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Payout: 85%
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Full Review

A Review of OptionFair

Introduction

Originally owned by Mika Holdings Inc and operating from Cyprus, OptionFair is now managed by the Tradefinancials Group. The brand operates out of Cyprus but is now on the path to getting strategic licensing in Europe and other jurisdictions.

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 optionfair

OptionFair’s Trading Platform

 

Payouts and Expiry Times

Payouts on OptionFair typically start from 65% and terminate at 85%. This is because of the loss percentage return on trades that allow traders to get back some of their capital in the event of a trade ending out of the money. For instance, a trade with an 85% payout rate comes with 0% loss return, but a trade with a payout of 65% comes with a 15% loss return. Payouts also depend on the asset traded and the expiry time chosen. The High/Low, Touch/No Touch, Short Term and conventional Boundary trades come with this payout schedule.

For the high yield trades (High Yield Touch and High Yield Boundary), payouts are typically between 380% and 400%.

The expiry times available on Optionfair are:

a)    Short Term (60 seconds): Expiry time is one minute.

b)    The High Yield Boundary/Touch options are weekly options, available from Saturday to Sunday and expiring the next Friday.

c)     For other trade types, the least expiry is 15 minutes. Other expiry times are 30 minutes, 45 minutes, one hour, 90 minutes, 2 hours, 4 hours and daily.

Bonuses and Promotions

The promotions and bonuses are divided into welcome bonuses and special/seasonal bonuses.

Welcome Bonus: This is graduated according to the deposit amount/type of account. Standard Account holders (less than $500) get 10% bonus on the deposit amount. Gold Account holders ($500 to $999) get 20% bonus, while Platinum Account holders ($1000 and above) get 30% bonus on their deposits.

 

Seasonal Bonus: There are two special bonuses/promotions on OptionFair. There is a Refer a Friend bonus worth $50 per referred trader who opens an OptionFair live account and funds it. A maximum of 5 referrals can be made and the referring trader gets the $50 paid into his live trading account.

The second is the various seasonal promos awarded at the New Year, Easter, Xmas, etc or at special times when the markets are experiencing hefty volatility. The promos differ from year to year and the exact promotion currently in season is promoted on the OptionFair website.

 

Asset Index

Assets that can be traded on the OptionFair platform are:

a)    Currencies: EURUSD, GBPUSD, EURCHF, USDCAD, USDCHF, EURTRY, AUDUSD, EURCAD, CADJPY, EURNOK, USDNOK, USDJPY, GBPJPY, EURGBP, EURJPY.

b)    Indices: CAC40, FTSE, NASDQ100, XETRA DAX, NIFTY-futures (Singapore), ASX-200, DJ30 (Dow Jones), Hang Seng, Nikkei 225, IBEX-35 (Spain), S&P500.

c)     Stocks: France Telecom, Sumitomo, Societe Generale, Facebook (FB), BP, Apple, Barclays, SONY, Google.

d)    Commodities: Crude oil, silver, gold.

 

Trading Tools

General

There is an Early Closure function which allows traders to close trades early (i.e. before expiry). Any profits made are usually reduced to take care of the premium incurred for exercising the early closure.

There is a free binary options educational e-book available for download. In addition, webinars are held from time to time on OptionFair.

Technical analysis

A line chart is available beside every active trade on OptionFair. This shows the price of the asset vs expiry time, and traders can use it to monitor their trades. Experienced traders can even perform rudimentary technical analysis with this chart.

Fundamental analysis

In addition to a price feed ticker, there is an RSS News feed for traders to evaluate market events with. These are provided courtesy of Reuters.

 

Deposits and Withdrawals

For deposits and withdrawals, traders have the following options:

1)    Credit/Debit cards.

2)    Moneybookers

3)    Bank wires

4)    Western Union/Moneygram.

Minimum Deposit

For credit and debit cards, $250 is accepted as the minimum deposit. This is the same amount accepted for Moneybookers transactions. $500 is the minimum deposit for bank wires, while Western Union deposits must be made with at least $1,500.

Maximum Deposit

There is no maximum deposit limit for deposits on OptionFair.

Minimum Investment

Minimum investment per trade is $25.

Maximum Investment

Maximum investment per trade is $1000.

Deposit Conditions

Before deposits can be made with credit cards, the card in question must be verified. This is done by scanning the front and back of the card (with the relevant card numbers covered) and sending to the accounts department on OptionFair by email.

Withdrawal Conditions

Only one free withdrawal is allowed per month. Additional withdrawals in a month are charged $30, excluding fees that are paid for depending on the payment method.

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Support

Customer support is available in the following ways:

–       Live chat

–       Email: [email protected]

–       Phone: +35725503232 (operations centre).