OptionBit Review

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Overview

OptionBit was launched in 2010 and since the OptionBit is working hard to maintain its reputation as very effective binary options broker. You can trade from a nice range of trading assets. Trading with OptionBit is easy so even novice can trade effectively – if you a newbie OptionBitoffers educational materials on their official website.

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Details

Broker OptionBit
Website URL www.optionbit.com
Founded 2009
Headquarters Cyprus
Support Number 0044 (0) 203 150 0934
Support Types support@optionbit.com
Languages English, Romanian, German, Spannish, Russian, Turkish, Arabic, French, Portugese, Italian, Korean, Japanese
Trading Platform TradoLogic
Minimum 1st Deposit $200
Bonus Bonus for First Deposit
Payout 82%
Free Demo Account No
Deposit Methods WireTransfer, Credit Card, MoneyBookers, Click And Buy, Debit Cards, Webmoney
Withdrawal Methods Credit Card, WireTransfer, click and buy, webmoney
Types of Assets Forex, Commodities, Stocks, Indices
Option Types High or low option, One touch
US Traders Allowed Yes
Mobile Trading Yes
Tablet Trading Yes
Overall Score 4.9

Screenshots

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Pros

  • Multilingual support
  • The extend or Close feature before expiry time
  • Auto trading software
  • Professional support team

Cons

  • No money back policy in case of loss
  • High subsequent withdrawal fees

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OptionBit History and Background

Experience is an important factor when regarding the financial market. The binary option market went through a crisis in Cyprus two years ago in 2013. As a result a lot of local brokers said goodbye to their businesses and either closed down or were bought out. OptionBit.com was not among that particular group. The company not only managed surviving the crisis but also was able to comply with the far more stringent rules imposed by CySEC. OptionBit’s team of employees is exceptionally experienced in the field due to the fact that they were among the first to join the market back in 2010. If you are searching for a reliable, trust-worthy broker that has a stellar reputation for providing quality services, innovative solutions and keeping matters simple, then OptionBit is the broker for you. It is an unfortunate fact, however, that the company does not accept U.S. clients at the moment.
Given its innovative nature, OptionBit was among the first brokers that decided to go beyond the traditional Call/Put and One-Touch options and opted in to offer range-type varieties and quick-paced turbo options. By going with the Tradologic platform of Tech Financial, the company was able to introduce Close, Extend and a special option on the Rollover feature that gives you the opportunity of automating the whole Rollover process. The system sends you an alerting message regarding a given trend and sets up a repeat function in order to maximize the advantages of the market action in real time. Additionally, these useful trading tools are coupled with the in-house developed free alert system AlgoBit that employs software algorithms in order to spot high-potential patterns in market movements. Provided with these alerts you won’t have to spend countless hours standing and looking at your screen.

OptionBit provides a total of 69 of today’s most preferred asset choices in stocks, forex, indices, and commodities. Payoff ratios average rates closer to their respective upper limit of 81%, which is not the case with the majority of brokers out there. There are a lot of training and support materials at the firm’s website which can be converted in a multitude of different languages. OptionBit made depositing funds an easy and effortless task, and also added an option providing a monthly free withdrawal. Client funds are segregated in compliance with the regulations of CySEC and further protected by the Investor Protection Program of the Cyprus government. The firm’s hallmarks are manifested in simplicity and flexibility. The company has managed achieving rare longevity by providing top-level services and wining over a loyal client base.

Features

OptionBit.com was founded back in 2009 and has managed accumulating a reputation of a leader and innovator in the industry. It is fully compliant with all CySEC regulatory measures. All customer deposits are subjected to segregation from the firm’s capital for the purposes of proper safety. The company offers almost 70 asset choices (Currency Pairs – 13, Indices – 13, Commodities – 4, Equities – 39). Payout levels are in the range of 70% to 81% with average figures leaning more towards the upper end of the spectrum. There is a wide array of option choices fitting every trader’s liking – classic high/low, one-touch, range, touch/no-touch and turbo varieties. Auto-traders makes it possible for you to roll over profits when a given trend is anticipated, using as basis the terms imposed by you. The flexibility factor is greatly boosted with the use of Close, Extend, Auto-trader, and Algobit, which form a group of unique alert systems that distinguish high potential situations. The widely known TradoLogic binary option trading platform is extremely user-friendly and flexible. There are a number of promotions and various welcome bonuses. The firm’s client service department is available 24/7 in 7 different languages and the website can be converted into 11 different languages. There is a wide array of educational materials and tutorials, which includes 21 videos on demand and more, that suit the needs of both beginners and veterans.

Accounts

Standard account types feature welcome bonuses in the range of 30%-50% in accordance with the amount of your initial deposit. VIP accounts provide additional benefits to users. The minimum deposit amount is USD 2000. Unfortunately, U.S. customers are not accepted by the firm at the moment.

Transactions

You can carry out deposit operations via credit and debit cards, wire transfers, MoneyBookers (Skrill), Webmoney, Click and Buy and a number of local payment options. Withdrawals are handled in a prompt manner if all mandated ID data is submitted in advance. You get one free withdraw a month, with a non-significant charge for the ones to follow during the month (Various banking intermediates might impose their own individual fee).

Platform

OptionBit decided to go with the TradoLogic platform of Tech Financial, which has become quite popular due to its user-friendly screens and easy usage. You don’t have to download any additional software to operate the platform. You can access the market via a mobile app and through any device that supports an Internet connection.

Information

There is a wide array of video tutorials and educational materials to serve the needs of both beginners and pros. The training program of OptionBit begins with the basic binary options, teaches you how to trade and make the best of the features of the trading platform and ends by introducing you to more complex trading strategies. The company’s AlgoBit free alert system also should warren your attention as it will aid you in your trading efforts by helping you find opportunities for success, even though it does not guarantee it. You should first develop your trading skills through extensive and careful studying of the matter and general market.

Support

The firm’s customer service department is very experienced in the field and handles all matters in a professional manner, providing support 24/7 via e-mail, live chat and phone in a minimum of seven different languages. The company website can be converted into eleven languages.

Safety

User deposits are subjected to a segregation process from the firm’s operating capital and are further protected by the local Investor Compensation Program for up to 20,000 Euros. All of your personal information and trading data is encrypted via the latest in the field of 128-bit SSL technology for achieving a greater level of security.

Conclusion

OptionBit is among the veterans in the field of binary options and its experience is evident in every single market aspect. The company has managed to solidify its leading position and has proven over and over again that it is capable of introducing new pieces to the binary options world. Payoff averages are on the high side and all provided support and education materials are top-notch. Given CySEC’s regulatory oversight you basically have nothing to worry about. OptionBit has everything you may ever ask for and as so it is only natural that it will remain at its top position of the market for years to come.

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