OptionField is a brand new binary options trading platform founded in 2017. With up to 85% payouts, demo tournaments and a large variety of welcome offers and bonuses, this new platform has nothing to fear from its competitors.
OptionField uses the easy to navigate MetaTrade4 platform on desktop and can also be proud of a well-designed mobile interface. As the website is still starting out, it has very generous welcome offers and demo options; a great opportunity for both beginners and experienced traders. They have also recently added the Webtrader platform to their trader options.
OptionField Review
Key Facts:
- Min Deposit : €/£/$5 (or €/£/$ 10 with crypto currencies). OptionField recommend €/£/$ 100 though.
- Payout : up to 93%
- Demo Account : Yes, sign up needed
- Regulated : No
- Bonus: Pro Account discount (75% off) Plus 10% Cashback (T&Cs apply)
Trading Platform
OptionField uses the famous MetaTrade4 (also known as “MT4”) platform, developed by MetaQuotes Software. Before being able to start trading, it is necessary to go through a quick setup and add the binary options extension. The MT4 platform allows its users to browse the financial data and history of various indicators through a state of the art “MarketWatch” feature.
It is very simple to trade binary options on MetaTrade4, you just have to follow these simple steps after having installed the software and the binary options extension:
- Open the “Optionfield Binary” shortcut created on your desktop
- Double click on an asset in the MarketWatch tab to open a new window of binary option trade.
- Set the expiry date and place your trade.
Creating a new window for every new trade makes the interface easy to use and navigate.
OptionField Trading Interface
The MetaTrade4 interface offers a fully flexible trading platform. The Market Watch tab is one of the most useful features of MT4, it displays the main indicators. By right clicking on one of the symbols in this tab, you will be able to create a new chart window or even place a binary option order straight away.
The different windows of the platform function on a click and drag basis. Their size and positions can be very quickly modified. Even though the design of this classic platform is not as modern as some of its competitors, its unique flexibility deserves to be noticed.
Once a price graph is displayed, it is very easy to add supplementary indicators such as oscillators or accumulations and distributions. These indicators can prove to be very helpful in predicting future up or downward price movements.
To place a binary option trade, double click on a symbol from the Market Watch tab. This will open a new pop-up window on which you will be able to choose the investment, the expiry and the order type (Market, Roller or Pending). After filling in these details, press on the “up” or “down” button and check out the result after expiry.
In the binary option pop-up window, the tabs “Position” and “History” could be useful to analyse both active and closed positions.
Trade Options and Assets
OptionField users will be able to trade both High Low and Turbo binary options. High Low’s are the typical binary options that pay up to 85% if the trader’s prediction is right and lose the investment he is wrong. These options are risky yet allow for large gains in a very short time span. Their expiry period usually ranges between 15 min up to the end of the day. Turbo binaries are the equivalent to the High Lows with very short expiry periods of more or less 1 minute.
Account Types
OptionField allows its traders to choose between three different types of real-money account:
- Classic: the entry-level account with a minimum deposit of 5$ / £5
- Pro: an advanced level account with a minimal deposit of £2000, larger trade caps, free withdrawals once a week and personal managers. The current promotion means the Pro Account is available to anyone making a deposit of €/£/$ 500 or more.
- Elite: an exclusive account type with a minimum deposit of £10000, higher payouts and even larger trade caps.
Bonuses
As this online broker is still starting out, it has a very generous bonus policy including:
- Crypto Cashback: 10% cashback on all cryptocurrecy deposits
- Monthly Demo Contests: contests with demo accounts with up to 2000$ prizes, the best way to practice before investing.
- Refer a Friend: every new user will be awarded his/her own referral link
- No Deposit Fees: for deposits of more than 500 USD, OptionField will cover up to 40 USD of deposit fees.
- Risk-free trades: OptionField will reimburse your losses from your first five losing trades.
Note: all of these bonuses are subject to terms and conditions, the relevant information can be found on OptionField’s website.
Deposit and Withdrawal
Deposit
OptionField offers a wide range of deposit and withdrawal options. All deposits can be made through traditional payment methods such as Visa and MasterCard credit cards, Bank transfers, e-wallets like Paypal and Neteller and even crypto currencies including Bitcoins and Ethereum. Deposits made through “traditional” methods are subject to a minimum amount of 100 USD whereas users paying with crypto currencies could deposit as low as 10 USD into their account.
Withdrawals
OptionField only accepts credit cards and bank transfers for withdrawals, with both of them having a fee of 1% and requiring a processing time between 1 and 5 business days. Pro and Elite accounts can withdraw money freely once a week.
Data on OptionField
- Payout : Up to 93%
- Min Trade : £5
- Max Trade : £1000 (£2000 for combined investments)
- Min Deposit : £100 (but 10 for crypto currencies)
- Bonus : 75% discount on Pro Account & 10% cashback on cryptos
- Has Forex : No
- Has Demo : Yes, sign up necessary
- Has Mobile App : Yes