Option Fair Broker Review and Details

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OptionFair Broker Review

Although OptionFair does not offer sign up bonuses, it does occasionally offer other trading benefits such as out of the money compensation and insured trades. Their software, backed by their sister company Techfinancials, is user friendly and innovative, while their knowledgeable customer service team are capable of answering a wide range of questions and resolve a broad spectrum of issues. They also offer a large range of options to choose from.

Review Overview

Bonuses – 50%
Software – 95%
Customer Support – 75%
Options Choice – 90%

Good Quality Broker

Summary : Trusted Broker

Intro

OptionFair is an online binary options broker which offers an innovative service. As a market leader, they allow their clients to follow financial market trends by offering trading in both binary options and Forex. They offer a service that is suited to both experienced and novice traders with a simple to use, fun and quick trading platform. OptionFair takes pride in their freedom of choice, fairness and transparency as well as a their withdrawal guarantee. Their innovative trading interface us backed by TechFinancials, their sister company, and offers a wide range of assets and instruments. They also boast a skilled team of finance professionals with years of experience in the financial markets.

Company Information

OptionFair is a licensed and regulated broker with CySEC for the client’s complete peace of mind. As such, they ensure that all financial transactions are well protected with strong encryption and that all client funds are kept in segregated accounts. Established in 2020, OptionFair is operated and owned by Tradefinancials Ltd, a Cyprus Investment Firm which is based in Cyprus.

Assets Available

OptionFair offers around 140 assets for traders to select from.

Their list of assets includes:

Bonuses & VIP Programs

Unlike many other brokers, OptionFair does not appear to offer sign up bonuses to attract new clients, however there do appear to be some trading benefits which may be offered by this broker to existing or new clients at their own discretion. Unusually, and as an added benefit, no withdrawal restrictions are imposed on any of these benefits. The benefits on offer include:

  • Insured Trades – this is a single time benefit which helps to lower the client’s risk
  • Out of the money compensation – this is another one time benefit which is occasionally awarded to clients to compensate them for trading losses.

Mobile

As expected from most binary options brokers, OptionFair has recognised the need for clients to check their assets and to carry out their trades while they are on the go. They are aware that traders do not want to be tied to their laptop or PC and, with the knowledge that downloading and installing memory intensive software slows down transactions by causing problems with computer memory, OptionFair have therefore developed a trading interface which is entirely internet based. This enables trade executions to be carried out more swiftly from anywhere worldwide and at any hour of the night or day using a tablet, iPad or Android smartphone as long as it has a functional internet connection. OptionFair’s website is mobile optimised, however it also has a free mobile application which makes it even easier to trade from a mobile device. It is easy to download this mobile app from the Google Play Store, Apple Store or even from the broker’s website.

Deposits and Withdrawals

OptionBit offers a wide variety of payment methods

  • Credit Card and Debit cards – Visa, MasterCard, Diners Club, Visa Electron, Visa Delta, Visa Co-Branded Cards, MasterCard Debit, JCB, Carte Bleue, Dankort, CartaSi, Lazer, Discover, and Maestro International.
  • Bank wire transfer
  • Western Union
  • Moneygram
  • Skrill
  • Neteller

The minimum deposit amount varies depending on the method used. Credit and debit cards require a $300 deposit (or equivalent), bank transfers require a $500 deposit, Moneygram and Western Union require a $1000 deposit and popular e-Wallets Skrill and Neteller require a $300 deposit. First time investors are restricted to a maximum initial deposit amount of $1500. The minimum trade amount for a single trade is $25 with a maximum single trade amount of $3000. Accounts can be opened in 5 different currencies including:

  • US Dollar
  • Euro
  • Pound Sterling
  • Hungarian Forint
  • Russian Rubles

Once you have chosen a base currency you are not permitted to switch to another one at a later date.

There is no minimum withdrawal amount and every client receives one free withdrawal monthly. Subsequent withdrawals are charged at $30. Withdrawal requests are processed rapidly, usually within 24 hours.

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Customer Support

There are several methods through which clients can contact the OptionFair customer support centre. These include:

  • Email – there are 2 email addresses, one for the operations centre and one for support services
  • Telephone – there are 6 telephone helplines, one for the operations centre and 5 support helplines which are in 5 different languages: English, Russian, Hungarian, French and German
  • Live Chat
  • Fax

The website is available in five languages, English, Russian, Hungarian, French and German

Extra Features and Resources

OptionFair, unlike many other modern binary options brokers, do not have very many educational resources available for its clients which is a bit of a disappointment. Although there is an education centre for clients to access, there are no videos or tutorials to use. There are some articles which aim to address some of the basics surrounding binary options trading and there is also a useful Frequently Asked Questions section as well as a glossary of basic terms, however this is considerably less than is usually offered by some other brokers.

