Why Choose Opteck?
- Recommended for New Traders
- Extensive Education Centre
- Highly Capable Support Services
CentralSpot Trading LTD launched Opteck in 2011. CentralSpot Trading Ltd is a financial investment group with offices in Belize and Cyprus. They are not a regulated broker at this time, but they are well funded, and we have no reason to advise caution to traders. In fact, we are told that Opteck are in the final stages of regulation at this time.
Since its launch, Opteck has gathered a loyal following of traders from across the globe. The online platform is highly capable, but we believe this loyal audience exists largely due to Opteck’s focus on education and desire to inform its traders on best practices and strategies in Options trading. In fact, we strongly advise new traders to fully utilize this brokers highly experienced team of account managers, and their extensive ‘Trading Academy’.
As an unregulated broker, Opteck is capable of accepting binary options traders from almost every country in the world. The only exceptions being U.S. and UK traders (please see our U.S. page or UK page for alternative brokers). Traders from Canada, Australia, Saudi Arabia, Singapore, South Africa, Russia, Brazil and all other countries are welcomed.
Trading Platform and Features
Opteck is powered by the TraderSoft binary options platform. Tradersoft is a relatively new player to the binary options software sector, but that does not make them any less credible. The platform provides a seamless trading experience and is based 100% online. Traders don’t need to download or install anything, just point your web browser to opteck.com and begin trading, in real time, within seconds.
Traders that prefer to trade via mobile devices are well catered for with the Opteck iOS and Android apps. Unlike some trading applications, where traders don’t really have full access or control over the trading platform, Opteck’s apps allow trading with the exact same assets and trade instruments that are available on the web version.
Opteck enables its traders to invest with the four key instruments. These are, the High/Low, Range, One Touch and Quick Options. One downside to this broker is that the range of assets on offer is limited, but the most popular currency pairs, and assets such as, Apple, Google and Oil are available. Opteck is perfect for newer or less-experienced traders. Their platform is clean and intuitive. The limited asset list hints more at a ‘de-cluttering’ of less popular assets than anything else.
Trading Accounts and Payouts
Opteck offers returns of up to 81% when trading using the High/Low and Quick Option (Short Term Trading) instruments. The high yield payouts can go from 100% to as high as 400%. These are typically only attainable via the Range and One Touch options, which are to some extent a little riskier than the standard options.
As you’d expect from a broker that has a focus on new traders and education, Opteck offers a demo account to all traders. Essentially, the demo account is free of risk, and demonstrates what it will be like to trade online. Gaining access to the demo account hinges on the first deposit made, and so every new Opteck client that opens a Bronze account or above is eligible for a demo account. If you’d like to claim your demo account, please ensure that you speak with the Opteck support team when making your initial deposit.
Once you’re ready to open a real-money trading account, you will be presented with six different account types to choose from. This amount of choice may seem daunting at first, but when we spoke with an Opteck support representative, we were advised that our choice of account type essentially only depends on two factors; (1) The time we’re willing to invest and (2) The profits we’re interested in generating.
Please see below for an overview of the three most popular Opteck accounts:
Green Account – Depositing between $250 and $499 will secure you the ‘Green Account’. This offers traders a 25% welcome bonus and access to some of Opteck’s educational resources, including an eBook and 22 video tutorials.
*Silver Account* – Considered to be the “Best Value” account type, and is the account we recommend. The Silver Account requires you to deposit between $1,000 and $4,999. You will then qualify for their 45% welcome bonus, introduction session with a senior account manager, 10 to 20 daily trading signals, €10,000 demo account and a number of other perks and benefits.
Platinum Account – The Platinum account requires a deposit of between $10,000 and $24,000. The account benefits include an incredible 85% bonus, an introduction and strategy session with an executive account manager, a €25,000 Demo account, private sessions with a senior analyst, access to 3 webinars on Market Liquidity, Trading Psychology and Chart Analysis, and a 1% extra payout on all trades.
NB: Bonuses turnover varies between 35-50 times the awarded bonus’ value. Bonus funds and real money are kept separate, therefore traders may withdraw their profits at any time without losing their bonus.
Opteck offers a wide range of deposit and withdrawal options. These include bank wire, credit cards, Webmoney, cashU, and Western Union. All banking is secured with encrypted technology (SSL) and we’ve been assured that they have a number of in-house safety protocols in place to protect both your privacy and bank details.
Deposit – Deposits are accepted in the following currencies: USD, EUR, GBP, JPY, AUD, CAD, RUB and South African Rand, however, trading accounts are only offered in USD, EUR, GBP and JPY. Most payment methods will fund your acount instantly. Western Union can take up to one business day.
Withdrawal – The minimum withdrawal limit is $50. The process of withdrawing funds require three very short steps. Withdrawal requests are then processed and approved within 3-4 business days. The charges are capped at a 3.5% service fee, however, Platinum, Black and VIP accounts members are granted their first withdrawal free of charge.
The Opteck team offers traders the support they need in two specific ways: Customer Support and Trader Education.
Customer Support – The goal of Opteck’s customer support team is to provide you with instant and meaningful answers. To do so, the support team is attainable via email, LiveChat and their Callback service. We found that the various support representatives were extremely effective and responded quickly to our enquiries.
Education – As mentioned previously, Opteck is fantastic for new traders due to their extensive educational resources. The goal of Opteck education is to teach inexperienced traders how to invest wisely. You’ll find the following tools and resources in their ‘Trading Academy’: webinars, private lessons, eBooks, 22 video tutorials, access to a demo account, articles on trading strategies, analysis and tips for successful trading. There is even an opportunity to have private lessons with an account manager to sharpen your trading skills.
In our view, the Opteck Education Center is undoubtedly the highlight of this trading platform. Especially designed for novice traders, the center rafts its resources into one big educational package, which guides traders from day one and until they no longer need it – a real treasure for new traders.
Why Trade at Opteck?
Novice traders stand a much greater chance of starting and developing their trading career at Opteck. The education center and the education package in particular, provide every trader with the right set of tools and knowledge to further sustain a profitable trading career.
Subsequently to their appreciation of the education concept, the promotional packages offered by Opteck’s marketing team are very rewarding. New and existing clients stand the chance of winning fine products from the likes of Apple and Samsung. Opteck also run some fantastic competitions with cash prizes of up to a highly generous $10,000.
In summary, Opteck delivers its traders with an excellent bundle of products and services. We marked them as three stars due to their smaller list of assets, their inability to accept U.S. or UK traders and the lack of regulation. However, Opteck obliged in every term that we required of them and we are pleased to give them the “TradersAsset Approved Broker” seal of approval and recommend them highly to our less-experienced binary options traders.