Is Optionfair a reliable binary broker

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Options Broker 2020!
    Good Choice for Beginners!
    Free Trading Education, Free Demo Account!
    Get a Sign-Up Bonus Now!

  • Binomo
    Binomo

    2nd in our ranking!

OptionFair

OptionFair ceased trading in February 2020

OptionFair is the binary options service of Finopex Group. They welcome traders from all over the world except the United States. OptionFair has the distinction of being one of the first to introduce a mobile version of the binary trading platform, allowing users to trade on their smartphones.

Trading Platform

Bonuses and Promotions

Account opening bonuses are awarded to first-time traders on their platform. Periodic promotions are held as well. The amounts given out in bonuses vary and are arranged for each customer by the account officers.

Account Information

Account opening balance typically starts from $200, but traders can actually start trading with as little as $100 in their accounts. OptionFair augments this with a generous bonus of 10-30%. Minimum trade amount is $10, and traders can operate accounts in US Dollars and Euros. Account opening is an online affair, after which traders are required to send supporting documents to Optionfair.com.

Trading Requirements

OptionFair has a vast array of electronic funding and withdrawal options such as Liberty Reserve, UKash, CashU, Skrill, credit/debit cards from almost every major card processing company you can think of.

OptionFair has the distinction of having developed advanced pricing algorithms that allow some of the most competitive pricing in binary options, and permits traders to trade on both sides of the asset. If you call them the equivalent of ECN brokers in forex, you would not be wrong. The range of assets that can be traded is unparalleled. Traders can make as much as 85% on every trade.

Platforms Featured and Markets Offered

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Options Broker 2020!
    Good Choice for Beginners!
    Free Trading Education, Free Demo Account!
    Get a Sign-Up Bonus Now!

  • Binomo
    Binomo

    2nd in our ranking!

The trading platform is a web-based platform that is easy to use and has been simplified for even novices to use without difficulty. One feature of this platform is the availability of an interactive chart for every asset listed for trading. As mentioned earlier, a mobile trading platform for use on smartphones exists, taking away the restrictions of trading with a PC. Assets traded are as follows:

1) Currencies: EURUSD, USDCHF, USDJPY, AUDUSD, GBPUSD and the Yen crosses.

2) Stocks: Telefonica SA, Lloyds, Vodafone, Apple, Google, BP, Barclays

3) Commodities: gold and silver.

4) Stock index futures such as the IBEX, DJ30, NASDAQ100, FTSE100 and Xetra Dax.

The asset index is a lot broader than what has been listed above. A more comprehensive list is available when traders open accounts. Traders can trade the following types on the web-based trading platform.

b) Touch/No Touch Options:

c) Boundary Options: Traders are able to trade the In/Out options with OptionFair.

Traders also have the option of using the option builder to choose the assets that they can trade.

Customer Service

OptionFair has a customer support that is way ahead of its peers. Users to the support section are initially presented with a Frequently Asked Questions section, which addresses basic questions about binary options and their services. At the next level, traders can contact the multi-lingual support team via phone, email, or live chat. The customer support is very robust.

Is Option Fair a Scam?

OptionFair is a binary options trading brokerage registered in the British Virgin Islands and operates out of Cyprus. The brokerage, one of the finest in the industry, came into existence in 2020 and is said to be managed by a group of highly experienced professionals from the financial industry. They are regulated by the prominent regulatory body in the binary options industry, the Cyprus Securities and Exchange Commission. OptionFair has involved itself in a number of innovations since 2020 and has been successful in diversifying their product portfolio. In addition to this, they offer several different secure options to safeguard your transactions.

Final Word

It is an arguable fact that OptionFair ranks among the best three binary options brokers in the world. Their competitive pricing structure, payout system, wide array of funding and withdrawal options and robust customer support make them one of the most sought-after brokers. Most reviews you will get from traders who have used this service are positive. Until date, there have been no reports of traders encountering some of the problems that are commonplace with certain brokers. This is a good broker to trade binary options with.

Optionfair Review

Summary

OptionFair offers a highly regulated binary options product and has a reliable portfolio of services. As is the case with all established brokerages, there are a few drawbacks, but none of them contributes to being a deal breaker as far as investing and trading binary options with OptionFair is concerned.

Introduction To OptionFair Trading Review

Trading with a regulated and licensed binary options broker does have its premier advantages. Safety of funds is paramount to every investor, and there isn’t a single trader in the world that isn’t worried about the implications of investing their trading capital in a fraudulent company. Profits in binary options trading are not only dependent on a sound knowledge of the market practices and a profitable trading system, but it also depends on the reliability of the binary options broker.

