Not Trusted Broker by UsBinaryOptions.com
|Support Types||Phone ( USA 0800.610.1490 ) , Live Chat , Email|
|Languages||English , French , Japanese , Russian , Italian , Arabic|
|Minimum 1st Deposit||$200|
|Minimum Account Size||$200|
|Bonus||Not Trusted Broker by UsBinaryOptions.com|
|Free Demo Account|
|Deposit Methods||Credit Cards , Bank Wire Transfer , Moneybookers / Webmoney , Western Union , CashU|
|Number of Assets||70|
|Expiry Times||From 60 seconds to 24 hours|
|Types of Assets||Currencies , Indices , Stocks , Commodities|
- They don't accept US residents
Opteck , is a leading binary options broker since 2011.
Opteck was founded by Bnet online LTD, this is a private company and it is registered in the United Kingdom under their laws. Opteck was founded by a group of professionals who were very passionate about trading on the global markets and also being able to enable others to also trade online.
Their website is very clear and easy to understand; it is very simple and doesn’t take long to get your head around it either.
Opteck.com offers its traders a 100% web based platform that is usable across the world it is safe and secure to use, it does not matter where you are,
You can trade using:
- Smart Phone
All you need is a good internet connection and trading is available to you no matter where you are.
Assets and Expiry Time
Opteck have a large range of assets to choose from, the binary options that they have are derivatives of the market which is underlying and these are what reflect the value of the asset and its true value. The rate at which they payout is about 85% so if you trade with $100 and your trade is successful then you will receive $180. But if you find that you have got a loss then they offer their traders:
- 5% protection rate
- You will get 5% of the investment that you originally invested if your option expires and you are out of the money
Expiry times will be from 60 seconds up to a month and the amount of time it will take to be in profit will determine just how long you will need the expiry time to be.
Commissions and Maximum Profits
Opteck.com does not charge any trader any commissions on any of the transactions unless this has be discussed beforehand. When it comes to a profit then you can get anything up to 85% profit for each of your trades that wins.
opteck have a great customer service team, they are contactable through:
- Live Chat
- Phone ( US phone 1-877-3311990 )
There is also a premium service which they offer to traders which includes:
- Trading experts
- Professionals of risk management
This platform enable traders to make deposits in a number of ways these include:
- Credit Card
- Western Union
Their minimum deposit is $200.
Opteck Review: Summary
If you are looking for short term investments then opteck are the company to use, their platform is great for beginners and also traders of vast experience. You can trade with many assets, currency and commodities. There are many options available when needing to make deposits and withdrawals and the system with which they use is safe and secure. As a trader you can access the website from many devices and their customer service is excellent with many options to choose from.
NOTE: Opteck is not taking US clients from 1st September 2013!
Customer Reviews on Opteck
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Is there any way we can sue opteck for mismanagement ie bad advise and pressurized phone calls persuading individuals to deposit large amounts of money only to give bad advise so they loose it within hours.Also they refuse to acknowledge emails regarding closure of accounts ETC
If there is a rating lower than 1 star, that is what I am going to give. Stay away from Opteck, people! They are very good when you deposit money, but when it comes to withdrawing your earnings, that is when the problem begins, they will force you to trade with them until such time that your balance is down to zero and you will be asked to deposit again so you can recover your lost, blah, blah, blah. In the end, you get nothing and your request to get your money back falls into deaf ears. I hope that the Canadian government does something to stop Opteck from contacting good-hearted, honest working Canadians for them not to get victimized by this scammers. I am wondering how these people they call customer support manage to sleep and use the money they get from innocent people in feeding their family. So my advice, please stay away from binary trading and invest thru your bank wherein you see that you're dealing with the 'real' people and not those hiding from different names you can't even google on the internet.
“When I first joined Opteck all was well, I was promised 2 or 3 calls a week, live trades with my mentor and bonuses that were completely mine to do with as I pleased. By the end all of these promises were either not delivered or retracted.
A couple of months into my training my mentor, Daniel Stark, was asked to take over their new US operation. It was really at this point that everything started to go wrong. Daniel often missed scheduled calls and we were nowhere near the 2 or 3 calls a week, and I had only been given 2 live trades. Wishing to be supportive of Daniel, I suggested we have less calls, in the hope that this would enable him to keep his scheduled calls and promises.
The next few weeks went without incident and I started doing well and making profits so I thought I should make some withdrawals. This proved to be the next hurdle. In total I made 4 withdrawals each of which took between 3 to 4 weeks to complete. Not only was the money very slow in transfer but Opteck did not provide any information and I was having to chase constantly to try to get some information as to what the issues were.
As time progressed Daniel taught me the bulk of their strategy and I was beginning to make consistent profit. I was really enjoying the trading and started to gain a bit of confidence, until one day I went to the trading platform as usual and placed my trade only to be told “this trade is below the minimum trade allowed”. I thought there was some sort of problem with the site and e mailed Daniel to find out what was going on. I did not get an answer for 4 days and was then told that the “upper management” of Opteck had decided it was time for me to start making money for Opteck and they had therefore set the minimum trade allowed at $2,000.
