OptionFair is a binary option vendor licensed in Cyprus. It has a nice selection of binary options, including those with a lifespan of just 30 seconds or 1 minute. Some of the binary options sold by this platform pays over 90% when they pay out.
OptionFair is owned by Mika Holdings Inc, who also owns 24Option.
Short info about OptionFair
| Founded | 2010 |
| Based in | British Virgin Islands |
| Headquartered in | British Virgin Islands (but also has a big office in Cyprus) |
| Licensed by | Cyprus Securities Exchange Commission (CySEC) |
| Languages | English, German, French, Italian, Spanish, Turkish, Arabic, Japanese |
| Compatibility | Web browser trading (so it doesn’t matter if you have a PC or Mac) |
| Mobile trading | Yes |
| Streamed news feed | Yes |
| Minimum deposit | 200 USD |
| Payout | Standard: 85%
VIP: up to 91% |
Bonus
Welcome bonus
New members get 5 “risk free” purchases. If you lose money, you get the money back – but in the form of bonus money with a wager requirement.
Other bonus offers
OptionFair change their bonus campaigns often, so the best advice we can give is that you check in with OptionFair to find out what’s going on right now. If your planning to make a deposit, it can also be a good idea to contact the OptionFair customer support to make sure you aren’t missing any offer on your specific deposit level. The offers are usually tied to the size of the deposit, e.g. a deposit of less than $250 will give you a 30% bonus while a deposit of $15,000 or more will give you a 100% bonus.
OptionFair will often have campaigns where you just don’t get a deposit bonus, but also extra pay on winning binary options. A common campaign is the one that gives you a 50% deposit bonus +1% extra pay on winning binary options.
Another nice feature with OptionFair is that they frequently have campaigns where you get a bonus that doesn’t consist of bonus money but of something else, e.g. access to analyze tools, access to market signal info or access to special news letters.
If you ponder making a relatively large deposit, it is always a good idea to contact customer support and negotiate a deal with them. VIP bonus is available for large deposits.
Platform
The OptionFair platform is comes with some noteworthy features, including the option of closing any position prematurely. This means that you can close a binary option (and remove your exposure to risk) before the option expires.
The OptionFair platform opens in your web browser and is easy to navigate and use for trading.
Mobile trading
OptionFair has a trading app for iOS and another one for Android. You can get the iOS-app in Apple iPhone App Store and the Android-app in the Google Play Store.
Accounts
There are five different accounts available for binary option traders at OptionFair. Which account your start with depend on the size of your first deposit. Once you have started trading, you can be bumped up to a higher account level if you trade enough.
- Standard account
If you first deposit is less than $500, this is the type of account that you get.
- Silver account
If your first deposit is $500 – $1,999 you start out with a Silver account. This account type comes with certain perks, including an extra 1% on your binary options payouts.
- Gold account
If you first deposit is $2,000 – $14,999 you start out with a Gold account. This account comes with all the perks of the Silver account + special gold account perks. You get 2% extra on your binary options payouts.
- Platinum account
To get a Platinum account directly after sign-up, your first deposit to OptionFair must be at $15,000 – $49,999. You get all the perks of the Gold account + special platinum perks. You also get 4% extra on your binary options payouts.
- VIP account
This is the account type with the very best perks (including VIP priority support), and you get a 6% extra on your binary options payouts. If your first deposit to OptionFair is $50,000 or more, you get a VIP account right from the start.
Option trading
OptionFair has a nice selection of binary option types, and includes both short-term and long-term binary options.
Here are four binary option types that you can purchase from OptionFair:
- Classic binary option
OptionFair have classic binary options based in roughly 70 different underlying instruments (shares, indicies, currency pairs, or commodities). These options usually pay 91%. Both short-term and long-term classic binary options are available at OptionFair.
- Super short-term binary options (turbo binary option)
The shortest lifetime of an OptionFair super short-term binary option is 30 seconds. The 60 seconds binary options are also very popular. With super short-term options, you can earn – or lose – a lot of money in a very short time span even if each individual option only yields a small monetary profit. It is possible to start out with a very small investment and quickly use the winnings to progressively build up a bankroll, provided that you win of course.
