Before signing-up for an account and trading with a particular broker, I have to make sure that it gives me the best trading conditions. Not only should it have a fully functional platform but it must have a rock solid reputation to back up its credibility. PWRtrade seemed to qualify on these strict requirements of mine and that is why I decided to test what they can offer. After doing a background check about this broker, I’ve learned that they have only been in the business since 2015 yet they already have a good number of positive feedbacks which must mean that they are really good. The minimum deposit is $250 while the bonus packages are satisfying particularly the risk-free trades.
After using the demo account, I can say that they have a well-developed trading platform not only because it is very fast but all the much needed features are there although it would have been better if they added more option types. Their charts are well-detailed and their education center is very useful for further developing my trading skills. In general I can say that PWRtrade exceeded my expectations. Please continue reading for the full review.
Demo Account: A carbon copy of the real version
The demo account version is basically the same as the real version of the platform and the only difference is that it uses virtual money. This feature can be requested after an initial deposit has been made.
Bonuses: Deposit match and more
Not only do they offer cash bonuses that can go for as much as 100% but they also include other privileges such as balance protected accounts and risk-free packages.
Platform: All the elements included
The platform runs well on my browser and reacts quickly to most of my actions. It has all the elements that are needed for trading and doesn’t consume a lot of virtual memory.
Mobile Trading: Smartphones and tablets supported
They have special apps for tablet and mobile phone users so trading via these devices is possible. It’s available for download on Google Play and App Store. Alternatively, they also have a mobile portal which can be accessed directly on a mobile browser.
Tradable Assets: Slightly above average
Currently they have around 90 available assets on their platform which is slightly above the average range. They have included the most traded ones on their list so it is still possible to expand my portfolio since the available assets are already varied.
Minimum Trade: The standard amount
Each trade requires a minimum investment amount of $25 which is basically the standard minimum trade size.
Payout Rate: Higher yields possible
For Bronze, Silver and Gold account users, the highest possible payout rate is 82% which is already a competitive percentage. Platinum and Diamond Account users on the other hand can get up to 87% in investment returns.
The Call/Put trading instrument is categorized as Binary and has a good range of expiries.
This short term option is labeled as Speed Option and can be applied on a number of assets with high payout rates.
Even this trading instrument is available on the platform.
Various special instruments are also available including Long Term, One Touch, Ladder, FX/CFD and PWR Follow.
Deposit and Withdrawal
Minimum Deposit: Not too high, not too low
The $250 minimum deposit requirement falls under the midrange. It can further be extended by the additional bonuses that will be added to the account.
Deposit Methods: Worry-free transactions
Making a deposit with this broker is worry-free because they accept various payment methods such as credit cards, electronic payments and wire transfers.
Withdrawal Methods: More than the usual
I had the same experience for withdrawing my money. It’s very easy and doesn’t require any complicated undertaking.
Withdrawal Processing Time: Only 3 to 5 days
I thought they were just bluffing when they told me that I can get my money back in 3 to 5 days but I was really amazed upon actually seeing my money back just as they promised.
Channels: No long queues
What I like about their support team is that I don’t have to wait that long to contact them since I have a lot of options. They can be reached by phone, fax, email and live chat.
Contacting them at any given time is possible because they are available 24 hours a day, 7 days a week.
Supported Languages: English and more
They support English, German, and Arabic speaking clients.
Average User Rating: 8.9
This score was provided by various users and its value is taken from the accumulated votes that were given by actual traders who have tested this broker.
Platform Design: Plain and simple
Their designers managed to apply a very simple theme while still giving it a sense of sophistication. The colors are just right for the trading environment and the controls are properly sized.
Support: Quick responses all the time
I was really amazed on how fast their support team is in responding to my queries. Regardless if I contacted them via phone, email or live chat, their responses are always quick and accurate. Now that’s what I call speed.
Reputation: A new broker with promising features
This broker has been getting attention for its variety of trading products which allows their clients to maximize their trading experience. Other than that, the majority of the feedbacks that I am getting about them are generally positive which means that they are doing a good job.
Editor’s Rating: 86
Trading with PWRtrade proved to be a very gratifying and profitable experience for me. What I particularly liked about trading with them was their professionalism, especially in the customer support team. Their platform was user friendly offering me lots of added extra tools for trading which made my trading experience a whole lot easier and profitable. Withdrawing my funds was also fast and I never encountered any problems what so ever. This broker has what it takes and can most certainly hold its head high amongst the better brokers of the trading world.