Update on the broker Opteck
Like many other binary options brokers, the company Opteck closed its operations in mid-2098 due to the ban on these trading instruments in Europe and other jurisdictions. To this, we must also add the bad reputation that binary options have acquired among retail traders.
However, if you are interested in trading binary options and other instruments such as Forex and CFD through a recognized and regulated broker, you can try IQOption.
You can get more information about this company in the following guide: IQOption broker review
Review of the Binary Options Broker Opteck
Opteck is a binary options broker which commenced its operations in 2012 and has its headquarters located in Cyprus. This company offers various types of binary options trading (including High/Low, One Touch, and ladder) based on various types of underlying financial assets, including stocks, commodities, and currency pairs. It is a broker that is known for providing various additional services to its customers, such as educational resources for the trader and promotions for new customers.
Also, this broker provides CFD trading services based on a variety of markets. These contracts allow the trader to perform leveraged operations with multiple instruments.
Opteck belongs to Centralspot Trading (Cyprus) Ltd, a company regulated by Cyprus.
Type of Broker
Opteck is a Binary Options Broker.
Country of origin
The main offices of this broker are located in Cyprus.
Underlying Assets (Binary options)
Opteck customers are able to trade with options based on the following underlying financial assets:
- Currency pairs (Forex): 45 currency pairs in the Forex market, including the most important as the EUR/USD, GBP/USD, and USD/JPY.
- Commodities: 7 of the most important commodities in the market, such as gold and crude oil.
- Stock Indexes: 14 of the major stock market indexes, including the Dow Jones and Nasdaq.
- Stocks: 94 shares of major stock exchanges worldwide, such as Google, eBay, Coca-Cola, Volkswagen, and Fiat among others.
Types of Binary Options
Opteck offers three types of binary options to its customers which are described below:
- High/Low Binary Options: This is the more popular type of binary option due to the combination of high performance with relative simplicity in comparison with other instruments. The investor simply has to predict whether the price of a financial asset will finish above or below the opening price of the position at the end of the expiration of the contract period. Usually, High/Low options offered by Opteck to its customers have a maturity of 1 hour, but the trader can also trade options that have a shorter expiration period or even longer, from 60 seconds to 1 week.
- One-Touch Binary Options (a type of barrier binary option): This is an American-style binary option that is more complex compared with the High/Low options. In this case, the trader tries to predict whether the price of a certain instrument will reach or not a certain price level or barrier before the end of the contract period. If the price reaches the barrier the option is settled immediately and the position is closed. Typically, these options have an expiration period longer than Above/Below options and offer higher profits up to 500% in the case of Opteck.
- Range Binary Option: This is the more complex type of binary option offered by Opteck. In this case, the trader must predict whether the price of an underlying asset will remain or not in a particular price range ( it has two price barriers ) for the duration of the contract (expiry period). For example, suppose that the investor believes that in an hour the price of GBP/ USD will remain within a range of 1.5200 to 1.5250 therefore he decides to purchase a range binary option Now suppose that at the end of the contract the GBP/USD reached a price of 1.5245 and never touched he upper or lower barrier, which means that the option expires In The Money and the investor obtains a default payment of 65% -100%.
Payments offered by Opteck
In this case, the earnings offered by this company for binary options that expire “In The Money” are the following:
- High/Low Binary Options: A gain of 65% to 85% on the amount invested by the trader in the operation.
- One-Touch Binary Options: A benefit of 65% to 500% on the amount invested by the trader in the operation.
- Range Binary Options: A benefit of 65% to 100% on the amount invested by the trader in the operation.
In the case of losing trades (binary options that expire Out The Money), this broker offers its customers the ability to recover between 5% and 15% of capital invested in the transaction. Thanks to this, it reduces the impact of losing trades in the account of the trader.
Contracts For Difference offered by Opteck
Opteck customers can also trade CFDs based on currency pairs, stocks, indices, and commodities through the same trading platform. These contracts allow making transactions in the markets which can remain open as much as the trader requires since they do not have a maturity period.
Through these instruments, the broker offers a simplified form of trading with leveraged products, which is accessible to any trader, including those with little experience in CFDs. The Opteck client has the possibility to trade both CFD and binary options at the same time, using the same account and capital, and the same trading platform. This increases traders’ investment opportunities and allows them to diversify their strategies.
