OptionBit Review

Rating:

Selecting a Binary Options broker that is trusted can be a lingering and complicated process, as you constantly have to sort the wheat from the chaff. Fortunately, Binary Options Hub can assist you and facilitate your search. Today we would like to present you another reliable broker – OptionBit. To learn more about this brokerage, read our full OptionBit review.
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Min. Deposit: $200              Demo: No

Platform: TradoLogic          Bonus: No

Regulation: CySEC              US Clients: Yes

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OptionBit Review: About the Company

So, what is known about the OptionBit? Well, the website was launched on May 2010. It is owned as well as operated by Novox Capital Ltd., that has the registration number HE29218. Additionally, the have registered address at 60, Ragaena Street, 3rd Floor, 1010 Nicosia, Cyprus. As for the regulation, OptionBit is regulated by the CySEC with a license number 224/14, which is a sign of a legit broker.

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OptionBit accepts US traders. There are not much brokers at the moment that accept traders from this country, so this brokerage is worth checking out.

OptionBit Accounts Review

OptionBit offers three different accounts types. As a rule, your account type depends on the amount you deposit, the more money you deposit at once the better account you will get. Their list of the accounts is the following:

  • Mini
    Minimum deposit rate here is $250. They offer a range of bonuses, the welcome bonus and loyalty bonus up to 30%. Options training is presented by eBook and you are also granted basic video lessons. They will give you trading alerts as well as advanced charts and webinars even in the starting package. Mini account can also offer you a daily market review. Only 1 free withdrawal is granted and the account assistance is given to you.
  • Standard
    Standard account is an enhanced version of mini with a minimum deposit of $1,000. It offers you welcome and loyalty bonuses up to 50% and 75% accordingly. With all the features presented in Mini, Standard account offers full package of video lessons and daily market review is given twice a day. As for the additional feature, they will give you up to 5 tet-a-tet lessons. As for the support, here they offer General Support Services.
  • VIP
    The last account type bears the name of VIP. Here your minimum deposit must be $10,000 comparatively to $1,000 in Standard. The welcome and loyalty bonuses are stated to be up to 75% and up to 100% accordingly. Basically, VIP account includes all the features of the 2 previous account types, but with some changes. They offer here 2 free monthly withdrawals, unlimited 1 on 1 trading sessions and your own Market Expert.

Except for all these account types. They can offer you Diamond Account – with the minimum deposit of $50,000. Other information is classified and if you are interested, you have to call them for info or use other support options.

OptionBit Trading Conditions

This broker offers you 4 main types of the binary options. Let us see what they represent:

honest optionbit scam review accounts

  • Digital
    Your task is to identify whether the price of an asset will either increase or decrease prior to predefined expiry time.
  • Range
    Here you should define whether the price of an asset will actually remain within a particular range of prices or will trade out of that range at the predetermined expiry time.
  • Touch
    With this type of BO’s, a trader has to determine whether the price of the asset will touch a predetermined rate by the expiry time – the option will expire in-the-money once the rate is touched.
  • Turbo
    What this kind of binary option the trader trades digital trades such explained before with one distinction – the expiry times are 1, 2 or 5 minutes.

OptionBit Trading Platform

OptionBit uses TradoLogic platform that is generally good from the technical point of view as well as from the user feedback side. The platform is fast and no problems with order execution appeared during OptionBit review.

optionbit scam

OptionBit Deposits and Withdrawals

Deposits here are made via credit cards and electronic payment systems as well as bank wires. Withdrawals are made the same way. However, at this broker, the max withdrawal for C.C. cannot exceed the initial deposit amount, which is usual practice for Binary Options brokers. Most withdrawals made with OptionBit should only take 7 business days in case all the requested documents are sent and verified. Every account gets at least 1 free withdrawal per month and VIP gets 2, while any other withdrawals cost $30.

