Opinion about PWRtrade

Do you think that PWRtrade is it a scam? Doubts about the legitimacy of this broker are normal because it does not have a license. However, after having researched it, in our opinion it is not a scam and allows you to easily invest in binary options.

Being in front of an unlicensed broker makes more doubts arise about the possibilities of scam. In this case, the company is based in Bulgaria and does not have the approval of any institution. In the following sections, we will discuss the security it offers us, as well as our opinion about its services. In any case, remember that you can see our list of the best online brokers here .

Our experience with PWRtrade

In general, the experience with PWRtrade is the one that can be obtained from an average quality broker. The amount of underlying assets is limited, but it is enough for someone who is just starting out and is not able to follow many assets. The website provides a satisfactory service, but it must be borne in mind that it is not available in New Zealand. To work with this platform you will have to choose between English, German, Arabic and Russian. It also offers a simple educational section, with short videos in English that explain how to invest in binary options or, at least, the basics of such an instrument.

Below we will see how this broker behaves in what we believe are the main aspects to make a decision on whether to open an account.

Is PWRtrade a scam?

From Estafa.info we do not dare to claim that this broker is a fraud. However, the fact that it is not licensed, makes us recommend to all our readers to be very cautious with their income. There are many brokers with better security guarantees and in which there are more investment possibilities.

If, however, you decide to operate with this company, you should know that in case of claiming you must do so, according to its terms and conditions, in the Marshal Islands, although the headquarters of the same is in Bulgaria, as you can see in the table above. This inconsistency also makes us suspect that problems with payments may arise. In addition, investing in an unregulated broker implies that the company must not prove to anyone that its procedures are scam-free. Remember that with binary options, the more you earn, the broker loses and, therefore, it is important to have some guarantee that the broker is obliged to respect your interest when executing your orders. Although we are not aware that the broker takes advantage of orders and times when executing client orders, it is true that it would not be easy to verify that it does not do so either.

All that said, we have not found any real indication that the broker is a scam. Although the security guarantees are lower than in other cases, their activity seems legitimate.

Investment offer

After security, the second most important factor in choosing an investment platform is the possibilities it offers you when investing. Even being before the safest broker in the world, it would be of no use to you if it does not allow you to invest in the assets that you can analyze better and interest you. Therefore, in the next section we will tell you in detail how is the job offer of this company. But first, we want to make some general notes about the available offer. First of all, we want to emphasize that depending on the money you deposit, you will be entitled to a different type of account. The most basic is from $250 and is called Bronze. From there we have the Silver accounts for $2000, Gold for $10,000, Platinum for $25,000 and Diamond for $50,000. Each one offers more services than the previous one.

In another order of things, the website has a basic educational section and in English, which may be interesting. We will also see later that depending on the initial deposit, a welcome bonus can be obtained.

Binary options trading

Binary options are the stars in this broker, since in fact they are the only financial product they handle. In addition to normal binary options, this platform also offers the most popular varieties of them, which today are being offered by almost all brokers: straight, one touch, pairs, long-term and fast, as well as the ability to follow some traders and copy their trades automatically.

In the classic asset categories: currencies, indices, commodities and stocks, the best treated are the first, because you can invest in up to 39 different currency pairs. There are also 8 indices available, but we were happy to see that the IBEX was one of them. In commodities, the offer is limited to the most basic: gold, silver and the gold/silver pair. You can't even invest in oil. As for the shares, there are 40 of them available, among which we will find Telefónica and Banco Santander.

Welcome bonus

The welcome bonus depends on the deposit you make when you register. In principle, they will not offer you a welcome bonus for the Bronze account, but if you talk to customer service, you may get something. The stipulated regular bonuses are 50% for income of $2000, 75% for income of $10,000 and 100% from $25,000.

In order to get the money out, you will have to fulfill the classic traded volume condition. In this case it amounts to up to 20 times the value of the deposit plus the bonus. That is, for an income of $ 2000, which gives you a bonus of another $ 1000, you will have to trade a volume of $60,000.

