Updated on January 17, 2024
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In our rigorous review process, a team of seasoned financial specialists, boasting more than 20 years of experience in Forex trading, carries out an exhaustive evaluation of various trading services. Our team delves deep into the investigation of fees, assesses the trading platforms, and verifies adherence to regulatory standards. We also interact directly with customer support and conduct actual trades to gain a real-world understanding of the trading conditions. This comprehensive approach enables us to provide informed insights and advice on why we recommend avoiding CT-Trade due to the issues we've identified.
Is CT-Trade Scam or Legit Broker? ▲
Our thorough investigation into CT-Trade has led us to conclude unequivocally that this broker is not legitimate and poses significant risks to traders. Our findings reveal that CT-Trade lacks any form of authorization or official registration, marking it as exceedingly dubious and potentially a clone operation. These discoveries alone cast a shadow of doubt on the broker's legitimacy, leading us to advise traders to steer clear of engaging with CT-Trade for their trading activities.
Lack of Authorization: Our review has established that CTTrade operates without any regulatory oversight. This absence of authorization means that they do not adhere to any established standards of financial conduct, which is a critical red flag for anyone considering trading with them.
Clone Firm Suspicions: Further scrutiny has unearthed that CTTrade appears to be a clone firm, impersonating or attempting to associate itself with reputable entities. This deceptive practice is designed to mislead investors into believing they are dealing with a legitimate and regulated company.
Safety of Funds: Given the broker's unregulated status and dubious operational practices, there is no assurance regarding the safety of funds. Traders are at a heightened risk of losing their investments with no recourse for recovery.
CT-Trade purports to be associated with Citibank Europe plc, claiming regulation and operating under the guise of the reputable institution's address at 71-75 Shelton Street, London, WC2H 9JQ, UNITED KINGDOM. This claim aims to leverage the credibility of Citibank to attract unsuspecting traders. However, our investigation confirms that CT-Trade does not hold a license in the UK or any other jurisdiction. The attempt to associate itself with a well-known financial institution without the necessary regulatory approvals is a deceptive practice indicative of clone firms.
Clone Firm Characteristics: CTTrade exhibits classic signs of a clone firm, using the details of a genuine entity to create an illusion of legitimacy. This strategy is particularly insidious as it preys on the trust investors might place in wellestablished financial institutions.
Licensing and Regulation: For a company to operate legitimately within the UK's financial markets, acquiring a license from the Financial Conduct Authority (FCA) is essential. This involves stringent criteria, including a substantial financial outlay and the maintenance of adequate capital reserves, to ensure the protection of client funds. CTTrade's failure to meet these requirements further underscores its untrustworthiness.
In light of the evidence presented through our comprehensive review, we strongly advise all investors and traders to avoid CT-Trade. The broker's significant lack of transparency regarding regulatory compliance, trading conditions, and operational details is alarming. Typically, such characteristics are indicative of investment scams, which pose considerable risk to traders' funds. It is crucial for traders to seek reputable and well-regulated brokers, ensuring the security of their investments and the integrity of their trading experience. The dangers associated with unregulated brokers like CT-Trade cannot be overstated, and we caution our readers to remain vigilant and discerning in their choice of trading partners.
When considering alternatives, brokers like Interactive Brokers, City Index, and AvaTrade stand out. They not only offer the security of stringent regulation but also bring to the table comprehensive trading solutions that can meet the needs of both novice and seasoned traders.
CT-Trade Review 2024
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I wished I had listened to my intuition when I first got in contact with them. I was intrigued by their profit margin and decided to give them a try. My first payment was $1k, a couple weeks later I was told I would be rewarded if I increased my investment portfolio and I decided to make another payment of $17,500 which I regretted. I tried contacting them and they refused to pick up which is when I decided to find a solution. A coworker went through a similar situation and she told me to get in contact with Mrs. Roberts on (robertslee. 6. 1. 8. @. gmail. ...com) Or via What-app: (+1. .8565497469). I am glad to inform you I have been seeing progress and have recovered more than half already. Please do not fall for their promised profit. Save yourself that hassle
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