Tradersway will steal your money

Post by **dap711** » Fri Mar 24, 2017 9:05 pm

I've been with Tradersway for almost 2 years. To the most part, it had been a good experience until yesterday. I was developing an EA with the EA running in demo and on my live account when I noticed a huge difference in the way the EA was behaving on either system. After a closer look I discovered that the live account was missing ticks! Check this out ..

Here is the screen shot of the demo account (notice the circled bars) :

Demo.png

Here is the screen shot of my live account:

Live.png

I couldn't believe the difference! and this was a 4 hour bar! I contacted support to find out what was going on and this was their response:

Hello,

Our live account is correct. If you find any discrepancies between demo & live - the live data feed prevails as it is what is connected to our liquidity providers. We do not connect our demo accounts to any liquidity -- it simply pulls its quotes from the live server.

Regards,

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

TW Corp.
Twitter @TradersWay | http://www.TradersWay.com

Okay .. I said to myself, if they pull from that same live feed, why are they so different? I went and looked at the DailyFX live chart:

Daily FX Live chart.png

A 2 old kid can see that the bars on demo account exactly matches DailyFX ... hmmm .. I think a refund is in order as my EA took the wrong positions because the bar was wrong. I submitted my request for the lost funds providing them the screen shots shown here and this was their response:

In the last two emails you raised several issues so we will try to answer you all of those, one by one:
• "if the live chart is reporting incorrect data" - Our live chart were not reporting incorrect data. Our live charts are reporting 100% correct data feed.
• "orders may have been enter at the correct price, but because the data was corrupted" - Data was not corrupted and orders are executed at correct prices, which you admitted here.
• "Are you trying to tell me the prices shown on my chart were correct?" - Exactly, prices on our live account charts are/were correct.

I was laughing at first because it was over $20 in trade that was lost .. but now they are treating me like an idiot. "The prices on the live chart are correct?!?" REALLY! Please explain to me why the bars on my live account are so different from the demo account .. here is the response:

From: Trader's Way [mailto:sales.en@tradersway.com]
Sent: Wednesday, March 22, 2017 3:19 PM
To: Dwain Pattillo
Subject: RE: Fw: RE: RE: RE: Difference between Live accounts charts and Demo charts

Hello,

Empty4 is written by MetaQuotes. Metaquotes has its own price servers that it sends to Empty4 and displays in the history for a variety of reasons.

There is no issue at all - your account is fine. Any Empty4 software may have price historical data from MetaQuotes. We informed you of a way to delete the chart history and download anew.

Regards,

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

TW Corp.
Twitter @TradersWay | http://www.TradersWay.com

LOL ... THEY ARE BLAMING METAQUOTES!!! These people are the idiots! The only server my live account talks to is theirs!! So I explain to them that I have dumped the communications log from my server and the only IP address in it is theirs. (this is 6 hours after the incident occurred). Here is the response:

In case that there is any discrepancy between charts on demo and live accounts, the only relevant chart is the one for live account, connected to our live trade server.
We confirm that all orders on your live account XXXXX are executed at 100% correct market prices and therefore you are not eligible for a refund.
Since forex is OTC market, different brokers have different liquidity providers. Therefore, it is not possible to compare charts generated in Trader's Way Empty4 platform vs. charts of other brokers or charting service providers, like the one which can be seen in your screenshot.

The emails continued ..

Dear Client,
Information on charts is for indication purposes only, your deals are sent to the market and executed at the best available market price that can differ from prices on charts.
Forex in non-centralized market, each broker has its own price feed that can and usually do differ from other brokers.
And charts on demo and live can also differ, these are different servers with different data feed.
Best regards,
Dealing Department
TradersWay
tel/fax: +1 849 937-0815
dealing@tradersway.com
http://www.tradersway.com

Here is the last email I sent to them ..

I’m sorry that your mother dropped you on your head when you were a baby, because that is the stupidest thing I have ever heard. They have good doctors that can help you with that …

I wonder what the FOREX web community is going think about that reply .. You are saying .. we can give you the wrong information to base your decisions on, but you are reliable for the outcomes. I’m thinking you should except responsibility for being in the wrong, but we are back to the dropping you on your head thing ..

No response needed .. but I’m sure we’ll talk again in the forum’s.

I give up and they have lost a good client .. I just wish I had gotten them to admit the data feed was wrong. Oh well .. I fought a good fight ..

Save yourself the hassle and do NOT do business with them. I believe the charts were different because they have figured out another way to steal from us .. and when caught red-handed in the cookie jar .. they say NO .. NO it wasn't us!!! You have been warned about them ... good luck and wish you all prosperity!

