If you’ve been searching for a brokerage to trade with online then you have most likely heard about Opteck or have seen one of their advertisements on the web. Just type the word “binary options” in Google and you will probably see this brand as one of the top results. But what really makes this broker different from the rest and do they really deserve one of the top spots in this highly profitable industry? Continue reading this review to know the answer.
Demo Account: Unlimited and free
You can practice your trading strategies without risking real money with the help of their free demo account. This is a great starting point especially if you’re new to binary options. You can make test trades as long as you want because it has no time limit.
Bonuses: Additional funds and many more
Their welcome bonuses range from 20% to 100% and this will be based on your account type. Aside from this you may also enjoy 1% to 3% extra payouts, free access to their daily market review, PRO webinars, price alerts, an intro session with one of their experts, strategic analyst private sessions and exclusive position access.
Platform: Customizable and intuitive
Their desktop platform is accessible on any web browser and takes only a few seconds to load so you can start trading right away. It comes with a charting package, an economic calendar, actual prices and a one-click trading feature which allows you to instantly set your positions under real market conditions. If you’re into trading CFDs then you’re in luck because they also offer them under 1 wallet which means you can switch to binary options to CFDs and vice-versa using the same account.
Mobile Trading: Supports smartphones and tablets
If you’re the type of trader who’s always on-the-go then you will be able to take advantage of Opteck’s mobile applications that can be installed on devices that are running on iOS and Android. This includes all the advanced features including the one-click trading so you can set your positions with just a tap.
Tradable Assets: A hundred choices
There are over 1,000 assets where can place your investments on from their binary options platform and this covers the major types including indices, commodities, stocks and currencies. They have all the hottest choices like EUR/USD, USD/JPY, Gold and Apple but if you want to explore other markets then you’ll be able to find them on their long list of assets.
Minimum Trade: $25 for every position
In line with most of the brokerages today, the minimum investment size that they allow for every Call or Put position is $25.
Payout Rate: Competitive returns
The return on a successful investment for regular options is up to 86% which is already a good rate. Gold, Platinum and Black account holders will be able to enjoy the extra payouts ranging from 1% to 3%.
This trading instrument is labelled as High/Low on the platform with a flexible choice of expiry times.
This option type is known as Quick Options.
Trading pairs is not offered by this brokerage.
The other special option type that they have is the Range or also known as Boundary.
Minimum Deposit: In line with the standard
The minimum initial deposit requirement is $250 and this already has a number of perks. If you want to enjoy bigger benefits then consider depositing a higher amount..
Deposit Methods: Multiple options
Depositing funds to the trading account can be done via major credit cards, bank transfers, Skrill (Moneybookers), Neteller, Alipay, AstroPay, YOB BankLink, ePay, EPS, Euteller, giropay, HalCash, iDEAL, InstaDebit, Bacontact, moneta.ru, MultiBanco, NeoSurf, paysafecard, PlusPay, QIWI Wallet, Safety Pay, Sofort, sporopay, teleingreso, Ticket Surf, TrustPay, UseMyBank, WebMoney and Yandex money.
Withdrawal Processing Time: 3 to 5 days to wait
They process withdrawal approvals within 3 to 5 business days and this is considered to be fast as a lot of brokerages today take around more than a week to accomplish the same task.
Channels: Diversity of options to communicate
There are plenty of ways to contact their customer service department. They have support channels via phone, fax, contact form, email and live chat.
Availability: 24 hours a day
They can be reached any time of the day because their lines are open 24 hours everyday.
Supported Languages: Not just English
They support various languages including English, Arabic, French, Italian, Russian, Polish, Spanish, German and Dutch.
Average User Rating: 9.1
Platform Design: Elegant and stylish
Both the desktop and mobile platforms have streamlined and stylish layouts which were able to fully use the entire screen making it very easy to see everything and access on the interface.
Support: Round-the-clock professional support
Their lines are open any time of the day so there’s no problem if you wish to contact them in the middle of the night because there is an agent that you could talk to if you have any concerns or issues that would need immediate attention.
Reputation: Transparent and regulated broker with offices around the globe
One of the primary factors that made this brokerage really credible is that they already have offices across many countries and that they have expanded their business to trading CFDs. The fact that they are licensed by the Cyprus Securities and Exchange Commission (CySEC) is also a good indication that they are transparent with their operations.
Editor’s Rating: 92
Opteck is a standout in the binary options market as it is able to deliver a highly sophisticated platform that is not only user-friendly but is also full of advanced and useful features such as the one-click trading, customizable analysis and technical tools and the inclusion of CFDs under 1 wallet. And with a first class support and an established credibility, you would be hard pressed to find a brokerage that offers this kind of trading package.