OptionFair became unique in the world of binary options brokers in early 2015 when they became a publicly listed company. Their sister company, TechFin Financial Group, is now listed on the AIM market of the London Stock Exchange and OptionFair sits under the same umbrella. This makes a lot of sense for UK traders, as it means that the operation – especially the finances – is completely transparent and published regularly for the City. This, combined with CySec regulation and MiFID compliance, makes OptionFair one of the most trusted binary options brands in the UK.
In addition, OptionFair’s services have been designed with the following trader goals and values in mind:
- High Payouts : Huge returns of up to 91% are possible on certain markets.
60 Seconds Expiry : Offers traders the opportunity to make quick profits with options that expire in just one minute. - Fair and transparent : Traders can choose from only two options to ensure a price-guaranteed exchange with no spreads, fees or commissions.
- Trade Options : Traders are given the option to close the trade before the deal expires to limit risk or lock in profits.
- Enjoy trading : Clear and intuitive platform creates a comfortable trading experience.
Secured, segregated funds : Money in a Trader’s account resides in a segregated account separate from the business itself.
As the above objectives illustrate, the company aims to ensure that traders can safely trade and make reliable profits from trading a wide variety of assets. They focus on fairness, transparency, choice and an enjoyable trading experience.
Here are some other important details regarding OptionFair;
- Demo account – No
- Minimum deposit – £250
- Minimum trade – £25
- Signal Service – Yes
- Bonus Details – From 30% & 100%. Or 5 risk free trades.
- Mobile App – Yes. Android and iOS devices catered for.
Exchanges
OptionFair offers a bespoke platform (written by TechFinancial) that is fast and easy to use. It provides a simple route to any transaction. Unique logical layout, but works great. Some elements are also configurable.
A trader’s first choice is the type of trade. They are listed on the left side of the trading platform, in a simple tab-style menu – the selected option is brought to the top. Below that are any other trading options – for example, options ‘ High/Low ‘ offers a traditional high/low option, but also an over/under option for larger payouts.
Asset filter then the next choice is made – the list below will default to the most popular transactions, but can be filtered by asset category, e.g. stocks, currencies, commodity or index. The list will automatically update and default to the next expiration time. Any of these assets can be selected and once selected, the information displayed to the right of the trading area will update with the current information for that asset. Expiration time can be selected and modified as required and accompanied by a ‘countdown’ when the method expires.
The center and right sides of the trading area are dedicated to trading buttons, asset price charts, and trading information areas. The trading area illustrates and clarifies the terms of any potential trade. So the ‘ High ‘ or ‘ Low ‘ buttons are the center, with the strike price between the two buttons. (This layout may vary somewhat depending on the selected option type).
Amounts and payouts are listed to the right of the transaction buttons. The potential payout will auto-populate once the amount field is completed. There is also an indicator of whether the trade will be ‘closed’ after opening. On the right is the asset price chart. This can be expanded if needed (via the small chart icon, in the upper right of the chart area). There is also a bar trader options indicating the current sentiment on that particular asset.
Below the chart is area trading . This will list all open transactions and track how they are doing. From here it is also possible to edit trades, using OptionFair features such as ‘Early Closes’ prices or the latest tournament standings.
Trader Selection
OptionFair offers four types of trades;
- High/Low – Traditional Binary Options – will asset prices end higher or lower at expiration? This option also includes ‘Over/Under’ which offers larger payouts but also requires larger price movement to complete the money. The ‘Above’ and ‘Below’ values are placed away from the strike price, and as the name suggests, the asset price must complete above or below these values to end up in the money.
- Short Term – Is ‘High/Low’ but with a very short expiry time, from 5 minutes down to just 30 seconds.
- One Touch – Will the asset price ‘touch’ the preset level? Either side of the transaction can be selected (Touch or No Touch). OptionFair also offers higher Yield Touch options, where the preset is higher than the strike price, but has a payout ratio of up to 200%.
- Boundaries – Boundary trading has two preset levels, one higher and one lower. This binary option is whether the asset price will end within ( In ) previous set levels or outside of them ( Ra ).
The asset list at OptionFair is very good, full of the most popular indices, currencies, commodities and stocks available. Other companies offer a more comprehensive list, but only the most obscure assets are not available at OptionFair and this ensures payouts remain high as liquidity justifies offering a market on asset.
Mobile Options App
OptionFair offers a free trading app, compatible for both Android devices (version 4.0 and above) and iOS devices (Currently optimized for iPhone 5). The app has received positive feedback so far and provides a great tool for traders who want to stay up to date on their trading while on mobile devices.
The trading layout is clear and user-friendly – the trade buttons are well positioned and the ‘scrollable’ ticker allows traders to enter trade amounts with a single swipe. The entire range of options is available on the app, as well as the entire range of assets. Asset price charts also work well in a mobile layout.
Payout
OptionFair usually offers a maximum return 81% for options. This rate can vary depending on the asset and the expiry time. Higher paying options are available, e.g. Binary Options Over/Under can pay around 200% to 300% if the asset price moves enough. The payouts at OptionFair are often favorable compared to rival brokers.
Deposit and Withdrawal Options
An OptionFair account can be opened without a deposit – but a minimum deposit of £250 must be paid before any trades can be placed.
OptionFair offers a wide range of deposit options. Some have specific deposit limits, so it’s worth checking the details first;
- Credit card – minimum deposit £250
- Transfer transfer – minimum deposit £500
- Western Union & MoneyGram – minimum deposit £1000
- eWallets – Skrill and Neteller have a £250 minimum deposit. Other eWallet brands are also available at OptionFair, including iDeal and WebMoney, plus some region-specific brands.
The maximum deposit is capped at £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 the next withdrawal in the same month. Wire transfers may also incur a fee due to bank charges.
Withdrawals are usually processed within 5 days by OptionFair. Banks may then request additional processing time. This is not the fastest withdrawal spin in the field and something OptionFair could work for. Withdrawals that are still ‘pending’ can be canceled – funds are immediately returned to the trading account. Traders can ensure withdrawals are not delayed longer than necessary by ensuring that the verification steps have been completed.
Other features
OptionFair offers its clients the following additional features and benefits:
- Elite Traders Club – Enjoy cashback on transactions up to 1.5%, as well as other membership benefits including the Elie Merchants Club Card.
- Fair Signals – Get notified of the most profitable trades.
- Standard, Silver, Gold, Platinum and VIP Account Types – Offer different levels of benefits, including reduced fees, increased payouts up to 5%, and more access to educational resources. Entering each account type requires only a larger initial deposit – no fees.
- Extensive Educational Materials
- Tournament – Win monthly cash prizes just through trading. Weekly prizes totaling over $100,000 are awarded each month.