OptionBit Review

Every client that opens a live account with OptionBit benefits from a registration bonus, however how much this bonus is worth will depend on the level of account selected. A VIP account is also on offer which comes with its own benefits and perks. The trading platform is simple to use and innovative thanks to cutting edge technology, and there are several ways to contact their customer service team. There is also a huge selection of assets available to choose from.

Every client that opens a live account with OptionBit benefits from a registration bonus, however how much this bonus is worth will depend on the level of account selected. A VIP account is also on offer which comes with its own benefits and perks. The trading platform is simple to use and innovative thanks to cutting edge technology, and there are several ways to contact their customer service team. There is also a huge selection of assets available to choose from. Intro As one of the industry's leading binary options brokers, OptionBit has extensive experience in the financial markets…

Review Overview

Bonuses - 80%
Software - 90%
Customer Support - 75%
Options Choice - 95%

85%

Good Quality Broker

Summary : Trusted Broker

User Rating: Be the first one !
85

Intro

As one of the industry’s leading binary options brokers, OptionBit has extensive experience in the financial markets and offers advanced technology on their dynamic trading interface together with cutting edge trading tools and a huge selection of underlying assets. This broker is committted to making trading moer accessible to investors at all levels and to that end they have a broad spectrum of educational resources. They also boast an accessible and helpful customer service team.

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Company Information

First launched in 2010, OptionBit is an online brokerage service owned by a company called Global View International Services Ltd. They are incorporated in St Vincent and the Grenadines with their headquarters in Glasgow, Scotland, UK. OptionBit supplies its services to clients worldwide except for those who are based in the USA, taking pride in offering a very secure experience. They do not appear to be licensed or regulated by any recognised authority however.

Assets Available

OptionBit offers around 180 assets for traders to select from.

Their list of assets includes:

Commodities: 10

Currencies: 37

Stocks: 118

Indices: 13

Futures: 7

Bonuses & VIP Programs

Every client that opens an OptionBit live trading account receives a registration bonus which varies depending on the amount of deposit put down. The available bonuses include:

  • Deposit $200 and receive a 30% bonus
  • Deposit $500 and receive a 40% bonus
  • Deposit $1000 and receive a 50% bonus

VIP accounts are offered to traders who have the highest volume of trades. They can receive privileges such as priority access to market analyst appointments, a dedicated telephone number, extra deposit allowances and faster processing of withdrawals.

Mobile

As expected from most binary options brokers, OptionBit has recognised the need for clients to check their assets and to carry out their trades while they are on the go. They are aware that traders do not want to be tied to their laptop or PC and, with the knowledge that downloading and installing memory intensive software slows down transactions by causing problems with computer memory, OptionBit have therefore developed a trading interface which is entirely internet based. This enables trade executions to be carried out more swiftly from anywhere worldwide and at any hour of the night or day using a tablet, iPad or Android smartphone as long as it has a functional internet connection. OptionBit’s website is mobile optimised, however it also has a free mobile application which makes it even easier to trade from a mobile device. It is easy to download this mobile app from the Google Play Store, Apple Store or even from the broker’s website.

Deposits and Withdrawals

OptionBit offers a wide variety of payment methods

  • Credit Card (Visa, MasterCard, American Express, Diners Club)
  • Debit Card (Maestro)
  • Bank wire transfer
  • Skrill
  • Neteller
  • Qiwi
  • Yandex
  • Ukash
  • Webmoney
  • PaySafeCard

There are no fees charged for any deposit to an OptionBit trading account, and the first withdrawal every month is free. All subsequent withdrawals are charged a fee of $30. Withdrawals are rapidly processed with 24 hours of being requested. The trader will receive their funds within 5 to 12 working days for regular account holders and within 3 to 5 working days for VIP members.

Depositing funds into your OptionBit account is easy via the website. The minimum amount which can be deposited is $260 whereas the maximum transaction amount is $5000. Accounts can be opened in 3 different currencies including:

  • US Dollar
  • Euro
  • Pound Sterling

Once you have chosen a base currency you are not permitted to switch to another one at a later date.

Customer Support

There are several methods through which clients can contact the OptionBit customer support centre. These include:

  • Email
  • Request a callback
  • Live Chat
  • Web Form

Customer support services can be contacted 24/7 6 days a week.

The website is available in four languages, English, Russian, Portuguese and Japanese.

Extra Features and Resources

More binary options brokers are starting to offer free educational resources to their clients and OptionBit are also offering traders access to their own resource centre with a host of useful on demand videos aimed at clients with different levels of experience. OptionBit also has a training programme in place which can either take place over the telephone or via live chat for VIP level clients. These 1:1 sessions include five different lessons and offering a good grounding in the basics of trading and investment. OptionBit also offers a glossary as well as an economic calendar which helps to inform trades. When it comes to extra features such as trading tools, OptionBit offers a Close, an Extend and an Autotrade tool for the convenience of investors.

Verdict

OptionBit has quite a lot to offer its potential clients, however it is also important to bear in mind that there are several negative points too.

Pros

  • Cutting edge trading software that is suitable for use by both experienced and novice traders
  • 100% online trading interface requiring no installations or downloads
  • Mobile trading apps for iPhone and Android
  • Choice of customer service contact methods including instant live chat
  • Multilingual website
  • Access to trading tools
  • Free educational resources
  • Excellent 1:1 training programme for VIP members
  • Strong SSL encryption site wide
  • Choice of base account currencies
  • VIP accounts for high volume traders
  • Bonuses offered to all clients on registration
  • Good choice of deposit and withdrawal options including e-Wallets
  • 24/6 customer support centre

Cons

  • Not regulated or licensed by any recognised authority
  • No support available on Sundays
  • Traders from the USA cannot use this broker

FAQ

I am from the USA can I trade with OptionBit?

Unfortunately, at the moment OptionBit cannot allow clients from the USA to use its trading services. However clients from other countries around the globe are accepted.

How do I register with this broker?

OptionBit have made their registration process quick and simple. All clients needs to do is to complete and submit all the relevant personal information on the Sign Up tab of the homepage. In no time, you’ll be ready to deposit your first amount and start trading.

Which currencies can be used as a base account currency with OptionBit?

OptionBit accept accounts opened in one of five different currencies:

  • US Dollars
  • Pounds Sterling
  • Euros

Your base currency is unable to be changed once you have made a final decision.

Is there a registration fee payable to OptionBit?

Clients do not need to pay any registration fee when they open a live trading account with this broker.

Which option types are available through OptionBit?

OptionBit offers five different types of options to choose from:

  • Digital
  • Touch
  • No Touch
  • Range
  • Turbo

Is OptionBit a secure broker?

Although OptionBit is not licensed or regulated, it does make sure that all client financial transactions are secured and well protected from potential hacking threats.Cutting edge 128 bit SSL encryption is used across the entire site to ensure that all personal and financial details are safeguarded.

What are the benefits of trading with OptionBit?

There are many benefits for clients at all levels of experience who are considering trading with OptionBit. This broker offers its potential clients a host of excellent advanced trading tools including the options to close, double up, Autotrade and extend trades. The Tradologic software used on this broker’s website is cutting edge and is innovative to use, even for newcomers to investment, while their customer support team is always available 6 days a week right around the clock. There are plenty of educational resources available which make this a good choice of broker for novices, and for those who are high volume traders on the VIP programme, the 1:1 training sessions represent excellent value. With excellent sign up bonuses on offer to every client too, OptionBit is a great choice for all kinds of investors.

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OptionBit Review
4 (80%) 1 vote