Tom Oswald, Dorset, United Kingdom
Rating:
Date of Post: 2014-08-12
Review: We had a trade yesterday on the USD/NOK which netted a total of over 300 points on about 10 trades. Our entry price at the time had been 6.24150, the trades went through fine, closed out and the profit was banked and shown on my balance. A couple of hours later i went into the platform to look at the market and noticed my profit had all but disappeared, from a $1,000 plus profit down to $297. After some serious emails to them it turned out that they had decided to change the entry price later in the day AFTER the deals had been closed and banked reducing my profit by over $700. There reason; Our MT4 platform prices aren't always accurate and we can change them as we see fit

Do not use this broker

Comment: Added by Max Pross on 2014-08-21 06:13
The client is trading on news. Client's orders were filled with the requested prices, not execution prices, due to MT4 mistake. We explained this to the client in the following email: "Due to big market movements spreads were widened substantially by liquidity providers at the moment when your orders were sent for execution. Moreover, a huge number of clients’ deals were sent for execution simultaneously. As the result, the deals were filled by liquidity providers at the market price of 6.2110. While the deals beforehand were quoted by MT4 at the prices requested by clients at the moment when the orders were sent for execution. These requested prices differed from the real market execution price. According to our Term&Conditions in such situation we could cancel the deals. However, there was made a decision to save the deals, correcting them correspondingly. "

The client said "I hope you have a damn good PR department to deal with the social media nightmare i am going to create for you."

Somehow, the client is still trading with us, seems he still likes our services and conditions. But at the same time he is creating this media nightmare.

Alex Omarov, Miami, USA
Rating:
Date of Post: 2014-09-17
Review: Just want to report this Broker: Traders Way. A BIG Scam !
We have a team of 6 traders, opened over 10 accounts with TW.
All account were making profits and TW cancelled all transactions!
Reason: hardware failure and lost connection with liquidity providers ! ?
I have all supporting emails from “support” and Journals from MT4, from all team members to show for anyone interested.

After all charging $95 +$20 for withdrawing money back to account ! and took a week !
Just check a site of FPA about Traders Way and looks we are not only one having problems and cancelled transaction.

Brokers Comment on other review: Trading on News ? )
it's Illegal now to trade on news ?

Comment: Added by Max Pross on 2014-09-22 12:53
We have looked at the transactions on your account and found that they were placed when there was a delay in our price feeds. During that time, we experienced intermittent delayed feeds from one of our liquidity providers. Therefore, in order to rectify the problem we had to cancel trades placed within this period in accordance with our Terms and Conditions. Based on the transaction history in your account, you are using a high frequency trading system. The very best conditions for these types of systems are during times delayed broker feeds thus providing for latency arbitrage opportunities; this is why your account was performing so well during this period of time. We apologize for the inconvenience caused.

Regarding your comment about news trading -- we do allow trading on news. The previous situation had to do with slippage during a time of quick market movement.