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Binary8 Review

  1. Binary8 is a broker present on financials markets since 2009 and owned by Go Trading Technologies. This brokerage company is managed by group of financial experts on forex and binary options market.

    They offer slightly different trading platform than most traders are used to while trading binary options. During our Binary8 review, traders in South Africa can explore the platform and choose preferred trade options and other instruments for their trading process.

    For more detailed information, read below our Binary8 review.

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    Binary8 Trading Platform

    Selected software, used by Binary8 is Proprietary. Interface is user friendly and traders can easily navigate over the site. In upper right corner, traders can login to the platform and perform trades, once they get access to a variety of features.

    To begin trading binary options with Binary8, there is minimum deposit required of $250. Maximum bonus is unlimited, while payouts can go up to 90%. Binary9 minimum investment is set to $25 and maximum investment is $5000.

    This broker offers truly a wide range of different currencies for traders to choose from. They include EUR, USD, GBP, RUB, AUD, JPY, CHF, CNY and SGD.

    Tip: Consider IQ Option instead – the best regulated broker for South African traders with a minimum deposit of only $10!

    Binary8 Trading Features

    To traders in South Africa and worldwide, Binary8 broker offers a wide selection of different short term and long term trade options. Traders can choose among following trade options: One Touch, Pairs, Ladder Options, Turbo Trading, Long Term and Spot Follow.

    Combined with selected option, traders should select preferred time of expiration among several available, such as 30 s, 60 s, 2 min, 5 min, 15 min, 30 min and 1 hr.

    Binary8 trading platform serve as great place to trade with a variety of different assets. Traders in South Africa can choose among 33 stocks, 15 currencies, 10 commodities and 20 indices. To have a full list of underlying assets, we advise traders to click on Asset Index tab.

    During our Binary8 review, we noticed that platform is available on English and Chinese.

    Binary8 review revealed us they offer demo account to traders. This is especially important for traders, who are new to binary options trading and aren’t experienced enough. On Binary8 demo, South Africans can test the trading platform and see how it is to trade binary options in risk free environment. This means there are no risk of potential money loss since traders are actually placing trades with virtual money, provided by this broker.

    Unfortunately, there is no Binary8 mobile app that is available for binary traders. Mobile trading is popular feature that makes it available for traders to place trades from anywhere, while using tablets or smartphones. We hope that they do have plans to implement this useful feature on their platform in future time.

    Binary8 Account Types

    logo-binary8This broker offers traders in South Africa 5 account types, for them to choose the preferred one to deposit with. Each trading account differs from another one by different deposit amount and features available.

    Binary8 Student Account

    • minimum deposit $250 – $999
    • welcome bonus on initial deposit (equal up to 50% of deposit)

    Binary8 Standard Account

    • minimum deposit $1000 – $4999
    • welcome bonus 100%
    • 4 risk free trades
    • access to daily email news
    • access to a variety of education materials
    • 1-on-1 with Junior Account Manager

    Binary8 Silver Account

    • minimum deposit $5000 – $10000
    • welcome bonus 150%
    • 4 x $250 risk free trades
    • access to daily email news
    • market calls and trading strategies on disposal
    • access to a variety of education materials
    • 1-on-1 with Senior Account Manager

    Binary8 Gold Account

    • minimum deposit $10000 – $25000
    • welcome bonus 200%
    • 4 x $500 risk free trades
    • 5$ additional payout for preferred asset
    • access to daily email news
    • market calls and trading strategies on disposal
    • access to a variety of education materials
    • private Skype sessions
    • 10% lifetime loss insurance

    Binary8 VIP Account

    • minimum deposit $25000 – $250000
    • welcome bonus 500%
    • management level support
    • custom returns for binary and turbo payouts
    • plenty of extra benefits

    Binary8 Customer Support

    During Binary8 review, we discovered that traders in South Africa can get in touch with this broker through several ways, via email [email protected], live chat and web form. As mentioned above in our Binary8 review, traders can use this platform on Chinese and English, however, they are leaning more on Chinese market.

    For this Binary8 review, we tried live chat because we believe it is the quickest way to contact a broker in order to get valuable information regarding trading process. However, we weren’t very satisfied with customer agent. He did joined chat room soon, but wasn’t very helpful. We asked few questions regarding trading features and trade options and didn’t get back full information.

    However, it is important to mention that Binary8 offers traders an excellent Education Center, where both professional and inexperienced traders can use different techniques and analysis to increase chances of profiting in binary trading process. Traders can select among a wide selection of available materials, which cover following: in-depth courses for beginners and advance traders, ebook, social trading, different strategies, variety of tutorials and introductory videos.

    Binary8 Banking Info

    logo-binary8Before any payments with Binary8, each registered trader has to authorize his trading account by providing several documents:

    • copy of ID card
    • proof of address
    • copy of credit card, if it will be used when trading (front and back with covered digits)

    All documents have to be scanned and sent to Binary8 on email [email protected].

    For deposit methods, Binary8 offers a variety of different ways how to invest in binary options. It is possible to use:

    • debit/credit cards – Maestro, Visa Electron, Visa, Mastercard, Diners Club and American Express
    • bank transfer
    • e wallets CashU

    As stated in Binary8 review, minimum deposit is $250 and for bank transfer, this amount is set to $500. However, height of maximum deposit depends on selected payment method. For credit cards it is $5000, with bank wire is unlimited and for Western Union $10000.

    To be eligible for Binary8 withdrawal, South African traders first have to submit withdrawal request. It usually takes up to 3 business days for Binary8 to process the request and extra 5 to 7 business days for money to arrive on traders account.

    Minimum Binary8 withdrawal amount is $100 and for CashU and credit cards, no fee is charged. Traders who withdraw funds via bank transfer, will have to pay $25 fee.

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