you change broker. You will NOT be able to make money with them.
I have no loyalties with any broker, but i can personally attest that I have made money with them (over the past 2+ years) and have had many successful withdrawals.
Trade with confidence, trade without fear.
  • #36
  • Sep 2, 2017 4:21pm Sep 2, 2017 4:21pm
Quoting Forexia
{quote} Traderway is NOT an ECN broker, just so you know. They are a market maker broker just like the rest of them. They MAY hedge to stay "risk neutral" but if they don't, they trade against you and profit at your expense, hence the huge spikes on the charts. That's probably their stop-hunting trades. LOL So if you have lots of money to burn like that guy from Narcos and wants to burn the money without using fire, then you can stay with them otherwise I suggest you change broker. You will NOT be able to make money with them.
with all due respect :

have you traded live with them and have you already made any withdrawals from them ?

how do you know for sure they're not an ECN broker ?

maybe they run an A Book and a B Book like other brokers do
  • #37
  • Sep 2, 2017 4:32pm Sep 2, 2017 4:32pm
Quoting MXT
{quote} with all due respect : have you traded live with them and have you already made any withdrawals from them ? how do you know for sure they're not an ECN broker ? maybe they run an A Book and a B Book like other brokers do
Regardless of this argument the fact that they blame this glitch on a LP means they are using an exclusive LP only to TW which is either TW outright or a sister company acting as an LP. Either way they fucked up royally and showed their true colors. The only reason to recommend TW at this point is if you're getting paid to do so.
  • #38
  • Sep 2, 2017 5:01pm Sep 2, 2017 5:01pm
Quoting Nicholishen
{quote} Regardless of this argument the fact that they blame this glitch on a LP means they are using an exclusive LP only to TW which is either TW outright or a sister company acting as an LP. Either way they fucked up royally and showed their true colors. The only reason to recommend TW at this point is if you're getting paid to do so.
to be honest , it smells fishy to me too and it could be just the way you put it : a sister company or their own bucket desk acting as LP

but i don't wanna jump the gun and jump to hasty conclusions and judgements as i have no experience with them

i hope for them they are as legitimate as they claim to be , if they are not , well then they would be just another bucket shop biting the dust
  • #39
  • Sep 3, 2017 12:32am Sep 3, 2017 12:32am
Quoting MXT
{quote} with all due respect : have you traded live with them and have you already made any withdrawals from them ? how do you know for sure they're not an ECN broker ? maybe they run an A Book and a B Book like other brokers do
That's what I said: MAYBE they hedge to remain "risk neutral" but from what they offer, I am doubtful that they even hedge. And running an A & B book does NOT qualify as ECN broker. Just because they say they offer "ECN" accounts on cTrader does NOT mean they are ECN. LOL

I am NOT going to risk my money trading with them when I KNOW I won't get it back. Here is what Tradersway states how they protect your funds on their website:

"We provide maximum transparency and security when it comes to our clients’ activities and our own activities. We encourage and widely practise the highest international standards of safety and security. And last but not least, we believe that only a fair and decent relationship with clients, partners and other parties can result in a long-lasting and profitable business. We utilize this approach in all our policies, procedures and day-to-day activities."

They provide "maximum transparency and security" and yet they don't even provide their physical address anywhere on their website, just their email addresses, phone number but no mailing address. You don't even know in which country they are located. I won't even know where my money is going once I sent it. You think I would want to waste my money trading with them? LOL
Make your losses in demo. Earn your profits live.
  • #40
  • Sep 3, 2017 12:40am Sep 3, 2017 12:40am
Quoting Nicholishen
{quote} Regardless of this argument the fact that they blame this glitch on a LP means they are using an exclusive LP only to TW which is either TW outright or a sister company acting as an LP. Either way they fucked up royally and showed their true colors. The only reason to recommend TW at this point is if you're getting paid to do so.
That exclusive LP is probably one of their subsidiary or partner company. Other brokers have done it before; it's nothing new. IC Markets in Australia runs the quotes through EToro; they deny any relationship with EToro but they have the same registration with ASIC and the same website desgin so go figure and Tradersway is the same thing here. It's pretty obvious.

Just looking at what they are offering is pretty obvious they are casino broker, deposit bonus, 1:1000 leverage, micro accounts which they stated outright on their website is NOT STP. They are an A-B booking broker at best with a VERY aggressive B-book.
Make your losses in demo. Earn your profits live.
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