CitiTrader
  • CitiTrader

  • Bonus: up to100%
  • Options Payout: 65-75%
  • Rating: 1 / 10
 
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Broker Name: CitiTrader
Platform: SpotOption
Founded: 2011
Bonus: up to 100%
Return/Refund: 65-75%/0-10%
CitiTrader Overview
No. Of Assests: 83
Regulated: No
Demo Account: Yes
Minimum Deposit: 300
US Traders: Not Accepted
Read Users Reviews

CitiTrader Review

Notice – CitiTrader Shuts Down Operation

 

Why Does CitiTrader Suck in 50 Words

The first rule you never break as a business, any kind of a business- if you promise your customers the best of something, education in CitiTrader’s case, you must provide it. If you claim your main goal is to educate, then where is the education?

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Why CitiTrader doesn’t Suck in 50 Words

Not a lot of good words to spill upon CitiTrader. The Trading platform is great, the promotions are good and the returns are fine. Not enough in my opinion.

CitiTrader Full Review – Only claims to have the Best Education

CitItrader, Launched on 2012, is based on the most popular Binary Options trading platform today, SpotOption. The technology is of course a 100% web based so there’s no need to download any software. CitiTrader, very much like most new binary options brokers, is offering more or less the same 60-75% returns on In-the-Money; same refunds in case of a loss and of course, the same familiar SpotOption platform. The technology used by CitiTrader is one of the best available today in market, that’s exactly the reason why most of the newer brokers are using this platform. The thing is there are so many fresh brokers out their today, the majority of them are based on the same platform, so each company has to work very hard to separate their brand from the others. Some brokers did an excellent job promoting their brand, making it different than others. There is no easy way to do this, it all comes down to money. Some brokers invest their profits in upgrading their trading platform by developing trading options and tools (the best brokers), some brokers offer great bonuses and promotions (not my favorite kind of a broker) and other brokers market their brand pretty well.  I can keep on going like this the whole day, but you’d miss the point. As long as the broker promises you his trading tools are great or if the brokers promises you extra bonus and keeps his word- that’s OK, it’s blessed. But if a broker like CitiTrader claims to have the best education and so eager to educate its customers with the best knowledge available, then where the hell are all the learning stuff?? The educational materiel I’ve seen was the how to deposit FAQ. Sorry CitiTrader, but if you claim to be so educational, you should try a bit, sorry, much harder.

Is CitiTrader a Scam?

Just because they claim to have the best education, it doesn’t mean that if they don’t they are a scam. That’s a big thumb down for CitiTrader, especially since beginners will not have the appropriate Binary Options education. But should beginners even want to trade with CitiTrader? I don’t know. There are a few problems I located: first, not only that C.C. and wire transfer are approximately 50% of the deposit/withdrawals methods, there’s something very odd with the withdrawal options. The max amount of withdrawal via C.C is the same as the initial deposited amount, the rest of the profits are only available to withdrawal via wire transfer. The problem is that the min amount for wire transfer is 500$, plus a 25$ fee. What happen if I have 300$ in my account? Should I lose 100$ or try to make another 200$? I guess those questioned should be referred to CitiTrader support. I recommend consulting CitiTrader support before depositing money. About the education, I hope CitiTrader will invest some money to develop good education for all traders just like they promised.

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CitiTrader Complaints

The first thing every beginner trader should do before depositing cash into a binary options account is to check out the broker’s background and costumers comments. At BinaryOptionsthatSuck.com we do the research for you, this is what we found when looking for CitiTrader scam, fraud, complaints and more: we found bad comments from CitiTrader clients, both on forexpeacearm.com, one of the most respectable forex reviews websites and on other forums as well. These are bad signs.

CitiTrader Withdrawal and Bonus

There are some issues concerning the withdrawal, please read above, on the Full Review text, for more info.

CitiTrader Ratings

User Friendly 9/20

Cititrader website offer 100% based SpotOption trading platform. The platform is very modern and user-friendly. The overall design is not attractive, seems a bit bogus. There’s a problem with the FAQ menu, some questions are not answered or bad links. The site is available in 4 languages, including English, French, Arabic and Hindi.

No. of Assets and Expiry time 15/20

Total of 83 assets: 14 currency pairs (Forex), 7 commodities, 28 Indices and 34 Stocks available to trade is above the average amount of assets. There are quite a lot of expiry times, also touch options for weekends.

Commissions, Support and Effective return 7/20

CitiTrader do not charge any fees while depositing. There is a charge of 25$ for wire transfer, all profits should be withdrawn by wire trandfer. The Effective return is around 70%, which is average; the Out-of-Money is around 5%. The support is available via 1 international number, toll free, in English only.  The live chat support is mostly selling support.

Deposit, Payment and Bonus 7/20

Depositing is available via credit cars, wire transfer or Cash-U only. The minimum deposit is at least 300$ for initial deposit, the minimum withdrawal via C.C. equals the initial withdrawal deposit, minimum withdrawal for wire is 500$. Min Investment is 20$. The bonus is quite extensive, up to 100% plus other promotions.

Website Extra’s 12/20

CitiTrader, based on the modern SpotOption techonoly, enjoy the fine trading tools and trading options available on this platform. That includes- Option Builder, 60 Seconds, rollover and close now options. The market reviews are out of date, should be updated more common.

CitiTrader overall Score: 50/100

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