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.
Min. Deposit: $200 Demo: No
Platform: TradoLogic Bonus: No
Regulation: CySEC US Clients: YesSign up with OptionBit Now
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.
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:
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 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.
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:
Your task is to identify whether the price of an asset will either increase or decrease prior to predefined expiry time.
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.
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.
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 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 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.