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Is Opteck a scam? Well, read this first to find out. In this review we’re going to look at official regulation, trader opinions, demo account, trading platform, bonus offers, withdrawal options and many other aspects to fully check the broker and its performance.
Being around since 2011 now, Opteck has created a very stable and reliable trading platform that is very intuitive and doesn’t require previous experience to quickly learn it. If that’s an issue, there’s a live webinar where traders can learn the basics.
Regulated. Opteck market activies are being regulated by multiple third party institutions: Cysec, IFSC and MiFiD. Please note: when choosing a broker, always make sure that it’s regulated.
3 Trades on us. This means that broker is going to cover the costs of your first 3 trades in case they are unsuccessful (up to €650).
Stability and experience. Traders are usually seeking for a reliable partner before investing in the platform. Opteck has been around since 2011 and has developed a very stable and easy to use trading platform.
Variety. Recently Opteck added CFD trading to the platform so now traders can trade CFDs as well as binary options without opening a separate account.
Large list of assets. Comparing to similar brokers, traders are able to choose from a great variety of assets.
Demo account. Before investing real money, traders can select a free demo account and try the platform without risking anything.
High payouts. For standard binaries traders can receive up to 89% profit from a successful deal.
Most popular expiry times. Trade expiry times starting from very quick (30 seconds) to long deals (Up to a month).
Mobile trading available. If you have an account with Opteck you can also trade on mobile device. Both platforms are supported: iOS and Android. Broker application is being nominated as The World’s #1 Trading App.
Education materials. If you’re new to trading, education materials may come handy. On the website you can find eBooks, webinars, video tutorials, weekly sessions with a Senior analyst and more.
Profit clearance fee. Broker holds back a small fee from successful trades. Fees are set as follows:
- €250 or less = €1.50
- €251 – €500 = €2.00
- €501 – €1,000 = €3.00
- €1,001 – €2,500 = €4.00
- €2,501 or more = €5.00
Account maintenance fee. In order to provide traders with a great service, Opteck charges a monthly account maintenance fee €7.50 which is going to be deducted from your account after the 1st day of the month.
Restricted countries. Traders from the following countries are not accepted: Algeria, Botswana, Canada, Cuba, Iran, Islamic Republic of Iraq, Israel, Korea, Democratic People’s Republic of Libya, Morocco, Nigeria, Palestinian Territory, Occupied Sudan, Syrian Arab Republic (Syria), Tunisia, Turkey, United States of America, Virgin Islands, US and Yemen.
High minimum deposit. When choosing a broker, minimum deposit is one of the things you should look at. If you don’t feel comfortable with a minimum deposit of €250 then you’ll need to look for another option because that’s required to open a real trading account with Opteck.
The platform usage is very simple and intuitive. It’s filled with various features and comparing to other brokers Opteck has a great advantage that they’ve integrated a CFD trading as well. It’s getting more popular today and traders have more options to choose from in the same platform without opening an additional account.
Selection of assets is very similar to other leading brokers so you won’t feel that something’s missing when looking for options in which asset to invest.
Downside of the platform is that returns from quick options are not that high, however, returns from standard High/Low, Range and One Touch options are very similar to other brokers. We haven’t experienced any issues with the platform and based on our experience it seems to be a reliable platform for trading binary options.
Trading Platform and Option Types
As already mentioned above, the platform has two larger sections: Binary trading and CFD (Contract for difference) trading. It’s very convenient because traders can easily switch between the two.
Binary trading types
Currently the most popular binary option trading types are offered on the platform: Quick Options from as short as 60 seconds per deal, standard High/Low options, Range and One Touch options.
On the platform traders are able to trade stock, currency pairs, indices and commodities.
To get in the market at the right time, Opteck has developed a useful feature called Price Alerts. It notifies traders about great opportunities on the market.
Opteck Account Types
Demo – if you’d like to try the platform first, there’s an option to open a demo account. Comparing to other brokers, there’s no need to deposit anything and you’ll be able to fully test it before making your final decision. Demo accounts are usually given with $10,000 trading balance so you’ll have a plenty of money to play around.
Basic – even though this is the simplest account type on the platform it comes with great features. The minimum amount required is set to $250 but in addition traders receive a welcome bonus as well as get access to Price alerts. The platform is going to notify you about opportunities in the market based on your price criteria.
Bronze – to get the account you’ll be required to deposit at least $1,000 and in addition to Basic account, Bronze account holders receive an intro session with an expert.
Silver, Gold, Platinum and Black – starting from Silver account, account holders receive additional payout percentage on each trade. The better the account the better return. Starting from Gold account traders also receive a private session with a strategic analyst to develop a profitable strategy suitable for your needs. Each account type receives a welcome bonus and it goes up to 100% from your initial deposit.
How to Get Opteck Demo Account?
Platform users can open a Demo account without making a deposit. The account is free and you’ll have a chance to play around with $10,000 virtual money.
The platform is available in the following languages:
Opteck mobile application has been nominated as The World’s #1 Trading App. Make sure you download it if you decide to trade with the broker. The Application can be downloaded here.
Is Opteck a scam?
On Binary365 we always go through multiple stages to check is broker a potential scammer. Based on multiple regulations and overall experience with the broker we believe that it is reliable and safe to use for binary options trading.
Our conclusion is also based on the fact that Centralspot Trading Ltd. (Legal name of the brand Opteck) is regulated by the Cyprus Securities and Exchange Commission (“CySEC”), under license #238/14 and is governed by the European MiFID regulations.
First appeared online on the Web
Based on the Internet archive information, the broker has started to offer services in 2011 and since then hasn’t changed the brand or name. It is a sign of stability and trust.
Withdrawals from the account are charged with a small fee. The broker explains this as a processing fee required to transfer the amount to your account. Multiple options are available starting with a Credit Card, Wire transfer and ending with various online wallets. Depending on a method you choose, fees may change.
Opteck Signals or Trading Alerts
In order to get the best price for an asset you’re willing to trade, you can setup a Price Alert that sends you a notification once the asset has reached your desired price. It’s very handy if you have a limited time for trading during a day but you still don’t want to miss great opportunities in the market.
Opteck Real Trade Example