Do you want to start trading binary options? Then you should know the OptionFair minimum deposit requirements.
How high is the OptionFair Minimum Deposit?
The minimum deposit defines how much money you have to deposit into your account at least with each deposit. While most brokers use a general minimum deposit requirement, with Option Fair, the minimum deposit amount depends on the deposit method you are using:
- Credit card / debit card: Minimum 250 $, €, £ or the equivalent in your local currency.
- Bank and wire transfer: Minimum 500 $, €, £ or the equivalent in your local currency.
- MoneyGram: Minimum 1000 $, €, £ or the equivalent in your local currency.
- Western Union: Minimum 1000 $, €, £ or the equivalent in your local currency.
- Electronic wallets: Minimum 250 $, €, £ or the equivalent in your local currency. Supported ewallets include Neteller, WebMoney, Qiwi, CashU, Abaqoos. Available wallets may vary per location.
As you can see from the list above, the minimum deposit varies greatly depending on the deposit method you use. With credit card and ewallets, you can deposit $250, wire transfer requires at least $500, and MoneyGram and Western Union even require $1,000.
For many traders, the high minimum deposit of MoneyGram and Western Union make these methods almost unusable. While wire transfer is cheaper, it is by far the slowest deposit method, with deposits taking up to 10 days, and still requires twice as high deposits as credit card and ewallets.
Credit card / debit card and ewallets are by far the best deposit methods with OptionFair, for these reasons:
- They have the lowest minimum deposit requirements, thereby increasing your flexibility without any disadvantage to you.
- They are booked to your account instantly. With other deposit methods it can take up to 10 days for your money to reach your account. If you want to take advantage of an opportunity that you see right now, you need the immediate deposits only credit cards and ewallets can provide.
All deposit methods are free of charge. You do not need to worry about fees when choosing your deposit method.