OptionFair is an established binary options broker that has several advantages that are conducive to safe and reliable binary options trading. In the financial markets, OptionFair has earned a positive reputation that is garnered primarily through a reliable trading service. There are areas where OptionFair can improve its products to suit the requirements of modern traders better, but overall, OptionFair does stay true to its guarantees of providing an authentic service. Our comprehensive OptionFair broker review should be able to serve as an excellent guideline for traders and investors who wish to understand the benefits and drawbacks of OptionFair before investing.

OptionFair Company & Licensing Details

OptionFair is a regulated binary options broker and is one of the very few in the markets that are actually recognised by a credible regulatory agency. OptionFair has its official headquarters in Cyprus and is regulated by the Cyprus Securities and Exchange Commission (CySEC). OptionFair is regulated by the CySEC under its parent organisation, known as B.O. TradeFinancials. B.O.TradeFinancials has two branches operating in Cyprus, with its registered headquarters operating out of Nicosia and its operations centre operating out of Limassol.

According to the CySEC regulatory policies, OptionFair should satisfy minimum capital requirements and is expected to submit periodic audit reports to ensure financial transparency. All traders’ funds are kept in segregated accounts and are protected through the Investor Compensation Fund (ICF) that promises to reimburse traders up to €20,000 in the case of broker insolvency. Hence, OptionFair is indeed one of the more credible and genuine binary options brokerages that provide a robust trading environment that is devoid of any financial malpractices.

Tradable Assets At OptionFair

There is a choice of around 130 different financial instruments at OptionFair, which is considered to be at par with the standard list of assets provided by leading binary options brokers. Although OptionFair manages to offer a varied instrument list, there may be instances when established traders might require access to a diverse choice of options, especially when it comes to trading Pairs and futures. Nevertheless, traders can expect to cover some of the major financial markets by trading in instruments that range from FX currency pairs, commodities, indices, and stocks. Here is a list of all the underlying assets provided by the company:

FX Pairs: EUR/USD, GBP/USD, EUR/JPY, USD/JPY, GBP/JPY, EUR/GBP, EUR/CHF, AUD/CHF, EUR/AUD, GBP/AUD, NZD/CHF, GBP/CAD, AUD/USD, USD/CAD, USD/TRY, EUR/TRY, AUD/NZD, CHF/JPY, GBP/CHF, CAD/CHF, USD/MXN, GBP/ZAR, AUD/CAD, USD/HUF, Bitcoin/USD, US Dollar Index, USD/BRL, AUD/JPY, CAD/JPY, EUR/CAD, EUR/NOK, EUR/ZAR, NZD/USD, USD/CHF, USD/NOK, USD/ZAR, USD/RUB

Commodities: Brent Oil, Gold, Silver, Platinum, Gold/JPY, Gold/EUR, Gold/Silver

Indices: DOW Jones, S&P 500, Nasdaq 100, BOVESPA, CAC 40-Future, IBEX 35, MIB 40- Future, SMI- Future, DAX 30- Future, FTSE 100- Future, IBEX- Future, BUX, MICEX, RTS Index, Nifty- Future, ASX 200-Future, Hang Seng Future, Nikkei 225-Future, TOPIX500, Bombay- 30, TA-25, TADAWUL, DUBAI, Kuwait Index, Qatar Index, Oman Index, South Africa 40 – Future

Stocks: Vodafone, BP, Telefonica, Orange France, BNP Paribas, AXA, Societe General, FIAT, BBVA, Gazprom, Renault, Sberbank, Tesco, Royal Dutch Shell plc, Samsung Electronics, Barclays, OTP Bank, MOL PLC, NK Lukoil OAO, Richter, Enel, Azimut Holding, Telecom Italia, HSBC, Adidas, Volkswagen, Siemens, PAO Severstal, Norilsk Nickel PAO, Google, Apple, Coca Cola, JPMorgan Chase, McDonalds, Microsoft, Cisco, Intel, Amazon, Yahoo, EBay, Pfizer, IBM, NIKE, EXXON, Citigroup, Amex, Baidu, Facebook, Netflix, Priceline, Disney, Gold Corp, Silver Wheaton, Goldman Sachs, Twitter, Boeing, Tesla, Visa, MasterCard, Alibaba, Pepsi, Honda Motors, Ferrari, GoPro, PayPal, Herbalife, Sony, Sumitomo, Toyota, Tata Motors LTD, ICICI Bank, Samsung, Anz, BHP Billiton, Westpac Banking, Rio Tinto

We would have certainly preferred the broker to provide a few more stocks and commodities, and it would have been an excellent idea for the broker to have provided Pairs and other unique options. We really don’t feel that the number of financial assets to be lacking in any aspects, and the instruments on offer should be sufficient for most traders.