OptionBit Customer Support

As for the customer support, OptionBit supports 9 languages. On the website, there are 8 phone numbers that you can dial. Live chat on the OptionBit is present and operators are helpful. Waiting time did not exceed 3 minutes and the operator has spoken good English.

OptionBit Account Application

The account application looks quite usual. It is not complicated and requires no significant info.

honest optionbit review open account

 

Honest OptionBit Review Conclusion

Is OptionBit a good binary broker? Yes, you can trust it. If you like TradoLogic platform and trust CySEC license – you can definitely check out this broker.

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Conclusion
Date
Item
OptionBit Broker
Rating
4

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  • Love Passion

    OptionBit, is not total scam, but not honest broker, full of traps.

    End of April2016 I get assigned
    to OptionBit thru an automated software,
    for whatever reason it lost some of my fund, so I decided to withdraw
    all my balance out. My account and credit card verification already been done
    before I start trading to make sure no problem for withdrawal .

    After withdrawal requst, OptionBit pending my withdrawal till 5th
    business day, then an extremely PUSHY senior Manager named Patrick called up
    and said because of that day is NFP news day, they can’t approve my withdrawal,
    it can only be done next Monday (very ridiculous). After praising himself how
    experienced he is, he want me to trade
    NFP News along with him(want me to lost faster probably LOL) saying that better
    opportunity to win big on news. SO i can withdraw together with profit on Monday LOL, He even want to put Bonus into my account and said : “You will trade with my money(bonus), not your own money.” but never mention Bonus will trap my fund until very big trading lot size.

    However after the harsh 20 minutes conversation
    I still insist my withdrawal, they finally release my fund on NFP day. LOL.

    My 2 cents to those who considering OptionBit,
    They do whatever to hold your money, best case is u lose, then the House can officially
    win your money. Remember these manager are just SALES MAN that earn commissions
    for living, perhaps even a bonus if client lose all fund to the House. If they
    such skillful as they praise themselves in phone, they could probably millionaire
    already and not even give you a fxxx, or
    trading for big institution, Not by calling you wanted to teach you trading,
    holding your money, ask you deposit more money etc. Insist your NO with
    whatever ridiculous reason till the end, Your withdrawal will be safe. As what
    I did.

    Quote from a professional Baccarat player,
    the house(broker) hates you, they are NOT your friends. They treat you as VIP
    just because they hate you. They are not happy to see you win, any single
    dollar that you put on that table, they would say: “Hey! That’s my money!”

  • Adriana Brown

    OptionBit is not good one, really bad experience with them like manipulated data, and price that jump when you enter trade so you lose your money because of that and even if you manage to gain money it is almost impossible to withdraw it so totally agree with this article

  • Anne Cleverley

    A Scam. Do not risk it. They take your money before telling of all the
    tricks they have to make it impossible to withdraw funds. They want so
    many of your details that they could do anything with your card details,
    none of this is mentioned before you pay them. Option bit, just like
    the old Boiler room scamsters.

  • Eric Ng

    yes, optionbit is a scam broker, all of the staff always tell how experienced ther are and how helpful they can help you made alot of momey, all are bullshie don’t trust them, The have manipulated the trading plateform, when you buy at a rate, but the approvel return rate is allways +10 to 20 micro pips higher than what we buy, which not the market rate + 2 micro pips
    so do not joint this scam broker ! ! !

  • Ellen Whale

    Please my fellow traders be very careful the posts and instructions you fellow here online about binary options market, cos a lot is really happening that most traders don’t understand about it. If you care for any help regarding binary options or Forex, account being manipulated by any broker or lost of funds. You can share it with me on [email protected] for a solution.

  • [email protected]

    Sadly I lost thousand to binary options, “500options to be specific”, I tried every legal move possible, no results, I had to hire a hacker to DDoS their servers before they took me seriously and refunded me. If anyone has also fallen victim and would like me to refer you to the guy I used I’ll be happy to as it’s hard to find a real hacker, took me months to find one over the dark web.

    Anyway feel free to send me an email, I’ll gladly refer you to him.