Banking Page

Deposits & Withdrawals

Below is all the information you need to make 100% safe & secure deposits, from multiple payments sources, to your OptionFair trading account.


Deposit Methods

Credit Cards

Credit cards provide traders with a safe and reliable means of transferring funds directly to their trading accounts. At OptionFair, you can pay with any of 14 different types of credit cards. These include: Visa, MasterCard, Diners Club, Visa Electron, Visa Delta, Visa Co-Branded Cards, MasterCard Debit, JCB, Carte Bleue, Dankort, CartaSi, Lazer, Discover, and Maestro International.

Minimum deposit: 300 $, €, £ or local equivalent (verification is required).

Wire

Wire transfers are among the safest payment methods for traders at OptionFair. Wire transfers are electronic funds transfers (EFTs) from an individual to an institution. Please log into your OptionFair trading account, and contact customer care to receive a transfer request form.

Minimum deposit: 500 $, €, £ or local equivalent.

Western Union

Western Union provides fast, convenient and reliable money transfer directly to your OptionFair account. Western Union is one of the most respected payments services with some 515K Western Union Agent Locations in over 200 countries around the world. With Western Union, traders can transfer money from anywhere in the world within just a few moments. Safe and secure transactions are guaranteed, with reliable and courteous support agents at the ready. Western Union can be accessed via ATM, mobile telephone or online.

Minimum deposit: 1000 $, € or £.

MoneyGram

MoneyGram is a respected payments system that provides multiple secure means of transferring funds to your trading account. Among the benefits of using MoneyGram services are 10-Minute Same-Day Transfer Service, 3-Business Day Economy Service and other options available to traders. For example, MoneyGram allows for payouts in different currencies. MoneyGram products and services include prepaid cards, money orders, agent reports, pre-paid money transfer, and receiver account setup.

Minimum deposit: 1000 $, € or £.

Skrill

Skrill is a highly-trusted online payment service that is used by millions worldwide. Traders can make fast payments, deposits, and withdrawals that are 100% secure. Joining is free, and there are no transaction fees involved.

Minimum deposit: 300 $, €, £ or local equivalent.

Neteller

Neteller provides traders with secure online payments, instant deposits, payouts, and withdrawals. It is trusted by millions of people the world over. Neteller is 100% safe & secure and traders can join for free. This deposit option makes it easier than ever for people to send money fast and free from anywhere in the world. There are zero transaction fees with this payments option.

Minimum deposit: 300 $, €, £ or local equivalent.

Payment Service Providers

OptionFair collaborates with the licensed Payment Service Providers shown below. All providers are fully regulated to provide efficiency of banking and ensure safety of client funds.
Payment Service Provider Competent Authority Country
Piraeus Bank (Cyprus) Ltd Central Bank of Cyprus Cyprus
Optimal Payments Limited (Neteller) Financial Conduct Authority United Kingdom
Skrill Limited Financial Conduct Authority United Kingdom
PowerCash21 Central Bank of Cyprus Cyprus

Deposits & Withdrawals

How do I make a Deposit? Do I need to Deposit to start?

No deposit is required in order to complete the registration process. However, to begin trading Binary Options with OptionFair, the minimum initial deposit of 300 USD, EUR GBP or local equivalent needs to be made.
Please note that all deposits and withdrawals will appear as www.OptionFair.com on your bank or credit card statement.

In order to deposit OptionFair offers traders several options:

  1. Credit Card: (Minimum 300 $, €, £ or the equivalent in local currency).

  2. Bank and Wire Transfer: (Minimum 500 $, €, £ or the equivalent in local currency). Traders must receive the Transfer Request form from Customer Care.

  3. MoneyGram: (Minimum 1000 $,€ ,£ or the equivalent in local currency).

    OptionFair gives you the option to fund your account through one of our worldwide authorized MoneyGram offices. Depending on your country you may also be able to transfer your funds online through MoneyGram’s website. Please contact OptionFair’s customer service desk to complete the transfer..

    Please contact OptionFair’s customer service desk to complete the transfer.

  4. Western Union: (Minimum 1000 $,€ ,£ or the equivalent in local currency).

    OptionFair gives you the option to fund your account through one of our worldwide authorized Western Union offices. Depending on your country you may also be able to transfer your funds online through Western Union’s website. .

    Please contact OptionFair’s customer service desk to complete the transfer.

