Opteck is a South African based binary options broker that entered into the market in 2011. The binary options broker operates under a company called Centralspot Trading Ltd. It accepts traders in over 80 countries but it doesn’t accept traders from the USA. Opteck is CySEC regulated and its registration license number is 238/14. The average payout can reach as high as 85% for in-the-money trades. For out-of-money trades, Opteck offers a refund of up to 15% on selected assets.
Opteck offers a proprietary trading platform that is protected by a secure SSL. Several types of options are supported in the platform including 30 seconds, – 1 hour. You can place a new trade in one of the 3 currencies including USA, EUR and GBP.
The minimum investment amount is just $25, which is quite affordable for many traders. The maximum amount of funds you can invest for per trade is five thousand dollars. On the platform, you will find a list of more than 50 assets for you to choose from. Opteck also support a mobile platform apart from the regular web based proprietary platform.
Types of Trading Accounts
Opteck offers several types of trading accounts that include amazing bonuses for traders. There are 6 types of account including Green, Bronze, Silver, Gold, Platinum and Black accounts. Opteck’s most basic account, the Green account can be opened with just a deposit of $250.
The Green account offers a twenty five percent welcome bonus for traders. The Bronze Account is for traders who want to deposit in between $500 – $999. Bronze account holders includes a 35% welcome bonus as well as a demo account that has been preloaded with $5000 virtual money.
Silver account is suitable for traders who are interested in depositing in between $1000 – $4999. Silver account includes a 45% welcome bonus and a demo account with $10000 virtual money. If you are a Silver account holder, you will receive 10 – 20 trading signals by Signals XP every day.
Traders who plan to deposit in between $5,000 – $9,999 can sign up for a Gold account. Gold account offers features such as 65% welcome bonus, $15,000 demo account and 20 – 30 trading signals per day. Platinum account is for traders that want to invest in between $10,000 – $24,999.
Some of the benefits you will enjoy by signing up for the Platinum account are extra 1% payout, 85% welcome bonus, 30-40 trading signals per day, a demo account preloaded with $25,000, individual sessions with Senior Analyst and 3 illuminating webinars.
The best account, Black account, is for professional traders who are ready to invest more than $25,000. With a Black account, you will enjoy a lot of benefits including extra 2% payout, 100% welcome bonus, a demo account preloaded with $50,000, meeting with the Senior Analyst every week and 4 illuminating webinars.
Deposits and Withdrawals
Opteck accepts several types of payment methods for deposits and withdrawals including credit/debit card, WebMoney, CashU, bank wire, Skrill and Postepay. There is a minimum withdrawal requirement of $50 for credit card withdrawal. You must have at least $100 in your balance if you want to withdraw via bank wire transfer. They charge a 3.5% service fee when you perform a withdrawal but the service fee won’t exceed $3,500.
You get to choose the currency for your account during the registration but you must make sure to choose the right currency as you can’t change this setting afterwards. It is not necessary deposit money into your account in order to register for an account.
Fees and Commissions
Opteck charges several fees on your trading account including inactive account fee, profit clearance fee and maintenance fees. The inactive account fee is $10 if your account is inactive for 60 day. The profit clearance fee is charged on successful trades or trades that have been sold to reap a profit.
They also charge a $7.50 account maintenance fee at the last day of every month/ Of you start trading after the 1st of the month, the maintenance fee will be deducted accordingly so that you won’t be charged more.
Opteck offers customer support via several methods including email, telephone, and live chat. They use a different emails for each of their department such as technical support, risk management, billing department and complaints. They offer telephone support for 23 countries around the world including Bahrain, Denmark, Finland, Italy, Norway, New Zealand, and Panama, and Poland. There are lots of tutorials and video tutorials that offer many useful tips on binary options trading.
Is Opteck a good broker?
In conclusion, Opteck is a reliable binary options broker that adhere to strict security standards to protect the traders’ funds. Their trading accounts offer plenty of features so you should give Opteck a try.