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Mayfair Options: One Broker, Many Functions
In 2013, Mayfair Options launched a world class platform for traders to trade binary options. Soon after, this broker became one of the key players within the industry. It has its headquarters in the British Overseas Territory of Gibraltar and caters to traders around the world. We will be evaluating Mayfair Options and its services, tools and functionality so as to help you decide whether you should opt to partner with this broker.
Evaluation of the Platform
The platform supplier for Mayfair Options is SpotOption who are regarded as the most user-friendly provider by the vast majority of traders. Currently, five types of trades are offered in this platform including Pairs, Sixty Seconds, One-Touch, Long-Term and Binary Options. Traders can easily swap between these trades with the help of the tab dividers which are present at the top of the interface.
On selecting a particular trade, the trader will be able to check out all the assets on offer. After selecting a particular asset, details like the expiration time, return rate and the entry price will be displayed. In order to conduct a fundamental binary options trade, one has to choose an expiration time and an asset. After this, the investment amount should be entered and if one predicts that the asset price would increase, then “CALL” is the correct selection. “PUT” will be chosen in the case that one believes that the price will be going down. The final step is simply validating the purchase.
Evaluation of the Payout
The payout of Mayfair Options trades can be anything from 60-85. However, with One Touch trades, the payout can be as much as 500%. A minimum investment of USD 5 is required in the case of Sixty Second trade positions, which is quite affordable for beginner or novice traders. With One Touch trades however, the minimum amount is USD 50.
Evaluation of the Assets
At present, Mayfair Options offers more than 180 assets for pairing with trades. These are obtained from the top asset classes including currency pairs, commodities, indices and stocks. It is quite obvious that Mayfair Options offers plenty of US based assets since they do cater to US traders. Of course, other international assets from different markets around the world are also present.
A deposit of 250 USD, EUR or GBP is required in order to start trading but the registration is free of cost. Since there is only a single type of account, all traders are treated to their own individual account managers irrespective of the amount deposited. The accounts can be securely funded through SSL encryption on the Mayfair Options website via online wallet, debit card, credit card or bank wire transfer.
Traders can withdraw from their accounts in multiples of 100 USD, EUR or GBP. These requests generally get processed in 3 business days or less. Every month, the first withdrawal is free of cost. Fraud security is supported by the requirement to submit identity proof via email in advance of the first withdrawal.
The Final Verdict
All in all, Mayfair Options definitely lives up to its reputation. An excellent portfolio of educational content, daily market reports plus their wide range of assets and trading options means this broker is certainly one you can count on to meet and exceed all of your trade requirements.