There are hundreds of stories that hound the internet about people getting ripped off by scams and fraudulent online activities. These stories often make it difficult for legitimate online traders to stand their ground. This review of the V8options binary trading platform aims to dispel the cloud of doubt that may still be hovering over some traders’ minds.
This review delves deeply into portion of the trading platform, specifically the financial aspects. There is a detailed analysis of every component of the platform, as well as an analysis of the different processes that could make or break a trader’s success. Hopefully, you should gain a better understanding of how V8options works once you are done with this review.
An Analysis of The Broker’s Website
Binary Options trading is one of the fastest-growing forms of trading in the world today. More and more people are taking their chances by signing up for accounts with various binary options trading platforms. But a certain amount of caution has to be applied when choosing a broker so that you don’t fall victim to fraud. This entails keeping a few guidelines in mind when looking for legitimate brokers.
Some of these guidelines include the type assets that the broker offers for trading, its ability to offer competitive returns, and the presence of updated live feeds on the website. Beginners can also read up on the reviews for each broker so that they can gain a better understanding of how the platform works.
Just like any other well-established broker, V8options also has a website that serves as a trading platform for traders. At first glance, the website automatically invokes thoughts of financial stability. The design is cool and does not contain a lot of the hype that normally litter other websites. The only ‘decorations’ on the home page is V8options logo and a button that beginners can click so that they can get started. There are also a few banners that advertise what V8options is all about.
Any other information that traders might need to start out with are provided in a straightforward manner, either through direct links or on separate tabs. Also, all the components that are needed in a great website are well-placed on V8Options homepage. These components include:
The Primary Tabs
There are six primary tabs on the V8options website. These are:
- Trading Academy
- About us
- Trading Room
Hovering over each tab labels shows a list of the subcategories that each of the tabs contain. This makes it easy for traders to navigate to every part of the website that they want or need to go to. The way that the tabs are arranged also makes it easier for traders to find all the necessary information that they need so that they can successfully trade. For instance, under the Support tab, traders will find an FAQ list and the broker’s contact information.
The only tab that does not have a sub-category is the About Us label. This makes sense because it fits with the overall impact of the entire website: straightforward. This means that clicking on the About Us tab redirects traders to all the necessary information that they need about V8options. This information includes the broker’s vision and mission statements.
Contacting the Broker
In keeping with V8option’s method of keeping its website straightforward, the contact information can easily be located. The phone number and a link for chatting with a live agent are listed at the top right-hand most corner of every page. However, in case traders might need to contact the broker via email, they would have to scroll all the way down to the bottom of the page first. Once they locate the tiny link that is labeled Contact Us, they can find a list of every email address that they might need.
These email addresses include:
- The support team’s email address
- An email address for the affiliate department
- An email address for the banking department
Traders can also send a direct query by simply filling out a pre-loaded form that is situated right in the middle of the page. A live chat window also automatically pops up each time you go from one page to another. Traders who don’t have any questions to ask the live chat agent can simply exit out of the live chat window. They can also choose to minimize it just in case they might have any questions while browsing.
Traders who have been trading using other platforms or with other brokers have often complained about the live chat feature. One of the complaint centers around the fact that they never get any response once they try to chat somebody up. This is not the case with the V8options live chat window. The response time from the live agent takes only a few seconds after a query is sent. The responses are also relevant to the trader’s query.
Another plus factor of the live chat option is that the agent does not sound like a machine at all. The responses are said in a familiar manner that only a real human can use in an actual conversation. Also, in case the query becomes is too technical or is about something other than binary option trading, the agent goes out of his/her way to look for answers. For instance, a query was sent asking about why the country field on the sign up form is already filled in with the country where the trader is actually located. This can be a bit unnerving given the fact that the trader has not typed in any of his information on the sign-up form yet.
The agent who answered the live chat query did not have a ready answer. However, instead of leaving the question hanging, she went to her account manager and confirmed the answer: the information was based on the trader’s IP address. In the field of customer service, what the live chat agent did is going above and beyond what is expected of her. Also, the time stamp on the actual conversation shows that the agent responded to the query in less than a minute after the query was sent.
The sidebar is one of the most important components in any website. Most online marketing websites make use of the sidebar to obtain more leads for their email marketing campaigns. In the case of V8options website, the home page does not contain any sidebars. However, once the visitor clicks on each of the tabs, he would find sidebars that offer more information about the site’s contents.
