CTOption scam? Read this review first!

CTOption review

CTOption has been registered in the UK under InfiniCore Ltd. CTOption's office is in London (1st Floor, 2 Woodberry Grove, Finchley).

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This broker is not subject to any regulations, but the website's "About us" section did include a curious piece of information regarding its payment methods being regulated by Financial Conduct Authority (FCA). Since it's just like saying that a bank has a banking license, we had inquired about it and that wonderfully quirky piece of news has been somehow deleted. We actually tried to follow up on that payment service but to no avail.

Still, CTOption is unique not only because of that curious case: it's not a typical offer and it stands out amongst other brokers.

CTOption offers three types of accounts: Mini, Standard and Executive. The minimal deposit with Mini is $250. Once we deposit the money, we get a welcome bonus and weekly market news. To open a Standard account we need at least $500, but we get a personal assistant. Naturally, you get the most with the Executive account: daily market news, a chance to win quite expensive prizes, no transaction fees, withdrawal priority and a specialist's support, but it requires $10,000. You can also open a fully Sharia-­law compliant account for those who want to obey the law.

You can go with USD, GBP or EUR.

What's also important is that you can open many accounts, as it's not frowned upon.

The website is available in 8 languages: English, Italian, German, Japanese, Arabic, French, Spanish and Turkish.

CTOption platform

One CTOption's essential qualities is using PandaTS – a unique platform created by Panda Trading Systems Ltd., a leading financial software provider mostly known for Forex-­related technological solutions. Since the platform has been used in the currency exchange for years, it's extremely technologically advanced. As far as the visuals go, it's clear and interesting. It can be directly connected and integrated with MT4 platform. There's a variety of binary options available: high/low, one-­touch, boundary and the more and more popular short-­term options: 30 seconds, 60 seconds, 2 minutes, 5 minutes and 10 minutes.

The expiry dates available are optimal for short-­term options, but those who go for long-­term options won't be as satisfied: the longest expiry time is about 2 months.

Demo account is yet another of CTOption's advantages: it's a 48hour offer which is free of charge and works regardless of any active deposit, which is usually necessary for a demo account to kick in. We get to play without any consequences, just to test our strategies in reality. We also get to know the practical aspects of the platform and we can decide whether we like it – be it visually or technically – and it all costs us virtual dollars only.

Yet another interesting addition to the platform: the replicator tool which enables following the best players and copying their moves on your account. Like the idea? Just copy and paste the best players' results and go with them without thinking. It should be said, though, that this very tool may also be the platform's biggest flaw. Yes, you can start earning without knowing anything about the binary options whatsoever, but making this option available is curious since, as we know, a broker earns when users lose. Which is why we asked the support about that and here's their answer: Unlike other brokers, we do not animate the market. With us, it's the bank whodoes that, we give everything else. In return, we get the commision on each of the client's open positions. We couldn't verify this, so take it with a pinch of salt.

CTOption platform is also known for minimal delays when it comes to the actual market prices (1­-2 pips) – one of the most important qualities of a good broker.

CTOption deposits and withdrawals

CTOption offers a wide range of payment methods: credit cards, Skrill, neteller, bank wire, CashU, WebMoney, Yandex, MonetaRU, MoneyNet. Withdrawals are handled through the systems used to deposit.

Verifying the account immediately after registration means avoiding any later problems with payouts. It's a simple process: send a copy of your passport or ID to verify your personal data, a bank statement or a bill to verify your address. It's wise to give the real names and addresses when registering so that you avoid any problems with verification.

DEMO account

Brokers rarely offer demo accounts for free. A common excuse is the unwarranted server burdening or the emotional difference between playing for real and using a demo account. When it comes to CTOption, a demo account is a standard service. What's more, you do not need to pay the deposit to start using a demo account. Bear in mind, though, that the account is available for 48 hours only. Still, you get to have a personal account manager helping you along.

Client support

If you wish to contact CTOption use the e­-mail, phone or chat, available 24 hours, 6 days a week. Still, despite the long hours we've experienced a spotty support: sometimes they answer, sometimes they don't, but all in all the help is rather suficient.

Educational materials

How you get to educate depends on your account. What's standard? A guide to CTOption platform, a glossary, a dictionary, e­-book, some tutorials and a basic course. The "higher" your account, the more you get.

Bonus

CTOption offers a bonus up to 100% of the deposit.

CTOption SCAM?

We have no grounds to suspect any scams. We haven't received any complaints from the users on the payouts. On the contrary, they claim that the transactions are handled smoothly.

The only controversial aspect in our opinion is the broker's Terms and Conditions. Specifically page 9, par. 5 according to which the broker may rescind an option whose value is higher than 5% of our deposit. Supposedly it is so that the broker protects us against ourselves, but the broker "may or may not" use this clause, so it "may or may not" happen that only our wins will be rescinded. Which is why this could be a loophole used to restrict those traders who are too good at winning.

Please use our contact form if you encounter any problems that haven't been resolved by this broker and you became a member thanks to our service so that we can be your go-between in resolving the issue successfully. Please go into as much detail as possible; you may include your correspondence with the broker.

Summary

CTOption is a relatively fresh player on the market – given the recent change in the service's ownership. The broker has many strengths, e.g. the platform PandaTS, demo account access and a replicator, but it must be pointed out that the broker is not subject to any regulations. On the other hand, this is why it's accepted by the US users.

Since the Terms and Conditions are quite imprecise, the broker might use them to abuse the system. All in all, in our opinion this is an interesting broker, but proceed with caution.

Discussion forum and opinions

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Broker details
Broker’s name CtOption
Website url www.ctoption.com
Start of 2013
Country of registration United Kingdom
Regulation none
Platform PandaTS
Markets Forex, Indices, Stocks, Commodities
Options High/Low, One Touch, Boundary, Short Term
Assets 62
Deposit methods credit card, Skrill, neteller, wire transfer, CashU, WebMoney, Yandex, MonetaRU, MoneyNet
Withdrawal methods credit card, Skrill, neteller, wire transfer, CashU, WebMoney, Yandex, MonetaRU, MoneyNet
Deposit min. $250
Min/max stake $5/$5000
Withdrawal min. $10
Deposit/withdrawal fee once a month – free, $30 every next
Profit up to 85% (classic), one-touch: up to 500%
Account currency EUR, USD, GBP
Bonus up to 100%
Failed transactions refund 0-15%
Demo yes, with no deposit, for 48h
On-line support yes
Languages English, Italian, German, Japanese, Arabic, French, Spanish, Turkish
US traders yes
Expiry times 30 seconds, 60 seconds; 2 minutes, 5 minutes, 10 minutes
Educational materials guide, glossary, course videos
Mobile trading yes (Android, iPhone)

CtOption rank

  • Platform: PandaTS
  • Launched: 2013
  • Registration: United Kingdom
Withdrawal execution
Platform
Support
Functionality and look
Reliability
Payment methods
Educational materials
Return
Assets
Average

User Rating:

4.1/5
(1 votes)
  • Platform: PandaTS
  • Launched: 2013
  • Registration: United Kingdom
Withdrawal execution 80%
Platform 90%
Support 50%
Functionality and look 90%
Reliability 70%
Payment methods 80%
Educational materials 74%
Return 60%
Assets 80%
75% Average

User Rating:

83
(1 votes)

Pros
  • Free demo account
  • Stable and unique platform
  • Replicator
  • You can open multiple accounts
  • Training materials for beginners
  • US accepted
Cons
  • No regulation
  • Vague terms and conditions

 

 



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