Verdict

OptionFair has quite a lot to offer its potential clients, however it is also important to bear in mind that there are several negative points too.

  • Cutting edge trading software that is suitable for use by both experienced and novice traders
  • 100% online trading interface requiring no installations or downloads
  • Mobile trading apps for iPhone and Android
  • Choice of customer service contact methods including instant live chat
  • Multilingual website
  • Regulated and licensed by CySEC
  • Strong SSL encryption site wide
  • Choice of base account currencies
  • Fast withdrawal times
  • Trading benefits offered
  • Good choice of deposit and withdrawal options including e-Wallets
  • There appear to be no welcome bonuses
  • Very limited educational resources

Is OptionFair a regulated broker?

Unlike many other brokers, OptionFair is licensed and regulated for the client’s peace of mind. They are under the regulation of CySec and are compliant with all of the rules regarding safeguarding of client funds and trustworthiness.

How do I register with this broker?

OptionFair have made their registration process quick and simple. All clients needs to do is to complete and submit all the relevant personal information on their online registration form. In no time, you’ll be ready to deposit your first amount and start trading.

Which currencies can be used as a base account currency with OptionFair?

OptionFair accept accounts opened in one of five different currencies:

  • Euros
  • US Dollars
  • Pounds Sterling
  • Hungarian Forints
  • Russian Rubles

Your base currency is unable to be changed once you have made a final decision.

Is there a registration fee payable to OptionFair?

Clients do not need to pay any registration fee when they open a live trading account with this broker.

Which option types are available through OptionFair?

There are several option types available so that clients can enjoy the best possible variety of trading experience. The instrument types on offer include:

  • High/Low
  • Boundary
  • Touch/No Touch
  • 60 Second Trades

Is OptionFair a scam?

Potential clients can rest assured that if they choose to trade with OptionFair as their preferred broker, they will not be subject to any kind of scam. Their trading platform is backed by TechFinancials and is a very secure interface. All of their services are also reliable and they have strong Security and Privacy policies in place for the clients’ protection.

Will I need to install any software to my computer?

Traders are not required to install or download any trading software to their computer and can simply use any regular PC as long as it has a working internet connection. The OptionFair trading software is compatible with all main browsers including Internet Explorer, FireFox and Google Chrome. However Javascript has to be enabled in order to place a trade.

What are the benefits of choosing OptionFair?

OptionFair aims to educate, assist and train their clients to help them to make informed investment choices whilst also offering transparency and fairness. Offering freedom of choice for traders, this broker ensures that investors are able to close out their trade early and that all of their client funds are held in safe segregated accounts. With mobile trading available, a wide variety of banking methods and some interesting trading benefits available, OptionFair is an interesting choice of broker for both experience and novice clients.

OptionFair Review

Trading Platform OptionFair

The trading platform provided by OptionFair is created by OptionFair’s sister company called TechFinancials. The platform has been developed with an aim to offer the optimal interface and tools for binary options trading. The platform itself supports a wide range of financial instruments and assets. The team of TechFinancials has created a set of advanced pricing algorithms, which lets them offer the tech able to power an impressive range of financial instruments. TradeFinancials platform is managed by experts in binary options trading who use their knowledge and experience to make sure you can invest and trade safely and effectively.

Standout features of OptionFair’s trading platform are its One Touch Trading, and Boundary Trading or Range Trading. Another notable feature is that you can close any open market position before the predetermined expiry time. For fast trading, you can try the “60 Seconds” feature which tells you in a minute whether your option will expire in or out of the money.

The broker guarantees safety and transparency of their service and gives you the opportunity to select either sides of a single option to make sure of the guaranteed fairness in pricing with no spreads, fees or commissions.

You can also easily trade on the go with a great mobile app provided by OptionFair which allows you to stay constantly connected to the world’s financial markets no matter where you are.

