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Read our expert analysis of CT-Trade, including its background, regulation, trading conditions, and reports of scam activities from real traders.
CT Option launched in 2013 as a binary options broker. It offered trading in forex, stocks, cryptocurrencies, indices, and commodities. So seeing it in the scam broker list was kind of a shock.
Because I knew it was an unregulated offshore broker. But scamming? That was not expected. But it turns out to be true!
The Financial Conduct Authority (FCA) has flagged CT-Trade as a clone firm scam. In simple terms, fraudsters were copying the details of a real, licensed company to trick people into believing they were genuine.
This tactic gave them a fake air of credibility while they scammed unsuspecting traders. In the end, they were labeled as scams and can no longer operate.
This broker didn't get exposed easily. It gets noticed by legal teams after many traders have already lost their money and are beating their heads. Here is their exposure journey at a glance -
| Issue | Description |
|---|---|
| Withdrawal Denied | Traders deposited funds but couldn’t retrieve them. |
| Fake Address | Used Citibank’s real address to mislead investors. |
| No Real Support | Contact info was either fake or unresponsive. |
| Low Trust Score | Rated extremely low on broker review platforms like WikiFX. |
The FCA has issued a warning that CT-Trade is a clone scam. Fraudsters are misusing the name and details of the genuine, FCA-authorised Citibank Europe plc to trick people in the UK.
In reality, CT-Trade has no FCA authorization and is only pretending to be a legitimate firm. All those things cost them a huge legal struggle.
In 2019, regulators in both the UK and Cyprus stepped in after discovering major issues with AFX’s finances and client fund management. The company’s assets were frozen, and it was ordered to stop all regulated activities.
The Cyprus Securities and Exchange Commission (CySEC) officially revoked AFX Capital’s license, ruling that the firm no longer met the standards required to operate legally.
CySEC didn’t stop at pulling the license. It also issued hefty fines and slapped multi-year bans on the CEO and several directors for breaking regulatory rules. Even the company’s auditors were fined for their role.
To protect clients, the UK’s FCA placed AFX Markets Limited into special administration. This move allowed appointed administrators to start the process of recovering and returning client funds.
CT trade doesn’t even have any websites as of 15 September 2025. So if you spot any in this name, then it’s another scam broker.
You'd better run!
