Beware! CTradingGlobal is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
CTradingGlobal is an absolute scam – the company cannot even be called a broker in the true sense of the world, as it does not provide access to CFD trading at all – it only has an ivestment plan available. However, we will use the word to refer to CTradingGlobal, since it markets itself as a broker on its website, claiming it allows for the access to crypto CFDs. No legitimate company would be so deceptive from the get-go.
As for its actual business model, below is a screenshot of the singular investment plan it has available once one makes an account:
At least other investment scams can be bothered to come up with two or three distinct plans – CTradingGlobal only has one. It is also not believable at all that the broker can achieve the promised returns – obviously, no-one can guarantee such high profit rates as 20% daily! That comes out to 400% monthly, if profit is accrued only on business days and 600% if not.
And if you somehow think that CTradingGlobal actually has this miraculous technology that allows it to achieve the high rates, consider the following – if the broker truly had what it takes to do that, why would it need you to deposit any money? Why would the people behind it not take a business loan and become millionaires without needing to resort to paying any middlemen? There is a lot more to be said about CTradingGlobal, as the broker has a lot more shady aspects to it – we have expanded on all of them in the review below:
CTradingGlobal regulation and safety of funds
CTradingGlobal is completely unregulated. It pretends to be a UK company, with a link on its website that leads to the following website:
This screenshot is from the UK Companies House and it does not really prove anything about CTradingGlobal – first off, the certificate is for another company that has nothing to do with CTradingGlobal. Secondly, that company is listed as dormant. But all of this is strictly irrelevant since the Companies House does not even regulate the markets in Britain in any capacity. That is the job of the FCA and CTradingGlobal is not a UK broker until it has a license with it. Of course, it cannot have one – the company advertises itself as dealing in crypto, the derivatives of which have been banned in the UK altogether!
This means that CTradingGlobal cannot provide you with any of the protections real UK brokers have for their clients – for example, access to guarantee fund and a Negative Balance Protection policy!
CTradingGlobal trading software
CTradingGlobal does not provide access to any trading – and, therefore, it does not provide access to any trading software. What use is a conventional trading platform like Metatrader 5 to a scammer like CTradingGlobal anyways?
CTradingGlobal deposit and withdrawal methods and fees
CTradingGlobal accepts deposits only via Bitcoin – this means that the broker seeks to limit its clients’ available chargeback options. A lot of scammers only accept deposits in Bitcoin, as they are anonymous and untraceable.
How does the scam work?
CTradingGlobal is definitely running a scam – and here is how the scheme it runs works:
First off, someone stumbles upon the website the scammers run – and on it, they are prompted to make an account and leave a phone number in the process. Once the scammers have access to that, they will start calling around the clock to demand more and more deposits – only stopping if their victim runs out of money or realizes what’s going on – at which point, they cut them off and move on to new targets!
What to do when scammed?
If you have been scammed, take the following steps to limit further losses:
First off, reissue whatever forms of credit cards and IDs the scammers had access to and remove any remote control software they had you install.
Contact your bank and see if you can file a chargeback – but if that is not possible, know that any recovery agency that demands an upfront payment for its services is simply another scam!
Finally, leave a comment below with your thoughts on the company – that will help raise awareness of the scam, which is the best way to combat its spread!
