Thinking of getting into business with CTL Markets? Here is what you must know about this broker. Carefully read this review to find out if ctlmarkets.com is the trading platform you will want to trade with.
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About CTL Markets Broker
CTL Markets is an offshore brokerage company with a lot of promises for traders. The broker says it is located in Bulgaria.
The broker claims to offer 24/7 traders support, superb 1 and 1 training, spreads from
0.0 Pips, and 30ms execution speed.
There are different account types CTL Markets offers. See below.
In spite the trading instruments CTL Markets claims to offer, traders must know they are dealing with an unknown broker whose regulation claim is false.
ctlmarkets.com: Reasons to Avoid This Broker
ctlmarkets.com is a platform with no financial authority overseeing its financial services. The regulation claim is not legit as no financial authority recognizes this broker.
Another red flag we noticed on ctlmarkets.com is that it has no demo account for traders. Since traders can’t test CTL Markets broker on a free account, we can’t know its viability in the forex market.
Again, this broker does not offer money back guarantee which means trading on such platform is clearly a risk.
These are cons for forex traders to avoid losing money with this broker.
Withdrawal and Deposit
Withdrawal process
Under the withdrawal policy, CTL Markets charges 5% for Credit/Debit cards and up to $25 for Wire Transfers.
The broker also charges $100 for an inactive account of 30 days.
Minimum Deposit
CTL Markets provides a recommended minimum deposit as $250, but it can be higher than that according to the account type $10,000.
As for the payment methods, we can make payment via Debit/ Credit card and Wire transfer. However, you should not consider making any payment with this broker because it is a risk. So beware!
CTL Markets Platform
CTL Markets offers web based trading software and not MT4 or MT5 (Industry standard trading platform) which gives us more reason not to take the broker serious.
As for the leverage, it can get up to 1: 150. Nevertheless, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
CTL Markets Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation that means your money is at risk. Its unlicensed and unregulated claims are truly a red flag and must be avoided.
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Conclusion: Is ctlmarkets.com a Reliable Broker?
ctlmarkets.com does not seem like a reliable broker for traders even though it promises offers that look good to be true.
The broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.
Because we have taken it as a duty to review forex brokers and also share reasons, we will not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.
CTL Markets are total scammers