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Binary8 Broker Review

  1. This broker is closed. Try Banc De Binary. 

    Binary8 is a company that has facilitated professional binary trading since 2009. They are run by forex traders and analysts. They offer a good trading platform that offers most of the features in one place and a fast withdrawals policy with many deposit methods available. We believe the fast withdrawal policy, paired with a nice and fast platform are Binary8 main selling points for which we recommend them for, however, traders will have to weight gains and pros themselves, depending on their own preferences. Many of these features come with strings attached and Binary8 review is a must read to avoid any issues in the future.

  2. Binary8 offers several loyalty programs, depending of the amount of money traders initially deposit on their trading accounts. These programs include features that become available as customers increase their initial deposit. Here too, features are part of the package, however, the funds deposited are not seen as payment and are used by the trader for trading.

    Binary8 Basic Account

    • from $250 deposit
    • up to 25% bonus
    • fast withdrawals

    Binary8 Plus Account

    • from $500 deposit
    • more than 1 withdrawal monthly
    • up to 35% bonus
    • fast withdrawals
    • 1-on-1 session
    • live trading session

    Binary8 Premium Account

    • from $1000 deposit
    • up to 50%
    • fast withdrawals
    • more than 1 withdrawal monthly
    • personal training session
    • live trading training
    • weekly strategy training

    Binary8 Ultimate Account

    • from $10000 deposit
    • up to 100%bonus
    • fast withdrawals
    • more than 1 withdrawal monthly
    • 1-on-1 session
    • live trading session
    • Weekly strategy session
    • Higher returns

    We have listed fast withdrawals as a feature here since it is a guarantee of Binary8 that withdrawals are processed the same day. Bonuses, however, can halt withdrawals sometimes, so for Binary8 review we want to let traders know about terms and conditions set by the broker. The minimum turnover requirement is 40x of the bonus amount.

    In the T&Cs we find this highly unfair policy that states that no withdrawals can be made, not even from client’s own funds until 25% of the turnover volume has been reached. We feel this is something we need to warn traders who take bonuses without reading T&Cs about.

  3. Try trading with an award-winning broker like IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs
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  5. Trading platform by Binary8 is a full window experience that places the chart at the centre. On the left side are available binary options at the moment. On the right side is the control panel that allows traders to place trades in the system. Traders can switch between three types of charts by clicking button above the asset class choice drop down menu. Platform can also go full screen, however, since it already takes the full browser window, extra space is really not needed.

    What platform provides in space and usability, it lacks in trading opportunities unfortunately. During the Binary8 review we were stuck with high/low traditional options. There are no other binary options types, and the options offered are exclusively short term – expiry time is ranging from 30 seconds to 60 minutes. This is easy to understand considering the user friendliness of the trading software – it is really build for fast paced dynamic trading some traders prefer. In addition to traditional high low however, under assets, traders will discover pairs. This really saved the overall impression of the platform in the Binary8 review. We are huge fans of pair options trading and Binary8 offers it.

    Overall there are 33 stocks, 10 commodities, 20 indices and 14 currencies. The trading here will mostly satisfy traders who prefer stocks in short term positions, since there are considerably more opportunities to build a portfolio.

  6. If you want to trade with an award-winning licensed broker, we recommended using IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs
  7. Binary8 is especially geared toward the Chinese market. The website has English and Chinese translations. As we usually do for our articles, during the Binary8 review, we tested the support via live chat since we believe this is the fastest and probably the most useful way of getting help for most traders. It also does not require leaving the current browser tab to write a mail. It should also be faster than e-mail communication.

    With Binary8 review, the chat function did not really satisfy. We posed a question and got no answer in 4 minutes. Eventually we had enough of staring in the empty chat window, that due to the fact it gave no feedback if we are waiting for a representative or if it was online or not, felt inactive and useless. In that moment a reply appeared, however it was a simple no, without any greet. We thought it was pretty unprofessional.

  8. Try trading with an award-winning broker like IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs
  9. 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.

  10. Conclusion:

    We make it our mission to not recommend anything but the best – which, according to industry experts, is IQ Option, the top regulated broker for your country with a minimum deposit of ONLY $10!

    • FREE $10,000 demo account
    • Award-winning trading platform
    • Licensed and regulated broker

    Trade with an
    award-winning broker
    like IQ Option



    Between 74-89 % of retail investor accounts lose money when trading CFDs
  11. Your capital is at risk