CTL Markets Detailed Review – Another Fake European Broker?
In this article, we will talk about a well-known CLT Markets fraudulent investment company and why you shouldn’t trust every Europe-based broker.
|Regulated by:||Unlicensed brokerage|
|Blacklisted as a Scam by:||FCA|
|Supported Platforms:||Web platform|
|Types of Assets:||Forex & CFD|
|Free Demo Account:||N/A|
|Accepts US clients:||N/A|
What About CTL Markets Regulation?
CTLMarket positions itself as a European broker since they are headquartered in Sofia, Bulgaria, according to the data mentioned on the official website. However, after a little research, you can find out that the company is not regulated by any financial authority legitimate in the EU. In addition, it is obvious that the European financial Institutions regulatory system imposes rather strict requirements, for example, the liquid capital of more than 730,000 euros on the organization’s bank account or the prohibition of bonuses that the broker brazenly offers despite the restrictions of the authorities. The lack of audit and supervision of the broker’s actions indicates their system’s absolute lack of transparency, which is unacceptable for financial institutions operating in the European Union.
CTL Markets Warnings From Financial Regulators
In some cases, CTLMarket calls themselves Triton Capital Markets and FXCT Investments. Of course, some people would say that these are just subsidiaries. Still, it is known that one of the most prominent regulators – the FCA – regarded Triton Capital Markets as absolutely fraudulent. As for FXCT Investments, CTLMarket clients, for some mysterious reason, must sign an agreement with this company to cooperate with CTL Market. And according to many verified open sources, this company has long been convicted of fraudulent activity. Obviously, all the companies mentioned above are the same organization operating under different names and using the same fraudulent schemes.
Most Of The Victims Live In Europe and Australia
We have already mentioned the stringency of European Union laws regarding financial institutions and private organizations. Probably, the fact that most of the victims of the scam broker are citizens of the UK, Ireland, and Sweden indicates the great faith of people in the power of the law. In addition, a huge percentage of those affected by scams live in Australia, which is known for its ASIC regulator – one of the most reliable in the world. So, it is unlikely that the broker’s head office is located in Bulgaria because every investment organization in Europe is under strict government supervision.
Withdrawing Funds Issues
Withdrawal fraud is a favorite technique of most scammers. It allows them to stretch the cooperation process and extract as much money from customers as possible. According to feedback from deceived depositors, CTLMarkets broker is known for high withdrawal fees or a total refusal to complete transactions.
Beware of Extra Fees Before Withdrawing Funds
What are the problems with the withdrawal of CTLMarkets clients? Let’s find out by considering the example of the feedback of one of the deceived depositors. He invested $36,000 in the plan and managed to earn over $250,000. After requesting a partial withdrawal, the company demanded an $11,000 fee, which he paid. Then he had to spend another $10,000, but he didn’t see the money he earned in his bank account until one of the funds recovery companies helped him. A similar situation with commissions is observed with dozens of other clients.
Traders About CTL Markets Scam
Many forums are filled with negative feedback from clients of the scam broker. Most of the complaints are related to high commissions and the inability to withdraw funds. In addition, positive reviews look rather strange – they are much shorter than negative ones, they cover fewer details, and almost don’t reveal any aspects of cooperation. This may indicate that the broker creates fake accounts to spread false reviews.
How Does Scam Schemes Work
Actually, most scammers use rather primitive and trivial methods to mislead the audience. The obvious lack of regulation, disobedience to laws, too high leverage, good reviews from customers – all this can be easily checked to avoid scammers. In most cases, even veiled deception schemes use data that can be easily investigated.
Scammed by CTL Markets? – Tell Us Your Story
If you have complaints about this or any other broker that has violated any terms and conditions, please don’t waste time – contact our experts, and they will help you get your money back. Our managers will provide you with assistance and support at all stages of the fight against thieves – they’ll help you in collecting evidence and filing a claim.
But What Is A Chargeback?
Chargeback is a refund method. Experienced lawyers and cybersecurity experts will help you collect winning proofs and achieve a quick return to financial independence. In contrast to the issue’s solution through the initiation of a lawsuit, a chargeback is carried out through the bank and significantly reduces the process of restoring justice.
What Is CTL Markets?
This is a regulated organization that is most likely part of a “conglomerate” of fraudulent companies.
Is CTL Markets A Scam Broker?
Definitely, yes. According to our research, dozens of consumers were affected by fraudulent actions of the broker.
Is CTL Markets Regulated?
No, CTLMarkets is an unregulated company that is trying to convince people of its reliability with fake data.