OptionFair scam? The answer in our review!

OptionFair review

OptionFair has been around since 2010. Maybe that's why this broker is known for its own original platform and friendly consumer service?

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OptionFair is part of TradeFinancials company that is subject to CySec regulations (license no.: 216/13). While the head office is in Cyprus (1st Floor, Kyriakos Tower, Kosta Hadjikakou 1 4107 Agios Athanasios, Limassol, Cyprus), TechFinancials Group – which is also responsible for the service's platform – can be found on London Stock Exchange (AIM).

As you may have deduced, the broker wants us to get the message that it's all about being fair, which is something I personally support but maybe not in such a "in-­your­-face" manner. Let's leave the assessment to the professionals or clients, shall we? Still, the broker indeed is one of the most reliable and appreciated brokers in the market.

The welcome page makes registering seem kind of necessary, but it is not really the case. Still, registration is quick and painful and no money is needed at the very beginning. The website is quite intuitive, easy­-to­-navigate and the layout is appealing. There are also plenty of reading materials to browse before you make up your mind about the account.

Apart from the binary options, the broker also entered the Forex market with a separate plaform that can be accessed from the same – binary – account. With just one click you can go from the Forex to the binary one and use them both at the same time.

In 2013 the broker was named the best binary options broker in FXEmpire's ranking:

empire

 

 

 

There are five accounts to choose from: Standard, Silver, Gold, Platinum and VIP. Here is a table with all the details:

A Standard account is actually not that standard since you need $250 to start. What do you get for that? A free e­-book, no fees for the first withdrawal and up to 20% bonus. If you want to invest more ($500 with a Silver account), we also get 1% additional profit, a daily overview of the market news, up to 40% bonus, 2 SMS alerts, and access to one strategy, as well as one session with a financial expert a month. A Gold account costs at least $2000 and gets us 2% additional profit, two sessions with a financial expert a month, up to 60% bonus, 4 SMS alerts and 3 strategies. When we pay $15,000, we become Platinum and get even more: 3-­4% additional profit, unlimited access to a financial expert, unlimited SMS alerts, access to 5 strategies, and up to 80% bonus. Still, the biggest benefits wait for those with a VIP account (deposits start at $50,000): everything that was Platinum plus a very high additional profit (5%), as well as unlimited access to strategies.

You can set up your account in the following currencies: USD, EUR, GBP, RUB, JPY, CNY, HUF.

 

OptionFair platform

OptionFair uses TechFinancials platform – when it launched, it was the most innovative platform in the market, which meant that OptionFair was the first one to have one­-touch, no touch and boundary options. It's a standard today, but the fact that the service added the Forex platform and integrated them means that the brand's owners keep on developing and thinking out of the box.

TechFinancials and OptionFair brands are connected and belong to the same company. How do we know that the platform is so well­-respected? It's used by such big players as 24Option, BossCapital or Exbino.

The platform offers the classic high/low options, one­-touch/no touch, boundary, short-­term (60 seconds, 2 minutes, 5 minutes). The return on the classic options – 85% (+5% for VIP accounts), and 350% for one-­touch/no touch and boundary options. The platform is very intuitive and there are many advanced filters to use, which greatly helps with choosing the right asset.

There are 72 assets available: currency pairs, stocks, commodities and indices. The minimum to start – $10.

Every option may be closed before its time, up to 3 minutes from the moment it's been opened and up to 5 minutes until it's supposed to end. When an option opens, a suitable function appears. You can also choose a rollover.

What's also interesting is that you can take part in a monthly trading tournament with prizes up to $100,000. Who's the winner? A trader with the longest run of successful trades.

tournament_con

 

The platform is also available for mobile devices and it retains its full functionality.

OptionFair deposits and withdrawals

There are plenty of deposit/withdrawal options with OptionFair, but Elite Club debit card is the most interesting one: you get to deposit/withdraw your money quickly via ATMs all around the world. To join this exclusive club, however, you need to deposit $5,000 or refer somebody and pay at least $4000.

You can also fund your account using:

  • credit card
  • bank wires (min. $500)
  • Western Union (min. $1000)
  • MoneyGram (min. $1000)
  • Skrill
  • Neteller
  • WebMoney
  • QIWI
  • China Union Pay
  • Abaqoos
  • iDeal

The minimum to deposit: $250. You can withdraw up to $30,000 a day. The minimum investment: $10.

