How do I register to become an OptionFair trader?
To register please complete the OptionFair new user registration form.
What happens if I lost or forgot my password?
If you forget or lose your password you can go to the password retrieval page and follow the simple steps there. Your password will be sent to the email you indicate provided it matches your registered email address. Forgot your username? Please contact our Customer Services team by phone or by email:email@example.com
How can I edit or change my personal details?
If your address, or other personal details, have changed please login to your account and update your details online. Alternatively you can contact the customer service team for assistance.
Where can I view my account balance and transaction history?
Your account balance and completed transaction history is available in the “My Account” section accessible to registered users.
What happens if I do not trade – Inactive accounts?
Your money is safeguarded and maintained in segregated accounts with major European banks. You are able to withdrawal your funds at any time.In the event that there is no activity on your account for six months the account shall be considered to be inactive and subject to a monthly handling fee of 45 EUR or the equivalent in local currency.
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 100 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:
- Credit Card: (Minimum 100 $, €, £ or the equivalent in local currency).
- Bank and Wire Transfer: (Minimum 500 $, €, £ or the equivalent in local currency). Traders must receive the Transfer Request form from Customer Care.
- 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. For the nearest MoneyGram office, please click on “Find a MoneyGram Agent”. Please contact OptionFair’s customer service desk to complete the transfer.
- 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. For the nearest Western Union office, please click on “Find a Western Union Agent”. Please contact OptionFair’s customer service desk to complete the transfer.
- Electronic Wallets: (Minimum 100 $,€, £ or the equivalent in local currency). A variety of E Wallets are supported including Neteller, WebMoney, Qiwi, CashU, Abaqoos. Available wallets may vary per location
What are the maximum and minimum deposit amounts?
The minimum deposit amount is $/€/£100 or local equivalent.The maximum deposit for first time depositors is $/€/£1,500 or local equivalent.
OptionFair reserves the right to change these limits without prior notice and to request proof of ID in the event of substantial deposits or in the event a credit card appears on more than one account.
What is the minimum withdrawal amount?
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?
Is there a charge for depositing or withdrawing money?
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 to 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.
Trading Binary Options
What types of trading instruments does OptionFair offer?
- Touch/No Touch
- 60 Second Trades
What is the ‘Target Price’ of an option?
Can I close an option before the expiry time?
What are ‘in the money’ and ‘out of the money’ expiries?
What happens if my option expires at the target price?
What are the minimum and maximum trade amounts for a single option?
Is there any execution fee?
Is there a maximum number of options that can be purchased at any time?
Is OptionFair regulated?
Is OptionFair a scam?
How can I get help if I need assistance?
Do I need anything special on my computer to start trading?