Can you trust Opteck to be your binary options broker?
Are rumors of an Opteck scam be taken into consideration?
Investing safely is a key rule for online traders, and any claims of fraud need to be verified seriously. Here we clarify the pros and cons of Opteck and how it compares to more experienced binary companies.
Opteck comparison to leading brokers
Although the Opteck site is available in ten different languages, this broker caters to certain specific countries, such as South Africa, Malaysia, Singapore, and the USA. When compared to an established binary firm such as 24Option, with proven success in helping customers from those regions in creating real profits, you realize that Opteck has certain flaws which are not worth dealing with, regardless of them being a scam or not.
24Option offers the largest payouts in the industry: 95% per trade, which is substantially more than what Opteck gives customers. More importantly, 24Option is a fully regulated broker with a team of proven financial advisors, whom guide new traders to a high level of skill and accuracy through their well structured free ecourse. Clients from around the globe have praised the assistance this binary broker provides. Register now to benefit from their current promotion, which offers a 100% cash bonus in your account:
OptionBit is another binary company that exposes holes in the package offered by Opteck. Their excellent asset list enables you to create a diversified investment portfolio and benefit from any market circumstance, a major advantage in a very dynamic market. But the main advantage you gain is free access to Algobit, an innovative signals tradin tool that will improve your results. OptionBit is reliable company which gives you the opportunity to trade safely and profit:
Another important feature not available with Opteck is one-on-one training. Such free sessions are offered by StockPair, a broker which offers excellent assistance to Arab speaking clients in particular, and Asian clients in general. Traders report a sharp increase in their profitability after a few lessons from the StockPair advisers. With an advanced mobile platform, StockPair gives you access to a state-of-the-art mobile trading site, which enables you to invest and follow up on your profits from wherever you are. Offering extremely high payouts and a generous cash bonus, selecting this binary broker increases your chances of success:
Is Opteck Legit?
Binary trading is the highest paying online investment, but the amazing payouts are not free of risk. Beyond the financial risks involved in selecting such a volatile financial derivative, there is an additional danger in choosing a broker that will not enable you to reach your ultimate goal: making money.
Opteck, established in 2011, is a relatively inexperienced broker which has been connected to scam complaints on social networks. Nonetheless, in a similar way to what happens to other brokers such as Cedar Finance, a portion of that poor reputation stems from the frustration of customers who were unable to profit, or simply lost their investment.
That is why questioning whether Opteck is legit might not be the best path for your success. Preferably, ask yourself if this binary broker is the preferred company for traders who want to create an additional income from trading options online.
The Opteck Company
Launched in late 2011 and registered in London, UK, Opteck is owned by Bnet Online, a company less known for its financial expertise, and more for its ties with online gambling. This is not necessarily a flaw, nor is it a reason to believe rumors of an Opteck scam. It does indicate that customers might get an excellent and functional site, where image is more relevant than substance.
It is unclear how Opteck manage and secure your funds, and this is definitely a major issue. Although the company proudly reports to have a Comodo SSL security badge, what that effectively means is that customers’ online transactions are protected from hackers. The site does not, however, give information as to where your monies are actually deposited, and what assurances you have that Opteck will be able to refund you when you request a withdrawal. Although this does not constitute a scam, it is a reason for concern and caution.
Additional signs of fraud
Opteck has tried to positively follow the example of serious binary brokers, and offer clients both a pleasant trading experience and the necessary tools to improve their results. The trading platform and their online learning academy are a good start, and although yet to reach the standards of the top companies on the market, it is a step in the right direction.
One major allegation of fraud involving binary firms is the launching of aggressive marketing campaigns that fail to inform customers of the risk factor, and do not assist traders with proper learning tools. Opteck have certainly made a worthy attempt of offering some tutorials, although information about risk management is still extremely lacking.
Another scam complaint often pointed towards certain brokers is the stalling of withdrawals and the difficulty of receiving those profits made. Here again, Opteck has been able to keep its reputation mostly intact.
All in all, other than the absence of information about risk, Opteck should not be labeled a fraudulent site, and to an extent, it seems to be in the right path. Yet, it is a bit early to know where this new company is headed.
Opteck Scam Summary
- Opteck is a binary option broker. This site was launched less than two years ago
- Opteck is legit in spite of fraud allegations raised by unsatisfied customers
- The asset list available on the trading platform is not very diversified
- Likewise, this binary broker does not offer the popular 60 second options
- Otherwise the trading experience is good and the interface is user-friendly
- Rumors about an Opteck scam are widely exaggerated
- Nonetheless, the company could avoid such accusations
- The site fails to inform properly about the risks of online trading
- It also does not explain how the monies of clients are protected
- While Opteck improves its services it is best to choose a more experienced broker