One particular feature that is listed on a sidebar in V8option’s website is the Social Trading portion. This part contains a live feed of what other traders are doing on the site. Specifically, that part shows how much each trader lost or gained within a particular time frame. The feed also shows which option a particular trader has opened and at how many points. Clicking on each activity on the live feed redirects the site visitor to the trading room.
Overall, the V8options website looks clean, sleek, and fresh. You will not see any annoying ads at the sides of the screen, making it look even more professional. However, one thing that might not be pleasing to a keen website developer’s eye is that the sidebars on each tab mostly consist of the subcategories. These sub-categories are already discussed at length right in the middle of the page, which makes listing them down on the sidebars a bit redundant.
Another redundancy is the fact that a link for the Trading Room and the live feed for Social Trading are listed on one side of every page. But this arrangement is advantageous for people who do not have the patience to keep scrolling down looking for stuff. All they need to do is to click on a link on the sidebar in order to be redirected to the information that they are looking for.
The Sign up Process
The sign-up process for V8options is also quite direct. For starters, the sign-up option is visible in every page. As a matter of fact, visitors to the site would not be able to proceed onto certain pages unless they are logged in as registered users.
On the home page alone, there are two links that traders can use:
- The open account link
- The sign up link
Clicking on either one of these links redirects traders to the sign-up form. The form contains all the necessary information including:
- The first and last name
- The trader’s email address
- The password to be used on the site
- The country
- The home phone number
Once all the fields are completely filled out, you can just click on the create account link. This link is located at the bottom of the form. After clicking the create account link, traders receive an email that allows them to activate their V8options account. Note that every field on the sign up form is mandatory so be sure to fill it all out in order to avoid delays. Traders have to click on the ‘confirm email’ link that is provided on the confirmation email so that they can avoid any issues while trading in the future.
They would also be unable to proceed with any other transaction on the website unless they confirm their emails. There is a message that pops up on the screen reminding them of the confirmation process. This pop up blocks everything out, so traders won’t be able to click on any other tabs or links.
One thing that is noticeable about the confirmation email is that there is a disclaimer at the bottom; it only has two sentences, but it effectively reminds traders of the most important thing that they have to keep in mind: to be careful when taking financial risks. For people who are still doubtful about V8option’s legitimacy, this disclaimer alone proves that this broker means business in every sense of the word.
Signing up Via Facebook
For those who do not have the patience to type down every bit of information on the sign up form, there is a more convenient option. They can simply click on the link labeled “sign up with Facebook” and they should be good to go. One of the primary concerns about this process is that it might give the broker permission to automatically post the trader’s trading activity on his Facebook page. This fear is unfounded as proven by the disclaimer on the Facebook sign-in page that pops up.
The Payment Options and Deposit
After confirming the email address, traders would then have to fill out more form. But this time, the forms pertain to their financial information. Some traders are not too happy about the part where they have to post a deposit before they can continue on the site. However, note that this deposit allows them to start trading right away. In case they do not wish to trade on any of the posted assets at this time, then the deposit is kept on their personal accounts until they are ready to use it for trading. They can regularly keep an eye on this amount by simply clicking on the balance history option from the drop down list on their usernames.
The balance history page also shows a detailed list of all the transactions that the trader has done. This information is divided into three categories:
- Transaction summary – lists down the deposits, profits, bonuses, and withdrawals. The amounts are listed in the trader’s chosen currency.
- Pending withdrawals – the first thing on this list is the date of the withdrawal. It is then followed by the amount withdrawn, the method of withdrawal, and the status of the withdrawal. There are also options to give up and cancel the withdrawal.
- Balance history – this portion lists down the invoice number, the date of the invoice, the description, the trade number, credit, debit, and remaining balance.
This detailed view of every single transaction that the trader has made on the site provides one thing that every trader needs: peace of mind. After all, no one wants to risk his money trading on an asset and then have no idea where that money went or how it was lost.
