optionFair is an online trading broker that has established itself as one of the formative names in the online binary options world. Owned by Mika Holdings, who are based out of the British Virgin Islands, optionFair have been operating since 2009 and have proven to be one of the fastest growing binary options brokers, by offering a simple to use platform with high payouts that appeals to both novice and advanced traders alike.
The platform itself is one of the clearest and simplest to use, without changing much since its launch in 2009. No download is required which means you can log in from any location and without having to worry whether or not you have administration rights to that PC.
The platform offered by optionFair is smooth and uncomplicated without the clutter of unnecessary charts. You can also customize your charts by selecting the assets only you wish to have on display. This is a particularly useful tool if you are concentrating your trades on just a select few assets and do need the distraction from your asset trading strategy.
optionFair offer trading on mobiles too which means you can trade on the go anywhere and at any time on either a smartphone or an iPhone. As with the regular trading platform; no download is required to trade with a smartphone or an iPhone.
The platform is available in 13 languages.
optionFair cater for all types of trader, from the complete novice to the seasoned trader, in the types of trades offered. It is splint into 3 different areas:
High / Low – Select ‘High’ if you think that the price of an underlying asset at the time of expiry will be higher than the current price. Select ‘Low’ if you think that the price of an underlying asset at the time of expiry will be lower than the current price.
There is also the Above / Below High Yield type of trading in the High / Low platform. Simply decide whether or not the price of an underlying asset will be above or below a target price at the end of the contract expiry and if your prediction is ‘in the money’ you could receive a return of up 250%.
One Touch – Select ‘Touch’ if you think the price of an asset will touch a target price at any time before the option expires. Select ‘No Touch’ if you think the price of an asset will not touch a target price at any time before the option expires.
With the One Touch trading screen, there is also the High Yield touch which offers returns similar to that of the Above / Below High Yield type of trading in the High / Low platform simply by predicting if the price of an underlying asset touches a target price before the contract expiry.
Boundary – Select ‘In’ if you think the price of an asset will close inside the range formed by the upper and lower target prices at the time the option expires. Select ‘Out’ if you think the price of an asset will close outside the range formed by the upper and lower target prices at the time the option expires.
The Boundary platform has a High Yield Boundary method of trading which allows the trader to receive high rewards for predicting whether or not the price of an underlying asset finishes outside a target range of prices.
Recently, optionFair added the 60 second trading type. This a relatively new type of trading which allows a one minute contract expiry, extending further the fast paced nature of binary options trading.
Contract Expiry Times
optionFair have a broad range of contract duration times. From one minute, right through to one week, there are plenty of options for the binary options trader here. optionFair were also one of the first to introduce the close early facility which allows a trader up to 15 minutes before the expiry time to close an open trade to either secure a profit or limit the loss. This benefits those that make multiple trades throughout the day as well as helping those that are new to trading and learning whilst with an added degree of protection. The week long options provide extra appeal for the more advanced traders.
Minimum / Maximum Trade Amounts
The minimum amount a trader can invest on a single asset at optionFair is 25 British Pounds, US Dollars and Euros. The maximum amount that can be invested in a single asset is 15000 British Pounds, US Dollars and Euros. This broad spread of allowable trading amounts makes it popular with both novice and more professional of traders.
Mobile Trading at optionFair:
Making a trade at Optonfair :
optionFair Asset List
optionFair offer a limited but diverse range of underlying assets to trade, split into four categories:
- Euro – US Dollar
- British Pound – US Dollar
- Euro – Japanese Yen
- British Pound – Japanese Yen
- US Dollar – Japanese Yen
- British Pound – Euro
- Australian Dollar – US Dollar
- US Dollar – Canadian Dollar
- Euro – Turkish Lira
- Swiss Franc – US Dollar
- US Dollar – Turkish Lira
- Crude Oil
- British Petroleum PLC (BP)
- Barclays PLC
- Google Inc.
- Apple Inc.
