CitiTrader Overview

CitiTrader
CitiTrader
Bonus: up to $100%
Options Profability : 65-75%
Rating: 5 / 10

Basics

Broker Name: CitiTrader
Platform: SpotOption
Founded: 2011
Bonus: up to $100%
Return/Refund: 65-75%/0-10%
US Traders Accepted: No
More CitiTrader Basic Information

Features

No. Of Assests : 83
Regulated : No
Demo Account : Yes
Deposit Options : C.C., WireTransfer, Cash U, and more
Language : 4. Including English
Minimum Deposit : 300

Screenshots

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Review Last Updated 2013-09-10 21:15:40

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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9 Responses to “CitiTrader”

  1. Leon says:

    Many Platforms have an operator contact you even as you do a live chat. I have been waiting for Cititraders since they do not react to email or live chat. Maybe they are busy. I still give them the benefit but only until close of day.

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    • Michael says:

      Feel free to give us a call at any of our FREE numbers at yout convenience.

      Customer Support Toll Free Numbers:

      United States: 1-800-935-0543
      Australia: 1-800-763-172
      France: 0-800-913612
      United Kingdom: 0-808-189-1101
      Canada : 1-800-384-8690
      South Africa: 0-800-981-893

      Direct Lines – Trading Floor:

      United States: 1-347-753-8268
      United Kingdom: +44-20-35829965
      France: +33-170700037
      Australia: +61-28-0730504

      Fax: 1-800-935-0543

      Customer Support:
      support@cititrader.com

      Accounting & Clearance:
      accounting@cititrader.com

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  2. ai007 says:

    I have complain against cititrader VIP managed account. They have seriously mismanaged my account. Detailed analysis showed that there seems to be a deliberate attempt on their part to dry it out (bring it down) and therefore making all the efforts to prevent me from a withdrawal request. I am filing a case against them at
    http://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/

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  3. Ernestine says:

    I requested a withdrawal from my CiTItrader account September 23 2013 . TILL to this DAY November 1 2013 i HAVE NOT receive my money. I email the SUPPORT TEAM 4 times(Bianca )they will not return my email . I call the customer service number . AND SPOKE TO the manager , I could call the name but want, out of respect to him. every body gives me the runaround . warning they talk to you nasty & RUDE !!.AND THEY TALK to you like you are CRAZY. That is sad ,I PRAY FOR THEM ALL. Iwould not want too be in business to take food out of a family,s mouth . how do the SLEEP at night?

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  4. ai007 says:

    Cititrader / Citrades is scam visit Forex Peace Army for reviews:
    http://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/28200-vip-cititrader-scam-spotoptions-too.html

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  5. sanctuary says:

    I got a promotion email from cititrader, about auto trade account with minimum deposit of 1000$, so i did, then they transferred my account to VIP cititrader and automatically gave me a 100% bonus without asking me, when i asked this Girl ” Belle ” on the live chat for them to remove the bonus she said there is nothing they can do about it, i said that that was illegal fro them to do that, and she asked me if i was a lawyer, then she just signed of from the chat. but they kept calling me asking me to invest even more, and one day after talking to the guy for an hour, he trying to convince to invest 2000$ more, he ended up saying that i was stupid for not seeing the opportunity he was giving me, because he usually deals with people with 20.000$ account not people like me with only 1000$.
    After some time i saw that the auto trade was going very bad they lost over 50% of my 2000$ account in 2 months, from the emails i get at the expiry. I went to the live chat with the same girl, ” Belle ” i wanted to cancel the auto trade in order to try my self, she told me to email this guy whom was managing my account, i didn’t get any reply from him, and he continued burning down my account.
    So, i guess my money is gone… :(

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  6. ken says:

    stay away from cititrader or also called citrades it is a scam they will put a bonus in your account I asked them to remove it and they said they cant and it is just 20 x the 10 000 to clear it I put in 10000 they matched it when I did 20 times 200 000 which is what I was told It would take to clear they said no it is 30 times the bonus amount so 30 x 20000 which is 600 000 dollars to clear there bonus you are never meant to clear there bonus and they will make sure they put a bonus on your account so stay away from cititrader you have been warned

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  7. robert miles says:

    they refuse to give me back my money unless i provide them with all my banking info, the saying cheat me once shame on you cheat me twice shame on me,, yes they are very rude, ignorant individuals , they are only happy when they are fleecing honest people, like corrupt politicians they should be jailed 100 yrs each dollar they steal

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  8. John says:

    My vip account had been on pending withdrawal for some time,I managed to get someone on the chat line,asking why my withdrawal was not honored,they said they would look into it,next thing they start trading again,they seem determined to whittle my account away,and not repay anything. All support emails just bounce back,they do what they like and I have no say in it.Just downright cheats.they need to be shut down.

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