Our deposit with Skrill was not instant since OptionFair uses the send money feature instead of instant deposits; however, it only took us six minutes to receive our money, which we find very acceptable.
OptionFair allows one free withdrawal per month. This is a good service as it allows even small traders to take home some profit without losing it to banks fees.
If you withdraw more than once a month with a standard account, you will be charged a fee of $30. This is in order to recover some of the expenses OptionFair is imposed by the banks when making bank transfers.
The minimum withdrawal is $100.
It is not covered by the Terms & Conditions but if you do not login on your account for six months your account is considered dormant. You will be notified by mail but should you fail to log-in immediately and thereby activate your account a fee of 10% will be charged to your account monthly.
Like with all binary options brokers you are required to submit a valid photo ID + proof of address. This is in order to comply with the American Patriot Act from October, 2001 that was made to prevent money laundering.