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PWRTrade – review and feedback on forex and CFD broker
вњ… This Trading Platform is available in United States
В Overview of the popular brokers of the global financial market: PWRTarde
One of the most popular methods of competition, which is used not only by participants of the global financial market, but also by representatives of other areas of commercial activity, is “dialogue” on specialized websites, working on the following algorithm:
1.The “expert” in online trading, using (for persuasiveness) several economic terms, says that the “X” exchange are common scams that can’t be trusted with their savings (opening a new topic on a web resource for existing traders or those, who plans to engage in Internet commerce).
2.The “expert” is supported by a second “expert” who supposedly invested a small amount and made sure that the administration of the trading platform deceives its customers.
3.Then a “victim” is connected, which “lost” a huge amount of money set aside for the purchase of an apartment, a car, training a child in a prestigious university, etc.
4.And the next dialogue participants thank their “rescuers” who warned about cynical, heartless scammers, ready to do anything to deceive honest traders.
For many users of the World Wide Web, such “schemes” look very primitive, but how, it’s not strange, they work and help competing brokers lower the rating of other companies engaged in Internet commerce.
This introduction shows how powerful a “weapon” in the fight against competitors is the worldwide network, and information prepared for potential readers can completely distort the real image of almost any representative of business, public life or an online trading company.
For many novice traders, the above information is an unpleasant “surprise”, which greatly complicates the task of choosing a reliable broker that fulfills its promises. How to act in a similar situation?
The most reliable way is to independently check all key performance indicators of the platform from different sources in order to draw your own conclusions based on the information received, whether it is worth working with this broker or better to look for another site. As an example, how to conduct such an analysis, you can use PWRTarde – a broker with a lot of negative feedback, which does not prevent it from working and attracting new customers.
PWRTarde: brief overview of the broker’s activities
Many “experts” in online trading have not even studied the history of the company, which they actively “watered with mud.” In some sources it is stated that the broker is working for less than a year and for the entire period of its existence has not paid its clients a single cent of the earned money. This is an outright lie. For objective evaluation of the platform, it is necessary to study in detail the verified information about the company.
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Security of traders
The management company of this broker was established in Bulgaria in 2020 (during this period of time, the fraudster, in the literal sense, would be torn to pieces, but the platform continues to work and develop). To date, the company has all the necessary registration documents for the Marshall Islands and an office in the business center of London (UK).
The application developed for PWRTarde, the comprehensive SpotOption platform and the constant work of highly qualified specialists in the direction of improving the quality of the provided services are the main guarantees of the security of the financial operations of the users of the trading platform. Despite the lack of licenses, and direct regulation of the service, every trader who has access to the company’s site can conduct trading operations without fear of fraud on the part of the broker represented.
In case of unforeseen situations, technical problems or inconsistency of the received profit to the expected results, users of the resource can contact the representatives of the support service, which will certainly help to solve this issue. For this purpose:
в—Џ telephone communication (with the function “call me back”);
Training users on the resource
Having registered the login on PWRTarde, the client of the company gets access to training materials that will help him to understand the mechanism of the site functioning and additional opportunities for making a profit. But traders should take into account the fact that the demo account does not work on PWRTarde, so they can not ignore the training materials presented, and at the time of the conclusion of the first deals, it is better to limit to the minimum allowable amount. Also, it must be remembered that the resource itself was originally created for representatives of Arab countries, which postponed its imprint on virtually all the functional capabilities of the trading platform in question.
How to trade on PWRTarde
The work of each broker is connected with certain restrictions, conditions and rules. First of all, it concerns the trading account and all financial issues. Compiled by experts on PWRTarde reviews recommend very carefully to study the above issues.
Working on the site, it is necessary to remember the following indicators:
в—Џ minimum deposit / rate – 250/25 dollars;
в—Џ insurance and analytical materials are not available;
в—Џ profitability up to 89%;
в—Џ Currency trading accounts: US dollars, British pounds and euro;
в—Џ bonuses up to 100%.
в—Џ Bronze – a deposit of $ 250;
в—Џ Silver – 1 thousand $;
в—Џ gold – 10 thousand dollars;
в—Џ Platinum – $ 25 thousand;
в—Џ Diamond – $ 50 thousand.
Input / output of funds
In this issue, according to the reviews of the users of the platform, compiled on PWRTarde, the resource is much inferior to its competitors. In fact, potential users have the opportunity to replenish their trading account or withdraw money, only with the help of bank transfer, as well as the debit / credit card of the financial and credit institution (the orientation of the site affects the countries of the Arab world).
All the underlying assets that are presented on the company’s website can be divided into the following groups:
в—Џ stock indices;
в—Џ currency pairs;
Based on the above information, it is difficult to imagine that this broker is an ordinary fraudulent scheme. Some of the nuances of the broker’s work are surprising and misunderstood, but this is due to the fact that the resource was initially focused on Arab countries, which could not but affect the web-resource itself and the methods of its operation.
