PWRTrade is a Forex and CFDs trading company owned by GN Capital Limited, located in the Marshall Islands. It is operated by GN Management EOOD, based in Bulgaria, and offers a wide variety of assets, including commodities, stocks, and currency pairs. The company uses the popular SpotOption trading platform, which is both user-friendly and technically advanced. Aware that there are many types of binary traders, there are multiple trading accounts as options, from Micro to Platinum accounts. They also offer a broad selection of binary option trades, including Pair Options, together with the more traditional high/low options. For those who enjoy dynamic trading, there are 60 seconds options, One Touch for fast gains, and the Ladder system.
Social traders can benefit from a Social Trading feature, where you can follow other traders and their actions. The website is available in many languages, including English, Russian, German and Arabic, and there is a minimum deposit for new customers of $250. The minimum and maximum trade sizes are $25 and $10,000 respectively. If you have any questions, they can be contacted by live chat, email and telephone, but read on in this PWRTrade Review to see if they provide a safe trading platform.
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Is PWRTrade A Scam? Is PWRTrade Regulated?
This company is not regulated by CySEC in Cyprus or any other government regulators. We would not recommend using an unregulated broker, however, they have been trading for a while now. There have been reports relating to account managers placing losing trades if clients requested any withdrawals. Some customers have been unaware of this conflict of interest and continued to allow the broker to trade, and the ensuing complaints have fuelled speculation about a PWRTrade scam. Binary options, in general, have also attracted a lot of bad press recently.
Remember that customers are more likely to post negative comments than positive ones, but research is critical in order to make the right choices. The company is still providing online services from its website at https://pwrtrade.co/. They do offer one of the most reliable data providers, which is Thompson Reuters. Another positive factor is the extensive education centre, which provides FAQ’s, videos, a glossary, eBooks, and advice for new traders. Selecting from amongst the numerous CFD brokers can be a daunting task, so be sure to read reviews and advice to make the most of your trading experience. It is important to choose a reliable company with the right trading options for you.
Alternatives To PWRTrade
If you decide that an unregulated broker like PWRTrade is not for you, then you can check our site for details of the ones which hold a license to operate. Companies such as IQ Option or Markets.com are regulated by CySEC. They are also registered with the FCA and other EEA licensing bodies and offer services covering Europe. Licensed brokers usually have restricted jurisdictions, so be sure to check these out. Then simply sign up, decide which type of account you want, confirm your account, and make your first deposit. Brokers listed on our website are all legitimate providers in their countries of operation, so you will not have any concerns about fraudulent activity or scams.