Fees Of Trading, Products, & ROI At OptionFair

We are not aware of any hidden fees of OptionFair trading, nor have we found out any other costs that are related to maintaining an account at OptionFair. OptionFair is a regulated company, and it is expected to adhere to the policies and regulations set by the CySEC. Therefore, we are almost guaranteed that OptionFair does not charge any unnecessary costs to make up for any revenue loss or for improving their bottom line.

The broker enables trading of all of its underlying instruments through four different binary options products. Traders can choose the most popular High/Low options, or choose Short-Term, One Touch, and Boundary options. The High/Low binary options trades offer a maximum payout of 85% for certain instruments, which may be lowered down to 70% for several assets. Therefore the average payouts are higher than the average payouts that are offered in the market, and the highest payout of 85% is indeed representative of the average ROI offered by leading binary options brokers. If we have any complaints, it would be that the broker does not offer the possibility of receiving a refund for losing trades.

Despite the good payouts, we were disappointed to see that the Range and Touch options only provided an average of 70% ROI for in-the-money trades, which usually qualifies for revenues as high as 400% and 500%. Even the smaller binary options brokers offer a minimum of 200% ROI for these options, and we are not sure about the reason behind the company’s significantly smaller payouts for these exotic options. If you are indeed looking for the highest payouts, we do believe that the traditional high/low options to be the best bet for the largest returns.

OptionFair Platforms & Minimum/Maximum Investment Per Trade

All trading needs for OptionFair users are met by the third-party TechFinancial trading platform, which is a highly popular web trading interface that is adopted by numerous binary options brokers. The TechFinancial platform is one of the most advanced trading interfaces in the market and is constantly developed to provide an amazing user experience. The TechFinancial platform has the most user-oriented trading dashboard that not only provides all the platform features within easy reach but also provides the option of trading FX/CFD products along with the various binary options platforms. Traders can access all relevant account information through the trading interface to access the financial assets, expiry times, and even modify the charting options to suit their requirements. The OptionFair platform also has a trader dashboard that provides all information about open trades, trade history, news releases, promotions, economic calendar, and trading alerts, all accessible at a single place.

Traders are free to open any number of positions as they desire, but the company has capped the maximum exposure to $5000. The maximum cap on the trading is designed to reduce the risk to traders, but it may adversely affect larger traders who have larger equity in their accounts. However, we are comfortable with the maximum limits and recommend our traders to use their money management skills and lower capital outflow to reduce the risk in the market. The only concern is the minimum investment amount, which should be lowered to a more acceptable level to cater to smaller traders.

Availability Of OptionFair Mobile Apps

Trading on the move has never been as easy as trading with the OptionFair mobile trading apps, which are available for both iOS and Android devices. Traders can now install a dedicated OptionFair mobile trading platform on their devices by accessing the apps from the Google Play Store or the Apple App Store. These mobile trading interfaces do enable the best trading experience and are compatible with most modern smartphones and tablets running on Android and iOS operating systems. The OptionFair apps are fairly reliable and provide the best support to offer no compromises when compared to the desktop trading interface.

OptionFair Funding Options

An OptionFair account is only available for traders that are willing to deposit a minimum of $300 as the initial deposit, which is slightly larger than the $250 required by other mainstream companies. $300 is certainly a lot higher than brokers that accept smaller deposits, which can be as low as $1. The broker also enforces a maximum deposit of $1500 for new account holders, which will be eased if the broker believes that the trader does not have a gambling tendency. These financial restrictions are imposed as part of the regulatory requirements and are an essential aspect of enhancing the safety aspect of binary options trading.

OptionFair has a broad range of funding methods, including Credit cards, Wire transfer, Western Union, WebMoney, MoneyGram, Skrill, and Neteller. These options allow traders to use any funding option according to their preferences, and all methods, except for Wire transfer and MoneyGram, ensures instantaneous transfer of funds. The broker also provides same day fund transfer for withdrawals, and traders should expect the funds to reach their accounts within 48 hours. You should realise that wire transfer may take a longer time to process.

OptionFair Bonuses & Promotions

Being a regulated binary options broker, OptionFair does not provide any bonuses to its clients. Instead, the company offers trading insurance that provides a few risk-free trades that has a few trading conditions. The lack of bonus is indeed an issue for most traders, but it does prevent any conflict of interest. On the other hand, the broker may provide seasonal promotions and refer-a-friend programs, which offers the chance to win cash prizes and trading credits.

OptionFair Demo

An OptionFair demo account is only available for traders after making a deposit, which defeats the purpose of a demo account. Traders usually don’t trust such brokers, as there are cases where brokers withhold clients’ money if they are not satisfied with the services. Nevertheless, OptionFair is a regulated binary options broker, and the broker will honour all withdrawals without any questions. Yet, we would have felt more comfortable with the broker if they had a free, unconditional demo account in their service portfolio.

