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PWRTRADE -

Score

1.53 /10
Danger

PWRTRADE

Marshall Islands

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

https://pwrtrade.co

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Regulatory Index0.00

Business Index7.16

Risk Management Index0.00

Software Index4.00

License Index0.00

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No valid regulatory information, please be aware of the risk

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Warning: Low score, please stay away!
Previous Detection : 2024-12-26
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

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PWRTRADE · Company summary

Note: PWRTRADE's official website: https://pwrtrade.co is currently inaccessible normally.

PWRTRADE Review Summary
Founded2015
Registered Country/RegionMarshall Islands
RegulationUnregulated
Market InstrumentsBinary options, indices, equities, commodities, and currency pairs
Demo Account❌
Leverage/
Spread/
Trading PlatformWeb
Min Deposit$250
Customer SupportTel: +44-203-936-4040
Email: support@pwrtrade.co

PWRTRADE, which was founded in 2015, is a binary option broker based in the Marshall Islands. It is owned by the Bulgarian firm GM Capital. Traders can trade indices, equities, commodities, and currency pairs on major financial markets using PWRtrade's innovative platform.

PWRTRADE's homepage

Pros and Cons

Pros Cons
Various trading marketsInaccessible website
Lack of regulation
Blacklisted by several regulators
Limited info on the trading conditions
No MT4/5
High minimum deposit

Is PWRTRADE Legit?

PWRTRADE is completely unregulated by any institution, and the brokerage has been blacklisted by multiple financial institutions.

The Belgian Financial Services and Markets Authority (FSMA) has warned that PWRTRADE is not an authorized investment company or credit institution in Belgium and that it offers trading in speculative and particularly high-risk trading products (binary options).

FSMA warning

The Bulgarian court has blocked the PWRTRADE website, following a warning from the local Financial Supervision Commission (FSC) that the brokers are not authorized to provide investment services in the country.

Bulgarian court warning
Bulgarian court

The Manitoba Securities Commission in Canada has also blacklisted PWRTRADE, stating that the company is not registered in Manitoba to trade in securities or to provide advice to anyone regarding investing, purchasing, or selling securities.

What Can I Trade on PWRTRADE?

There are more than 120 assets on major financial markets offered by PWRtrade, including binary options, indices, equities, commodities, and currency pairs.

Tradable Instruments Supported
Binary options✔
Forex ✔
Commodities✔
Indices✔
Equities✔
Stocks❌
Cryptocurrencies❌

Account Type

Five different account types are available on PWRtrade.

Account TypeMin DepositBonusFeatures
Bronze$250//
Silver$2,00050%5 risk-free trades of $100 each
Gold$10,00075%5 risk-free trades of $1,000 each
Platinum25,000100%/
Diamond$50,000100%/

Trading Platform

PWRTRADE only offers a web-based trading platform with severely limited functions. Therefore, we recommend you to choose a legal broker that provides a professional and advanced trading platform like MT4 or MT5.

Trading PlatformSupported Available Devices Suitable for
Webtrader✔Web/
MT4❌/Beginners
MT5❌/Experienced traders

Deposit and Withdrawal

PWRTrade accepts payments from MasterCard, VISA, bank wire transfers, and Neteller.

However, the company has some rather unusual withdrawal conditions. For instance, if you accept a trading bonus, you must reach a minimum trading volume of at least 0.2 lots per dollar received in order to withdraw. Considering that 0.2 lots typically equals 20,000 currency units, this requirement can make it essentially impossible to withdraw funds. Therefore, please steer clear of this broker.

User Reviews

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Wendy52114
more than one year
I have been trading with PWRTRADE for about a year now and overall, I had a terrible experience with PWRTRADE. They pressured me to deposit more money than I was comfortable with and then I ended up losing it all because their platform was slow and glitchy. I've had some issues with the platform freezing up during high volatility periods, which has caused me to lose money on some trades. When I tried to withdraw my remaining funds, they made me jump through a bunch of hoops.
I have been trading with PWRTRADE for about a year now and overall, I had a terrible experience with PWRTRADE. They pressured me to deposit more money than I was comfortable with and then I ended up losing it all because their platform was slow and glitchy. I've had some issues with the platform freezing up during high volatility periods, which has caused me to lose money on some trades. When I tried to withdraw my remaining funds, they made me jump through a bunch of hoops.
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2023-04-23 15:27
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taivnaa
more than one year
On the plus side, PWRTRADE offers a decent range of trading instruments and the platform is pretty easy to use. However, their customer service is seriously lacking - it takes forever to get a response and they're not very helpful when they do finally get back to you. And don't even get me started on their withdrawal process - it's a nightmare. Plus, the fees are kinda high compared to other brokers I've used.
On the plus side, PWRTRADE offers a decent range of trading instruments and the platform is pretty easy to use. However, their customer service is seriously lacking - it takes forever to get a response and they're not very helpful when they do finally get back to you. And don't even get me started on their withdrawal process - it's a nightmare. Plus, the fees are kinda high compared to other brokers I've used.
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2023-04-23 15:20
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