With new entrants into the binary options market, it is only natural for traders to be a little on edge about signing up with Options888. After all the industry is not helped by the number of binary options brokers that have been closed or placed under investigation by relevant authorities in the past This review will answer the question definitively of whether Options888 is a scam or not.
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 stacked up following our review.
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, 250GBP or 250EUR. 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 up to $1500 (GBP or EUR).
Option888 wants to help traders to build their career. 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 helps to ensure that traders always have a resource to refer to should they experience any difficulties in the trading process. This is important, because only traders that fully understand the workings of binary options will be able to fully utilise 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.
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.
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 staff are 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 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 on Skype. Before you contact them with your problem though, it may be best to first go through the FAQs. The section is loaded and well sorted so you can find 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 you can easily choose the language of your choice if English is not your mother tongue.
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 easy withdrawal, you can stop worrying right now. They are one of the best when it comes to funding and withdrawals to and from your trading account. The entire process is fast, easy and free from any additional fees.
Withdrawals are incredibly fast, as every withdrawal 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!
Bear in mind that you need to have your application support documents verified before you can withdraw funds. Supporting documents required are your ID and Proof of Address.
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. 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 amongst 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.
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 broker. Options888 is not a scam broker and the company is duly regulated by Malta Gaming Authority.
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 high level transparency.
With this security traders should never be worried 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.
RISK DISCLAIMERBinaryOptionsTrading-Review.com has taken reasonable measures to ensure the accuracy of the information in the website, however, does not guarantee it. The data exhibited in this website is not necessarily always real-time or completely accurate; this includes market analysis, forecasts, signals, assets’ price quotes and charts. Readers should not treat any opinion expressed by the authors of BinaryOptionsTrading-Review.com as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of their current opinion. The risks involved in trading binary options are high and may not be suitable for all traders. BinaryOptionsTrading-Review.com doesn't retain responsibility for any losses readers might face as a result of using the information presented in this website. This website is owned by Next Media Corp. In accordance with FTC guidelines, BinaryOptionsTrading-Review.com has financial relationships with some of the products and services mentioned on this website. BinaryOptionsTrading-Review.com may be compensated if consumers choose to click links in our content and ultimately sign up for mentioned products.