OptionFair Review

OptionFair logo

For many, OptionFair is one of the best binary option platforms around. Owned by the holding company, B.O.Trade Financials, OptionFair operates from Cyprus and is regulated by the Cypriot Securities and exchange Commission (CySEC). Having undergone a facelift recently, OptionFair’s new look is truly striking.

Optionfair website

With a mission to provide traders with a safe and secured trading environment, traders can rest assured that their trading experience with OptionFair will a pleasant and fulfilling one.

Trading Platform

OptionFair prides itself as being different from other binary brokers in the industry. One thing is for sure, they are truly living up to their reputation. For starters, their platform is unlikely any of the platforms that we find on the internet. This is because OptionFair uses the trading platform that is developed by its sister company, TechFinancials. In case anyone is wondering, TechFinancials happens to be a leading technology and service provider for the binary options trading industry. The platform that they designed and developed is said to have the best user interface around.

We tend to agree that the interface is probably the most sophisticated that we have seen so far on any binary platforms. Despite the high tech look, the platform is remarkably simple to use. Although the functionality is similar to the previous platform, the new facelift has definitely brightened things up.

optionfair platform

Unique Features

Among the things e love about OptionFair’s trading platform is the neat placement of the tradable assets on the left side of the trading platform. Traders can immediately choose from long list without having to take their eyes off from the chart. On the immediate right, we can find the “Trader Choice” bar. This is definitely a useful tool to have if you are thinking of trading market sentiments.

Trade Types

The range of trading contracts at OptionFair is pretty impressive too. Apart from the traditional High/Low options, we get One Touch Option, Boundary Options and Short term Options. Short term options come with 3 different expiry times, 600 seconds, 120 seconds and 300 seconds.

Trading Accounts

OptionFair is one of the few binary brokers around that offer traders a choice of 5 different types of trading accounts. These include:

  • Standard Account (Initial Deposit $250)
  • Silver Account (Initial Deposit $500)
  • Gold Account (Initial Deposit $2,000)
  • Platinum Account (Initial Deposit $15,000)
  • VIP Account (Initial Deposit $50,000)

Payout Ratios & Bonuses

On average, the payouts at OptionFair are around81% but can go as high as 85% which is about the current industry standard. Of course, the exact amount of returns that one can expect is dependent upon the type of asset and trading contracts traded. For failed trades, OptionFair still offers traders a rebate of 10 to 5%.

If you are the type of trader who looks for bonuses, you won’t be disappointed with OptionFair’s offerings. Their welcome bonuses starts from 30% for the Standard account and goes up to 00% for the Platinum account. The VIP account bonus rate is not advertised but it is expected that the figure is higher than 100%.

Asset Index

Overall, there are more than 70 different types of underlying assets at OptionFair. This is a big increase from the last time when we reviewed OptionFair.

 

Commodities

Forex

Indices

Stocks

CoffeeCopperCornCrude OilGoldGold/EURGold/JPYGold/SilverSilverAUD/JPYAUD/USDCAD/JPYEUR/CADEUR/CADEUR/GBPEUR/JPYEUR/NOKEUR/TRYEUR/USD

EUR/ZAR

GBP/JPY

GBP/USD

NZD/USD

USD/CAD

USD/CHF

USD/JPY

USD/NOK

USD/RUB

USD/TRY

USD/ZAR

ASX-200 FutureCAC-40 FutureDow Jones-30 FutureFTSE-100 FutureHang Seng IndexIBEX-35 FutureNasdaq-100 FutureNikkei-225 FutureS&P CNX Nifty-FutureS&P-500 Future

SMI-Future

TADAWUL

Tel-Aviv 25

 

Amazon.com, IncAmerican ExpressApple IncAXABaidu, Inc.Banco Bilbao Vizcaya ArgentariaBarclays PLCBNP ParibasBritish Petroleum PLCCITIGROUP Inc

Coca-Cola

EXXON MOBIL

Facebook

Fiat

France Telecom

Google Inc

IBM

ICICI Bank Limited

JPMorgan

McDonald

Microsoft

Nike, Inc.