I was rather shocked by this because not only had I not been given any indication that Opteck might do anything like that on my account, but I was not even told beforehand or indeed till 4 days afterwards. What I found most upsetting was that this decision was made without any discussion with me. Opteck basically hijacked my account by placing a very high minimum trade level without my knowledge, agreement or explanation.
To make matters worse this meant that the strategy I had been taught by Daniel was no longer an option. So all the months I had been training and learning the strategy were rendered useless. Daniel had always told me to make my market test trades. In other words, to place small trades first, followed by larger ones. I did this religiously and it was a critical part of my success, until Opteck decided unilaterally that they would change my minimum trade allowed to $2,000.
As if this wasn’t enough the management team that made this decision clearly did not check all the facts because not only did they want me to “start making money for Opteck” but they said they put the minimum trade level on my account because I was making small trades. If they had bothered to check with Daniel or my account they would have learnt that this was exactly what he had taught me to do and furthermore they would have seen that the small trades were always followed by bigger trades. Actually since I started till this all happened I had been trading $4,800 per day on average.
At the time they made this change to my account I had made 100% profit, clearly showing that I was capable of trading and was in fact already making money for Opteck.
After they imposed the minimum trading limit everything started to go wrong, because I could no longer use the strategy they had taught me and also quite frankly it felt like it was their account to do with as they pleased not mine.
Over the next few weeks I tried to work with the new arrangement but also tried very hard to get Opteck to remove the minimum trade limit.
Each week I was losing money and each week I would ask them to remove the minimum trading limit, I explained that clearly the change they had made was not working for me and therefore ultimately not for them either.
The professional, ethical and correct business decision at this point would have been to remove the trading minimum and let me resume my successful trading. This would have been a win/win solution to the issue as I could have continued to make profit from trading and Opteck could have continued to make profit from me. Instead Opteck insisted on maintaining the trade minimum. It would have been SO simple for Opteck to resolve this.
This went on for a few more weeks until finally I had lost even some of my capital. According to Opteck a trader should never trade more than 10% of their capital in a day and yet with the $2,000 minimum they were forcing me to make trades that represented 33% of my capital. Again Opteck were forcing me to work outside of what they had taught me in the first place. I made one final attempt at talking to Opteck and getting them to see reason and explain that a win/win solution was still possible.
The answer I got back was that I was “too high maintenance” and that they would simply close my account. This seems a rather personal decision on their part but, putting that aside for a minute, I was staggered by this for two reasons, one being that if it had not been for them having serious issues around the withdrawal process and then the unilateral imposition of the $2,000 trading minimum I would not have been a “high maintenance” client. In other words they created the problems and then labelled me high maintenance. Secondly, by closing my account they took away any possibility of my trading to regain my lost capital.
They chose the lose/lose option whereby I ended up with no account to trade, and no way to redeem my capital, and they lost because up till the time of the account change I had been a successful trader making around 50% profit on my capital each month. I cannot see how this is a good business decision on Opteck’s part.
My conclusion is that Opteck is not ready to be a serious player in the binary option market and needs to invest in aligning what they promise at the start, teach in their trading strategy to their processes and policies. They are clearly working against the interest of their traders and therefore their own as well.
This whole nightmare could have been avoided by not placing the $2,000 trading minimum without my agreement or by removing it so I could continue to trade successfully. As it stands now nobody gains anything. All for the sake of a poor business decision that could have been reversed in 2 minutes.
One last note, I had introduced 4 other traders to the platform, all were awaiting the outcome on my account before investing more money. Needless to say these people will also be closing their accounts with Opteck. So not only did they lose a successful trader in me but also another 4 potentially successful traders. Again, how is this a good business decision?
Don't trust the good reviews from FXempire.com They are an affiliate of many scam brokers and they get paid for refering people there. I posted the same review where they do not process my withdraws request and FXempire removed my post.
I deposited $250 USD and filed all my documents right away. Then I used RSI reversal/retracements strategy and a few other custom indicators on trending markets. I went from $250 to $4,200 in two weeks. Immediately an account manager contact me and offered me a VIP account where I'm required to deposit more money up to $5,000 to be eligible. I refused and then he offered a payment plan. They keep pressing me to deposit more and how beautifull a VIP can do for me. I found that fisgy so I made a withdrawal request for $2,000 and still refuse the VIP offer. I emailed my Wire transfer details as their request to both their billing department and my account manager. I contacted and email them after 2 weeks. Its been almost a whole month now and the past two weeks I'm getting a silent treatment. I got nothing back, not even a reversal of my initial deposit.
Total FRAUD. And they are NOT regulated. They seem to advertise aggressively, targeting USA region especially.
Good customer service, no requotes, no expiration price manipulation, and good reviews from their affiliates is the NEW fraud scheme in the UK/CYPRUS Binary Options industry.
I'm done with UK/Cyprus Binaries. I'm with Nadex now. If all the tempting bonuses and new platforms they offer is hard to not trade with them, then try to make a withdrawal request. You'll realize you're wasting time and money.
Thanks for reading.