Opteck Review: Scam or Legitimate?
In this video we will be reviewing Opteck – a trading platform for the Binary Options Market. In the past Opteck.com used to be operated by a Belize-based company (so basically operating in the Wild West since 2011) but since October 2014 is operated by a company by the name of CENTRALSPOT TRADING LTD which is authorized and regulated by the Cyprus Securities and Exchange Commission (“CySEC”). Is this good? It’s better than dealing with a non-regulated company, however as we will see many financial companies operating from Cyprus have ‘at best’ dubious reputation and Opteck is one bad apple. Besides Opteck.com they also have Opteck.biz which seems to operate under an irrelevant regulatory license from Belize.
They also work with SignalsXP to provide traders with trade signal alerts. So you sign up for an Opteck account and deposit some monies. After that, you will start receiving binary options signals from Opteck. Sounds great huh? Basically the broker telling you which assets to trade with which underlying assets to trade with which expiry times, and whether to choose call or put options!
To add to all this I’ve stumbled across a number of videos on the internet promoting free trading software like the ‘The Market Buster App’ or ‘Profit from Home System’ that promise a secret algorithm to make unlimited profits using an automated system. Once you register with them they will forward you to register with an account with Opteck! And what happens when you finally deposit the money and lose all of it using their automated software!? You are left on your own and you cannot take any legal actions against the scammers, because it is already stated in the disclaimer that they are not responsible for your actions, and no guarantees are made to you.