Opteck is a binary options broker with a bit of a spotty track record. A few of the readers here at binary today use this brokerage and wanted to know my feelings on it.
Today I’ll be providing a review and letting the binary today readers understand if this is a trustworthy brokerage or one that we should stay far away from.
Your Rating: [ratings id=”33571″]
My initial thoughts on the Opteck brokerage are in the middle-of-the-road. Founded in 2011, this brokerage has certainly has had its shares of ups and downs. In my research I’ve found that there are quite a few complaints from their clients. These complaints are often well written and comprehensive which makes me very skeptical of their services.
Opteck uses the market pulse platform which is well-suited for new traders. They also provide a free e-book which is helpful because it is packed with the binary options trading basics, tutorials and provides access to a demo account. The educational material is useful and well put together. Another positive about this brokerage is that they are regulated by CySEC. The minimum deposit is $250, they provide 50 assets and offer bonuses up to 100%.
Opteck is owned by Centralspot Trading Ltd, located at 6 Vassili Vryonidi Street, Office 304, Limassol, 3095 Cyprus.
No matter how much research I do about this brokerage I keep stumbling upon more negative reviews and customer complaints. Many of these complaints strike home with me because they are similar to emails I’ve received from my readers in the past about other binary options brokers. In quite a few of these reviews traders are complaining about account managers mishandling funds, constantly calling for more money and losing large chunks of money in one trading session. Stories like these are commonplace in the binary options market and it’s why I believe traders should not be trusting binary options account managers to trade for them.
Considering the amount of negative feedback I’ve read I can’t recommend Opteck at this point in time. Obviously, negative reviews can be fabricated by competitors and there are always bad customers as well but in this case it’s overwhelming. Normally if I can find a ratio of 50% good and 50% bad then I’m willing to give a brokerage a fair shot but in this case I’m not seeing any positive feedback. If you are using this brokerage for your binary options trading I’d like to hear from you so please leave a comment or question below the article now. Thanks for coming to binary today and please come back soon.
Hi. I’ve just invested USD250.00 with Opteck. Now they say I must invest another USD300.00 in order to commence trading.
My initial USD 250.00 has already decreased and I haven’t even started!
What is your advice? I don’t feel confident in paying any more money.
Hi Pat, this makes no sense. You should not have to invest more money. I don’t see why they would force you to do anything in this scenario you’ve laid out for us.