Optimarkets Review: An Honest Binary Options Broker Review

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Scam Alert:

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):

optimarkets-withdrawal-denied-600
 

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.

Bottom line

I cannot recommend Optimarkets as a binary options broker to anyone because they simply do not seem to be trustworthy.

If however you’re looking for a good and trustworthy broker, try Stockpair or 24option (if you’re from the US then 99binary or Ubinary are your best bet actually).

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.

Overview

Optimarkets Summary
Founded 2012
Normalized profit Up to 95% on standard and 500% on Range
Trading assets Stocks, Forex, Commodities, Indices
Total assets 86
Min. Account size $ 200
Min. Trade size $ 10
Special features Digital, Touch, Range, 60 Seconds, 2 Minutes, 5 Minutes
Trading Platform Tradeologic
Website http://www.optimarkets.com

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.

Customer Service
The support staff is bollocks and nowhere to be found. Clicking the “LIVE CHAT” button brings up a lovely “leave a message” screen.

optimarkets-chat
Now, the response time will greatly depend on the content of the message. If you want to make a deposit and start trading, you’ll get a super fast response. If, on the other hand, you want to make a withdrawal, according to various people I’ve spoken to, you’ll be lucky to get a response at all.

User Interface

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.

Trading Accuracy

Optimarkets-Accuracy test

 

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.

Unique Features

  • 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.

 

Digital
Simply predict if the price of the underlying asset at expiry time will be above or below a predetermined price

Touch
Simply predict if an asset will touch an established price before the expiry time

Range
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.

Summary
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.

Optimarkets Review: An Honest Binary Options Broker Review 0.54/5 (10.77%) 13 votes

14 Responses to “Optimarkets Review: An Honest Binary Options Broker Review”

  1. These guys suck 100%. I gave them $500 and then when I wanted it back they never die give it back. Their website has been down for close to a month. They never answer their phones, nor is there anyway to leave a voice mail. I hope they all burn in hell forever

    Reply
  2. Like Don said all they want to do is take you cash and then they will ignor you flat..not even the live chat works..stay away ban them for good.

    Reply
  3. Stay away. guys are a sham.gave $500. wanted me to take their “free money” but agreement said i would have to trade it like 300 times in order to get my money back so I didn’t take. Asked for my money back and they won’t send it. Complete fraud.

    Reply
  4. I have had similar experience with other brokers. They dragged their feet and shut their eyes and ears until I threatened to dispute the charges. I got my money back in 2 days with sincere apologies.

    Reply
  5. Roy made a call for me and they answered for him. Still will not return my money. definitely a scam.

    Reply
  6. Jorge Tadeo Salcedo Luna

    No puedo entrar a la pagina Web, ni a la plataforma de operaciones. En todos los casos aparece un letrero que dice que no hay acceso y que pronto se abrirá. Pero Cuando?Que está pasando?. Si no pueden arreglar las herramientas para operar, imposible hacer nada. Bebo retirar mis escasos dolares que me quedan en la cuenta. Pero. como hago?
    Jorge Tadeo Salcedo Luna

    Reply
  7. Pretty sure I’m being scammed also … been weeks since I requested a withdrawal of my balance and submitted the required documents and still no refund … better ways to spend that money than give to scammers.

    Reply
  8. richard hannah

    Optimarkets website should be shut down. These people are scammers. I hope whoever runs optimarkets gets a terminal illness and dies painfully, soon.

    Reply
  9. To add to others comments.Three times I have placed trades and then gone away to do other things.On returning I cannot get on the trading platform(keeps giving message that the website is being upgraded and will be available shortly-the last time was over 24 hrs ago and still no trading platform!)Have requested to talk with someone from the company and have received a response that they will be in touch shortly-that was hours ago!I simply cannot use a trading platform that shuts me out-or have I been shut out from their end because they guess that I may request account closure and my cash back?

    Reply
  10. My experience has been anything but positive. In the Turbo trading platform several of my trades has closed in the green meaning a win, but the money is not credited to my account. Worse than that, all my emails go unanswered. There so called on line chat is a joke.

    Reply
  11. Tried to do a withdrawal request for 921.00 and they took another 921.00 of my credit card again, i have been trying to get my 1842.00 back but no response from Optimarkets these people of the scum of the earth. STAY AWAY FROM THIS SITE>>>>>>

    Reply
  12. Anderson

    16 Dec 2013 09:03 $533.00 Rejected
    25 Dec 2013 15:59 $533.00 Rejected
    26 Dec 2013 13:48 $533.00 Rejected
    27 Dec 2013 15:18 $533.00 Rejected
    29 Dec 2013 14:23 $500.00 Pending

    i have no bonus nothing then why cant i withdraw my own money, i dont know how to get back my money from these people. can any one help

    Reply
  13. I can only add that they have not changed the way they operate. Requested a withdrawal, furnished docs, withdrawal was approved BUT going on 2 months waiting for money to be transferred to my bank account. If you are SMART you will stay away from this Broker.

    Reply
  14. Optimarkets are the biggest scumbags out there. They’re not regulated by FCA UK, so those regulators can’t do anything against them. Who can help to bring those swindlers to justice? Who do I have to contact? The Scotland Yard? The MI6? I really am at my wits’ end with them.

    Who can help please?

    If there’re any other traders scummed out of their money, such as myself, let’s unite, hire a lawyer and take those bastards to the Court of Law.
    I’m British myself but live and work in Spain.

    Anyone who’s been scummed by Optimarkets is most welcome to get in touch with me on:
    [email protected]

    Thanks in advance, guys.

    Reply

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