PWRtrade

UPDATE (19.01.2017):

We have found out that PWRtrade has shut down their operations.

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

Min. Invest	Min. Deposit	Max. Returns
$1	$10	92%
$1	$10	91%
			All brokers >>

	Min. Invest	Min. Deposit	Max. Returns
	100%	$10	92%
	$1	$10	91%

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:

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

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

Author
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John Miller

Author at 7 Binary Options

John Miller is the main author of content here at 7 Binary Options. He’s also the brand’s lead investment consultant. He’s been working for 7 Binary Options since April 2014 and brings a wealth of knowledge and experience to his role. He’s played a crucial part in developing the site and helping it grow. In his role as writer and consultant, John’s keen to help others get ahead in the ever-changing world of binary options and forex trading. He’s always happy to advise others, whether it’s complete beginners learning the ropes or more experienced traders looking for some hints and tips.

John certainly knows what he’s talking about. He graduated from California State University in 2008 with a Master’s Degree in Investments and Securities. Since entering the world of work, he’s continued to put his degree to use. He’s spent over a decade working in the investment banking sector and thanks to his foresight, skills and education, he’s in a prime position to offer help to others looking to start investing.