PWRTrade Review (2023)

Is PWRTrade a scam or legit broker?

No, it is not safe to trade with PWRTrade. PWRTrade is owned by GN Capital Limited, which is an offshore company registered in the Marshall Islands.

The Marshall Islands is notorious for its practically absent requirements and regulations. Due to the setup cost is low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as MegaTradeFX, Finbitex and more.

PWRTrade is a Forex and CFDs broker. The company doesn’t provide much information about its location (only British phone number) and there is no information indicating any regulatory authority that supervises PWRTrade. In addition, PWRTrade has been blacklisted by a few regulatory authorities.

There is a warning from The Manitoba Securities Commission in Canada:

“PWR Trade, GN Capital Limited, GN Management, and www.pwrtrade.com are not registered in Manitoba to engage in the business of trading securities or advising anyone with respect to investing in, buying, or selling securities. “

Also, The Financial Services and Markets Authority in Belgium warns public about PWRTrade:

“GN Capital Ltd, operating under the trading name PWRTrade, is not an authorized investment firm or credit institution in Belgium. It is therefore not allowed to provide banking and/or investment services in or from Belgium. Furthermore, certain investment instruments that this company offers are speculative and particularly risky.”

Conclusion

We advise all investors and traders to avoid PWRTrade and other brokers from the Marshall Islands. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FBS and BlackBull Markets.

PWRTrade website is no longer active