Is optionFair a Good Binary Options Platform?
Binary Options Trading has become increasingly popular recently, especially since it was made available and given some credibility by the CBOE. One of the leading binary options brokers is optionFair, with its own trading platform that is simultaneously available in app format for tablets and smartphones. OptionFair is based in the British Virgin Islands, and it offers three trading strategies on 63 different assets, which is one of the widest choices available for any platform.
Using software provided by Tech Financials, the trading platform is very clear and user friendly, and is available in 12 languages. You immediately see the asset that you are trading, the choices available in the trade, the type of trade, and a real-time graph of the asset. You can select a strategy and the asset with one click, and reporting and risk assessment are easily available.
Assets & Strategies OptionFair's offering of assets includes Commodities, Indices (13 different indices from around the world), 18 currency pairs and 26 stocks. Each of these assets can be traded using three strategies: High/Low (a simple process of deciding whether your asset will close higher or lower than a given strike price), One Touch (decide whether the market will or will not touch the target price) and Boundary (decide whether the market will close in or out of the range formed by the upper and lower target prices). All trades are free of commission, and the size of your trading account determines how much you profit from a given trade. Small accounts can expect returns of 70% per winning trade, while larger accounts stand to gain up to 89% per trade.
Compliance with Regulatory Standards
The important issue with the optionFair platform is that you are trading against other traders, not against the system. This means that you are offered assets that have winning potential (unlike many platforms), and you have a fair chance of success. OptionFair complies with the regulatory framework provided by CySec (Cyprus Securities and Exchange Commission) as it works to develop an international reputation.
Technical Analysis As Binary options trading is primarily a news driven strategy, optionFair provides access to up-to-the-minute news updates, as well as a daily market analysis. You have access to historical data for your own testing purposes, and the platform has a clear graphical representation of the movement of each asset. At this time, facilities for additional technical analysis procedures using candlesticks and moving averages are not available, so you will need your own technical analysis software with access to live data (not 20 minutes delayed!) and 1-minute or 5-minute graphical features. If you have an account at any other normal stock brokerage, you will have access to this type of information for free.
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