Read our Way2trade review carefully to see why we do NOT recommend this broker for trading. Just to clear doubts, this is a waytotrade.com review.
Who are they?
After taking a look at their website, it shows that they do not fall under any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you NOT to invest with them. And they also work with websites that offer “Automated trading software” which is another red flag, as this kind of websites are notoriously famous for scamming schemes.
So Way2trade is just another unregulated forex broker, which means the customers are not protected, and there is highly likely they will get away with your hard earned money and there will be no regulating agency to hold them responsible.
How does it work?
Usually unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit, while trying any conceivable method in order to make that happen. They will offer deals that sound too good to be true, like we will double your initial deposit or you will make $100 per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, people get transferred to a smarter scammer, called a “retention agent”, who will try to get more money out of you.
Withdrawing funds
You should submit a withdrawal request ASAP, because your funds are never safe with an unregulated broker. And here is when things get tricky.
If you want to withdraw your money and it does not matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It does not matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.
How to get your money back?
If you already deposited your money with them and they refuse to give your money back, which is very likely to happen, don’t worry, it might be a way or two to get your money back.
First of all you need to keep the emails as a proof that you have been requesting the money back from them but they don’t give it to you, or they delay the process for too long, with the intention of not refunding your money.
The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how you were deceived into depositing for a trading company that is not regulated and they refuse to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact us at [email protected] but do not let your broker know they you read this article or that you are in contact with us.
What about wires?
If you sent them a wire, there is no way to perform a chargeback on a wire. For this step you need to raise the fight to a different level. Tell them that you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies. Depending on the country where you live, you can search on google to find the regulating agency for Forex brokers in that country. After that you can prepare a letter or an email describing how you got deceived from them. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don’t refund your money. If you do not know where to start, reach for us at [email protected] and we will help you with this step as well.
Make sure you leave reviews about Way2trade in other sites
Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites, and describe shortly what happened. If you fallen victim please leave a review and a comment on this site at the comment section.
Way2trade Review Conclusions
Making the Way2trade review is actually a pleasure for us, and we hope to save as many people as possible from losing their hard earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter, before you perform any transaction. We hope that our Way2trade review has been helpful to you. If you have any questions or you need an advice about the withdrawing process, feel free to contact us at [email protected] or by using this contact form.
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
Thanks for getting info out there. I was one of those stupid people who signed up. Also note they want 3 forms of identity to sign up so now it’s identity theft also. I did get all my money back but only with my promise of investing a lot of money if I knew I could easily get my money withdrawn which they did and then I never let them contact me again. Remember not to put your identity info out there – I now constantly worry about what they are doing with my licence and cancelled bank info
Looks like they have shut up shop now and I have lost my money. I will go to the bank this afternoon to see what they can do. This all started for me this time last year.
To David Vincent.
This happened to me also, and a close friend, they just sucked the money out in the thousands each day with a code Frorbidden 403 in red each and every time you tried to withdraw. Now you can not even google their slimy web page. Oh My God. We started this time last year too, and built the funds up and up over time and when what we thought that trust was gained. They didn’t push for more money. Gently let you make your own mind and weren’t pushy like had once before. I was still getting emails from another hollywood name claiming to be senior trading analyst apologising for “JoJo Rothschilds” absence due to covid. Funny how Sean Carr also had Covid and their wives. What an escape card. These people and people like them which are in the millions it seems, are pure scum of the earth. Its not over yet!
Jojo Rothchilds is complete scum .
His current email is [email protected]. I joined in July 2020 with $250 usd a few months later all looked good and made a $50 withdrawal to make sure I could get money out if I needed to. It was in my account In 5 working days.Fast forward to May 2021 I recently deposited$2000 with way to trade which soon arrived in my account . Around 15th May 2021 my bank contacted me and advised that the account I deposited into seemed suspicious and had been closed suddenly. When I advised the bank what the payment for they were sure I’d been scammed. I’ve tried to withdraw my money but no luck although my account is still open and advised that the payment is pending and of course no email response from Jojo.
Not looking good . Stay away from Way to trade!
I too have fallen for way2trade scam
First it was what Dick Smith revealed on national tv ‘The Project,a news show in Aus ad on FB. Initial 250usd deposit march 2020 was Audrey Lipki [email protected] then enter Sean Carr [email protected] took over my account and began grooming me and got me to invest approx 15 k usd and after around 6 months mysteriously dissapeared with covid, then enter JoJo Rothschild [email protected]
There platform showed very good returns mainly on crypto and BTC and he groomed me further for another 10k usd
He will not return any emails and the ph number rings out. Strangely my account is still open and still has a goodvdeal of $ in it but I am powerless to close any trades or make any withdrawals and they seem to be doing there best to loose all the profits which was generated over the last 14 months or so my account is showing 9 trades open but cannot close any of them.
Fortunately I’ve had various authorities tracking them since feburary as they dissolved the mother company Waytocx Limited in dec 2020 .
I feel for anyone that fell for this organised scam
To David Vincent
My husband had a software consultancy business called WaytoCX, it seems that Waytotrade has somewhere claimed to be part of this business, they were not. We have received a letter from the firm of solicitors representing you demanding your money be returned. WaytoCX never had any association with Waytotrade, we were not ever aware of their existence until we heard from your solicitor. WaytoCX was a two person organisation trying to sell customer experience software for a Indian computer company. I’m sorry that you and so many people have been scammed, I’m leaving reviews on every site I can find to warn others about this company.
TOTAL SCAM!!!!!!
SCAM!!!!!!SCAM!!!!!SCAM!!!!! Do any of the foregoing contributers think that Seam Carr and Jo Jo Rothschild are genuine names? How convenient to have “contracted” the Covid Virus! The story I got was that “Sean Carr” had returned to the States because of a family bereavement. These individuals are the lowest of the low with no morals whatsoever. May they rot in hell.
Name withheld.
I was caught as well. Same names Sear Carr, Jojo Rothschild etc. Started last May 2020. Wanted more and more money. But when I went to make my first withdrawal – ERROR. No response from emails or phone calls. Money disappeared. GONE. I invested $20,000 US and it grew to over $100,000 US. My account has $2182 US left but I cannot do anything with it. If anyone works out how to get any money back I would appricate you letting me know.
My initial investment was as a response to David Koch – “Koshie” investment add / promotion. So that was who I thought I was dealing with this organiastion. See above September 9th 2021. I have photo’s of screens and emails etc. But no money. I can still log in and have $ 2,182.12.
Fiona
Broadby
BALANCE
$2,182.12
M. MARGIN
$0.00
EQUITY
$2,182.12
AVAILABLE
$ 2,182.12
PROFIT/LOSS
$ 0.00
MARGIN USAGE
0.00 %
So any assistance to get the balance back would be applicated.
Dear John
If you could give me contact details for Mr Coal It would be appreciated.
Thank you for your time and consideration.
[email protected]