Power-trade.co Key Facts
🔴 Power-trade.co offers questionable investment opportunities – a clear sign of a scam!
🔴 Power-trade.co forges crucial contact information – beware!
🔴 Power-trade.co lacks the appropriate license for the provision of its services – a huge red flag!
🔴 Power-trade.co's domain has been registered quite recently – another off-putting detail!
Power-trade.co products and services
Power-trade.co is a scam that hinges on promising incredibly lucrative investment plans to its users – the company claims to be able to achieve profit rates of upwards of 10% daily. There is not a single company out there that can actually guarantee such rates – Power-trade.co is simply trying to get as many of its clients' deposits as it can with fales promises of profitability.
People should always be cautious when dealing with businesses offering enormously high yields because it's scammers' trait to promise big and create unrealistic expectations. In reality, regulated financial companies cannot secure more than a few percents annually with their fixed-income products. There is a huge discrepancy between these offers and the regulated companies standards. Judging by the products and services they sell, we suspect it's a scam, so beware.
Power-trade.co company and regulation
Power-trade.co is not a licensed company – although it presents us with a certificate from the UK Companies House. The House is not qualified to issue licenses – that is the job of the British FCA. And Power-trade.co does not feature in the FCA online database.
The US financial services regulation is very complex in the USA. Derivatives markets regulation is a responsibility of CFTC and NFA. Forex brokers and most of the investments companies have to be NFA members and CFTC registered to operate in the USA. On the other hand, securities markets are controlled by the SEC, a government independent agency responsible to maintain the integrity of the financial markets.
While SEC focuses more on the procedure regulation insisting on financial reports and management discussion and analysis, NFA and CFTC impose pretty straightforward requirements. To become authorised the companies have to provide 20 million USD in paid-up capital, which is considered a guarantee that the businesses can survive in turbulent times and pay whenever they have to.
Other customer protection measures include clients’ accounts segregation and leverage restrictions for forex brokers- 1:50. Also, CFTC brokers’ clients are not allowed hedging, which is one of the very unique US features. Unfortunately, the cryptocurrencies regulation is still inept, so traders and investors should be wary when dealing with crypto offers.
Power-trade.co address and contacts
Power-trade.co has listed a Norwegian address – Ymersvei 12 Sellebakk Norway, as well as a British one, 20 Sumner Road London England SE15 6LA. The company is not licensed to deal in any of these two locations, but we would like to draw your attention to the fact that other scammers have also tried to use the UK address in the past – here are the reviews for said scammers:
The phone number that the company presents (44 20 37699828) is also fake – it has the UK area code when Power-trade.co lacks a UK license.
Transparency is crucial when talking about brokers and investment companies, and it's part of the regulatory framework. The regulated companies are open to financial authorities following certain transparency rules, so it's generally unlikely to conduct fraudulent activities. They are also bound to provide the public with crucial information about themselves, making it easy for traders and investors to confirm the company's legitimacy.
Power-trade.co website info
Power-trade.co's domain has been registered in November of 2020 – this means that the company has not been operating on it for over 1600 days as is claimed on the website. The IP address it is hosted on, 220.127.116.11, is from the States and co-hosts 709 other domains. None could be connected to Power-trade.co at time of writing, however.
We should also mention that Power-trade.co does not show up on SimilarWeb, which can only mean that the company operates in relative obscurity. This is yet another scam sign.
And finally, the owners of the website have covered their tracks, hiding themselves from WhoIs lookups – which is quite obviously another way in which Power-trade.co fails to live up to standards of transparency we consider to be commonplace these days.
We paid utmost attention to the regulation and transparency in the sections above because it’s mandatory for trading and investments. Pretty much each company offering financial services have to be authorised by the local financial authority.
However, some entities operate unlicensed and intentionally run investment fraud. It would be best if you only dealt with companies authorised by the regulators, so always check to make sure they are. Bear in mind that if you trade with unauthorised businesses, you won’t be protected, so it’s very likely to suffer losses almost impossible to recover if things go wrong.
Online scam is trending nowadays with fraudulent websites popping up literally every day. The financial authorities increase the number of warnings issued year after year, but the dangers are still out there and growing exponentially. You’ll realise the hazards when you consider OneCoin scam- it’s still impossible to calculate the total loss, but it’s regarded as 15 billion worth fraud. Make sure to trade with licensed and regulated companies to avoid off-putting losses.