Deposits
Introduction
In order to deposit funds to your optionFair™ account you must be registered as a customer of optionFair™. Funds may be deposited by accessing the banking page from the main menu bar. You will need to be logged in to access this section.In order to make a deposit the deposit method from the left side of the deposit window must be selected. All the mandatory details (marked with a star) must be entered in the deposit form and the process completed by clicking on the Deposit button.
If you deposit with a credit or debit card, a successful deposit will be acknowledged by the system and your balance automatically updated. All other deposit methods require the funds to be received by optionFair™ before your balance is credited.
Minimum Deposit
The minimum deposit accepted by optionFair is:
Credit and Debit Cards, Liberty Reserve, MoneyBookers: 250 USD, EUR, GBP or 20,000 JPY depending on the trading currency.
Wire Transfer: 500 USD, EUR, GBP
Western Union, MoneyGram: 1500 USD, EUR, GBP depending on the trading currency.
optionFair™ reserves the right to change these values without prior notice.
Maximum Deposit
The maximum deposits accepted by optionFair are as follows:
Daily Limit: 5,000 USD, EUR or GBP depending on the trading currency.
Weekly Limit: 20,000 USD, EUR or GBP depending on the trading currency.
Monthly Limit: 80,000 USD, EUR or GBP depending on the trading currency.
optionFair™ reserves the right to change these limits without prior notice and to request proof of ID in the event of substantial deposits.
Deposit Currency
The currency deposited is determined by the base currency selected at registration. This parameter is fixed for each user account and cannot be changed after the account was funded for the first time.
Deposit Methods
Credit and Debit Cards
optionFair™ currently accepts payments from the following credit cards:
Visa
Visa Electron
Mastercard
Mastercard Debit
Dinners Club
Maestro International
JCB
Carte Bleue
Dankort
CartaSi
Laser
DiscoverWire Transfer
optionFair offers a fast bank wire transfer service through Envoy Services a company registered in the UK and regulated by the Financial Services Authority.
Minimum deposit is 500 USD, EUR or GBP depending on your trading currency.
Confirmation of a wire transfer may take up to 5 days.
MoneyBookers
You can fund your trading account via a moneybookers account by sending money to finance@mikaholdings.com
You must send money in your selected trading currency. Minimum deposit is 200 USD, EUR or GBP depending on your trading currency.
Western Union
You can fund your trading account via one of the authorized Western Union offices worldwide. In some countries, it is also possible to transfer the funds online via the Western Union website.
Transfers should be made to:
Receiver: Yiannakis Zannetou
City: Nicosia
Country: CyprusYou may only deposit in your selected trading currency. Minimum Western Union deposit is 1500 USD, EUR or GBP depending on your trading currency.
MoneyGram
You can fund your trading account via one of the authorized MoneyGram offices worldwide. In some countries, it is also possible to transfer the funds online via the MoneyGram website.
Transfers should be made to:
Receiver: Yiannakis Zannetou
City: Nicosia
Country: CyprusNote – You may only deposit in your selected trading currency. Minimum MoneyGram deposit is 1500 USD, EUR or GBP depending on your trading currency.
Liberty Reserve
You can fund your trading account via a Liberty Reserve account by transferring to Liberty Reserve Account ID: U5096678.
Minimum deposit is 200 USD or EUR.
How do I deposit funds
optionFair is able to accept deposits using the following methods:
Credit Card or Debit Card
Wire Transfer from your bank account
Western Union
MoneyGram
Liberty Reserve
MoneyBookers
For full details please see our banking page.
Please note the following:
1) We are unable to accept funds from any source other than the account holders own funds.
2) Account balances will only be updated on receipt of the funds by optionFair.
Account Verification
optionFair™ reserves the right to request documentation from customers with substantial deposits. This documentation is used for account verification purposes only and is maintained by optionFair as encrypted data in a secured environment.
Verification is required at two levels:
Customer verification documents required: Passport or national identification card together with a current valid utility bill.
Credit Card verification documents required: Copy of both sides of credit card displaying the last four digits of the card and the expiry date.
Customers not providing documents requested may be prevented from depositing further and/or trading.
Withdrawals
Introduction
In order to withdraw funds you must have the requested funds in your account. Withdrawal requests may be made by accessing the banking page from the main menu bar. You will need to be logged in to access this section.