If you do not meet this requirement, of course you will not be able to withdraw the money from the bonus or its benefits, but you will also have to pay a fee of 30% of what you want to withdraw, so if you are going to accept a bonus, make sure that you will not want to withdraw the money, until you meet the volume requirement.

PWRtrade payment methods

Entering money into this broker is a very simple action. It has a good number of methods available for this and, therefore, it is easy for you to find one with which you feel comfortable. The only thing you have to do is make sure that when you are going to make the transaction in the URL the https appears, with the final S, to be sure that the information will be encrypted. In principle, they only accept accounts in the following currencies: US dollar, pound sterling and dollar, but if you want to open an account in another currency, you can talk to customer service and ask them for that possibility. The minimum deposit that can be made is $250.

When withdrawing money, it is very important that you have complied with the bonus conditions to avoid that 30% fee that we have already mentioned. Once this is done, you will have to pass the typical “Know your Customer" verification process that aims to prevent international money laundering. The verification method is the common one of any online broker: photocopy of the identity card or passport, together with a copy of the credit card if you used that method to deposit the money or of an invoice domiciled in your name if you opted for the bank transfer.

In principle the money will be transferred by the same method that you used to make the income, but if the profits exceed $ 100, the excess part will be sent by bank transfer.

PWRtrade Security and regulations

The security of this broker is at the expense of what it tells us on its website and how little we can check. For our part, we have been able to verify that the company offers a website with SSL encryption, which makes monetary transactions as secure as in any other online commerce. Although it may seem like a basic measure, it is not at all and many websites that are dedicated to scams do not bother to implement this measure. In this case, they have done it and that offers us some security.

Secondly, the company claims that it keeps customer funds in segregated accounts, in such a way that your money can never be confused with theirs. This practice is common among good brokers and highly recommended. However, the problem is that we cannot know if it is true. In the same way, they also claim that the company passes external audits on a regular basis, but does it really do this? As it lacks a license, it has no obligation to do so, and what we have found on its website, may be empty statements.

Whenever we deal with cases like this, we say the same thing. The broker is the first interested in earning a reputation for security, because it is the only way to get clients. This should be enough motivation to have a good behavior, but unfortunately it is not always. If you decide to open an account with them, we recommend that you do it with a small amount.

Customer service

One of the complementary factors of the security of an investment company is its customer service. From what we have been able to verify in this case it is fast and attentive. You have it available by live chat, in English, by phone with numbers for the United Kingdom, which is the one we offer you in the table, Bahrain, Australia, Cyprus, Canada and Singapore. You can also fax documents to them, for example when you go through the identity verification process and get in touch with them via email and the contact form. In all of them they answer you promptly, but it is essential that you are able to communicate in English.

Functionality of the website

The website is of good quality. It has a Moderna and pleasing to the eye design, but the most important thing is that it loads fast and it is easy to navigate through it. At the top, you have the basic functionalities, including access to the investment platform.

The screen for investing is like in any other competitor. You will see a large box with the asset and two large buttons for the call and put. You can easily change both asset and asset type (indices, stocks, commodities or currencies) and also binary option type. In short, you have practically all the investment options at a single click on a single screen.

Mobile application

Nowadays, many users make more use of the internet on mobile than on the computer. Therefore, we like to check how the mobile app of the brokers that we review are. If you intend to invest from your mobile, you should know that it has an Android app, with acceptable functionality. There are some aspects like stability that could be improved, but if you have a good connection, you shouldn't have any problems. On the other hand, the app has been removed in iTunes. So to invest from an Apple device, surely the best thing is to access from the browser that you usually use on your mobile and make use of the web version that is optimized for mobile and works perfectly.

Finding

PWRtrade is one more option on the market to be able to invest in binary options. Its underlying offer is not particularly good, but it does offer the possibility of investing in the IBEX 35 and some New Zealand stocks. If you want to open an account, you must bear in mind that the website is not translated, so you must use English. Customer service adds value to you, because you have enough ways of contact. As for security, the truth is that in our opinion it is not a scam, but it does not have a license and this makes the security not as high as in any of the binary options brokers that we show in this list . Therefore, we recommend caution when making income and remember that in case of problems we will always be at the expense of the company's decision.