CitiTrader Broker Review

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CitiTrader Review

CitiTrader

Broker CitiTrader
US Traders Accepted
Company Name Cititrader Enterprises Ltd.
Headquarters Sofia, Bulgaria
Regulation No
Bonus Type Welcome bonus
Bonus Size $100
Max Payout 70%
Out-of-Money Reward 10%
Trading Platform SpotOption
Deposit Options Credit/debit cards, Skrill, wire transfer, CashU
Deposit Currencies USD, EUR, GBP, CAD or INR
Minimum Deposit $250
Minimum Trade $5
Maximum Trade $1,000
Online Since 2020
Trading Instruments Currencies, Indices, Stocks and Commodities
Number of Trading Instruments 82
Binary Option Types Call Option & Put Option, One Touch, Option Builder, 60 Sec, CitiMeta
Customer Support Types Online chat assistance, toll-free phone number, e-mail, telephone calls to one of their satellite offices, nanoRep customer support software
Education Offered How-to-Trade, Demo Video, Telephonic Guidance by a Trading Coach, Webinars, Training Sessions
Tools Offered Daily Market Review, Weekly Market Review, Expired Rates, News by Yahoo Finance
Languages English, Hindi, French, Chinese, Arabic
Demo Account Yes, deposit of $250 is required.

CitiTrader offers you a professional and web based trading platform powered by SpotOption. They are using a platform which is popular in the industry and is well-known for its user-friendly features. One can start trading instantly through this browser-based trading platform. CitiTrader has been online since 2020 and they are a Bulgaria based company known as Cititrader Enterprises LTD. The company has been founded by a group of qualified Wall Street brokers, and this is the reason why CitiTrader has a host of educational resources and support features, with an objective of simplifying the trading of binary options for the people who are new in the industry. They conduct an array of webinars and one-to-one learning sessions for the newcomers to learn trading and stay profitable from their trades. This is why they have the Beginning Broker Program (BBP) exclusively for the newbie traders. Under this program, they conduct informative sessions for people who have zero knowledge about the binary options trading. One can learn everything about trading and can request for a training session by calling them at their toll-free no. 1-800-935-0543. But one must have to register with CitiTrader with a minimum deposit of $500 to be eligible for this training. Perhaps they need to make sure your sincerity before providing you with a free training session.

It is not that CitiTrader focuses more on newcomers only. They have different accounts keeping in mind your trading efficiency and investment capabilities. A newcomer can enroll in their Beginning Broker Program or can open a Bronze account with them with a minimum deposit of $250 only. Their Pro Trader or the Silver Account can be for an experienced trader with a minimum deposit of $1,000-5,000. More experienced traders can opt for their Autotrader or Gold Account and have to fund their account with $5000-10,000. They also cater to the institutional traders by offering them their VIP/Managed Account or Platinum Account and for which they maintain a minimum deposit level of $20,000. So, according to your choice, you can choose to open an account with them. Moreover, they offer attractive bonuses as well. You can get a welcome bonus of $100 to start trading and 100% bonus on the first deposit.

While CitiTrader offers different types of accounts and lucrative earning opportunities, they are not a regulated company. This is one reason that may make an experienced trader to think twice before he will invest his hundreds or thousands of dollars with them. Their bonus withdrawal policy could also trouble many traders. While they can offer you with attractive bonuses, but in order to withdraw your bonus, you will have to execute a minimum trade of 30 times of the bonus amount. So, for a newbie trader who may get a 100% deposit bonus, withdrawing the amount could be a difficult proposition.

Trading Choices

CitiTrader has 82 financial instruments which comprise of different currency pairs, indices, stocks and commodities. So in the true sense, a trader can have numerous choices when in comes to selecting assets for investment purposes. They offer an average payout of 70% in their regular binary options. While their One Touch option can help you to earn up to a massive 700%. If you are pretty confident of your trading skills, you can think of investing in their One Touch option, however, you must calculate the risks beforehand. Although they provide an average out-of-money reward ranging between 0 and 10%, but one must play safe to stay profitable in the market. They also offer OptionBuilder to invest in specific assets to help you earn a payout of 70%. Their 60 Seconds can be a good opportunity of making a quick 70% profit in just 60 seconds. They also have a CitiMeta trading opportunity with a maximum payout of 70%.

Technical Analysis

CitiTrader offers several types of technical analysis and tools to their traders. Traders can take help of their Daily Market Review and Weekly Market Review to help assess the market movements correctly. They also provide Expired Rates of the assets, helping investors to choose suitable options for their profitable investment. A trader can also access News by Yahoo Finance on their site to stay updated about the market developments. However, for large traders who may want to invest thousands of dollars, these technical tools may not be sufficient. They will require historical data, charting and live streaming features that many brokers have already started offering to their clients.

