Trading Platform & Assets
Opteck offers fewer tradable assets than many competing binary options brokers, with 70 underlying assets across all 4 categories. In addition, Opteck provides One Touch Options as well as High/Low Options. Traders who are in the money (generate profitable trades) stand to gain as much as 85% profit. There are however ways to reduce losses by using things like stop loss tools. Standard trading hours for the online platform range from Sunday 10 PM – Friday 9:50 PM GMT. The Opteck trading App for Android-powered smartphones and tablets is available at the Google play store, and the App for iPhones and iPads is available from the App Store. The site is clutter free, making it ideal for newbies to start trading binary options. There are multiple tradable assets available including the following: Commodities: corn, coffee, crude oil, silver, gold, copper, natural gas and wheat Indices: S&P 500, DAX 30, Dow Jones Industrial Average, TA 25, AEX and CAC 40 Stocks: British Petroleum, Barclays PLC, Deutsche Bank, HSBC, British Airways, Citigroup Inc, SAP AG Currencies: USD/CAD, EUR/GBP, USD/JPY, GBP/USD, and NZD/USD Expiry times on tradable assets are available in 15 minute intervals, and traders can easily make trades from the chart as well as the symbols listed beneath the charts. With the Opteck trading platform, there is no need to conduct extensive technical and fundamental analysis to start trading – you can simply click and trade at your leisure. Green arrows signify call options and red arrows signify put options.
Bonuses and Promotions
In order to start trading at Opteck, you need to register and deposit. The following payments options are acceptable: Visa, Diners Club, JCB, MasterCard, bank wire, Moneybookers, Western Union, and Cash U. In most cases, deposits are available within 1 business day. Withdrawal of funds is a 3-step process and requires traders to login, click withdrawal and select their desired withdrawal amount. The minimum withdrawal amount is $50, but it is subject to charges of 3.5%. Identification will need to be provided to process withdrawals. Typically withdrawals are completed within 3-4 business days which is well within the industry timeframe. There are bonuses available, and traders should contact customer support to find out about the latest bonuses and promotional offers.
Mobile Trading Platform
Since most traders own smartphones or tablets, it is really convenient to scan the QR code or download the free mobile trading app from Opteck. iPhone and iPad users as well as Android smartphone and tablet users can easily get started with a new mobile trading account. It features multiple assets with rapid and reliable technology on a secure trading platform.
The Bottom Line
There are plenty of benefits to trading at Opteck, not least of which is the simplicity and user-friendliness of the trading platform. Payouts are listed at up to 85% but in reality these can go much higher. Traders can also qualify for out of the money cashback on certain assets. The educational resources are all-encompassing and they make it possible for traders to access all manner of webinars, guides, tutorials, e-books and more. The demo account is a big bonus for newbie traders and customer support is on the money. If you’re a US or Canadian trader, you cannot trade at this binary options broker.
The last binary options broker that I reviewed was IG Markets. I’ve got to say, going from the IG trading platform to the OpTeck trading platform was a breath of fresh air! While many brokers offer platforms that are so convoluted with information and tools that you don’t need that it’s hard to find what you do need, OpTeck is not that kind of platform. I found that their platform was very simplistic in nature; making it easy to navigate. More importantly, while the company clearly had a focus on simplicity and user experience, they also made sure to include all the tools and data that binary options traders would expect to see in a solid trading platform. All in all, I was incredibly impressed with the trading platform offered by OpTeck.
Deposits & Withdrawals
- Minimum Deposit – While beginner binary options traders are often turned off by high minimum deposits, that won’t be the case with OpTeck. At $100, their minimum deposit is one of the lowest in the industry!
- Deposit & Withdrawal Options – I was also incredibly impressed by a number of options the broker offered with regard to depositing and withdrawing money. Traders can do so using credit cards, debit cards, bank wire transfers, Webmoney, Moneybookers, Western Union, or CashU. It’s also worth mentioning that they process deposits and withdrawals incredibly quickly; adding to the overall integrity of the broker. The minimum withdrawal amount is $50 and for wire – $100.
Customer Support & Education
When choosing a binary options broker or any financial service for that matter, it’s important to pay close attention to customer support and educational resources offered. After all, if you’ve got questions that have to do with your money, it’s important that someone is there to answer them. Also, if you’re a new comer to the binary options market, it’s best to have educational resources that will help you grow a career as a professional binary options trader. Here’s how OpTeck stacks up in these areas…
- Customer Supporting – First off, I was incredibly impressed by the customer support offered. The customer support team is available from 8am Monday until 9pm Friday and closed on the weekend. Traders can contact support via phone, live chat, or email; and the staff is well-trained. More importantly, it seemed as though the representative I talked to had a genuine interest in my success as a trader.
- Educational Resources – I also found that the educational resources offered were incredibly impressive. They offer articles and tutorials that will guide the beginner through what binary options are, trading strategies, risk management, and far more. They even offer a demo account so that beginner traders can test their strategies before putting any money on the line.
OpTeck’s platform is 100% unique and proprietary to them. Therefore, you won’t find another broker that will match the overall experience that you’ll have at OpTeck. However, when it comes to unique features that are trading specific, I, unfortunately, wasn’t able to find any.
All in all, I found that OpTeck is one of the more impressive binary options brokers. With a strong platform, positive customer service and strong educational resources to match, you may want to take a close look at OpTeck if you’re looking to try your hand in binary options or find a new broker.