  • User-friendly trading platform
  • Option for weekend trading
  • Mobile trading is supported
  • Low spreads
  • Regular offering of large bonuses
  • High returns within 60 seconds
  • High refund percentage of 10% to 15%
  • Good bonus for “Invite a Friend” promotion
  • Early closure feature
  • Daily market highlights and analysis provided
  • PayPal is not supported
  • Does not cater to US traders
  • Limited asset list

Platform type: Tech Financials

Platform Languages: English, Spanish, German, French, Chinese, Italian, Turkish, Arabic, Swedish

OS Compatibility: iOS, Windows

Streaming News Feed: Yes

Email Alerts: No

Mobile Alerts: No

Company information OptionFair

Located in: British Virgin Islands

Website: www.optionfair.com

Founded in: 2020

Accepts US Clients: No

Phone number: 0044 203 5190373

Email: [email protected]

Account Options OptionFair

Commission:

Minimum Deposit: $200

Payouts Percentage: 85%

Deposit Options: MoneyGram, Credit Card, Debit Card, Bank Wire Transfer, Western Union, Moneybookers

Withdrawal Options: Credit Card, Bank Wire Transfer, Western Union, Moneybookers

Payout Ratios: Returns can go as high as 85%. You can get a 10% to 15% refund for losing trades.

Available Assets OptionFair

Forex, Metals, Oil, Gold, Indices, Stocks, Commodities

What Support Does This Vendor Offer?

  • email
  • phone
  • live support
  • training
  • tickets

Customer Support Languages: English, Spanish, French, Italian, Arabic

Customer Service Hours: OptionFair provides a full 24/7 customer service

Place Trades Over the Phone?: No

OptionFair Trade types

OptionFair offers the following trade types:

  • High / Low Instrument: It allows you to decide if the price of an asset will go up or down
  • One Touch Instrument: Here you can choose if the price of an asset will touch a specific target price.
  • Boundary: It lets you choose if a given asset price is going to stay withing a given price range.
  • Short Term: It supports quick 60 second, 2 minute or 5 minute trades available with the with the short term option.

OptionFair Trade accounts

OptionFair offers five types of trading accounts:

Standard : Initial deposit is $250, up to 20% bonus

  • Additional profit is 0%
  • Binary Opitons eBook
  • Introductory financial expert session
  • 17 video tutorials
  • Minimum trade amount is 25 $/€/£

Silver : Initial deposit is $500, up to 40% bonus

  • Additional profit is 1%
  • Binary Opitons eBook
  • Daily Overview
  • 1 financial expert session per month
  • 31 video tutorials
  • Minimum trade amount 25 $/€/£

Gold : Initial deposit is $2,000, up to 60% bonus

  • Additional profit is 2%
  • Binary Opitons eBook
  • Daily Overview
  • 2 financial expert session per week
  • 44 video tutorials
  • Minimum trade amount 100 $/€/£

Platinum : Initial deposit is $15,000, up to 80% bonus

  • Additional profit is 4%
  • Binary Opitons eBook
  • Daily Overview
  • Unlimited financial expert sessions
  • 51 video tutorials
  • Minimum trade amount 200 $/€/£

VIP : Initial deposit is $50,000, up to 100% bonus

  • Additional profit is 6%
  • Binary Opitons eBook
  • Daily Overview
  • Unlimited financial expert sessions
  • Unlimited trading strategies
  • 51 video tutorials
  • Minimum trade amount 500 $/€/£

OptionFair Position In Our Categories

Position of OptionFair in our main categories:

OptionFair is one of the top 20 Binary Options Brokers products

If you are considering OptionFair it may also be sensible to investigate other subcategories of Binary Options Brokers collected in our base of SaaS software reviews.

It is essential to realize that hardly any service in the Binary Options Brokers category is going to be a perfect solution that can match all the goals of different investors. It may be a good idea to read a few OptionFair reviews first as certain solutions can actually perform well just in a specific geography or situation or be designed with a very specific customer in mind. Others can function with a goal of being easy and intuitive and as a result lack advanced functions welcomed by more experienced users. You can also come across services that support a broad group of users and offer a powerful feature base, however this frequently comes at a higher price of such a solution. Make sure you’re aware of your needs so that you select a service that offers exactly the features you look for.

User Satisfaction

We realize that when you make a decision to buy Binary Options Brokers it’s important not only to see how experts evaluate it in their reviews, but also to find out if the real people and companies that buy it are actually satisfied with the product. That’s why we’ve created our behavior-based Customer Satisfaction Algorithm™ that gathers customer reviews, comments and OptionFair reviews across a wide range of social media sites. The data is then presented in an easy to digest form showing how many people had positive and negative experience with OptionFair. With that information at hand you should be equipped to make an informed buying decision that you won’t regret.

OptionFair Review

Overview

OptionFair is dedicated to one primary goal: providing traders with the ability to trade by investing in a variety of options. The Binary options trading on OptionFair gives a user-friendly platform, that is suitable for all levels of traders.

