Our Review of CTOption
The online broker CTOption offers binary options trading to traders in over 90 countries worldwide. It offers trading in dollars, euro and pounds sterling.
Account Types + Opening
If you would like to get a feel for how CTOption works without committing yourself just yet, then why not open a free demo account with them? There are several 'real' account types with CTOption too, and it is very swift and simple to get started with them as all that potential account holders need to do is to fill in a quick online form. Choose a Mini account (which is ideal for beginners), a standard account or an Executive account (which is tailored towards professional traders). There is also an Islamic account option with CTOption.
Promotions, Sign Up + Deposit Bonuses
CTOption offers, like many such brokers, a 100% bonus on initial deposits. The initial deposit amount will need to be $250 for you to open an account with them (and customers in the US often find that they need to deposit $500 instead of this $250), so you can start off trading with $500 or more. In addition, you will very often get your first withdrawal free with this broker.
Commissions and Fees
CTOption will typically take a commission of 10-20% on your trades. Fees are also associated with withdrawals; a fee of $50 applies to all withdrawals that do not come under the promotional offer of a free first withdrawal.
Trading Platform Review & Mobile Apps
The CTOption trading platform is a PandaTS platform, which makes a difference from the SpotOption platform that is so widely used by similar binary options brokers. The platform offers real time news, educational articles, and also emphasises customer support with web chat and phone lines both available around the clock. The whole feel of the site is refreshingly slick and transparent. CTOption also has a mobile app which is available via Google Play.
Deposits & Withdrawal Methods + Ease
Deposits and withdrawals can be done by local bank transfer, bank wire transfer, debit or credit card and by using online payment accounts (such as MoneyBooker). The minimum amount that traders can withdraw is $100.
Regulators & Safety: Are they a reliable, legitimate broker or a scam?
CTOption is not currently licensed, nor is it regulated. This may simply be down to the fact that it is a relatively new broker - indeed, reports suggest that CTOption is seeking a license from CySEC at the earliest possible opportunity. Though some traders have complaints about losing money on CTOption's trading platform, all indications suggest that this is a legitimate broker rather than a scam site.
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