OptionFair is one of the earliest binary options brokers to operate in the industry. The company was founded in 2010 and it has managed to build a good reputation over the years of operation. OptionFair is popular for its simplicity when it comes to trading signals. The company sends signals to clients either through SMS or email. As such, it is recommendable for newbies who seek to learn the skills of binary trading.
The company boasts of offering some of the highest returns in the market, as high as 91%. OptionFair is owned by B.O Trade Financials and was founded in Virginia Islands, British. For any inquiries, you can reach them on email address customercare@optionFair.com. This article will highlight some of the most prominent features of OptionFair. It will also look at the pros and cons of the broker to determine if it is fraudulent or a legit platform.
To start, it does not come as a surprise to see new trading innovations engineered by OptionFair. The company is popular for several innovations, which are currently almost a basic requirement for a good binary options broker. The innovations include trade signals features that source for the most recent trades, business and financial information across the globe. As such, traders know when to trade and when not to trade.
Additionally, the broker introduced the OptionFair 60 seconds. This feature allows the trader to predict an asset price direction within the expiry time of the asset. In this case, the period is just one minute. With the 60-second feature, you can make rapid profits within a very short time as long as you can accurately read the trading trends well and make prompt and accurate trading actions. The continuous advancement seeks to give the best trading experience to investors. Therefore, the company proves to have customer’s satisfaction as their priority, unlike others who seek to make profits.
Easy to Use Trading Platform
OptionFair has an easy to navigate web-based trading platform that is operated on technical Financials software. The trading platform is user-friendly and accommodates both newbies and gurus in the industry. It provides a live chat in English, Russia, Polish, Spanish, Arabic, Italian, and French. As such the broker supports trading from across the globe as long as trading is legal in your state.
The trading platform is supported in mobile apps allowing you to trade even on the move no matter where you are. The mobile trading app is supported on android, iOS, and currently on iPhone. Therefore, with OptionFair you cannot miss any trading activity.
The company boasts of offering over 130 assets to choose from including currencies, commodities, stocks, and indices. The trading platform deals in major currencies they are USD, EUR, GBP, RUB, and HUF. Other than that, the commodities traded in include Gold, Platinum, Silver, and Crude oil. They also deal in Gold/EUR, Gold/Silver, and Gold/JPY. Therefore, no matter your choice of funding providers, the company ensures that you can easily trade and make profits.
All funding payments are made through, credit and debit cards, Visa MasterCard, bank wire transfer, e-wallets example money gram and skrill among others.
The minimum deposit allowed is $100 for card payment and e-wallets for wire transfer the deposit is $50 and $1000 for western union.
The company has a minimum amount allowed for withdrawals. The withdrawals are charged $30 or the equivalent currency account as withdraw commission. However, they offer a free withdrawal every 31 days. Processing of withdrawals may take up to 48 hours and longer for wired transfer.
OptionFair has heavily invested in the security of both data and funds for its customers. First, the broker uses SSL encrypting technology to protect data from unauthorized users and third parties. Since the company uses Tech Financial software, you are guaranteed that both your funds and data are secure. Similarly, all transactions are verified by Visa and MasterCard. The company is licensed by CySEC emphasizing on the trustworthy nature of the broker to its clients.
The company offers three different types of accounts, which differ according to the initial deposit. The accounts are, standard suited for beginners, silver account, Gold account, Platinum and VIP account.
Bonuses and Promotions
The binary options broker offers bonuses for the first deposit. The amount of bonus you get depends on your account type and goes to a maximum of 100%.
- To start, the company has heavily invested in advanced security features. Thus, you do not have to worry about the security of both your funds and data.
- Secondly, no matter your financial muscle you have a wide range of accounts to choose from while investing.
- Similarly, no matter your trading asset of choice you can easily invest and trade with OptionFair.
- Other than that, the trading platform is user-friendly and therefore even beginners can easily navigate through it
- Finally, trading is not limited to a desktop computer. You can trade anywhere using the mobile trading app.
- Firstly, the account offers a demo account but you are required to deposit money. These beat the use of a demo account since it should be free to help you gain trading skills. As such these appears as a red flag to potential clients.
- Secondly, the company stopped accepting new investors in 2018 and the trading platform is no longer active.
- Finally, yet importantly, some clients have complained of having their money locked in by the trading platform. This, therefore, questions the legitimacy of the platform.
With the company’s features, pros and cons highlighted above, OptionFair is still on the fence and we are unsure of our recommendation. Especially considering the news that they may not be accepting clients. At this point we would be more willing to recommend Pocket Option or FINMAX as more viable options. Always remember that trading in binary options is a risk. Investing in a broker is not a guarantee riches and you should only trade in what you can afford to lose.
Price - 60%
Ease of Use - 79%
Platform - 89%
Feedback - 65%
Support - 71%