Forex broker Power Trend is a growing Russian broker. They are growing fast, and many professional and new traders notice them and start to wonder whether they are worth checking out or not. To that end, it’s everyone’s own business. In this article, however, we’re going to go through the main advantages and disadvantages of working with them.
It’s a good place to start trading, although it’s not perfect. There are many brokerage providers who simply take the money you earned fair and square and refuse to give them back during withdrawing sequences. Being a trustworthy provider is already a huge perk for this industry.
But it’s obviously not all they got to offer. This PrTrend rezension will help you figure out what Forex broker PrTrend really is.
What is Power Trend?
Power Trend website has been around since 2013, when it was launched by the Russian company called Mirach. Trading is very popular in Russia, so they obviously had a lot of competition. The fact that they are still going strong already signifies that they offer decent deals.
Despite being a Russian company originally, this broker provides a lot of trading offers and tools from all over the world, including a lot of the top American and European indices, and this variety can’t be underappreciated. But more on this note later.
Power Trend official site has several tools ready for trading, including:
- Currency (Forex)
Indices are only available with starting with $5,000 deposits. For that, you’ll have to sign in PrTrend. Proceed to the icon in the top right corner, fill in the Power Trend login menu and get your PrTrend login. After that, start depositing.
They decided to fit most of the stuff trade usually get to trade, and it’s pretty much all you need for a variable and successful trading experience. They might add more tools, like separate futures and options, but they are only available for some main tools categories.
For a beginner, that’s a pretty good place to start a career. For an experienced trader, there’s still a lot to go around.
Trading here is beneficial for several reasons. The broker generally emits a favorable atmosphere, but if one was to concretize this favorable attitude into several chief points, that’s what they’d get.
As you’ve witnessed, PT has several popular asset types up for trading, but if the pool wasn’t also deep, it wouldn’t be a good assortment. And they did provide more depth to their assets.
Stock. There are about 700 companies listed in the array, including the big American, European, Asian and Russian issuers. You can pretty much trade any of these, although the spreads might be too loose on some of them. It’s your choice, however – the broker gives all the information beforehand.
Indices. There are 11 indices from all over the world. Each tool represents the individual index that keeps updating constantly and whose purpose is to show how well the companies (and shares, therefore) of various markets, areas, and so forth are doing. There list includes indices from America, Germany, France and Europe as a whole.
Commodities. There are 7 of these – they unite metal, energy and product commodities. You basically bet on whether or not the value of physical foodstuff, precious metals or oil will rise or fall.
Crypto. PT is not specifically a crypto broker, but they have some very interesting coins. Most of them are well-known and on demand, but a few of them aren’t as familiar.
Forex. There are 22 currencies, including both the very popular and always relevant names like USD, EUR, GBP, but also riskier and more interesting options from Hungary, Switzerland, Russia, New Zealand and many more.
Setting up a new account somewhere else just to trade an asset that the initial broker failed to provide is tiring and unpleasant. You won’t get all the tools in existence, but there is a fair share of them, including the most popular products.
- Low commission
The commissions here are very sparing. There are actually only a small handful of occasions on which fees will be charged.
It doesn’t include deposits or withdrawals, for the most part. Some commission will be taken if you use bank wire to do either of these actions, but it’s going to be the bank commission, the broker doesn’t take anything. The same goes for the card payments and physical payments, although without bank or any third-part commissions.
The only other type of commission that exists on Power Trend website is the rolling commission, charged if you leave the position overnight. It constitutes up to 0.015% of the position’s value (0.5% for crypto).
- Learning materials
PrTrend official site has a lot of extensive training materials. They are also versatile and suit many purposes – including several analytical instruments.
Economic calendar. That’s one of the more useful things for learning purposes. It shows the changes in the Forex market through events that take place in the respective countries of each currency’s origin. Some of them don’t have a direct financial meaning, but most of them affect the market in some way.
Economic news. This section is similar to the economic calendar above. However, it is different in that you’re not given any numbers or precise expectations. You are given a summary written by a staff member, but it’s up to you to figure out what any news means and what to do with this information.
There is also an educational center that includes webinars, tutorials, articles and an extensive glossary – a wordbook with many terms and phenomena descriptions which you’ll surely encounter down the road.
If you can’t trust the broker, it’s no good trying to trade with them. Well, Power Trend is trustworthy enough. They are registered with the authorities and are validated by FMRRC – an unbiased influential agency that keeps a watch out for untrustworthy platforms and PrTrend from cheating.
There aren’t too many user Power Trend rezensions out there, so there’s ultimately no telling whether you’ll be scammed by Power Trend or not – but chances say you won’t.
There’s just one downside, really. The smaller ones have already been mentioned here and there. The only big disadvantage is how big the spread may be. They are pretty tight for some of the more popular assets, but you should be careful with the tools that meet less demand.
At least, that’s what Power Trend reviews say.
Some people claim to have been scammed by PrTrend, but these claims are sporadic and might just be technical issues associated with withdrawal algorithms. PrTrend aren’t scammers, most likely. If they were, they wouldn’t have been verified. So, PrTrend isn’t a scam.The entire Power Trend scammers subject actually remains to get developed. Power Trend scam has yet to be caught, and it’s probable that Power Trend aren’t cheating.