CitiTrader is a relatively new trading platform based in Bulgaria which has garnered attention due to its excellent trading software and valuable option trading tools. Although the CitiTrader.com site is a bit lacking in style as well as educational resources and customer support availability, there are a lot of reasons why the CitiTrader broker has become popular. Chief amongst these reasons is their autotrading and signals service, along with their initial deposit bonus.
Software and Features
Powered by the industry leading SpotOption trading software, the trading experience at CitiTrader is one of the best. The browser-based software runs amazingly well and gives traders a wealth of charts and trading possibilities. Though they claim to offer a rich educational center, there is very little information available for new traders on how to trade. Also, the live chat customer support is sometimes non-responsive. But on the plus side, there is a CitiTrader free demo account available. Additionally, they offer a signals service and even an autotrading service for some members.
Option Types Offered
Compared to many other brokers, CitiTrader offers a large amount of different options to trade. Currently, there are 84 stocks, currencies, commodities, and indices which traders have access to. These options can all be traded in numerous ways through the SpotOption platform; in addition to dozens of different expiry times, there are 60-second options, touch options, and an options builder. One of the best features found during our CitiTrader review was the Citi Meta platform, where options can be traded in a real-time, chart supported environment. Returns on in-the-money options are a mediocre 65%-75%, although losing trades can return as much as 10%.
Account Types Offered
Following the modern trend, there are no tiered accounts at CitiTrader, everyone has the same basic type of account. Of course, traders who make higher initial deposits get more benefits, with the generous CitiTrader bonus as high as 100%. Those who make deposits over $1,000 also have access to the VIP autotrading service.. The minimum deposit is a rather steep $300; and while deposits can be made through credit cards, withdrawals are only available through wire transfers.
As with every other broker out there, not everything at CitiTrader.com is perfect. But although there are downsides, they make up for it by running some of the best software out there, having a large asset list, offering a large bonus, and providing their traders with some powerful trading tools. That makes the pluses far outweigh any issues CitiTrader might have.