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Tradersway playing tricks

  • #1
  • First Post: Apr 3, 2015 8:48am Apr 3, 2015 8:48am
This chart shows the distance of a trade taken and where it was closed. I took a long on the morning of April 1st on eurusd before the USD ADP release. From the bottom of where it was set, I had set a break even of +1.5 pips. I leave and come back and the trade has randomly been closed at where it is marked which is about + 7 pips or so but price came nowhere near 1.5 pips away as you can see. Keep in mind, this isn't even the minute before a news event, it was still about 13 minutes away..

I think it's important that this is pointed out.

Attached Image (click to enlarge)
Click to Enlarge Name: trade.png Size: 9 KB
  • #2
  • Apr 3, 2015 11:20am Apr 3, 2015 11:20am
Quoting justin7
This chart shows the distance of a trade taken and where it was closed. I took a long on the morning of April 1st on eurusd before the USD ADP release. From the bottom of where it was set, I had set a break even of +1.5 pips. I leave and come back and the trade has randomly been closed at where it is marked which is about + 7 pips or so but price came nowhere near 1.5 pips away as you can see. Keep in mind, this isn't even the minute before a news event, it was still about 13 minutes away.. I think it's important that this is pointed out. {image}...
1. First they are unregulated so I wouldnt put it past them to manipulate feed.

2. It was likely a spread spike that pushed the ask down to your SL while the Bid stayed where it was on the chart. Remember when you are looking at candles you are looking at either the bid or the ask. So if your candles are formed with the ask price, it will not show any spikes in the bid price.
  • #3
  • Apr 3, 2015 1:59pm Apr 3, 2015 1:59pm
Quoting Sis.yphus
{quote} 1. First they are unregulated so I wouldnt put it past them to manipulate feed. 2. It was likely a spread spike that pushed the ask down to your SL while the Bid stayed where it was on the chart. Remember when you are looking at candles you are looking at either the bid or the ask. So if your candles are formed with the ask price, it will not show any spikes in the bid price.
I understand that random spread spikes happen but during a time when the market is quiet? It wasn't even close to the time of the news which I understand it happens during.
  • #4
  • Apr 4, 2015 7:25pm Apr 4, 2015 7:25pm
Quoting Sis.yphus
{quote} 1. First they are unregulated so I wouldnt put it past them to manipulate feed. 2. It was likely a spread spike that pushed the ask down to your SL while the Bid stayed where it was on the chart. Remember when you are looking at candles you are looking at either the bid or the ask. So if your candles are formed with the ask price, it will not show any spikes in the bid price.
and sadly I've even heard stories from regulated brokers as well..
  • #5
  • Apr 4, 2015 7:27pm Apr 4, 2015 7:27pm
Quoting justin7
{quote} and sadly I've even heard stories from regulated brokers as well..
This is true. The difference is the unregulated broker cant be prosecuted for their wrong doings while the regulated one can. Unfortunately the punishment is usually a light smack on the wrist...
  • #6
  • Apr 4, 2015 9:22pm Apr 4, 2015 9:22pm
Quoting Sis.yphus
{quote} This is true. The difference is the unregulated broker cant be prosecuted for their wrong doings while the regulated one can. Unfortunately the punishment is usually a light smack on the wrist...
Yes. Well I just wanted to bring this up because I always thought TW was fine and they never played any tricks like THIS before.
  • #7
  • Apr 6, 2015 6:09am Apr 6, 2015 6:09am
Quoting justin7
This chart shows the distance of a trade taken and where it was closed. I took a long on the morning of April 1st on eurusd before the USD ADP release. From the bottom of where it was set, I had set a break even of +1.5 pips. I leave and come back and the trade has randomly been closed at where it is marked which is about + 7 pips or so but price came nowhere near 1.5 pips away as you can see. Keep in mind, this isn't even the minute before a news event, it was still about 13 minutes away.. I think it's important that this is pointed out. {image}...

I use Traders Way. I 100% believe them to be true DMA/ECN. For the past 5 years, I have only used ECN brokers, so I can identify if they are or not rather quickly. Send me a pm and I'll provide you an e-mail address of my account rep as I am sure there is a logical explanation.
  • #8
  • Apr 6, 2015 12:35pm Apr 6, 2015 12:35pm
I have personally spoken with Joe Carney, he is very interested in working with you on this issue. He would like to take a closer look at the account.
  • #9
  • Apr 6, 2015 12:58pm Apr 6, 2015 12:58pm
ECN broker? This doesn't sound like an ECN broker...... from their Client Agreement Page 7.