- One Touch binary options
When you purchase a one touch binary option from OptionFair, you risk your money on whether the underlying financial instrument will reach a specific point during its liftime. The financial instrument does not have to still be at this point when the option expires for you to get paid on a one touch binary option. You can purchase one touch binary options with a very big payout at OptionFair; some of the pay over 500%!
- Interval binary option
With an interval binary option, you get paid if the underlying instrument stays within a certain interval. This type of option is also known as boundary binary option or range binary option.
A special type of interval binary option is the one where you get paid even if the underlying instrument moves outside the interval during the lifetime of the option, as long as it is within the interval when you binary option expires.
Underlying financial instruments
OptionFair have binary options based on shares, indices, currency pairs, and commodities. All in all, you’ve got roughly 70 different underlying instruments to chose among. Compared to many other vendors of binary options, this isn’t very much. It should be noted however that at the time of writing, OptionFair is in the process of adding more to their selection.
Company shares
- Amazon.com, Inc
- American Express
- Apple Inc
- AXA
- Baidu, Inc.
- Banco Bilbao Vizcaya Argentaria
- Barclays PLC
- BNP Paribas
- British Petroleum PLC (BP)
- CITIGROUP Inc
- Coca-Cola Company
- EXXONMOBIL
- Facebook, IPO. (FB)
- Fiat
- France Telecom
- Google Inc
- IBM
- ICICI Bank Limited
- JPMorgan Chase & Co.
- McDonald’s Corporation
- Microsoft Corporation
- Nike, Inc.
- OAO Gazprom
- Société Générale S.A
- SONY
- Sumitomo
- Tata Motors Ltd
- Telefonica
- Vodafone Group Plc
Currency pairs
- AUD/JPY
- AUD/USD
- CAD/JPY
- EUR/CAD
- EUR/CAD
- EUR/GBP
- EUR/JPY
- EUR/NOK
- EUR/TRY
- EUR/USD
- EUR/ZAR
- GBP/JPY
- GBP/USD
- NZD/USD
- USD/CAD
- USD/CHF
- USD/JPY
- USD/NOK
- USD/RUB
- USD/TRY
- USD/ZAR
Commodities
- Gold
- Gold/Silver
- Gold/JPY
- Gold/EUR
- Silver
- Copper
- Crude oil
- Coffee
- Maize
Indices
- ASX-200 Future
- CAC-40 Future
- Dow Jones-30 Future
- FTSE-100 Future
- Hang Seng Index
- IBEX-35 Future
- Nasdaq-100 Future
- Nikkei-225 Future
- S&P CNX Nifty-Future
- S&P-500 Future
- SMI-Future
- TADAWUL
- Tel-Aviv 25
Customer support
English language customer support is available through phone, live chat and email.
Email: customercare@optionfair.com
Phone support:
- English: +44 203 5147067
- Spanish: +34 911 983634
- Italian: +39 06 94808282
- French: +33 186261721
- Arabic: +966 811 1702371
- German: +49 322 21095250
- Russian: +7 499 6776050
- Hungarian: +36 1 4088605
- Polish: +48 22 3970143
- Lithuanian: +370 52141379
- Romanian: +40 316301528
Deposits and withdrawals
Example of transaction methods accepted by OptionFair:
- Direct bank transfer
- VISA
- MasterCard
- Maestro
- Skrill
- Neteller
- WebMoney
- CashU
- Western Union
- QIWI
- China UnionPay
- Abaqoos
- iDEAL
Reputation
When it comes to reputation among traders, OptionFair is praised for the stable software, varied product selection and generous bonus offers. Also, they are renowned for processing withdrawal requests really quickly.
Local phone support numbers are available for a lot of European countries, which is a big plus, because even if you speak English you might not want to pay for an expensive phone call abroad.
The major weak spot for OptionFair is the relatively small selection of underlying instruments.