PWRtrade Review

UPDATE (8.10.2016):

We have found out that PWRtrade is closed.

We recommend choosing one of our top binary option brokers instead:

1. IQ Option
2. Banc de Binary
3. Finpari (for US traders)

Try also Binary Option Robot if you are looking for automated binary trading.

Old Review:

PWRtrade is a brand new binary trading platform whose goal is to provide an easy to use and accessible trading platform to everyone who wishes to trade in the binary options market. They pride themselves on having a safe and effective experience for all traders, no matter their skill level or degree of investment. PWRtrade wants to make binary options accessible for everyone, right at their fingertips. For our in depth review with extensive information on this broker, read our full PWRtrade review.

Basic information:

Online since: 2015
Jurisdiction: UK
Software: SpotOptions
Max Returns: 85%
Bonus: 100%
Minimum Deposit: $250
Minimum Investment: $25
Maximum Investment: $5000
Currencies: USD, EUR, GBP
Mobile: Yes
Countries: All nations excl. USA

Pros:

– Great deposit bonus
– A wide variety of options to choose from
– Offers Islamic accounts
– A wide variety of binary trade options
– Excellent customer service

Cons:

– lengthy withdrawal process for lower accounts

7 Binary Options Rating:

4,5 stars

Start trading

PWRtrade Special features

PWRtrade is aware that there are several types and levels of binary traders so they have devised several trading accounts so they have a level available for every type of trader. We will give you information on each below in our PWRtrader review.

PWRtrade Micro Account
○ access to basic trading
○ 7 days to process withdrawals
○ $250 minimum deposit

PWRtrade Basic Account

○ 50% welcome bonus
○ 7 days to process withdrawals
○ $500 minimum deposit

PWRtrade Select Account

○ 75% welcome bonus
○ 5 days to process withdrawals
○ $5000 minimum deposit
○ access to binary signals
○ one-on-one training
○ PWRtrade market review

PWRtrade Platinum Account

○ 100% welcome bonus
○ 3 day withdrawal process
○ $15,000 minimum deposit
○ access to binary signals
○ one-on-one training
○ PWRtrade market review

PWRtrade Islamic accounts are available for those customers who wish to conduct their trade in complete compliance with the Islamic principles. We feel this is a huge advantage for those traders of the Muslim faith. All of the preferences strictly adhere to Sharia Law and there are no hidden fees or interest rates.

Bonus will be revoked if the trader does not reach the required trading volume of 40x, according to the bonus policy on the website. In the Terms & Conditions sections, PWRtrade clearly states “Bonus cannot be removed once it has been credited” (6). We were just a tad confused by this statement as well as the bonus policy. Finding 30x in (14) of the Terms and Conditions is also quite disconcerting. We strongly suggest that traders discuss the terms with the account manager and get the terms in writing, as suggested by CySEC. PWRtrade is not regulated at this time.

Other bonuses offered by PWRtrade include a “refer a friend” bonus where users can refer someone to get $100 in bonuses as well as risk free trades.

PWRtrade Trading software

The PWRtrade binary trading platform is similar to that of SpotOption. They offer a wide variety of types of binary options trades. PWRtrade does offer our preferred method of trade: Pair Options, as well as the traditional high/low binary options. We utilized the Pair Options trade quite extensively for our PWRtrade review. For those who prefer to invest with the basics, they offer long term binary options as well.

In addition to the above, PWRtrade also offers dynamic trading for those who are into the “speed options” or 60 seconds options. There are quite a few one touch options for those who are looking to earn the most they can with this platform. They also offer the ladder system.

For advanced traders, PWRtrade offers Forex/CFD trading. This gives us the confidence that PWRtrade has one of the most versatile and diverse binary options platforms and binary option robots we have seen to date. They offer a variety of assets including 10 commodities, 16 stocks, 30 currency pairs and 15 incides. The entire index appears to be geared towards currency trading.

PWRtrade Support information

PWR trade support uses all of the regular methods of communication to which binary traders have grown accustomed. These include a contact form, live chat, email and phone system. For the purpose of this PWRtrade review, we posted a question on the live chat as we feel this is the preferred method of binary traders. The help desk staff replied back to us within two minutes and answered our questions politely and efficiently. The phone numbers for PWRtrade are listed below:

Bahrein: +973-161-98432
Cyprus: +357-250-30214
South Africa: +272-130-09271
Canada: +16475582404
UK: +44-203-670-1531
Australia: +61-280-156-861

PWRtrade Banking and Company Information

PWRtrade offers a multitude of ways to make deposits or withdrawals. These include the following: MasterCard, Visa, Delta, Visa Electron, Wire Transfer, Maestro and Maestro U.K. The minimum withdrawal amount is $50 while the minimum deposit amount is $250. We are pleased with the lower withdrawal amount as well as the fact that there is no fee for withdrawals.

