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OptionFair Review
Not Trusted Broker By BinaryOptionsThatSuck.com |
OptionFair Overview
| OptionFair |
| Bonus: up to %30 |
| Options Profability : 70-85% |
| Rating: 6 / 10 |
  |
Basics
| Broker Name: | OptionFair |
| Platform: | OptionFair |
| Founded: | 2010 |
| Bonus: | up to %30 |
| Out-Of-Money-Refund: | No |
| US Traders Accepted: | No |
Features
| No. Of Assests : | 23 |
| Regulated : | No |
| Demo Account : | No |
| Deposit Options : | C.C., WireTransfer, CashU |
| Language : | |
| Minimum Deposit : |
Screenshots
Review Last Updated 2012-04-13 22:08:56
Editor’s Note- Why does OptionFair Suck in 50 Words
OptionFair is focused on a small amount of assets with variable but short expiry times, and above the average return. The lack of options to trade limits the fun and harms risk management, but then again, it could make a trader a lot of money in no time. The question is what type of an investor are you?
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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 costumers. Rumors of regulation are in the air, binaryoptionsthatsuck.com will keep monitoring.
OptionFair Full Review- A question of experience and risk taking
OptionFair unique Binary Options platform was on launched on early 2010 as a part of Mika Holding Inc, incorporated in the British Islands and globally located. 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 80%(!). So why does OptionFair Suck? In my opinion, the mix of the time variable and the high return is a bit of casino, or at least not recommended to beginners or inexperienced traders. 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 because the chart is going up or down is not considered a strategy. You can check out our Binary Options Strategies that Suck for more information. The problem is that the expiry times are organized from the shortest to the longest so incase a trader looks for an expiry that ends intraday, he needs to search for it somewhere in middle of the table which makes navigating harder. Binary Options strategy is sometimes based on different assets with different expiry times and therefore, most other Binary Options trading platforms are based and organized on assets and only then their expiry times. 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.
Is OptionFair Scam?
The question that arises from trading with OptionFair is not about profits or accessibility, it’s actually variety and range of expiry times. The returns are defiantly good and the expiry time for the short term is fine, but the variety of assets and overall range of the expiry times is below average. OptionFair only provide 23 assets available to trade which limits variety and only a few assets are available to trade during the week or weekends. Those cons really damage strategy building for more experienced traders, but could also ease it if you know how to play your cards. OptionFair trading platform is potential goldmine for those who don’t need variety or neither longer expiry times. The potentially high profits and the expiry time targeted platform provides a good chance to generate high profits in short time, exactly what Binary Options is all about. For the inexperienced traders who only recently began or about to begin trading the whole short time high profits slogan sounds like a scam, tagging a whole Binary Options trading industry as a fraud. OptionFair is an example of short time high profits trading platform just like Binary Options was at the beginning; small variety, short expiry times, high profits. During the last couple of years many other brokers joined the market and developed less risky trading methods to fit different types of investors. Their progress made the Binary Options industry more acceptable and therefore many novice traders think brokers like OptionFair are scam, since they’re more risky and much faster than the more modern brokers. As an experienced trader I can agree OptionFair is more risky and fast, but it’s not a scam. It’s simply offer a different way of trading which is un-fit with the more common traders who tag is at a scam. OptionFair is not recommended to anyone, but those who want to try their luck with OptionFair could generate high profits in no time.
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OptionFair Complaints
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.
OptionFair Bonus
OptionFair are not big givers when it comes to bonus – between 10-30%. However, we are a little dismayed by the high wager -40* bonus.
OptionFair Withdrawal
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.
OptionFair Extras
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
OptionFair Ratings
Since 2010. Trading Assets- 23 trading Assets. Minimum Deposit -200$, 200€. Payment- Credit cards, wire transfer, CashU. Options Profitability- 70%-85%. Out of money option refund-0-15%. Platform: OptionFair. Languages- 7 different languages including English, Italian, Spanish, Arabic and French. Demo- No.
User Friendly 18/20
OptionFair platform operates on its own 100% web based platform, with no need for any software to be downloaded. OptionFair website is modern and very elegant; navigating between sections and the trading process is simple and very friendly. The trading section is a little too long since the assets are ordered by their expiry times, therefore the list contains certain assets more than once but the expiry times are different. Overall, the FAQ section and glossary are complete and inviting, the trading process is fun and the availability of the site in 7 different languages makes OptionFair a user-friendly environment.
No. of Assets and Expiry time 8/20
Total of 23 Assets: 7 stocks, 9 currencies (forex), 2 commodities, 5 indices. OptionFair main weakness compared to other brokers is the lack of assets variety. With only 23 assets available for trading, OptionFair sits at the bottom of Binary Options industry. In the favor, OptionFair has a wide range of expiry times.
Commissions, Support and Effective return 15/20
OptionFair don’t charge any fees or commissions from investors when they first deposit or purchase options. Withdrawals are charged with a 30$ after more than one transaction per month. OptionFair support is available via 4 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- 70-85% In-The-Money with a 75% average return for most assets. The Out-of-Money refund is between 0-15%.
Deposit, Payment and Bonus 14/20
OptionFair Minimum deposit is average – 200$ or 200€. Deposit is available via C.C., Wire transfer, Cash-U and more. Withdrawals are generally available via the same methods, with an exception- if the value of the withdrawl 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 up to 1000% and 30% for more.
Website Extra’s 15/20
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.
OptionFair rating: 70/100 – Not Regulated (-10) = 60
Check out our recommended binary options brokers
Check out our recommended binary options brokers
2 Responses to “OptionFair”
I have been using the optionfair, they ask you to deposit the money but later on they will make a lot of excuses when you want to withdraw the money and profit you made. I am not sure if someone has the similar experience.
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