OptionFair Broker Review

OptionFair Review & Details

The Option Fair trading platform is as original as they get. A financial trading platform which they built and licensed to use to no other than five other financial brokers. This tells you two things, one: they’ve built an impressive binary options platform which others want to use and two whilst it doesn’t make them unique in their offering, it does make them innovative with the ability to improve and roll out change quickly.

They’ve been around since 2010, so long enough to know the business inside out, with their binary options trading platform getting straight to the point, allowing you to trade in seconds with a large emphasis placed on the options expiry time and rate of return. What’s best, as the platform is theirs, they’ve really sat down and thought about the Option Time Variable, with trading sections organised and based on the expiry time of assets and allowing the increasingly popular 60 second trades.

Beginners beware

Beginners will quickly get excited when they find out that OptionFair has one of the highest average returns per asset industry wide. And whilst OptionFair certainly aren’t unwelcoming to new traders, they’ve created an environment which is more suited for either experienced traders, or best case scenario, beginners who like a little risk.

Their financial asset table changes every 15 minutes, creating a high pressure environment, based more on whether the chart is going up or down than any clear strategy.

The learning tools are fairly basic and whilst information on the assets and the market can be found, these are not necessarily readily available, especially with the constant short term trades-always available. That said, you don’t have to take the high-risk or high-return trades, and if you find the strategies and financial instruments somewhere else, you can easily use their trading platform to make some very profitable trades.

Be sure to come to the Option Fair site with a set and tested trading strategy.

Financial Assets & Expiry Time

If you’ve had a glance at the list of tradable financial assets, you’ll quickly see that the OptionFair platform has a decent range of currency pairs, and stocks – you can trade binary options in 72 underlying assets in total: 29 stocks, 21 currencies (forex) 13 indices and 9 commodities. Be sure, before you sign up for that 89% return, that the asset you want to make your financial bets on is on the list as not to disappoint.

As mentioned above, OptionFair specialise in short term trades, including 60 seconds, constantly changing, but you can find longer trade options 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 options platform has that golden nugget that makes it stand out from the rest. For the broker OptionFair, this is undoubtedly the averagely-high effective return for In-The-Money wins, with a range of 70% to the incredible 89% returns. 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 the OptionFair site one of the most profitable binary options platforms around.

Deposit & Withdrawal

OptionFair 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 they charge a 30$ fee for the privilege.

Being regulated by CySEC (Cyprus Securities and Exchange Commission) can give you a little piece of mind that your deposits are securely held and any complaints that arise will be dealt with swiftly.

Customer Support

OptionFair's 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

The OptionFair mobile binary options site offers both Android and iPhone trading apps from the respective stores.

Their mobile apps simplify 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 options and recognise trends. A nice read for trading 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 financial market analysis figures and a comprehensive glossary and overview of their binary options 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 minimise 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 OptionFair's 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.

Not only that but they also offer binary options trading signals called FairSignals. This automatically alerts you letting you know which are the most profitable trade opportunities currently available. Just remember to contact your account manager to activate them.

Unfortunately there is no OptionFair demo account to let you get to grips with their system, however they do offer all new traders 5 risk free insured trades on sign up.

Conclusion

This OptionFair review shows that they are a great binary options trading platform. Covering most of the major languages, with a simple trading process and modern and elegant style, you can see why so many people are attracted to this no download needed platform – and why they license out this platform to third party options brokers.

But the real reason people flock to this online financial trading broker is the high returns on short term trades which can make a knowledgeable trader very rich very quickly. But with a high first deposit amount, this is a platform best used with care, as beginners may be tempted by the numbers, such as up to 15% refund on Out-The-Money wagers and 85% returns, but with such high pressure trades so readily available, they might be tempted to place a financial bet with no real strategy. At which point that 15% is all they are likely to keep seeing, and it doesn’t matter how high the return percentage is, they won’t reach it to enjoy it.

The OptionFair platform is safe and enjoyable to use and has a lot to offer you, the savvy trader.