Opteck is a Forex broker that is owned and operated by Centralspot Trading Limited. The company has been in the financial sector since 2011. It was licensed in 2014 by the Cyprus Securities and Exchange Commission (CySEC), which is also the company that regulates its operations. Further, the broker utilizes the TraderSoft trading platform Forex trading and Contract for Difference (CFD).
The company boasts of at least 1,000 assets that are from Forex, Commodities, Market Indices, and Stocks. For a broker that has not been in the industry for a long period, their number of assets is remarkable. The broker has six trading accounts that traders can choose from, depending on their preferences and the amount of money that they want to use in trading. Also, each account type has a different welcome bonus with traders.
The options offered include; Basic, Bronze, Silver, Gold, Platinum, and Black, all tailored to perfectly fit the varying needs of traders. If you are a new trader, it is always advisable to start with a small account, in this case, the Basic one. You could also try the demo account before trading for real money. Read this Opteck review to have a glimpse of vital aspects about the broker.
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Is Opteck a Scam? Is Opteck Regulated?
The first thing that most people do when looking for a credible online site where they can get various goods and services is to read the reviews. In most cases, regardless of how authentic a site, it is almost impossible to miss a negative review. The same is the case with this broker. If you happen to search the broker on the internet, you will come across some reviews that opine that the stock brokers are not trustworthy.
Nevertheless, the claims that the Opteck Scam is real are not backed up with a solid argument, making all of them invalid. Besides, the company is fully licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC). This proves its credibility considering the fact that the regulating agency holds a remarkable reputation. On the other hand, while the scam claims are not true, there are a few areas that the company has to improve on in order to prove its honesty.
The first thing that the broker needs to work on is its service fees. The fees are rather high, making most people believe that it is after scamming them. The broker’s account managers are not as skilled as traders would expect, making people believe it is a scam. Thus, if Opteck improves on this and ensures that its account managers and the general staff are well-versed in every aspect that relates to trading, then it will be able to clear the doubts. The last thing is the broker should look at is the maintenance fee which stands at $20 per month. Once it looks into these issues, it will be able to prove its transparency.
Alternatives To Opteck
Looking at some of the issues surrounding Opteck, you may be reluctant about joining the broker. If this is the case, you could try other transparent brokers such as 24Option and Libertex. 24Option-platform is ranked as one of the best Forex or CFD broker in the world. It is regulated and authorized by the Cyprus Securities and Exchange Commission. Libertex-broker also operates under the regulation of the Cyprus Securities and Exchange Commission (CySEC) with CIF Licence number 164/12. The two have positive reviews and as such, you can trade on their portal without any fears. Their customer support, staff and account managers are highly experienced and will give you excellent guidance whenever you seek their assistance. They also use cutting-edge technologies to promote the security of your personal and financial .information.