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CT-Trade Review - is it scam or safe?

CT-Trade review - is ct-trade.com scam or safe forex broker?

RATING: 1.1 / 0 REVIEWS CT-Trade
CT-Trade is not regulated. We cannot guarantee your money is safe.

CT-Trade is a binary options broker situated at Shelton Street, London, United Kingdom. We see great risks in dealing with this brokerage – read the whole review to find out how we came to this conclusion! 

 

Account types Minimum Deposit Spread Leverage
Take off $250 N/A N/A
Standard $1000 N/A N/A
Premium $5000 N/A N/A
VIP $ 10000 N/A N/A

 

Disadvantages 

 

Clumsy “regulation”

 

CT-Trade is a unique case when it comes to regulation. It states on its website that it is regulated by Citibank Europe plc and even gives a reference number 211646 which is quite intriguing since what this means is that the brokerage falls under the regulatory supervision of a private company. Of course, no such regulation exists and this is only a very clumsy way to mislead potential clients into thinking it has something to do with Citibank. Actually, the European Securities and Markets Authority came out with a statement where we read that they have come to an agreement to prohibit binary options brokers in Europe. Technically, CT-Trade is operating illegally. All this blows the brokerages already flimsy credibility to pieces. We must emphasize the dangers in trading with an unregulated entity. Most important of all is the complete absence of assurance for the safety of the clients funds. Potential clients may only count on the word of the brokerage and, as we have shown, the brokerage itself does not mind giving us enough reasons to doubt its word. Here is a screenshot of the stated regulation:

 

 Click to zoom.


Furthermore, binary options trading is itself a highly risky enterprise (prohibited) in Europe. However, if there are traders interested in such trading, we advise them to check out our recommended licensed binary options broker in Australia Highlow. 

 

>>Licensed binary options broker Highlow<<

 

Low pay-outs 

 

CT-trade grants access to its trading platform and on it we could see that the pay out is the meager 74 per cent. This means that with an initial deposit of $10 you may reap a profit of as much as $7.40. The standard average for the industry is about 85 per cent and this certainly falls short from it. Again, we count it as a disadvantage, because there are binary brokers with better trading conditions and a higher pay out – such as the one we linked to above. 

 

Dormant fees

 

Hidden deep inside the lengthy Terms and Conditions we find that clients are suspect to dormant fees. Accounts that are inactive for a time period over more than 12 months will be charged $25. We must say that the amount is not especially high and within the bounds of reason. Nevertheless, any extra fees drive up the cost of trading and we view them always as a negative. 

 

Advantages 

 

Neat platform

 

CT-Trade provides clients with a pretty neat trading platform. It is accessible, readable and easy to navigate through. The lay out is well done, but it does lack analytic potential. Not that a binary options trader would need high-level analysis tools. It also has two modes. The first is the pay out which, as was said above, is fixed at 74 per cent and goes by the name “high and low”.The second one is more interesting: it is called “above & below” and offers traders to personally pick the strike distance. This means they may alter the pay out and increase it if they decide they want to risk it. The highest pay out in this case is 213 per cent which does offer the possibility of a substantial profit. Here is a screenshot of the platform: 

 

 

CT-Trader trading platform. Click to zoom.

 

 



Payment methods 

 

CT-Trade offers several payment methods for potential clients. Traders may deposit funds with Visa, Mastercard, Skrill, PayPal, Neteller, WebMoney and Wire Transfer. They may withdraw via the same channels. 

 

Conclusion

 

CT-Trade is an unregulated binary options brokerage functioning in England which is a bit problematic since such brokers are prohibited in Europe by the European Securities and Markets Authority. Furthermore, the brokerage attempts quite poorly to fool clients into thinking it has something to do with Citibank so as to reap the benefits of the latter’s top-notch reputation in the trading world. The pay-out is nothing out of the ordinary and the trading platform is pretty accessible. There are hidden fees for inactive accounts, but, still, they are also reasonable. All in all, we must highlight the most important aspect in which the brokerage is lacking – the assurance for the safety of the clients funds. Having that in mind, we would advise traders interested in binary options to orient themselves to licensed brokerages offering the same product. We have given a link to one such broker located in Australia.  

 

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Traders` reviews for CT-Trade

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