Effectiveness Of OptionFair Customer Support

OptionFair has a thoroughly professional customer service department and is as expected from a regulated binary options broker. There is an option for live chat, or traders can contact the broker’s representatives through email and dedicated phone numbers. The EU has a strict regulatory framework that concentrates on improving the customer service aspect, which is why OptionFair continues to be among the top brokers when it comes to customer satisfaction.

OptionFair Training materials & Other Trading Features

OptionFair offers a very basic training resource that does not induce much confidence among traders. There are trading signals and news coverage provided for free for all verified customers, but that may prove to be insufficient for smaller traders. OptionFair needs to work on improving its training resource to be able to keep up with the resources offered by other mainstream binary options trading companies.

OptionFair Final Verdict

  • A Highly regulated binary options broker that guarantees the safety of investors’ funds.
  • Payouts are at par with the industry standards.
  • Access to a global list of financial instruments.
  • Traders get access to a highly reliable trading platform for both desktop and mobile trading.
  • The customer support department offers top-notch service.

CONs

  • Demo account is only available for registered traders and after making a deposit.
  • No bonus offered in any form.
  • Payouts for Touch and Range options are lower than other brokers.

Is OptionFair A Scam?

OptionFair is not a scam broker and is regulated by the CySEC of Cyprus, which is one of the most credible regulatory organisations of Europe. CySEC has several regulatory policies that prevent companies from indulging in any scam activities.

Does OptionFair Process All Withdrawals On Time?

Yes, EU regulation has guaranteed that OptionFair processes all withdrawals on time. Of course, there may be slight delays in payments due to payment conditions or internal delays, but the broker does process all withdrawals on time.

What Is The Minimum Deposit For Opening An Account?

Traders should invest a minimum of $300 for opening an account, while the maximum deposit is limited to $5000.

Do I Get Access To Professional Customer Service?

Yes, OptionFair has the best customer support department that is responsive and professional towards all clients.

OptionFair Broker Review

�� Demo Account:
⚖ Allows Hedging:
�� Allows Scalping:
�� Headquarters: Virgin Islands, British
�� Founded:
�� Trading Platform(s): Tech Financials
�� Regulating Authority(s):
�� Minimum Deposit: 200
�� Maximum Leverage:

Visit OptionFair
Risk Warning: Your capital may be at risk

Our Review of OptionFair

Company Overview

OptionFair is well known in the online trading world as it is one of the leading brokers on the scene. This broker primarily offers binary options trading, and specialises in trading and market news on a real time basis. OptionFair offers some of the largest returns on the market: no less than 91%.

Account Types + Opening

There are five different accounts in OptionFair. The Standard account, for example, is designed for beginners. Other accounts, such as the Gold and Silver accounts are tailored towards more experienced traders who want to be able to trade with larger sums. Opening an account on the OptionFair site is quick and simple – all that is necessary is filling in an online form. Documents will need to be uploaded at a later stage, however, in order to confirm their identity before they can make withdrawals.

Promotions, Sign Up + Deposit Bonuses

The bonuses that you get with your OptionFair account will depend on the account type that you have. However, the maximum bonus that you can get is 100%. Bonuses are given on your first deposit.

Commissions and Fees

The charges that are demanded of traders by OptionFair will differ depending on what type of account the trader has. Though this broker states that they do not take fees or commissions, what they do do is charge traders for making a given trade.

Trading Platform Review & Mobile Apps

OptionFair prides itself on offering mobile trading, both with an app and with a mobile version of its site. The OptionFair website itself is easy to use and to navigate.

Deposits & Withdrawal Methods + Ease

Minimum deposit amounts vary from account type to account type. The smallest minimum deposit amount is associated with the Standard account and it is $250. The Silver account, by contrast, has a minimum deposit of $500. Deposits and withdrawals can be done by bank transfer or by card payment and they are usually nice and smooth and hassle free with this broker.

Regulators & Safety: Are they a reliable, legitimate broker or a scam?

OptionFair is a regulated binary options trading platform. It is licensed by CySEC. In addition, it has built up a good reputation among traders and is transparent about its regulation and licensing information; OptionFair is almost certainly not a scam!

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Options Broker 2020!
    Good Choice for Beginners!
    Free Trading Education, Free Demo Account!
    Get a Sign-Up Bonus Now!

  • Binomo
    Binomo

    2nd in our ranking!

Like this post? Please share to your friends:
How To Start Binary Options Trading 2020
Leave a Reply

;-) :| :x :twisted: :smile: :shock: :sad: :roll: :razz: :oops: :o :mrgreen: :lol: :idea: :grin: :evil: :cry: :cool: :arrow: :???: :?: :!: