Citadel has been flagged by Bank of Lithuania for "Unauthorised". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I have been trying to close my account with Citadel for weeks now and they keep giving me the runaround. First it was a form to fill out, then identity verification again, then a mandatory phone call that never gets scheduled. They make leaving impossible.
Pros: Dedicated account manager|Portfolio tracking tools|Segregated accounts
Cons: None so far
Citadel advertises low fees but once you dig into the fine print, there are numerous charges that add up quickly. Inactivity fees, withdrawal fees, currency conversion fees - it all eats into your returns. I wish I had read the terms more carefully.
Pros: Multi-device support|Intuitive for beginners|Tax reports included
Cons: No dark mode on mobile
I looked into Citadel and found they appear in the regulatory warnings database. Bank of Lithuania has issued a notice about this firm. Whether this is a misunderstanding or a serious concern, the fact remains that proper due diligence is essential. Always verify the regulatory status of any company before investing your hard-earned money.
Cons: Listed in IOSCO I-SCAN|May not be authorized in your jurisdiction
After seeing ads for Citadel online, I investigated. The company is listed in the IOSCO I-SCAN warnings database and has been flagged by Bank of Lithuania. Their website looks professional but that means nothing - many scam operations invest heavily in appearance. Always check the regulatory warnings before investing.
Cons: Unauthorized firm|Found in IOSCO warnings database
I gave Citadel a fair chance. After since early this year of usage, I can say with confidence that there are far better options available. The interface is clunky, the fees are higher than competitors, and the customer support team seems overwhelmed or understaffed.
Pros: Multi-currency support|Wide product range
Cons: No dark mode on mobile
I am in a dispute with Citadel over a trade that was clearly erroneous. The price shown was wrong, I closed at a profit, and they reversed the trade and took the money back. They said it was a system error. So I lose and they keep? Unacceptable.
Pros: Portfolio tracking tools|Fast execution|Regular updates
Cons: Limited cryptocurrency options|Charting tools need more indicators
Tried to withdraw my funds from Citadel and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Cons: Cannot withdraw funds|Not regulated|Pressure tactics
Do not believe the bonus offer from Citadel. The turnover requirement is designed so you can never withdraw. I learned the hard way. I deposited through a forum discussion and the bonus terms were buried in pages of small print. My fault for not reading but their design is predatory.
Pros: Transparent fees|Clean UI
Cons: Cannot customize dashboard fully
The platform itself is okay, but the customer service at Citadel is truly awful. I waited weeks for a response to a simple inquiry. When they did respond, it felt like a generic template that did not address my specific issue at all.
Pros: Two-factor authentication|Segregated accounts|Dedicated account manager
Cons: Could offer more webinars|Account statements could be more detailed
My withdrawal from Citadel was rejected three times for vague reasons. Each time they asked for more documents. When I finally provided everything, they said my account was under review. for about five months of being strung along.
Pros: Competitive fees|High security standards|Dedicated account manager
Cons: Website design could be more modern|Some tools only available on higher tiers