CTOption is a binary options broker that is in the business for several years now. During this time frame there have not been many negative feedback and comments about this broker. Due to this, I decided to review it see for myself if this broker is legit or not.
Read the below CTOption review in order to find out more about this broker.
Platform and Features
I believe that one of the best things about CTOption is that it works on a unique binary options platform called Panda TS. It’s a fact that the majority of brokers in the business operate on pretty much almost the same platforms. This is because there are few platform developers available on the market and the costs to develop your own platform are very high.
So, if you have already a broker account at some other broker then chances are if you register at CTOption you will have the possibility to try out something completely unique, which in my opinion is great.
The Panda TS software in my opinion is very well built and allows the possibility to purchase different option types such as high/low, one-touch, and even 30 to 60 seconds options.
A major difference between the CTOption software and other platforms is the fact that CTOption also has shortlist of binary options contracts you can purchase which the click of a button if you like. Traditionally, you would have to manually adjust every single contract yourself before you can buy one.
This is illustrated below:
As you can se on the screenshot above, the interface also has a “Trade Inside View” which essentially shows what most other traders have chosen for this option. In this case 70% of traders have chosen “high”.
CTOption also has a signal feature that allows you to follow and copy the actions performed by other traders. The signals are not generated by an algorithm but by real traders who are registered at CTOption themselves.
With this feature you will have the opportunity to select the traders with the best historic performance and allow the software to automatically execute the same trades those traders do.
This is illustrated in the screenshot below:
CTOption offers more than 100 assets ranging from stocks, forex currency pairs commodities and indices. Traditionally I used to list all these assets in these reviews but I doubt anyone actually reads all 100+ assets and the full list can always be checked out on the CTOption website itself.
One thing that I noted down was the fact that the broker has Bitcoins as assets. If you are into Bitcoin then CTOption is one of the few brokers that offer them.
Payout rates are pretty decent at CTOption but nothing out of the ordinary. On average the broker offers payout rates of around 85%. One thing to note is that you will have to dig a bit in order to find the higher payout rates.
What this means is that you shouldn’t just choose those options that are always displayed on top on the lists. Try creating your own options by playing around during the asset and expiration selection. This is where the high-paying options are. Sure, this takes a little more time but it’s worth it.
Deposits and Withdrawals
You will be able to make deposits and withdrawals with a large number of banking tools such as all major credit cards, wire transfer and several e-wallets. Deposits are always instantly executed with the exception of bank wire transfer, which will take around 1-2 days.
You will have to deposit at least $250 in order to open a real money account.
The broker within a maximum of 7 business days always executes withdrawals. In order to speed up this process it’s recommended to register with your real name and address because the broker will have to verify your identity before a withdrawal is allowed.
This is part of standard anti-money laundering policy and is mandatory at every legit broker.
Bonuses and Promotions
If you choose so you can double your deposit. What this means is that if you, for example, deposit $250 the broker can offer you $250 extra into your account. You will have to contact your account manager in order to get this bonus, as it’s not offered by default. You will however have to keep in mind that by accepting the bonus you will lock your money in until you meet a certain trading volume requirement. This rule is in place to prevent people from registering, depositing and then running away with the free money.
If you are not comfortable with the above then I recommend you don’t accept the bonus.
CTOption also offers up to 15% refund on most losing trades. This means that in practice your real winning rate will be much higher than the average 85% because you will always get some money back when you have lost an investment.
Trader Feedback on Various Forums
The main reason why I decided to review CTOption was the fact that it did not have much negative trader feedback on major online trading forums such as ForexPeaceArmy and BinaryOptionsthatSuck.
This means that CTOption is a legit broker and that its traders are satisfied with the services offered. The signs of a shady broker are always the negative comments on the forums and CTOption does not seem to have comments of this kind on the reputable online trading sites.
Negative Aspects of the Broker
The only thing I dislike about CTOption is the fact that it does not offer long-term options, that is, options with long expiration times such as several days or even weeks. However, this is not necessarily a huge problem, as the vast majority of brokers don’t have this either.
Still, it would have been nice to have this feature as well.
I believe that CTOption is a great broker mainly because of the fact that it is not shady as many other brokers that are available on the market. You can convince yourself of this as well by checking out the popular binary options and forex forums and noticing that not many people have anything to complain about this broker.
Also, CTOption offers decent payout rates with the added bonus of rebates. For this reason, I invite you to check out this broker as well by visiting its website. If you like it as much as I do then feel free to register and start trading by going to the brokers’s website here.