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Opteck Fees and Spreads

Opteck Fees and Spreads

 

 

Overall Rating

4.6/5

Rated #490 of 
Recommended FX Brokers

💰Minimum Deposit

USD 250

🌐 Regulators

CySEC

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Opteck does not charge a commission fee with spreads from 0.3 pips.

Opteck doesn’t charge any account or deposit fees, while withdrawal is fees are charged. Opteck does not document any inactivity fee.

Finding a reputable list about Opteck Fees and Spreads local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source.

Below is an in-depth Fees and Spreads review regarding this regulated Forex Company, which will assist traders and allow traders to invest in their currency.

 

Fees and Spreads

Opteck spreads start from 0.3 pips depending on the account.

The spread list and fee schedule which is offered by Opteck are transparent as well as competitive. Traders can take advantage of the fact that Opteck does not charge commissions on trades.

Other than this information, there are no other fees relating specifically to fees and spreads. However, traders are urged to confirm this with Opteck as conditions may have changed since the time of writing.

 

Additional Trading Fees

When trading financial instruments such as forex, traders can often expect that overnight fees or swap fees will be charged when positions are held for longer than a trading day.

When short positions are held overnight will be credited with swaps as opposed to long positions which are debited with swaps. Brokers often calculate swaps according to several factors, one of which is a one-month interbank rate.

For more information on the swaps that traders can expect, traders can consult the Opteck website. The broker makes adequate provision, where forex is concerned, to supply a breakdown of each forex pair and the swap long and swap short rates in pips.

Opteck makes provision for an Islamic Account for Muslim traders who follow the Sharia Law, and thus prohibited from earning or paying interest where the holding of open positions is concerned.

Opteck does offer spread betting and thus spread betting fees apply.

 

Overall Rating

4.6/5

Rated #490 of 
Recommended FX Brokers

💰Minimum Deposit

USD 250

🌐 Regulators

CySEC

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Broker Fees

Opteck charges withdrawal fees of 3.5% but does not charge any deposit fees.

When making either deposits or withdrawals, traders can make use of any of the following payment methods:

  • Credit/Debit card
  • Bank Wire Transfer
  • Skrill
  • Neteller
  • Western Union

Traders also need to ensure that they verify additional charges which may be waived by their financial institution. In addition, traders may be subjected to currency conversion fees should they transfer fees in a currency that is different from their account base currency.

 

Pros and Cons

✔️ PROS ❌ CONS
Competitive trading conditions No South African clients
Islamic account No US clients
Segregation of funds for clients
Well Regulated
Wide variety of accounts

 

You might also like: Opteck Minimum Deposit

You might also like: Opteck Demo Account

You might also like: Opteck Sign up Bonus

You might also like: Opteck Account types

You might also like: Opteck Islamic Account

 

FAQ’s

 

How many instruments can I trade with Opteck?

You can trade the following financial instruments:

  • CFDs on forex
  • Stocks
  • Commodities
  • Indices

 

Which platforms are supported by Opteck?

Opteck Web Trader.

 

Does Opteck offer leverage?

Yes, Opteck offers maximum leverage of 1:400.

 

What spreads can I expect with Opteck?

You can expect spreads of 0.3 pips depending on what account you choose. The Islamic account, however, seems to have the same spreads depending on the financial instrument and several other factors.

 

Does Opteck charge commission?

No, Opteck does not charge commission. It is unclear whether Islamic account holders are subjected to the same commission charges. Traders must verify this information with the broker as it is not stated on the website.

 

Is Opteck regulated?

Yes, Opteck is regulated by CySEC.

 

Is Opteck a recommended forex trading broker for experts and beginners?

Yes. Opteck caters to both beginners and experts.

 

What is the overall rating out of 10 for Opteck?

6/10.

 

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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