Option888 does not wish to register with the FCA to provide Binary options trading to UK residents. Therefore, they are not legally allowed to accept UK traders.

UK travelers are advised to check our broker table for regulated brands, which are authorized to provide binary options in the UK.

Option888 has generated a high number of complaints and cannot be used

Option888 is a new innovative binary options broker, founded in 2014 by trading professionals from Sweden and Germany. The Option888 platform is owned by Altair Entertainment NV and has been licensed by Curacao eGaming and the Malta LGA. The firm has just released a truly branded website, which offers an exceptional customer experience.

The firm focuses on three main objectives;

  • User support.
  • Fast production. (£250 Minimum)
  • Excellent trading platform.

Option888 puts a lot of effort into reassuring their traders about the safety of their funds, and also provides some unique trading tools and extensive training videos and tutorials. The main feature that will convince dealers to focus on customer service however, is fast production. Option888 will approve any withdrawals made before 18:00 on the same day – an industry leading service.

Here are some other key details about Option888;

  • Demo Account – Yes (starting balance £100)
  • Minimum Deposit – £250
  • Minimum trade – £10
  • Signal service – No
  • Bonus details – 100% deposit match bonus, up to £888.
  • Mobile App – Yes. Android and iOS are fulfilled.

Trading Platform

Option888’s trading area is very simple, and very clear. The five tabs at the top of the screen make selecting the type of option easy (the five types are described in more detail below). The menu list below and to the left, allows traders to select the asset class they are interested in. All very simple and intuitive. One interesting feature is the ability to create ‘custom’ asset categories – where a trader can add the assets he trades the most. A simple and useful idea, but currently, only available at Option888.

To the right of the asset list is the trading window. Option888 has moved away from the Green / Red buttons and standardized the look and feel of the site as a whole. So the Buy and Sell buttons are yellow – in keeping with the site’s design. They remain clear to the trader, and the strike price is still explained in the field between the trade buttons.

 

 

The payout is also listed at the top right of the trading area, and this can be customized if the trader so desires. Then there is the option to reduce the payout where the option settles in the money – but make sure some of the initial investment is returned. So for example, if the standard payout is 178%, a trader can choose instead, a payout of 158% – but know 20% of the investment is returned if the option is out of the money.

Expiration times are worth mentioning in any Option888 reviews. In addition to the short-term expiration times more commonly associated with binary options, they also offer long-term expirations. Some can stretch for two months. These long-term expirations really open up binary options to traders who prefer to do long-term valuations – or use binaries for hedging. So those who like to use the basis to make value calls on stock prices, can find Option888 suitable. All expiration times at Option888 use GMT as the relevant time zone.

Although the trading area is not tidy, it lacks some of the information that other platforms include. Some traders may prefer to have the ability to trade with four windows at once, others may want to see some other information available in other trading areas. It’s down to personal preference.

Trader’s choice

Option888 offers options for forex, commodities, stocks and indices. Their asset list is one of the most comprehensive in the binary options sector. Combined with different expiration times, the company truly provides a flexible binary options experience.

They offer four types of options:

  • Digital – Traditional High / Low options. Will the asset increase in value, or fall?
  • Touch – Does the price of the asset ‘touch’ a certain value at least once before the time expires? (Option888 has an ‘Up’ touch value, and a ‘Down’ touch value). Note with this option, there is no option to select ‘no touch’.
  • Range – Known elsewhere as border trading – Does the asset price stay within two preset values? (High and low values) or will be penetrated? This is a useful option for assets that go through ‘extremes’ of trading – either very flat, or very volatile.
  • Turbo – Very short term binary options with very short expiration time. Option888 offers expiration times of 30 seconds, 45 seconds and 5 minutes under the ‘turbo’ listing.
  • One Touch – Does the asset price ‘touch’ preset levels? With the One Touch option, the options are ‘Touch’ (It will touch the value) or ‘No Touch’ (It will not touch the value). This is very useful in either very volatile markets, or very flat ones.

Mobile App

The Option888 mobile app was last updated in October 2014 and is compatible with android (version 2.2 and higher) and iOS.

The trading window operates in the same way as the full website version. Therefore, the asset and option type are listed along the top of the screen, and once selected the trading window displays below – the registration expiration time, payout and current option price. The display is clear and everything fits well – nothing looks or feels ‘squeezed in’ as it should be.

 

 

Beyond the trading window, the application has a variety of facilities that allow traders to fully manage their accounts, from anywhere;

  • Cashier
  • Open trade
  • Trade history
  • Profile settings

This is a function that can sometimes be overlooked when developing mobile applications, but Option888 has produced a well-rounded application.

Payment

The payout level at Option888 tends to range between 76% and 80%. Touch binary options can achieve payouts of 220% but require larger price movements. Digital, Turbo and Range options all pay between 76-80%.

Withdrawal and deposit options

Option888 offers a variety of deposit and withdrawal options. The main goal of Option888 is to approve all withdrawals made before 18:00  on the same day  . This is a bold commitment, which ensures that customers do not experience delays beyond what the banking industry imposes. Withdrawals are one of the main areas of complaint for some traders, so it’s worth noting when brokers acknowledge this potential problem area, and take steps to improve their service in those areas.

Withdrawals can be made to credit cards, bank checks, check cards. There is a minimum withdrawal amount of £250.

Deposits can be made at any time. The minimum deposit is £250 and the maximum deposit transaction is £5000 – however many transactions can be made. Option888 uses Comodo SSL to keep payment information encrypted and secure.

Other features

Option888 offers its traders the following additional features and benefits;

  • Close Now – This tool allows the trader to close the deal before the time expires – either to lock in profits or reduce losses.
  • Extend – This feature allows the trader to extend the expiration time, giving the option more time if the price has not moved in the expected direction. There is a fee to use this extension.
  • Fast Withdrawal –  The  ‘  Same day approval ‘ promotion  will be a real boost for any trader who is having withdrawal problems at the broker