OptionFair is owned by B.O. Tradefinancials Ltd which is located at 1, Kosta Hadjikakou, Kyriakos Tower, 1st Floor, Agios Athanasios, CY-4107 Limassol, Cyprus. Being located in Cyprus, they are regulated by the CySEC under license number 216/13 since 27/09/2013. The address for OptionFair’s registered headquarters is Ioanni Styliamou 6 2nd Floor, Office 202 2003 Nicosia, Cyprus. In a recent development (March 2015), OptionFair (as part of TechFinancials) has made an IPO and is now the first binary options broker listed on the London Stock Exchange.
Is OptionFair a Scam?
OptionFair is not a scam. OptionFair were among the pioneers of the binary options industry as they launched their unique trading platform back at 2010 and already sold the trading platform to more than 5 brokers, some of them are much known binary options brokers (the platform is now called “Tech”). Unlucky for OptionFair, some of those brokers were probably better marketers as they’ve already claimed a stable status in binary options trading. BinaryOptionsthatSuck.com team has and still monitors those brokers including OptionFair for over 3 years now, and we are finally pleased to announce that OptionFair is back, alive and kicking. When I first review that broker over3 years ago, I was extremely pleased with the technology of this platform, including the short expiries and high profits. The fact that OptionFair is also the platform operator and owner only triggered me more to try and understand why other brokers, one of them is actually recommended by Bots.com, became more reputable. Other issues like withdrawal process, Bonus amounts and wagers, customer support and platform technology are much more important to me than a regulation stamp. I can honestly say that OptionFair really do qualify to be a recommended broker if taken those aspects of binary options trading into consideration, as I think they should and must.
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Editor’s Note – Why OptionFair Doesn’t Suck in 50 Words
Firstly, OptionFair isn’t only a binary options broker, it’s the whole package- you get a broker and an original trading platform. I like it. Secondly, I had a good experience with OptionFair – they’re fair with their customers. Broker is regulated and in business for a long long time, trusted no doubt. Great News – OptionFair, Part of TechFinancials Group, Lists on London Stock Exchange.
Why does OptionFair Suck in 50 Words
OptionFair offers on a smaller amount of assets than the average. Expiry times are also shorter, nevertheless, all assets return’s are above the average. I would have preferred more assets available to trade but then again, the shorter expiries and good return could make a trader a lot of money in no time. Long time in business but really doesn’t move forward.
Should I Open an Account with OptionFair?
OptionFair trading platform is quite different from most other Binary Options brokers since its trading section is organized and based on the expiry times of assets. The first assets on the asset column are assets that about to expire while the last assets are only expired on the end of the day or the week depends on their availability. Traders can easily view the next assets that about to expire or simply rearrange the asset list so they can locate a later expiry time much easily. Some people say that OptionFair really took the Binary Options time variable to the limit as it seems like they have given more thought in time variables then in variety. Another great advantage of OptionFair is the above average In-The-Money return; OptionFair return is up to 85% for a wide range of assets while the average return is around 80%(!). The only downside of OptionFair Suck, in my opinion, is the below average assets variety. While trading with OptionFair you may notice that the table is changing constantly since the expiry times are sometimes very short. There’s less attention to the asset itself, and although OptionFair provide info about the asset, the only thing that really matters is the expiry time and the return. This trading environment could put a lot of pressure on investors without any strategy or basic experience. Binary Options trading require research that’s based on a certain strategy to generate profits. Choosing between Call/Put just because the chart is going up or down is not considered a strategy of course. OptionFair made Binary Options trading a bit faster and profitable in theory, but less thinking and strategy making. Pressure is on as the table changes every 15 minute and the profits are as high as 80%. Beginner traders should be very aware. Experienced traders could make very high profits in a short amount of time with OptionFair, but only if they are trading with a specific strategy and a based knowledge of the market. It’s fair to say that OptionFair created a short time high risk and high profits environment for experienced traders or even risk taking beginners.
I bet you noticed that OptionFair recently changed their website appearance. I think a change is good as long as it brings a breath of fresh air without messing with the overall functionality of the site. Well, OptionFair is doing more than that because they actually manage to improve the looks and the functionality by creating a more fluid experience for the user.
