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The firm is no longer accepting new accounts. OptionFair became unique in the world of binary options brokers in early when they became a publicly listed company.
This is very significant for traders in the UK, as it means the operation — particularly the financing — is absolutely transparent, and regularly published to the City. They focus of fairness, transparency, choice and an enjoyable trader experience. It offers a simple route to any trade. Certain elements are also configurable. These are listed to the left hand side of the trading platform, in a simple tab-style menu — the selected option is brought to the forefront.
The asset filter is then the next choice to be made — the list below will default to the most popular trades, but can be filtered by asset category, e. The list will update automatically, and default to the next expiry time.
Any of these assets can be selected, and once selected, the information displayed on the right of the trading area will update with the current information for that asset. The central and right hand side of the trading area is dedicated to the trading buttons, asset price graphs, and the trade information area.
The trading area illustrates and clarifies the terms of any potential trade. This layout can change fractionally dependant on the option type selected.
The amount and payout are listed just to the right of the trading buttons. The potential payout will auto-populate once the amount field is completed. To the right is the asset price graph. This can be expanded if required via the small graph icon, in the top right of the graph area.
There is also a trader choice bar which indicates the current sentiment on that particular asset. Beneath the graph is the trades area. This will list all the open trades, and track how they are performing.
The asset lists at OptionFair are very good, with a full range of the most popular indices, currencies, commodities and stock available. Other firms do provide a more comprehensive list, but only the most obscure assets are not available at OptionFair and this ensures payouts remain high as the liquidity justifies providing a market on the asset.
OptionFair deliver a free trading app, compatible for both android version 4. The application has received positive feedback thus far and delivers a great tool for traders wanting to remain up to date on their trades while on a mobile device.
The full range of option types are available on the app, as are the full range of assets. Asset price graphs also work well in the mobile layout. This rate can vary depending on the asset and expiry time. The payouts at OptionFair are generally favourable compared to rival brokers. OptionFair offer a broad range of deposit options.
Withdrawals can be made at any time — and there is no minimum withdrawal amount. Wire transfers may also incur a charge as a result of banking costs. Withdrawals are generally processed within 5 days by OptionFair.
Banks may then require further processing time. This is not the quickest withdrawal turnaround in the sector, and something OptionFair could work on. Traders can ensure withdrawals are not delayed any longer than necessary by ensuring the verification steps have been completed.