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Option 888 Review
Option 888 review | This broker uses the Tradologic trading platform which is a good alternative to the more popular SpotOption platform that is currently dominating the market. This does not in any way imply that it is a worse choice. I believe that both will compete toe to toe for the place of the most popular binary option trading platform in the near future in between option robot.
Option 888 in a Nutshell:
- Broker: Option888
- Platform: Tradelogic
- Founded: 2020
- Bonus: Up to 100%, maximum $888
- Return/Refund: 65-89%
- Number of Assets: Around 200
- Regulated: Malta Gaming Authority
- Demo Account: Yes
- Minimun Deposit: $250
Is Option 888 a Scam or Trustworthy?
One way that Option 888 stands out of the crowd is their super-fast withdrawal services. When a trader has made a profit and wants to make a withdrawal, it is desirable that the withdrawal is possible quickly and safely. In this case Option 888 really stands out. If the request is made before 6pm GMT+1 they will process and approve it the same day and the withdrawal will be completed at latest on the next day.
View from the trading room of Option 888
How Binary Option Robot Can Change Your Life? Check This Out!
Option 888 is a quite new on the binary options scene But is it a scam? Read our through investigation article and find out the truth
How to Make Money with Binary Option Robot
Top Binary Option Robots in Russia
Claim your free binary option robot, get started with three easy steps:
- Name of Robot
- Min. Investment
- Min. Deposit
1. Your Binary Option Robot will analyse the market and decide, which asset (currencies, indices, commodities and stocks), is right to trade at that point in time.
2. The Binary Option Robot Will Predict the Price Movement
Your robot will assess a wide-range of factors, and then make a prediction on how the assets price will move, saying: Call (up) if it believes the price will rise and Put (down), if it believes the price will fall.
3. Decide on how much you want to Invest
Then you need to decide how much you want to invest in the commodity and when that investment will expire.
4. Collect your Earnings
Finally, you collect your earnings (the good part!)
TABLE OF CONTENT
Option 888 offers an exceptionally good first deposit bonus: 100% up to $888. In addition, Option 888 has decided to reward active traders further. The most active traders get tailored bonuses depending on their trading activity and the level of assets used in the trading. The more you trade, the bigger bonuses and other benefits you can get, so it is indeed worth trading actively. It is also possible to acquire VIP status, once you have attained that, they offer you invitations to special events, a personal broker to assist you and higher yields on your trades.Best Binary Options Brokers 2020:
Best For Beginners!
Free Trading Education!
Free Demo Account!
Get Your Sign-Up Bonus Now:
Only For Experienced Traders.
Best Binary Option Robot
All these promotions and bonuses together make it worthwhile to take your trading seriously, and also encourage you to make deposits large enough to commit you to the whole process. If you do not have time to learn how to invest in binary options, I suggest using Binary Option Robot, it is a one of a kind automated trading tool or developed option signals service which helps you to reach maximum profits with minimal effort. Now you can get this excellent auto trader tool completely free by clicking the button below.
There are several different languages available. The supported languages are English, Swedish, Norwegian, Dutch, Danish, German, French and Finnish. Such a wide variety of languages is really a positive thing for European traders.
Option 888 is known particularly of their fast money transfers. They also offer a really wide range of different deposit options. For example, credit cards, such as VISA, MasterCard, and online payments such as IDEAL, Skrill, Sofort, Trustly and Paysafecard, along with traditional wire transfers are available. Depositing with credit card is the easiest way, but if a trader is making a larger deposit, for example, thousands of dollars, the wire transfer is the recommended method. Minimum deposit amount is $250.
Banking Options are several
When it comes to the actual trading in Option 888 broker site and their platform, they offer the traditional binary options methods such as up/down, one touch, range and turbos. But Options 888 has also taken the service to the next level and is offering special features that are rarely seen on competitor sites. One of these is “Early close” which allows a trader to close the option before the expiration if the trend seems unfavorable. This is an effective way to minimize losses.
The second special feature is their “Extend” feature, which allows a trader to continue the option and delay the expiration time. This is also a great way to minimize losses. This feature is very useful if the trader thinks that the option currently looks unfavorable, but in a little more time it could be profitable.
Like almost every self-aware broker site, Option 888 offers a mobile version for active traders to set trades any time they want and to follow how their trades are going from anywhere. The mobile version is available for Android and Apple products and can be downloaded from the Google Play store and the Apple App store. All that you need to do, is to sign up through the links from this site and create an account. Then, it is easy to download the app from the right store and sign up with your username and password.