OAO Gazprom

Société Générale S.A

SONY

Sumitomo

Tata Motors Ltd

Telefonica

Vodafone

 

Customer Support

With any broker, reliable customer support is always important it is how most of them get judged by the traders. Recognizing this, OptionFair goes through great length to provide the best of what they can offer in this area. Besides from having properly trained and professional staff attending to their clients, OptionFair also made available their customer support services in 13 other major languages.

 Reliability

The safety and security of their clients’ money is never been taken for granted. Beside from periodic checks, all internet traffic behind their servers and clients’ are encrypted with 128bit SSL encryption technology.

Furthermore, in the unlikely event that OptionFair become insolvent, their clients’ funds are protected by the Investor Compensation Fund under the control of CySEC.

The Bottom Line

OptionFair have proven themselves to be a proactive broker. As mentioned earlier, they have improved on many of their weaknesses. Their new face lift has also made trading a much more pleasurable and fun experience. Known among traders to be a fair and credible broker, we highly recommend OptionFair to any trader who is on the lookout for a new binary options broker.

OptionFair’s Reliability

Just when everyone is restructuring their business model in the face of increased competition, we find our favourite binary options broker OptionFair is forging ahead of the competition with the revamping of their platform. OptionFair has always been known to be a fair and transparent binary broker among the online trading community. Hence, it is not surprising to find them expanding while other binary brokers are experiencing a contraction with their market share.

So what set OptionFair apart from the rest of the competition? For starters, OptionFair’s trading platform is considered one of the nicest binary trading platforms around. This is no coincidence as their platform supplier TechFinancials, a sister company, happens to be one of the leading online technology and service providers for the online trading industry. It seems like no expense had been spared to ensure that OptionFair’s clients get the best in terms of trading experiences with their trading platform.

On top of having one of the best binary trading platforms around, OptionFair have also ensured that none of their clients will ever be neglected by having their support team be on call around the clock. In addition, the support guys cater to 13 other major languages beside English. In our opinion, OptionFair’s technical reliability is second to none since they have a major tech company backing them up in this area.

Another reason why we rate OptionFair’s reliability highly is the fact that they are one of the few regulated binary brokers around. Operating from the republic of Cyprus underthe holding company B.O. TradeFinancials, OptionFair is regulated by the Cypriot Securities And Exchange Commission (CySEC) under the license number 216/13. The fact that they are regulated by CySEC means clients of OptionFair can file a claim for compensation for up to 20,000 euros with the Investor Compensation Fund in case OptionFair becomes insolvent. Of course, it is unlikely that OptionFair will become insolvent but it is always better to safe than sorry at the end of the day.

Another thing to note about OptionFair is the fact that this broker is proactive and customer oriented. We know this for a fact because since our last review of them, they have taken steps to rectify the area of their platform that we have found lacking.  It is rare for traders today to be able to find a binary options broker which comparable to OptionFair in terms of quality of services as well as reputation.

Pros

  • Exciting Choices of Trading Contracts
  • High Bonuses
  • High Payouts
  • Multiple choices of trading accounts
  • Round the clock Support
  • Well Designed Trading Platform

 

Cons

They are as perfect as any broker can get. The fact is, they improved on their weakness since we last reviewed them a few years ago.

OptionFair User Comments

1.     Love their New Look!

Never a dull moment trading with them

Pro: – Fun and exciting Broker

Con: – Pity that they don’t have pair trading

2.     Best Binary Broker Around

So far, they are the best binary options broker in the market

Pro: – Reliable and Dependable Broker

Con: – No Complaints here!

3.     They have 24/7 Support

You can always depend on them to be on hand to help you if you have any problems.

Pro: – Professional and round the clock support

Con: – Wish they provided more assets

4.     Great Selection of Assets

Good market coverage with their asset list

Pro: – Wide Choices of Popular Assets for Trading

Con: – No Demo account

5.     Can Get To Start Trading Already With Just $250

Reasonably Low initial Deposit

Pro: – Easy to get started with the low minimum initial deposit of $250

Con: – The withdrawal Process seems a little vague