5 reasons for OptionFair:
- The free demo account for beginners in binary trading
- The high yields till 91% and more
- The hedging till 15%
- The regular deposit bonus of 30% plus 10 risk free trades, which make together a 130% bonus
- Many types of trades, such as one-touch and flexible functions
With OptionFair, you can trade about 70 commercial goods. These include the most important currency pairs, leading indices and shares of leading companies from all over the world, and important commodities like gold and crude oil. Altogether, the OptionFair trading offer currently adds up to 29 shares, 21 currency pairs, 9 commodities and 13 indices.
Base values and types of trade
With OptionFair you can trade in classical call/put mode or even choose the one-touch or boundary function. Furthermore, even if it is purely about the duration, it is emphasised that OptionFair ranks among the few online brokers which offer 60 seconds trades.
As special functions, the binary broker offers the early closure function, which enables you to end your option prematurely and to sell it back to either ensure your profits or to save from threatening losses. Another interesting special function is the historical data function which illustrates the elapsed price development of your desired assets over a long period of time.
Trading platforms and software, usability, appearance and security
The OptionFair platform appears to be very clear and user-friendly, after some amendments in the past. Almost all areas are in German. Even the support is offered in German. On the home page, a helpful trading simulator is affixed, where you can go through the different types of trades. Equally useful is the involvement of news announcements from Yahoo!Finance, which you can specifically launch with a particular commodity. OptionFair technically uses the platform of TechFinancials and so, is located on the most modern level in terms of security and data protection. For all those who would like to trade binary options also on the move, OptionFair offers a simplified mobile version.
OptionFair offers binary traders a very flexible choice of durations. Traders can choose from durations of 60 seconds, 5, 10 or 30 minutes, an hour, till days or weekends.
Trading conditions, hedging and maximal yields
With OptionFair, the maximum yield lies at a high 85%. If you, as a customer, reach the gold or platinum status, additional yield points are possible. As a regular hedge, a reimbursement is offered up to 15%.
Bonus for new customers
OptionFair offers a tiered bonus of 10 – 30% on the initial deposit. (10% till 499 USD, 20% till 999 USD and 30% till a maximum of 5,000 USD). The turnover requirements should however, not be seen as being too loose, since the bonus must wager at least 40 times before the payment. In addition, you get the possibility to process up to 5 risk free trades (before, it was 10), so that you cover the loss of the inserted capital up to a 100%, since: OptionFair refunds up to 5 trades, provided that they end with very high losses. Of course, you do not determine the refund anymore than you have deposited.
This is how the OptionFair Bonus works:
- You deposit for example, €600 and you unwind 10 trades with a €60 each.
- Scenario: 7 of the trades end successfully and you receive your profit according to the yield.
- 3 trades end out of the money, so they are not successful. Theoretically you would have then lost €60x3.
- Order your bonus code by using the customer service and apply your bonus from risk free trades for your lost trades.
- You receive the refunded €180.
In order to receive the bonus, you must not set 5 trades. One trade is enough. If you for example, bet your whole input on the first trade (maximum € 1,000 per trade), you have the opportunity to bring in a higher profit and go out with almost double the amount. In the case of loss, you could protect yourself from a loss by an input of a risk free trades and get out your whole input again. For this reason, the bonus is therefore, used up. You will find the exact turnover conditions on the OptainFair site. Apart from the initial deposit bonus plus the 5 risk free trades, OptionFair also offers a VIP account model. In addition, you must however, contact the customer service on your own initiative. As a gold trader, you receive a personal account manager and 2.00% yield points on top and platinum customers even get 4% of a business insurance in order to protect themselves from big losses.
Another point why OptionFair is counted among the best online binary brokers for us is, the free demo account. With OptionFair you must not have signed up and deposited money. Simply get in touch with the customer service and set up a demo account with virtual €500. Now you have 5 days’ time to test all OptionFair option trading functions before you choose to register.
Payment, security, support
For deposits and payments, OptionFair accepts all common payment methods (credit cards, MoneyBookers, alternative pay services on the web and of course, bank transfer) and also by MoneyGram and Western Union. Deposits are generally free. Every month a free payment is due and every other payment is charged with €30. The minimum payment amount is €.100. The payments take place relatively fast with an average processing time of 36 hours and vary according to the chosen payment method. You can open your trader account with a minimum deposit of €300. The minimum bet per trade is €25 – a value which rather moves in midfield below the providers. If you have any questions you can get in touch with the English speaking support via telephone hotline, live chat or email. According to our experience, OptionFair employees react fast and reliable. OptionFair is active since 2010 as an online broker and is regulated through the CySEC since mid-2013. OptionFair is a serious provider where fraud is prevented by the good support, the sophisticated website, the relatively long company history and the CySEC licence.