Launched on 12th December 2012, Optimarkets is the latest newcomer to the binary options brokerage industry. The web based trading platform is owned by a company called Lerwick Capital based in the British Virgin Island (BVI).
Aimed at both newcomers and experienced traders, OptiMarkets offers a convenient way for investors to profit from the rapidly expanding binary option market.
According to a senior company spokesperson, OptiMarkets focuses on the goal to make the company “the first choice as the place to go for a binary options trading platform,” and will not rest on its laurels but seek to “strive to improve upon what is already an excellent product.”
As mentioned earlier, OptiMarkets trading platform is web based. This makes it easy to operate as there are no downloads required in order to access the market. The interface is well designed to give users easy and unhindered access to all the main trading functionalities.
For example, if you want to open up a trading account, the registration icon is located in plain view on the right side of the homepage. I find that the trading simulator is a nice touch as it gives newcomers a sense of what is in store for them if they sign up to trade with OptiMarkets.
Available assets for trading can be viewed in three (3) different format, Multi- view (as shown above), Classic view or Chart view. Each type of view has its own plus and minus point. Nevertheless, OptiMarkets gives their clients the choice to decide on the type of views they want as they can recognize that “One man’s meat is another man’s poison”.
Types of Trades
At OptiMarkets, traders have the choice to trade in five (5) different classes of options.
60 Seconds Options
This type of options allows traders to profit quickly in the market. Trades, like the name suggests, expire in one minute.
Digital option, or plainly just “binary option”, is the most popular type of binary options traded. Here, traders just need to forecast if the strike price of the underlying asset will expire above or below a predetermined price.
For range options, traders will need to predict if the strike price at expiration will fall within or outside a predetermined price range.
With touch options, traders need to forecast if the strike price of the underlying asset will ‘touch’ a predetermined price at expiration.
One Touch trading
Trading Platform Additional Features
OptiMarkets’ trading platform also features a couple of additional functionalities that are normally not found on other competing trading platforms. With the “Close Now” feature, traders have the choice to liquidate their market position before the expiry time of the asset. This feature is extremely useful especially when you want to lock in your profits.
The “Roll Over” feature allows traders to roll over their trade over to the next expiry period. This gives traders another chance to profit by letting time turn a less advantageous situation around.
The live market feed from Reuters is also another neat little tool. With the feed, traders can be constantly kept abreast of changes in prices of the assets that are available for trading.
To open a trading account at OptiMarkets, you don’t need to deposit any money. Only a simple registration is required. Trading accounts can be based on four (4) different types of currencies, the Australian Dollars, the British Pound, the Euro or the US Dollars.
Returns for successful trades depend on the type of asset traded as well as the classes of trades. They are said to range from 75% to 89%. However, I have seen certain trading opportunities which offer returns as high as 181%!
Although OptiMarkets is just a new player in the market, traders are still able to deal in binary options based on Commodities, Currencies, Equities or Indices.
The number of underlying assets that they offer to their clients is actually quite satisfactory. The following list below is the current range of assets that traders can trade in.
Apple Boeing Coca-Cola Exxon Mobil Google ING Group McDonald’s Microsoft Nike Vodafone
For any internet based operation, reliability is always a big concern. Hence, to give their clients peace of mind, OptiMarkets have committed themselves to achieving the highest possible level of data security. The trading system integrity is bolstered through the following means:
128bit SSL Encrypted Communications
Firewall To Prevent Unauthorized Access
Periodic Security Checks by IT Security Specialists
Recording Of All Activities on the System
With regards to their clients’ funds, OptiMarkets currently only deal with major credit cards processors like VISA, MasterCard and American Express. Wire transfer is also a supported method of fund transfer. Hopefully in the near future OptiMarkets will be able to support major online payment processors like Money Bookers and WebMoney as well.
Currently, the OptiMarkets website is only available in English. Nevertheless, the company seems to be taking proactive measures to find out what are their clients language preferences by asking them for feedback.
For technical support, traders can contact the support team by Live Chat or emailing them at firstname.lastname@example.org. Telephone support with localized numbers is available for certain countries like UK (UK: 44-203-3933599), U.S (1-917-3412887), Canada (1-647-4959690), South Africa (27-21-3001796), Australia (61-39-9997306) and New Zealand (64-9-2804746).
In retrospect, there are many reasons to want to deal with OptiMarkets. Some of them are:
Comprehensive Training Tools
Easy To Operate Trading Platform
High Security Standards
Live Feed From Reuters
Market Analysis Provided
Top-Notch Customer Support Team
Wide Range Of Trading Tools
Being a newly established operation, it’s not surprising to find some areas of OptiMarkets trading platform is lacking. Some of these include:
Limited asset list (No doubt, this list will be expanded in the near future)
No multi-lingual support on the website
No support for online payment processors
In conclusion, although there are some aspects of OptiMarkets trading platform which can be further improved upon; overall there are more pluses than minuses with their trading platform. As their spokesperson said in their press release, they will “strive to improve upon what is already an excellent product.”