Year Established: 2010
Min. Deposit: $250
|Doesn't Accepts US||Regulation||Payout|
|Up to 79%|
OptionFair is a binary option broker owned by Mika Holdings Inc. incorporated in the British Virgin Islands in 2010. OptionFair is operated out of Cyprus. They use the TechFinancials trading platform.
They are now fully licensed by CySEC and regulated throughout the EU.
Summary of OptionFair Review:
Payout % 79%
Minimum Deposit $250
US Friendly No
Demo Account Yes
Bonus 25% - 50%
Currencies USD, EUR, GBP, JPY
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No. Assets 98
Asset Classes Stocks, Currencies, Commodities, Indices
Trading Features High/Low, Above/Below, One Touch, Boundary, 60 Seconds
Software Platform TechFinancials
Open your FREE account at Option Fair
Customer Service, account deposit and withdrawal were satisfactory. Trading platform is simple and easy to follow. Execution was timely. Had most binary option features except for Double Up and Roll Over. Doesn’t provide expanded trading screen and chart, but does allow you to scroll back on the chart to see earlier time frame.
Particular items which stand out are as follows:
- Early close feature helps to limit risk.
- Asset filter is a really nice feature.
- Bonuses for larger initial deposits.
- High Yield Touch and Boundary options
- Yahoo finance RSS in the trading box.
To open an OptionFair account Click Here.
Assets Available to trade: Assortment of Stocks, Currencies, Commodities and Indices
Currencies Accepted for Deposit: USD, EUR, GBP, JPY
Minimum Deposit Amount: 250USD, EUR, GBP or 20,000 JPY
Deposit Methods: Credit Card, Wire Transfer, MoneyBookers, Western Union, MoneyGram, Liberty Reserve
Withdrawal Time Frame: Up to 3 business days to process request. Withdrawal by credit card can only match original amount charged to card. All profits are sent via wire transfer.
Minimum Investment Amount: 25 USD, EUR, GBP, or 2,000 JPY per option.
Maximum Investment Amount: 1000 USD, EUR, GBP per option.
Support: OptionFair provides a Live Chat in 7 languages from 8:00 – 20:00 Mon-Thurs, 8:00-15:00 Fri. They have phone support in 6 languages.
Demo Account: Offers 72 hour demo with $1000 of demo money.
Bonus Structure: up to $499 + 25%, $500-$999 + 35%, $1000-$5000 +50% with $1500 cap. One bonus per account and only on 1st time deposit.
Trading and Features:
Opening the OptionFair home page takes you to a sign up page and what they call a Trading SImulator where they demonstrate the different trading choices they offer.
When you log into the account you are taken to the trading platform:
The Trading Screen displays 3 trading Tabs: High/Low, One Touch, Boundary
Standard Call/Put trades. Default trade screen displays an assortment of High/Low options. Trader can select Indices, Forex, Stocks and Commodities by clicking the corresponding link. There is also a dropdown menu to choose from a list of all the available assets.
Trader can choose whether asset will touch a certain price in a given time period or not touch a certain price within a given time frame.
OptionFair offers 2 types of One Touch Binary Options:
- Touch/No Touch– Trader can choose whether asset will touch or not touch certain price.
- High Yield Touch– Provides returns of 200-350% if asset touches given price.
OptionFair offers 2 types of Boundary Binary Options as well:
- Boundary– Trader can choose whether asset trade inside or outside of a given price range.
- High Yield Boundary– Provides returns of 200-350% if asset trades outside of a given price range.
From the filter screen trader can select specific assets from the different asset classes that he wants to follow and they will be displayed on the trade screen.
OptionFair offers a selection of 60 second binary options which are listed on the High/Low trading screen. 60 Second Binary options are the same as standard High/Low Options except that they expire in 60 seconds.
How to Trade on OptionFair
Select High or Low enter investment amount and click Buy to execute trade. Open Trade box shows your positions:
Closable Postions: Certain positions allow for closing a position before the expiry time. A fee is charged for closing early.
In the above example trader can close the position before the expiry time. He pays a fee of $6.70 in this case, but protects the balance of investment if he feels trade will close against him at expiration.
To further explore the OptionFair trading platform or to open an account Click Here.