OptionFair was founded in 2010 and over the years of its operation has become one of the best binary options brokers in the international community. The main office of the broker is located in Cyprus, but the company has branches in many countries worldwide. In terms of the reliability of the storage of means the company makes every effort to protect vital customer data and payment details for financial transactions, and falls under the regulation of the CySEC and MiFID (The Markets in Financial Instruments Directive).
OptionFair has the quickest and easiest registration system I have ever seen. It pleases and inspires further exploration of the site and the platform as a whole. If you were to describe this broker briefly, it would just say “simple and effective”. The site is intuitive, understandable and works pretty fast and efficiently. No freezes, even though I tried several browsers, trying to find something to complain about.
In order to open a trading account through OptionFair I filled out a specially designated form on the main page, specified all of the basic information, including name, mobile phone number and e-mail. After registration, it was recommended that I choose a trading account to get started.
When I first looked at the trading platform, I noticed a few assets that I did not see in other brokers. By the way, if the starting trading causes you a little fear, then you might want/need to use the insurance system for your first few deals.
In addition to the version for the PC, I also downloaded the mobile version of the platform and got the opportunity to trade, regardless of my location at the time of the relevant market situation. I advise you to use this tool for regular trading.
Is OptionFair reliable?
Unfortunately, the modern market trading is often faced with brokers that are not as honest as you would hope and there are even a few out there who want to defraud and shamelessly take away the hard earned money of honest traders using various pretexts. However, contrary to views of some people who have suffered from fraud, there are not so many companies with the industry being well regulated. Why? I’ll tell you. Binary trade is beneficial not only for traders but also for brokers who can take a decent (via small percentages) profit from the work of its customers. Therefore, they try to be honest and open with their clients. My advice on this subject – before starting to trade, you should check whether you can trust the broker you selected by looking up its credentials and even ringing a few agencies to check.
First of all, the broker must be licensed by regulatory organizations. The reliability of OptionFair is confirmed by the Financial Regulatory Agency of Cyprus and The Markets in Financial Instruments Directive. MiFID requirements apply to the 27 countries member of the European Union and the three European Economic Area countries.
The broker should have a good work experience history. The binary options market is quite young, but if the company has been working on it for over 5 years, in my opinion, it is a good indicator but always check and never just take the word of someone.
The trading platform should work without delay. Don’t forget to think for yourself, you have to make decisions quickly in the conditions when the data changes all the time. If you get any information later than you need it, you run the risk of making a mistake. Not by chance, I always call to the attention of my article’s readers just how quickly the platform works.
Based on these criteria, as well as my personal experience, OptionFair is, in my book at least, a very reliable broker.
We all like to get bonuses. It is no coincidence the promise of these type of rewards are so often heard in the promotional materials of different brokers. OptionFair is not an exception to this rule. But on this platform getting bonuses depends on which account type you choose and not on some fancy selling mechanism.
So what do we get for the normal, standard account? Only a 20% bonus on your first deposit. I don’t know about you, but I think for regular trading that is not quite as much as I would like. And where is the percentage for additional profits? That kind of luxury, I’m afraid, only begins with the Silver account. For this you will need a deposit of $500, and in return you will receive 40% bonuses and an additional 1% of additional profits. As you can see, replenishing your account with $500 is more beneficial, rather than the base $250. Moreover, you can get some advice from a financial expert based with OptionFair (once a month), you will receive SMS notifications in real-time, you will have access to a daily review of the financial market and to a large number of video lessons.
If you decide to put $2,000 at once, then your percentage on extra income will be 2%, and your bonus will rise to 60%. To my great regret, this percentage does not change in proportion to the contribution. That is, if you deposit $15,000 into your trading account, the percentage of additional profits will not be 15% and will vary between 3-4%. But you will have the opportunity to have a session with a financial expert with no restrictions. The maximum bonus from your first deposit is 100%, paid only to VIP accounts, requiring a deposit of $50,000 and more, however, should you choose this method your percentage on additional profit reaches 5%.
My experience has shown that there are no apparent limits to the withdrawal of funds from OptionFair, except for the one-time verification of personal accounts, required by the standards of “know your client”. To do this I had to send a copy of my identity documents and a copy of a document containing the address of my permanent residence to the official e-mail of the company.
After confirmation of my legitimacy I was given an opportunity to make withdrawals as often as I would like. However, there is one caveat. Only the first withdrawal per month can be done without the payment of commissions. Subsequent transfers are accompanied by an administration fee of $ 30 for each transaction.
If you are the owner of a VIP account you can apply for a personal credit card, which allows you to make purchases and withdraw cash from ATMs, and your funds can be removed without limitation, directly from your account balance.
What kind of positive OptionFair qualities would I consider to be the most important? Well firstly is the value of stock prices, comfortable private office and a variety of useful tools for trading. It is important that the broker allows traders to close their positions in the market before expiration. Among the tools you are sure to find are all the basic elements such as High / Low, Touch and Boundary, including short-term options from 30 seconds to 5 minutes.
Plus, a convenient and comprehensible platform, which is available in multiple languages, including English, French, Italian, Spanish, Portuguese, Turkish, German, Finish, Norwegian, Danish, Swedish, Arabic.
In addition, you will be pleased to hear that the offer an advantageous demo account where you can try before you buy. This is an important step towards a permanent trade with any broker. Novice traders can easily start and quickly improve their skills. Well considered information kits, as well as a detailed description of all features and services will help them in this process.
OptionFair Commissions, Support
Already the first profitable trade showed me that higher interest payments are a pretty good thing. At OptionFair they reach 85%. In general, as we discussed above, the details of the bonus system is inseparable from any account you have. However, if you still have any questions, feel free to call or email customer service for more advice. In general, it is a high quality service. I had only positive outcomes from my dealings with them.
Deposit, Payment and Bonus
OptionFair allows you to replenish your account balance using multiple payment systems and bank cards. Among them are: Wire Transfer, Visa, Maestro, MasterCard, Skrill, Qiwi, WebMoney and others. Any earned money may be withdrawn from your account using the same methods. Bonuses offered by OptionFair are quite reasonable, but I can not say that they are much better than any other broker has but are also no worse.
OptionFair Website Extras
The OptionFair platform allows its customers, in addition to the binary options, to trading in currency instruments as well. Beginners will appreciate the five risk-free deals that you can get right after your first deposit. If your early predictions proved to be wrong, you will get back the amount invested. While trading on OptionFair I was happy to use the signals for binary options offered by the FairSignals system. That’s a pretty high-quality service, which has been rewarded more than once.
Today, it is one of the largest binary options trading platforms that I have tested. I think there are several explanations as to why this is. Firstly, this platform is so well developed and thought out, which gives it a huge advantage over other brokers.
Secondly, the company “OptionFair” largely has become an innovator rather than just a broker. For example, it pioneered such features as sixty seconds bids, one-touch and high profits. This alone increased the clientele of the broker by a significant margin.
The broker uses the platform of the leading developers and because of this, they have earned good status among peers and experts alike. Positive feedbacks about OptionFair is certainly proof of it. But the company did not stop there, and is constantly working to improve its service. This is the main reason why I recommend this broker for regular trading operations.