There have been many complaints recently from traders that have requested withdrawals and have been blatantly refused by Optimarkets without any reason or explanation.
I actually contacted one of these traders and tried to confirm the situation, as many times traders tend to take bonuses without reading the fineprint and then find their money tied up with bloated trading volume requirements.
This is not the case here however. It would seem that Thomas, in this case deposited $500 and did not accept any bonuses. After trading for a while, he started requesting withdrawal of his remaining funds, only to be either completely ignored, or worse – receive this email (he forwarded it to me):
I tried contacting Optimarkets to get a comment. They said they’d handle this and make sure Thomas gets his money, but have yet to do anything during the last 2 weeks since I asked. He’s actually gotten more of the above emails since they said they’d “handle it”.
Update: Over a month since I posted the above comments and Thomas says that he still has not received his funds. This confirms that Optimarkets is a complete scam and should be avoided at all costs
I have an account with Optimarkets and in light of the recent comments decided to try and get my money as well. Guess what, no dice. I’m still waiting for my $350.
I cannot recommend Optimarkets as a binary options broker to anyone because they simply do not seem to be trustworthy.
The following is a technical review of Optimarket’s trading platform. It is merely technical for educational purposes and in no way means that we recommend using this broker.
|Normalized profit||Up to 95% on standard and 500% on Range|
|Trading assets||Stocks, Forex, Commodities, Indices|
|Min. Account size||$ 200|
|Min. Trade size||$ 10|
|Special features||Digital, Touch, Range, 60 Seconds, 2 Minutes, 5 Minutes|
Optimarkets is owned and operated by Thanks,Lerwick Capital Ltd (BVI). And started operations during 2012.
Optimarkets offers a diverse asset index including commodities, stocks, Forex, and Indices. It is particularly important to mention that this broker offers trading during the weekend including Sunday on a variety of stocks and currencies.
- 12 FOREX Currency pairs
- 6 Commodities
- 10 Indices
- 68 stocks in various markets including Nasdaq and the European Markets
Registering an Account
Signing up is simple. There are about 5 fields you need to fill out and you can start executing trades immediately right after you deposit.
The support staff is bollocks and nowhere to be found. Clicking the “LIVE CHAT” button brings up a lovely “leave a message” screen.
The interface is very intuitive and user-friendly. It provides you with everything and anything your need to start trading at the click of a button. It’s particularly friendly on the contract information display, where you would see the contract expiration time and date, investment amount, and the details of the underlying asset.
Main Trading Page
The main trading area has 4 tabs and allows you to alternate between the options & assets very quickly. In other words, you can buy a call options on copper for example, and immediately move on and start buying or selling positions on AUD/USD or Cisco for example. Turbo options are a new feature and are considered to be especially interesting. Simply click the 60 second options tab and you will find the breakdown.
Like always, I decided to do some testing on the accuracy of the stock quotes in the trading system. All in all, taking into account that the platform is web-based, it is extremely accurate when compared to my live level 2 trading software. Stock quotes were always within 1% of the (ask+bid)/2 and never leaned towards any particular direction, regardless of whether I was entering a call or put option. While 1% is by no means good, it’s not the end of the world.
- 2 & 5 Minute Options: The same as 60 seconds but for different time intervals.
- Extend – Close a trade early or later than the contract
- Automatic trading – Trade in an automated fashion at the click of a button.
Simply predict if the price of the underlying asset at expiry time will be above or below a predetermined price
Simply predict if an asset will touch an established price before the expiry time
Predict if the price of an underlying asset will be inside or outside an established price range at the expiry time.
60 Seconds (Including 2 & 5 Minute Options)
The same as digital, only in a fast-paced trading environment.
Payouts and Commissions
Pretty much irrelevant since from all the reports I’m hearing, you won’t be able to withdraw your funds anyway.
If you’re in good contacts with your credit card company, then give Optimarkets a shot, since you’ll most likely need to do file a dispute with the CC company if you want to see your money again after you deposit.