Details

Broker OptionFair
Website URL www.optionfair.com
Founded 2020
Headquarters Ioanni Styliamou 6 2nd Floor, Office 202 2003 Nicosia, Cyprus.
Minimum 1st Deposit $250
Minimum Trade Amount $10
Payout up to 84%
Free Demo Account
Regulated
Regulation CySec № 216/13
Number of Assets 132
Account Currency USD / RUR/ EUR/ GBP/ JPY / CNY/ HUF
US Traders Allowed
Mobile Trading
Overall Score 8/10

Full Review

The indicators of profitability for customers are within 65 to 89 percents, and losses are compensated at a rate of 15 percents. The minimum deposit amount for customers is almost the standard – $250. However, the minimum rate of transactions is quite significant, amounting to $ 25. This broker has no demo accounts to its clients. There is a mobile version of the trading platform. It also offers a free of charge training for traders. The registration procedure is simple and intuitive, even for inexperienced users.

A unique, among similar profile firms, trading platform of «OptionFair», which got its own name known as «OptionFair®». Use of this software is simple and reliable. One of particularly notable features of the platform is the availability of a special window to show the quotes. The rich arsenal of technical tools and indicators allows the traders to use a variety of strategies with flexibility and good interface. No negative feedback has ever been received on the platform’s functionality.

There are about 132 positions of financial assets to work with. They all belong to the highly liquid trading instruments, that facilitates the operations with them for traders’ community.

The number of available options for traders include:

1. «above-below»
2. «increase – decrease»
3. The «one-touch»
4. «border»
5. «short-term»

The company’s training center of the provides an extensive set of instructional videos, interactive texts, manuals for beginners, and a complete and detailed description of all functionalities that is available to customers for use. Communication with the customer audience is available 24/7, with no days off. The support is multilingual, including Russian speaking specialists.

Withdrawals and deposits in «OptionFair»

Add your deposit with the broker or bring it up in several ways, of which the trader has the opportunity to choose the most convenient for him. Make payments with debit and credit cards ( «VISA», «MASTERCARD» and so forth.), Several payment systems of electronic type ( «QIWI», «WEBMONEY» etc.). It is also possible the use of international remittances systems ( «WesternUnion» and etc.). The initial deposits are made instantly (except for bank transfer – it requires about 3 days). The withdrawal is also not as fast, and takes up to 3 days, while the bank transfer is about 5 days.

Complaints about «OptionFair»

Periodically, the web sites publish complaints on this broker’s activities. A careful analysis of those posts and content suggests that these are manipulations of unfair competitors. The reasons for this assumption concludes the similarities and shortly written posts (usually there are 1-2 claims of a similar nature) and the disappearance of authors off site when there is a request to present any substantial evidence of what was said. Some small misunderstandings, as typical for any large-scale operations, this company eliminates very efficiently, and it is surely for the benefit of the customer support representatives.

If we find complaints about «OptionFair», we will post it on social media. Follow us to be well informed:

Regulator of the «OptionFair» broker

The company’s work is governed by a well-known organization «CySEC», having an impeccable reputation and its very well-known tough policy against violators of conventional procedures and norms of the legislation.

Check OptionFair license CySEC.gov.cy

Is the «OptionFair» a scam ?

The totality of the above information and analysis data collected by the Global Information Networks makes this quite uniquely qualified brokerage firm – «OptionFair» as an honest and law-abiding market participant in all aspects of its activities. No criminal manifestations for all the work of the company is ever found in its operations. There are no claims from other market participants, neither from the law enforcement agencies.

Bonuses at «OptionFair»

The company’s bonus policy is as the following: bonus programs for clients, only one the first deposit. When the amount is up to 499 US dollars, the trader receives a 10% bonus of all of the amount paid. If the deposit is within 500 to 999 US dollars, the bonus already reaches to 20 percents. With the amounts of the deposit ranging from 1000 to 5000 US dollars, the size of the bonus is increased to 30 percents of the total introduced to the account of the trader amounts.

Summary for «OptionFair»

Upon all the important for trading participants characteristics, a brokerage «OptionFair» coincides with the idea of a good, reliable broker. An additional advantage – a unique, extremely convenient and reliable trading platform of its own design.

Conclusion

The brokerage firm «OptionFair», of course, is a reliable business partner in operations with binary options for any trader. Within a short period of operations it has built a very positive reputation, based on objective facts and figures.

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