Skip to Content

Opteck - Broker Review and Trader Feedback

regulation
Rgulated by CySEC
(license 238/14)
region
Accepts traders from
United Kingdom
rating
4.5
/ 5
Rating: 5
Reviews: 0
bonus
Free educational materials
Register within 10:00 minutes and receive a gift
Founded in 2011, Opteck is known among the online trading community as one of the early binary options brokers. However, more recently in early 2017, Opteck has stopped offering binary options trading services completely. Instead, they have decided to switch over to offering their traders Contract for Differences (CFDs). The broker is based in Cyprus with their office located at Lophitis Business Centre, Office 102, 249, 28th October Street, Limassol. Their new exciting trading platform allows their clients to trade with a wide range of currency pairs and CFDs. Full review
Trading conditions
Tradable assets:
Option profitability:
Minimum deposit:
Minimum trade amount:
148
up to %
$250
$25
Demo account:
Online registration:
Call support:
Chat with support:
yes
yes
+7-499-603-47614
yes
Tradable assets:
148
Option profitability:
up to %
Minimum deposit:
$250
Minimum trade amount:
$25
Demo account:
yes
Online registration:
yes
Call support:
+7-499-603-47614
Chat with support:
yes
Deposits and Withdrawals
b_visac_mastercardd_bankf_skrillg_neteller
Review of Opteck
Broker rating: 4.6 / 5

1. General Information

The Opteck trading platform is owned and managed by a Cyprus Investment Firm (CIF) called Centralspot Trading (Cyprus) Ltd. The holding company is authorized and regulated by the Cyprus Securities Exchange Commission (CySEC) under the CIF license #238/14.

Opteck is managed within strict regulatory confines, in accordance with the regulatory oversight administered by CySEC. As such, it is required to submit regular reports to CySEC to ensure that it is able to comply with the capital adequacy requirements at all times. In addition, it is also required to maintain segregated accounts for both its clients’ trading funds and its operational funds. Finally, as a regulated CIF under CySEC, Opteck is obligated to be a member of the Investor Compensation Fund. The Investor Compensation Fund protects each of Opteck trader’s deposits up to a maximum amount of 20,000 euros, in the event that Opteck suffers from insolvency issues.

As CySEC is a regulated broker, Opteck operates in compliance with the MiFID regulations passed by the European Parliament. Under the MiFID harmonized rules, Opteck is permitted to “passport” its CySEC authorization to other member states within the European Economic Area (EEA).

2. Advantages and Disadvantages

Regulated Broker: As a regulated broker under CySEC, Opteck operates within strict regulatory guidelines, thus ensuring their traders’ legal interests are protecte.

Multiple Choices of Trading Accounts: With 6 different types of trading accounts to choose from, each coming with its own trading conditions, there is a trading account to suit every category of trader.

Comprehensive Educational Center: The educational resources provided by Opteck are one of the most comprehensive among all the brokers in the industry. The educational academy comes with e-books, video training courses and webinars.

No Localized Support: The customer support services are not made available on a localized level. Instead, traders have to rely on an international telephone support number that can be costly to call.

No MetaTrader Trading Platform: Opteck uses a customized trading platform and does not support the popular MetaTrader 4 trading platform.

3. Trading Conditions

The trading conditions at Opteck are flexible and depend on the type of trading account that is held by the trader. Opteck has made it easy for beginner traders to open a trading account, by requiring a low minimum deposit requirement of just $250. For more experienced traders, they have the option of trading with a higher level trading account which will entitle them to trade CFDs at extremely competitive spreads. For example, the spreads for major currency pairs such as the EUR/USD, is as low as 0.00030 pips.

4. Underlying Assets

At Opteck, traders have the opportunity to trade in a wide range of financial instruments across the currency, stock, indices and commodities markets. In total, there are 148 different assets available in their asset index. These consist of 4 currency pairs, 91 global stocks, 7 types of commodities and 6 different market indices.

5. Trading Platform

The trading platform adopted by Opteck is a user-friendly trading platform that is both intuitive and customizable. It comes with advanced features such as:

Fully Built-in Charting Package - the charts support candlestick charts, popularity charts and line charts.

Fast Execution - all trades can be executed with just a single click of the mouse.

