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Opteck Scam - Opteck is registered in Cyprus and regulated supposedly by CySec

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I opened an account with this binary options broker and deposited money £850.00p. My intention was to learn how to use it. I was appointed a 'account manager' who applied a 'bonus' that required me to trade a volume to receive a bonus. Not taken with that idea I asked for it to be removed. I was persuaded to add a further £1000 and i did so, because it was explained to me i needed a larger account to be able to trade properly.

After a week or so I understood that in fact binary options was simply gambling, and when trades looked interesting due to price activity the system would not permit me to trade, and so as timing is everything i was unable to use the platform as it purports itself to be.

I used the withdraw function in the trading software to receive back £1000.00 only to receive an email from 'billing' to the effect that I couldn't withdraw funds until it was approved by my account manager! I coudn't remove my own money unless it was permitted by them.

He (my account manager) came on the phone and asked showed me 'how to trade' using ghosting software onto my computer and subsequently lost my £1000 leaving me with a mere £600 on my account! So if an account holder is trying to remove his funds they have a method to prevent this by losing the money in trades.

I have emails and print screens of my funds held on their account, I wish I had recorded the telephone conversations....

Be aware!

Comments

prowse's picture

Opteck.com is also another scam broker. When you wanted to withdraw your profit or close your account (to get your whole money back), they will find ways to deny your right. They will get angry with you. Emails, phone calls and live chats are all falling on their deaf ears. They will not expedite your request. Once you deposit your money with them, don’t ever dream to get back even if it is your profit, what more your own money that you deposited. Take note my friend. I experienced it.

prowse
austin's picture

Opteck is indeed regulated by Cysec but obviously that means nothing because I also had bad experience with these guys and Cysec didn't help me in my situation. I found Opteck from some advertising like "85% profit in 60 seconds" or something like that. I registered an account an some guy called me in a few minutes, he told me I need to deposit minimum $250 for real account and if I want a professional trader to help me I need to deposit at least $2,500. So I was forced to deposit more and I made a second deposit of $1,000 because I know nothing for trading and I needed someone to guide me on the trading platform. I wasn't awarded any training and started trading on my own unfortunately with no success. Then I decided to withdraw the rest of my money. Then an account manager Danny called me and explained that he is a trader at Opteck and saw my withdrawal request. He said his job is to help traders like me to recover their losses and he will show me some winning strategy. That's funny because this Danny made 10 trades and lost 8!!!? Actually he showed me a losing strategy so I was left with almost nothing to withdraw. Now I feel screwed because new traders are promised training to become successful and at the end they trade with your money and lose everything. This is not right!

austin
toydeeney's picture

You should be really naive to believe they will make you profitable trader. Think about that: when you make profit the company like Opteck lose money. They work the same way as casino does. Only when you lose money you can make them happy. And why you start trading real when you know nothing about trading? You can open a demo account and start learning on your own. Brokers won't teach you anything except losing strategies as you said. Don't trust their ads of easy profits ;)

toydeeney
austin's picture

I guess I am really naive.. what can I say.. thanks for the advice. I will open demo account somewhere else.

austin