I don’t really know what the difference between Fuchsia and Candy Pink is nor if these colors are even similar but the guys that worked on the new OptionFair website did a great job at combining the colors in a way that doesn’t hurt my eyes if I look at the platform for a long time. It seems crisper and overall it looks like more work has been put into it compared to the old version but the thing I like most is the way it is organized now. I see a lot of brokers with poorly organized websites and I consider this a hint about their level of professionalism. Would I want to give my money to a broker that doesn’t show enough interest for their own website? Not really, because that just shows me how little they care about their customers. Well, the exact opposite is true for OptionFair’s new website. They saw room for improvement and they…improved. The site was already a good looking one but they made it better, proving once again why they are one of the top brokers in the business.
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BOTS.com always advice potential traders to look for any information regarding the specific broker they’re looking for before depositing. What we do is simply search several search engines about OptionFair complaints, scam, frauds, etc. It is easy to do, harder to determine what’s really true, but don’t worry cause we’re here to help! We did found some very interesting comments about OptionFair in one forum; apparently some people weren’t satisfied with the number of trading tools. Other were comments came from people frustrated by the fees charged, but overall, nothing really bad about OptionFair.Also captured a few positive comments, a very uncommon thing(:.
I always prefer a low bonus – OptionFair definitely match my needs. For a 300$ max deposit you’ll receive a 10% bonus, for higher amounts- between 20-30%. The bonus wager is 30-40*bonus, a fair wager for a low bonus. Recommended.
Deposit is always an important issue, but here at BOTS we care more about the withdrawal. It’s easy to deposit, harder to withdraw as it turns out sometimes. When it comes to OptionFair, the limit for withdrawal is similar to most brokers in the industry, but when it comes to process time – OptionFair states that normally the withdrawal will be processed within 36 hours (VIP) to 5 days. No problem withdrawing your deposited amount if bonus wager is not fulfilled.
BOTS are always trying to think out of the box, therefore when looking for extras is looking for those things that makes one broker different then all others. What we liked about OptionFair are:
- 36 hours withdrawal process for VIP
- High Profits – up to 89%
- Real Live Quotes – Saxo Bank and Leverate
- No Touch Options
User Friendly 18/20
OptionFair platform operates on a unique 100% web based platform, with no need for any software to be downloaded. OptionFair website is modern and very elegant; navigating between sections and the trading process is simple and very friendly. The trading process is simple and very friendly to use. Live information about the asset and other charts are provided within a simple click on an asset and appears just above Overall, the FAQ section and glossary are complete and inviting, the trading process is fun and the availability of the site in 13 different languages makes OptionFair a user-friendly environment.
No. of Assets and Expiry time 13/20
Total of 37 Assets: 9 stocks, 12 currencies (forex), 3 commodities, 13 indices. OptionFair variety of assets is average, maybe below average, with room for improvement. The expiry times are good stretching from minutes to a couple of days for most assets times, mostly shorter expiries.
Commissions, Support and Effective return 18/20
OptionFair don’t charge any fees or commissions from investors when they first deposit or purchase options. Withdrawals are charged with a 30$ after more than one transaction per month. 1 free wire transfer on month, more- 30$ fee. OptionFair support is available via 5 international numbers- in English, French, Italian and Spanish or via email. The live chat service was very quick during most hours of the day and weekends. The effective return is among the average-high in the industry- 70-89% In-The-Money with a 75% average return for most assets. The Out-of-Money refund is between 0-5%.
Deposit, Payment and Bonus 18/20
OptionFair Minimum deposit is average – 250$ or 250€. Deposit is available via C.C., Wire transfer, Cash-U, moneybookers, and more. Withdrawals are generally available via the same methods, with an exception- if the value of the withdrawal exceeds the initial amount, the rest of the money will be sent via wire-transfer. OptionFair offer a bonus of up to 10% for up to 500$, 20% for 500-1000$ and 30% for more. Ask representatives for higher bonus.
Website Extra’s 13/20
OptionFair innovative platform features some new extras. Except of the regular High\Low trading, OptionFair has 2 more ways to trade- One touch option, lets the trader decide whether he thinks an assets will touch a certain value before expiration time or not. The second extra is the Boundary option for a 70% return if an asset is in\out a certain boundary. OptionFair provides charts and information from Yahoo! Finance about each asset. Last, OptionFair now provides 60 Seconds options. Update – after 2 years in business, seems like this broker doesn’t really go forward.
OptionFair rating: 80/100 + Regulation (+3) = 83
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