However, CitiTrader has received a significant amount of criticism since its foundation. This is primarily because this broker initially posted extravagant claims that it then failed to honor. For example, CitiTrader adopted a strategy stating that it would supply the best binary options educational facilities anywhere on the marketplace. In reality, this company just provides only a very limited FAQ.
The withdrawal policies implemented by CitiTrader are also somewhat dubious. For example, you can only withdraw the identical sum of money that you originally deposited using the same credit card. If your account balance exceeds this value; then the remainder must be withdrawn by bank wire, which will cost you $25 per transaction. However, you require a minimum of $500 to use this later facility.
Consequently, these ill-conceived regulations have created widespread stress and confusion among clients. For instance, envisage that you initially deposited $200 using a credit card and then made a profit of $100 from your binary options trading. You would now experience problems if you attempted to withdraw this entire amount.
As you could only remove $200 using your original credit card, you could then have to utilize a bank wire to access the remaining $100. However, you would not be able to perform this latter operation because this value is below the minimum sum required of $500. Many traders have published numerous complaints about locked-up accounts on the internet exposing the frustrations they have experienced withdrawing funds from CitiTrader.
If you undertake your own due diligence on CitiTrader, then you are advised to perform an in-depth study into clients’ grievances that are posted on the internet. Unfortunately, you will find a significant number complaining about a wide-range of problems encountered from using CitiTrader.
In conclusion, although there is no concrete proof confirming that CitiTrader is an out-and-out scam, too much uncertainty exists about the quality of its operational procedures and services to be able to confidently recommend it as a serious candidate for a binary options broker. As such, you are strongly advised to evaluate other premier brokers.
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