Full Review of Opteck Binary Options Education
Once I decide to invest with a broker, there are some things I expect to find: honesty, proper execution of trades, professionalism and in a way, a partner, not just a company that appears to be after my money. After all, they all say they are going to teach the trader how to invest and what to look for when it comes to technical or fundamental analysis; they say they are going to teach about risk management, psychology and all the things that can turn a newbie into a trader. Unfortunately, most of them fail to do what they advertise in terms of education; well, today we are going to look through the magnifying glass at Opteck and see if they do what they promise.
Opteck Education – First Impressions: Neat and Clean
From the first glance, I can see I am dealing with an organized broker with clean, professional and well structured website. Everything is where it’s supposed to be and the education material is easy to find, at the bottom of the page. After all a newbie who lands for the first time on a Binary Broker’s website wouldn’t really know where to look if the educational material is scattered all around the place.
Opteck Education – Basic level: Taking care of the green trader
They start by talking about the history of Binary Options and their evolution from an instrument available to very few individuals to a popular and easy to access online income opportunity. Mostly they talk about the advantages of trading binaries but to be honest, I wouldn’t expect a broker to talk about their drawbacks. The Frequently Asked Questions contain the usual information, not amazing but all the major questions are answered. I couldn’t find a glossary, but I don’t think there’s need for one because most terms are explained in the FAQ section. The “Trading basics” tab contains explanations about Calls and Puts and the conditions they need to fulfill to expire profitable. The use of examples throughout these explanations makes it easy for a newcomer to understand the mechanism behind a Binary trade so overall it’s a good start to the education journey.
Opteck Education – Medium level: Kudos
Once you know the basics about Binary Options, they explain what technical and fundamental analysis is and take you through a series of videos where you will learn more about trading. Unfortunately from the 5 video lessons available, you can only view one if you don’t have an active trading account. By active they mean you should have money deposited. I was a little disappointed by this because the first video lesson was pretty good and I wanted to see more. However, the first lesson is composed of 19 short videos, among which there are some nice quizzes; that’s a good way to recap what you just learned from the videos and it shows they care if the trader understands or not the things they teach.
Although all their educational material has a good quality, the best piece is the e-book. You will have to create an account in order to download it (no deposit required), but believe me, it’s worth it. If you just read the e-book, you will probably learn more than you do from the website and certainly a lot more than the entire education provided by other brokers. When trying to find educational material on a website, sometimes a newbie can have trouble with the order in which he is supposed to read it, even if the material is well structured. Well, this problem is eliminated if you start with the e-book because you have all the information in one place, flowing nicely from the easy stuff to the more complicated things like money management, hedging and price correction. I didn’t want to include the e-book in the “Extra” category because I consider it more than that; it’s the backbone of the education provided by Opteck and kudos to the guy who wrote it.
If you finished going through their “school” but you don’t feel ready yet to trade on your own, their market analysis will definitely be a helping hand. It is posted every day so it’s a reliable source of information and you don’t have to worry about it not being updated. More than that, their market review contains different sections for technical and fundamental analysis so you can only read the one you are interested in but I would recommend them both.
The conclusion – Newbie Approved
When you put all the educational material together, you will have a complex collection of information and I strongly believe that newbies will find a lot of value in Opteck’s education if they take the time to read, understand and learn it all. In the beginning of the article I said we are going to look through the magnifying glass at Opteck; well, they pass with flying colors and from an educational perspective, it looks to me like they try to be a partner for traders and they really put the effort in teaching and guiding them.
That’s not enough! Check out the complete Opteck Review to learn more about this broker.