Regulated by CySEC
Regulated by CySEC
About Opteck Option
Opteck Option is a binary options trader which was started in 2011 with an aim to simplify the binary options trading. The platform is owned by the Centralspot Trading Ltd and headquartered in Nicosia, Cyprus. This online trading platform is regulated by the Cyprus Securities and Exchange Commission under the license number 238/14. However, recently it doesn’t look they follow the commission’s guidelines as they call me to deposit money in their account, which is against the rules of the CySEC. We don’t know specifically that when they started doing these kind of things. The registration number of the Opteck Option is 325259.
The broker may have garnered a tremendous reputation as one of the most trustworthy brokers in the world, but the number of complaints against the platform has increased steadily in the past couple of years. Opteck Option is one of the oldest binary options companies in the world who is offering online trading services. The platform’s network has extended to more than 80 countries worldwide. However, they still don’t offer their trading services in the United States, Canada, and many other countries.
The broker’s platform has a very practical interface that demands some kind of information regarding binary options for full understanding. It looks like they have focused on the experienced traders rather than the beginners. They offer a demo as well as a real account for trading to the users. You only have to follow a single registration process and then fund your account for starting trading. The TraderSoft trading platform is used by the Opteck for CFD and forex trading. The traders will get access to 93 underlying assets from Commodities, Forex, Stocks, and Market Indices. Moreover, there are six different account types offered by the Opteck Option to the traders. The minimum amount to open an account is $250, which is much more as compared to the other brokers available in the market.
As we mentioned before, the Opteck Option complaints have increased over the years that is a reason to concern for many traders. The platform offers choice to the traders where they can either use the desktop trading system or they can go for the mobile trading apps available for both Android and iOS. The maximum profitability at the platform is just about 85% of the deposited amount.
There are many different types of trade options available on the platform and you can choose one as per your need. Whether it is a long time period trade or a short time period trade, you can select one from the below options. Have a look at all the platform’s options in detail:
- Quick Options
This option is made for the traders who want to have immediate returns on their investment. The minimum time to complete a trade is 30 seconds, whereas the maximum time from start to finish is 60 minutes.
- High/Low Options
This option is made for the traders who want to place a standard call or put the position of a selected asset within the market. It is popular as the most used option type among the binary options traders.
- One Touch Options
The platform also offers one-touch options that make it possible for traders to have the highest return on the investment, i.e. up to 100% on a single trade. You only need to check whether the price of an underlying asset will reach the predetermined level before its expiry time or not.
- Range Options
Similar to the one-touch options, you have to foresee a certain price and then select a range. The investment will only be profitable if the binary options enter the range within the option’s time frame.
In addition to a demo account, the platform offers six different types of accounts for the traders that are mentioned below:
1. Basic Plan
It is the cheapest plan offered by the platform for the traders that can be opened with a minimum deposit of $250.
- Regular analysis of market
- 24X6 customer support
- Free educational eBook
2. Bronze Plan
The minimum amount to open a bronze account on Opteck Option is $1,000. It offers all the features to the traders that are available in the basic plan. Other than that, it offers the following features:
- Free binary trading e-book
- Different videos about binary trading
- Introductory session with an expert trading manager
- Demo account with virtual money
3. Silver Account
It is the most popular type of account available on the platform that demands a minimum deposit of at least $ 2,500. All the benefits of Bronze account are available in a gold account. Have a look at the other unique features of the silver account:
- 10 to 20 trading signals on the daily basis.
- A webinar discussing market liquidity
- An assortment of video courses that talks regarding binary options trading.
4. Gold Account
In order to open a gold account, you have to make a minimum deposit of $ 10,000. The gold account has all the features that come with a silver account. Along with that, it has the following unique features:
- Approximately 20 to 30 trading signals daily
- Get 1% extra profits from every trade.