Learning & Support

CitiTrader endeavors to educate the trading enthusiasts and thus brings lots many training resources for them. The Beginning Broker Program, as discussed above, is their excellent effort to help you learn the ins and outs of binary options trading. Besides, one can take help of their How to Trade section and the Demo Video on their website. They offer webinars and one-to-one sessions from time to time, which can be again very useful for people to learn the secrets of trading. You can also request for a Telephonic Guidance by a Trading Coach. Moreover, one can try their demo account as well but for which one will have to make a minimum deposit of $250. But if you are not satisfied with their services for any reason, there is no need to trade with them with your $250. You can withdraw the amount without executing any trade.

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CitiTrader supports several languages of English, Hindi, French, Chinese and Arabic. They offer online chat assistance where a courteous customer care representative will happily answer your queries. You can also call them at their toll-free number or one of their satellite offices. You can email your queries to them too. They also have nanoRep customer support software which brings replies of the customer’s questions automatically by searching it in the knowledgebase. This will get you the replies for all your common queries and if you do not feel satisfied with the automated replies, you can take help of their online chat service.

Conclusion

Importantly, CitiTrader tries to cater to the needs of different traders with their different types of accounts. Moreover, for beginners, they have a resourceful guidance and helpful support features. They offer a minimum investment level of $5 which is again affordable for the new traders. However, the newcomers will find their bonus offer lucrative but tricky. So, learning with them could be simple, but earning may be uncertain for a new investor. Experienced trader may get many advantages of risk management and fully managed accounts, but technical analysis is one area where CitiTrader needs to offer advanced tools to the experienced traders. However, in the real sense, CitiTrader endeavors to fulfill the needs of different types of traders with their different offerings.

CitiTrader

Broker Name: CitiTrader
Platform: SpotOption
Founded: 2020
Bonus: 100%
Return/Refund: 65-75%/0-10%
No. Of Assets: 83
Regulated: No
Demo Account: Yes
Minimum Deposit: 300
US Traders: Not Accepted

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?

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 2020, 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.

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

CitiTrader Broker Review

CitiTrader was formed in 2020 by a very experienced and highly professional group of Wall Street brokers. These individuals formed CitiTrader.com and very quickly gained a reputation for being one of the market leaders in binary options trading due to their trading platform being one of the most professional and objective found on the internet today. The goal of CitiTrader is to give all investors, no matter what level of experience, the opportunity to invest in an easy way with the stress removed.

One of the fastest ways that traders can make large profits is by investing in binary options and to help their client’s achieve this CitiTrader have private webinars and VIP traders can also have one on one sessions.

Website: www.CitiTrader.com
Minimum deposit: 250 USD
Minimum transaction: 5 USD
In the money returns: between 65% and 75%
Out of the money returns: 10% maximum
Trading tools: Yes
Demo account: Yes
Available Options: Option Builder, One Touch Options and 60 second option
Assets: Forex, Commodities, Indices and Stocks
Traders allowed: All countries apart from Nigeria and Ghana
Platform: SpotOption Platform

One of the most extensive assets list available is offered by Cititrader for trading, with 14 different currency pairs and over 30 stocks.

All new investors depositing $500 or over will receive from CitiTrader the same amount into their account as well as having free access to the Beginning Broker Program (BBP). To increase the chances of their clients making profits on their investments, Cititrader will supply them with educational materials from the best brokers and analysts.

As is common with most binary options platforms, clients of Cititrader have a variety of expiry times to choose from. Trading in binary options is by nature speculative and the majority of options have a maximum of a few days before closing. The options that are least traded are those with expiry times of a few weeks.

The CitiTrader platform currently offers their clients four languages: Arabic, English, French and Hindu.

When opening an account at CitiTrader investors are required to state which currency they would like to use for trading from the following: AUD, EUR, GBP, USD and INR. The chosen currency will remain your trading currency as long as you have an open account. Deposits into your account can be made by MasterCard, Visa, CashU and MoneyBookers.

Traders can look forward to returns of between 65% and 75% if their option expires in the money. This sort of return is one of the reasons CitiTrader is a favorite among investors. They can also expect to receive a maximum return of their investment if the option expires out of the money.

Along with the regular binary options, CitiTrader also offers investors Option Builder, One Touch Options and 60 second option.

The Option Builder allows traders to implement their own strategies when purchasing an underlying asset. All that is required is that the trader chooses the expiry time and the risk level.
With the One Touch Option the trader predicts if the chosen asset will reach a certain level before the time of expiry.

The 60 second option is self explanatory; the trader can purchase an asset and sell it 60 seconds later. This option is generally used by aggressive traders.
The customer support service at CitiTrader is highly professional and can be contacted via chat, email and toll free phone.

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