Opteck is a brokerage company that first started dealing with binary options, but switched to Forex after a while. In the last couple of years, this regulated broker has become extremely popular among traders. Since they have their offices in Bahrain, Colombia, Russian Federation, Mexico, Panama, Malaysia, Chile, Peru and New Zealand, we can say that they literary have clients from all over the world. Since they have such a good reputation among traders, we decided to conduct some tests concerning the company’s offer in order to see if they’re really that good. We tested them out and wrote this Opteck review, a comprehensive article in which you can find out everything about the company! Keep reading!
Opteck Review | The login procedure
As you already know, in order to trade, you have to have an account. To open an account here you first have to log in, and we’re happy to say that with Opteck this definitely shouldn’t be a problem. Account creation is quite simple, so you won’t lose more than a minute or two.
In the first step of the login procedure, you’ll be asked to write down some of your very basic data: your name, email address, the country you currently live in and your phone number. Subsequently, you’ll have to choose the currency you would like to use in trading. We would like to warn you that, once chosen, currency cannot be changed, so choose wisely. Apart from that, you’ll have to choose one of the account types Opteck offers to its clients. We’ll talk about that more in the next paragraph of our extensive Opteck review, so stay with us!
Opteck Review | Account Types
Almost every brokerage company has a few account types in its offer, but with Opteck you really have a lot of options. More precisely, there are six Opteck account types to choose from: Basic, Bronze, Silver, Gold, Platinum and Black.
The first one is designed for newcomers in the trading industry. It comes with daily market reviews and price alerts that’ll keep you informed about every important market development and you can have it for only $250. The Bronze account requires a deposit of $1,000. It is also good for beginners, but you get an intro session with the broker’s expert as an extra feature. Than we have the Silver account which requires an initial deposit of $2,500 and is the most popular account in the broker’s offer at the moment.
For more experienced traders Opteck has three special accounts: Gold, Platinum and Black. If you would like to become a holder of the Gold account, you’ll have to deposit a minimum of $10,000. For that money you’ll get an opportunity to trade CFD’s (Contract for Difference) with fixed spreads and a private session with a strategic analyst. Platinum account ($25,000) and Black account ($100,000) are made for full-time trading professionals. Many special privileges come with them, such as exclusive position access.
If you’re a Muslim and would like to trade in accordance with the principles of your faith, there’s a special type of account for you: Opteck Islamic account. It has no fees, no interest and no overnight positions.
Obviously, if you want to access all of this, you have to deposit some money. The following part of our Opteck review will check out how deposits and withdrawals work. Keep reading!
Opteck Review | Deposit and Withdrawal
So, money transfers. What do you need to know about them? Just like the login procedure, these transactions are also very simple and can be done in just a couple of clicks.
Let’s start with Opteck deposit. In order to fund your account, you’ll first have to log into it. At the top of the screen, you’ll find the green deposit link. After that, you’ll have to choose the payment method you would like to use in your transactions. You can use credit/debit cards, e-money services or bank wire transfers. When it comes to credit cards, you can choose between Visa and MasterCard, but when it comes to e-money services Neteller, Skrill, Yandex many more are at your disposal. If you choose to deposit via bank wire, you’ll have to provide your bank with the company’s bank account details. When the transaction is approved, you’ll receive a detailed invoice via email. The transaction via bank wire can take 3-5 business days. Let’s add that Opteck minimum deposit is set to $250 (the amount needed for a Basic account) and that apart from the USD you can also use GBP and EUR.
No Opteck review can be complete without examining the Opteck withdrawal process, which is also very simple. You’ll have to log in, click the trading room button, click the Withdraw link and enter the amount you wish to withdraw. Opteck minimum withdrawal is $100 for bank wire and $50 for any other payment method, which is quite low when compared to other brokers in the industry. Withdrawals are processed within 3-4 business days. All of the transactions are safe and encrypted with the SSL protocol, but you’ll also have to verify your account, meaning you’ll have to send a scan of your proof of identity, proof of residence and the front and the back side of the credit card (if you use credit/debit cards). Opteck withdrawal fee also must be taken into consideration because it amounts to 3.5%.
Opteck Review | Trading Platforms
We’ve come to probably the most interesting part of our Opteck review: the trading platforms. Everyone knows that this is the most important element of every trading experience. If you have a bad trading platform, the chances of winning go down. If you have a decent trading platform, you have bigger chances. We’re happy to say that Opteck trading platform is more than decent.
It wouldn’t be an exaggeration to say that this really is a superb platform. The very first thing we noticed when we started trading here is its simple design. But not simple in a bad way – the features are organized very logically so you can notice with ease everything you can use in trading. Apart from that, Opteck trading platform has another element that’s important for traders – a very high speed of execution. We cannot emphasize enough how important this is, especially if you’re trading in short terms. When the market is in constant motion, the speed with which a platform executes trade can really save the day.
Opteck platform allows you to access 4 markets: forex, stocks, commodities and indices, and the selection of 1,000 tradable assets guarantees that you’ll definitely find something for yourself. In addition, it has all most important tools and charts and also provides its users with price alerts. You can also trade via Opteck mobile app which can be downloaded from the App Store and Google Play for free. We’ve tested that too and it works absolutely perfectly! It has all the features of the desktop platform, but you can use it anytime you want. If you’re into more dynamic type of trading, Opteck app is the perfect option for you. But before you start investing, you can test everything out for free. How? Find out in the next part of this Opteck review!
