Opinion about Option888

With Option888 you can invest in binary options online, but before opening an account and depositing your money, you surely want to make sure that it is not a scam. On this page we analyze the security of this broker, so that you can make a decision.

This company is based in Samoa and does not have any type of license from a country of the Dollarpea Union. In other review websites about binary options brokers, you will see that it is stated that it has a license from the Malta gaming authority, known as MGA, but this statement is false, either because it had it in the past and no longer has it, therefore the review is not updated, or because the research work of the other websites leaves much to be desired. As we always comment, an unlicensed broker does not mean that it is a scam, but it does mean that you should be careful not to put too much money in, since surprises are more likely than in regulated brokers. Summing up, although it has things to improve, in our opinion, there are no frauds here.

Our experience with Option888

The first thing we want to clarify about this company is that it has nothing to do with the gambling operator and 888casino . Although the coincidence of the name is explicit and we do not think it is by chance, it should be known that they have no relationship, beyond the fact that surely this company has wanted to take advantage of the good brand image of casinos and gambling house. sports betting 888 .

That said, the experience with the broker is not bad at all. Although it has no license, the truth is that contrary to what usually happens with unlicensed brokers, its offer of underlying assets is quite wide. It is important to know that the website is available in English, German, Italian and Swedish, but it is not available in Spanish.

In the following sections we will delve into the broker's offer and especially about security, but if you want to invest online safely, here you can see a list with the best online brokers .

Is Option888 a scam?

We have already advanced that Option888 is not a scam, but is it convenient to enter money into it?

According to our review, there should be no problems with entering money, and most importantly, not withdrawing it either. However, before deciding to invest through this website, it must be clear that since you do not have a license, if problems arise you will have to claim before the courts of the company's country of origin, that is, Samoa. For practical purposes this means that you cannot claim, since the expenses for travel, translators, etc., would surely make the possibility of claiming, not worth it. In addition, another of the main problems of this, is that if the broker fell into default, there is no fund to turn to that could return your savings, as it happens with regulated brokers.

Investment offer

When it's time to invest, this broker enables you to do so in a large number of assets, specifically 258, which is above the average of unregulated brokers and seems to us to be a more than sufficient offer for private investors. It especially highlights the number of actions, but as we will see in the next section in all sections it offers a good variety. In addition to that it has an educational section, but the truth is that most of the links do not load and that it is in English, so for most New Zealand users it does not have much value. The same happens with the news section, which although it appears on the web, at the moment it is not developed, so they are services that we assume will be implemented in the future. Therefore, at the moment, the offer is limited to investment possibilities, which in any case are the most important.

Now let's see what offer of underlying assets are available to the users of this broker.

Binary options trading

As we have already mentioned, the offer of underlying assets of this broker is really good. Only in the stocks section, we found more than 120 underlying, but yes, you will not find a single New Zealand stock. However, this offer allows to diversify perfectly by economic sectors. As for commodities, you have 24 underlying commodities, a very respectable figure. In the indices section, it is where the offer is loosest with 19 and the IBEX 35 is not included among them either. Finally there are 30 currency pairs, in what is a good forex investment offer. Specifically, 6 of them are from the dollar with respect to other currencies. As it usually happens, the currency that offers the most pairs is the US dollar.

Welcome bonus

In principle, there is no bonus advertised as a welcome bonus that is granted automatically, with the user's prior approval. However, we know that the broker usually offers bonuses to encourage deposits, especially to its new users.

In the event that you are offered a bonus and you accept it, you should know that you will have to trade a volume of 30 times the bonus amount before you can withdraw the money, unless otherwise stipulated in the specific terms and conditions of your bonus. In principle, in an unlicensed broker like this, we recommend not accepting the welcome bonus, in order to be sure that you will be able to withdraw the money without a problem. About this particular, read on in the next section.

