CTOption is one of the many binary options brokers which differentiates itself by offering an advanced trading platform and many innovative and flexible solutions investors. The company operates in more than 90 countries all over the world. CTOption as a company was founded in 2010 under British Law. The company is based in the United Kingdom and is subsequently governed by the UK legal requirements.
To open an account, it requires a minimum deposit of $ 250 USD and provides a bonus of up to 91%, a fair deal as most brokers offer a maximum of 80%. The minimum trading amount is set at $5 while the maximum is $10000.
Types of accounts
There are three basic accounts available and these are: Mini, Standard and Executive.
The Mini account is the first level of account and for an investor to open this type of account, they require a minimum deposit of $250. The benefits of this account include full time customer support, a trial replicator account and access to a live trading room and online trading induction training. This account is ideal for novices seeking to learn the trade.
The next level is the standard account where one has to have an initial deposit of $1500-4999. The benefits under this type of account include access to a personal account manager and better bonuses as compared to the mini account. An induction training conducted by a professional trader is also included in the package in addition to a life time demo account.
The Executive Account is the premium account whose benefits include an induction course with a professional trader, insurance, and a 20% refund when losses have been incurred. The initial deposit for this account does not go below $5000. The Standard and Executive accounts are mainly geared towards the advanced and professional traders who deal with huge sums of money and need various innovative tools and solutions and higher potential payouts.
The Islamic account is also available and is compatible with all the other three accounts and, particularly for the moslems, is operated in accordance with the Sharia Law, excluding any additional expenses or restrictions.
There is also a demo account, a virtual trading account, available to especially the novices who would rather practice with the Panda TS and MT4 platforms to perfect their skills before engaging in the actual trading.
There are different bonuses available under CTOption that accrue to the investor and this is determined by the different account types, before the money can be withdrawn, the bonuses have to have been invested a certain number of specified times thereby ensuring accountability and preventing abuse of the bonus system.
The trading platform for CTOption is based on the Panda TS software, a popular trading platform, manufactured by Panda Trading Systems Ltd. This trading platform is preferred because it is reliable, has innovative features, zero latency, and is very precise, ensuring that most traders and brokers world over rely on its functionality. It is an easy to master and use platform and is convenient for novice traders. However, it is stated by some that the Panda platform requires to be made more colorful and more exciting. r somehow more eye catching. Nevertheless, all the features are easy to excel after short introduction.
The platform is also ideal for hyper trading, the 60 second trading option availed under CTOption, including the other extra short term expiry product options which range in the time period of 30 seconds, 2 minutes, 5 minutes and 10 minutes. The software also supports high/low, range and touch options.
Mobile trading as an option is also available on the CToption trading platform and downloadable from the Google Playstore or the Apple app store. This easy to use platform allows even traders on the move to be able to monitor and implement trading activities and its additional features enable one, even when they are not trading actively, to be able to explore potential trading opportunities and familiarize themselves with the process of investing more profitably.
CTOption offers the luxury of 24/7 withdrawals in case a person has extra profits on their account. However, it should be noted the withdraw transaction itself takes 2- 5 working days to mature dependant on the withdraw method used. The withdraw methods available include wire transfers, Skrill and MoneyBookers, the latter methods taking the least amount of time (2- 3 days) and the money transfer method taking the most amount of time (5 days).
These methods support practically every credit card and e-payment method on the market and so are reliable and trusted.
There is a comprehensive and detailed list of assets under CTOption which feature is similar to what other trading brokers offer. Most common and well traded companies will most definitely be found in the list of stocks and the cautious trader will have a variety of less volatile aspects to choose from including a variety of over 30 different currency pairs. CTOption offers also a rare and unique option for the tech savvy person, the possibility and ability to invest in currency compared to Bitcoin value. Bitcoin is a novel online currency that is understood mainly by the technology experts and enthusiasts.
Trading, usually done during the week from Monday morning to Friday evening, is done on a wide range of assets which include a total of more than a hundred different assets, a combination of high/low, one touch, Range, and Hyper. The Commodity options available include oil, gold, silver and copper.
CTOption also provides a variety of learning material and a hands-on introductory guide on how maximize the trading program opportunity. The guides available include the is guide for platform guide, the binary options guide, the glossary for binary options, the binary options basics guide, the how to trade options guide, the binary options strategy, the binary options e-book, the binary options VOD and the binary options advanced courses.
Furthermore, CTOption avails, to the traders, a 24/7 customer service option that helps traders via different platforms like the live-chat, via phone contact or email correspondence.
The Replicator option
The Replicator, a feature only available under CTOption, is an innovative social trading technology, where traders are given the unique opportunity to learn from top traders on the platform by observing and following their trading activities and thereafter replicating those actions in the hope of getting the same profitable returns. A trader has the option of following as many expert traders as they want based on many factors and aided by the fact that there are detailed profiles on the platform which contain relevant information about the trader’s activities and results.
The Replicator option in Manual Mode allows a trader who wants to replicate the activities of an expert trader to monitor the latter’s trading activities only thereby being able adapt the trader’s strategies and also obtain helpful insights for trading. This helps a trader to find ways of minimizing risks and to also ear mark the best opportunities on the market.
In preview, many people have viewed the CTOption as a scam, mainly because of a few disadvantages which affects its credibility. Some of them view the bonus term features as a scam but that is mainly because they have not read the terms and conditions of the bonus terms and neither have they understood the operations of what they are getting into.
Another source of contention among the traders is the 5% rules regarding position size which state that when a trader wants to open a position that is equalling to 5% or more of their overall balance, they are required to notify their account manager before trading in that amount otherwise the transaction gets canceled, whether they have incurred wins or not. However, this rule is required to regulate the trading relationship of the trader and their account manager who is not supposed to trade without the consent of the trader.
Furthermore, there is need to expand trading activities from just the intraday and other short term trading options like the hyper trading to cater for a wider variety of traders. Withdrawals are available to be made 24 hours a day, a fact that may mislead some to think that they will get their money in 24 hours. This is not the case. Most withdrawals, ie credit cards and wire transfers, will take 5-7 business days according to the terms and FAQ’s but there are quicker methods available such as Skrill or MoneyBookers (2-3 days). The terms are very clear in stating that they require a single source of payments in order to comply with AML laws and other reasons. This is a good idea and I highly recommend using the Skrill/MoneyBookers/e-Pay method.
CTOption is a great option for any trader because it uses a well-equipped platform, trading can be done fast, and there is supports high/low, range, touch and Hyper Trading on the platform, and there is an impressive list of assets to trade in available. Furthermore, it has unique features like the binary replicator model and trading Bitcoin currency and external API support for auto trading.