Clearing services are managed by InfiniCore Ltd. Anguilla, the Mason Complex, 2nd floor, company number is CTOption is operating like a scam according to all the complaints we have found. You have to read the terms and understand what you are getting in to and I never recommend getting into a bonus. You might want to go through Terms and Conditions before you decide to take a bonus, unless you want to might become another victim of your own will.
That really sucks, and raising some questions regarding CTOption reliability. And moving on to what really hurts their credibility: More and more scam reports have appeared in the last period and people complain about account managers trading without their consent and losing their money.
Upon further investigation in , we found many more complaints regarding depleted accounts once clients requested for withdrawals and this is a big sign that CTOption is a scam broker. CTOption is based on PandaTS, a leading provider of software and platform solutions for Forex and other types of financial institutions. You should probably avoid this broker.
They are already warned against for un-authorized activities by many authorities worldwide and some stories told by many of their former and current clients suggests they have no intention to simply process your withdrawals.
The platform itself is good and well equipped. Hyper Trading is their name for 60 second trading and other super short term expiry. CTOption may have the broadest offering in this class including 30 seconds, 60 seconds, 2 minutes, 5 minutes and 10 minutes expiry.
The asset list itself is also pretty good. The only thing I really see missing are the Asian indices. There are 4 commodities including gold and oil and a basketful of international mega corp stocks.
In conclusion, CTOption will do everything to make sure you lose your deposit. These complaints can be easily found on the main online forums, including ours, in the dedicated thread: The complaints have multiplied since we last checked and the stories now line up: Bonuses are always a point of contention between the brokers, reviewers and traders.
In fact, it may be one of the worst, or at least the hardest to understand, bonus policy I have seen. Keep in mind that the total trading volume will be reset to zero if you are granted another bonus. Latest findings from Remember that the dormant fee is 50 currency units. To make matters worse, only specific investment sizes are accepted as trading volume and there is a time limit. As mentioned earlier, the bonus terms are probably the worse we have witnessed in this industry and the most complicated.
CTOption withdrawals are a little bit complicated if not outright impossible most of the times. They highly recommend using a single source such as a single bank account, credit card or eWallet in order for easiest withdrawals and compliance with AML laws. Ewallets have the quickest withdrawal; they will clear to your account in under 2 hours once processed days max for others.
However, judging from what we learned above, a withdrawal from CTOption might be as hard as getting blood from stone. The minimum withdrawal is now account units. The processing fee goes up to 50 account units and we strongly recommend reading their full Withdrawal Policy because they charge all sorts of fees and you should be familiar with them. CTOption is a user friendly platform. The layout is intuitive; the trading screens are easy to understand. There are also no downloads required.
The broker also includes lots of educational and analytical material including articles, ebooks, and daily updates but to gain access to most of them you need to open an account first. CTOption has a very very good asset list with over assets. It is not the best and has some limitations but still very good. The list is Forex heavy but that is no surprise as most binary traders come from the Forex world. All the major indices, commodities and stocks are present except for those from the Asian markets.
I say OK because it is good for day traders and super short term traders but not so much for longer term traders. Long Term binaries are now available but not for all assets. After opening my demo account I tried to use the live chat to answer a simple question and got nothing after the hello. Fees are not limited to withdrawals and are a bit excessive. We strongly recommend you check out their fee structure in their Terms and Conditions.
Overall, the bonus terms and the entire terms and conditions are a big mess and hugely unfavorable for traders. Check out our Recommended Binary Options Brokers. Binary Options That Suck. Please be noted that all information provided by Binary Options that Suck are based on our experience and do not mean to offend or accuse any broker with illegal matters. The words Suck, Scam, etc are based on the fact that these articles are written in a satirical and exaggerated form and therefore sometimes disconnected from reality.
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