When it comes to credibility, it’s easy to say that they remain to be one of the top brands in the market. Based on the tests that we’ve done Foreign exchange reserves with their platforms, we never encountered any requotes even when there is unrest with the markets or when the prices are highly volatile.
There has to be some other way to find the middle ground. So, for a novice trader, it would be not easy to adjust in the first place. For example, when you check the Standard Account, the broker has marked tick and cross in some places. For example, if the forex market is falling and the broker does not have any other option.
When trading in normal market condition, clients should expect spreads that are lower than 1 pip even for the most active pairs like the EURUSD. This account requires a minimum deposit of USD 20,000 or EUR 20,000, which may not be affordable enough for traders who are just starting out. Another variant is the deposit by check or cryptocurrencies. However, it can take up to 7 working days before the money is booked into the customer’s account and it is depending on the method. Very interesting is also the possibility to transfer money from another broker directly to the Power Trend trading account. Opening an account requires that you take the necessary steps such as filling in your personal information like address, proof of identity, and so on. Once these steps have been taken, you can go directly into trading.
Power Trend’s system offers transparency and I can control my account. Been trading with them for 6 months now since the lockdown, and I have to say they have the fastest execution I’ve ever seen. So far, they’ve never missed out on withdrawal, it’s always on time. Very opposite of my previous broker, which processed my withdrawals 3 days minimum. A layperson would never understand the meaning of PAMM accounts and services. When other brokers are interested in showing up normal accounts and keeping it simple for investors from all strata of the society, Power Trend has complexed the things. The company should know that market players are here to invest and not to decipher the meanings.
You can use this to code your own Expert Advisors on the platform. EAs Retail foreign exchange trading are trading scripts that will run 24/7 and trade automatically.
How To Deposit Money On Power Trend
Power Trend does not charge any fees for the deposit and also some withdrawal methods are without fees. During our investigation of the Power Trend review, we realized that many traders have lost their money in the past working with it. Also, the website is being promoted by paid testimonials.
If you are looking for Forex brokers to trade currency pairs on global Forex markets Power Trend offer over 50 currency pairs. Depending on the type of account you have signed up for you can only be charged an inactivity fee under certain circumstances. As part of a brokers regulation they are required to clearly disclose any inactivity fees. Investing online can be just as risky as any other kind of offline investment. As with any investment, it is important to know and research the company you are dealing with.
Top 3 Forex Brokers
One of the most important criteria for a Forex trader is no doubt the types of trading platforms that you will be using. Of course, if you do not want to risk your funds at first on a live account then you can always opt for the free demo account on offer at Power Trend. Power Trend does not charge any trading fees or commission but they will charge a spread on the assets that you are trading. This is the spread between the bid and the offer in the order books. In addition to this, traders also have access to the best spreads in the market. Flexibility and accuracy is what Power Trend intends to give its customers at all times.
- A request to settle a debt, taxes or other amount owing and to send money via courier, prepaid bank card or gift card.
- Power Trend has a set of different platforms including MetaTrader 4 for PC, MetaTrader 5 for PC, mobile apps for iOS and Android and BinaryTrader.
- We should all report Power Trend to authorities, register the same with interpol and the regulator.
- Power Trend entered Indian market in 2008 and left India in March 2014.
- It obtained its license in 2013 and has since had a clean regulatory record.
- When you send in a withdrawal request to Power Trend, this will be honored.
This is if your broker accepts funding your account via a credit card. That said, please note that you can lose funds when trading in financial assets. Accounts can power trend website lose money due to either not putting enough effort into researching the markets, lack of experience or not using the tools provided by the brokerage platform.
It is also worth pointing out that Power Trend will not credit your funds if you send them from a third-party account. Hence, the bank account / funding method has to be in your name. We would always opt for the PC based version of the software. It is really hard to chart on a mobile device and the connectivity of mobile networks can sometimes be shoddy. However, if mobile trading is your only option then you can’t really go wrong with the MT4 / MT5 app.
