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Opteck – Broker Review and Trader Feedback

4.6 / 5

Attention! We advise to refrain from trading with this broker. We recommend choosing this 👉🏻 reliable broker. For traders from USA, Canada, Australia use 👉🏻 this broker

Ever since Opteck has been established back in 2011, it has been serving hundreds of thousands of online traders and investors worldwide. Focusing solely on CFDs and Forex, this specific broker provides the tools, technology, data and every other component any trader needs in order to start trading and enjoy the entire experience while doing so.

1. General Information

At first glance, the thing that’s so impressive about this broker is the offering of assets it has on their trading platform. With more than 1,000 currency pairs, stocks, commodities, indices and cryptocurrencies you can choose from, the possibilities are nearly endless and the variety is more than impressive. The live data feed that runs on their home page allows you to see what’s happening in the market in real-time and decide which positions to open and when.

Below you can find a list of the Pros and Cons, as well as advantages and disadvantages this broker currently features:

Pros: User-friendly, intuitive and easy to use platform; Vast selection of education materials; More than 1,000 financial assets to choose from; Mobile, tablet and desktop compatibility; Multi-lingual customer support services; Accurate and consistent financial market analysis; 1-click trade execution feature.

Cons: Doesn’t allow to trade on binary options; Can’t open/log-in to your account through Facebook.

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 protected.

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

At Opteck, the platform is synchronized together with the market. This means that traders can open positions on more than 1,000 assets together with the option to take advantage of “Stop Loss” and “Take Profit” conditions both on CFDs and Forex. On top of that, when you open an account and make a deposit, you are entitled to receive up to X200 leverage on all their tradable assets based on how you’ve filled out the required trading questionnaire. This takes only a couple of minutes and shortly after completion, you can go ahead and start your trading experience.

The process of opening a position is plain and simple: you choose an asset, determine the unit amount, select “SELL” or “BUY”, set trading conditions (*Optional) and hit the invest button. That’s about it. After placing many positions on the Opteck platform, it seems that everything is very smooth and super quick with no delays what so ever in the trade execution flow.

4. Trading Instruments

Trading instruments at Opteck include over 1,000 of the world’s top tradable financial assets, divided into 5 segregated groups: Forex (currency pairs), Stocks, Commodities, Indices and cryptocurrencies. If you would like to read more about the different trading options that this broker offers, you can visit their website and see for yourself what you can trade on.

5. Trading Platform

At first glance, Opteck’s trading platform looks like most other platforms. However, as soon as you start opening positions, you almost immediately see the difference. It’s the smoothness and the flow of the entire process, without any unnecessary delays in the trading execution speed that makes this broker’s trading platform so special. Showcasing both CFDs and Forex on the same platform, you can easily choose which asset to trade on with the assistance of the advanced technical analysis graph on the right side of the screen.

This broker also created a dedicated mobile app for multiple devices, such as the iPhone 7 and Samsung’s S7. It made sure that installing the app takes almost no time at all and that you’ll be able to log-in with the same credentials you’ve used to open your account on the computer. Without too many compliments, they simply couldn’t make it any better. They made sure to include the same exact tools and features that you can find on their web-based desktop platform. Opteck made sure is it sleek, quick and accurate.

6. Account Types

Opteck is offering 6 different account types any trader can choose from, mainly based on how much money he would like to start with. These include Basic, Bronze, Silver, Gold, Platinum and Black. Each account type being offered includes a set of fixed features and benefits that go hand in hand with the deposit requirements.

Apart from the account types mentioned above, Opteck also offers a unique account type called “Islamic Account” that is meant for Muslim traders who wish to stay loyal to their Islamic beliefs. Some of the distinct features that come with this account are: 1. No Interest; 2. No Swap; 3. Zero rollover commissions; 4. No fees for account managers; 5. No overnight positions.

7. Account Opening Process and Withdrawal Conditions

Opening your account at Opteck doesn’t require too much time or effort. You can do so by using the green “Open Account” button located at the top right side of the screen or through the “Account Types” page. Once you complete filling out the basic personal information and press the “Sign Up” button, you are re-directed to a deposit page where you simply select your preferred method of payment. The deposit methods that this broker offers are very versatile and include, amongst others: Credit/Debit card, Bank Wire Transfer, Skrill (Moneybookers), Neteller, Western Union, etc.

Once you’ve selected your payment method and completed your deposit, your account is ready to be used and you can go to the trading room to begin your online trading experience. For additional information about Opteck’s deposit methods, you can visit their Deposits and Withdrawals section.

Withdrawal procedure and conditions at Opteck are pretty much the same like with most other brokers:

1. You’ll have to log-in to your trading account
2. Click the “Trading Room” button
3. Click the Withdraw link, located to the right, under the deposit button
4. Enter the amount you wish to withdraw
5. Click the “Withdraw” button

Once your withdraw request has been approved, your funds will be sent to your bank account using the same exact payment method you made your initial deposit with. Opteck made sure that you won’t encounter any difficulties or issues with it. That is something you should be taking under consideration when choosing your desired online broker.

8. Regulations

Opteck is fully licensed and regulated by both CySEC (Cyprus Securities and Exchange Commission) and the IFSC (International Financial Services Commission). This ensures that all your personal information, including your funds and payment history are constantly monitored and protected by the latest SSL encryption and online security protocols, providing you with the safest trading conditions available in the industry.

9. Education for Traders

Opteck offers plenty of education materials and resources for all of its traders, regardless of their knowledge or experience level. This comes in the form of interactive eBooks, 3-tiers video courses, online webinars, industry jargon glossary and much more. Regardless if you decide to trade CFDs or Forex, you can choose between customized trading videos, a state-of-the-art collection of trading eBooks, daily and weekly technical and fundamental analysis section, useful market news you can use to take advantage of in your trading decisions (Economic Calendar) and a comprehensive asset index page containing all the details you as a trader need to know before opening your next trade.

This broker made sure that these educational tools do work if you use them correctly. Even if you are an experienced trader, it is always better to take advantage and utilize the resources your broker gives you than to think you already know everything and eventually get disappointed from your online trading outcomes. Feel free to go ahead and visit this extremely useful section.

10. Should you trade with Opteck?

Well, it all depends who you are asking. Opteck invested a lot of time and effort in order to make sure its traders will be highly impressed with almost all the services and features it is offering, especially from its trading platform. There is no better way to describe the overall experience as very positive. If someone would have asked me to rate this broker and give it an overall rating, I would have to say that a 4.75 out of a maximum 5 would be a fair score. After all, it’s one of the most professional, reputable and transparent brokers in its respected industry, and that can’t be taken for granted.

Reviews on Opteck

Comments about Opteck
( 3 )
User rating: 4.5 / 5

Comments: 3

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