Opteck Review | Demo Account
Yes, there is a way to try out all the perks of this platform for free! You don’t even have to fund your account to do that – you can simply open an Opteck demo account and start practicing.
Opteck demo provides you with the best way to adapt to a new trading environment and we sincerely recommend you try it, especially if you’re a newcomer in the trading business. This useful feature allows you to trade in a risk-free environment, but everything else is just like using a real account. In other words, Optect demo account is a 100% real simulation of the market you decide to participate in. Therefore, it is a great way to learn, test your knowledge and even develop new trading strategies. Like we said, no deposit is required, so just fill out a short form and you’ll be on your way. But first finish this Opteck review because we have much more interesting features to analyze.
Opteck Review | Margin and Leverage
In this part of our Opteck review, we’re going to say a couple of words about the trading numbers this broker offers. More precisely, we’re going to talk about the terms ‘margin’ and ‘leverage’.
Let’s start with the leverage. Opteck leverage allows you to control more money than you actually have in your account. Not just more money – it’s much more money. More specifically, when it comes to Opteck, your leverage can go up to 200:1. In other words, you can control 200 times more money than you could control without the margin. For example, with only $500 you can control $100000! This makes Opteck a very generous company, so you should definitely take this information into consideration when choosing your broker.
Another term we need to mention in this part of the guide, Opteck margin, is closely related to the leverage. If you open a leveraged position, you will be required to keep a certain amount of funds as your reserve money. This money has to cover your leveraged trade and it depends on the side of your opened positions and their performance.
More detailed explanation of these terms and some more precise numbers can be found in the Opteck education center, which will also be the topic of our next paragraph! Don’t go away!
Opteck Review | Education
In general, trading is quite simple. You’re just following the market’s behavior and trying to predict what’ll happen next. Although the basic rules are easy to understand, if you want to become a professional and make some serious money trading, you should definitely spend some time learning and practicing. Opening an Opteck demo account is definitely good idea, but Opteck education has more options for you to enjoy.
The Education Center consists of four part: video courses, e-books, glossary and FAQ. There are three types of video courses: “Beginners” is made to explain the very basics of trading, “Advanced” is designed to upgrade your trading skills with lectures such as Passive Trading Rule and Market Analysis Types, while “Professional” is even more specific, meaning that it provides you with information on different types of charts and advanced analytical methods. As for the e-books, by reading them you can find out all you need to know about CFD trading. Glossary will also be very useful for beginners because there you’ll find the definition of every common trading term. Simply, you don’t have to worry if you lack experience: with Opteck you can learn everything you need to know to become a successful trader! There is no doubt that you can rely on these people to provide you with an excellent trading experience and we have more proof for that in the next part of our Opteck review. Read on!
Opteck Review | Regulation
One of the most important things when it comes to online trading is the broker’s security. A broker may have excellent terms, great offer of accounts and a modern trading platform, but if it’s not completely safe, you probably shouldn’t do the business with them. There are many brokers on the market today and, unfortunately, some of them have a bad approach to all of this, meaning they’ll try to scam their clients and take their money. However, they are a minority and we’re once again happy to say that Opteck is completely safe and that nothing can happen to you when you’re trading here.
You can read more about that in our Opteck Scam Test, but we’d like to emphasize here that this is a regulated broker. They’re regulated by CySEC – Cyprus Securities and Exchange Commission. That means that they have to follow the strict MiFID (Markets in Financial Instruments Directive) rules. This guarantees that nothing can happen to the funds you’re trading with. As we already mentioned earlier in this Opteck review, every transaction is encrypted with Secure Sockets Layer system, which is an additional proof of the broker’s safety.
As for the data, you don’t have to worry about it either. The company uses the personal information of its clients only to provide quality service and security. Every piece of information is treated as confidential and won’t be shared with any third party. All in all, you can just relax and trade – there’s no way an Opteck fraud will happen to you. With that, we can bring this Opteck review to a close – the only thing left to do is to give a short summary.
Opteck Review | Conclusion
At the end of this detailed Opteck review, we would like to repeat one more time all relevant things we have discovered about this broker. First of all, it’s very simple to become their client because the login procedure can be completed in just a few seconds. The minimum amount that you can deposit with Opteck is $250, which is quite fair, and with that amount, you can become a holder of the Basic account. Also, you can choose from a wide variety of payment methods for depositing and withdrawing money. The broker also offers a demo account, a great (and free) way to familiarize yourself with the platform. The platform is well designed and works without the slightest problem, so you’ll adapt to this trading environment in no time. In addition, the trading options and analytical tools will definitely help you in your predictions, but if you need to learn more about them you can always visit the broker’s excellent Educational Center. With features like this, you can count on great service every time, and the broker even has a CySEC license to prove that.
All in all, we can conclude that Opteck has everything a great broker needs. Open an account with them if you want a reliable partner – you definitely won’t regret that decision.