CITIC Futures is a forex broker that claims to offer a variety of trading products and services. However, there is a growing body of evidence that suggests that CITIC Futures is a scam. In this article, we will take a closer look at CITIC Futures and explain why you should avoid it at all costs.
Company Overview
It is a relatively new broker, having been founded in 2021. The company claims to be headquartered in Hong Kong, but there is no evidence to support this claim. The company’s website is poorly designed and lacks important information, such as the names of its management team and its regulatory status.
Does CITIC Futures Have Any License?
No, CITICFutures does not have any licenses to operate as a forex broker. The company is not regulated by any financial authority, including the Financial Conduct Authority (FCA) in the UK, Securities and Exchange Commission (SEC) in the US, or the Australian Securities and Investments Commission (ASIC).
Is CITIC Futures Regulated By Any Authority?
No, It is not regulated by any authority. The company claims to be regulated by the China Securities Regulatory Commission (CSRC), but this is not true. The CSRC does not regulate forex brokers.
Pros and Cons
Pros:
- Low minimum deposit
- Variety of trading products
Cons:
- Not regulated by any authority
- Poorly designed website
- Lack of transparency
- Negative reviews from former clients
How Does CITIC Futures Reach To Their Prey?
They uses a variety of methods to reach its prey. They often target inexperienced traders with promises of easy profits. This company may also use social media and online ads to lure in victims. Once they have a victim’s attention, they will pressure them to deposit money into a trading account.
Technical Details
Minimum Deposit:
The minimum deposit requirement at CITIC Futures is $100.
Trading Platform:
This company offer a proprietary trading platform that is not very user-friendly. The platform lacks important features, such as charting tools and technical analysis indicators.
Spread:
The spreads at CITICFutures are high, which means that you will pay more to trade.
Leverages:
The leverages at CITIC Futures are also high, which means that you can magnify your profits or losses. However, high leverage can also be risky, especially for inexperienced traders.
Packages and Products They Offer
They offer a variety of trading products, including forex, commodities, indices, and stocks. The company also offers a variety of trading packages, but these packages are of poor value.
Withdrawal and Deposit Method
CITICFutures offers a variety of withdrawal and deposit methods, including credit cards, debit cards, and wire transfers. However, the company has been accused of delaying or refusing withdrawals.
What Do Their Previous Traders Say?
The reviews of CITICFutures from former clients are overwhelmingly negative. Many people have complained about the company’s fraudulent activities, such as refusing withdrawals and rigging the trading platform.
Summing Up- Why Should Not You Trust CITIC Futures
There are many reasons why you should not trust CITICFutures. The company is not regulated by any authority, its website is poorly designed, and it has a history of negative reviews from former clients. If you are considering trading with CITICFutures, I urge you to reconsider. There are many other, more reputable brokers out there.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have lost money to CITIC Futures, you are not alone. There are many people who have been scammed by this company. If you need help recovering your lost funds, we recommend choosing one from our recommended recovery services as we know what can be the best for you. These firms have the experience and expertise to help you get your money back.
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Final Thoughts
CITIC Futures is a scam broker that should be avoided at all costs. If you are considering trading with this company, our advice is to reconsider. There are many other, more reputable brokers out there.
If you have any questions or concerns about this article, please do not hesitate to contact us.
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