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Optionfield Review

  1. Trading financial markets is one of the most attractive means of making money online. However, there are several methods of trading the markets, one of which is through digital binary options. Binary options are financial instruments that allow a trader to speculate on the direction of prices of other assets. Here, you have to decide whether you expect the market to go up or move down, and then you place a trade corresponding with that decision.

    If you believe the market will move up after a fixed period, you go for a ‘BUY’ trade. If you believe the market will go the other way, you choose a ‘SELL.’ If your prediction is correct, you are paid a fixed percentage of the capital you risked, say between 75% to 90%, or even more. If, however, your prediction turns out incorrect, you lose a specific portion of your capital.

    To be able to trade binary, and indeed any financial instrument for that matter, you need a broker. There is a wide variety of brokers that you can pick from; however, in order to get access to seamless trading, you have to choose the most reliable, one of which is Optionfield. Optionfield is launched in 2017 and it bagged a number of awards for excellent service.

  2. Optionfield Broker

    Optionfield offers commendable binary options brokerage services to traders. These services are aimed at giving them a better trading experience. Some of such services and features are outlined below:

    Not a Coercive Broker

    One remarkable point to note about Optionfield is that it is not a predatory broker. When you sign up with most binary brokers and have not deposited any amount into your account, their customer service representatives will constantly stalk you across many channels – phone calls, emails, SMS – urging you to invest. If you do invest and don’t trade for a while, they will always remind you to make trades – and other coercive brokerage practices. Optionfield is noted for not being involved in such.

    Trading Bonuses

    Optionfield offers juicy bonuses to traders to bolster their trading accounts. When you deposit up to $500, you are offered a 100% welcome bonus which gets automatically credited to your trading account. This gives you the ability to take more risks, and potentially, make more profits.

    Remarkably, those bonuses do not come with any restrictive terms or conditions, as we find with many brokers. 

    Customer Support

    Optionfield’s customer service is arguably one of the best in the industry, as careful checks online reveal. This is partly due to the fact that customer service is done in-house, rather than contracted out like most brokers do. In addition, it is available in several languages. The broker is accessible 24/7 via call, email and live chat.

    Other notable features include really fast deposits and withdrawals, as well as payouts as high as 93%.

  3. Try trading with an award-winning broker like IQ Option

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    Join IQ Option and become a trading master! IQ Option is a world-famous regulated broker that takes your trading to the next level. It allows you to trade forex, crypto, stocks, options and much more on its award-winning platform. The best part? You can start trading with a minimum deposit of ONLY $10! Read our IQ Option review.

  5. Optionfield Webtrader

    There are 3 main channels through which you can access the services of Optionfield –  namely through a mobile app (called the FX GO, available on both the Google Play Store for Android, and App Store for iOS), the MetaTrader 4 platform (more on this below), and the Webtrader. Optionfield WebTrader is its web-trading platform available via PC or mobile on a web browser. 

    The platform was reportedly built on Optionfield’s MT4 infrastructure. With WebTrader, you can trade with exactly the same account on which you trade on the MT4 and FX GO mobile application. Your trading account history gets updated across all of the platforms on a real-time basis.

    Tradable Assets

    On Optionfield’s platforms – including WebTrader – you have access to trade in an array of markets, including currency pairs and major cryptocurrencies. Unfortunately, the only tradable commodity is gold while stocks and indices are not available at all. We believe these will be made available soon.

    There are 2 types of trades that can be made on the Optionfield platform, based on the duration of their expiry time. They are namely Fast Expiry Trades and Standard Trades.

    • Fast Expiry Trades: Just as the name suggests, these trades have ultra-short expiry periods. Typically, they range from 30 to 300 seconds.
    • Standard Trades: These offer essentially the same payout rates but with longer expiry periods, with the highest being 24 hours.
  6. If you want to trade with an award-winning licensed broker, we recommended using IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs
  7. Optionfield MT4 Binary Options

    With Optionfield, you can trade binary options on MetaTrader 4. MetaTrader 4, or MT4, is unarguably the most popular software globally for trading financial derivatives. For one, it is almost impossible for the MT4 to be rigged by any broker as the MetaQuotes Corporation (its developer) doesn’t make the source code available to brokers. On the flip side, however, MT4 gives end-users a lot of flexibility to customise their trading and analyses using its programming language, the MQL. Amongst other things, MT4 allows for the use of expert advisors (trading bots), advanced charting and technical analysis tools and indicators. All these enable you to make better analyses, leading to greater profitability. 

    It is worth noting that Optionfield is one of the very few brokers that offers binary trading through the MT4 platform at the moment. However, at the moment, it is still only available for Windows PC, but not mobile. To make use of Optionfield binary options via the MT4 platform on PC, take the following steps:

    • Download and install the MT4 app for desktop.
    • Then download and install binary options extension for MT4. 
    • On your desktop, open the binary extension.
    • Head to the MT4 MarketWatch section and double-click on the assets of your choice to open the binary new trade interface.
    • Place your trade and wait for the expiry time to check its result.
  8. Try trading with an award-winning broker like IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs
  9. Optionfield Minimum Deposit

    True to the tradition of prevalent amount binary brokers, Optionfield has different types of ‘live’ accounts, and the account type you choose will determine your expected minimum deposit. These account types can effectively be seen as ‘levels’ and are largely dependent on how much you are able to commit to your trading account. Each account level comes with its own perks, but as expected, the perks increase with the level.

