We'll give a short Opteck review below and count 3 reasons why Saudi Arabian traders only trade with this broker.
1. The Islamic Way to TradeDuring the past 2 years that we've had an Islamic Account with Opteck, we had a chance to speak to some of the broker’s Customer Service experts. We also watched some of their financial specialists in action, through live webinar sessions. It quickly became clear that Opteck is a site designed with the Muslim trader in mind. Why?
• There is no interest involved
• No swap
• Zero rollover commissions
• Platform and educational materials in Arabic
To sum it all up, if you decide to open an Islamic account with Opteck, you are qualifying yourself for a 100% Halal trading account, while having the opportunity to enjoy lightning-fast execution, fixed low-cost spreads and much more.
2. Secure and Regulated Brokerome Saudi traders asked us if there is some kind of Opteck Scam. It's possible that they had picked up some rumours in online forums. We've never had nor encountered a single problem with Opteck or with any of their staff, and are not aware of anybody who has. Opteck is well-established and is regulated under EU law.
If you're nervous about investing online, you can start by making a modest first deposit using an e-wallet service (there is no need to give out your credit card details). Your profits will go straight into your trading account and are ready for immediate reinvestment. If you want to deposit or withdraw funds, you can do so directly through your trading account. The Customer Service expert reps will always be glad to assist you.
Opteck regulations are enforced by the licensing authority CySEC. Even though you are a Saudi trader, your rights are still protected by European law.
• All deposits are held in segregated accounts
• Opteck is subject to strict investment and advertising regulations.
• Opteck guarantees fair, secure and exposure-free trading
• Any trader has recourse to CySEC in case of any unresolved problem
3. Easy OnboardingOpening a trading account with Opteck is as simple as 1,2,3. All you need to do is register with your full name, country, phone number and email address, fund your account and receive live access to the financial markets.
Saudi (and other Muslim) CFD traders can open a free sharia-compliant trading account that completely avoids any haram practices. Just click on the “Islamic Account” link when you register, and you'll be able to complete the process in the standard procedure. Opteck's Islamic Account allow users a full trading experience and a chance to trade CFDs with up to x200 leverage.
You can trade as often as you want (with the same advantages that other traders around the world enjoy) but you'll never be exposed to riba or any unethical financial practices.