The mobile platform also shows, similarly to the regular platform, the trader insight chart on the front page. Here you can follow how the other traders are placing their trades at the time. This is useful information and helps you to compare your own view to that of others.
Mobile trading platform is easy to use
The maximum profit for regular options is 89% and on average the payout stands between 75%-80% which is relatively good. For special features like range or one touch options the payout can reach up to 500% which is stunningly high. These are obviously riskier than the regular up/down binary options.
It is possible to achieve up to 500% return with one touch options
What to Trade with Option 888
Option 888 offers a wide range of trading assets including over 200 stocks, commodities, indices and currency pairs. The selection consists of 30 currency pairs, roughly 30 indices, 20 different commodities and around 130 stocks. The list of commodities is wider than most of competitors. The list includes such specialties like soybeans, zinc, nickel, lead and some other rarely seen commodities that cannot be found elsewhere.
The indices list consists of the biggest companies and global brands represented in many different stock markets around the world. Well-known indices such as S&P 500, NASDAQ, NIKKEI 225 and Dow ja Dax are included.
The stock list is really comprehensive and one of the widest there is. Such well-known companies as Apple, Coca-Cola, Alibaba and Google are represented.
List of commodities available to trading
Platform and Trading
Option 888 offers their traders the Tradologic platform which is a refreshing variation from all those SpotOption related brokers. Can not be stated that which one of the platforms is better among the best binary options brokers Most of the features are quite similar, but there are a few extras.
List of indices available to trading
Range is an option where a trader wins if an asset will expire within a predetermined range. Range offers better profits than regular up/down options. The turbo option is a short-term investment where it is possible to set a one or two minute expiration. If used in the right way, turbo options can be highly profitable. I tripled my own initial $2,000 investment within three days using them. The platform itself is easy to work with and does not require much practice. However, if the trader needs to practice before making real trades a demo account is also available
Expiration times vary from one minute investments to several weeks or even longer. This depends on the asset, the market and the trader. You should choose the expiration which best suits your own goals. Sometimes shorter expiration times are more effective, whereas longer investments can be used when probable direction of the overall trend is known. Long-term options are excellent, if you want to rely on the trend. On the other hand, the longer the investment period gets, the more possible events that can occur before the expiration date.
Option 888 offers a wide range of educational material and guides which are useful for advanced traders but especially for beginners. In their trading academy, there are courses such as: winning tactics, basic technical analysis and advanced technical analysis.
There is also plenty of video material about binary options and trading in general. The following courses can be found on the Option 888 site: course introduction, the world of global trading, binary options advantages, trading is an art form, chance and risk, are you an emotional trader, and distributing risk.
All these courses are informative and designed to give a better understanding to traders on how to overcome the most basic mistakes that beginners usually make. We recommend getting familiar with these materials even if you are an experienced binary options investor. There is always something new to learn.
For more advanced traders there is material about aggressive trading, passive trading, market analysis and trend analyzing. Anyone who will study these materials properly and understand them will be able to make profitable trades.
Courses for advanced traders
Option 888 Additional Courses
To help understand economics as a whole and the mechanics behind it, Option 888 offers additional trading courses. The subjects of those courses are: growth, interest rates, savings and investments, globalization and economic systems. We recommend you study all those materials to fully understand all the causalities related to economics.
Option 888 eBook
In addition to all above, Option 888 offers 30 page eBook
More advanced courses
Option 888 customer service is quick and professional, as it should be. We got extremely quick responses in our test. They were very helpful and service was kind and professional overall. They can be reached by email, phone or live chat. Live chat is the best way to ask something that you need to know quickly. Email is a suitable option if the issue is not that urgent. It is also possible to contact them via skype if that is your preferred method.
Option 888 as a Company
Option 888 was established in October 2020 and they hold offices in Germany, Malta, Curacao and Sweden. They have Curacao and Malta licenses and they are in the middle of the process of getting licenses from Jersey and UK regulators. They clearly want to be as transparent as possible and holding several licenses definitely strengthens this agenda. They also offer the possibility to keep your account balance not only in Euros or US Dollars but also in Pound Sterling, Swedish Krona, Danish Krone and Norwegian Krone. This is not possible in every binary option broker site and is a pleasant surprise for traders from Northern Europe.
Due to regulations, Option 888 unfortunately cannot accept customers from the following countries: Afghanistan, Bulgaria, Cyprus, Ghana, India, Iran, Iraq, Israel, Nigeria, Pakistan, Somalia, Syrian Arab Republic and the USA. As the regulation gives trust and transparency, the other side of the coin is restrictions towards citizens of certain countries.
