CTX Holdings review – 5 things you should know about ctxholdings.com

CTX Holdings review – 5 things you should know about ctxholdings.com

Beware! CTX Holdings is an offshore broker! Your investment may be at risk.

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CTX Holdings is a forex brokerage that also offers trading in indices, stocks and commodities. They list a number of account types on their website with different conditions, which we shall explore in detail below. The FAQ section claims, “You will receive a welcome e-mail with a verification link. Click on it.” after submitting the registration form, however, nothing like that happened – there was no email in the mailbox whatsoever. Upon supplying the mandatory information, First and Last Name, Email address and Phone number, and clicking Submit, we were immediately taken to the trading area where a warning message was displayed: “Wallets was not found. Create a new wallet and try again.” Overall, the Sign up process invokes a feeling of sloppiness and incompetence that raises alarms regarding the broker’s legitimacy and proficiency.

CTX Holdings regulation & safety of funds

CTX Holdings is owned and operated by Golden Dawn (IT) registered in Hungary, and has offices in London, Cyprus and Dominica, according to their website. Forex brokers operating in Hungary must be licensed by the Hungarian Central Bank (MNB or Magyar Nemzeti Bank), but checking the regulator’s website for CTX Holdings or Golden Dawn returned no results. For diligence purposes, we also checked the UK’s Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC) registers but no such entities were listed there as well. Thus, we believe CTX Holdings to be an unlicensed and unregulated broker and would not advise investing with them.

The brokerage claims to take all possible measures to ensure your utmost security, but in the absence of any regulation and/or licensing governing its activities, one should accept this with reservation. Established regulatory agencies have many rules in place to guarantee the stability of the brokerage, as well as the safety of the traders’ funds. There are minimum capital requirements for the broker to be able to operate, a requirement to keep the clients’ money in a different account from the company’s operational account, negative balance protection ensuring the trader cannot lose more than his investment and compensation schemes that would guarantee the clients’ funds up to a certain amount in case of broker’s insolvency.

CTX Holdings Trading Software

CTX Holdings provides a very basic web-based trading platform that offers trading in the instruments advertised on the website – currency, index, stock, commodity and crypto. It can be translated in multiple languages, but overall it has very limited functionalities and looks quite unprofessional.

They do not offer mobile trading apps or any software preferred by experienced traders, such as the MetaTrader 4 or its successor, MetaTrader 5. These advanced platforms provide a number of useful features, such as top-notch charting with multiple time frames and built-in technical analysis tools, various order types, copy- and auto-trading options. Furthermore, they are highly customizable and allow creation of automated trading strategies, scripts and custom indicators via the proprietary languages MQL4 and MQL5 respectively.

CTX Holdings Trading Conditions

This brokerage promotes very high leverage. For different type of accounts it starts from 1:100 and may go up to 1:1000. The accounts differ also in terms of minimum withdrawal amounts, withdrawal periods, commission, spreads and insurance. Below are two screenshots of these account types:

 


The high leverage is not something necessarily harmful, but it entails significant risks. Inasmuch as it can bring profits, it can also cause huge damages to an inexperienced trader – one can lose much more than the funds invested. For such reasons, the US regulator puts a cap on leverage for non-professional traders of 1:50, while watchdog agencies in the UK and the EU impose a 1:30 leverage cap.

The spread we see on the trading platform is in the range of 0.8 – 1 pip, which is fine, but the broker will charge a commission of 1.5% for a beginner’s account which reputable brokerages rarely do.

CTX Holdings Deposit/Withdrawal Methods And Fees

The website says you can deposit with credit card, debit card, wire transfer, Carte Bleue or PayPal and the lowest amount of payment by credit card is 100 USD. As we saw in the screenshots above the lowest minimum deposit amount was $250, which is only the first contradiction. In the trading area, the cashier will take you to a bitcoin exchange site meaning you will buy bitcoin with your credit card and then transfer it to your wallet to trade with. In order to buy $250 worth of bitcoin you are charged $7.50 currency conversion fee, but the website’s Fees section claims there is no charge on deposits. What’s more, it turns out CTX Holdings is a bitcoin based broker, meaning you lose all protection that your credit card company offers you for fraudulent charges.

The Wire Transfer option in the trading zone simply advised: “Please contact with site administrator.” which also looks quite unprofessional.

