A Review of OptionFair

Mika Holdings Ltd are the owners of the OptionFair binary options broker service, but the day to day running of the affairs of this company was handed over to BO Tradefinancials in 2012 so as to secure regulation in Europe and the UK.

Trade Types and Payouts

  • 60 Seconds: This is the newest binary contract on the OptionFair platform. It has a payout of 65% to 85%.
  • High/Low: Two types of this binary contract exist on OptionFair: the conventional High/Low bet and the Above/Below bet. The difference lies in the strike price, which can be custom-set on the Above/Below but is set to market price on the High/Low. Between 65% and 80% can be made on this binary options bet.
  • One Touch: The classical Touch/No Touch and the High Yield Touch binary options fall under this category. Payouts are a maximum of 85% and 400% respectively.
  • Boundary: The traditional In/Out and the High Yield Boundary options are the two boundary bets on OptionFair with maximum payouts of 85% and 500% respectively.

Trading Bonuses

The following binary trading bonuses are available:

  • First funding bonus: This varies with binary account type. Standard, Gold and Platinum account holders get 10%, 20% and 30% bonus respectively.
  • Special bonuses: New users receive 5 insured bets, so they get all their money back on the first 5 losing bets, providing an opportunity to review and improve the trade strategy.
  • Binary Options Seasonal bonuses: These are given out at Christmas/New Year and Easter holiday seasons.

Assets Traded on OptionFair

A review of this trading platform shows that the listed assets available for trading binary options on the website are:

  • Commodities: Gold, silver and crude oil.
  • Indices: DJ30 (Dow Jones), IBEX-35 (Spain), S&P500 Futures, CAC40 Futures, FTSE Futures, NASDQ100, DAX30 Futures, NIFTY-futures (Singapore), Hang Seng, Nikkei 225 and ASX-200 (Australian Securities Exchange).
  • Stocks: Facebook (FB), BP, Apple, Barclays, SONY, France Telecom, Sumitomo, Societe Generale, Google.

Special Trading Tools

A demo trading suite is available to those operating live binary options accounts. OptionFair also offers mobile trading software for the iPhone and Android devices, allowing traders to make money on the go.

Transaction Methods

The minimum deposit on all methods of transaction on OptionFair is $250, except for bank wires ($500) and Western Union/Moneygram ($1500).

  1. Credit card/debit card: Verification of the card is mandatory before it can be used on OptionFair. A scanned copy of the front and back of the credit/debit card with the card number (except last 4 digits blacked out) should be submitted to the sales team.
  2. Moneybookers provides third party credit card and e-payment processing.
  3. Reviews show that wire transfers are available to everyone.
  4. Western Union/Moneygram.

Customer Support

A multi-lingual customer service desk provides technical and sales support services using the following methods:

  • Live chat
  • Email: admin@optionfair.com
  • Phone: +357 25 503 232 (operations centre). For sales and support, there are several lines for provision of customer support in different languages.