Binary8 review found that the banking policy of Binary8 includes a same day withdrawal processing guarantee. This is an excellent idea since customers want to take their profits with them as soon as possible. It is reasonable to mention here that traders need to verify their ID, and same day processing works only if they submitted all the documents.
The depositing process is more conventional and requires a minimum $250 deposit. Traders can use Visa, MasterCard, Skrill Moneybookers, Neteller and China Union Pay. Binary8 covers all the payment methods in all the important categories. Bank wire is also supported.
When withdrawing, there are no fees if customers use the credit card, however, bank fees require Binary8 to charge $25 for bank wire withdrawals. This is standard policy among most brokers. E-wallets withdrawal fee is 4%. For withdrawals to be processed the same day, the withdrawal request with Binary8 must be placed Mon-Fri, from 8am – 3pm GMT. Accounts become dormant after one month of inactivity and Binary8 charges a fee for dormant accounts for such withdrawals.
There is no fee to withdraw via credit card so long as the account didn’t fall into our dormancy rules, however any withdrawal using bank transfer will accompany a processing fee of $25 (25 EUR for EURO based accounts). The bad news is that minimum withdrawal is $100 and there is only one withdrawal per month for Basic Account holders (we take it that the Plus account is what T&Cs refer to as “standard” account). Another bad policy is the requirement to trade 10 trades or some turnover before any withdrawals are possible.
