OptionFair Review

OptionFair ReviewOptionFair are wholly-owned by TechFinancials, a company listed on the London AIM so therefore have to be an honest broker.

OptionFair, due to the due diligence that TechFinancials’ NOMAD has had to do prior to the company’s AIM listing, the senior staff are well known, indeed Chris Bell, ex-CEO of Ladbrokes, is their Chairman.

TechFinancials Viability

TechFinancials share price is languishing at around 11p which means a market capitalisation of £7.21m, not a lot for a company that takes client money. Unless TechFinancials Far East project generates a surplus quickly it is possible that the Company will need to raise more capital, yet with a valuation of just £7.21m it is going to be difficult.

Trading Platform et al

The OptionFair platform is a decent platform so those still interested in trading as a client of OptionFair, read on. This site no longer recommends OptionFair so make your own way to their website as there are no links here.

Trading Functionality

The TechFinancials platform is probably the more advanced binary options platform at present on the market, certainly it is more advanced than the other platform providers offerings and even offers a simplified Forex spot trading system.  

OptionFair Review

OptionFair Trading Screen

OptionFair Payouts and ROIs (Return on Investments)

Returns on trades on OptionFair usually range from 72% to 85% for the common options offered, which are relatively high compared to many other providers. For people who are willing to take risks to gain the highest return there is the possibility to speculate with High Yield Boundary and High Yield Touch options where returns up to 300% can be reached. VIP traders receive additional percentages on top of the regular return, according to their account type. 1% extra for a silver account, 2% extra for a gold account, 4% extra for a platinum account and 5% extra for VIP status.

OptionFair Bonuses and Promotions

There are frequent bonuses offered by OptionFair, and one such is the welcome deposit bonuses for first-time users up to 100% of the invested amount. But beware, it is highly unlikely that the benefits of the bonus will translate in increased profits that one can withdraw owing to the terms of the bonuses. Each month there is a general promotion for all new traders and a general promotion for the ‘existing’ ones OptionFair also sends out weekly offers to traders that vary depending on the current marketing and financial news. On top of that there is every week a trading tournament. One week a Binary Options trading tournament, the other week a Forex trading tournament. VIP traders are given additional bonus offers by their account managers in addition to the regular bonuses. There are also two special promotions on OptionFair that are permanently available for traders to take advantage of. The first is their ‘Refer a Friend’ promo that gifts $50 to any OptionFair trader who refers their friends to OptionFair. As traders are able to invite up to 5 friends, there is a $250 gift potential.

Asset Index

One of the most important focuses in OptionFair is their dedication towards ensuring that traders have a wide variety and profitable assets available the OptionFair platform. While new assets are frequently being added, the current assets offered include:

  1. 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
  2. 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
  3. 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
  4. Commodities: Gold, silver, crude oil, coffee, copper,corn, Gold/JPY, Gold/Silver, Gold/EUR

Expiry Times

  1. The High Yield Options have up to one hour as expiry time. Returns up to 300%.
  2. The expiry for other trade types varies but start from 15 minutes up to end of the day / week / month.
  3. Option Fair offers ‘rollovers’ for an additional fee.
  4. OptionFair offers early closure to guarantee profits or to limit loss.
  5. OptionFair offers professional candlestick graphs on it’s platform in order to apply your preferred studies and strategies. 1 click on the ‘graph icon’ in the right upper corner of the trading slip to make this appear.
  6. FX platform. Optionfair added a simplified Forex platform. Traders can now choose to trade BO, FX or both at the same time. Come check out the future of online trading.

Additional Tools and Offers Provided by OptionFair

Perhaps one of the most refreshing traits of OptionFair is that they genuinely are trying to give the best trading experience possible. They show this through offering educational tools such as a free eBook about trading Binary Options on the OptionFair website which is available as a PDF download. There are also webinars given in different languages which are free of charge. The Early Closure function allows traders to take profits from their trades before they expire. This service attracts a little cost but is something that traders often find quite useful as a means of protecting profits prior to any adverse market events. Another good example is that with the ‘no touch option’ OptionFair offers you to trade both sides of the option proving fair pricing.

OptionFair Deposits and Withdrawals

Several methods exist to withdraw funds from the OptionFair platform. The withdrawal methods can also be used to fund accounts, and traders are expected to use the same method for deposits and withdrawals.

  • Traders who wish to use a credit card/debit card are allowed a minimum deposit of 250 (USD, EUR or GBP). The following cards are accepted: Visa, Visa Electron, Mastercard, Mastercard Debit, Maestro International, JCB, Carte Bleue, Dankort, CartaSi, Laser, Discover. A scanned copy of the front and back of the card must be submitted for verification purposes.
  • Neteller / Skrill, minimum deposit is 250 (USD, EUR or GBP).
  • Minimum deposit with Ukash or CashU is 250 (USD, EUR or GBP). Funding is done by making contact with customercare@optionfair.com for directions.
  • The minimum deposit for bank wires is 500 (USD, EUR or GBP).
  • Minimum deposit for Western Union is 1500 (USD, EUR or GBP).
  • Minimum deposit with iDeal and abaqoos are 250 (USD, EUR)

With as little as $25, traders can open a trade on OptionFair. Investments into a single trade cannot exceed 5000 (USD, EUR or GBP), or it should be requested from your account manager.

OptionFair’s Customer Support

The customer care centre on OptionFair is multi-lingual team catering to a broad range of customers, spanning the globe. Contacting the customer care centre is possible through one of three methods:

  1. Live chat
  2. Email: admin@OptionFair.com
  3. Phone: For sales and support, there are several lines for provision of customer support in different languages.
 

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