Conclusion and Overall Rating
Option 888 offers a well-designed platform for traders, a wide range of education materials and great customer service. The payout is only a little above average but the special features, which help you to minimize losses, lifts the payout percent to well above average. We can strongly recommend the Option 888 broker services to every investor who is interested in binary options trading or who wants to trade with a rock-hard broker site. Their trading asset selection is one the widest on the market. Aside from the fact that they cannot accept US customers because of the license and regulation, we really couldn’t find any real downsides.
For overall rating, we will give to Option 888 4,8 stars out of 5 which is one of best grades at the moment.
Broker Name: Option888 Platform: Tradologic Founded: 2020 Bonus: 50% Return/Refund: 75-85% / 0-15% No. Of Assets: 90 Regulated: No Demo Account: No Minimum Deposit: 250 US Traders: Not Accepted
Option888 is not a new broker but it is one that has only recently come onto our radar. It is owned and operated by Capital Force ltd, Rebublic of Samoa, registered under No.70611, 13 Novasage Chambers, Level 2, CCCS Building, Beach Road, Apia, Samoa. Samoa does offer some limited business oversight but is not to be considered a regulator of binary options. The broker can be contacted through email at [email protected] , live chat on the website or by phone. The English language number is 442038932468.
Is Option888 A Scam?
Option888 does not at first appear to be a scam. The broker has been in operation for some time and has yet to draw serious adverse attention to itself. There are some red flags including lack of regulation, off-shore headquarters and use of bonuses but these do not necessarily make them a fraud. What may make them a fraud is that most if not all of their traffic, according to SimilarWeb, comes from affiliate sources like the Bitcoin Code (scam software) and Finanz-Report.com (a fake news page/sales funnel). The sight has seen a major increase in traffic over the last month which may be a good sign, except that it is mostly from Germany where non-Cysec/non-regulated binary options are illegal.
Editor’s Note – Why Doesn’t Option888 Suck in 50 words
Option888 might not suck because there are brokers operating outside the legal framework of regulation you can trust. And also because the platform is pretty good, it’s built on Tradologic and offers the more traditional style of spot binary options that we’ve all come to know and love.
Why Does Option888 Suck in 50 words
The broker might suck because it is unregulated and operating within countries known to require regulation. It also gets a lot of complaints about money not being paid out. This may be nothing but it is a red flag that should not be overlooked.
Should I Open An Account With Option888
Option888 is relatively new on the scene but has been around for a couple of years without major incident. The broker appears to operate legitimately but caution is still required when opening an account. The trading is good regardless, the platform is Tradologic and one of the top on the market today. It supports just about all types of traditional spot binary with the assets you want to trade. There are short term, long term, high/low, touch, no touch, boundary and what they call advanced. Advanced is similar to SpotOptions Option Builder where you can choose a risk/reward profile to enhance profits or limit risk on losses.
Standard digital are short term high/low style binary with expiry every 15 minutes out to 2 hours from the current time. Touch options have similar expiry and require a single touch up or down to pay out. Expiry for range options is set at 30 minute intervals with usually 2 to choose from, 30 minutes or 1 hour. Turbo Options are the shortest term expiry; 1, 2 or 5 minutes from purchase. One Touch is similar but different to Touch in that requires one touch to pay out, or no touch if you choose. The Touch requires a touch either down or up. Assets are available in all four classes; indices, stocks, commodities and forex. The list is quite full and nice to look at but be warned, you may not find them all available for trading. Things like Sugar, Cocoa and some indices are only window dressing.
The minimum deposit is average for the industry but high at $250 when compared to some with $10 or $20 deposits. They can be made with CC, wires or ewallet as can withdrawals. The minimum withdrawal amount is also $250 and does not come with any fees save those your bank or card may charge. Withdrawals may take up to 14 days to clear to your account, according to the terms and conditions, and one of the longest I’ve ever seen. Bonuses are available if that’s your thing, up to 100% depending on deposit size, and require a 30X turnover before ANY withdrawals can be made.
I really couldn’t find much in the way of complaints that were in any way relevant, at least not at first. The most recent one I could find was dated to early 2020 and had no follow up. It said that the broker wasn’t returning money after a withdrawal request. I checked into several forums including ours here and could find nothing fresher than 2020 but those were nothing more than queries from members looking for info. After a bit more searching I did find one website with what appears to be real comments from real users; they say not to trust this broker because you won’t get your money back.