Advanced Reporting System - with a smart dashboard, a trader can monitor his transactions with ease.

Price Alerts - price feeds are in real-time enabling easier access to the markets at the ideal time.

Economic Calendar - this calendar lets traders keep a finger on the pulse of the markets. It keeps a trader updated with all the major events in the markets.

6. Mobile Trading

Opteck has designed their trading platform to be compatible with mobile devices. The Mobile Trader offers the same main features of the desktop platform, but is optimized for the mobile device screens. With the mobile trader, Opteck’s traders need not be deskbound, as they are able to monitor all the developments in the markets straight from the palm of their hands. In addition, the Mobile Trader allows traders who are on the move to execute trades from their smartphones. The Mobile Trader apps can be easily downloaded from Google Play Store or Apple’s App Store.

7. Demo Account

A demo account facility is also available at Opteck. In order to access the demo account, you must first register for a real account. We find this troublesome as the main purpose of a demo account is to let potential clients try out the trading platform first before deciding if they want to commit to a real account or not. Nevertheless, a demo account also serves as a practice platform whereby a trader can test out his trading strategies, in order to see how well they work before he decides to implement them in live trading.

8. Account Types

As for trading account types at Opteck, there are 6 different types of trading accounts available. They consist of:

Basic Account - This account type requires a starting deposit of $250. It provides with daily market review, education center, price alerts, PRO webinars and 24/6 support.

Bronze Account - This account type requires a starting deposit of $1000. It provides with daily market review, education center, price alerts, PRO webinars, 24/6 support and Junior account manager.

Silver Account - This account type requires a starting deposit of $2500. It provides with daily market review, education center, price alerts, PRO webinars, 24/6 support and Senior account manager.

Gold Account - This account type requires a starting deposit of $10,000. It provides with daily market review, education center, price alerts, PRO webinars, 24/6 support, personalized trading strategy and VIP account manager.

Platinum Account - This account type requires a starting deposit of $25,000. It provides with daily market review, education center, price alerts, PRO webinars, 24/6 support, 1-on-1 Trading trainer, personalized trading strategy, Exclusive position access and VIP account manager.

Black/VIP Account - For Exclusive VIP Clients only.

Islamic accounts are also available to traders upon request. The difference between an Islamic account and a normal account is the fact the Islamic accounts are swap free and are in compliance with Shariah principles regarding the prohibition of dealing with interest.

9. Opening an Account

To open a live trading account at Opteck, simply click the green “Open Account” button located at the top right hand corner of Opteck’s homepage. Fill up the registration form and then click the “Sign Up” button at the bottom of the form.

10. Funds Withdrawal

At Opteck, there is a wide selection of payment methods which traders can use to withdraw their money from their trading accounts. They consist of the following methods: Credit/Debit Cards - VISA, MasterCard, Maestro; eWallets - Skrill, Neteller; Bank Wire Transfer.

11. Trader Training

One of the major advantages which Opteck have over their competitors in the industry is the large selection of educational resources which they have provided their traders with. The educational resources are categorized into e-books, video courses and webinars. The video courses are grouped according to the trader’s trading experience, such as beginner level, advanced level and professional level. The advanced level courses cover topics such as Passive Trading, Aggressive Trading and Market Analysis. For the professional level course, the topics covered include advanced technical analysis, trading patterns, advanced trading strategies.

There are 2 e-books available for download, a forex trading guide and a CFD trading guide. Most of the materials provided are fairly comprehensive and are even useful for advanced and professional traders.

12. Should I Trade With Opteck?

As to the question whether you should trade with Opteck, the answer is a resounding yes. First of all, Opteck is a regulated broker under the CIF license number #238/14. This means that your legal rights are protected with the force of legislation. Another factor that weighs in favor of Opteck is their trading platform. Although the trading platform looks simple, it comes with a wide array of trading tools and is extremely user friendly. Finally, we have the comprehensive educational academy that traders at Opteck have access to. Especially for beginner traders, the educational academy is invaluable to them and goes a long way to help a trader build up his trading career. In short, Opteck comes highly recommended.

Reviews on Opteck

Comments about Opteck
( 0 )
User rating: 4.5 / 5

Leave a comment