PWRTRADE Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-11-20 14:55

Abstract：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.

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

PWRTRADE Review Summary
Founded	2015
Registered Country/Region	Marshall Islands
Regulation	Unregulated
Market Instruments	Binary options, indices, equities, commodities, and currency pairs
Demo Account	❌
Leverage	/
Spread	/
Trading Platform	Web
Min Deposit	$250
Customer Support	Tel: +44-203-936-4040
Customer Support	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.

Pros and Cons

Pros	Cons
Various trading markets	Inaccessible 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).

　　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.

　　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 Type	Min Deposit	Bonus	Features
Bronze	$250	/	/
Silver	$2,000	50%	5 risk-free trades of $100 each
Gold	$10,000	75%	5 risk-free trades of $1,000 each
Platinum	25,000	100%	/
Diamond	$50,000	100%	/

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 Platform	Supported	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.