OptionFair broker review
Since its foundation in early 2010 OptionFair is seen as one of the leading binary option brokers. The trading platform of OptionFair is designed for both novice and experienced binary option traders. OptionFair offers a wide range of educational materials. New traders get a bonus of 5 risk-free trades… continue reading
Broker information
| Broker | OptionFair |
|---|---|
| Website link | http://www.optionfair.com |
| Founded in the year | 2010 |
| Main office based in | Nicosia, Cyprus |
| Contact possibilities | Phone, Fax, Live Chat, Email: customercare@optionfair.com |
| Available languages |
English, Italiano, Lietuviškai, العربية, Deutsch, Nederlands, Español, Polski, Français, Pyccĸий, Română |
| Trading platform | Android App, Iphone App, Ipad App, Webtrader, Windows Trader |
| Minimum first deposit | €250 |
| Minimum amount traded | €25 |
| Maximum amount traded | €5,000 |
| Welcome bonus | 5 risk-free trades |
| Pay out information | 85% – VIP 89% |
| Leverage | Not applicable to binary options |
| Spread | Not applicable to binary options |
| Demo account | Click to open a Demo account |
| Regulated |  |
| Regulated by | Regulated by CYSEC (Cyprus Securities and Exchange Commission) |
| Extra fees information | First withdrawal each month is free, then $30 per withdrawal |
| Available accounts | Standard, Silver, Gold, Platinum, VIP, and a demo account |
| Methods of deposit | iDeal, Banktransfer, Visa, MasterCard, Neteller, Skrill/Moneybookers, Western Union, MoneyGram, Qiwi, Union Pay, JCB, Abaqoos, Webmoney |
| Methods of withdrawal | iDeal, Banktransfer, Visa, MasterCard, Neteller, Skrill/Moneybookers, Western Union, MoneyGram, Qiwi, Union Pay, JCB, Abaqoos, Webmoney |
| Number of tradable Assets | 1000+ |
| Types of tradable assets | Trade options on Forex, commodities, indices, and stocks with IQ Option |
| Option types | Short term options, high/low options, One Touch options, Boundary options |
| Expiration times | 60 seconds, 2 minutes, 5 minutes, longer expiration times possible as well |
| US traders allowed |  |
| Trading on smartphone | |
| Trading on tablet | |
| Broker Score | 8.9 |
Complete Review
OptionFair company information
Since its foundation in early 2010 OptionFair is seen as one of the leading binary option brokers. Although this company seems new to the market, they certainly are not. The employees of OptionFair are all experts with years of experience in trading on the financial markets. Although the financial markets are becoming more and more complicated, OptionFair tries to make and keep trading binary options as simple as possible with their easy-to-understand binary option trading platform.
The brand Option Fair is owned by Mika Holdings Inc, a company based in the British Virgin Islands. The shareholders of the holding company are all individuals with years of experience on the stock market. Contacting OptionFair can be done via different ways; telephone, fax, email or live chat. This information can be found in the information table above, or on the website of OptionFair.
OptionFair trading platform
The trading platform of OptionFair is designed for both novice and experienced binary option traders but focuses mainly on new entrants to the binary options market. This is clearly visible by the simplistic design of the trading platform. OptionFair also offers a range of educational materials for new binary options traders. Think of videos, seminars, personal account managers and 1 on 1 courses.
With OptionFair traders can buy or sell three different types of options. The standard up high/low options, Boundary Options and One Touch / No Touch options, which can pay up to 350%. In contrast with many other binary option brokers, at OptionFair it is possible to close positions before their expiration point. In that case you get paid a lower percentage or in case of a losing trade, you receive a small percentage in the form of cashback.
To help traders make better decisions OptionFair provides daily Market Highlights and analysis. This saves a lot of time and searching effort on the Internet to find the latest news. Last but not least, OptionFair has designed a very decent app, allowing traders to trade everywhere with their tablet or Smartphone.
OptionFair account types and banking
As mentioned previously, OptionFair is aware of the fact that they have different types of investors and day traders. Hence, several different account types are available. The Standard account is for new binary options traders requiring a minimum initial deposit of only 250 Euros. The other account types; from Silver to VIP are for more experienced binary options traders. They pay more per option and provide access to additional features. However, these types of accounts require higher deposits.
OptionFair payouts
The payout percentage at OptionFair is quite high on high/low options: 85%. Binary options traders with a VIP account receive an even higher percentage on normal high/low options: 89%. On One Touch / No Touch options, the payout can be enormous; up to 350%. In case of unsuccessful transactions, binary options traders get 10% of their investment back in the form of a cashback.
OptionFair review conclusion
Personally, I see OptionFair as one of the more beautiful binary option platforms. I use OptionFair myself because apart from binary options, you can also trade stocks, commodities and currency CFDs. A great benefit of OptionFair is that it focuses primarily on new binary options traders and therefore offers a huge amount of educational material. The initial minimum deposit of 250 Euros is slightly higher compared to other binary option brokers. The welcome bonus of 5 risk free trades is very nice and is basically the same as a 100% first deposit bonus. With support available in many languages, the trading platform available in many languages, and the ability to deposit and withdraw via various methods, OptionFair is an excellent choice for novice binary options traders.
Advantages
- User friendly trading software and website
- Trade Forex and Binary options on the same platform
- Easy deposit and withdrawal via Paypal, Skrill (Moneybookers), creditcard and iDeal
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