TraderPowers Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-10-09 18:30

Abstract：TraderPowers offers forex trading. But it can be listed as a dangerous broker due to unregulated status. Besides, their website is not available.

　　Note: TraderPowers' official website: https://www.traderpowers.com is currently inaccessible normally.

TraderPowers Review Summary
Founded	2022
Registered Country/Region	Saint Vincent and the Grenadines
Regulation	Unregulated
Market Instruments	Stocks, cryptocurrencies, commodities, and forex
Demo Account	❌
Leverage	/
EUR/ USD Spread	/
Trading Platforms	A distribution of MT5
Minimum Deposit	$1,000
Customer Support	Phone and email

　　TraderPowers offers forex trading. But it can be listed as a dangerous broker due to unregulated status. Besides, their website is not available.

Pros and Cons

Pros	Cons
None	Unlicensed broker
	Inaccessible website
	Ridiculous minimum deposit requirement
	No MT5 available

Is TraderPowers Legit?

　　Trader Powers operates without any regulatory oversight, posing a risk to its clients' funds. Furthermore, Trader Powers does not offer a reliable trading platform to its clients, indicating a fundamental failure typical of many offshore brokers.

What Can I Trade on TraderPowers?

　　TraderPowers offers trading in stocks, cryptocurrencies, commodities, and forex.

Tradable Instruments	Supported
Forex	✔
Commodities	✔
Indices	❌
Cryptocurrencies	✔
Stocks	✔
ETFs	❌
Bonds	❌
Mutual Funds	❌

Account Type

　　TraderPowers offers the VIP, Platinum, Gold, Silver and Bronze accounts. They charge high minimum deposits of $250,000, $100,000, $25,000, $10,000 and $1,000 respectively.

Trading Platform

　　TraderPowers has distribution of Metatrader 5 available. However, this is not a distribution that is branded by Trader Powers – it belongs to some Stockton. Therefore, trading on it will have no bearing on your account with Trader Powers.

Deposit and Withdrawal

　　TraderPowers accepts crypto and wire transfers only – both methods are not eligible for a chargeback and thats why brokers like Trader Powers use them.

Customer Service

Contact Options	Details
Phone	+44 203-828-2469 / +1 416-907-9059 / +61 272574019 / +34 930301892
Email	support@traderpowers.com
Online Messaging	❌
Online Chat	❌
Social Media	❌
Supported Language	English
Website Language	English
Physical Address	First floor, first St. Vincent Ltd Building James Street, Kingstown, St. Vincent and the Grenadines

The Bottom Line

　　In a word, traders can avoid trading with TraderPowers. There is a very high minimum deposit. Besides, it does not openly reveal its trading conditions. What's worse, no any regulations currently,