Dwain

PS .. sorry for the long post

Post by **Lowphat** » Fri Mar 24, 2017 11:29 pm

if other live users had different bars than yours then i would call shenanigans but that don't seem to be the case.
so its a "retail forex" company in "Dominica" with little or "no regulation" using "Empty4"/5 and your only complaint is demo data is different from the live. that is about the highest praise i have seen for a retail forex company

Post by **SteveHopwood** » Fri Mar 24, 2017 11:59 pm

Yet another example of a US citizen being screwed because he cannot open an account with Global Prime.

You need to persuade President Orange to do something about your ridiculous FX trading rules. You are stuffed until you do.

Lots of sympathy for you. Just bugger all I can do.

Post by **renexxxx** » Sat Mar 25, 2017 5:45 am

Not sure if I fully understand the reason for your refund request.

You are having the same EA running on a demo and on a live account. The price feed on demo is (vastly) different from the price feed on the live server. The EA is making trading decisions based on the price feed it is connected to. So, it would be reasonable to expect that the EA running on the demo server is making different trading decisions from the EA running on the live server. Tradersway suggests that the price feed on the demo server is irrelevant: only the price feed on the live server matters. So, whatever trading decisions the EA on the demo server is (and has been) making should be ignored -- and certainly should not be compared to the trading decisions on the live server.

Don't get me wrong: I'm on your side and sympathetic to your loss. I just can't see how Tradersway is to blame for your loss, unless -- maybe -- you have back tested and forward tested your EA on demo and tuned its parameters such that it produces a profit on the "fake" demo price feed.

Global Prime's demo price feed is identical to the live price feed. Also, Global Prime's trade execution is best of class -- still, even on GP trade execution on demo is slightly different from trade execution on a live server. So, even on GP, you might get (slightly) different trade results when running the same EA on demo and live. IMHO this is not a reason for a refund request, as you just can't compare the two.

Post by **dap711** » Sat Mar 25, 2017 4:08 pm

I think you may have missed the screen shots .. The chart on the demo account and the chart on DailyFX match EXACTLY, it's the live chart that is extremely different. Which tells me the live feed was incorrect.

Also, I understand forward testing does not reflect actual live trading and there will be differences .. but when I have one EA opening longs and the other opening shorts .. I'm going to have a closer look to see why!

Dwain

Post by **dap711** » Sat Mar 25, 2017 4:18 pm

Lowphat » Fri Mar 24, 2017 5:29 pm wrote:if other live users had different bars than yours then i would call shenanigans but that don't seem to be the case.
so its a "retail forex" company in "Dominica" with little or "no regulation" using "Empty4"/5 and your only complaint is demo data is different from the live. that is about the highest praise i have seen for a retail forex company

No .. my complaint is .. their demo data matches DailyFX and their live data is different!!! LOL take another look at the screen shots. That is about the worst thing someone could see when comparing charts from different servers. It is the biggest RED FLAG someone could see!

Post by **dap711** » Sat Mar 25, 2017 4:23 pm

SteveHopwood » Fri Mar 24, 2017 5:59 pm wrote:Yet another example of a US citizen being screwed because he cannot open an account with Global Prime.

You need to persuade President Orange to do something about your ridiculous FX trading rules. You are stuffed until you do.

Lots of sympathy for you. Just bugger all I can do.

Thanks Steve .. I have written my congressman about the rules .. with no reply from him.

And I do wish I could open an account with GP. Maybe someday ..

jal811 · Post by **jal811** » Sat Mar 25, 2017 5:52 pm

dap711,

Empathise with your viewpoint.

But as someone who has worked at a liquidity provider, I suggest that you re-read what lowphat and renexxxx have written. Both are providing insights of how things really work/are. . . .

Cheers

Post by **dap711** » Sun Mar 26, 2017 2:36 am

jal811 » Sat Mar 25, 2017 11:52 am wrote:dap711,

Empathise with your viewpoint.

But as someone who has worked at a liquidity provider, I suggest that you re-read what lowphat and renexxxx have written. Both are providing insights of how things really work/are. . . .

Cheers

Thank you for your insight .. as an ex-liquidity provider, maybe you could explain to me why these 2 live feeds are so different? I really want to be wrong .. and I would definitely publicly apologize to Tradersway if someone could explain to me why the red 4 hour bar before the last green bar is so different. You see it really has nothing to do with the demo feed .. the demo feed just made me may me look closer.

Dwain

DailyFX live feed

Daily FX Live chart zoom.png

Tradersway live feed

Live.png

DavidB · Post by **DavidB** » Sun Mar 26, 2017 10:15 pm

I agree that is an abnormal gap between red bar close and green bar open, especially on a H4 chart. It seems to me that TradersWay have lost their connection to their liquidity provider for some time, and have acted as market maker to keep their trade services running and minimize claims. As the FX market is an OTC market, the easy excuse is always: "our live feed was correct" which is not a complete lie as it was the price in the local TradersWay liquidity pool at the moment, but it had no relation to the market.