Is CT-Trade a regulated forex broker or a scam?

Our research showed that CT-Trade broker is a total scam. It is NOT SAFE to trade this company. While we checked the company there is no authorization or registration of the address, therefore the company seems to be highly suspicious and seems to be a clone firm. 

About CT-Trade
🗺️ Registered inNo Registration
🗺️ Type of LicenseNo License
🛡️ Is CT-Trade safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

CT-Trade is the clone company of the Citibank Europe plc. The clone claims to be regulated by Citibank Europe plc and have the same address with the original company – 71-75 Shelton Street, London, WC2H 9JQ, UNITED KINGDOM. Therefore, the clone should also be carrying the UK FCA license as the original company does. But the CT-Trade is not licensed in the UK or any other countries. In case, of obtaining the STP license from UK’s Financial Conduct Authority, the company would need to pay USD 50,000 and also need USD 100,000 of capital aside from client deposits.

Clone firms use some or all of the details of a genuine entity, aiming to convince investors they are indeed the authorized company or that they work with them.

Conclusion

We advise all investors and traders to avoid CT-Trade and other unregulated brokers. The lack of information about the broker’s regulation, trading conditions, and contact details should be the biggest red flag for those who plan to invest with the entity. Usually, such companies run investment scams. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as Plus500 and XM.com.

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