And with Power Trend, you get access to both MetaTrader 4 and 5. Along with these platforms, you also get access to the Libertex trading office, which is a good trading solution as well. Certainly, the trading platforms are quite an attractive section and impressed me the most. This international brand has acquired over 20 years of experience. During its operations, Libertex has won 30 international awards from financial magazines and institutions for its customer support quality and innovative tech solutions. The spreads in the real platform are far from these in the demo Mt4.
I asked them why and they answered me that spreads will be the same when I open an account with 50,000. Otherwise the execution is not bad – sometimes they requote me. Power Trend is a collective brand of several companies that provide trading in forex. Indication Investments Ltd is the only one that is licensed and regulated by the Cyprus Securities & Exchange Commission . The CySEC license allows it to conduct financial services, including forex. Andrew has a well-established career in fintech and came up with comparebrokers.co to make trading on financial markets more transparent and accessible. Traders are guarenteed to close your trade at your specified price.
There are many options that are far better than Power Trend, you should go with them and avoid this broker. Another subsidiary of the Power Trend is Libertex (libertex.com), which is regulated by CySEC. Power Trend is an unlicensed and suspicious broker who provides contradictory info. Learn the basics of trading in this 3-hour trading course developed by our award-winning investment academy. Power Trend could go bankrupt from one day to another since there are no banking information about this broker.
As for how the binary options scam started, Smallbones waxed philosophical. First of all, he estimated that about 300 people visited the article’s different language versions per day, and he wonders how many of power trend scammers those, seeing positive statements, went on to trade with the company and lost money. The “cheatsheet” for Scandinavian customers said clients were predominantly “old people and really need someone to talk to.
MetaTrader 4 also known as MT4 is the number one trading platform on the planet and has been in active use on financial markets since 2005. The MetaTrader 4 software delivers a feature-rich, user-friendly interface and an extremely customisable trading environment, designed to ful fill all of your trading needs and boost your trading performance. Charting functionality and advanced order management tools make certain you could monitor your positions quickly and economically. Be aware that different entities under the Power Trend Brand offer different trading instruments due to regulatory restrictions.
The problem often came when they tried to withdraw money. One said his trader told him he could access his money only if he paid more than £1,000 in bank fees and commission. Others said they were simply told their withdrawal was “pending”, but never saw their returns. Belongs to well known Russian scammers Power Trend but they try to hide that fact.
Also Power Trend is regulated by Cyprus Securities and Exchange Commission . CFDs are leveraged products and can result in the loss of your capital. Lets explore each of these trading platforms in detail and what options Power Trend gives you. 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. If a clients trading account does not have any buying and selling over a period of time as dictated by the broker an inactivity fee may be due. Power Trend is regulated, governed and supervised by reputable financial regulatory bodies.
One is the real account, with your real money and the other is your demo account. Having any money you deposit with Power Trend means that your funds are safe in a bank that has enough capital to accommodate your withdrawal wishes even if Power Trend goes out of business for some reason. A Tier 1 bank is considered the safest and most secure regarding client capital. Tier 1 is actually a term describing prtrend official site the financial strength of a bank. A Tier 1 bank has strong core capital reserves and financial regulators utilize tier one banks because they are able to withstand unexpected financial losses. If Power Trend violate any regulatory rules their regulated status could be stripped. When choosing a broker like Power Trend the administrative body and regulatory status of the broker is very important.
Make sure to stay away from this broker as they are anonymous and that they can disappear any time without notice. Please note that Comparebrokers.co may have financial relationships with some of the merchants mentioned here and may be compensated if consumers choose to click the links located throughout the content on this site. The material does not contain investment advice or an investment recommendation,or, an offer of or solicitation for, Foreign exchange reserves a transaction in any financial instrument. Mark was previously of the Kiel Insitute and has worked with financial organisations across Europe, Australia, South East Asia, South Africa and the Middle East. Mark has over 15 years experience in financial analysis, forecasting, financial modeling idenifying new market opportunities in Stocks, CFD’s, Forex and Commodities. We hope you found our review of the Power Trend brokerage firm useful.
Make buy and sell trades, learn how to take advantage of global trading times and most importantly learn how to mitigate and manage investing risk. Dont be scared off by brokers like Power Trend charging a minimum deposit to open a trading account. Brokers that charge higher minimum deposits often offer additional premium services on their platforms that are not available for free Retail foreign exchange trading on other platforms. Often you have to visit and read many broker websites all of which have different uses of language. Choosing an online broker like Power Trend can be difficult. For a beginner, the first few hurdles can come in the form of what appears to be a complex mobile or online trading platform, hard to understand investment terminology and confusing fee structures.