    Classic Account

    The Classic account is the most basic account, and works pretty well for newbies in binary trading. Optionfield sets a minimum deposit requirement of $5 for this account and a maximum of $2000. It should be noted that not all assets are available to be traded by traders with Classic Account.

    Pro Account

    The Pro Account takes the whole trading game to a pretty new level, requiring a $2000 minimum investment. With a Pro Account, traders can open up to 10 trades at a particular time. It also comes with a higher payout rate, free withdrawals and access to a personal account manager. The maximum combined investment cap is $5000 over multiple trades.

    Elite Account

    The highest level is the Elite account, requiring you to deposit at least $10,000 as trading capital. Perks that come with this level include even higher payouts, the ability to open up to twenty trades at the same time and access to the services of a dedicated relationship manager available 24/7. Others include regular bonuses.

    Optionfield Demo Account

    A good feature of a quality binary broker is making demo accounts available to clients. A demo account is simply an account provided by the broker to you for free. It typically contains virtual money which you can use to make trades. However, the money in the demo account is not real, and can never be cashed out. Demo accounts are useful for a number of things, some of which are:

    Practicing trading skills

    A demo account gives newbie traders the opportunity to practise their trading skills before they commit their hard-earned real money to trading. Demo trading accounts, as a beginner trader, give you the ability to test and trade real market conditions with fake money to know how trading works before actual capital is put on the line.

    To test a broker’s platforms

    With a broker’s demo account, you can test the broker’s platforms and services before deciding to trade with it. Traders should really get to know each other.

    To test new trading strategies

    Experienced traders may make use of demo trading accounts to test new trading strategies to ascertain if they are effective and profitable before applying such strategy to a live account where there are chances of losing real money. Optionfield gives traders to a $10,000 demo account. With this demo account, you have access to all Optionfield’s trading platforms, including MT4.

    Optionfield Withdrawal

    Optionfield offers a range of options through which you can make deposits into your trading account. Common channels include:
    Bank cards: This can be debit or credit card. However, it is preferable and highly recommended that you make use of a card powered by either Visa or MasterCard.

    Bank Transfer: Optionfield makes it possible to make transfers from your local bank account in almost any country. However, the problem with this is that it might take a long time for the deposit to reflect in your trading account.

    E-wallets such as Neteller, Skrill, WebMoney, PayPal and much more.

    Cryptocurrency: A feature that is not yet common in the binary world. You can deposit into your trading account using Bitcoin and Ethereum.

    Depositing funds into your trading account does not attract any charges whatsoever. In fact, when you use crypto coins and deposit $200 and above, you are automatically given 3% deposit bonus.

    On the other hand, withdrawals may attract charges. However, you only have one free withdrawal per week for the Pro and Elite accounts, but for the Standard account, you are charged a $10 fee for each withdrawal. Furthermore, you must note that the same channel through which you choose to make deposits is the same channel through which you receive your withdrawals. In addition, you must ensure that your account gets verified before you request withdrawals.

    Optionfield Scam

    We don’t think you will be surprised by this headline. There are a lot of scams in the binary brokerage space, and as a trader, you have to be careful. In fact, it is not an exaggeration if we say that in the binary options brokerage industry and indeed the binary options trading industry as a whole, there are more scammers than there are genuine people.

    Binary options trading scams range from binary brokers that defraud clients, to fake binary trading software sold to unsuspecting traders. There are, however, signs that can help you spot them.

    Bogus Promises – If a binary broker makes obviously unattainable promises like 300% payout, risk-free trading, surely winning, then it is likely that such broker is a scam.

    Constant Harassing of Traders – Although this is not a blanket rule, one feature common to fraudulent brokers is the way they over-market to traders. Even after you deposit in your account, they will still stalk you, urging you to quickly start trading or to deposit more.

    Terms and Conditions – Most scammer-brokers do have difficult-to-read terms and conditions. Also, usually, their terms and conditions contain a lot of red flags. However, Optionfield does not possess any of these features. In fact, it has bagged at least 2 awards from FinancesOnline, a globally recognised software review platform.

    Optionfield Regulation

    One feature that is highly recommended to look out for in a binary options broker is its regulatory status. Being regulated in this sense means if it is registered with and recognised by notable and relevant international financial regulatory authorities, and is thus subject to their rules. That is because choosing to trade with a binary options broker that is regulated comes with a number of benefits. For one, these regulatory bodies issue strict rules to firms registered under them to ensure the security of clients’ money. One of such strict rules is that they must participate in a compensatory scheme. Here, a binary options broker is expected to dedicate a portion of its earnings to a scheme aimed towards compensating its clients in case it goes bankrupt or in case of fraudulent acts by it.

    However, Optionfield does not appear to be regulated by any financial authority yet. This is understandable, bearing the fact that it is a relatively new broker. Despite not yet being officially regulated, Optionfield has taken several steps towards regulatory compliance, one of which is complying with the segregation of accounts rules. Company Optionfield Limited is registered under the laws of St Vincent and the Grenadines.

  10. Conclusion:

    We make it our mission to not recommend anything but the best – which, according to industry experts, is IQ Option, the top regulated broker for your country with a minimum deposit of ONLY $10!

    • FREE $10,000 demo account
    • Award-winning trading platform
    • Licensed and regulated broker

    Trade with an
    award-winning broker
    like IQ Option

     

     

    Between 74-89 % of retail investor accounts lose money when trading CFDs
  11. Your capital is at risk