OptionFair is one of the better brokers I’ve reviewed lately.
- They have above average reviews and user-ratings.
- They have more compliments than complaints.
- They’re parent group is TechFinancials Group, a public company who also happens to be behind the TechFinancial platform.
- They’re licensed by the Cyprus Securities and Exchange Commission.
The biggest downside is they’re not US-friendly. Sorry, my fellow Americans.
Everyone else – keep reading and learn what you get and what you can do when you sign up to OptionFair. We even share some juicy feedback we found from users just like you.
- Bank Wire
Making a Deposit, Bonuses and Withdrawals
Want to make a deposit? Here’s how you do it:
- Credit Card
- Bank Wire / Transfer
- Western Union
(I like how they offer money transfer options – I can’t think of another broker offhand that does.)
One thing to keep in mind when you make your deposit is the amount you invest determines your account level …and the types of bonuses and perks you get.
Here are the details:
- Standard – Min $300 deposit and up to 20% match bonus.
- Silver – Min $500 deposit, up to 40% match bonus and 1% rebate.
- Gold – Min $2k deposit, up to 60% match bonus and 2% rebate.
- Platinum – Min $15k deposit, up to 80% match bonus and 3-4% rebate.
- VIP – Min $50k deposit, up to 100% match bonus and 5% rebate.
As you move up in accounts more things become available to you – SMS alerts, trading strategies and expert sessions.
And there is no demo account – instead they offer 5 free trades. This has a minimum deposit of $250 and a 40x rollover, or 50x for forex trades.
There is no minimum withdrawal amount, which is cool. Keep in mind you only get one free withdrawal per month though, so you’ll want to make it count. You can cash out using the same method you used to make a deposit.
Get Educated on Binary Options at OptionFair
Their education center is in-depth.
It starts with their FAQ section. This answers questions spanning your account, banking and services.
(It’s kind of funny – they have a question asking if they’re a scam. Obviously they say no.)
Their education section includes:
- Video Tutorials – Learn about binary options, platforms, market analysis and strategies.
- Webinars – This is pretty much the same thing as the video tutorials.
- A section on the basics.
- Glossary – Learn what the different words/terms in binary options trading mean.
And if you still have questions? Then get in touch using one of these methods:
- Phone – different number for different languages
- Snail mail
- Live chat
Trading Options and Features
They have more than 130 assets you can trade spanning these categories:
More specifically, here are some of the things you can trade:
Currencies/Forex: EUR/USD, GBP/USD, EUR/JPY, USD/JPY, GBP/JPY, EUR/GBP, AUD/USD, USD/CAD, USD/TRY, EUR/TRY, USD/CHF, EUR/CAD, CAD/JPY, USD/NOK, EUR/NOK, NZD/USD, USD/ZAR, EUR/ZAR, USD/RUB, EUR/CAD, AUD/JPY
Indices: Dow Jones-30 Futures, Nasdaq-100 Futures, IBEX-35 Future, CAC-40 Future, SMI-Future, S&P-500 Futures, ASX-200 Futures, Nikkei-225 Future, Hang Seng Index, S&P CNX Nifty-Future (Singapore), TADAWUL, Tel-Aviv 25
Stocks: Facebook, BP, Telefonica, BBVA, Barclays, Google, Apple, France Telecom, Soc Gen, SONY, Sumitomo, Fiat, Vodafone, BNP Paribas, AXA, Amazon, Nike, CITIGROUP, American Express, Baidu, McDonald’s, Microsoft, Coca-Cola, JPMorgan Chase, IBM, EXXON, ICICI Bank, Tata Motors, OAO Gazprom
Commodities: Gold, silver, crude oil, coffee, copper,corn, Gold/JPY, Gold/Silver, Gold/EUR
- Their minimum trade is $25. This is on the higher end compared to other brokers.
- Expect returns to be in the 65-80 percent range – except for 60 Second trades, which have an exclusive 70% payout.
- You can also get up to 15% in rebates.
- They have an early closure function.
That about wraps it up.
Oh, and there’s no software to download. You can trade directly from their site or use their apps and trade from your iOS and Android phone and tablet.
Here are some of the things I like and dislike about them:
- Get up to 15% in rebates
- Get up to $150 when you refer a friend.
- They have an early closure feature (this is a great way to minimize your losses).
- They run (or are still running) neat contests where the people that achieve the most success trading win prizes valued as low as 3k to as much as 6.5k. The weekly prize pool is worth 25k.
- There is no minimum withdrawal amount.
- You get one free withdrawal per month.
- I like that you can get a deposit bonus for only depositing $50 more than the minimum.
- They don’t accept US customers. (These brokers do.)
- Their minimum trade is $25 which is pretty high – the highest I can remember seeing.
Pros & Cons
These guys seem to be a pretty solid group. I’ve found very little in the way of complaints – most of the feedback has been positive.
I also could confirm that Option Fair are good broker. I deposited with them few weeks ago and have absolutely no complains till now. Everything is fine and their platform is quite good and unique. I will post later on my experience with it! (Source)
I’ve been trading with this broker for awhile. Good and reliable broker. On the downside- low ITM. Very straight forward broker, to serious guys. (Source)
I’ve also seen OptionFair spend time in their own thread on BOTS. Many brokers have not done that, especially in threads where posters share the problems they’re having – a good opportunity for any company to swoop in and save the day.
All in all, I think these guys are worth checking out. They have minor downsides, but what company doesn’t?
Now if only they accepted US customers…