The minimum deposit amount for V8options is USD$250 and the maximum is USD$5000. International traders are not limited to using the US dollar as the currency for trading. This often entails having to pay for various fees and interest rates once the dollar amount is converted to the local currency. The V8options platform also allows traders to trade in any of the following currencies:
- Brazilian Real
- British Pound
- Australian Dollar
- Chinese Yuan
All the trader has to do is to choose the appropriate currency on the drop down list. Note that for each chosen currency, a conversion rate automatically pops up right below the drop down option. For instance, if you choose AUD, then current AUD to USD conversion rate automatically pops up underneath the option. Traders have three payment options to choose from:
- Credit or debit card – the types of cards accepted on the site include MasterCard, Visa, Visa Electron, Diners, Solo, and Maestro. Once the deposit has been made, the deposit would show on the account right away.
- Wire transfer – the deposit might take a minimum of 3 business days to a maximum of 10 business days before it shows on the trader’s account. Note that the counting starts from the time that V8options has received the funds.
- Neteller – this option only accepts three types of currency: USD, EU, and GB. Once the transaction is finished, the deposit is posted on the account immediately.
- Web-based payment options – these options include iDeal, Giropay, WebMoney, and Sofort. This is the only payment option wherein traders can make a maximum deposit of $10,000. Once V8options receives the funds, it can be posted on the account within the same business day.
At this time, traders do not seem to have an option to use PayPal for the deposit. However, V8options do have all the bases covered with all the deposit options that are already available. Traders who are not comfortable with posting their credit or debit card information online can easily choose between the other three deposit options. Creating an account on Neteller is free and there is a long list of currencies to choose from.
The good news is that traders can use the same information once they are ready to make a withdrawal on their accounts. This means that they wouldn’t have to keep typing a lot of information on separate forms.
The Fund Safety Guarantee
Every financial transaction bears some risks. The risks are even higher when the transaction is done over the internet. These risks are further amplified by the proliferation of scams and fraudulent brokers who are only out to get your money without providing any return on the investment. In this regard, V8options has added a safety clause on its site that is aimed at providing traders the peace of mind in knowing that their money is kept in a safe place.
For one thing, V8options makes sure that all the funds deposited by each of its traders are properly segregated. This effectively ensures that any confusion with regard to which money goes to whose account is completely avoided. This method also ensures that wouldn’t be affected by any financial turmoil that the broker might experience at any point.
Aside from the segregation, V8options also takes the following precautions:
- All of the transactions that are made on V8options platform are protected with secure socket layer technology or SSL. In layman’s terms, SSL works as a shield that keeps all confidential information away from prying eyes.
- The broker sticks to the provisions of the international Anti-Money Laundering Law or AML. It might come as a surprise to a lot of people that such a law is in place to regulate the activities of various online binary option brokers. This law is one of the reasons why the processing time for a withdrawal often takes longer than when making a deposit. The broker needs to ensure the transparency and legitimacy of the transaction according to the provisions of the AML.
Do note that all of the financial transactions and trader’s activities that happen through the V8options website are recorded and stored. This includes phone calls and emails between traders and account managers. The confidentiality of these transactions is maintained at all times. However, any transaction can be pulled up from storage is there is sufficient cause to do so.
These precautions are the reasons why V8options has managed to maintain its reputation as a legitimate broker.
The Trade Types and Accounts
Just like any other broker, V8options also offers various binary options trade types. These trade types include:
- 60-second options – also known as ‘turbo’ options. These are currently the most popular trade type in the world. Traders can choose between several expiry times:
- 30 seconds
- 60 seconds
- 2 minutes
- 5 minutes
This trade type is perfect for traders who are unable to spend more than a few minutes of trading per day. The short expiry time also allows traders to see immediate results, which then gives them enough time to look around for other assets to trade or to try a different trade type. This type of trading also allows traders to trade on commodities that have fewer fluctuations, which means that its movement is more predictable.
- High and low trading – this trade type has longer expiry times:
- 15 minutes
- 30 minutes
- 45 minutes
- One hour
V8options traders can also choose an expiry time that is longer than an hour. One disadvantage of a longer expiry time is that the payout rate is much lower than that of the turbo option’s payout rates. However, traders gain the advantage of being able to trade on other assets that often undergo abrupt and frequent fluctuations. A perfect example of this is forex trading.
It is often easier to predict the long-term movement of foreign exchange trading than its movement within a 60-second time frame.