When it comes to Withdrawals, the website FAQ notes that there is a commission of $25 added to each wire transfer. This amount is not very high but many legitimate brokers cover such expenses. Also, the period of 14 business days for withdrawals is pretty lengthy – most regulated brokers will execute a withdrawal request within 24 hours and an international transfer does not take more than 5 business days.

CTX Holdings have included the standard “Non-Deposited Funds” clause too. This would include agreed or voluntary bonuses and incentives, or any other sums not directly deposited by the Client or gained from trading on account of actually deposited funds, and are of course not available for immediate withdrawal. This is a common practice of scam brokerages to make sure that traders cannot make use of any bonuses offered, making these so-called “bonuses” actually a bait for unsuspecting users.

Due to the inconsistencies and shady practices listed above, we are of the opinion traders should NOT invest with CTX Holdings because in doing that there is a great chance of falling prey to a scam and lose their money!

How does the scam work?

The most common scams are quite simple and straightforward and involve a multi-level scheme that usually goes by the following scenario. Internet users are lured by the numerous ads promising quick and easy fortunes by trading in the Forex world. When they click on such an ad they are redirected to a website tailored to the continuation of these false pledges, which asks them to register with their personal information. This data is then used by the scam brokers who immediately start to work on getting them to make an initial deposit of $200 – $300 by making even greater promises of big profits.

 

Once the users make their first deposit, the scam brokers get a fat commission on it. Now the senior scammers enter the scene. They are smooth talkers who will not stop at anything to convince traders that they are on their way to become very rich, if only they follow their advice and deposit more money to trade with.

 

Sooner or later the users will start suspecting something is not right and will want to withdraw their funds. This will not prove very easy, however. The scammer will do everything to delay their requests, by persuading them now is not the right time, asking for additional documents, or referring to specific withdrawal clauses. This is also part of the scam since the con-artists are trying to delay the users from filing for chargeback with their financial institution, and they miss the time frame for such chargeback, traders will lose their money without a chance of getting it back.

What to do if scammed?

If you’re scammed you should immediately file for a chargeback with your credit card provider. Good news is that VISA and MasterCard recently extended the chargeback period to a year and a half in an effort to combat online fraud. If you deposited with bitcoin or bank wire there is not much chance.

 

If you provided the scammers with any bank account or credit card details, such as security codes or passwords, make sure to cancel the card and talk to your bank. Also, if you are being approached by any “recovery agencies” promising to get your money back for a fee, do not fall for that. This is a piggyback scam, using the vulnerability of recently defrauded people and their hope the fraud may be reversed, and it will not recover your funds. These so-called agents will collect their fee and you will never hear from them again.

Rich Snippet Data
Review Date
Reviewed Broker
CTX Holdings
Broker Rating
11stargraygraygraygray

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11 Comments

  1. SCAMERS. no regulations, not even true broker company. Operated by Golden Dawn IT (Hungary). You can check this company only one employee (the owner) and company opened in 2020.

    https://i.creditonline.hu/hu/golden-dawn-it-kft/01093550403

    I made deposit of 250€. I had to send documents and proof of money transfer to this scammer. Than they open my account on their platform with 250€.
    Later I tried to make withdrawal of the same money, because platform is weak, and they cancel and reset my account and I had two opened orders in a big plus more than 100 pips. I didn’t get any money back. I didn’t lose it or anything just wanted to withdraw.
    Antony Novak (senior Manager – or better scammer and owner of this site, who knows if this is a real name) will talk to you and try to rip you for bigger deposit. Talking bullshit over the phone acting like professional but he is a bum and low with overall knowledge.
    First he call me about withdrawal and that money will be on my account on Monday (we spoke on Friday), than on Monday he called me and told me that money didn’t reach their account. I call my bank to check(it was a lie) and I already send him prof of transfer(they wouldn’t open my online account deposit). Now it is more than month and he don’t even replay on messages.
    On their website there is no names or phone numbers. they call you from few countries and phone callbacks are not possible.
    I googled Golden dawn to find contact number I called them and ask them about situation. Some girl said they will call me, no one called me, I try to call again same number and it is now not existing.

    avoid them in big circle. I was stupid to make deposit without checking them first.
    choose some regulated broker FCA, CySec

    I think Angelo Rigardo is fake name and created by this one person scammer and one another girl with him that calls you to make deposit. Than she will tell you that manager will call you, and then this fag Antony Novak will call you (or who knows what name will call you, but I’m sure it will be the same person with annoying voice, he present him self as Czech person). They try to look like real broker company calling you in the same way like real brokers. They will try to push you to give them remote access to your computer so he can explain you platform and ask you to make picture of your credit card and send them.

