POWER 2 FX is a non-regulated broker we advise against trading with, despite the seemingly attractive deals it offers.
POWER 2 FX fails to provide regulatory and licensing data, which is a significant scam indicator as legitimate brokers typically display such information prominently to instill trust and transparency. Furthermore, this broker is required to obtain authorization from the Financial Conduct Authority (FCA) before soliciting potential investors since it claims to be located in the UK. However, the FCA has warned the public that it is not authorized and regulated by the agency. You can access the full warning here. As such, any offering of financial products or services by POWER 2 FX is illegal.
Regarding your question, POWER 2 FX is untrustworthy since it is not supervised by any regulatory body. Once your funds and personal details are controlled by this trading platform, there are no safeguards to protect them. You may suffer the loss of funds or identity theft, which could be financially and personally devastating. Therefore, we strongly suggest investors avoid dealing with unlicensed brokers like POWER 2 FX and opt for fully regulated ones instead.
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