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Opteck is an online brokerage firm trading CFDs on Forex, stocks, commodities and indices. A CFD is a financial instrument that means you are trading on the price values and not actually trading the asset itself. Their platform allows traders to open an unlimited number of CFDs without signing any extra agreements.
Opteck was originally founded in 2011 as a binary options broker. In 2017 they stopped offering binary options completely and began using their Forex platform for CFDs. They are an EU regulated brokerage based in Cyprus and are under the Cyprus Securities and Exchange Commission (CySEC). They segregate client funds from brokerage funds in an effort to protect their customers.
Opteck uses the TraderSoft platform. Their desktop platform claims to be fully customizable and allows access to over 1000 financial assets within Forex, socks, commodities and market indices. This platform offers an integrated charting package that includes candlestick, line and popularity charts for traders to use to identify opportunities for profit and analyze trends.
There is an economic calendar integrated into the platform that alerts users to important economic events. TraderSoft allows users to set rates so that they may receive automatic, instant price notifications when it is relevant.
Mobile access to the Opteck platform can be obtained by downloading an app from either the Apple Store or Google play for either iPhone, iPad or Android. The apps offer traders automatic price updates just as the desktop platform and one click trading.
Opteck offers six different account types: Basic, Bronze, Silver, Gold, Platinum and Black. Their website clearly defines the differences between these accounts with a chart. The biggest differences between the account types are that the three simplest accounts do not offer CFD trading and the three highest level accounts offer CFD trading with fixed spreads on major currency pairs. The Black account is the only one that offers executive position access.
The minimum deposit goes from $250 for the Basic Account to $100,000 for the Black account. All levels of accounts have access to 24/6 support, Education center, Daily Market Review, PRO Webinars and price alerts. The levels above basic also entitle traders to an Introduction Session with an expert.
Opteck also offers an unlimited free demo account and Islamic Accounts.
Opteck has a very extensive education center which has many resources that anyone who visits the website can access. There are currently 3 ebooks for download or reading right on the website. The website also has video courses on a few different levels. The education center has a calendar of webinars, a glossary and an FAQ section.
Overall, Opteck’s website is very impressive. It is clear, informative and easy to use. That being said, we cannot comment on the company’s personal services at the time of this Opteck review, since they have revamped their company so recently and there is no real track record to look at. There are some negative reviews in online forums in the last several weeks but most of the user feedback was from the company’s binary options days.
Review info: Opteck
Review Date: 2017-04-04
Rating : 4.5
Reviewed By : Sara Patterson (Google+)