PWRTrade is an unlicensed Forex CFD broker, that originally started out as a binary options broker in 2020.
They are owned by GN Capital Ltd., located in Marshall Islands, and managed by GN Management EOOD, Alexandar Sramboliski Blvd 130-132, Sofia, Bulgaria. Their phone number is: United Kingdom +44 203 514 3960 and email address is: [email protected], and the new website is at: PWRtrade.co.
If you have withdrawal problems or complaints, you should read this.
PWRTrade uses the latest version of the SpotOption trading platform. They offer the full trading software which includes Ladder and One Touch options, along with Forex trading. They have the PWRFollow social trading feature which allows traders to follow the trades of others. Returns on $EUR/USD binary options is 81%, and the payout on 60 second options is 72%.
Minimum deposit for a new trading account is $250, which is pretty standard. Their website is available in English, German, Russian and Arabic. Minimum trade size is $25, and the maximum trade size is $10,000.
Do not use an automated trading robot until you have read this alert.
You can find popular automated trading software, look here.
Is PWRTrade a Regulated Broker?
The main thing we look for when reviewing a CFD or Forex broker, to determine if they are a legitimate broker or a scam broker is a license. Are they licensed and regulated in Cyprus by CySEC or any of the other government regulator listed here.
PWRTrade is not a licensed broker.
WARNING from ASIC Australia
“ASIC urges all investors considering trading in binary options to check they are dealing with an entity that holds an Australian financial services licence or is authorised by an Australian financial services licensee and regulated by ASIC.”
Is PWRTrade a legitimate Forex broker and not another scam broker? Please share your experience with us in the comments section below.
PWRTrade Review – is it scam or safe?
Trading Accounts and Conditions
PWRTrade claims to offer forex and CFD trading, but various sources suggest that it is in fact a binary options broker. It also seems to offer account management services. The problem is that the website of the broker has not announced any trading specifics, and we could not register an account either.
We have a lot of concerns regarding this broker and don’t recommend investing with it. Read on to get all the details.
We could not think of any positive features of this broker.
Offshore company, notorious address
PWRTrade is allegedly owned and operated by GN Capital Limited, a company registered in the Marshall Islands, but various sources suggest that it in fact runs its operations from Bulgaria.
On exactly the same offshore address (Ajeltake road, Ajeltake Islands, Majuro, Marshall Islands MH96960) are registered a lot of shady brokers we have reviewed, such as AxeCC, PBN Trade, iForex24, CryptoEU, Tradex1, FXG Invest, and more. Judging by the negative comments submitted by people who claim to be clients of some of these brokers, they are all a bunch of scammers, so you’d better stay away from PWRTrade and, actually, all the rest.
A plethora of complaints against PWRTrade
As we mentioned negative feedback, we should also say that we encountered a lot of complaints against PWRTrade in various websites and forums. According to some of the complaints, the broker cancels withdrawals and forces its clients to trade and to deposit more. It seems that many investors lost a lot of money.
Blacklisted by several regulators
Another major red flag regarding PWRTrade is that the broker is blacklisted by several financial authorities.
The Financial Services and Markets Authority (FSMA) in Belgium warned the public that PWRTrade is not an authorized investment firm or credit institution in Belgium and it offers trading in speculative and particularly risky trading products (binary options).
Click on the image to zoom in.
Furthermore, the FSMA advised against responding to any offers of financial services or public offerings of investment instruments made by GN Capital Ltd (PWRTrade) and against transferring money to any account number it might mention.
PWRTrade is also in the list of 40 forex and binary options broker sites that were recently blocked by Bulgarian court after the local Financial Supervision Commission (FSC) warned that these 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 engage in the business of trading securities or advising anyone with respect to investing in, buying, or selling securities.
No info on the trading conditions, platform, etc.
As we mentioned in the beginning, PWRTrade leaves a lot of important questions regarding its pricing and trading conditions unanswered. The broker does not mention the initial deposit it requires, what are its payouts or spreads, nor what platform it uses.
Most forex brokers support the popular MetaTrader 4 and also offer free demo accounts, so that (potential) clients can test their services.
It is not clear whether PWRTrade is a binary options, or forex and CFD broker, what platform it uses, nor what trading conditions it offer. Yet, we know enough to warn you not to sign up with it: PWRTrade is an offshore broker, blacklisted by several financial authorities. On top of that, there are numerous complaints about this broker submitted by investors in various websites and forums.
We always advise our readers to select very carefully their investment intermediary. It is best to choose among brokers regulated by trustworthy regulators, such as the UK’s FCA or Australia’s ASIC. It is also a good idea to check the broker’s name in the web to see whether there are any complaints or warnings against it.
To sum up the above:
|Not any||Offshore company, notorious address|
|A plethora of complaints against PWRTrade|
|Blacklisted by several regulators|
|No info on the trading conditions, platform, etc.|
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