OptionFair Review

OptionFair
20% Welcome Bonus
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Overview

A well known brand, Option Fair play on the fairness of their site, which baring in mind the reputation binary options is a smart move, as the first thing going… more

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Details

Broker OptionFair
Website URL www.optionfair.com
Founded 2009
Headquarters Limassol, Cyprus
Support Types Live chat , phone (local fee) , email
Languages English , Arabic , Spanish , Italian , French , German , Lithuanian , Hungarian , Romanian , Russian
Trading Platform TechFinancials
Minimum 1st Deposit $250
Minimum Account Size $250
Minimum Trade Amount $10
Maximum Trade Amount $1,000
Bonus 20% Welcome Bonus
Payout Up to 85%
Free Demo Account Yes
Regulated Yes
Regulation Cyprus Securities and Exchange Commission
Withdrawal Methods Credit/debit card , wire transfer , Western Union , MoneyGram , Neteller , WebMoney , Qiwi , CashU , Abaqoos
Number of Assets 40
Types of Assets Forex , Commidities , Indices , Stocks
Option Types High/Low , No Touch , One Touch , Boundary , 60 Seconds , 30 Seconds
Account Currency GBP , USD , EUR , HUF , RUB , CYN
US Traders Allowed No
Overall Score 8

Pros

  • Licensed Well Established

Cons

  • No Demo

Full Review

A well known brand, Option Fair play on the fairness of their site, which baring in mind the reputation binary options is a smart move, as the first thing going through the mind of a new player should be is the binary broker I’m registering with a scam?

Although not yet licensed with the UK Gambling Commission they are nevertheless licensed by the Cyprus Securities and Exchange Commission, and although a UK license would be preferable at least they are regulated unlike many fly by night operations. Their client funds are maintained safely in segregated accounts with major European banks.

A quick look at the footer of the site will show you that all the information that you need is easily accessible, again, something missing from many binary brokers’ sites. The company’s USP is that they have no hidden costs, and again is a good start, as clarity is something which is paramount in an industry where many of its ‘sharks’ hide behind misinformation. The do however have a charge for any more than one withdrawal made in a month, which is arguably fair play when considering the charges other brokers have for any withdrawals full stop.

The minimum trade of $10 means that it is suitable for newbies to find their feet in the early days of trading. Although a demo account is available it is important to remember that there is a psychological factor to negotiate once trades move from virtual to real cash, and so it is good to start with low trades to help traders ease through the phase without breaking the bank.

The demo account is available only after the first deposit, which is a minimum of $250. Again, this is a common practice with many brokers, although eventually those that do offer free no deposit demos will be leading the field as the industry gets even more competitive. The account is available for 5 days which is long enough for a new player to familiarise themselves with the interface, however if anyone thinks five days is long enough to learn about the markets they are in a nasty shock.

The support is OK, chat was answered after five minutes (1400 GMT), but as usual, the ‘rustling of the manual’ could be heard, but, at least they answered. The maximum trade amount is capped at $1000 which means this is not a high roller site, although the site appears to be geared towards gamblers rather than dedicated candlestick watching traders. Overall the platform is easy to use, offers referral bonuses for their traders, and its parent company is listed on the L.S.E., which means its probably here to stay.

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