"Any transactions entered into and made with the Company shall be concluded with the Company as a MARKET MAKER except for the Companys external market transactions. The Customer acknowledges, understands and agrees that the Company shall not act as a broker, intermediary, agent, and advisor or in any fiduciary capacity"

"The Company or its affiliates may, at a future date, establish a trade matching system or determine to route Customers orders to a trade matching system operated by third parties"

I could be wrong though
  • #10
  • Apr 6, 2015 1:30pm Apr 6, 2015 1:30pm
Quoting mitch77
ECN broker? This doesn't sound like an ECN broker...... from their Client Agreement Page 7. "Any transactions entered into and made with the Company shall be concluded with the Company as a MARKET MAKER except for the Companys external market transactions. The Customer acknowledges, understands and agrees that the Company shall not act as a broker, intermediary, agent, and advisor or in any fiduciary capacity" "The Company or its affiliates may, at a future date, establish a trade matching system or determine to route Customers orders to a trade...
Hi Mitch, it was very nice of you to stop ignoring me just to comment on my post. I communicate with this company just about every day. Here is their response:

Yes, we used to act as a market maker for some of our Micro Account transactions and so we had to legally put that clause in the agreement. We have moved completely away from that business model (and phased out our micro accounts over a period of 5 months).
[2:12:39 PM] Joe Carney: The trade matching system part (second quote) relates to our right to match trades in house if we decided to in the future, so that we can save money on transaction costs and not send all of them to the liquidity providers
[2:12:42 PM] Joe Carney: For example
[2:13:34 PM] Joe Carney: Suppose two people trade EURUSD at the same time, one of them shorts 0.50 lots and one of them buys 1.00 lots. Currently, we send each trade separately to our liquidity pool who charges us a volume based rate (in the same fashion we charge you a volume based rate on our ECN account).
[2:13:45 PM] Joe Carney: Thus, we pay the liquidity providers for 1.50 lots of volume.
[2:14:22 PM] Joe Carney: However, another way to handle this -- and a more efficient way at that -- would be to only push 0.50 lots long through to the liquidity providers
[2:14:37 PM] Joe Carney: as one client was 0.50 lots short and the other was 1.00 long
[2:14:56 PM] Joe Carney: We could offset that 0.50 short to cover half of the 1.00 long transaction
[2:15:00 PM] Joe Carney: The net would be 0.50 long
[2:15:19 PM] Joe Carney: And we could pocket all of the commissions on the 1.00 lots we did not send to the liquidity providers.
[2:16:02 PM] Joe Carney: However, in order to do this properly, it takes a lot of effort and infrastructure. We never got around to it and therefore just send everything through to the liquidity pool for now.
[2:16:47 PM] Joe Carney: Our focus has been elsewhere -- to getting the Binary Options going, to working on payment processing, to increasing our liquidity pool (we got one more liquidity provider recently who processes oil, which is why our spread was lowered from $1 to $0.60)
[2:17:18 PM] Joe Carney: Thus, yes, we do have that clause in there, but the micro accounts were only entirely closed down a little over a month ago.
  • #11
  • Sep 28, 2016 5:04pm Sep 28, 2016 5:04pm
Have a look at this post. Tradersway is fraud!

http://www.forexfactory.com/showthread.php?t=608817
  • #12
  • Mar 16, 2018 1:01am Mar 16, 2018 1:01am
I need serious help here. Tradersway seems not to care at at all for the past two weeks now. I made a deposit two weeks ago via bank wire. Money has been debited in my account n corresponding bank in the UK and tradersway account been credited. I have sent countless messages and they seem not to care. 10k deposit made. I saw this post and I taught this Joe Carney can assist me cos really confused. Thanks
  • #13
  • Mar 16, 2018 8:14am Mar 16, 2018 8:14am
Quoting clientsucces
I need serious help here. Tradersway seems not to care at at all for the past two weeks now. I made a deposit two weeks ago via bank wire. Money has been debited in my account n corresponding bank in the UK and tradersway account been credited. I have sent countless messages and they seem not to care. 10k deposit made. I saw this post and I taught this Joe Carney can assist me cos really confused. Thanks
did you try there chat, i been with them for 2yrs and only had a problem here and there but they always gave me a clear answer
  • #14
  • Edited 8:51pm Mar 16, 2018 4:13pm | Edited 8:51pm
thanks for your reply bro. its been three weeks for just a bank wire after my bank processed funds. i am extremely pissed bro. i have the receipt and swift report with me and the funny thing is that tradersway is not replying my messages past one week. this is not normal bro. can u assist me with an insiders number or any account manager or Joe Carneys number cos am really confused. my email { email address deleted by staff }
  • #15
  • Apr 4, 2019 7:30am Apr 4, 2019 7:30am
Started trading live with Tradersway a week ago, and thought I would complain for awhile.

