Launched in 2010, OptionFair is operated by B.O. Trade Financials Ltd, a company located in the Republic of Cyprus. It is licensed by the Cyprus Securities and Exchange Commission, with license number 216/13.
Proud of its status as a regulated platform, OptionFair abides by the policies and requirements set by the CySEC and the EU to make sure that personal data of clients are protected. Stringent checks are conducted periodically to make sure that all activities of the organization are provided with complete fairness and transparency. Their focus on protecting their traders’ money through a completely separate investor, Compensation Fund, and with the introduction of their Elite Traders Club Card shows that they are committed not only to the stability of their business, but also to the security and satisfaction of their traders.
Their platform is straightforward and offers classic option trades, such as High/Low, Short Term, One Touch, and Boundary. It also gives the trader the alternative to close out trades prior to scheduled expiry to limit risk or secure profit.
The dashboard is spacious, but the information shown on the first page is limited. The navigational tabs are only a handful and do not seem to carry sufficient details for a user to make a fair assessment of the platform before they sign up for an account. The Trader’s Center tab inexplicably shows a mixture of information: OptionFair’s account structures, various educational and technical tools, and daily news. This is unlike other sites that place these pieces information separately. The Promotions tab blinks red incessantly (quite distracting) and the Options tab does not carry data about the different binary option products offered by OptionFair. Instead, it redirects the visitor to the OptionFair platform.
The supposed Educational tab contains only articles written in large blocks of text, without any dynamic presentation or attempt at showing the content through multimedia. The Academy tab, which boasts of being a distinctive resource for learning, progressive, appealing, and fun to use, and designed specifically for busy people who require fast, high-tech learning solutions, is only accessible to those who already have an account.
OptionFair offers five exclusive account packages. Users will be eligible for these account packages, depending on the amount of their initial deposit. The average payout is 85%, depending on the type of assets traded and the expiry time. It is possible to earn up to 91% payout.
Users who make an initial deposit of $250 to $499 are entitled to a Standard Account package, which includes complete access to the platform of OptionsFair and all of its functions, a Binary Options eBook, an introductory financial expert session, 17 video tutorials, and a minimum trade investment amount of $25.
Users who make an initial deposit of $500 to $1,999 are entitled to a Silver Account package, which includes all the benefits of a Standard Account, plus additional 1% profit on payouts, a free daily overview, 1 full session with a financial expert every month, 1 month of mail and SMS signals, 31 video tutorials, and 1 trading strategies session.
Users who make an initial deposit of $2,000 to $14,999 are entitled to a Gold Account package, which includes all the benefits of a Standard Account, plus additional 2% profit on payouts, 2 sessions with a financial expert per week, 2 months of mail and SMS signals, 44 video Tutorials, 3 trading strategies sessions, and a minimum trade investment amount of $100.
Users who make an initial deposit of $15,000 to $49,999 are entitled to a Platinum Account package, which includes all the benefits of a Gold Account plus additional 4% profit on payouts, unlimited sessions with a financial expert, 3 months of mail and SMS signals, 51 video tutorials, 5 trading strategies sessions, and a minimum trade investment amount of $200.
Users who make an initial deposit of $50,000 and up are entitled to a VIP account package, which includes all the benefits of a Platinum Account plus additional 6% profit on payouts, 6 months of mail and SMS signals, unlimited trading strategies sessions, and a minimum trade investment amount of $500. The maximum amount a trader can invest in an option is $15,000.
OptionFair offers up to 20% initial deposit bonus for Standard Account, up to 40% for Silver Account, up to 60% for Gold Account, up to 80% for Platinum Account, and up to 100% for VIP account.
Option Fair also hosts a Forex Target Trading Tournament, where there is a $50,000 prize pool every week. The winner of this tournament will have the prize transferred directly to his account. This amount must be subjected to a certain amount of trades before it can be withdrawn.
Payment & currencies
OptionFair accepts deposits in US Dollar, Euros, British Pounds, Russian Ruble or Hungarian Forint. The trading currency is selected as part of the registration process and once selected, it cannot be changed. There is a $30,000 daily limit, an $80,000 weekly limit, and a $150,000 monthly limit for deposits. OptionFair does not charge traders for making a deposit; however, their bank or the wire service that they transact with may request for fee.
There is no minimum withdrawal amount. To make a withdrawal request, just sign in and then go to the page (banking) found on the trading platform. In order to conform with the anti-money laundering policies, OptionFair necessitates that all accounts undergo verification process before the trader makes a first-time withdrawal.
All traders are entitled to a one-time free withdrawal every 31 days. Withdrawals require a fee of $30, depending on the trading currency. Wire transfers made by OptionFair uses the “shared” charges method, where corresponding bank charges are shouldered by the receiving party.
Requests for withdrawal received by OptionFair for a confirmed account are normally processed within five business days from the date the request is made. Withdrawal requests received by OptionFair for a non-verified account typically take 5 business days from the date of receipt of the verified documents.
Pending withdrawals may be canceled from the Pending Requests section that can be found in the ‘My Accounts’ tab located on the platform. The amount will then be reflected to the balance accessible for trading. All withdrawal requests with pending status and that are still awaiting documents for verification will be automatically cancelled by OptionFair after 14 days; the amount will be returned to the customer’s account.
