PWRtrade is a broker that was started and is owned by GN Capital Ltd. The company started the brokerage in 2015. It is located in the Marshall Islands with offices in the UK, South Africa and Canada. Over the course of a single year, the broker has managed to generate a lot of positive feedback from traders. It is rated as being one of the best trading platforms and brokerage sites out there. Is it actually as good as the people say it is? Check out this full review of the PWRtrade broker to see for yourself!
Special Features, Bonuses and Account Types
PWRtrade has acknowledged that there are many types of traders out there. Because of this, there are actually many different accounts available. The Micro Account is the most basic and is perfect for beginners to the game who aren’t going to be trading too often. It has a $250 minimum deposit requirement, and access to the most basic of trading features. It takes about a week for a withdrawal to be approved, and is great to learn the ropes with.
The Basic Account is probably the most popular choice for traders. It takes a week for payouts to come through. The minimum initial deposit to open a basic account is $500, but it also features a 50% welcome bonus for new users.
With a $5000 deposit, traders get access to the Select Account. This has a 75% welcome bonus and access to some advanced trading features. These include live signals for binary options as well as personalized training sessions for the more inexperienced traders. This account grants access to the broker’s very own regular market reviews. Payouts take only 5 days to come through.
The Platinum Account is for corporate traders or people with a lot of money to invest in trading. It has a $15000 deposit requirement but features a 100% welcome bonus as well. Withdrawals only take 3 days. Access is granted to more features, personalized training and signals as well as the market review.
One unique account type offered by PWRtrade is the Islamic Account. This is made for Muslim customers who want to follow their laws when trading. All of the trading options are strictly in compliance with Sharia Law, and there are no hidden interest rates involved.
Regulation, Security and Licensing
Security is one of the biggest decision factors in binary broker selection. PWRtrade doesn’t currently have a regulation or license, but an application for the same from CySEC is currently being processed. They expect to have their license by the end of the year.
In terms of security, the site is fully HTTPS secured, and uses a strong TSL encryption protocol to protect trader data and transaction details. We didn’t find anything worth worrying about when checking out the security on the website.
The broker uses one of the most popular types of trading platform: SpotOption. This is one of the most famous developers in the binary options trading game. The software is very easy to use and has a ton of options such as Ladder, One Touch and even Forex Trading. There is also a featured proprietary social trading platform known as PWRFollow. There are also other options like Pairs and the standard High/Low trades. Both long term and short term options are available as well.
Withdrawals, Deposits and Payouts
This broker has a lot of different ways to make deposits and to withdraw money. Traders can make use of Visa, MasterCard, Delta, Visa Electron, bank wire transfers and Maestro, among others. There is a minimum withdrawal limit of $50, and a minimum deposit amount of $250. These are pretty low when compared to the other brokers out there. Any profits made have to be sent out via wire transfer. No withdrawal fee is charged, and processing usually takes up to a week.
PWRtrade is a very useful binary options broker indeed. It is one of the best out there, especially in terms of customer support. The deposit amounts and the unique account types are just great as well. While withdrawals do take a little longer than hoped for, it isn’t too bad. In addition to this, all problems are dealt with quickly and efficiently. Working and trading with this broker is a joy to do!