OptionFair has stopped trading. The firm is no longer accepting new accounts.

OptionFair became unique in the world of binary options brokers in early 2015 when they became a publicly listed company. Their sister firm, TechFinancials Group, is now listed on the London Stock Exchange’s AIM market and OptionFair sits under the same umbrella. This is very important for UK traders, as it means that operations – particularly funding – are completely transparent, and regularly published to the City. This, together with CySec regulations and MiFID compliance, makes OptionFair one of the most trusted binary brands in the UK.

In addition, the OptionFair service has been designed with the following trader goals and values ​​in mind:

  • High Payouts : Huge returns of up to 91% are possible in certain markets.
  • 60-second expedition : Offers traders the opportunity to make profits quickly with options that expire in just one minute.
  • Fairness and Transparency : Traders can choose either a single option to ensure secure exchanges in pricing without spreads, fees or commissions.
  • Trade Options : Traders are given the option to close the trade before the end of the agreed period to limit risk or lock in profits.
  • Pleasant trading : A clear and intuitive platform creates a comfortable trading experience.
  • Released, segregated funds : Merchant account funds are in a segregated account that is separated from the business itself.

 

 

As the purpose above illustrates, the firm aims to ensure that traders can trade “safely, and profitably from trading various assets”. They focus on fairness, transparency, choice and a fun merchant experience.

Here are some other key details about OptionFair;

  • Demo Account – No
  • Minimum Deposit – £250
  • Minimum trade – £25
  • Signal service – Yes
  • Bonus Details – Between 30% & 100%. Or 5 risk free trades.
  • Mobile App – Yes. Android and iOS devices are covered.

Trading Platform

OptionFair offers a bespoke platform (written by TechFinancial) that is fast and easy to use. It offers an easy route for any trade. The layout is unique, but works well. Certain elements are also configurable.

The trader’s first choice is the type of trade. These are listed on the  left side of  the trading platform, in a simple tab style menu – the selected option is brought to the forefront. Below are any more trading options – for example, the ‘  High / Low  ‘ option offers a traditional high / low, but also an above / below option for larger payouts.

The asset filter is then the next option to be made – the list below will default to the most popular trades, but can be filtered by asset category, for example stocks, currencies, commodities or indices. The list will update automatically, and default to the next expiration time. Any of these assets can be selected, and when selected, the information displayed on the right side of the trading area will be updated with the current information for that asset. The timeout can be selected and amended as required and is accompanied by a ‘countdown’ when the approach expires.

The middle and right part of the trading area is dedicated to trading buttons, asset price graphs, and trading information areas. The trading area describes and explains the terms of any potential trade. So the ‘High’ or ‘Low’ button is central, with the strike price between the two. (This layout may change phrasing depending on the type of option selected).

Amounts and payouts are listed to the right of the trade button only. Potential payouts will be entered automatically when field totals are completed. There is also an indicator of whether the trade will be ‘easy’ once opened. On the right is a graph of asset prices. This can be expanded if needed (via the small graphics icon, at the top right of the graphics area). There is also  a trader’s option bar  that shows the current sentiment on that particular asset.

 

 

Below the graph is the  trading area  . This will list all open trades, and track their performance. From here, it is also possible to edit trades, using OptionFair features, such as the ‘  Early closing ‘ price  or the latest tournament standings.

Trader’s Choice

OptionFair offers four types of trading;

  • High / Low – Traditional binary options – does the asset price finish higher or lower at expiration? These options also include ‘Above / Below’ which offer larger payouts but also require larger price movements to settle in the money. The ‘above’ and ‘below’ values ​​are set from the strike price, and as the name suggests, the asset price must finish above or below this value to settle in the money.
  • Short Term – As ‘High / Low’ but with a very short expiry time, from 5 minutes to just 30 seconds.
  • One Touch – Does the asset price ‘touch’ a preset level? Either trading side can be selected (Touch or No touch). OptionFair also offers a High Yield Touch option, where the preset level is further from the strike price, but has a payout of over 200%.
  • Limits – Limit trades have two preset levels, one higher and one lower. This binary option is either the price of the asset will finish within (  In  ) preset levels, or outside them (  Out  ).

The asset list on OptionFair is excellent, with a wide range of the most popular indices, currencies, commodities and stocks. Other firms provide a more comprehensive list, but only obscure assets that are not available on OptionFair and this keeps payouts high because the liquidity justifies providing a market for those assets.

OptionFair Mobile App

OptionFair delivers a free trading app, compatible for both android (version 4.0 and above) and iOS devices (Now optimized for iPhone 5). The app has received positive feedback so far and delivers a great tool for traders who want to stay up to date on their trading on mobile devices.

The trade layout is clear and user-friendly – ​​the trade buttons are cleverly placed, and the ‘scrollable’ amount indicator allows traders to enter trade amounts with a swipe. Various types of options are available in the application, such as different types of assets. Asset price graphics also work well in mobile layouts.

Payment

OptionFair typically offers a maximum return of 81% on options. This rate can change depending on the asset and the time of expiry. Higher paying options are available, for example  Above / Below  binary options can pay around 200% to 300% if the asset price moves enough. Payouts at OptionFair are generally better than rival brokers.

Withdrawal and deposit options

An OptionFair account can be opened without requiring a deposit – but a minimum deposit of £250 must be paid  before  any trades can be placed.

OptionFair offers a variety of deposit options. Some have certain deposit limits, so check the details first;

  • Credit card – minimum deposit £250
  • Wire transfer – minimum deposit £500
  • Western Union & MoneyGram – minimum deposit £1000
  • eWallets – Skrill and Neteller have a minimum deposit of £250. Other eWallet brands are also taken on OptionFair, including iDeal and WebMoney, as well as some region-specific brands.

Maximum deposits are limited to £30,000 per day, and £150,000 per month.

Withdrawals can be made at any time – and there is no minimum withdrawal amount. One withdrawal per month (every 31 days) is free, however there is a £30 fee for subsequent withdrawals in the same month. Wire transfers may also incur charges due to banking costs.

Withdrawals are usually processed within 5 days by OptionFair. The bank may require further processing time. This is not the fastest production recovery in the sector, and something OptionFair can work on. Withdrawals still in ‘pending’ status can be canceled – funds are immediately returned to the trading account. Merchants can ensure that withdrawals are not delayed longer than necessary by ensuring that the verification step has been completed.

Other features

OptionFair offers its customers the following additional features and benefits:

  • Elite traders club – Enjoy cash rebates on trades of up to 1.5%, plus other membership benefits including the Elie Traders Club Card.
  • Fair Signals – Receive alerts on the most profitable trades.
  • Standard, Silver, Gold, Platinum and VIP account types – Offer different levels of profitability, including reduced fees, increased payouts of up to 5% and greater access to educational resources. Entry into each account type only requires a larger initial deposit – no fees.
  • Extensive educational materials
  • Tournament – ​​Win monthly monthly prizes just by trading. Weekly prizes totaling over $100,000 are awarded every month.