Hi,I'm Zoey and I'll be assisting you. I'm reviewing your question now. Please be patient while I research and compose a reply for you.
Your country chooses not to regulate binary option brokers the way they regulate other types of investments, since binary trading is more like gambling than like trading in stocks. Many Australia-based binary option brokers register with ASIC anyway, as a sign of their good will and legitimacy. Pwrtrade is based outside of your country. Their website says they are in the Marshall Islands and Bulgaria, which may or may not be true. Unless they are regulated by some other country's financial regulatory authority, they are operating outside of the law, strictly on their own terms.
All unregulated binary option brokers make their own rules, regardless of their advertising and their contract with their members. They are very risky to deal with and virtually all scammers. And when they trade off all of your account without your authority or when they won't allow you to get your winnings out, you generally can't even find them to sue them.
We hear horror stories every day from people who have lost money to unlawful binary brokers just like this one because they fell for promises of huge returns and they didn't deliver.
This is a new binary broker. It will turn two in March, when its domain registration will run out and it could disappear from the web. Their early advertising indicates that they intended to register with CySec, the regulatory agency in Cyprus, as Cyprus does regulate binary brokers. However, to date they have not done so. You can search CySec's data base and see that for yourself here.
So this is just one more fly-by-night unregulated binary broker.
Scamwatch.gov.au warns Australians about dealing with any binary options broker that does not have an Australian Financial Services license.
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