Introduction
Operating out of Limassol in Cyprus, Mika Holdings Inc operates the OptionFair brand. OptionFair uses the Tech Financials Ltd white-label binary options platform, which offers some unique trade types not seen with other binary options platforms.
Payouts
The payout on OptionFair is expressed as a percentage. Most of the trades on OptionFair pay out between 65% and 85% for successful trades. The High Yield Touch and High Yield Boundary options have payouts of up to 400%. The only trade type with an exclusive payout of 70% is the newly created 60 second option.
Bonuses and Promotions
There are first-time deposit bonuses on OptionFair which depend on how much the trader is depositing into the account. For traders depositing less than $500, they get 10% of the deposit amount as bonus. 20% bonus goes to accounts funded with $500 to $999. Traders who fund their accounts with a minimum of $1000 and a maximum of $3000 will receive 30% bonus of deposit amount.
Traders can also benefit from two special promotions on OptionFair. There is a referral bonus of $50 awarded to traders who refer others to OptionFair. The amount awarded is $50 per referred trader, credited to the referring trader’s live account. A maximum of 5 referral invitations are allowed. The second is a promo that is awarded at special seasons of the year such as Easter, Xmas, etc. The exact terms of the promo are not constant, and information about the most current seasonal promo can be found on the OptionFair website. For Xmas 2014, there is currently a promo where 1 in 5 traders will win a Hyundai SUV, 2014 Euros in cash (2nd place) and 500 Euros in trading money as 3rd prize. The condition for participating in this promo is to deposit 200 Euros and make 4 trades without making any withdrawal. A trader can make several entries.
Asset Index and Expiry Times
Assets that can be traded on the OptionFair platform are:
a) Currencies: EURUSD, GBPUSD, EURCHF, USDCAD, USDCHF, EURTRY, AUDUSD, EURCAD, CADJPY, EURNOK, USDNOK, USDJPY, GBPJPY, EURGBP, EURJPY.
b) Indices: CAC40, FTSE, NASDQ100, XETRA DAX, NIFTY-futures (Singapore), ASX-200, DJ30 (Dow Jones), Hang Seng, Nikkei 225, IBEX-35 (Spain), S&P500.
c) Stocks: France Telecom, Sumitomo, Societe Generale, Facebook (FB), BP, Apple, Barclays, SONY, Google.
d) Commodities: Crude oil, silver, gold.
Expiry times for trades on Optionfair are as follows:
a) 60 seconds for the 60 second trade type.
b) One hour for the The High Yield Boundary/Touch
c) Between 15 minutes to 2 hours for other trade types, giving traders the opportunity to set expiry times within this range.
Trading Tools
The Early Closure functionality enables traders to take reduced profits by closing their trades manually before expiration. Profits are reduced because traders will have to pay for using this service, and this is deducted from the payout.
There are periodic webinars on OptionFair that traders can participate in and get more knowledge about how the binary options market works, and especially about the trading process with OptionFair.
A free binary options educational e-book which can be downloaded in PDF format.
There is also a tool available on the website for calculating trade expiries, as well as a rudimentary line graph that can be used in monitoring the performance of active trades.
Deposits and Withdrawals
For deposits and withdrawals, traders have the following options:
1) The easiest method of transacting with OptionFair is by using credit/debit cards. The minimum deposit is $250, and traders can use cards from VISA, Mastercard, Diners Club, Maestro, JCB, Dankort, Discover, CartaSi and Laser. Card verification by sending a scanned copy of the front and back of the card with some of the card numbers blocked out is mandatory.
2) Moneybookers, where the minimum deposit is $250. Funding instructions can be obtained from the finance department of OptionFair by email.
3) Bank wires are also available, with a minimum deposit of 500 USD/GBP/Euros.
4) Minimum deposit for Western Union/Moneygram is $1,500 or 1500 Euros/British Pounds.
Minimum investment amount on OptionFair is $25, and maximum investment amount is 1000 USD/Euros/GBP.
Support
OptionFair operates a multi-lingual customer support desk, which is available using the following channels:
– Live chat (the easiest way to reach OptionFair.
– Email: admin@optionfair.com
– Phone: +357 25 503 232 (operations centre). There are country-specific phone numbers which can be seen on the Contact Us page of the OptionFair website.