- Telefonica SA
- Societe Generale
- Dow Jones
- Nasdaq Composite
- IBEX- 35
optionFair can certainly hold their head up high with the return percentages on offer. Popular underlying assets like the EUR / USD can present a return if your prediction finishes ‘in the money’ of up to 85%. Even if a prediction end up being ‘out of the money’ you can get up to 15% of your investment amount returned to you.
The returns at optionFair can be as 10 – 30% higher than at other platforms trading the same asset which goes a long way to explaining why optionFair has established itself so quickly in the online binary options trading industry and built up a large and loyal customer base from all around the world.
Minimum Deposit and Payment Methods
OptionFair offer a good minimum deposit level of 200 which can be in US Dollars, Euros or the British Pound There are no limits on the amount a trader can deposit at optionFair. The minimum withdrawal amount is 100 which can be in US Dollars, Euros or the British Pound. Traders have one withdrawal per month that is exempt from commission fee with further withdrawals within the same month being charged a fee of 30 Dollars, Euros or the British Pound per each withdrawal.
As well as having a better than average minimum deposit (there are many platforms whose minimum is 250 or even 500 US Dollars, Euros or the British Pound), optionFair have a solid payment method menu, offering:
– Credit Card – The minimum deposit is 200 USD, EUR, or GBP
– Wire Transfer – The minimum deposit for wire transfer is 500 USD, EUR or GBP
– Western Union – The minimum deposit amount for Western Union 1500 USD, EUR or GBP
– Liberty Reserve – The minimum deposit for all other deposit methods is 200 USD, EUR, or GBP
– MoneyGram – The minimum deposit amount for MoneyGram is 1500 USD, EUR or GBP
– MoneyBookers (Skrill) – The minimum deposit is 200 USD, EUR, or GBP
OptionFair also offer three different account types which offer various features such as higher payouts depending on frequency of trades and deposit amounts.
optionFair Customer Support
Customer Support is offered at optionFair in a number of methods. You can use email, post, fax and telephone as well as using their 24/7 online live chat facility. Support is provided in English, Spanish, French, Arabic and Italian with local telephone numbers provided in each of those languages.
optionFair offer good first deposit bonuses, which, depending on the amount of the initial deposit can range up to 30%.
First Time Deposit Bonus:
- Up to 499 (USD, EUR, or GBP = Receive a bonus of up to 10%
- Between 500-999 USD, EUR, or GBP = Receive a bonus of up to 20%
- Between 1000-5000 USD, EUR, or GBP = Receive a bonus of up to 30%
From time to time optionFair offer some promotions and extra bonuses so it is always worthwhile checking their website to see if anything extra is being offered.
There are a few extra features at optionFair that add real value to its brand and help make it as popular as it is today. Firstly, there is the easy to use trading simulator which takes away much of the fear for newbies about making their first trade. The optionFair trading simulator breaks down the whole trading process into a few easy steps and really shows how easing trading binary options at optionFair actually is.
optionFair also post daily market analysis, helping traders to know what happened in the markets and what’s about to happen. The news and analysis is of a high standard and is certainly comprehensive enough for binary traders to be more informed in their trades.
Pros and Cons
- VIP Account offering even higher returns
- Higher than average payouts
- High Yield Assets
- Easy to use Platform
- Broad Range of Contract Expiry Times
- International Customer Support
- No download required
- No Paypal
- No US traders
- Limited Range of Assets
- No Monthly contract expiry times
Overall, optionFair is one the soundest and most established of all the names in the online binary options industry. It has pioneered much of what is considered the norm in most platforms and still offers some of the highest payouts around. It really is a platform that attracts both novice traders and those that trade for a living by offering a limited but solid range of underlying assets to trade and payouts that can be as much as 30% higher than found on the same asset elsewhere. The refunded returns of up 15% on an ‘out of money’ investment helps reduce the risk for new traders whilst the high yield returns of up to 250% also add appeal.
All in all many new traders will feel at home with optionFair, the high level of customer support and the clear concise trading simulator break down the barriers to trading, whilst customers generally stay with optionFair because of the high returns being offered.