CTsolutions – Can You Trust Them?

Website URL: https://ctsolutions.uk

Founded: 2021

Regulations: None

Languages: English, Chinese (Simplified), Dutch, French, German, Italian, Portuguese, Spanish, Russian, Arabic

Deposit Methods: Credit Cards, Wire Transfers

Minimum Deposit: $250

Free Demo Account: Not Provided

Number of Assets: 1,000+

Types of Assets: CFDs, Forex, Crypto Coins

Trading Accounts and Conditions

CTsolutions offers their clients the following types of trading accounts:

• Micro: For this account, the basic deposit amount is $250. You get an up to 10% bonus.
• Classic: For this account, the basic deposit amount is $1,500. You get up to 40% bonus.
• Silver: For this account, the basic deposit amount is $25,000. You get up to 75% bonus.

There is no information about the leverage ratios, spreads and other trading conditions. However, when we accessed CTsolutions’ trading platform, we saw that the spreads were at 0.0 pips and the leverage was at 1:200.

CTsolutions – Advantages

CTsolutions is not a broker to be trusted. They are a scam operation.

CTsolutions – Disadvantages

Here are all the reasons why CTsolutions is not a broker to be trusted:

• Anonymity and Lack of Regulation

The first red flag that tells us we cannot trust CTsolutions is their complete anonymity. This broker’s website lacks any of the corporate information that regulated brokers are required to provide – the name and address of the company that owns and operates their domain, the telephone number and other contact information, and the licensing and registration information.

We also checked CTsolutions’ legal documents and we still did not find any information about their parent company.

With regard to their location, their domain name www.ctsolutions.uk suggests that they are based in the UK. However, when we checked their legal documents, we found out that the broker claims to be operating under another country’s jurisdiction – Estonia.

To operate in either the United Kingdom or a member of the European Union (Estonia is a part of the EU), a broker needs to be regulated by the FCA (Financial Conduct Authority) in the UK or by the Estonian Financial Supervisory Authority (EFSA). We checked the online registers of both these authorities and found that there is no broker by the name of CTsolutions listed.

So, considering the fact that this broker has no corporate information and is unregulated, we can say with certainty that we are dealing with an anonymous and illegal scam operation.

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• Basic Web-Based Trading Platform

On CTsolutions’ website the broker promises a state-of-the-art trading software. To see what kind of platform this broker was actually offering, we registered for an account with them (since they did not have any demo account either). What we found was a far cry from the sophisticated, technologically superior platform they promised. We saw a web-based trading platform that offered only the most basic functionality.

On the platform offered by CTsolutions, users get a simple buy-sell function and a non-integrated price chart. That’s it.

This couldn’t be a stronger sign of a scam since legitimate brokers go out of their way to make sure that their customers only get the best trading software the market has to offer.

• Poor Trading Conditions

When you check CTsolutions’ Account Types page, the only pertinent pieces of information about each of the accounts are the bonuses and minimum deposits. There are no trading conditions mentioned.

For that information, we were forced to check their web-based trading platform. From there, we found out that the maximum leverage ratio was at 1:100 and the spreads started from 0.0 pips for the benchmark forex pair, the EURUSD.

While a minimum deposit of $250 is not too bad for a forex broker, there are many reputed brokers who will let you open an account with them for less than $10. So, when you compare this minimum deposit to those brokers’, then it does seem a little too much.

As for the leverage, it is much too high, especially when we consider the fact that this broker is targeting clients in the UK and the EU (among other jurisdictions). Because of the danger of major losses attached with using high leverage ratios, regulators in jurisdictions such as the UK and the EU have put limits on how much can be offered. In these two jurisdictions, the maximum leverage that any regulated broker can offer is 1:30. Therefore, a 1:100 leverage is too high and illegal to boot.

Now, about the spreads. A 0.0-pip spread is too good to be true – unless the broker also charges hefty commissions to make up for the tight spreads. And since this broker has not mentioned the kind of fees they charge, we don’t know how much traders will actually end up spending to trade with this broker.

Overall, CTsolutions’ trading conditions are not the kind that we would endorse, even if this broker had not been a scammer.

• Possible Serial Scammer

We could be dealing with a serial scam operation with CTsolutions. When we went through this broker’s Terms and Conditions, we realized that the exact same language and text had been used by other brokers, all of whom had been exposed as scams. Some of them are www.rockfordfx.com, www.metafmi.com, www.wbiinvestltd.io and www.wise4x.com.

• Unfair Terms

The terms and conditions that CTsolutions has in place are not very fair. For example, if you wish to withdraw your money, and you have not met a turnover target of 200 times or your account hasn’t been verified, then you will be charged an additional 20% of your withdrawal amount.

And then, if you have accepted their bonus, then you will have to meet a trading volume requirement: 30 times the bonus amount + the deposit amount.

The broker also charges 10% extra if your account is inactive, but the broker is not clear about when they will consider your account inactive – 3 months or 6 months. 

Conclusion

CTsolutions is a scam operation, most probably a serial scammer, and trusting them with your money would be a very bad idea.

CTsolutions

2.2

User Experience

2.5/10

Payment Options

2.0/10

Security

2.4/10

Support

2.0/10

Reputation

2.0/10

Pros

• None

Cons

• Anonymity and Lack of Regulation
• Basic Web-Based Trading Platform
• Poor Trading Conditions
• Possible Serial Scammer
• Unfair Terms