OptionFair | Binary Options Brokers

OptionFair Review

OptionFair
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Overview

Using OptionFair’s software and trading services was simply a great experience for us. It makes everything easier to monitor and much more interesting to use. It takes less than two…

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Details

Broker OptionFair
Website URL http://www.optionfair.com
Founded 2010
Headquarters Ioanni Styliamou 6 2nd Floor, Office 202 2003 Nicosia, Cyprus.
Support Number +44 203 5147067
Support Types Live Chat , Phone , e-Mail , Postal Mail
Languages English , German , Spanish , Arabic , French , Hungarian , Italian , Lithuanian , Romanian , Russian
Trading Platform TechFinancials
Minimum 1st Deposit $250
Minimum Trade Amount $25
Maximum Trade Amount $15,000
Bonus 50% Welcome Bonus
Payout 91%
Free Demo Account Yes
Regulated Yes
Regulation Cyprus Securities Commission (CySec)
Account Types Standard , Silver , Gold , Platinum , VIP
Deposit Methods VISA , VISA Electron , VISA Delta , VISA Co-Branded Cards , MasterCard , MasterCard Debit , Diners Club , JCB , Carte Bleue , Dankort , CartaSi , Lazer , Discover , Maestro , Wire Transfer , Western Union , MoneyGram , Skrill Moneybookers , NETELLER , WebMoney , QIWI , China Union Pay , Abaqoos , iDeal
Withdrawal Methods VISA , VISA Electron , VISA Delta , VISA Co-Branded Cards , MasterCard , MasterCard Debit , Diners Club , JCB , Carte Bleue , Dankort , CartaSi , Lazer , Discover , Maestro , Wire Transfer , Western Union , MoneyGram , Skrill Moneybookers , NETELLER , WebMoney , QIWI , China Union Pay , Abaqoos , iDeal
Trading Methods Browser , Mobile
Number of Assets 72
Expiry Times 60 Sec , 15 Min , 30 Min , 1 Hr , 24 Hr+
Types of Assets Indices , Commodities , Forex , Stocks
Option Types High/Low , Short Term , One Touch , Boundary
Trading Currency EUR , USD , GBP , RUB , HUF
Account Currency EUR , USD , GBP , RUB , HUF
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes
Overall Score 9.8

Screenshots

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Pros

  • CySEC Regulated Broker
  • Forex Trading Service
  • Industry Awards
  • Publicly Traded Binary Options Broker (Part of TechFinancials Inc. Group)
  • Demo Account
  • Trading Signals
  • Comprehensive Trading Academy
  • Rich # of Payment Alternatives

Cons

  • US Traders Are Not Accepted

Full Review

Trustworthy Binary Broker SealUsing OptionFair’s software and trading services was simply a great experience for us. It makes everything easier to monitor and much more interesting to use. It takes less than two days to withdraw funds and the first withdrawal every month is totally free. However, customers from US, Japan and Israel are not accepted. OptionFair had successfully obtained its CySEC license in October 2013. You will find all the details about OptionFair in our review below.

OptionFair Special Features

Traders who are living in the United States are not accepted by OptionFair. On the basis of how much you deposit for the first time, OptionFair grants you a sign-up bonus. If you deposit more than $500, you get four free signals every day for a month.

  • Depositing below $500, users receive a bonus of 20% and an OptionFair Standard account.
  • Depositing between the ranges of $500 – $999, users receive a bonus of 30% and an OptionFair Gold account.
  • Depositing between the ranges of $1000 – $5000, users receive a bonus of 50% and an OptionFair Platinum account.

In case you go for a Platinum account, you are sure to get really high returns on all your investments respectively. On the other hand, the standard account promises a return of 85% which is rather high given the industry standards. With a Platinum account, you may earn returns up to 89%.

VIP traders and affiliates of OptionFair get an “Elite Traders Club Card“, which is basically a MasterCard.

If you deposit more than $500, you get a demo account. It is not necessary for you to trade with your funds at all for you to redeem your demo account. Hence, Option Fair has good intentions of letting you examine their entire system with the help of the demo account before you start to actually trade with your money.

OptionFair YouTube Video Review

OptionFair Trading Software and Assets

OptionFair works on a TechFinancials platform and gives its users the best possible software they have ever experienced in binary options trading. It lets you keep an eye on all your trades with ease on a chart, giving you a complete overview of all your ongoing trades on the right side of the menu. This is something that prevents a lot of memorising and writing down. We really felt thrilled to use the trading platform of OptionFair, and, even more, thrill kicks in when you watch those numbers turn into green and get paid for your investments.

OptionFair has around 60 assets the user can choose from while trading binary options. These include 26 stocks, 12 indices, 3 commodities and 18 different currency pairs, which is quite impressive. Due to so many currency pairs available, forex experts from all around the world can make a lot of profit with each of their moves as they would be able to predict the movements going on in the currency market.

OptionFair Support and Services

As soon as you join OptionFair, you will receive a phone call right away from an account manager. On this call, the account manager gives you a lot of guidance, helping you determine what type of account should you go for on the basis of what needs you have and the amounts of funds you’d like to invest, and other interests and so on.

OptionFair support comes in five languages that include English, Italian, French, Spanish and Arabic.

We have to say that we were not impressed with the live chat feature, however, because the support agent who had responded answered to only one question out of three and closed the chat later on even when the conversation was still going on, asking us basically to search Google for our queries. This did not happen again, however, but we do feel that we should include each and every experience of ours in our review, either good or bad, they all need to be mentioned here.

OptionFair Banking and Company

We used Skrill to deposit our money. However, it did not happen instantly as OptionFair does not support instant deposits and rather uses the send money feature. However, it was close to instant as the money was able to show on our account in about six minutes, and this is pretty acceptable.

As we have already mentioned in the introductory section, Option Fair allows every customer with a free withdrawal every month. This is something we really appreciate because the small traders now do not have to worry about losing some part of their hard earned profits in the form of bank fees.

If you withdraw more than one time a month and possess a standard account, you will have to pay a fee of $30. OptionFair does this in order to cover some of the expenses that the local banks imposes on them as a result of all the bank transfers.

The minimum withdrawal with OptionFair is $100.

This may not be mentioned in the Terms & Conditions section but if you remain inactive on your account for a period of more than six months, your account is considered as a quiescent one. If this happens, you will receive a mail about the same but once the mail is received, you will have to log-in as soon as possible. If you fail to, you will have to re-activate your account and you will be charged a monthly fee of 10%.

Just like it is with the rest of the binary options brokers, you will have to provide OptionFair with a proof of address and a valid photo identification proof in order to verify your identity. This is done so as to remain in compliance with the American Patriot Act that was imposed in October 2001 with an intention to avoid money laundering cases.

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Paul Graber

I was born in Manchester in 1967. I am an Economist with a Ph.D. degree. I have been working in the financial trading industry as a professional since 2003. I am a fan of Manchester United team. I am married and have a little princess.

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