CitiTrader Review
| 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 | 2011 |
| 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 2011 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.
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.