Brokers that do not charge minimum deposits do so usually to attract new customers. They have to make some way, so transaction commissions and other trading fees may be higher with a low minimum deposit account. While trading in financial investments, losing money rapidly due to trading Forex trading, Spread Betting, Share Dealing is not uncommon.
The fraudster’s strategy appears to have been to attract a small investment, then to use any means possible to get victims to hand over money. Some people were persuaded to invest more, while others were sent fraudulent letters purporting to be from the UK’s HMRC, ordering them to settle fabricated tax bills. In a telephone call, Milton Group’s CEO, Jacob Keselman, told Dagens Nyheter that the information on the firm was “incorrect” and that it was a software company that provided IT support for other companies.
Power Trend is an unusual broker with a very obsolete website. I don’t know if they have kept their website obsolete deliberately or didn’t care for their clients. The language of this website is in Russian and you can switch it to English only through Google Translate. Their website (Power Trend.org) will bring you back to the 2000’s when websites were simple and weren’t as interactive or dynamic as modern ones are. With such lack of information and Power Trend being offshore, funds are not safe. Security of funds is a huge problem with offshore brokers.
Power Trend made an effort to make sure our queries were answered. Our initital investment of ten thousand dollars for the trade and has made a thousand dollars in profit because the price is up ten percent. So what effect does leverage have on your profits and losses well put simply it magnifies them in both directions. Power Trend also offer mobile apps, for Android and iOS making it easier to keep an eye on and execute your trades while you’re on the move. You can trade a wide variety of instruments with Power Trend over 103 instruments infact. This means Power Trend are supervised by and is checked for conduct by the Cyprus Securities and Exchange Commission regulatory bodies. Also personally (!) was in the office of the company for the purpose of verification and did not receive any intelligible answer.
The whole notion of regulation is to protect Power Trend traders and provide a safe trading environment. Financial regulation and license approval is essential. When trading in the financial markets it can be very time consuming to find a broker that meets your needs. The first step to protecting yourself from fraudulent parties online is to do thorough due diligence on the companies and entities that you are planning to send the funds to. In all probability, there have been other users who have already used the same service, and have expressed their opinions and feedback online on various forums. From July 31, 2013 blocked the account, motivating it with the beginning of some kind of verification.
If you are looking for Forex brokers to trade currency pairs on global Forex markets Power Trend offer over currency pairs. A broker may charge a commission fee as a service charge for facilitating the buying and selling of financial assets through your trading account.
View this company’s major news and events on this page. This is a big reason why I don’t recommend trading with brokers based in offshore areas. These areas don’t have proper financial regulators such as CySEC or FCA. Without proper regulation, the clients of such brokers face numerous financial and privacy risks.
I didn’t expect to see such good spreads with such a broker. Power Trend demands a minimum deposit of $20, which is excellent. It makes them appear more reliable however, finding this information was quite a big challenge. However, I won’t say that Power Trend is a scam as the eur parent company behind this broker is quite reputed and runs multiple brokers that hold proper licenses. Power Trend is a part of the Power Trend group which has multiple subsidiaries. This specific branch (Power Trend.org) concentrates on users based in ex-Soviet states.
Build your own Libertex Portfolio Access stocks from companies around the world starting with just $50 and enjoy 0% commission on every trade. If you have been scammed, check out our ChargeBack process here or get a Free Consultation by a team of expert by clicking here. Problem with offshore brokers is that they are not reliable and abuse the regulations.
Unlike other news outlets, we haven’t put up a paywall. But as the journalism we do is costly, we invite readers for whom The Times of Israel has become important to help support our work by joining The Times of Israel Community. Smallbones is drawn to edit Wikipedia articles about financial fraud because the topic interests him. But he regrets that it took at least three years to get the Banc De Binary article to a place where he feels it is accurate and fair. Second, he wonders how many hours of unpaid labor Wikipedia editors spent on “cleaning up” the article. Wikipedia editors also conducted an investigation that led to the banning of the article’s original creators as “sockpuppets,” an internet term for users who assume multiple identities for purposes of deception. Banc de Binary’s website first appeared online in about 2010.