OptionBit | Binary Options Brokers

OptionBit Review

OptionBit
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Overview

OptionBit has lately been facing a lot of demand, which made us come up with a detailed review of the same that will help us guide our members in the…

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Details

Broker OptionBit
Website URL http://www.optionbit.com
Founded 2011
Headquarters 4 Michael Georgalla Str., Engomi, Nicosia 2904, Cyprus
Support Number +44 20 31500934
Support Types Live Chat , Phone , Message Form , Call-Back
Languages English , French , German , Italian , Japanese , Russian , Spanish , Arabic , Portuguese , Swedish
Trading Platform Tradologic
Minimum 1st Deposit $200
Minimum Trade Amount $10
Maximum Trade Amount $500
Bonus 30% Welcome Bonus
Payout 88%
Free Demo Account Yes
Regulated Yes
Regulation Cyprus Securities Commission (CySec)
Account Types Mini , Standard , VIP
Deposit Methods VISA , MasterCard , Maestro , Skrill Moneybookers , Ukash , Diners Club , NETELLER , American Express , NETELLER Bitcoin , Paysafecard
Withdrawal Methods VISA , MasterCard , Maestro , Skrill Moneybookers , Ukash , Diners Club , NETELLER , American Express , NETELLER Bitcoin
Trading Methods Browser , Mobile
Number of Assets 90
Expiry Times 60 Sec , 2 Min , 5 Min , 15 Min , 30 Min , End of Day , End of Month
Types of Assets Currencies , Commodities , Indices , Stocks
Option Types Digital , Turbo , One Touch , Touch/No Touch , Range
Trading Currency USD , EUR , GBP , RUB , YEN , AUD , CAD , ZAR , BRL
Account Currency USD , EUR , GBP , RUB , YEN , AUD , CAD , ZAR , BRL
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes
Overall Score 1

Screenshots

Screenshot 1 Screenshot 2

Pros

  • CySEC Regulated Broker
  • Industry Awards
  • Algobit Smart Trading Signals
  • Rich # of Language & Currency Alternatives
  • Free Training Videos

Cons

  • No US Traders Allowed

Full Review

OptionBit has lately been facing a lot of demand, which made us come up with a detailed review of the same that will help us guide our members in the right direction. Safety and quickness, you are sure to experience these two plus points when you start using the OptionBit trading platform. You also do not have to wait much before receiving your money as OptionBit offers one of the quickest withdrawal services out there compared to the rest of the brokers. Read the review in its entirety below to know more. Please kindly be informed that OptionBit does not welcome traders from the US.

OptionBit Special Features

We have reviewed many brokers but this particular broker is the only one out there that automatically transfers the bonus to you. Once you make your first deposit, you automatically receive a bonus of 30%. Moreover, the turnover requirements which are to be met before you withdraw these funds are also pretty easy to meet compared to the rest of the brokers. The turnover requirement herewith was the only 15x bonus, which is definitely an amount you are not going to have much trouble reaching.

However, you may want to know that if for any reason you do not wish to receive these bonuses, say wager requirements and such, it is going to be your responsibility to use the live chat tool and contact the support team before you begin your trading. We have experienced through our OptionBit review that in case you happen to ask the customer support team to delete your bonus after turning a profit, OptionBit will be removing all the winnings you may have made.

OptionBit YouTube Video Review

OptionBit Trading Software and Assets

The trading platform offered by OptionBit makes life easier for traders as it’s smooth and simple and is never going to fail you. This trading platform is powered by Tradologic and offers you a wide range of binary options to choose from for your trading moves, which is something we unearthed in our OptionBit review.

Options include range options, one touch, and high/low to touch or call/put. Besides, you can also choose from between 60 seconds, 2 minutes and 5 minutes options. Besides, we were offered certain learning tools to get to know the concept of binary trading online and we have to say it was really helpful and is a complete gem for newcomers.

Overall, the software we used was pretty easy and simple, but not as professional compared to the platforms provided by other brokers. Either way, what should make you go for this is the fact that there are literally no flaws in this platform and you are sure to get along with it right from the very first day of your trading.

OptionBit Support and Services

We got immediate responses from the customer support team of OptionBit whenever we used the e-mail and live chat. All the answers were professional and detailed and the response was always quick.

It was a bit annoying for us when we received our bonus when we did not ask for it in the first place, and when we requested for its removal, all our profit was lost. But then again, it was our fault that we missed reading this, as it is mentioned clearly in the terms and conditions. If we wished to save our profits and receive the bonuses as well, we should have kept up with our trading to meet the easy little turnover requirement.

Lara and Sandra were two representatives we found really helpful in our OptionBit review.

If you wish to have a demo account, you can simply ask your account manager for the same. Once you sign up, he or she is going to stay in touch with you. This was yet another great experience for us in our OptionBit review.

OptionBit Banking and Company

All your deposits are processed instantly, and the method of depositing is really quick and easy in itself. It really does not matter which method you go for, be it Moneybookers or simply a credit card. However, bank wire is a bit slower and the deposits would take at least a couple days to be processed.

The minimum withdrawal amount with OptionBit is $30 and you also receive one free cash out every month, which was a really pleasant thing to see. Apart from that, every withdrawal costs $30. However, we recommend you to avoid depositing and withdrawing frequently. It obviously would be more beneficial if you make rare but large withdraws and deposits instead of doing it every day.

We also wish to bring it to your attention that in case you go inactive on your account for over 90 days, your account gets put in a ‘dormant’ state. You will be charged $5 every single inactive month once that happens until your entire balance gets emptied. This feature was one of the rare few which we did not like in our OptionBit review, apart from which, this broker is worth a shot.

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Paul Graber

I was born in Manchester in 1967. I am an Economist with a Ph.D. degree. I have been working in the financial trading industry as a professional since 2003. I am a fan of Manchester United team. I am married and have a little princess.

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