Is CiTrades a Scam?
We have made a research of CiTrade and found out that they do not rate highly and there is no significant data about them. As an alternative we have selected our Top Safe Binary Brokers along with detailed reviews for safe and secure trading.
Since we haven’t gathered enough information yet, we cannot confirm that CiTrades is safe. You can Proceed to Safety OR Choose one of the Is-Scam approved and safe Binary Options Brokers:
Trading is vulnerable to multiple kinds of failures especially when dealt with inexperience and poor strategy and betrayal, and online trading increases deception factor many fold and “CiTrades” is one of the myths of recent times. Regardless of good or bad experience, if we analyse, it does not impact positive impression on minds as it seems a scam when it appears 150 percent deposit bonus when you have not done any business yet.
User interface does not create the “good image”, moreover there are complaints of misuse, there has been no clarification from CiTrades as well, it is likely to declare as scam.
CiTrade is online, web oriented portal for binary broker options, apparently devoid of any kind of software, and offering more than 70 percent profits along with other attracting offers. This seems fallacious and awkward when someone seems to provide profits only all the time. Since 2012 after their launch, CiTrade has been speculated as off Shore Company owned by
Jason Scharf. This company claims to educate customers but there seems no devised mechanism for this, except how to deposit money to their accounts.
Upto 10,000 Euro fascinates and catches the attention of every visitor of CiTrade.com at first look but as soon as visitor starts browsing the portal, things get complicated. High cost per acquisition, high net revenue generated, and most interesting is income for life time seems a beautiful net one would like to be catched in. Different bonuses are promised on different account types but there has been no proof of bonus paid to any partner. An Up to 500 percent return is just a fallacious advertisement and does not seems to have any contact with reality.
CiTrade is a binary options broker that is not a registered and regulated company by any regulatory body, law or act and no one is sure of even their existence as the phone numbers provided by them are also fake and do not respond.
The only know how to regulate the flow of money to their accounts and all their emphasis is on collection of money. They teach how to transfer money by different methods and most of the customers are of the view that they Citrade have charged them more than once for registration and investment.
CiTrades Minimum Deposit
Minimum deposits are $250 for CiTrade but in account description they offer nine different packages under four types of accounts. Protrader account requires minimum deposit balance of $500, AutoTrader account need $5,000, VIP Managed account need $50,000 and VIP Executive Managed account also require $ 50,000 minimum deposit balance along with benefit of 150 percent sign up bonus.
Higher minimum deposit balance for binary options broker is promised with world class compliance but once they have received money, their behavior changes as reported by many victims. Failure of trade cannot be pronounced as scam but cheating is definitely a fraud so I recommend thinking at least 100 times before considering CiTrade Binary option broker.
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ConclusionAfter detailed investigation our team concluded that there are better choices than CiTrades. We cannot confirm that this binary options broker is a scam, but our research revealed enough traders’ complaints to not make us feel safe trading with CiTrades.
We recommend you to Proceed to Safety and avoid scams by choosing High-Rated and Trusted Brokers on Is-Scam.com.