As usual, profits must be drawn via bank wire. The minimum withdrawal for profits is $100. At first we found this a bit odd, but as the binary option broker does not charge withdrawal fees, they must find ways to make withdrawals the lowest cost possible. The withdrawal process takes 3-7 days and the length is dependent upon the type of account for which the trader has registered. However, as the average withdrawal time in this market, is three business days, we were none too pleased with this time frame.

Conclusion

Overall, we are satisfied with the PWRtrade platform. We feel the customer service is both knowledgeable and quick to respond. We are pleased with the amount of trades that are available on the platform. We would recommend PWRtrade for anyone who is serious about binary options trading, as there is potential for both new and advanced traders to earn substantial profits if they utilize the system correctly and make smart trades.

Additional information

Customer Service: Live Chat / Email: support@pwrtrade.com
Languages: English, Arabic
Trading Options: High / Low, One Touch, 60seconds, Long Term, Pair Options, Ladder Options
Early close: Yes
Expiry Times: 30 sec, 60 sec, 2min, 5min, 15 min, 30 min, 1 hr, End of Day, End of Week, End of Month
Deposits and Withdrawals: Visa, Mastercard, Bank Wire, Maestro, Neteller
Withdrawal Time: 3 – 7 day
Demo account: No

Start trading

References and Further Reading:

  1. Trading Mechanisms in Securities Markets (ANANTH MADHAVAN-1992)
  2. Optimal Commodity Trading with a Capacitated Storage Asset  (Nicola Secomandi-2009)
  3. Method for providing aggregation of trading on multiple alternative trading systems  ( Margaret G. Littlewood-2009)
  4. Cross-trading system  (Mishel Panariti, Chandler Paris, Akbar Ayaz-2005)
  5. System for electronic barter, trading and redeeming points accumulated in frequent use reward programs  (Richard Postrel-2003)
  6. Trading-off fish biodiversity, food security, and hydropower in the Mekong River Basin (Guy Ziva, Eric Baran, So Namc, Ignacio Rodríguez-Iturbed, and Simon A. Levin-2012)
  7. Do Economists Make Markets?: On the Performativity of Economics (Donald A. MacKenzie, Fabian Muniesa, Lucia Siu-2007)
  8. Fully configurable trading keyboard  (Fully configurable trading keyboard -2006)
  9. User interface for an electronic trading system for a computer screen  (Joseph C. Noviello, Howard W. Lutnick, Kevin M. Foley, Michael Sweeting, William P. Gill-2008)
  10. The Political Economy of the World Trading System: The WTO and Beyond (Bernard M. Hoekman, Michel M. Kostecki-2009)
  11. Islam and Islamic institutions in British Malaya : policies and implementation (Yegar, Moshe-2014)
  12. The Development of Entrepreneurship (Gustav F. Papanek-1962)
  13. Arabs, Moors and Muslims: Sri Lankan Muslim ethnicity in regional perspective (Dennis B. McGilvray-1998)
  14. A Model of Intertemporal Emission Trading, Banking, and Borrowing ( Jonathan D. Rubin-1996)
  15. Emissions Trading with Shares and Coupons when Control over Discharges Is Uncertain (Robert W. Godby a, Stuart Mestelman b, R.Andrew Muller b, J.Douglas Welland-1997)
  16. Banking and Trading (Arnoud W. A. Boot1 and Lev Ratnovski-2016)
  17. Wireless commerce: marketing issues and possibilities (P.K. Kannan ; A.-M. Chang ; A.B. Whinston-2001)
  18. Governing Financial Services in the European Union: Banking, Securities and Post-Trading  (Lucia Quaglia-2010)
  19. Risk trading, network topology and banking regulation (Stefan Thurner , Rudolf Hanel & Stefan Pichler -2010)
  20. A note on the weak form efficiency of capital markets: The application of simple technical trading rules to UK stock prices – 1935 to 1994  (Robert Hudson, Michael Dempsey, Kevin Keasey-1996)

7 Binary Options review: PWRtrade: 4,5 stars.

John Miller
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John Miller

John has worked in investment banking for 10 years and is the main author at 7 Binary Options. He holds a Master's degree in Economics.
John Miller
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