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Based on the popular PandaTS platform CTOption got off the mark in a promising way. The broker was known for its speedy processes and a variety of options including High/Low, Hyper Trading, Touch, and Range…
CTOption offered a promising asset list but unfortunately, it lacked the indices from Asia. The number of Forex pairs was more than a dozen. The pairs included cryptocurrency as well, i.e. BIT/GBB, BIT/EUR, BIT/USD, and BIT/JPY. The commodities included oil, crops. And gold. $5 was the minimum position.
If you are interested to know the truth behind CTOption scam warnings, you’ve just reached the right place. This review will walk you through the overview of the platform, legal status, complaints, and final judgment.
We appreciate that whilst many of you will be looking to read our full review here, some of you may have just come looking for some specific information – so to make things easier for you we’ve put together some quick navigation links below as our reviews can often become quite lengthy.
- CTOption Background
- Is CTOption Regulated?
- CTOption Complaints
- CTOption Withdrawal
- Is CTOption a Scam?
- Our Verdict on CTOption
- Scammed By CTOption? Get Your Money Back!
- The Best Way To Make Good Money Online
InfiniCore Ltd. owned and operated CTOption from Jaycees Building, Stoney Ground, Kingstown, Saint Vincent, and Grenadines.
- Phone: +4 721 954 405
- Email: firstname.lastname@example.org
The management of the clearing services was undertaken by the InfiniCore UK Office in London.
The Terms and Conditions page of the website stated that Ninety Nine Research Assets Ltd. also served as clearing manager from its dormant (virtual office) in Anguilla; Phone – 08 940 282.
Is CTOption Regulated?
CTOption was NOT regulated. In fact, the operating company was warned against on several occasions.
- FMA (France) included CTOption to the list of its blacklisted entities (13-05-2015).
- British Columbia Securities Commission issued a public warning against CTOption (17-03-2016).
- Consob (Italy) blacklisted the broker (11-04-2016).
- FSC (Anguilla) issued a public warning against CTOption (26-10-2016).
- FCA (UK) issued a public warning stating that CTOption website contained false claims, assuming the FCA regulations/authorization and payment services (01-11-2016).
Clients often doubted the intentions of CTOption management by arguing that the website seems like a scam. The credibility of the broker was damaged because the insane bonuses were unrealistic.
The 5% rule in relation to the position size was also not a good thing. The traders didn’t welcome this move.
According to this rule, the traders had to first notify the account manager before investing anything that was equal to or more than 5% of the available funds. If a trader doesn’t notify the account manager, the trader will lose the money even if the trade results in a profit.
The broker never decided to pull back this suspicious rule. It was never revised or reconsidered even during the 2016 upgrades. In the meanwhile, the scam reports continued to emerge while the website was operational. Often we see the scam complaints after the broker’s website goes down.
In 2017, the broker started to reveal its true colors. The traders started to realize that a withdrawal request will result in the termination of the account. This is the most significant indicator of a ruthless scam.
We found that CTOption was promoted by notorious marketing platforms including Code Fibo, Quantum Code, Push Money, Cash Loophole, The Britcoin System, Profit Maximizer, and FastCashbiz etc. All of these entities have been identified as scams. These things strengthened the perception that this broker was a devoted scam artist; a ruthless criminal, to say the least.
The withdrawal process with CTOption was complicated. $100 was the minimum withdrawal limit, there isn’t anything strange. Submitting the withdrawal request was an annoying process. You had to fill the form, print it, sign the hardcopy, scan the signed copy, and then email to the concerned department.
CTOption facilitated wire transfer, Credit Card, and eWallets as the methods of withdrawal. Withdrawal via eWallet was the quickest and most convenient option (2:00 hrs.) as compared to the minimum 3 working days processing with other methods.
But it was hard to successfully withdraw your funds from this broker. It was usual for the clients to face certain technical issues and processing failures. On top of that, $50 was charged for each withdrawal. Would you like to trade via such broker charging this much?
Is CTOption a Scam?
Yes, certainly CTOption scam complaints were driven by genuine reasons. The broker undermined the value of its client. Customer support had never been friendly. Things never went in the favor of the traders. Fees kept increasing after each update regarding the broker’s policies. Regulatory authorities issued several warnings against this platform.
Eventually, the withdrawals were rejected and accounts were restricted. Traders lost their money and dissolved behind the malicious smog.
Our Verdict on CTOption
There is no need to select any broker that doesn’t explain its terms and conditions in a clear way. In addition, the traders have to first go through the T&C pages carefully. Paying attention to the terms and conditions doesn’t cost you anything, but it protects you from a potential loss in the future.
Most of the traders have been fooled for the reason that they never considered anybody smarter than themselves. Self-assumed wisdom is a curse. It makes you ignorant and motivates you to turn a deaf ear to whatever piece of advice is spoken to you. Advance carefully with well-calculated steps. Don’t try to take a huge leap in an anticipation of a huge win.
Scammed By CTOption? Get Your Money Back!
Obviously we hope you have not fallen victim to the CTOption scam, but if you have then you can at least rest assured that you have landed in the right place.
The reason we say that is because we have put together a free money reclaim guide which shows you step by step exactly how you can get your money back from scams like the CTOption scam.
Therefore if you have indeed lost money to CTOption then we highly recommend you check the guide out as to date it has helped thousands of people to successfully recover their lost funds & we are extremely confident that it’ll be able to help you too.
The Best Way To Make Good Money Online
If you came here to find out if CTOption was legit because you were looking to make some extra money online then no doubt you will be disappointed at what you’ve read above, but don’t be too disappointed as there are actually several legitimate ways that you can make good money online.
You see here at Stopping Scammers whilst we have indeed exposed many online scams we have also uncovered many genuine, legitimate opportunities for making money as well.
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