Some withdrawals face internal costs, while third-party processing charges may also apply. With processing times of 24 hours, traders will receive their funds swiftly. It remains one of the most valuable assets at this broker and a shining example of how to ensure clients have flexibility with financial transactions, that include local options. «Power Trend» was one of the first Forex organizations in CIS, one of the oldest and largest brokers in the world. The broker provides active introduction of innovations, professionalism of employees, trading of not only binary options but also Forex and CFD. They boast a large number of satisfied customers around the world, positive reviews, and prestigious awards.
Let’s suppose you were unfortunate to be the victim of the scam broker. Now, the fund recovery specialist service is the only hope to get your funds back. This service takes the responsibility to save your money and recover your funds if the broker turns out to be a scammer. Over 15 years experience in forex, commodities and equities markets research. He loves analyzing and trading the markets as a strategist and trader. In late 2019, Jimmy turned to researching and analyzing forex brokers.
Whether it is forex or bitcoin trading, aggressive sales are everywhere. A trusted broker should not practice aggressive sale strategies to offer artificial profits. A forex trader should purchase a currency at a profit, and sell at a profit. However, a broker offering aggressive sales may not have a solid trading system.
Moreover, it felt as if the agents were mostly reading from a script. Moreover, Power Trend is one of the few global Forex brokers that we have seen that still allow telephone dealing. However, this is only available when you want to close the trades and not for opening. When it comes to trading, you will use the MT4 and MT5 mobile apps mentioned above. These are the most popular trading apps available on the market and have been downloaded over 11 million times. As is the case with the MT4, you can trade with the MT5 on a number of different platforms and devices. You also have more optionality when it comes to placing orders on the MT5.
How About Power Trends Customer Support?
A minimum deposit is the minimum amount of money required by Power Trend to open a new online brokerage account with them. We have checked and Power Trend is regulated and supervised by reputable organisations. You are able to check every Power Trend supervisory and regulatory body given below. Regulation gives you some recourse for those who have issues with Power Trend. Regulatory authorities protect prtrend cheating the traders with things like reimbursement schemes that regain the client’s investment in the event the broker becomes insolvent. Power Trend compares well to most of the industry firms regarding diversity to meet with the ever-rising market demands and technical training capabilities. But perhaps, its most salient feature is the great emphasis on informational and educational services.
They have standard accounts, pro accounts and their ECN no dealing desk accounts. So as you can see, the Pro MT4 ECN and the ECN MT5 accounts have spreads that start at close to zero.
Does Power Trend Allow Hedging?
CRYPTONEST.ORG has done an excellent job bringing me on to the light of financial freedom. I certainly recommend them to everyone willing to invest out there. But I feel like it’s time to make a move and switch to another broker as there are a bunch of issues I’ve experienced with Power Trend. First, my SL is getting hit automatically when it reaches about pips. If you cross check, you’ll find that the market never reaches this level.
On the basis of these tests, these brokerage firms are then issued a license by the regulators which gives them the legal permission to operate in that country. If your broker does not have a license, it is almost equivalent to you giving your hard-earned money to a robber. The company is deservedly considered the leader in Forex and CFD trading. Different trading instruments and terminals, quality spreads, and low tariffs are available for customers today. The high quality of services is proved, first of all, by customers’ reviews. «Power Trend» is a Forex broker with unlimited opportunities, a company that aspires to offer the customer not only service and competitive rates but also various contests, bonuses and promotions.
You are left with zero options and cannot file your complaint anywhere else. They are time taking and only surge the trouble by gulping your precious time. About transactions, it says 412,586 transactions have happened so far and has paid USD 14,421,392 to its clients. But no one tells what was the procedure and how did they manage to reach there. A true broker would forex document every step and present it in front of traders to win their confidence. Overall, we found Power Trend to be a reasonable and transparent broker that has low spreads with an attractive array of assets to trade . In terms of the research coverage, there appears to be way more focus on the Russian speaking geographies than there is on English speaking geos.
Make sure that your broker is not fake or unreliable to avoid losing your investment. Ensure that your needs fit the profile of your broker as well, in order for you to have a good working profitable relationship.