CT Trade is a broker from Warsaw, Poland. They have operated since 2017 and they belong to the CT-Trade LP. Right at the beginning of this review, I would like to point out one thing. This is an unregulated broker, so keep that in mind.
I must emphasize that trading with an unlicensed broker is quite dangerous. You cannot count on any assurance for the safety of your funds and as a potential client, the only thing you can stick to is the promises the broker offers. That said, let’s see what CT Trade can offer and are they capable of fulfilling that offers.
Currently, the website is available in two languages English and Russian. I really cannot say this is the best website design since it has many errors, but it is fast and responsive, which is a big plus. Now, onto those errors I just mentioned. Some pages in the main menu work excellent and have good loading speed. But others require a lot of time to load and some of them are not working at all.
When it comes to accounts types available, there are four different ones. That’s a great selection, in fact. I am very pleased to see that clients have numerous choices. The smallest account is called Take Off. The minimum deposit is $250, and you get one free trade, +1% payout and 100% sticky bonus which cannot be withdrawn.
Next one is Standard Account Type and the minimum deposit required is $1000. You will get two free trades, +3% payout and a 100% balance bonus. Premium Account is the one where you need to deposit at least $5,000. For that money, you get three free trades, +5% payout, 150% balance bonus, 50% pending bonus and online trading signals.
Lastly, we have a VIP Account. The minimum deposit is $10,000 and you will be able to enjoy five free trades, +5% payout, 200% balance bonus, 100% pending bonus and online trading signals.
These offers are not bad at all, but there is one thing I dislike. They never mentioned anything about education. Usually, with accounts like Premium or VIP, you receive free educational material like online books and guides. CT Trade apparently doesn’t care much about that, which is a big mistake since we all know how important it is to improve your knowledge about Forex always.
Platform and Execution SCORE: 20%
They offer a Web Trading platform that is optimised for mobile and tablet as well. Unfortunately, they do not give clients the possibility to use MT4, the most popular platform. Instead, they provide unique solutions with useful indicators like RSI and SMA.
They promise a quick, precise and clear platform with the intuitive interface. Well, I cannot say if that is what they provide since the platform is not working. Once you make an account and try to access the platform, the only thing you see is a message saying “CT-Trade.com is currently unable to handle this request.”
This is a huge problem since apparently errors like this happen a lot at their website. As a trader, the last thing you want is to be unsure each day whether the platform will work or not. Unfortunately, this is a big disappointment. They started well with those Account Types, so let’s hope they will manage to work on this platform and overcome those errors that appear.
Withdrawal Speed SCORE: 60%
You can deposit or withdraw funds in every currency, but operations on trading platforms are executed in USD. Conversion to USD is performed automatically for all payment methods. For deposits, they do not charge any commission. But when it comes to withdrawals, you will have to pay a banking commission of $30 if you choose Wire Transfer as a method.
You can withdraw all funds from the account at any time, but you need to use the same method through which the deposit was made. When you decide to withdraw money, you must make a request in your account. If you request more than you have at disposal, they will decline the request instantly. But if you request enough, the withdrawal process will take from three to ten business days.
Three business days is fine, but ten is a lot. This means you will have to wait for two weeks just to see if your request is accepted. After that, you have to wait for more to see money on your account. That said, I have to give them negative points for this. They could make the approval process much faster.
You can withdraw funds using one of six methods they provide. Credit/Debit Card (Visa or MasterCard), Skrill, PayPal, Neteller, Web Money and Wire Transfer. There is no minimum withdrawal amount, except for Wire Transfer where it is $250.
Support and Assistance SCORE: 10%
CT Trade never mentioned anything about support and assistance. They do not offer constant support. As a matter of fact, it is impossible to find out what their working time is. So, the only thing left is to send them an email and hope you will receive a reply at some point.
There are two possible ways to contact them. One is through email and the other is a phone call. They even put icons on their social media platforms but don’t get excited too early. Once you click on the icons, it just leads you to the “About Us” page on the website, not to the actual social media profiles. So, you cannot send them a message there.
I really didn’t expect such bad customer support. Each broker usually gives their best to have available agents that are at the client’s disposal, but not CT Trade. So, if something unexpected happens or you simply want to ask them something, good luck. Most likely you will never get an answer.
Education and Tools SCORE: 50%
When it comes to education, they never specified what you get within accounts. But the thing is, they do have separate sections dedicated to Forex learning. If you go to the main menu and click on Education, they will offer different lessons.
You can choose between Video lessons, Forex eBook, Advanced Forex, Commodities eBook and CFDs eBook. They offer one free lesson per each section and if you want to learn more, you will have to pay additionally.
When it comes to learning material, I can say they did a great job. They have lessons for everyone, so it doesn’t matter if you are a beginner or a pro, you will find something. But the thing is those lessons should be available for their clients for free. So, depending on an account they should list them as an offer.
Another thing I dislike is the absence of the Forex news section. They said it’s coming soon but never specified when. Each trader knows the importance of daily market news. If you want to trade successfully, you need to be informed about all the things that happen on the market. No one wants to have an account at one place and go to another to check the news.
The Bottom Line
As you can see, CT Trade is not a place that can offer a lot of things. Oftentimes, when a broker is unregulated, it gives a lot of opportunities and competitive offers just to attract new clients. Well, that is not the case with CT Trade. You won’t find attractive offers or great deals.
When I summarise everything, I can tell you one thing—you can find much better brokers out there. The main problem is their platform. You cannot trust a broker if they don’t provide a flawless platform that works constantly. So, don’t waste your time when you can have great deals, education and bonuses at other brokers.