OPTECK

General Information & Regulation

OPTECK was initially founded in 2011 as a binary options broker. In 2017 the broker and their parent company, Centralspot Trading, received a temporary suspension of their license for noncompliance with CySEC regulations and paid a €50,000 fine. OPTECK is not subject to any regulation at this stage.

Market Instruments

With OPTECK, traders can have a choice of CFDs and forex trading. Other available financial instruments are not disclosed.

Minimum Deposit

In terms of minimum initial deposit, it takes $250 to get started, although they do have a free demo account to check out their trading platform.

Leverage

Since Opteck is a binary broker, it seems that it does not provide any trading leverage information on its website.

Additional Fees

Clients of Opteck are charged with some additional fees:

• Monthly maintenance fee of $7.50 (a monthly account charge encompassing all services and features available for traders);

• Profit clearance fee applies to successful trades or those sold for profit with binary trading;

• The profit clearance fee is determined by the total profit of the successful binary trade: $250 or less = $1.50, $251 – $500 = $2.00 ,$501 – $1,000 = $3.00, $1,001 – $2,500 = $4.00.

Trading Platform Available

When it comes to trading platform available, OPTECK uses TraderSoft, a holdover from their binary options days. The platform is far too simple for trading CFDs and forex, with minimal information and an inadequate user interface.

Deposit & Withdrawal

Traders with Opteck can fund their accounts and make withdrawals with most payment methods, wire transfers, credit cards, and a few online payment processors. Note that the minimum withdrawal amount is $50 ($100 for wire transfers) and withdrawals take between 3-5 business days.

Customer Service

The OPTECK customer support can be reached through telephone (+35722007264), email and live chat.