- Weekend options – this is a variation of the high and low trade type because the expiry time is much longer than just a couple of hours. This trade type also has a fixed schedule. V8options weekend trading starts at 10pm GMT on Friday and ends at 8am GMT on Sunday. Another option is to start at 2pm GMT and end at 7pm GMT on Sunday. The expiry time for all options traded over the weekend is on at noon of the following Tuesday.
- Strategix – this trade type offers the highest payout rates. Some traders can even win a yield of up to 400% if they make use of the right trading strategies. This trade type also allows traders to trade assets that may not be available for trading through the other trade types. These assets are often referred to as ‘exotic’ assets.
Having enough options to choose from gives traders enough leeway to find their footing. This is especially true for those who are just starting out with binary options trading. Experts suggest that they begin trading on assets that they have had enough years of experience with. For instance, people who have had enough experience in forex trading can choose the high and low trading type as a good starting point.
On the other hand, day traders can make use of their knowledge of stock trading by starting with the turbo options. Once the trader has become adept, he can then branch out to the more complicated and long-term trade types.
Traders can choose from four account types:
- Bronze – this requires a minimum initial deposit of $250.
- Silver – the minimum initial deposit required for this is $1,000.
- Gold – this requires a minimum initial deposit of $5,000.
- VIP – this requires a minimum initial deposit of $10,000.
All of the account types give traders access to the following:
- The trading academy
- The 24-by-7 support system
- The safety guarantee for all deposits and withdrawals
- Access to three trading types: Turbo Trading, High and Low, and Weekend Options. Bronze accounts are not eligible to trade via the Strategix trade type.
- Access to social trading.
- Access to the platform via mobile trading.
- A starting bonus. Do note that the percentage of the bonus depends on the type of account:
- Bronze: 10%
- Silver: 25%
- Gold: 50%
- VIP: 100%
Some of the perks that VIP accounts get to enjoy include:
- A 1% extra payout on all won trades.
- Unlimited access to one-on-one professional support. Gold accounts get a three-time access; silver accounts get a one-time access; while bronze accounts have no access at all.
There is one more account that traders can sign up for although this is not listed under the accounts type page. The account is referred to as Islamic accounts and traders can check with an account manager if they wish to sign up for this.
Trading Tools and Other Must-haves
V8options provides an uncomplicated trading tool that is easy to understand and use. Traders only have to choose from five different options:
Once they have clicked on the tab that corresponds to their choice, they can then go through the trading process. The steps for trading on this platform involve:
Step 1: Choosing which asset to trade. There is no need to do any guesswork since all the available assets are conveniently listed on a drop-down box.
Step 2: Selecting whether the value of the asset is about to go up or down. The up and down buttons are clearly marked and color-coded so there shouldn’t be any confusion on this step.
Step 3: Choosing the trade type and the expiry time. Once the trader has chosen an expiry time, the time automatically pops up at the upper right-hand corner of the screen. For instance, if the time is 10:01PM and the trader chooses an expiry time of 2 minutes, he would see this pop up: Today 22:03. That means that the trade expires at 10:03PM GMT. A timer also appears showing how much time the trader has left to trade on that asset.
Step 4: Choosing the investment amount. Again, the choices are listed on a drop-down box and all the trader has to do is choose the corresponding amount.
Step 5: Clicking on the Trade button to officially start trading.
Assets that are not yet available for trading are clearly marked with the date and the time when it would become available.
The Asset Index
This portion shows everything that is currently being traded in the entire platform. The asset index is also divided into the same five categories that can be seen on the trading tool. This makes it easier for traders to track their trades and to observe the current trends before they dive straight into the trading process.
Some of commodities and indices that are currently being traded by various traders on the V8options platform include:
- Copper futures
- Crude oil future
- Gold/US dollar FX spot rate
- Natural gas futures
- Various currency exchange rates
There are also trades for stocks of some of the world’s leading online marketers. These trades are based on figures that are obtained from the New York Stock Exchange, Madrid Stock Exchange, London Stock Exchange, NASDAQ, and a few other leading stock exchanges in the world.
These examples show that the V8options platform trades on legitimate assets that are based on some of the world’s most reliable financial organizations. Traders do not just rely on word-of-mouth or information that seemingly came out of thin air, as is usually the case with fraudulent brokers.
