Option Fair Review

Overview

OptionFair is an innovative binary options trading platform provider operated by B.O. TradeFinancials, a company located in, and operating from, the Republic of Cyprus with globally situated branches. B.O. TradeFinancials… more

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Details

Broker Option Fair
Website URL http://www.optionfair.com
Headquarters Cyprus
Support Number +357 25 503 232
Languages English, Spanish, German, French, Russian, Italian, Portuguese, Arabic, Turkish
Minimum 1st Deposit $200
Payout 89%
Free Demo Account No
Account Types Standard, Silver, Gold, Platinum, VIP
Deposit Methods Amex, Visa, Mastercard, Western Union, Wire Transfer, Skrill
US Traders Allowed No
Overall Score

Full Review

OptionFair is an innovative binary options trading platform provider operated by B.O. TradeFinancials, a company located in, and operating from, the Republic of Cyprus with globally situated branches.

B.O. TradeFinancials is owned and managed by an experienced and knowledgeable team of finance professionals who have specialized in online trading with binary options, commodities, stocks, indices and Forex.

OptionFair’s trading platform, website design, and overall service makes it a popular destination for traders of all levels.  Upon visiting the OptionFair website users will notice the crisp, clean layout of the homepage.  It has the sophisticated elegance of a Madison Avenue boutique with the form and functionality to rival any binary options trading platform.

OptionFair is all about providing its traders with plenty of options, literally and figuratively.  Its vast selection of assets and option types with variable expiry times will keep busy even the most active trader.

Assets & Expiry Time
If you’ve had a glance at the list of tradable financial assets, you’ll quickly see that OptionFair has one big obvious disadvantage over its competitors – you can only trade 37 assets in total: 9 stocks, 12 currencies (forex) 13 indices and 3 commodities . So be sure, before you sign up for that 89% return, that the asset you want to make your financial bet on is on the list. As mentioned above, OptionFair specialise in short term trades, including 60 seconds, constantly changing, but you can find longer trades if you want. However expect trades of longer than a couple of days to be the exception rather than the rule.

Profit & Returns
Every binary option platform has that golden nugget that makes it stand out from the rest. For OptionFair, this is undoubtedly the averagely-high effective return for In-The-Money wins, with a range of 70% to the incredible 89%.
That makes the average return 80%, an incredibly high figure in the financial trading world.The Out-of-Money refund isn’t consistent and not always offered, but when it is, it can be as high as 15%, making OptionFair one of the most profitable platforms around

Deposit & Withdrawal
Minimum deposit is a little high in our books, but also fairly average for the industry, at 250 USD/EUR, although this increases dramatically if you deposit via wire transfer (500 USD) or Western Union or Moneygram (1,500 USD).
So we recommend you use your Credit and Debit Cards, Liberty Reserve or Skrill accounts. There are no fees or commissions on first deposits or purchases.

There is no maximum withdrawal limit for OptionFair and they boast to be able to process these within 36 hours (for verified accounts) to 5 days. These will usually be given back via the method deposited and the first time you do, you will be asked for proof of identity. There is no minimum withdrawal limit for credit cards, liberty reserve or Skrill accounts, but any other method chosen, including wire transfer, is a minimum of 100 USD/EUR. However if the value of the withdrawal exceeds the initial amount, the rest of the money will be sent via wire-transfer.

You get one free withdrawal transaction a month, any more and OptionFair charge a 30$ fee for the privilege.

Customer Support
The website is available in 13 different languages, but only English, Italian, Spanish, Arabic and French are available over the phone in local languages. Based out of Cyprus, they have an excellent Live Chat service available and from experience they are very quick to answer any issues over email.

However be aware that they are a weekday, 9 to 5 type of company. If you want to talk to someone at midnight on a Wednesday, you’re better off sending an email and waiting for a morning response.

Mobile Trading
OptionFair unlike many other brokers don’t offer a native iPhone or Android app but offer a mobile web based version of their platform. Their mobile version simplifies the look and feel whilst continuing to provide you, the trader with all the features of its desktop counterpart. Scan through assets, choose your instrument type along with the direction and your price before hitting the buy button to open your trade. It has an easy to use interface with large clickable areas so you never hit the wrong one.

Free Financial Tools & Features
Registration is free, and once you do, you can simply ask support for your free eBook detailing how to start trading and recognise trends. A nice read for beginners. They will also provide you with background information on all traded assets and graphs showing historical data, as well as a comprehensive Trader Centre, giving you daily market analysis figures and a comprehensive glossary and overview of their system.

However these are all fairly standard requirements of any binary option broker, so the question is, what do they provide extra? We like the ‘Early Closure’ feature which allows you to take your financial wagering out early to minimize your risk if you know it won’t be In-The-Money at the time you had originally predicted. But what really makes this system stand out is that other than the traditional Call/Put trading, you can also do ‘One Touch Option’ and ‘Boundary Option’, giving you greater flexibility in your binary options trading. One-Touch simply allows you to pick a point, whether high or low, which you think a certain value will simply ‘touch’ any any point before the expiration date. Whilst Boundary-Option might give you the lowest return on this platform (still a hefty 70%) but it allows you to have a wider range, with you deciding two points at which the trade will fall under. It’s a great option for online traders.

In addition OptionFair provides Real Live Quotes from Saxo Bank and Leverate and the charts and information about each asset are from Yahoo! Finance, a trusted third party.

OptionFair.com Binary Options Broker Video Review

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