The main features of the Opteck CFD are as follows:
- There is no time limit (there is no expiration period).
- These transactions are based on leverage and margin. The customer only has to invest a percentage of the total value of the transaction. The maximum leverage is 1:200.
- The profits and losses of trades depend on both the direction of the market and the number of pips that the price moves.
Silver Account (Deposit of $250): This is the basic Opteck account type which is designed for traders with little experience in the field of binary options. It offers several advantages such as a 20% welcome bonus, free access to an educational center on binary options, daily market reviews, pro webinars, and price alerts.
Bronze Account (Deposit of $1000): This is a type of trading account created for traders with more experience in binary options trading. It offers several advantages such as a 30% welcome bonus, free access to an educational center on binary options, daily market reviews, pro webinars, price alerts, and an intro session with an expert.
Silver Account (Deposit of $2500): These are trade accounts designed for traders with more experience and capital to invest in the binary options market. It offers several advantages such as a 40% welcome bonus, free access to an educational center on binary options, daily market reviews, pro webinars, price alerts, and an intro session with an expert. Also, the trader can get an extra payout of 1% on binary options trades.
Gold Account (Deposit of $10000): These trading accounts were created for traders who achieved an even greater level of trading experience with binary options. Gold accounts offer several advantages such as a 60% welcome bonus, free access to an educational center on binary options, daily market reviews, pro webinars, price alerts, an intro session with an expert, and a strategic analyst private session. Also, the trader can get an extra payout of 1% on binary options trades and fixed spreads of 2-4 pips on CFD.
Platinum Account (Deposit of $25000): These are trading accounts designed for professional traders with a lot of experience in the field of binary options. Platinum accounts offer several advantages such as an 80% welcome bonus, free access to an educational center on binary options, daily market reviews, pro webinars, price alerts, an intro session with an expert, and a strategic analyst private session. Also, the trader can get an extra payout of 2% on binary options trades and fixed spreads of 1-3 pips on CFD.
Black Account (Deposits over $100000): This is a special account type of Opteck for VIP customers. These trading accounts offer several advantages such as an 80% welcome bonus, free access to an educational center on binary options, daily market reviews, pro webinars, price alerts, an intro session with an expert, and a strategic analyst private session. Also, the trader can get an extra payout of 3% on binary options trades and fixed spreads of 1-3 pips on CFD and access to extra underlying assets, expiry times, and liquidity options.
The trading platform of Opteck is a web-based proprietary application designed by the company, which can be accessed from anywhere with an Internet connection through the broker website. This platform has a simple interface, designed specifically to trade with different types of binary options and Contracts For Difference that Opteck offers to its customers. It has the following basic functions:
- Updated quotes of all underlying instruments offered by Opteck.
- Basic price charts which show the opening time and closing of a binary option (maturity).
- Return of all binary options in case the trade expires In The Money.
- Management tools for opening new positions.
- A trading signal servicer.
- A smart control panel, which offers you multiple analysis tools to monitor the investments closely.
Opteck offers a demo account with no limit of time.
The clients of this company can deposit and withdraw funds through the following payment options: Bank Wire Transfer, Credit Card (the most important like Mastercard and VISA), Skrill, Webmoney, Western Union, and CashU.
The deposits can be made both in Euros, Pound Sterlings, and US Dollars.
Main Advantages of Opteck
- It is a regulated broker with a license from CySEC of Cyprus.
- This broker offers regular promotions for its customers, including bonuses for the deposit of funds in the trading accounts.
- Opteck customers have the possibility to extend the maturity of a binary option, which increases the chances of success of their operations.
- Clients can trade with a variety of markets through binary options and CFD.
- This broker offers trading signals through its trading platform.
- Opteck offers several educational resources for its clients including:
- A free ebook about binary options.
- A full tutorial on binary options and trading in general.
- Direct support from an expert in the market who can be consulted regarding any topic related to binary options trading, such as: trading strategies, technical and fundamental analysis, risk management, and others.
- Regular market analysis made by experts.
- Opteck offers the opportunity to earn money by promoting its services as a binary options broker through various affiliate programs.
Main Broker Offers
Opteck offers regular promotions for its clients which are valid throughout the year:
- It offers a welcome bonus from 25% to 100% with no maximum limit.
- The traders can insure their investments for an amount of up to 50% of the capital deposited.