CTOption is a brokerage that offers a binary options trading platform. This broker opened its doors in 2010 and is operated by InfiniCore Ltd. In addition, according to their terms and conditions, the broker is also run by Ninety Nine Research Assets Ltd, which is a virtual office in Anguilla. The company is not regulated by any regulating entities, and there are also numerous warnings against the broker to be found online.
The brokerage uses the Panda Trading Systems platform, and they have an auto trading bot. You can get started with this broker with either a real account or a CTOption demo account, which allows you to gain experience on the platform. When you are ready to deposit some money, the minimum deposit is $250. The available currencies are British Pound, US Dollar, and Euro, with various banking methods available. These include wire transfer, Skrill, Neteller, Sofort, Credit/Debit Card and GiroPay, among others. The platform also has a binary trader replicator, a feature that enables you to auto trade or copy trades directly from skilled traders. To understand more about the brokerage and whether it is a reliable trading platform, check out further in this CTOption review.
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Is CTOption A Scam? Is CTOption Regulated?
One of the major things to look for in stock brokers before you entrust your money with them is whether or not they are regulated, and who by. Brokers regulated by legitimate and reputable authorities are safer and legit. Regarding CTOption, it is neither licensed nor regulated, regardless of the fact that it has been on the market since 2010. This raises issues with its credibility, and there are also other reasons why you should steer clear of this brokerage. First and foremost, when you register with the site, you are offered a 300% match-bonus that you can either accept or decline. If you accept the bonus, you cannot withdraw your money until you trade a volume of 1x of the money you deposit plus the bonus. This is quite an inconvenience if you want to withdraw your money, especially if you are not contented with the services.
The other big problem is their withdrawal terms and conditions. The minimum amount that you can withdraw is $100, and you are forced to fill out a form, and then print, sign, scan and email it to the financial department. This process is not only tedious but also time wasting. Feedback relating to their customer support is poor, and this is another warning sign that the site may not be run by trading professionals. Their credibility is further questioned by their account managers, who have been accused multiple times of trading without traders consent, leading to losses. With so many negative reviews, whilst it is by no means proof, these issues are sufficient to warn about a CTOption Scam.
Alternatives To CTOption
Online trading is flooded with many brokers, giving you wide options to choose from when looking for a legit brokerage. You will find a huge selection of regulated brokers, with each offering different services and experiences. The amount that you can trade with will vary from one broker to the other, so make sure you settle for the one you are certain suits your financial capability and preferences. Since CTOption is not transparent, you can try 24Option, which is one of the oldest and most trusted brokers. It has a long history of offering unparalleled trading services. Also, take time to go through our IQ Option review, to get more insight about this reputable brokerage which was founded in 2013.