OptionFair shut down in February 2018
OptionFair is the binary options service of the Finopex Group. They welcome traders from all over the world except the United States. OptionFair has the distinction of being one of the first to introduce a mobile version of its binary trading platform, allowing users to trade on their smartphones.
trading platform
Bonuses and Promotions
The account opening bonus is offered to first time traders on their platform. Promotions are also organized from time to time. The amount offered in the bonus varies and is arranged for each customer by the account executives.
account information
Account opening balances usually start at $200, but traders can actually start trading with as little as $100 in their accounts. OptionFair complements this with generous bonuses of 10-30%. The minimum trade amount is $10, and traders can operate accounts in US Dollars and Euros. Account opening is an online affair, after which traders are required to send supporting documents to Optionfair.com.
trading requirements
OptionFair has a vast array of electronic funding and withdrawal options such as Liberty Reserve, UKash, CashU, Skrill, Credit/Debit cards from almost every major card processing company you can think of.
OptionFair holds the distinction of having developed advanced pricing algorithms that allow for some of the most competitive pricing in binary options, and allow traders to trade either side of the asset. If you call them the forex equivalent of ECN brokers, you would not be wrong. The range of assets that can be traded is unparalleled. Traders can make up to 85% on every trade.
Platform Featured and Markets Offered
The trading platform is a web-based platform that is easy to use and has been simplified for novices to use without any difficulty. A feature of this platform is the availability of an interactive chart for each asset listed for trading. As mentioned earlier, a mobile trading platform exists for use on smartphones, removing the restrictions of trading with a PC. The assets traded are as follows:
1) Currencies: EURUSD, USDCHF, USDJPY, AUDUSD, GBPUSD and JPY cross.
2) Stocks: Telefonica SA, Lloyds, Vodafone, Apple, Google, BP, Barclays
3) Commodities: Gold and Silver.
4) Stock Index Futures like IBEX, DJ30, NASDAQ100, FTSE100 and Xetra Dax.
Asset indexes are much broader than those listed above. A more comprehensive list is available upon opening a merchant account. Traders can trade the following types on the web-based trading platform.
a) High / Low:
b) Touch / No Touch Option:
c) Range Options: Traders are able to trade in/out options with options.
Traders also have the option of using the Option Builder to choose the assets they can trade.
customer service
OptionFair has a customer support that is way ahead of its peers. Help Section Users are initially presented with a FAQ section, which addresses basic questions about binary options and their services. At the next level, traders can contact the multilingual support team via phone, email or live chat. Customer support is very strong.
Is Vikalp Fair a Scam?
OptionFair is a binary options trading brokerage registered in the British Virgin Islands and operates out of Cyprus. The brokerage, one of the best in the industry, came into existence in 2010 and is said to be managed by a group of highly experienced professionals from the financial industry. They are regulated by the main regulatory body in the binary options industry, the Cyprus Securities and Exchange Commission. OptionFair has involved itself in several innovations since 2010 and has been successful in diversifying its product portfolio. Additionally, they offer several different secure options to protect your transactions.
last word
It is an arguable fact that OptionFair is among the top three binary options brokers in the world. Their competitive pricing structure, payout system, wide array of funds and withdrawal options and strong customer support make them one of the most sought after brokers. Most of the reviews you will find from traders who have used this service are positive. To date, there have been no reports of traders having common problems with some brokers. It is a good broker to trade with binary options.