You can use the same methods to withdraw money, except for Western Union where only a bank wire will do.

There is no minimum to withdraw, but only one withdrawal a month is free, the rest costs $30 every time. Payouts are handled within 5 days and you need to verify your account beforehand.

DEMO account

The broker offers access to a demo account, but only after depositing a principal.

Client support

Available from 09 a.m. to 10 p.m. via e­-mail, chat and phone. The service has been translated into 9 languages: Spanish, German, French, Arabic, Hungarian, Italian, Dutch, Romanian and Russian.

Educational materials

OptionFair's education center is well-­developed and solid. There is a news section, a glossary, an economic calendar, as well as a whole subpage devoted to "OptionFair Academy" that contains video tutorials, e­-books in 7 languages and an alert system. For those who deposited at least $500, the FairSignals system is all about binary options signals: you get the name of the asset, the direction and the expiry time. An upgrade also gets us access to sessions with a financial expert.

What's crucial, especially for the beginners, is that the broker offers 5 first transactions risk-free, meaning that you get a bonus that works as a refund afterwards. To take advantage of this offer be sure to contact support once you've deposited money.

Bonus

Bonus up to 100% of the deposit can be only withdrawn when the minimum trading volume requirement has been met (40 times the value of the bonus you received).

OptionFair SCAM?

What's characteristic about the broker is that it's mostly well-­reviewed. There may be unfavorable opinions as to certain functionalities, but not payouts or the way the platform works. It can be said that the broker is "fair" when it comes to the way it operates.

Summary

OptionFair is a well­-established broker who has earned its opinion as a reliable and user-friendly binary options service. While a high deposit is a drawback, the fact that OptionFair manages its own platform, which gained praise from many brokers, is one of the advantages that contributed to OptionFair's high ranking.

Discussion forum and opinions

Forum link

Broker details
Broker’s name OptionFair
Website url www.optionfair.com
Start of 2010
Country of registration Cyprus
Regulation yes, (CySec)
Platform TechFinancials
Markets Forex, Indices, Stocks, Commodities
Options high/low, one-touch/no touch, boundary, short-term
Assets 72
Deposit methods credit card, wire transfer, Western Union, MoneyGram, Skrill, Neteller, WebMoney, QIWI, China Union Pay, Abaqoos, iDeal
Withdrawal methods credit card, wire transfer, Skrill, Neteller, WebMoney, QIWI, China Union Pay, Abaqoos, iDeal
Deposit min. $250 (wire transfer $500, WU and MG $1000)
Min/max stake $10/$5000
Withdrawal min. no minimum
Deposit/withdrawal fee no commission for 1 withdrawal a month, every following transaction: $30
Profit up to 85% (90% for VIP accounts)
Account currency USD, EUR, GBP, RUB, JPY, CNY, HUF
Bonus up to 100%
Failed transactions refund up to 15%
Demo yes, after depositing money
On-line support yes
Languages English, Spanish, German, French, Arabic, Hungarian, Italian, Romanian and Russian
US traders no
Expiry times 30, 60 seconds; 2 minutes, 5 minutes; 1 month
Educational materials e-book, videos, FAQ, training materials, economic calendar
Mobile trading yes

OptionFair rank

  • Platform: TechFinancials
  • Launched: 2010
  • Registration: Cyprus
Withdrawal execution
Platform
Support
Functionality and look
Reliability
Payment methods
Educational materials
Return
Assets
Good

User Rating:

4/5
(1 votes)
  • Platform: TechFinancials
  • Launched: 2010
  • Registration: Cyprus
Withdrawal execution 84%
Platform 92%
Support 86%
Functionality and look 70%
Reliability 92%
Payment methods 86%
Educational materials 82%
Return 92%
Assets 82%
85% Good

User Rating:

81
(1 votes)

Pros
  • Cysec regulation
  • Stable position
  • High returns
  • User-friendly platform
  • Close option button
  • Educational materials for beginners
  • Tournaments
  • Additional forex platform
  • Debit card
  • Binary options signals
Cons
  • Low number of assets
  • High deposit minimum



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