Option888 payment methods

The methods of deposit and withdrawal of money from Option888 seem to us sufficient. You can see them in the table below:

To withdraw money from this broker, the welcome bonus volume requirements must have been met, which as you have seen in the bonus table above is 30 times the bonus amount. If you have not received any bonuses, you will have to trade the deposited amount at least once. That is to say that if you deposit $ 500, you will have to make operations worth $ 500 to be able to withdraw them. If you do not, a commission of $30 will be applied to you.

The minimum amount that can be withdrawn is $250. Also, keep in mind that before making the withdrawal, they will ask you to show your data. This is done by sending them a copy of your identity card or passport, a proof of residence that may well be a bill for a public service that is in your name and domiciled at the address you have given them and a copy of your credit card. If they ask for a copy of your credit card, remember to cover the security numbers on the back and the first or last numbers of the card, so that only the first or last 4 are uncovered.

In addition, if you do not trade for 91 days, you will be charged a commission of $30 or 1% of your deposit as a maintenance fee. Finally, it remains to comment that if you want to enter more than $ 2000 you can be asked to sign a document of conformity.

Option888 Security and Regulations

When a broker does not have a license, the regulations to which he must adhere are simply those applicable in his home country. In this case, Samoa. If money is to be invested, the ideal is that the user is protected by the laws of his own country or more protective ones. In the case of New Zealanders, or dollar citizens in general, finding a more protective legislation than their own, it is difficult. Therefore, when money is entered into this broker, important security aspects are waived, such as the guarantee fund, for insolvency cases that we had already mentioned, the procedures to avoid conflicts of interest, the control that the execution of orders is always done in the way that most interests clients, the obligation to have client funds in segregated accounts, etc.

From Estafa.info we have no doubt that the broker behaves lawfully and there is no fraud. As for insolvencies, logically they are the least interested in them. However, these are situations that, although unlikely, are possible and constitute risks that we have no reason to take, unless there is some specific broker service that compensates us for the risk in such a way that it is worthwhile. In short, we are not facing a very bad option, but there are other obviously better ones.

Customer service

The customer service is available in German and English and can be contacted by phone, web form, live chat and e-mail. The service times are not excessively long, although in the case of mail they can exceed 24 hours. Even if you are not a customer, you can contact them via live chat by simply giving them your name and email. In this section, the platform does not stand out for good or bad, but we cannot say that it deserves a bad brand.

Functionality of the website

The website has a Moderna design and allows you to invest comfortably, without downloading any software. You can easily select the assets you want and the type of binary option you consider appropriate, through a tab system. The platform allows you to choose between maturities ranging from 5 minutes to 4 hours. In the central part you will be able to see the chart of the asset, which you can configure to view it in the form of a candlestick chart or as a normal line chart. In addition, you can view such graphs in time terms ranging from 1 minute to a day.

Mobile application

There are two mobile apps, one for Android and one for Apple that are updated on a regular basis. In them you can carry out the same functions as on the web. From deposits or withdrawals, to trading binary options or consulting asset charts, through the possibility of contacting customer service. In short, everything you may need when you get ready to use the application.

Therefore, these are two good apps, perfect for not missing opportunities when you are away from home or from the New Zealandaccess to the desktop computer or even the laptop. With them, the only thing you will need is a good internet connection, so that it does not fall while operating. In the event that you do not have it, we recommend that you refrain from trading, because a disconnection at an inopportune moment can cause you an upset. So you can trade from anywhere, but always make sure you have a stable connection.

Finding

Option888 is a safe broker, it is not a scam and allows you to trade binary options in a functional way. However, the fact that he does not have a license cannot be ignored. This entails much lower security guarantees, and for many users it can be a determining factor. If you want to heal in health, choose one of the the safest binary options brokers . If despite not having a license you want to try it, do not make a very high income until you are totally sure that you can withdraw the money without problems.

The investment offer is very attractive with a large amount of underlying assets, and more than 100 international shares, which from any traditional bank would mean a large amount in commissions. He also carries out the usual security procedures to make sure that no one can take out your money at your place. In short, a broker in which you can try investing.