Citytrade is an offshore binary options broker that operates in a manner that caught our attention. Hence through this unbiased review on Citytrade.ltd, we unravel the red flags they showcase and why your funds may be at great risk. The company plans to allow traders to trade safely and gain profits. At the time of research, Citytrade had 9k+ traders allegedly online. They also claim to feature more than 58,000 traders.
Meanwhile, there is a legit binary options broker that you can count on through reliable trading strategies, and considerable profits are a guarantee. Citytrade urges traders not to have to stare at charts constantly, and they can make money while continuing with daily activities. They also claim traders do not need to have any past trade experience.
Accordingly, you would expect that they feature helpful training materials to aid your trading. Citytrade only cares about the funds you deposit, and they do not have any helpful training materials. There are several factors that you should consider before picking a trading platform or making investment steps. You should do thorough research and focus keenly on transparency.
Citytrade website is poorly done, and a lot of important data is missing raising more concern on the company. Moreover, you can access the trading services on various devices such as phones, tablets, Windows, and iOS devices. They further promise traders fast trade execution and constant profits.
Citytrade was anonymously launched into the market, and this should serve as a warning not to trust any of the services they offer. You risk dealing with criminals who have no experience in the trading world. Furthermore, scammers are keen on hiding their data so they can rob innocent traders and get away with it. Many information has been left out on the about us section, yet they claim to be the leading platform in the UK.
Consequently, news spreads fast these days. If they were attaining the said returns, the traffic on the website ought to be higher. The platform offers Binary options, forex, and spreads services. They do not reveal any data on how the software they use operates or the kind of algorithm it uses.
They claim to be the most innovative binary option platform. The risk measures that are in place to curb losses, such as stop-loss, are unknown. Citytrade presents itself as an opportunity to earn on cryptocurrency and binary, and that a team of experts formed the team. Traders do not need to participate in trading actively, and you can benefit from the affiliate program.
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Citytrade Clients Testimonials
Citytrade uses a scam technique that you should always be watchful for before falling for any client’s feedback. They feature traders claiming to benefit from Citytrade and the services they render. One trader even says that Citytrade.ltd is the best broker to invest with. Well, evidence is all that you need before making any investment choices.
The traders who say they have earned a lot, be it experience or profits, are non-existent. Scammers either pay quacks to come up with fake reviews on the company or ignorantly use people’s names and images just as an attempt to lure you into making a deposit. Therefore once you fall for the catch, that is the end of business between you and them. In addition, Citytrade even brags about having won various awards, such as Fastest growing Binary options brand, among other made-up awards. Therefore without past trade data of at least three months or more, your funds are at risk.
To reach Citytrade, you have to write to them via email; [email protected]. This is not enough customer support, and they should at least feature a telephone contact that’s traders can count on. Working contact support is always helpful in determining the trustworthiness of the company when it comes to queries or assistance relating to Citytrade.ltd.
Citytrade also features an address at 62 Harrowdene Road, Knowle, Bristol, BS42JJ. Even so, the same info has nothing to do with Citytrade.ltd . Thus once they have your funds reaching them is almost impossible, and you should be cautious of the shady broker.
Regulation Status of Citytrade
Citytrade claim it is regulated by the FSB and CHGA based in England. There is no data to support the same and prove your funds are safe. Accordingly, since they are based in the UK, the FCA is responsible for regulation within the same area. They also do not recognize Citytrade. Hence they are illegally in operation and generating funds from the public. The best crypto ventures showcase a high level of transparency. The same data on regulation is always available and easy to verify.
In addition, regulation helps in attracting more traders, and scammers can barely afford regulation fees. Unregulated platforms do not last for long in the market, and they easily break trading guidelines however they want to. To generate funds from the public, most countries, if not all, must have regulation data. Citytrade.ltd founders risk facing criminal charges and could be the reason similar data is hidden. They only feature a registration no: 05105716, which could also be made up.
Citytrade, just like most scammers, uses high attractive investment plans. However, the plans do not have any difference or approach towards trading that should make you want to pay more. The returns this type of entity promises traders are not easy to generate overnight, causing more doubts on Citytrade.ltd because it features similar styles of operation.
Citytrade has four investment plans to choose from and expects high returns within a short while. The minimum investment amount is $100, and you gain 20% after 24hours on Premium Plan. The standard plan grants traders 50% in an hour after investing $700. Also, the Ultimate plan assures investors 100% returns after one hour of having invested $1500. This kind of return is very pleasing but be cautious as only pyramid schemes operate similarly to Citytrade.ltd.
However, the last account that traders can choose is highly over the trade limit. Promo Plan grants traders a referral commission of 12%. Even so, you will be inviting friends and family to become scam victims. The plan also promises its customers 200% after just 65minutes after investing $2000.
Citytrade Funds Safety
Citytrade should not be trusted with a single coin of your hard-earned funds. The company has a very shady method of operation on no past trade info. They support two deposit methods; Etehreum and USA Bitclube. They do not showcase any banking data that shows your money is in safe hands.
Additionally, the anonymous founders may even be keeping funds in their personal accounts. Meanwhile, they also do not have any refund policy that you can use to reclaim lost funds. Hence once your money is gone reaching Citytrade.ltd is almost impossible.
Citytrade.ltd tries to play smart with traders by portraying a legit entity, whereas all the murkiness they try to hide is easily exposed. The company has a shady style of operation and a terrible reputation across social media. They do not showcase transparency, and the founders’ data is also hidden, creating even more suspicion on Citytrade.
Therefore to save yourself from becoming a scam victim, invest with legit crypto companies that will truly generate reasonable returns on your funds. Entities that protect you and generate profits rather than Citytrade.ltd, which are only after your funds.
Is Citytrade Licensed?
Sadly, this is a dirty Ponzi scheme that come up with pseudo regulatory bodies. The company does not have a license from the FCA.
Is Citytrade based in the United Kingdom?
The broker fakes it address but their country of origin is unknown.
Can I generate the high profits that Citytrade advertise?
The company is after getting traders funds. They don’t intent in making you rich.