Option888 Regulatory Update;
Option888 VIP, a service of Option888 for high profile clients, was entered onto the Swiss FINMA warning list as not being registered to provide services in the country. FINMA 15/6/2020
Italy’s CONSOB lists Option888 in a blanket warnings covering brokers not regulated to operate in Italy and appearing on warnings from other agencies. CONSOB 2/10/2020
Options888 does offer a bonus and it is probably exactly what you expect. You can get up to 100% of your initial deposit depending on the size, delivered at time of deposit. In order to clear the bonus for withdrawal you will need to meet turnover of 30X the bonus amount. No withdrawals will be permited until the turnover is met.
Withdrawals do not appear to be easy with this broker. You can withdraw to ewallet, CC or wire but you will have to wait up to 14 days or longer depending on the situation. The FAQ’s say withdrawals take up to 10 days but in the terms it clearly says 14 days with a possibility of being longer. That is of course if you clear the bonus terms.
Option888 Ratings 69/100
User Friendly 18/20 I can give this one a high rating for user friendly because it is. It is really easy to use, the platform is decent and there isn’t much bad to say about it. The problems come later, that’s when things can turn unfriendly.
Number of Assets & Expiry 15/20 This broker isn’t too bad on either but neither is it too good. The asset list looks awesome, the problem is that most of it is just fluff and not to be found at trading time. Expiry is also OK but you won’t find much for longer term traders, short term traders are well covered.
Commissions, Support And Effective Returns 16/20 I can give another high rating here because there are no commissions, support is present and returns are OK. It’s not the best I’ve seen, live chat is more like “I’ll catch up with you later” chat but I don’t mind, I don’t want those jokers talking to me anyway. Returns are average, nothing to write home about but nothing to sneeze at either.
Deposit, Payout & Bonus 10/20 This broker scores low here. Deposit is higher than usual at $250 (that used to be standard but now so many brokers let you in with $10 or $20 bucks) and payouts are only average. What really sucks is that they still use the old bonus rules which totally tie up deposits and make it hard to ever get money out, if you ever can at all.
Website Extra’s 10/20 There isn’t anything special about this broker. You might consider the types of options, the number of varieties, an extra but it isn’t really. If you are looking for something special this isn’t it.
Option888 Scam Test
Option888 Scam Inspection
With so many new entrants into the binary options market, it is only natural for traders to be a little bit cautious when it comes to signing up with Options888. Actually, you should be cautious when signing up with ANY broker. After all, the industry is not helped by the number of binary options brokers that were closed or placed under investigation by relevant authorities in the past. This review will definitely answer the question of whether Options888 is a scam or not.
The answer to that is fairly obvious. It won’t take long for you to realise that this is a legitimate broker. In the short time the company has been around, it has been able to quickly amass a large number of loyal traders by offering many advanced features and an unparalleled service. Let’s take a look at these features and how they help you as a trader achieve success.
Option888 Scam Test | Sign Up, Bonus and Education
The sign-up process for Options888 is transparent and straightforward. At the end of it the trader gets a 100% bonus on the initial deposit. The minimum deposit amount allowed by the company is $250, 250 GBP or 250 EUR. The funding of the trading account with the bonus was instant, so we were able to begin trading with the bonus immediately. It is important to note though that Option888 only offers bonuses of up to $1500 (GBP or EUR).
Option888 wants to help traders build their careers in this business. This is why they have a good library of reading materials and videos covering all areas of binary options trading. We found these videos to be very educational, and the entry level training is perfect to help a complete novice understand the business of binary options trading. The quality of training materials available ensures that traders always will have a resource to refer to should they experience any difficulties in the trading process. This is important, because only traders who fully understand the workings of binary options will be able to fully utilize the wealth of features available at Options888.
Through the combination of high quality education and a 100% deposit bonus, new traders have a terrific formula for generating good results and building their trading portfolios. So, all of these features work perfectly, without any trace of an Option888 scam. However, this is just the beginning of our investigation. Keep reading!
Option888 Scam Test | Trading Software and Tradable Assets Offered
One of the ways scam brokers rip off customers is by offering dubious trading platforms that are not user friendly. Our review clearly shows that Options888 is not one of these scam brokers. The trading platform they offer is a magnificent piece of technology and is supplied by Tradologic, one of the leading names in the industry. The charts are precise and the platform offers a truly intuitive trading experience.