OptionFair offers traders several methods for depositing funds:
Credit Card (Minimum 250 $, £, € or the equivalent in local currency): Visa, Mastercard, Visa Electron, Diner’s Club, JCB, Maestro International, Carte Bleue, CartaSi, Dankort, Discover Bank, and Laser
Wire Transfer (Minimum 500 $, £, € or the equivalent in local currency): Traders must be given the Transfer Request form by the customer care.
MoneyGram (Minimum 1000 €, $, £ or the equivalent in local currency): OptionFair gives the alternative to fund accounts through one of its worldwide authorized MoneyGram offices. Depending on the users’ country, they may also be able to transfer their funds online through MoneyGram’s website.
Western Union (Minimum 1000 $, £, € or the equivalent in local currency): OptionFair gives the option to fund accounts through one of our international authorized Western Union offices. Depending on the users’ country, they may also be able to transfer their funds online through Western Union’s website.
Electronic Wallets (Minimum 250 $,£, € or the equivalent in local currency):
A variety of eWallets are supported, including WebMoney, Neteller, Qiwi, Abaqoos, and CashU. Available wallets may vary according to location.
A new addition to the methods of deposit and withdrawal of funds with OptionFair is through its new Elite Traders Club Card. This is a MasterCard prepaid debit card that allows its holder to transfer funds to and from their trading account quickly and securely. Cardholders can get up to 1.5% cashback on every trade. They can also consolidate their finances and optimize their account management by using the card for each deposit or withdrawal at OptionFair. It is available only for US Dollars and Euros.
Platform & assets
The OptionFair trading platform is a customized proprietary platform containing the usual option trading methods and clear functions. It is easy to use and simple to learn. The graph is smaller in area compared to other platforms and the black background makes looking at the platform slightly straining on the eyes. It provides direct connections to exclusive features offered by OptionFair. This includes a Promotions tab and an Elite Club tab, which a user can view without difficulty while they are trading using the platform.
OptionFair.com offers over 130 types of assets for their clients to trade. These are in the form of commodities, indices, stocks, and foreign exchange pairs:
Commodities: Gold, Crude Oil, Silver, Coffee, Copper, Corn, Gold/JPY, Gold/EUR, and Gold/Silver
Indices: Nasdaq-100 Futures, Dow Jones-30 Futures, IBEX-35 Future, SMI-Future, CAC-40 Future, S&P-500 Futures, Nikkei-225 Future, ASX-200 Futures, TADAWUL, Hang Seng Index, S&P CNX Nifty-Future (Singapore), and Tel-Aviv 25
Stocks: Facebook, British Petroleum PLC (BP), IPO. (FB), Telefonica, Barclays PLC, Banco Bilbao Vizcaya Argentaria, Google Inc, France Telecom, Apple Inc, Société Générale S.A, Sumitomo, SONY, Fiat, BNP Paribas, AXA, Vodafone Group PlC, Amazon.com, Nike, Inc., American Express, CITIGROUP Inc, Baidu, Inc., Microsoft Corporation, Coca-Cola Company, IBM, JPMorgan Chase & Co., EXXONMOBIL, Tata Motors Ltd, ICICI Bank Limited, OAO Gazprom, and McDonald’s Corporation
Forex: EUR/USD, EUR/JPY, GBP/USD, USD/JPY, EUR/GBP, GBP/JPY, AUD/USD, USD/TRY, USD/CHF, EUR/TRY, CAD/JPY, EUR/CAD, USD/NOK, NZD/USD, EUR/NOK, USD/ZAR, USD/RUB, EUR/ZAR, EUR/CAD, and AUD/JPY
The OptionsFair mobile application is simple, fast, and secure. It is minimalistic and its elements are properly spaced apart – a striking difference from its PC counterpart. This spacious aesthetic makes certain that the user will not commit any errors in pressing buttons and will be able to execute trades as efficiently and as easily as though they were using the PC platform. The application shows minimal elements at a time, but can switch to entirely different option, while still maintaining its spacious look. The app works with Android and iOS devices and can be downloaded for free on Google Play and the App Store.
The platform is available in English, French, Spanish, German, Italian, Hungarian and Russian languages.
For inquiries or more information about binary options trading, OptionFair offers customer service through live chat. Just click the live chat button on the lower right corner of the page and a representative will be ready to listen and answer. Traders and potential clients may also email through firstname.lastname@example.org. Phone is another alternative. They may call at +44 203 5147067 or at the 10 other hotlines available for different languages, such as Italian, Spanish, French, German, Arabic, Russian, Polish, Hungarian, Romainian, and Lithuanian. The customer service live chat and hotline are available only on weekdays and during business hours. Email response time is within 24 hours.
Pros & cons
OptionFair provides daily market highlights and market analysis, and includes early closure element. It offers high returns in only 60 seconds, high refund percentage of 10% to 15%, large bonuses (including the one for the ‘Invite-a-Friend’ program), and many more. It supports mobile trading and gives option for weekend trading. The list of assets is limited, however. It does not support PayPal deposit as well as withdrawal.
Customer Service By:
Live Chat, Email, or Phone
English, French, Spanish, German, Italian, Hungarian and Russian
Customer Service Hours:
Live chat: weekdays & during business hours
Email Response Time:
Within 24 hours
Personal Account Manager:
Customer Care Telephone: