Binary8 is a new binary options broker offering its clients a great range of tools and features to trade the markets online. Its cutting-edge Finantick platform caters for traders of all levels and offers over 120 assets to choose from, with the opportunity to achieve payouts of up to 90%. With expiry rates from 30 Seconds to 60 Minutes and a range of different account types to choose from, traders can be up and running in minutes with a $250 minimum deposit.Visit Website
- User-friendly trading platform
- Wide range of expiry types
- High payouts of up to 90%
- Wide range of tradable assets
- Pricing guarantee
- No licence
- Questionable Terms & Conditions regarding withdrawals
Binary8 Deposit & Withdrawal Methods
Binary8 Broker Information
- Founded: 2015
- Company: Go Trading Technologies Ltd
- Incorporated: Saint Vincent & Grenadines
- License: None
- Platform: Finantick
- Minimum Deposit: $250
- Minimum Withdrawal: $100
- Returns: 90%
- Minimum Trade: $25
- Demo Credits: None
- High/Low, Pairs, One Touch
- 30 sec, 60 sec, 90 sec, 2 min, 5 min, 15 min, 30 min, 45 min, 1 hour,
- iPhone, iPad, Android
Binary8 is a new binary options broker with a strong presence in the Chinese and Australian markets. It has set out to deliver a top rated service by providing traders with the highest payouts on option trades, fast withdrawals, pricing guarantees and an overall superior trading experience.
Binary8 offers its clients a cutting-edge platform and the best trading facilities possible. Its website is powered by the latest in technology, providing customers with a fluid and clear means of trading 24 hours a day. Binary8 uses the brand new Finantick trading platform which is easy to use and has already started to get noticed traders. To trade on the platform, users simply need to select an asset from Binary8’s portfolio of 120 assets, click on the Call or Put button, enter the desired investment amount and choose the expiry time from 30 Seconds to 60 Minutes. Its pricing guarantee means that if the price at expiry was not in the market and can be shown to be out of the market using a reputable chart source, traders can get a full refund on the trade.
Opening an account is straightforward and there are 4 account types to choose from including Basic, Plus, Premium and Ultimate. The minimum deposit required to open a Basic account is $250 and there are several deposit methods available including various credit cards such as Visa & Mastercard and bank wire transfer.
With one of the highest payouts around of up to 90%, fast withdrawals, excellent bonuses, instant and reliable execution of trades and an intuitive, easy web based trading platform, Binary8 has many features designed to meet the needs of every demanding trader.
Overall, Binary8 is a brand new broker with a new trading platform. While it is very easy to use, it is quite basic compared with some of the better known platforms. The best feature is their range of expiry times and ease of use to enter a trade. However, the fact that Binary8 is a new and unlicenced broker with a new platform may steer traders towards a more established broker with a proven track record.
Binary8 is a new binary options broker founded in 2015 and is owned and managed by Go Trading Technologies Ltd, Dominica. Clearing and billing services are performed by Go Marketing Technologies Ltd, Bulgaria. Binary8 is not yet licenced by a government regulatory authority.
Binary8 Bonus Terms & Conditions
Binary8 offers a choice of different bonuses and rewards to its clients. These bonuses are limited time offers and the terms and conditions associated with them are subject to change. In order for a trader to withdraw their full bonus, they will be required to execute a minimum trading volume of 40 times for every $1 bonus. The bonus can only be withdrawn when this requirement has been fulfilled.
Binary8 Withdrawal Terms & Conditions
Withdrawals are dealt with by Binary8’s finance department who will require certain identification documents to be submitted prior to traders opening their first trade. These include photo ID, proof of residence and a copy of the credit card, if used for the initial deposit.
Withdrawals of profits will only be processed when 20 trades or volume in the amount of the 10 times the deposit amount (trades volume must then be greater than the deposit value), the greater in sum of volume of the two, are performed. Failure to execute this amount of trading will render the account as fraud, an attempt at fraud, or otherwise nullifies gains.
The cost of withdrawals once the account is verified and is not subject to the non use fee is $25 or 1.25% of the withdrawal sum (the greater of the two). In addition, traders are only be permitted to withdraw 1 time per 30 days regardless of amount. The minimum withdrawal is $100 or equivalent. Once a withdrawal request is submitted it can take Binary8 up to 3 business days to process the request and an additional 5-7 days for the funds to show in a trader’s account.
Binary8 Demo Account
Demo accounts are a very important tool for both novice and more experienced traders as they enable users to become more familiarised with the platform as well as allowing them to practice trading. Binary8 offers trader the use of a demo account once they have opened an account and made an initial deposit. Traders are advised to contact their account manager in the first instance to request this service.
Binary8 Scam Watch
As Binary8 is a new broker, it is too early to say whether it is a scam, however, they are a new company with a brand new platform and no track record. We are also concerned about this broker’s somewhat restrictive and perhaps dubious terms and conditions in relation to withdrawal of funds noted earlier in our review. For this reason, coupled with the fact that they are not regulated, we would advise traders to be cautious if they are considering signing-up with them. Better still, we believe that it may be preferable to choose another binary options broker.
Binary8 Mobile App Review
Binary8 does not presently offer mobile trading apps but we have been informed that they are currently in the process of creating an app for both iOS and Android enabled devices.