|PWRTrade is an ok broker, however you should be careful because it’s not regulated.
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PWRTrade Broker Review
PWRTrade is a binary options broker owned by a company known as GN Capital Ltd., based in the Marshall Islands. It is one of the more reliable and awesome brokers out there, in a world that is full of doubts and fear. They operate mainly in the UK, and have bases in South Africa and other countries as well. No matter how much you invest in this broker, you can be sure of getting one of the highest qualities of customer service and one of the best trading experiences you will ever have.
The whole team behind the broker is experienced and ready to assist even a beginner with the complexities of trading. So is this platform worth putting your trust and your money into? Let’s find out in the PWRTrade broker review right here:
Fun Features for Everyone to Enjoy
One of the best features of the platform is that the trader is allowed a choice between one of many different trading accounts. These include:
Micro – For deposits ranging from $200 to $500. It doesn’t have any special features added to this.
Basic – For deposits from $500 to $5000. This is the normal account type, and features an awesome welcome bonus of up to 50% of the deposit. You also gain access to a range of daily market updates.
Select – For traders who deposit between $5000 to $15000. It gives you access to the daily updates for the market, up to a 75% bonus on signup, private tutorial options, a personalized account manager and signal trading. Where the Micro and Basic accounts allow withdrawal processing in one week, the Select account does it in 5 days.
Platinum – This is for the high-end traders, with a minimum deposit of $15000. If you trade with a Platinum account, you get a 100% welcome bonus. Withdrawals typically process in 3 days, and all of the special perks of the other accounts are granted as well.
There is also the option for followers of the Muslim faith to open an Islamic account. Not many brokers offer this option, which takes away all commissions and fees. There is no interest for any trades you open overnight. There are many types of trades, including the standard binary option trading which offers up to 85% in payouts. There is also:
- Pairs – Comparison of two specific assets to figure out which emerges on top.
- Long term – expiry of the option occurs in a week or more.
- Short term – quick, 60-second trading and expiry, with a maximum of 5 minutes.
- One Touch – High risk, high reward option with payouts up to 500%.
- Ladder – Like one touch, you determine two or more levels for the asset to hit over the course of its lifetime. The more points it touches, the greater the payout.
- Forex and PWR follow – Social and foreign exchange options for the diversified traders.
The multiple options for trading and accounts makes this broker one of the most diverse out there, and you can really have a good experience using the many features of the site, including the epic market reviews and strategy guides, the education center and the in-site glossary of terms and the FAQ.
Is It Reliable And Regulated?
This is where the one problem is. There is no license for PWRTrade as of now, but they hope to obtain one by the end of this year. They also do not accept trades from the USA, but are open to most other countries.
Software and Platform Review
This broker uses an updated version of the comprehensive trading platform – SpotOption. All features of this platform are supported by the broker, including social trading and forex. They also have integration with MetaTrader 4. The current maximum trading size is $10000 at once, and they have a return of 81% on most options, with 72% on the 60-second option. You can deposit a minimum of $250 to begin with and you are allowed a minimum size of $25 per trade.
Epic Customer Service and Payout Options
Customer service is one of the best out there, with live chat support round the clock. You can deposit and withdraw money using Visa, Mastercard, Neteller, standard bank wire transfer, and Maestro. Payouts happen in 3 to 7 days based on your trading account.
Overall, PWRTrade is a recommended platform. There are a few issues, such as the lack of US trader support, but all-in-all it doesn’t fail to deliver high quality options with a gorgeous trading platform. If they do get their licensing through, this is one of the best brokers out there.