CiTrades is basically a very good broker. It’s really hard to fault this broker. The payouts are juicy, the platform is good and they offer a completely free binary options demo account. How can you resist that! That’s why we have rated CiTrades the number one binary options demo account broker. Very few brokers of this caliber offers a totally free, no strings attached demo account (as long as you use our sign up link). Among the big, well-known brokers this is unheard of. Either they don’t offer one at all or you have to deposit a bundle of cash first before you get a demo account – that kind of defeats the purpose of a demo account. The payouts are good at 85% (plus 15% OTM), basically the industry average and the SpotOption platform is easy to use with nice charts and some other features that are good for traders. The only reason we don’t give CiTrades a five star rating is the payouts, if they were a little higher this would be the perfect binary options broker to start with. You should remember though that a 75%/15% return is much better than 85%/0%, although it might seem different to the rookie trader.
CiTrades General Impression
Searching on the internet for comments about CiTrades will give you the impression of a good broker. Some binary options brokers are just horrible, but CiTrades stands out as one of the better ones. Usually the big ones are big for a reason. We haven’t found any serious complains about this broker and that’s a very good sign, especially since they have been around for some time now. Finding a broker with negative comments are impossible in our opinion, at least that what our research have found. If you want a broker with higher payout but still free demo account, we recommend GTOptions. The difference is small though.
The trading conditions for this broker is average – hoovering around the industry average. However, there are brokers that offer better payouts, but they are only a few of them and none of them offer a completely free demo account. This makes the CiTrades propositions very attractive, a big name broker with good payouts and a free demo account. CiTrades offers a lot of underlying assets (90) and in addition to High/Low binary options also One Touch and Option Builder. They have pretty much maxed out the SpotOption platforms with all the bells and whistles. Now they also offer 60 second options to complete their product portfolio. Al-in-all a complete binary options broker with something for every trading style.
The charting that binary options brokers offer today are very simple and basic. It does the job but that’s it. At least some brokers have made bit more effort by offering larger charts and the possibility to access price history. This makes is much easier to make the right decision when trading. Information is power and that is also true in trading. The more price history available the better predictions you can make and thus better trades, which ultimately means more money in your pockets. Traders live by price and the better the tools are in this area the better we can trade. The following charts shows the charts:
Support is among the best ones and that is to be expected as this is a major player on the binary options broker market. They offer the usual phone, email and Live Chat. You can choose whatever you want of these, but the Live Chat is the easiest and fastest of the support options. It’s our preferred way of communicating with any broker really, except if there are some extraordinary issues.
The CiTrades Facts
- Headquarters: Arizona, USA
- Founded: 2010
- Minimum Deposit: $300
- Minimum Transaction: $5
- Maximum Transaction: $3000
- Markets: Forex, Stocks, Indices, Commodities
- Number of Assets: 90
- Max In-The-Money Return: 75%
- Max Out-Of-The-Money Return: 10%
- Lock-Out Period Duration: from 2 minutes
- Option Frequency: Every 15 minutes
- Early Closure:
- Roll Over:
- High/Low Binary Options:
- One Touch Binary Options:
- Boundary Binary Options:
- Deposit Currency: US Dollar, British Pound, Japanese Yen, Euro, CAD, Indian Rupies
- Account Funding: Visa, MasterCard, Dinners Club, Maestro International, JCB, Carte Bleue, Dankort, CartaSi, Laser, Discover, Liberty Reserve, MoneyBookers, Money Gram, Wire Transfer
- Accepts Clients From: All nationalities
- Demo Account:, completely free
- Deposit Bonus:, up to 150%
Review by Howard Maslow