Power Trading Limited (known as Baolong Securities in Chinese) is an online forex brokerage established in 2013 in Hong Kong. Its official website does not provide any regulatory information and lacks key details such as account types and trading product specifics. Power Trading Limited exhibits low transparency and security levels. The current official website is: https://powertradingltd.com/.
The Corporate Background and Regulatory Information of Power Trading Limited:
Power Trading Limited was founded on January 18, 2013, headquartered at Unit 225-22, 2nd Floor, MEGA CUBE, 8 Mong Kok Road, Kowloon Bay, Hong Kong. However, the domain registration date is December 27, 2023, which shows a significant discrepancy with the company's establishment date. Notably, the official website does not provide any regulatory information, raising concerns about the company's transparency and compliance among investors.
The Account Opening Process at Power Trading Limited:
To open an account with Power Trading Limited, follow these steps. First, visit the official website of Power Trading Limited and click on the "Login" button found on the homepage. Then, find the "Create Account" button and complete the registration on the website's registration page. After registration, you will receive an automatic email containing your personal account login information. Use this information to log into your account and proceed to deposit funds. Finally, download the trading platform and start trading.
Account Types at Power Trading Limited:
Typically, financial service providers detail the different account types on their official website, allowing clients to choose the most suitable account based on their needs and investment experience. These accounts may include standard accounts, mini accounts, VIP accounts, etc., each with its distinct features, commission rates, and minimum deposit requirements. However, Power Trading Limited does not provide this information on its official website.
Trading Products at Power Trading Limited:
According to scant information on the official website, Power Trading Limited offers forex, commodities, and indices as trading products. However, the absence of specific pages or detailed descriptions may leave investors in the dark about crucial trading conditions such as leverage ratios, spreads, and trading hours.
Trading Platform at Power Trading Limited:
Power Trading Limited employs the MetaTrader 4 (MT4) platform, known for its reliability and comprehensive suite of trading tools. MT4 features a user-friendly interface combined with advanced chart functionalities, making it the top choice among traders globally.
Spreads and Commissions at Power Trading Limited:
Although Power Trading Limited claims to offer trading services, its official website does not provide any information regarding spreads and commissions. This lack of transparency makes it difficult for users to understand the costs and fees associated with trading, impacting their decision-making process.
Deposit and Withdrawal Methods at Power Trading Limited:
Furthermore, Power Trading Limited's official website also lacks transparency in announcing deposit and withdrawal methods. This absence of crucial information may concern users about the safety of their funds, as they remain uninformed about how to deposit or withdraw funds and the available payment options. Such transparency issues could affect users' trust and experience with the platform.
Customer Support at Power Trading Limited:
Phone: +852 90190106
Email: admin@powertradingltd.com
Summary:
Power Trading Limited presents numerous potential risks and uncertainties, including unclear information regarding account types, trading products, spreads and commissions, as well as deposit and withdrawal methods, with customer support also lacking in transparency. When choosing a trading platform, investors should be extra cautious and ensure they opt for platforms that offer ample information, high transparency, and regulatory compliance to safeguard their trading and financial security. Currently, Power Trading Limited is flagged as "Suspected Fraud" on TraderKnows.
