CTOption is a binary trading platform with operation in almost one hundred countries. It is a concern of Paddington Global Ltd.
From the first, you can tell that this trading platform is unlike the rest. The website is designed well, looks professional, and, CTOption’s CEO provides an introduction in their About Us section along with his name where most binary option brokers remain anonymous. But it isn’t just about looks. CTOption is unlike the generic trade platform and it extends to their core business.
CTOption’s software is based on PandaTS, which provides software’s for reputed financial institutions. The great thing about this is that this allows an advanced social trading platform, it is user friendly, and it supports automated or robot trading. There are very few brokers today who can support automated trading and CTOption falls in the list. The platform is reliable in the sense that it follows the UK laws on trading and the FCA, but you would still need to provide their requested verification documents to prevent fraud.
You can make withdrawals any time around the clock, but the withdrawals take 5 – 7 working days to finish processing. It’s faster with online payment systems such as Skrill, ePay or Money bookers – it takes 2 – 3 days, and the terms state clearly that they need a single payment source to follow legal obligations, so the online payment system is recommended.
The platform is user friendly and trades can be executed fast but the platform does lag when it switches screens. The platform supports Hyper Trading where you can trade securities with very short expiry terms such as 60 second trading, 30 second, 2 minutes, 5 minutes or 10 minutes expiry etc. Other options are usually have intraday expiry which varies within assets.
They have an impressive asset list, which covers most assets but doesn’t have Asian indices in their listings, which they should include. They also trade in commodities such as oil or gold and a selection of international big corporation stocks.
Another great feature is that they let you do copy trading options which lets you directly copy the best traders and lets you replicate their trade into their live account.
On the downside, the bonuses they offer tend to be scams, and we wouldn’t recommend trying their bonuses. However one of their biggest flaws is their rule that any trader opening positions greater than or equal to 5% must let their account managers know before they start trading, otherwise the trade will be cancelled, even if the investor won. Another thing is that the software doesn’t provide securities for traders who want to commence in longer trades, since most of their options are hyper trading or intraday trading.
However, there aren’t a lot of complaints for CTOptions, either because they are new or they are good. They do get complaints for not taking Israeli clients and their no deposit bonus is unpopular. Also, their 5% trade rule is a big issue amongst their clients, so it is highly recommended that you let your account manager know before you start trading or not trade at all.
Regarding their bonus, while bonus is a controversial topic amongst traders and brokers, theirs may be one of the worst. It is certainly the most difficult to understand. However, they do offer sign up bonuses that can cover almost 100% of the investor’s initial deposit. Nevertheless, it wouldn’t harm the investor to check with their account manager to be completely clear on the terms.
Their withdrawals are also slightly complicated because of anti-money laundering issues. The minimum withdrawal is $50, and the investor must fill out, print and sign a withdrawal request, and then they must mail or scan it to the company’s finance department. The withdrawal should take about a day after completing the paperwork, but that depends on the withdrawal method. Once again, they prefer their payments to come from a single source.
So with all this, we can conclude that CTOption is one of the more unique trading platforms and offers a different experience for traders. They have several features which make the commendable for use and till now, the CTOption is one of the better platforms available for trading.