    Please seed this email to everyone, help others not to be victim of this fraud.

    I’m trying to find how to report and bring them to justice, if anyone have any information about it, please contact me

  2. Cristina De toffol

    Anche io vittima di ctxholding versato con carta 250€ a luglio, e da un mese che chiedo di poter prelevare neanche tutto, solo una parte del capitale , ma non c’è verso, il sig.semerari renato che dovrebbe essere un presunto account manager, visualizza i post e neanche risponde, la signorina alessia colei che con tante belle parole mi ha convinto di entrare in questa truffa, cerca di mediare, ma adesso sporgero denuncia alla polizia postale visto che nelle loro mani ho messo i miei documenti.
    ————————————–
    I too am a victim of ctxholding paid by card € 250 in July, and for a month I have been asking to be able to withdraw not even everything, only a part of the capital, but there is no way, Mr. Semerari Renato who should be an alleged account manager , view the posts and not even respond, Miss alessia the one who with so many beautiful words convinced me to enter this scam, tries to mediate, but now I file a complaint with the postal police since I put my documents in their hands.

    1. can you contact me so we can chase them together. better for us

  3. In June I paid 2000 after being convinced by these scoundrels that they are a serious company and today I can’t even get my money back, given that there are about 25,000 euros on the platform also because I have not been able to log in for a couple of days. and the consultant a certain Landi practically dumped me I will make a complaint at least to recover my money
    ———————————
    Io a giugno ho versato 2000 dopo essere stato convinto da questi farabutti che loro sono una società seria e a oggi non riesco a riprendere nemmeno i miei soldi premesso che sulla piattaforma ci sono circa 25000 euro anche perché da un paio di giorni non riesco più a entrare e il consulente un certo Landi mi ha praticamente scaricato farò denuncia almeno per recuperare i miei soldi

    1. can you contact me so we can chase them together. better for us

  4. please Roberto and Cristina we need to be together for this.
    My email is [email protected] send me email so we all can be together. Anyone else is welcome to come who is the victim of this fraud.

  5. I have also been scammed by these people. Soon I will make the complaint from the carabinieri in my area.
    ———————————————————
    Sono stato truffato anche io da questa gente. A breve farò la denuncia dai carabinieri della mia zona.

    1. can you contact me so we can chase them together. better for us

  6. Yes! They are Scammers will take all your money and then disappear. They talk to you as if they were real brokers and say that they will take care of your money and that you will be able to withdraw money from your account, everything is a lie, very bad experience, sad and painful, I was very silly to believe in these people. The one who called me called himself Victor Zane, then another Simon Cole, these pretend to be good people but they are quite evil, please avoid !!!!

    1. can you contact me so we can chase them together. better for us

  7. A big scam.
    Luckely I only invested $250,=. 6 weeks ago filed for drawback. No feedback received. As usual.This is a one way story. Very poor software. Very little on paper. When for instance you forgot your password and click on “forgot password”, nothing happens!
    Had to log in into my account by phone with a guy called Goldman.
    2 weeks after my drawback request, I logged in, and to my surprise my account was $64 negative! Not by my doing as I completely stopped trading!
    Someone is still looking for me what happened. 1 week ago now. No info so far.
    Am I surprised? Not!
    The moment I started to get very suspicious with this company was when I was doing some trades by myself. All failed.
    When at the very beginning I did it together with this Goldman and all trades were succesfull….. then!!!
    Pushing somes buttons???
    And then all these calls. All with no number recognition. Almost stalking. Every 2 days. Very pushing. And when you request to send messages by email, they do not respect your wishes. “Do not put too much on paper, so we can always deny it”.
    These calls is for trying to convince you to put more money into your account or to pass you on to someone who can give you sound advice on how to make more money. Luckely I declined.
    Lesson learned.
    Be warned!!
    Stay off.

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