- A webinar that discusses the trading psychology
- Alerts related to the new market events
- Regular market analysis through email
5. Platinum Account
The platinum account is one of the costliest accounts that you will find on any online trading platform. You need to deposit at least $ 25,000 for opening this account. The extra top features that come with a platinum account are mentioned below:
- Approximately 30 to 40 trading signals daily
- Alerts related to the new market events
- Private discussion with a professional trading analyst
- Free hotline
6. Black Account
For opening a black account, you have to make a minimum deposit of at least $ 100,000 that is a pretty big amount. It has all the features that will be available in the platinum account. However, it has some extra feature that may excite you:
- Privileged access to the extra amount of financial assets, liquidity options, and expiration time.
- Get 2% extra profits from every trade.
- A direct hotline for personal assistance
- PRO webinars related to trading strategies
The account’s feature may look worthy, but you have to pay a very big amount of money to access them. It is almost impossible for an average trader.
Like every online trading platform, the Opteck Option offers bonuses to their clients for opening accounts with them. The bonuses depend on the type of account opened by the traders. The basic account holders get 20% bonus where the bonus increases to 30% with a bronze account.
The silver account holders get 40% bonus while it rises to 60% for gold account holders. As a Platinum account holder, you will get 80% welcoming bonus whereas the platform offers 100% bonus to the black account holders. Except for the black account, the bonus is quite less as compared to the amount you need to pay for opening an account.
According to the new rules of CySEC, the regulated brokers aren’t allowed to offer a bonus to their users. However, it looks like Optech is breaking the law.
One of the best features that a trader can get with opening an account with Opteck is the demo account. However, you need to at least open a Bronze level account for getting access to the demo account, unlike other brokers where one can have a demo account for free. This account will allow you to practice your strategies with the virtual money so that you can become skilled in online trading.
The platform offers a mobile app for both the Android and iOS users. The app has the exact platform that you can access to the website of the Opteck Option. However, there are several complaints from the users about the downtime and the interface of this broker’s mobile app.
There are lots of deposit methods available at the platform that include bank wire transfer, Skrill, credit or debit card, Neteller, AstroPay, Euteller, Neosurf, Halcash, PlusPay, Qiwi Wallet, and much more. Out of all, the credit card, Neteller, and Skrill are considered as the best methods by the majority of the traders because your money will be credited instantly by using these payment options.
Payment by bank wire transfer will take 3-5 days to show up in your account.
All the methods that are available for the deposit can be used for the withdrawal process. But, they transfer initial investment through the same method that you have chosen for deposit. You can’t change this on this platform, which is definitely a disadvantage. However, you can withdraw your profit by using any of the methods.
The minimum amount for withdrawal is $50. It increases to $100 if you are using wire transfers. There is no limit on maximum one can withdraw from their account. The traders need to pay a service fee of 3.5% for withdrawing their funds. If this percentage accounts for less than $30, then you have to pay a standard fee of $30. The maximum amount of withdrawal fee that can be charged for single withdrawal is This fee is a way higher as compared to the other brokers who offer this service for free.
The processing times for a withdrawal request is between 3-5 business days, that is too slow according to the present day technology.
There is a large selection of educational resources available on the platform that can help the beginners as well as professional traders. It consists of ebooks, video courses, and webinars. Along with that, the traders can have a private training session with a professional.
But, you need to have one of the platform’s top accounts to get access to all the educational resources available on the Opteck Option.
There are many different kinds of options available at the platform through which you can contact their customer care. You can contact them via call 24/6 or email them your issue or query. Additionally, there is a live chat option available on the platform where you can talk with one of their representatives. The best and fastest method to talk to their representatives is live chat.
The traders have to wait for a longer period of time when they call to their phone number. Moreover, they don’t respond to their email on time and at least a week for solving one issue. That is not a professional way of working that they need to improve.
Opteck is a genuine broker who is regulated by the CySEC. However, the number of complaints against them has increased that shows they don’t seriously care about their traders over the years. It is no doubt that they have a very friendly and intuitive interface that is easy to use even for starters. However, the high withdrawal fees and low profitability can be a reason for concern for the majority of traders. Why should you open an account by making deposits just to have lower profits and higher withdrawal fees?
Additionally, one can only have access to the demo account if they sign up at least for a bronze account. It truly sounds like that they are very curious about the money. We don’t suggest our readers access the services of the Opteck Option as there are many other brokers available in the market who offer better services with low fees to the traders, such as IQ Option, HighLow Option, etc.