OptionFair is a binary options trading platform that is operated by B.O. TradeFinancials and regulated by CySec.
I enjoyed writing this review for OptionFair as I found that it is one of the best websites I have visited for a while. Besides the colorful and creative backdrop, you can find that the information is presented in a manner that is both logical and easy to read. Changes to the site are made on a regular basis as holiday scenery was displayed the last time I visited. The site is very well designed.
On the landing page, you can find the explanation about the basics of binary options trading, as well as a review of OptionFair itself and its background. It is quite a new company, considering its offering retail binary trade in 2012 and receiving regulation from CySec in October this year.
At OptionFair, you are offered options in commodities and stocks, as well as 12 major currency pairs. The required amount for initial deposit is $250, and it can be in USD, EUR, GBP and RUB. I presume there is no leverage as there was no mention of it.
OptionFair offers 3 trading styles along with the standard High/Low, OneTouch, Boundary and Short Term option. The broker did not offer any explanation for the differences in these styles. On asking for it via live chat with the staff, I was instructed to visit the FAQ section, where the listing can be found but not the description or explanation. When I tried chatting to the staff again, they gave me step-by-step instructions to trade only AFTER I opened an account.
The page lists different types of accounts clearly. You can choose from 5 accounts, including the VIP one. The offered welcoming bonuses increase with different deposit amounts required for each account.
It is both simple and fast to open an account: the application process can be completed from the front page. After that, you will be instructed with the trading procedure and begin trading as soon as you make your first deposit. Deposits can be made in many different ways, including Western Union and Neteller.
OptionFaire did not offer any demo account.
Currently the site is offering some promotion programs such as Invite-a-friend, FairSignals and a special holiday promotion that offers a bonus of 100% for any deposit of $450 or higher. You can easily find this information on the landing page.
OptionFair Education Center
The education center of OptionFair will give you concise and to the point free tutorials that give you the basics of binary options trading. It also offers free ebooks and webinars for all account holders. In the FAQ section, there is a wealth of data, which I found explanatory and informative enough. You would be able to see a global economic calendar, too.
You can receive customer support 24/7. As for phone call method, each country that has OptionFair service is assigned with its own telephone contact numbers. As for chat, I tried it several times and found it to be quite forthcoming and pleasant.
OptionFair has obviously put a lot of effort into their new website. As a result, I was very please to scroll through the pages.
OptionFair Customer Support
I learned during my first chat session that the support team at OptionFair consists of multilingual speakers who are able to provide support to multilingual traders, including those who speak English, French, German, Spanish, Italian, Hungarian, Arabic and Russian.
However, I found it quite boring to wait for two minutes in order to chat with a representative, Benjamin. That was quite a long waiting time for a representative to go online and address traders’ problem. Nevertheless, once I started chatting with him and he tried his best to answer my concerns, my boredom was replaced by appreciation.
I was greeted by a nice and pleasant agent. When I asked for the regulation of OptionFair, he instructed me to visit the CySEC website but did not proactively give me the direct link so that I could visit the website immediately. Had he offered me the information himself, he would save me from looking for the information on the Internet.
When I ask about the CONSOB regulation, I felt that he became more defensive and tried to avoid answering the question. Then, I acted as a trader who just move to the EU, particularly in Italy, and said that I would be trading here for a long time (thus the question related to CONSOB). After trying to make him respond, I asked if he was avoiding the question because OptionFair is covered by an Italian governing body.
I often trade with popular assets that do not rely much on technical events. I am willing to appreciate the fact that OptionFair tries to offer traders updated financial information as well as latest market trends that are essential in price speculation. Thanks to the free trading signals and the Professional Chart, you would be saved from the trouble of getting market data from other news source and be able to trade without delay.
On the whole, I believe OptionFair is a reliable broker. Moreover, there is no scam report and very few negative comments, which give us the confidence that OptionFair could be one of the most trusted platforms nowadays when it comes to binary options trading.