According to most sources, CTOption is owned by InfiniCore Ltd., based in Kingstown, Saint Vincent and the Grenadines. According to their own About Us section, the headquarters of the operation are in London, UK. By all accounts, CTOption aren’t licensed and regulated by any authority anywhere. What this means is that they do not answer to anyone in regards to how they use the funds deposited by their traders, and how they set their prices. Like most CySEC brokers, CTOption is based on the single market-maker model, where the broker – who in essence trades against its own customers – is the single price-maker on all the underlying assets it offers.
According to CTOption’s site, the operation has been launched by a group of professionals covering the financial, trading and technology industries, with the goal of providing an intuitive and innovative trading platform. They have apparently reached their goal through the Panda TS platform, which is what they currently use. Whether it is really innovative or just another version of what countless other brokers offer, is up for debate though.
CTOption offers progressive trading tools, advanced educational tools and full control over one’s trading account. Top-notch support is also part of the package, together with a great asset selection, social trading and a trading signal service.
No CTOption review would ever be complete without mentioning that they accept US customers (after all, they’re not regulated so they can afford to do so without drawing the ire of their regulator), and they offer a good demo account.
Another issue that makes CTOption stand out is their 5% rule. Apparently, traders who want to stake more than 5% of their entire bankroll on a single position, have to announce the CTOption support, or rather, their account manager. Now, as you probably know, we do not recommending making use of the services of an account manager, for obvious reasons (your manager is paid by the broker, therefore it’s clear where his loyalties lie). Beyond that, the terms of the 5% rule – which spell out that trades above the 5% threshold can be invalidated by the broker, even if they are winners (or perhaps especially then) – are simply abusive. This looks like a protection for the trader, but it may in fact well be a protection for the broker, giving it a free hand to shield its profits.
The CTOption Platform
As said above, one of CTOption’s claims to fame is the fact that they use the Panda TS platform. While this doesn’t make them unique in any shape or form, it does make them part of a minority of brokers. The platform does its job well and it comes with a number of impressive twists and features, among which the Binary Replicators stand out. This is CTOption’s take on social trading. The Binary Replicators allow rank-and-file traders to copy the trades of successful traders, thus essentially cashing in on other people’s analytic skills. While there aren’t many complaints out there regarding the services offered by CTOption, some of the complaints are about these Binary Replicators. According to the claims of these traders, those featured in the Replicators are the people of the broker rather than legit traders. The legitimacy of such claims can obviously not be verified.
CTOption’s Binary Bug Auto Trader
The Binary Replicators are included in the signal services offered by the operator, filed under the Social Trading category. CTOption also offers a dedicated, in-house auto-trading service, called Binary Bug. Binary Bug (BB) is advertised as a collection of complex algorithms, analytic tools and statistical models, which make it one of the best auto-traders in the world. On one hand, BB is supposed to alleviate the pains of those who are tired of the hands-on approach to trading. On the other, it is supposedly a perfect companion for those who want to trade but have no idea how to go about it.
The BB application is web-based, and thus it can be used anywhere, on mobile devices too. Supposedly, BB is capable of learning on the go. There is of course no way to verify this feature either.
Here’s a video demonstration of the BinaryBug app:
Remember, we do NOT recommend using signal services and robots provided by binary options brokers.
Daily notifications and market analysis are also part of the trading tool package offered by CTOption, which – in this respect – is indeed increasingly looking like a powerhouse.
As said in the beginning of this CTOption review, this broker seems keen on educating its clients. The CTOption Education Section includes an introductory section, complete with a glossary, as well as a number of strategy lessons, eBooks and courses. Instructions on how to use the trading platform are also available, as is an extensive listing of the underlying assets one can trade with CTOption. In this respect, the operator is indeed well-stacked: it offers no fewer than 200 tradable assets, which include an unusually wide range of currency pairs. There are only 4 commodities and 5 future indices, but the stocks list is once again massive.
CTOption Account Types
The available CTOption accounts cover the Basic, Gold and Platinum levels, in addition to the Demo account. Islamic accounts are also available. Even Basic Account users gain access to the replicator and an online education package.
CTOption Minimums and Payouts
Those trading at CTOption will be glad to learn that the minimum on individual trades has been set to $5. The nominal maximum is $10,000 in this respect, but given the 5% rule mentioned in the beginning of this CTOption review, the real maximum is something of an unknown.
The High/Low options offer the best payout at CTOption. Those trading such options can hope for payouts as high as 81%. Long term options have long been the Achilles’ heel of the operation, and they have remained that to this day. The payouts on such options are around 60%, which is – there’s no better way to put this – downright abysmal.
Not being licensed anywhere, CTOption can afford to give their traders a 100% match bonus. One is best off steering clear of this deal though, as its terms and conditions are atrocious.
CTOption support can be reached through live chat, or through email@example.com. There’s an international phone number available as well: +4721954405.
CTOption Review Table
|Jurisdiction||Saint Vincent and the Grenadines (UK)|
|Trading platform||Panda TS|
|Supportfirstname.lastname@example.org, live chat, phone|
|Trader Demographics||Everyone, everywhere. US traders accepted|
|App compatibility||Android, Windows|
|Minimum required deposit||$250|
|Minimum trade amount||$5|
|Customer service||Eager to assist, available 24/7|
CTOption Review Conclusion
Due to the fact that CTOption are not regulated and also since we received many complaints about them, I don’t recommend signing up with them. If you want to open a CTOption account anyway, I suggest to not deposit more than the required minimum . Also, stay away from managed accounts and signal services provided by CT Option and other binary options brokers.
Traders from other countries should probably pick a regulated binary broker.