Withdrawals will always initially be made back to the original deposit source. Money that cannot be paid to the funding source will be transferred to a bank account held in the name of the account holder.
Withdrawals may result in cancellation of customer bonuses awarded by optionFair™ which have not been wagered and converted to part of the trading balance.
Withdrawals will only be made to accounts that have completed the verification process.
How to withdraw funds
The withdrawal section of the Banking page may be accessed by selecting the withdrawal tab from the Banking Page Menu.
Step 1: Enter the amount for withdrawal and then click on the next button
Step 2: This step is dependent upon the withdrawal method.If all the requested amount can be returned to a credit card then all that is required is to click on the withdraw button to complete the process.
In the event that the requested amount requires a supplementary withdrawal method (e.g. wire transfer) other than return to the depositing credit card then click on the next button to continue, enter the wire details and then click on the withdraw button to complete the process.
What currency can I withdraw
Withdrawals are only allowed in the trading currency selected as part of the registration process.
Withdrawal Methods
Requests for withdrawal will be processed by optionFair™ back to the original fund source. Withdrawals will be processed to the funding credit or debit card, bank account, Liberty Reserve account or MoneyBookers accounts used to deposit funds.
Withdrawals on deposits made by Western Union or MoneyGram will be paid by a wire transfer to a bank account held in the name of the depositing customer.
In a case where the value of a withdraw request to a credit card exceeds the value of the amount deposited by credit card, the remaining value will be transferred by wire transfer to a bank account held in the name of the depositing customer. See Supplemental Wire Withdrawal section.
In order to comply with anti-money laundering policies, optionFair™ requires all accounts to be verified before first time withdrawal. Customers will be notified by Email regarding documentation required. Withdrawals will not be processed on accounts that are not completely verified.
Supplemental Wire Withdrawal
In the event that a requested withdrawal exceeds the amount deposited through the deposit method, the balance of the withdrawal will be transferred by wire transfer. The normal minimum value for a supplemental wire withdrawal is 100 USD, EUR or GBP. Lower values will be returned to the account balance except in the case of an account closure (see account closure under the other section of the banking page).
Withdrawal Charges
One withdrawal per month is allowed free of charge. Additional withdrawals are liable to a withdrawal fee of 30 USD, EUR or GBP depending on the trading currency.
All wire transfers made by optionFair are made using the “share” charges method where corresponding bank charges are borne by the receiving party.
Minimum Withdrawal Amount
There is no minimum amount for a withdrawal to credit card, Liberty Reserve or MoneyBookers.
For wire withdrawals the minimum withdrawal amount is 100 USD, EUR or GBP.
Verification
Withdrawals are processed by optionFair™ only to accounts which have been fully verified by the risk management department. Customers will be notified in the event that documentation is required for processing. Please refer to the verification section under deposits for more details of documentation required.
Withdrawals require all credit cards used to deposit with optionFair to be in verified status.
#All credit cards must be fully verified
Processing Time
Withdrawal requests received by optionFair™ for a verified account are normally processed within 36 hours of the request.
Withdrawal requests received by optionFair™ for a non-verified account are normally processed within 36 hours of receipt of the verifying documents.
Withdrawal Cancellation
Pending withdrawals may be canceled from the pending requests section accessible from the banking tab. Canceling a withdrawal will return the withdrawal amount to the balance available for trading.
All withdrawal requests in pending state (awaiting documents) will be automatically canceled by optionFair™ after 14 days and the amount returned to the customer balance.
Other
Statement
Deposits, withdrawals and charges will be posted on credit card statements under www.optionFair.com.
All wire and Liberty Reserve payments are made to/from Mika Holdings Inc.
Dormant Accounts
Accounts are defined as dormant if no login is registered during a six month period. Customers whose accounts are close to being defined as dormant will be notified by Email. Should an account reach the dormant state it will begin to incur a handling charge of 10% of the account balance per month. Login to the account after the start of the dormant payments, will reactivate the account but will not entitle the customer to any refund of handling fees already levied.
Bonuses
Bonuses cannot be withdrawn until the bonus becomes part of the account balance. The conditions under which this occurs are defined by marketing campaigns run by optionFair™ and subject to change.
To view the full terms and conditions, please visit Bonus Terms and Conditions
Security
All financial transactions made with optionFair™ are fully secured using SSL (secure socket layer) technology. For further information please visit Security and Privacy page.
