Licensed under the Cyprus Securities and Exchange Commission, Opteck has been offering binary options traders of all experience levels brokerage services since 2011. The company, a subsidiary of CST Financial Services, is also regulated under the requirements of the International Financial Services Commission, making it a thoroughly reliable option for traders needing a trustworthy broker. Opteck specializes in providing the support, advice, and experience that new traders need to become seasoned binary options traders. This review will explore the platform, customer service, and bonuses offered by Opteck in order to help traders determine if it will fit their brokerage needs.
Opteck’s trading platform was designed from its very earliest stages to be user friendly and easy to operate. It is entirely browser-based, meaning that no software must be downloaded in order to execute trades through Opteck. Like most binary brokers, Opteck offers stock, commodities, indices, and Forex currency pairs as available trading assets. These assets can be traded as traditional binary options, or as one touch options, in which the trader receives a payout if the value of the asset reaches the designated price point once before the expiry time. Opteck also offers what it refers to as Quick Options, which are very similar to turbo binary options. These options have short expiry times, ranging from 30 seconds to one hour, and allow traders to execute more trades in a short time frame for greater profit potential.
When trading through Opteck, the minimum required trade is £25, with trades offering a potential return of between 85 and 100% profit. This low trade minimum and high return rate make Opteck a good choice for novice traders who do not want to risk an unreasonably large capital investment in the binary options market. By executing several small trades with such high return rates, new traders have the opportunity to learn the ins and outs of binary options trading while still having the potential to make a good profit. If trades are executed unsuccessfully, however, traders do not lose the entirety of their investment. 15% of the principal investment is credited back to the trader’s account when options finish out of the money.
Customer support is where Opteck truly stands apart from the crowd. Unlike many binary options brokers that just offer basic customer support, technical support and a complaint department, Opteck’s customer service offers nearly anything a binary options trader could need. Separate departments exist for such topics as asset analysis and risk management, allowing traders to find exactly what they need when they need it. Trained professionals are available for help, support, and even trading consultation at any time via email. In addition, Opteck offers phone support in 19 different countries.
Besides live customer support, Opteck also provides traders with a variety of learning tools that are intended to equip them to trade successfully. Platform tutorials, analysis primers, and even a full binary option academy are made available to help traders learn about binary options. For traders who want to learn in a real life trading situation, a demo Opteck account is also available. This account lets traders execute practice trades based on real time market data without any real money being involved, making it a risk free way to learn how to trade.
Deposits and Withdrawals
Deposits and withdrawals to and from an Opteck trading account can be made via credit or debit card, bank transfer, or Skrill electronic transfer. A minimum initial deposit of £250 is required to open an account. Withdrawals made from Opteck have a required minimum of £50, with a £100 requirement for withdrawals made through bank transfers. As with all binary options brokers, Opteck requires verification of identity before an initial withdrawal may be made.
Opteck offers multiple bonuses to traders who sign up to use it as a brokerage service. The first is a welcome bonus that, depending on the size of a trader’s initial deposit, will add 25-100% of that deposit amount to the trading account. Also offered is a referral program, whereby traders who refer friends or family members to Opteck can gain a bonus equal to 5% of the new trader’s initial deposit. This referral program extends to traders executed by the referred trader, crediting 0.05% of that trader’s profit to the referrer. A second tier of this same bonus program credits 0.025% of the profits of traders referred by a referred trader to the original referrer.
Overall, Opteck is an excellent platform, particularly for novice traders. More experienced traders may prefer a platform with more assets to choose from, but all of the major assets are represented, and a shorter asset list makes trading a bit less complex. This one shortcoming is made up for by a very easy to use platform, high return rates, a low trade minimum, great customer service, and a very generous bonus program. On the whole, Opteck impresses in almost every category, and is well worth consideration as a brokerage service for any new or experience binary options trader.