Opctec Management – Is It Secure enough to be Trusted?

Website URL: https://opctecmanagement.com/

Founded:  2020

Regulations: Unregulated

Languages: English,

Deposit Methods: Master and Visa cards, Skrill, JCB, Wire transfer, SSL, Neteller, and Yandex

Minimum Deposit: €5000

Free Demo Account: None

Number of Assets: N/A

Types of Assets: Forex, Stocks, Commodities, Indices, Cryptocurrencies, and ETFs

Trading Accounts and Conditions: 

There are four types of trading accounts offered by Opctec Management broker and their conditions are:

• Green Account: with zero spreads, the minimum deposit €5000, leverage level 1:400, and 6% commission.
• Premium Account: with zero spreads, the minimum deposit €10,000, leverage level 1:400, and 6% commission.
• Platinum Account: with zero spreads, the minimum deposit €50,000, leverage level 1:400, and 4% commission.
• Exclusive Account: with zero spreads, the minimum deposit €100,000, leverage level 1:400, and 3% commission.

Opctec Management – Advantages: 

Opctec management offers no incentives or bonuses to its customers.

Opctec Management – Disadvantages:

• An Anonymous and Unregulated Broker: 

Opctec management is not a new broker with anything unique but just another fishy broker with an anonymous website that is offering financial forex services without any authorization. According to the information mentioned on the website of this broker, you can notice two things related to its legal status. Firstly, they have mentioned a Luxembourg address and claim to be based in Luxembourg country. Secondly, in the terms and conditions document it is explained that any kind of dispute will be resolved in the court of law of Sofia, Bulgaria. However, when the registers of Commission de Surveillance du Secteur Financier de Luxembourg and the Financial Supervision Commission of Bulgaria were checked, neither of the databases showed this broker’s name in the list. This is all information that is mentioned on the website. Apart from this, there are no other details available regarding their legal status. Neither any company name nor any contact number is mentioned. So, we can conclude that it is an unregulated and unauthorized fishy entity that is operating anonymously.

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• Low-Quality Trading Platform: 

Opctec management offers a web trader platform to execute the trading activities, which has a very basic trading interface and does not seem safe to use. It does not offer much choice of trading tools and instruments as compared to the metatrader4 or metatrader5, which are more superior and are considered the best trading platforms in the forex industry. The web trader platform offered by Opctec management cannot be compared in any way to the legendary MT4 or MT5 platforms because these platforms provide auto trading options along with a demo account for inexperienced or less experienced traders who want to practice before opening a live account. Moreover, these platforms also feature an app market, a financial calendar, charting options equipped with technical analysis indicators that help to predict the future direction of exchange rates. Hence, it is better to stick with an authentic broker offering legit MT4 or MT5 trading platforms instead.

• High Leverage and Risky Pips: 

Opctec management is offering a leverage level of 1:200 which is very high. Such a high leverage level poses a high risk to the client’s funds and the trader can easily lose their funds instead of earning a profit. However, if you see statistically, 70% out of 100 clients suffer a financial loss when trading with high leverage caps. Whereas, the licensed authentic brokers never offer such high leverages.

In addition to this, when the spread value was calculated from the bid/ask price, it turned out to be 24 pips which is an absolutely huge spread and is above the industry average limits of 0 – 2 pips. Also, such huge spread values prevent the traders to earn a sustainable profit and are never to the trader’s advantage.

• Attractive Bonus Policy Traps:

Opctec management offers trading bonuses with each type of account; it offers which range from 20% to 100%. The scammers call it company credit to mislead the clients, however; you should never believe it as there are no free gifts. This is because the Opctec management has clearly mentioned in its terms and conditions section that the bonuses will not be available for withdrawals unless the client has executed the minimum trade volume of 30 times the deposit amount plus the bonus allotted. Furthermore, these bonuses will mess up the trader’s account and the client will ultimately face problems when withdrawing their funds. A legitimate broker will never offer free gifts or bonuses. It is the only scammer who offers such traps to fleece you off your funds.

• The High Initial Deposit Amount: 

The most basic initial account type called “Green Account” offered by Opctec management requires an initial minimum investment of €5000, which is an excessive amount and shows evidence of a scam.

• Shady Withdrawal Policy:

Opctec management has stated in their terms and conditions section, a “Non-deposited funds clause” related to withdrawals, which typically all the fraudsters include in their deposit/withdrawal policies section or terms and conditions section on the official company website. This clause states that the broker reserves the right to cancel or deny the withdrawal requests if the client has not achieved the minimum trade volume requirement. Later on, the scammers like Opctec management use this clause as an excuse to deny the withdrawal requests.

 Conclusion

Opctec management is an online trading platform, which presents itself as a Luxembourg based forex broker with attractive trading conditions to the traders and supports a web-based trading interface. However, this looks attractive but the reality is just the opposite of it. Opctec management is not more than a scammer. They are unauthorized and are not liable to follow any rules and regulations. It is 100% certain that this broker will fleece off your funds.

Therefore, it is suggested to choose those financial services providers who are licensed under the most reputable and well-known authorities.

Opctec Management

2.5

User Experience

3.3/10

Payment Options

2.2/10

Security

2.3/10

Support

2.2/10

Reputation

2.5/10

Pros

• None

Cons

• An Anonymous and unregulated broker
• Low-quality trading platform
• High leverage and risky pips
• Attractive bonus policy traps
• The high initial deposit amount