Servers went down night before last when the yen got volatile, I wasn't happy about being cut off from my trades. Now they're still wonky. Press the button to close a trade and you get a popup that says, (I think) "Please wait while our 1982 IBM PC executes your trade, 10 seconds after the price you wanted is long gone." Even moving a S/L or T/P line takes literally 15 seconds after I drag it.

Swap amount is ridiculous. USDJPY 0.3 lots opened day before yesterday has a $13.99 swap charge on it. Is that normal or are they raping me? Between spread, commission, and swap, it's tearing me up. Especially as slow as that thing is moving.

They don't offer a netted MT4 account. So you can't scale out of a trade with limit orders ahead of time; if you want to close half of a buy trade with a limit sell, it doesn't close half, it opens a sell.

I that's all, I think, but that's a lot in one week.

US client, I don't have many choices. Trading demo on Oanda and I hit the margin limit way before i've done what i need to.
  • #16
  • Apr 4, 2019 7:34am Apr 4, 2019 7:34am
Quoting clientsucces
thanks for your reply bro. its been three weeks for just a bank wire after my bank processed funds. i am extremely pissed bro. i have the receipt and swift report with me and the funny thing is that tradersway is not replying my messages past one week. this is not normal bro. can u assist me with an insiders number or any account manager or Joe Carneys number cos am really confused. my email { email address deleted by staff }

Wow, that's a concern. Plus, they charge $150 to wire to your bank. I asked about this and they said they can't lower it because that's what they pay. Fair enough.

I plan to look at bitcoin to do withdrawals, but I don't know how to do that yet.
  • #17
  • Apr 4, 2019 7:46am Apr 4, 2019 7:46am
Quoting blueruby
.... US client, I don't have many choices. Trading demo on Oanda and I hit the margin limit way before i've done what i need to.
Establish residency outside USA and then you can open account with much more proper brokers.

Quoting blueruby
{quote} Wow, that's a concern. Plus, they charge $150 to wire to your bank. I asked about this and they said they can't lower it because that's what they pay.
Are you sure it is $150 USD (one hundred and fifty US dollars) for each wire transfer? That's criminal.
  • #18
  • Apr 4, 2019 10:42am Apr 4, 2019 10:42am
Quoting forevermaat
{quote} Are you sure it is $150 USD (one hundred and fifty US dollars) for each wire transfer? That's criminal.
Absolutely it's $150 for each wire transfer out of the account.

I'm going to complain some more. I just hit a close order on the X, and it took a solid minute to execute. I'd say. Maybe it seemed longer than it was, but it was a very long time... I'm sure it was a minute or very close.
  • #19
  • Apr 4, 2019 11:41am Apr 4, 2019 11:41am
Quoting blueruby
{quote} Absolutely it's $150 for each wire transfer out of the account. I'm going to complain some more. I just hit a close order on the X, and it took a solid minute to execute. I'd say. Maybe it seemed longer than it was, but it was a very long time... I'm sure it was a minute or very close.
Can you post screenshot of your journal tab? Expand the tab so it shows the open/close request and when it was filled. Make sure the full timestamps are visible Or post the journal log text.

Intentional order delays? It reminds me of some video I saw several months ago:
Inserted Video



You might want to seriously consider stop trading with the offending broker and withdraw what's left immediately. And you should be screen recording your trading sessions.
  • #20
  • Apr 8, 2019 9:06am Apr 8, 2019 9:06am
Quoting blueruby
{quote} Absolutely it's $150 for each wire transfer out of the account. I'm going to complain some more. I just hit a close order on the X, and it took a solid minute to execute. I'd say. Maybe it seemed longer than it was, but it was a very long time... I'm sure it was a minute or very close.
US trader here as well.

What account type are you using? I'm using the MT4.ECN one and my trades are executed almost instantly. My latency to their servers is about 90ms.
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