PWRTrade is an unlicensed Forex CFD broker that opened back in 2015 as a binary options broker.
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: firstname.lastname@example.org, and the new website is at: PWRtrade.co.
If you have withdrawal problems or complaints, you should look here.
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 new accounts is only $250. Their site is available in English, German, Russian and Arabic. Minimum trade size is $25, and the Max trade size is $10,000.
WARNING: Don’t use any automated trading system until you read this alert!
You can find popular automated trading software, look here.
The main thing we look for when reviewing a binary options 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 regulators 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.