  5. Electronic Wallets: (Minimum 300 $,€, £ or the equivalent in local currency).

    E Wallets are supported Neteller and Skrill.

What are the maximum and minimum deposit amounts?

The minimum deposit amount is $/€/£300 or local equivalent.

The maximum deposit for first time depositors is $/€/£1,500 or local equivalent.

The minimum amount a trader can invest in a single option is $/€/£25 or local equivalent. The maximum amount a trader can invest in a single option is $/€/£3000 or local equivalent.

What is the minimum withdrawal amount?

There is no minimum withdrawal amount. OptionFair provides traders with one withdrawal per month that is exempt from commission fees. Any additional withdrawal within the same month will be charged a fee of 30 USD, EUR, GBP or local equivalent per withdrawal.

How do I make a withdrawal?

All requests for withdrawals will be sent to the same account used to make the initial deposit: wires back to wires, credit and debit cards back to credit and debits cards, bank account transfers back to the bank account, etc. Withdrawals on deposits made by Western Union will be paid by a wire transfer to a bank account held in the name of the depositing customer. For in-depth details regarding how to make a withdrawal please refer to our banking page.

To make a withdrawal request, please sign in and then navigate to the banking page located on the trading platform.

In order to comply with anti-money laundering policies, OptionFair requires all accounts to be verified before first time withdrawal and traders will be notified by Email regarding documentation required.

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 trader.

Which currencies can I use to make deposits?

It is possible to make deposits on OptionFair® with EUR, USD, GBP, HUF or RUB. The trading currency is selected as part of the registration process and once selected cannot be changed.

Is there a charge for depositing or withdrawing money?

OptionFair does not charge traders for depositing, however their bank or wire service may.

All traders have one fee free withdrawal every 31 days. Additional withdrawals are liable to a withdrawal fee of 30 USD, EUR, GBP or local equivalent depending on the trading currency. Wire transfers made by OptionFair are made using the “shared” charges method where corresponding bank charges are borne by the receiving party.

In the event that corresponding bank charges exceed the withdrawal amount, the withdrawal will not be paid.

How long do withdrawals usually take? Can I cancel a withdrawal?

Withdrawal requests received by OptionFair are normally processed on the same day as the request or the next business day if the request is made outside normal business hours.

Clients’ accounts that did not pass the verification procedures will be refunded automatically within 15 days of the initial deposit.

Pending withdrawals may be cancelled by Clients from the pending requests section accessible in the ‘My Accounts’ tab located on the platform. Cancelling a withdrawal will return the withdrawal amount to the balance available for trading.

Can anyone trade on OptionFair? What type of verification is required?

All of OptionFair’s traders are required to complete our customer verification process which requires the submission of the trader’s passport or national identification card alongside an up-to-date and valid utility bill.

Traders are additionally required to complete the client assessment form before depositing or by selecting the profile tab available from the “My Account” section and be accepted by the Company as appropriate to trade.

To ensure the safety of the site trader credit card/debit card verification is required to allow unrestricted deposits and trading with OptionFair.

To properly complete verification, traders must send copies of the front and back of their credit card of choice, with the first and last four digits of the card and the expiry date clearly visible. It is recommended to obscure the middle digits on the card.

Accounts which are not verified will be deactivated within fifteen days after the initial deposit.

 

OptionFair® is an innovative binary options and Forex trading platform provider owned and operated by B.O. Tradefinancials Ltd, a Cyprus Investment Firm located in the Republic of Cyprus and licensed by the Cyprus Securities and Exchange Commission: License Number 216/13 www.cysec.gov.cy

 

Risk Warning: All information in and on OptionFair.com is solely for informative means, and is not intended to be taken as financial advice on any issue or subject. No users, traders or site viewers should act, or not act, as a result of OptionFair’s content without first consulting the suitable financial expert advice. B.O. Tradefinancials and its affiliates publicly repudiate all liabilities related to, or resulting from, any acts, taken or not, founded on any or all of the content on this site. It is recommended that traders should know that Binary Options trading as well as trading in CFDs and Forex is known as a ‘high risk’ monetary activity that has the potential to cause the trader to lose part of,or all of the invested funds in a relatively short time period. All traders are kindly advised to decide if this activity will fit their needs, if they have the fiscal resources for it and if this is a worthwhile personal undertaking.

TechFinancials Logo