Rating Index
Pros
Established since 2008, Option888 has a history of serving over 10,000 traders, indicating a level of reliability and experience in the market.
The platform offers a variety of trading options including forex, CFDs, spread betting, and social trading, catering to different trading preferences.
Option888 provides a demo account for users to practice trading without financial risk, allowing beginners to familiarize themselves with the platform.
Cons
Option888 is unregulated, which raises concerns about the safety and security of traders' funds, as there is no oversight from a recognized regulatory body.
The broker charges deposit and inactivity fees, which can impact overall trading profitability and may deter some traders from using the platform.
Customer support has received mixed reviews, with reports of slow response times and limited support features, potentially leading to frustration for users needing assistance.
OPTION888 broker Accounts
Option888 Account Type
Option888 offers a single type of trading account designed to accommodate various levels of traders. The minimum deposit required to open an account is $250. This account allows traders to engage in forex trading, CFD trading, spread betting, social trading, and share dealing. The platform supports multiple currencies, including USD, GBP, EUR, SEK, NOK, and DKK, catering particularly to traders in Scandinavian countries. Unfortunately, Option888 does not currently provide a demo account for practice, making it essential for new traders to understand the platform before committing real funds.
Option888 Broker Account Opening Process
To open an account with Option888, follow these steps:
- Sign Up: Visit the Option888 website and fill out the registration form with your basic information.
- Email Confirmation: After registration, you will receive an email containing your login details.
- Identity Verification: Submit identification documents for account validation, which may include a scanned copy of your passport or national ID, and a recent utility bill or bank statement to verify your address.
- Minimum Deposit: Make the required minimum deposit of $250 to activate your account.
- Trading Platform Access: Once your account is verified and funded, you can access the trading platform and start trading.
It is important to complete the KYC (Know Your Customer) compliance process promptly to avoid delays in accessing trading features.
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