Note: CTE Capital's official website: https://cte-cap.com/ is currently inaccessible normally.
CTE Capital Information
CTE Capital is a new player in the financial industry who was founded in Jun, 2023. The company primarily targets clients in the countries of the United Kingdom, Norway, Portugal, and Singapore. Its products offering include forex, CFDs and cryptocurrencies. There are two live accounts with a minimum deposit requirement of $250.
Traders should be noted that the company currently operates without valid regulation from any financial authorities, which is a red flag about its reliability.
Is CTE Capital Legit?
The broker operates without any valid supervision from any regulatory authorities. It raises a question about its legitimacy and credibility because regulated brokers usually adhere to strict industry standards to protect customer funds.
Downsides of CTE Capital
Unavailable website: CTE Capital's website cannot be opened currently, preventing traders to know about its background and offered trading conditions.
Regulatory concerns: The company operations without any regulations, meanig that it does not comply to rules from any regulatory authorities. This heightens trading risks with them.
High minimum deposit: Though the company offers 2 live account types, its minimum deposit from $250 in Standard Account is still relatively high comparing to top brokers, making it less cost-effective.
Limited customer support: The company can only be accessed via email, the limited customer support channels of which stop traders from connecting with the company, even when they need professional support.
Market Instruments
As a forex brokerage, CTE Capital offers several common investment products to its clients- forex, CFDs and cryptocurrencies
Forex- provides opportunities for traders to profit from fluctuations in the values of different currency pairs. The major pairs are EURUSD, USDJPY, USDAUD etc.
CFDs (Contracts for Difference) - financial derivatives that allow traders to speculate on the price movements of underlying assets while there is no need to own them. Profits are come from the difference between the opening and closing prices.
Cryptocurrency - Digital or virtual form of currency that uses cryptography for secure transactions. Popular coins like BTC, ETH, LTC are the most traded in the market.
Accounts
There are two live accounts of CTE Capital: the Classic account and Raw account.
Minimum deposit is $250 for Classic account, which is relatively high comparing to reputable brokers who usually start from an affordable $10.
Maximum leverage for both accounts is 1:200. Such high leverage enables traders to control larger positions with small initial capital. But always use leverage prudently since if amplies losses and gains alike.
Other information about trading conditions such as spread, commission are not readily available.
Trading Platform
CTE Capital offers a basic web-based trading platform with limited functions. The brief interface and limited trading tools might be easy for beginners to navigate, but advanced traders may find the platform short of necessary support tools and analysis for better trading decidion.
Deposit and Withdrawal
You can fund your accounts with CTE Capital by credit/debit cards (MasterCard, VISA), wire transfers and E-wallets. The broker claims to cover all handling fees for card/E-wallet payments and deposit fees for wire transfers.
And for card deposits, you can apply for a chargeback at the issuing bank within 540 days and reverse transactions in case your transaction is not yet completed. This appears to be beneficial for traders, but people are not optimistic for the fulfillment of the policy from the broker.
Customer Support
So far CTE Capital can only be connected via email at support@cte-cap.com, which is totally not enough to quickly response to customers' requests and inquiries.
Conclusion
To sum up, CTE Capital is new player in the financial industry and offers financial trading services in forex, CFDs and cryptos to its clients. However, the company does not maintain accessible website for investors to learn about their background and trading conditions. Furthermore, the absence of regulation and limited customer support channels position it as an unreliable and untrustworthy broker that should be kept away from prudent customer.
