OptionFair is a binary options broker that is operated by the B.O TradeFinancials company. It has been operating since 2010. During this period it has quickly become one of the more acclaimed brokers in the market. This is due its many asset options and services that support traders.
In particular, OptionFair offers a simplicity that allows even beginner traders to use the broker with the greatest of ease. Furthermore, this broker operates ethically, holding themselves to the highest standards of the law. Let’s take a closer look at how well OptionFair really operates:
Account Types, Bonuses, and Special Features
There are four types of accounts provided by OptionFair. This ranges from the most basic account, the Standard, to the more exclusive one – the Platinum account. These binary options trading account differ both in minimum deposits as well as the various services offered.
The Standard account requires a minimum deposit of $250. Once the account has been set up, the trader is treated to a free introductory session. The next account is the Silver account. Here, the minimum requirement is $500. In addition to the introductory session, the trader is also given two trade signals. They will receive this via text message. There is also a profit of 1 percent.
The Gold account is next in the hierarchy. To have access to this account, you will need to deposit at least $2000. This will assure you of extra profits of 2 percent.
Also, you will be offered financial advice on a weekly basis. You will also be given four trading signals that will be conveyed through text message.
Then, there is the Platinum account. This account will cost you an initial deposit of $15,000. It will also entail a four percent profit. Finally, the VIP account that requires an initial deposit of $50,000. In addition to as many advisory sessions as you would like, you will also be given an unlimited amount of trading signals.
There is a welcome bonus available for certain traders. However, to be eligible for this bonus, a trader must deposit a minimum of $350 dollars into their account. Individuals who deposit less will not be able to receive this bonus.
OptionFair also has a demo account that traders can use. Once you have signed up for one of their accounts, this broker will give you the choice of using their demo account as well. This will help you get confident with the trading platform that they use. You will be given $500 in virtual money to use with this demo version.
Licensing and Regulations
While binary options trading is a lucrative opportunity for many traders, there are many who are hesitant to join the market.
This is because many of the brokers are not licensed. OptionFair, however, happens to be among the few that are licensed by one of the leading authorities in binary options trading.
The have been provided with a license by CySEC. This does mean, however, that they do not conduct trades with traders from the United States, Israel, or Japan.
There are also an extremely secure broker, taking all of the necessary precautions to ensure that clients’ information and funds are safe. This includes segregating clients’ funds to make sure that they are kept safe. There is also a compensation policy in place.
Review of the Software
OptionFair uses one of the most powerful trading software on the market – TechFinancials.
In addition to providing traders with clear and concise details and systems, the software is also easy to use. This allows traders to quickly place trades, with very little chance of making any mistakes.
This trading platform gives you access to numerous assets. You can place several different trades on these assets. This includes the High/Low Option, Touch/No Touch, Boundary, and 60 second Trade Options.
Deposits and Withdrawals
If you wish to deposit money with OptionFair, you can do so with credit cards, bank wire transfers, Western Union, or with a variety of E Wallets. OptionFair will not charge you any money for depositing funds into your account. However, the third party that you are utilizing may, and you will be required to pay this fee.
Unlike many other brokers, there is no minimum amount that you are expected to withdraw from your account with OptionFair. You can withdraw as little or as much as you want. Every once a month, you get one free withdrawal. After that, you will be charged $30 every time you withdraw funds from your account.
There is no denying that OptionFair is an authentic and well-functioning binary options broker. They provide good services, offer a strong trading platform, and above all, are licensed. If you are planning on starting a binary options account, OptionFair is certainly one of the better choices that you will have to contend with.