Full Opteck Broker Review
This is one of the few CFD brands that is not located in Cyprus. Indeed, Bnet Online Ltd’s Opteck is located in Finchley Road, London. Opteck offers its traders the metatrader 4 trading platform for all trading operations.
Trading Instruments, Margins and Leverage
Traders at Opteck can trade in Forex pairs and Spot Metal prices. The broker offers all major currency pairs, minors and various exotic currencies. These currency pairs attract various spreads depending on the given account type opened by the client.
Spreads and Margins vary depending on the trading instrument in question. Spreads begin at 0.0 for some currency pairs, but the most realistic starting level is 0.1. However, on an average basis, spreads begin at about 0.5 for the EUR/USD pair, while the USD/JPY pair’s average is at 0.7. The margin requirement for currency trading is set at 0.25%. Leverage ranges from 1:1 to 1:500.
As for indices trading via CFDs, different markets have different commission levels calculated as a percentage of volume. They also have a minimum commission of about 4 USD/EUR/GBP/AUD/CHF or 25HKD and 400 JPY as per the various local markets. Leverage for these is set at 1:20.
On the other hand, shares have a commission requirement of about 0.02% for US stocks and 0.20% for Europe while leverage is set at 1:10.
Spot Gold attracts a spread of 0.5 with 0.7% margin per contract of $100 while crude oil attracts a spread of 4 and a margin of $650 on a contract of $10. The rest of the information on margin and leverage is provided on the broker’s website.
Trading Tools and Resources
Opteck has developed a comprehensive learning platform where traders can access trading courses, webinars, videos and eBooks about forex trading. There is also a news and analysis resource as well as various trading tools including pip and margin calculators, economic/financial calendars and research section. Opteck also provides for its traders free 1-to-1 personal education.
Opteck also made sure that traders are able to trade at any time and from anywhere by launching MT4 platforms for both desktop and mobile devices including iOS and Android versions.
Deposits and Withdrawals
Traders at Opteck can deposit and withdraw funds in their accounts via Neteller, Bank Transfer, Credit/Debit Card, Skrill/MoneyBookers, Perfect Money, WebMoney, OkPay, Qiwi, FasaPay, and UnionPay.
The minimum deposit amount for most of the methods is either $10 or $30, but for wire transfer, which takes 3-5 days to clear the limit is set at $100. All methods apart from Perfect Money, OKPay, UnionPay and Neteller attract some sort of fee when depositing and withdrawing.
The minimum withdrawal amount is set at $10, but for UnionPay, it is $30 while Bank Wire and Credit/Debit cards have a limit of $100 each.
Opteck’s customer support team can be reached via:
- Live Chat facility.
- “Call Me Back” phone feature
- Email: Either by a direct email sent to service@Opteck.com or via the online form on Opteck’s Contact Us page.