We have found out that CiTrades is not a reliable broker and decided to blacklist it. 7 Binary Options does NOT recommend trading with CiTrades.
We recommend choosing one of our top binary option brokers instead:
Try also Binary Option Robot if you are looking for automated binary trading.
There is a relatively new player in the binary options trading market that has a website that is substantially growing in members each month; that broker is called CiTrades. It is a web broker that is showing a clear commitment to the business of trading binary options online; that probably should not be a surprise considering the site was founded by several prominent Wall Street Brokers. That may be the reason why CiTrades has become so popular among traders that are found in different economic centers all around the world.
Online since: 2013
Max Returns: 88%
Minimum Deposit: $250
Minimum Investment: $20
Maximum Investment: $3000
Currencies: USD, EUR, GBP, CAD, AUD
Countries: All but US, Iran, Syria, Sudan
– A website that is designed by successful professional traders
– Access to a demo account
– Pro perks and tools offered even to the most basic account levels
– Could use a few more tradable assets
7 Binary Options Rating:
The folks at CiTrades have designed a website that we feel is very user friendly and very easy to navigate around. They even offer some free trading signals and access to auto trading software in order to help those that trade with them get started successfully. This is especially helpful for those who do not have a lot of experience analyzing tradeable assets.
There are 4 different account levels that investors can trade at with the broker. Each account level has its own set of features that are included in the account level package. All subsequent account levels include those features of the one that comes before it. Here is a quick overview of CiTrades account levels.
- CiTrades ProTrader account
This is the most basic account level on CiTrades and starts with those traders that deposit the minimum amount of $500. This account level offers to investors access to 24/7 customer service, access to CiTrades eBook and trading guides, access to a demo account, a video training course, a sophisticated binary options trading education program, email or SMS signal service, assignment of an account manager and one on one training sessions.
- CiTrades AutoTrader
This is a more advanced account level on CiTrades and starts with those traders that deposit the minimum amount of $5000. In addition to all of the benefits that are given to a person with a ProTrader account this level user will also get an advanced signal service, access to an auto trading program, a 100% bonus upon signup, an account cash back feature and all this is done on a dedicated VIP platform.
- CiTrades VIP Managed Account
This is an account level on CiTrades for very serious traders and starts with those traders that deposit the minimum amount of $10,000. In addition to all of the benefits that are given to a person with an AutoTrader account this level user will also get trade verification messages, access to their own analyst and personal broker (can be contacted after hours upon request) and expert guidance to help with fundamental and technical analysis.
- CiTrades Executive VIP Account
Out of all the reviews we have done there really is no site that can match what CiTrades offers those that sign up for this account package; it is what is known as rare or for those ultra-serious binary options investors.
This account level is attained by depositing $50,000 or more into the account. In addition to all of the benefits that are given to a person with aCiTrades VIP Managed Account this level user will also get an optional corporate account feature, have interest added to the account balance, have insurance protection on the account, receive a 150% cash back bonus if desired and have a personal debit card tied to the account for instant access to the money placed in it at any time.
We were kind of blown away by the fact that CiTrades offered even its basic account holders advanced trading tools and perks; that is very rare for a binary options web broker and it shows their level of commitment to helping those that trade with them become successful. It is quite obvious that a lot of thought went into deciding what went into each account level to help those that trade at that particular level.
The minimum account level deposit is much higher than a lot of other websites have but when you factor in all the extra services it is still a very good deal in our opinion.
For those who do not have a lot of time to sit in front of the computer and trade at home or work, they also have a convenient mobile trading app. It is a great way for their traders to stay on top of financial news or check and place trades on the go.
CiTrades Trading Platform and Assets
The CiTrades platform itself is a joy for binary options traders to use; they went above and beyond to create a trading platform that has a very user friendly interface and is easy to select and execute trades on. They have done a nice job of taking sophisticated trading technology and putting it in a simplified form. We were really impressed with how the platform works when we did this review. It seems the program was designed to maximize information and making it easy pick out and use.
Another nice thing about the CiTrades trading platform is the amount of binary options choices you can choose from to use in your trading. These are all easy to select at the tabs at the top of the trading window. Just a few clicks is all it takes to place a trade. It all starts with the traditional high/low option that started the rise of the binary options trading craze.
