Traders Powers Review – Why You Should NOT Trust Traderpowers.com Broker?
There are plenty of issues with Trader Powers broker. Starting with the suspicious owner being blacklisted in Spain to unregulated trading conditions.
If you are considering trading with this firm, we advise you to pause the decision until you read this review. You will understand everything.
|Broker status:||Unregulated Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||N/A|
|Owned by:||Primis LLC|
|Headquarters Country:||Switzerland (allegedly)|
|Types of Assets:||Forex, commodities, cryptocurrencies, stocks|
|Free Demo Account:||No|
|Accepts US clients:||Yes|
Is Trader Powers a Licensed Broker?
Trader Powers is a brand of Primis LLC, registered in Saint Vincent and the Grenadines. Since SVG has no financial regulator, this company allegedly got its license on the Island of Moheli, Comoros Union. However, upon checking their register, we haven’t found Primis LLC or Trader Powers.
Furthermore, the owner is well-known in trading circles as the owner of BBanc, a trading scam blacklisted by the Spanish regulator CNMV. We believe it’s enough for you to give up on trading with this bogus firm.
Finally, the company claims to be Swiss-based in the Contact Us section yet has no FINMA, ASIC, BaFin, FCA, or any Tier1 license.
How Unsafe Is An Unlicensed Broker?
Unlicensed brokers have no advantage. While they may offer more attractive trading conditions, it’s just a lure to hook you up and steal your funds. In reality, these firms are dangerous and can vanish at any given moment, and you will have no authority body to reimburse you.
Is Trader Powers a Trustable Broker?
Traders Powers is not a legitimate brokerage. The firm is based in St. Vincent and the Grenadines and has no license. In addition, a license from Moheli, Comoros Union, is invalid.
Traders’ Experience With Trader Powers
Traders don’t have a good experience with Trader Powers, as expected. Based on reviews, this firm is nice and has a terrific support team while you’re trying to deposit. Once you submit a withdrawal request, you may be delayed until the moment you find yourself unable to access funds. The same terrific support from the start of the story will stop responding, and you’ll have nowhere to complain.
What Platforms Are Available With Trader Powers?
The firm enables trading on MT5. However, it’s only a web version and belongs to another trading firm – Stockton. This same firm provides MT5 to BBanc, so it’s clear that Primis LLC and Stockton Ltd have some sort of a deal.
Exposing your funds to third parties is never recommended. It means that another brokerage can access your trades and funds, and there’s nothing you can do about it.
Screenleap – Access To Your Bank Account
According to Trader Powers reviews, this firm prompts customers to download ScreenLeap. It’s an app similar to AnyDesk and TeamViewer, enabling broker employees to access your device remotely. Once they control your PC or a mobile device, they can easily access your online banking. We don’t need to tell you what happens from there.
Trader Powers Accounts Overview
Customers can choose one of the 5 account types. They are:
- Bronze – $1,000
- Silver – $10,000
- Gold – $25,000
- Platinum – $100,000
- VIP – $250,000
Accounts differ in free withdrawals, spreads, third-party professional trading signals, and more.
Trader Powers Broker – Countries Of Service
Reviews show that Trader Powers broker mainly targets residents of:
Wherever you are, note that you’re dealing with an unlicensed cyber-fraud.
Trader Powers Range of Trading Instruments & Markets
Customers can trade in the following markets:
- Forex – EUR/USD, GBP/USD, AUD/CAD
- Commodities – gold, silver, oil
- Stocks – Amazon, Apple, Google
- Cryptocurrencies – BTC, ETH, XRP
There are no indices.
What Do Trading Terms Trader Powers Provide?
The broker is pretty cryptic in trading terms. We know nothing about spread and leverage, meaning that you cannot do any risk management or plan your investing. There are no Terms and Conditions that would clarify some basic things.
Minimum Investment Amount
The firm requires a minimum deposit of $1,000, which is rather high. The industry average is $250, while some legitimate brokers allow you to start with as low as $5. Thus, all the reasons to avoid the Trader Powers scheme.
Trader Powers Fees, Payments, and Withdrawal Methods
There are only two available payment methods:
- Wire transfer
Since none of these methods is eligible for a chargeback, not to mention the complexity of tracing crypto, it’s clear that this firm has one goal – to take your funds and not return them.
Since there is no T&C or a Withdrawal Policy, we know nothing about fees and commissions.
Scammed by Trader Powers Broker? – Let Us Hear Your Story
If you or someone close to you falls victim to a Trader Powers scam, let us know. Our specialists are here to hear you out and help you recover your hard-earned money. Despite wire transfers and crypto transactions not being eligible for a chargeback, there are different methods. You can recall a wire transaction or trace stolen crypto.
Contact us via online chat to book a free consultation. We will evaluate your case and give you all the information regarding this matter. Act quickly and increase your chances of getting your money back.
What Is Trader Powers?
Trader Powers is an unregulated offshore Forex and CFD trading brokerage.
Is Trader Powers a Scam Broker?
Trader Powers is a scheme firm without a license. The owner is blacklisted in Spain for scam activities.
Is Trader Powers Available in the United States or the UK?
The firm operates in both the US and UK without regulations.
Does Trader Powers Offer a Demo Account?
No, Trader Powers doesn’t offer a Demo account, only Live ones.