Option888 is a new innovative binary options broker, founded in 2014 by trading experts from Sweden and Germany. The Option888 platform is owned by Altair Entertainment NV and has been licensed by Curacao eGaming and Malta LGA. The company just released a completely rebranded website that offers an exceptional customer experience.

 

 

The company focuses on three main goals;

  • Customer support.
  • Quick withdrawal. (Minimum £250)
  • A great trading platform.

Option888 goes to great lengths to reassure their traders of the safety of their funds, and offers a number of unique trading tools and extensive training videos and tutorials. However, the main feature that will convince traders to aim to focus on customer service is  quick withdrawals . Option888 will approve any withdrawals made before 18:00 on the same day – an industry leading service.

Here are some other important details regarding 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 cater for.

Exchanges

 

 

The Option888 trading area is very simple and very clear. Five tabs at the top of the screen make it easy to choose an option type (five categories are explained in more detail below). The menu list below and to the left, allows traders to choose the asset class they are interested in. All very simple and intuitive. A nice feature is the ability to create a ‘ custom ‘ asset portfolio – where traders can add their most traded assets. A simple and useful idea, but for now, only 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 entire website. So the Buy and Sell buttons are both yellow – matching the website design. They are still completely clear to traders and the strike price is still clarified in a field between the trading nodes.

The payout is also listed in the upper right of the trading area and this can be adjusted if the trader wishes. So there is the option to reduce the payout where one option ends up in the money – but ensures some of the initial investment is repaid. So, for example, where the standard payout ratio is 178%, a trader could opt instead, 158% payout – but know 20% of the investment would have been returned if the option ended by money.

The Expiration Time   is worth mentioning in any Option888 review. In addition to the short term expiry more often associated with binary options, they also offer a much longer term expiry. Some can last up to two months. This long-term expiration really opens up binary options for traders looking to make a long-term assessment of value – or use binary to hedge risk. So those who like to use fundamentals to make value calls on stock prices, may find Option888 suitable. All expiry times at Option888 use  GMT  as the relevant time zone .

While the trading area is uncluttered, 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 Selection

Option888 offers options on forex, commodities, stocks and indices. Their asset list is one of the most comprehensive in the binary options arena. Along with different expiry times, the company really offers a flexible binary options experience.

They offer four types of options:

  • Digital – Traditional High/Low options. Will the property increase in value, or decrease?
  • Touch – Will the asset price ‘touch’ a specific value at least once before expiration? (Option888 has both ‘Up’ touch value and ‘Down’ touch value.) Note with this option there is no option to select ‘no touch’.
  • Range – Known elsewhere as a marginal transaction – Will the asset price remain within the two presets? (High and low values) or will it break? This is a useful option for assets experiencing ‘extreme’ trading – very flat or very volatile.
  • Turbo – Very short term binary option with very short expiry time. Option888 offers expiry times of 30 seconds, 45 seconds and 5 minutes in the ‘turbo’ listing.
  • One Touch – Is the ‘touch’ asset price a preset? With the One Touch option, the choice is either ‘Touch’ (It will touch the value) or ‘Do not touch’ (It will not touch the value). They are especially useful in very volatile or very flat markets.

Mobile application

 

 

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

The trading window works exactly like the full website version. So the assets and option types are listed along the top of the screen and once selected a trading window will show below – listing the expiry times, payouts and option prices present. The display is clear and everything fits right – nothing looks or feels as ‘squeezed’ as it might be.

Outside of the trading window, the application has a great range of utilities that allow traders to fully operate their accounts, from anywhere;

  • Cashier
  • Open trade
  • Commercial history
  • Configuration settings

These are functions that can sometimes be overlooked when developing mobile apps, but Option888 has made a well-rounded app.

Payout

Payouts at Option888 tend to range from  76% to 80% . Binary Options Touch can reach a payout of 220% but does not require more significant price movement. Digital, Turbo and Range options all pay between 76-80%.

Deposit and Withdrawal Options

Option888 offers a variety of deposit and withdrawal options. The main purpose of Option888 is to approve all withdrawals made before 18:00 same day . This is a bold commitment, ensuring customers do not experience any delays beyond those imposed by the banking industry. Withdrawals are one of the main areas of complaint for some traders, so it’s worth noting that a broker acknowledges this potential problem area and takes steps to improve service. theirs in that area.

Withdrawals can be made to credit card, bank transfer by check. 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 – but multiple transactions can be made. Option888 uses Comodo SSL to ensure payment information is encrypted and secure.

Other features

Option888 offers its traders the following additional features and benefits;

  • Close Now – This tool allows traders to close trades before expiration – either to take profits or reduce losses.
  • Extend – This feature allows traders to extend the expiry time, providing an option for more time if the price does not move in the predicted direction. There is a fee to use this extension.
  • Fast Withdrawals – Promise ‘ Same Day Approval ‘ will be a real boost for any trader having withdrawal problems at other brokers.