V8options is clearly aware of the shift in the way that people are accessing the internet. More and more people now prefer to use their mobile devices to check on their online transactions rather than lugging bulky laptops along everywhere. With this in mind, V8options makes it easy for its traders to trade anywhere and at any time. Traders only need to the download the V80ptions mobile trading application so they can get started.
As expected, the mobile application has two separate designs for compatibility with the two leading types of mobile operating systems: Android and iOS. This effectively ensures that traders are updated with the latest trends in binary options trading. They can also take advantage of any trend that they think would be highly profitable for them without having to stick around in front of a computer for hours.
Understandably, new traders are bound to have loads of questions about binary options trading. They may also have questions about using some of the features of the trading platform. Just like any other dedicated broker, V8options has all the questions covered.
As previously mentioned, the platform has a dedicated live chat system that provides assistance at any point during the entire time that the trader is logged on to his account. The chat support is also available 24 hours a day, so no matter where you are in the world, there would be someone waiting on the other end of the chat room to answer your queries. Whenever necessary, the chat support agent would assign a trader to a dedicated account manager who can further assist him with his trading activities.
The only instance wherein you would be bumped off by the chat support agent is if the query can be answered through the FAQs section or by browsing through the other pages on the site. In this case, a direct link to the answer would be provided. The chat support agent does not end the conversation without first asking whether the trader needs assistance with anything else. Aside from the chat support, V8options also provides assistance through phone and email.
The FAQs section
Sometimes, some questions pop up repeatedly though it may be asked by different people at different points in time. V8options has addressed these frequently asked questions by adding a FAQs section on the platform. The section is highly extensive and includes questions that some new traders might not even have thought about asking yet. The section is also well-organized as it is divided according to the topic that it touches on. These divisions include:
- My Account – answers all questions that are related to the trader’s account, from the sign-up process to updating personal details. Note that V8options is one of the few binary options trading platforms that offer Islamic Accounts to its traders. These accounts are in complete compliance with the provisions of the Shariah Law pertaining to finance trading. Traders who wish further assistance with Islamic Accounts are typically forwarded over to account managers.
- Account Documentation – answers all questions pertaining to the necessity of submitting personal documentation to the broker in order to complete the account sign up process. The broker usually requires the submission a copy of the trader’s valid ID and a proof of address so they can keep this on the trader’s file. The trader can still start trading even if the documents are not in yet but his options would be limited.
The other labels on the FAQs section are self-explanatory, including:
- Company FAQs
- General FAQs
- Trading Platform
At the bottom of the section, traders can also find a section that answers queries on how to become an affiliate or a partner of V8options. Interested traders can either fill out the affiliate program sign-up form or send an email to V8options affiliate programs department. One advantage of becoming an affiliate is that it gives you the chance to be the first to get hold of training materials that play a big role in binary options trading success.
V8options also has a lucrative payout system for its affiliates and partners. This includes a 20% revenue share and a chance of earning a maximum of $200 for every referred client. V8options also has a dedicated website that is separate from the trading platform. Affiliates can only gain full access to the site after they have completed the registration process.
The Follow up
Aside from the initial confirmation email, V8options does not usually send any other emails to its traders. This means that traders can breathe a sigh of relief since they do not have to deal with the monotonous act of deleting marketing every day. Another type of email that they might receive from V8options is a password reset email. This one is only sent if they have specifically asked for it.
This is a welcome change from the other platforms that relentlessly send emails promoting their site or advertising bonuses and so on. It also adds to V8options’ reputation as a professional trading platform.
Now that you’ve read what V8options has to offer, what’s keeping you from signing up? Registration is completely free and you also stand to gain a lot even from your very first trade. V8options also ensures that its traders are not left hanging in the air not knowing what to do. They provide various training materials that traders can make use of in order to hone their trading strategies.
Some of the materials may require a fee. However, the profits that you stand to gain just by making use of the strategies provided on the training would more than make up for whatever you paid for the training.
Lastly, always remember that achieving the financially comfortable life that you have always dreamed of requires a little risk and a lot of effort. Granted, a wrong trade via the V8options platform may cost you to lose a few dollars. But isn’t it the same thing with every other platform? Trading entails wins and losses. But with the V8options platform, you have the assurance of winning back the losses slowly but surely. That is all the risk that any trader should be willing to take.