Other option choices include One Touch Options for those traders that really like relying on technical analysis to do their trading; especially if you think an asset will hit a certain price point during a trade but are unsure it will sustain it. This type of option can be very profitable to say the least.
There are lightning fast short term options and longer term options too. With 30, 60 and 120 second trades no investor will ever have time to get bored. More fundamental traders usually prefer the long term options.
Pair Options are also offered and are very profitable if done right but they pose a little more risk than some of the other option forms. We tested Pair Option a lot during the review as they have become our favorite type of option to use on those web broker’s sites that offer them.
CiTrades also offers a variety of ways to modify your position during trades. You can do such things as rollover, double up and sell. Add a mobile trading app into the mix that is compatible with most smart device and you have a website that has a lot of trading options and a lot of ways to access the website to trade.
The asset list is not the longest we have seen and really could stand to have some added to it; even though it must be mentioned that the asset choices they do have are really good ones.
CiTrades Support and Banking Services
The support that CiTrades customers receive is well above average in our opinion too. You can contact them by phone, email and live chat. Phone access to their customer service can easily be done from such countries as the USA, France and England. It is all part of the personal approach to trading that CiTrades likes to promote.
Another nice feature of the CiTrades website is that they will allow you the use of a convenient demo account after you sign up to trade with them. This a great way for those who are new to binary options trading to learn how to trade them and a great way for veteran binary options traders to learn a new trading platform without risking any real money while they are doing it.
CiTrades makes depositing funds into your account easy too. They offer a lot of choice when it comes to deposit payment methods; you can use such things as Euteller, Neosurf, Visa MasterCard, paysafe, CashU, PayPal, Skrill, Maestro, American Express and UnionPay. Almost any trader can find a means of funding their account on CiTrades that is convenient for them. These same types of payment services make withdrawing money just as easy.
The minimum account deposit on CiTrades is $500 as we mentioned. There are also several promotional codes that CiTrades offers that can lessen this amount or have bonus money added to it; they believe strongly in helping new investors with them getting some perks just for signing up to trade with them. Be sure to ask your CiTrades manager about their various promotions after you sign up with them.
When depositing or withdrawing money from CiTrades they have certain account verification methods to protect you. The site is also SSL encrypted to protect your sensitive data. All you have to do to verify your identity with them is to download and fill out a simple compliance form that is found right on the website.
Wire transfers are allowed for withdrawals but these have more restrictions placed on them amount wise because of the costs involved when processing them; it does not really make sense to use wire transfers for smaller account levels because of this policy. Wire transfers can be done at reduced or no costs if they are over $500; smaller transaction amounts will be charged a fee of $25. Withdrawals are initiated within 3 days and can take 5 to 7 days to show up in your bank account.
CiTrades is a registered EU broker which should give anyone who wants to trade with them a lot of confidence in the fairness of this web broker. The EU commission has very strict protocols in regards to keeping a customer’s funds safe and how binary options brokers and binary option robots run their site in regards to traders having a better than fair chance of trading successfully.
Our Final Thoughts about CiTrades
We are pretty thorough when we do our reviews, so any time you see a pros and cons list for a web broker that is much longer on the pros side than the con side you know you are talking about a good web broker. It was obvious throughout our review that some veteran traders had a lot of input into the building of this site’s web platform. With their large amount of learning tools and helpful binary options signals there is no reason any level trader cannot be successful using this web broker. We were thoroughly impressed by them and would highly recommend anyone giving them a try.
Customer Service: Live Chat / Email: email@example.com
Languages: English, Chinese
Trading Options: Currencies, Stocks, Indices & Commodities
Option Types: High / Low, One Touch, 60seconds, Long Term, Ladder Options, Option Builder
Expiry Times: 30 sec,60 sec,2min, 5min, 15 min, 30 min, 1 hr, 10hr, 24h, 24 hr+, End of Day, End of Week, End of Month, 30 days, 150 days
Deposits and Withdrawals: Visa, Mastercard, Bank Wire, Diners Club, Maestro, Cartebleue, Visa Electron, WebMoney, Neteller, Skrill
Withdrawal Time: 1-3 bank days
Demo account: Yes
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