Room: ZTrade Australia

Introduction

Opteck is a binary option trading platform brand that belongs to a UK company called BNET ONLINE LTD that was established in 2011. The holding company is registered at #788-790, Finchley road, London, UK. The Opteck trading platform is a result of efforts by several professionals from the financial and software development sectors whose aims were to produce a binary option trading platform that caters to both novices and experienced binary options traders. Opteck is officially authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC). This regulatory body will be in charge of overseeing our entire operations.

Trading Platform

As mentioned earlier, the Opteck trading platform was developed for both novices and experienced traders. Being 100% web-based, the trading platform doesn’t require any software to be downloaded in order for it to work. This also means any internet capable computer will be able to access the trading platform. Traders who wish to trade on their Smartphone can download the Opteck App from Apple App Store or Google Play.

The trading platform allows traders to trade in around 60 underlying assets and offers high returns within a time frame of as little as 15 minutes. The platform allows traders to trade directly from the chart as well as from the symbol listing below the chart. This is a massive advantage for placing trades quickly with the full market picture in front of you.

Types of Trades

There are two types of platform options which traders can trade in:

• High/Low Trades
• One Touch Trades

High/Low Trades

With this type of options, the trader decides whether the expiration price will fall below or above a predetermined price level.

One Touch Trades

This type of binary options is for when a trader thinks the expiration price will either reach and touch the line or will fall below that level by expiry but is unsure of its sustainability over a period of time.

Payout

Depending on the types of trade, Opteck offers their clients a payout of as much as 85% to 100% if the option expired in the money. For unsuccessful trades, traders will still get a refund of up to 15% of the invested amount.

Asset List

Currently, Opteck gives their clients the option to trade in over 60 underlying assets.

Customer Service

Apart from English, the Opteck website is supported in 4 other major languages:

• Arabic
• French
• Japanese
• Italian
• Polish
• Turkish
• Russian

For customer support, Opteck provide 3 methods of communicating with the support team, Live Chat, email and through the phone. For email support, clients of Opteck can email them at service@opteck.com. For those in the UK who wishe to speak to the support team on the phone, they can call Opteck toll free number at #0800.170.0209. For International clients, they can reach Opteck at +44(0)844.484.2545.

For the convenience of their clients, Opteck provide the following methods for their clients to fund their trading account:

• Major Credit/Debit cards like VISA, Mastercard, and Diner Club
• Wire Transfer
• Webmoney ewallet

Withdrawal of funds is also supported with the methods mentioned above.

Pros

The advantages of the Opteck Trading platform include:

• Bonus to refer a friend
• Trade from charts
• Comprehensive Education Center
• High Returns of 85% to 100%
• Support Mobile Trading
• User Friendly Trading platform
• Welcome bonus

Cons

Being a new trading platform, Opteck can still improve in the following areas:

• Demo account for practice trading
• Provision of more Underlying assets to trade in

Conclusion

While Opteck could certainly have a larger asset list this is not too much of a setback as most successful traders would focus on very specific assets in which they can become experts. All the major assets are listed. The simplicity of the trading platform makes it ideal for novices to get their feet wet without being overwhelmed by too many choices.

Since the deregulation of the forex trading industry in 1997, there has been a massive proliferation of internet based spot forex brokers. While this scenario might be a good thing in terms of the availability of choice for traders, too much of a good thing can also be bad. This is because it can be difficult to sift out the “bad” from all the brokers out there, as basically everyone is offering the same kind of service. However, all this started to change when a broker called eToro introduced the concept of social trading to the world in 2010 with the launch of their OpenBook social investment platform. With this innovative social trading platform, traders can now easily copy the trading strategies of their more successful peers without having to have a solid foundation in trading the spot forex market.

Trading Platforms

Since the debut of their OpenBook social trading platform, eToro has gone on to improve the functionality of their platforms. Now, eToro have provided their traders with 3 ways in which they can trade the markets namely with eToro WebTrader, eToro OpenBook and eToro Mobile Trader.

eToro OpenBook

Regarded as the most popular forex social trading platform in the world, eToro OpenBook platform lets you follow the progress of other traders as well as lets you interact with them in real time and puts the power of networking into the palm of your hand. With the integrated “Copy Trader” feature, you can copy the trades of your more successful peers automatically in real time as well.

eToro WebTrader

A web based powered trading platform, eToro WebTrader provides you with all the tools that you need to analyze your trades as well as letting you synchronize with OpenBook to copy the trades of others.

eToro Mobile Trader

With the introduction of eToro Mobile Trader apps, traders can now also access the power of social trading with their smartphones and mobile devices.

Now in addition to forex, traders can also trade a selection of commodities and stocks with eToro’s trading platforms.

Account Types

At eToro, you have a choice of two different types of trading account, standard trading account and Islamic trading account.

Standard Trading Account

Opening a trading account at eToro is easy as they only require a minimum initial deposit of just $50. You can fund your trading account using the following methods:

• Credit Cards
• MoneyGram
• Neteller
• PayPal
• WebMoney
• Wire Transfer

Withdrawals at eToro can only be done after your have verified your account. Once you have verified your account, you can withdraw using the same method that you used to deposit your money into your trading account. Take note that the minimum amount to be withdrawn is $20.  There is also a small fee payable when you make a withdrawal. The fee is dependent on the amount to be withdrawn and ranges from $5 to $25. The stipulated processing time for a withdrawal request is up to 5 business days.

Islamic Account

For Muslim traders who want to trade the forex market according to Shariah principles, they can choose to open an Islamic trading account with a minimum initial deposit of $1000. With the Islamic account, no interest is imposed on overnight positions and no commissions are payable as well.

Demo Account

For those of you who want to try out eToro’s trading platform fist, you can always sign up for their obligation free demo account. The demo account lets you try out all the features on eToro without having to risk any real money. Instead, you will be trading with $10,000 virtual cash supplied with the demo account.

Commission & Spreads

At eToro there are no commissions payable. Instead, traders have to pay a slightly wider spread on all their trades. With the exception of Bitcoin transactions (1 pip spread), the typical spread at eToro starts from a minimum of 2 pips for the USD/JPY currency pair and 3 pips for the EUR/USD, USD/RUB USD/CHF and USD/CAD. For less frequently traded pairs, the spreads can go up to as high as 14 pips.

Customer Support

Customer support services at eToro are provided in several major languages and are available 24/5. Contact with the support team can be done through email, live chat or the telephone.

Pros

• Automated Trading
• Comprehensive Training Academy
• Ground Breaking Social Trading Platform
• Multiple choices of trading platforms
• Regular Attractive Promotional Offers

Cons

• High Spread
• Limited Choices of Forex Pairs
• Their Platforms are Non Customizable
• Trading Charts lack sophisticated tools

Conclusion

There is no doubt that eToro’s social trading platform is the most innovative change that has occurred during the past few years. They have single-handedly transformed a stressful trading endeavour into a fulfilling experience which feels more like game for everyone. The OpenBook platform can be said to be tailored made especially for novices of online trading who are unsure of how to start.