Trading options available on the platform include Range, Touch, One Touch, Long Term, Turbo/60 sec, as well as High/Low options. With payouts as high as 89%, you are sure to find a market that appeals to you. As any good trader will attest, a platform that allows a wide range of trading options is vital if you are to stay profitable and improve your portfolio. Switching from one trading option to the other is also very easy. This means you can take different trade types in seconds without any lag. A lagging platform is a nightmare for traders looking to make money on 60 sec options, for example.
You can trade any amount between $10 and $10,000 (or GBP/EUR).
There are also lots of tradable assets on the platform. Traders are spoilt for choice with 20 commodities, 27 indices and 30 currency pairs. Options888 is also one of the few brokers that offers a stock pickers market. Traders have 167 stocks to select from when choosing their own assets. Put that all together, and you will get an offer that is very difficult to match.
The asset range, interface and technology clearly point to the fact that Options888 is not a scam broker.
Option888 Scam Test | Customer Support and Services
The customer support service on offer at Options888 is outstanding. All members of the staff are very knowledgeable. In a mystery shopper test we were not kept waiting for answers and met some of the most polite customer service personnel in the industry. You can get to the support through live chat, which is a preferred option for many, or by sending an email. You can also call them on phone or contact them via Skype. Before you contact them with your problem, though, it may be best to first go through the FAQs. The section is loaded with useful information and well designed, so you will often be able to answers to most basic questions without need to contact support.
The website has different language options including French, German, Danish, Norwegian etc. They are also always adding new languages, so the chances are that you can easily choose the language that suits you best if English is not your mother tongue. Definitely no signs of an Option888 scam here, but we’re just getting to the most important part of the analysis, so stay tuned.
Option888 Scam Test | Funding and Withdrawals
This is where many traders have issues with binary options brokers. If you are worried about Options888 being a scam broker that doesn’t allow an easy withdrawal, you can stop worrying right now. They are one of the best when it comes to transferring money to and from your trading account. The entire process is fast, easy and free from any additional fees, which is particularly attractive.
Withdrawals are incredibly fast, as every request made before 18:00 GMT is approved the same day. There are no withdrawal fees and a minimum withdrawal amount of just $25. We made a test withdrawal of $200 to a MasterCard and it was processed the same day while the funds hit our bank account in less than 48 hours! Very impressive.
Bear in mind that you need to have your supporting documents verified before you can withdraw funds. These supporting documents required are your ID and Proof of Address (a utility bill is usually needed, but a bank statement will do just fine, too).
The funding and withdrawal options supported by Options888 include Truly, Sofort, Paysafe Card, Ukash, iDeal, Skrill, Moneybookers, Bank Wire, Visa Electron, Maestro, MasterCard and of course Visa. Quite a lineup, wouldn’t you agree? Don’t forget that the minimum deposit allowed is $250, though. While this may not be ideal for some people looking to test the waters, it is pretty standard among the best brokers in the industry.
The demo account offered by Options888 should be enough for anyone looking to test the trading platform; or their trading skills. Through it, you will be able to check everything out without any financial danger. We consider this another proof of the broker’s transparency because the demo account hides absolutely nothing from you and you can see for yourself that the platform works perfectly. Another big plus for Option888 in our book.
Option888 Scam Test | Is Options888 regulated?
In this time when there are many scam brokers, it is not advisable to open an account with an unregulated company. Options888 is not a scam broker and the company is duly regulated by Malta Gaming Authority. This is probably the greatest proof of their legitimacy you can find.
Part of the rules guiding their membership with the MGA is that they are expected to report all transactions that go into a trade repository. The reports cover both financial and non-financial counter parties, as well as all kinds of transactions, including commodity, equity, etc. With this information, it is easy for the regulators to detect system risks, thereby ensuring a high level of transparency.
With this kind of security, traders will never have to worry about losing their trading capital (except through bad trades) and they can be confident in the knowledge that any queries that may arise during the course of their trading career will be addressed properly.
Option888 Scam Test | Conclusion
Options888 is not a scam. It is a new but highly transparent binary options brokerage committed to providing the right environment needed for binary options traders to thrive. They have a valid license from a very reputable regulatory body and go to great lengths to make sure every last cent on their website is perfectly secure. The company is also very transparent, which can be seen from the quality of their customer support and the fact that their demo account allows you full access to the features of the trading platform. There is absolutely no doubt in our mind – this is a completely safe and trustworthy trading partner. Therefore, if you want the best for your money, open an account with Option888. They belong to the very top of the online trading industry.Best Binary Options Brokers 2020:
Best For Beginners!
Free Trading Education!
Free Demo Account!
Get Your Sign-Up Bonus Now:
Only For Experienced Traders.