Citex Trading System has been flagged by Financial Conduct Authority for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: citextradingsystems.com.
KYC with Citex Trading System is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.
Pros: Social trading features|Stable platform|Intuitive for beginners
Cons: No phone support on weekends|Nothing significant
The hidden fees at Citex Trading System are the real scandal here. What they advertise and what they actually charge are two different things. By the time I realized how much I was paying in various fees and spreads, I had already lost a meaningful amount.
Pros: Fast deposits|Automated trading options|Customizable dashboard|Fast execution
Cons: Website design could be more modern|Spreads widen during volatile periods