Exclusive Interview with OptionFair

We have been able to discuss with Jack Stiles, marketing manager at OptionFair, a pioneer of the binary industry. Here is the interview:

Hello Jack, Can you tell us about the new face of OptionFair that has been on the market for a while now? what are the changes? the new features?

We are very proud of our platform and service – and work hard to always improve the experience for our traders. We do this in several areas. For example, we offer the ability to manage accounts and trade in an ever-growing selection of currencies, such as the ruble and Hungarian forint. We look for assets that traders are interested in, such as Bitcoin – and traders can now invest in Bitcoin currency pairings on our site. We invest in the platform itself – continually tweaking it to make it more user-friendly, and by offering a wide selection of trading instruments, like Touch/No-Touch, and even possibilities within each trade – such as a variety of expiry times, cash back, and trade roll-overs.

Finally, on the service side, we provide services such as FairSignals, which help traders stay on top of what’s going on in the market and alert them to great opportunities for profit. And we have a brand new offering – integration of auto-trading on the site, so that traders can execute their strategies even when they are away.

What about the regulation of the market? what is your legal approach?

We are EU regulated through CySEC, and this is extremely important. OptionFair has always placed the safety and security of our traders as our top priority, and regulation is a way to guarantee this safety to our users. Regulation means that we are certified in terms of our compliance in several key areas – such as maintaining our clients’ funds in separate accounts, so that they are never subject to the company’s business situation or market forces. It means that there is transparency and parity in all our dealings, and that there is a disciplinary framework within which we operate.

Transactions are always recorded and supervised, pricing is fair, and bonuses are handled symmetrically. Furthermore, as many countries are increasing regulatory requirements, non-regulated brokers might find themselves suddenly out of the picture. Our licensing means our traders can expect continuity, no matter where they are.

How do you see the binary options market in the coming years?

The changes in the Binary Options market over the past few years have been intense.  We have seen hundreds of smaller brokers start-up, some offering a both a high level of service and transparency and others, not so much.  As we move into the future of Binary Options, we will start to see a couple of major changes.  Starting with the trader:  Traders will become more educated and cautious about choosing brokers, putting more time and effort into selecting a broker and trading with that broker for a longer period of time.   On the broker side, we will start to see a thinning of the huge amount of new brokers, leaving regulated brokers, offering quality service and providing a certain level of security with their traders’ funds.

What is the best advice you could give to a new trader?

  • RESEARCH – make sure you choose a reliable broker who offers a high level of service, who is regulated and who has a good reputation with traders online.
  • BE PATIENT – this is NOT a get rich quick scheme.  With time, patience and practice, this can be an excellent way to provide you with a solid, secondary income.
  • TRADE SMART – make sure when you are trading that you are thinking about each trade, using more than 1 source of information and your BRAIN – make every trade count!
  • HAVE FUN! – If it is not fun, then what’s the point?  Anytime you feel like the market is not going in your direction, stop trading – we promise you, the market will be there tomorrow.

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