OptionBit Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker is in this OptionBit Review.
OptionBit Review
OptionBit is a Cypriot Binary options broker, offering trading in wide range of assets on one of the best binaries platform, Tradologic.
This is one of the brokers, clearly placing a focus on training. OptionBit has posted a number of educational videos on its website, offering courses to both beginners and advanced traders.
Trading Accounts
Clients of OptionBit may choose from several account types, depending on how much money they are willing to invest upon sign-up: Mini, Standard & VIP.
Account type Min. initial deposit Welcome bonus 1 on 1 trading lessons
Mini $200 Up to 30% –
Standard $1 000 Up to 50% Up to 5
VIP $10 000 Up to 75% Unlimited
OptionBit is a binary options broker offering online trading in currency pairs, indices, commodities, and stocks. OptionBit is a trading name of Novox Capital Ltd., authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC).
The Cypriot financial watchdog applies a set of rules and requirements to license holders in order to provide a certain level of security in forex and binaries trading.
Like UK-based brokerages, regulated companies in Cyprus must hold a minimum of €730 000 in order to prove their good financial standing. Moreover, all licensed brokers are members of the Investor Compensation Fund, which may cover tour investment loss to a maximum of 20,000 EUR per person in the event that the broker becomes insolvent. Such compensation schemes serve as an additional guarantee to clients’ funds.
Furthermore, as CySEC is part of the European MiFID regulations, and the companies regulated by the Cypriot financial watchdog are free to operate in all EU Member States.
Trading Conditions
Trading Options: Call/Put, Turbo (Short-term), Touch, Range
Assets: Currencies, Stocks, Indices, Commodities
Expiry Times: 30 sec, 45 sec, 60 sec, 2min, 5 min, 24h, 24 hr+, End of Day, and long-term options with expiration times going out as far as 3 month.
This broker does not offer Pairs & Ladder options for trade.
Minimum Initial Deposit
The minimum initial deposit for clients of OptionBit is $200, which is average. In comparison, Banc de Binary requires 250 EUR from traders to open an account.
Payout amount
Depending on the Trading Options and expiry times, payout percentage offered by OptionBit ranges from 60% to 80%. Returns on the EUR/USD Call/Put options amount to up to 80%, while Turbo options (with expiry times from 30s to 5m) provide 76% payout.
In fact, OptionBit allows traders to choose their Profit and Return percentage and to get refund on losing trades of up to 20%. For instance, is a trader choses a 80% payout and the option expires out of the money, he/she will the entire investment; but if the selected payout is 60%, the return in case of out of the money trade will be 20%.
In comparison, AnyOption provides its clients with payout from 61% to 81%, and refund on losing trades of up to 25%.
Trading Platform
OptionBit’s trading system operates on the latest technology from Tradologic. This binaries trading platform delivers a variety of added-value widgets, such as Trader Segment Analysis, User Notification and various useful Indicators.
Some useful features provided by OptionBit`s trading platform are the Extend and Close Now options, which allow investors to extend or close a trade before the expiry time.
The ‘close’ tool enables you to close a losing option for a certain fee. And thus avoid losing your entire investment. The close tool also enables you to close a winning trade and secure the profit.
The extend feature enables you to prolong an open option until the next expiry time, when you see that your prediction will take longer to realize. Extending your trade come with a minimal fee as well.
What is more, OptionBit is one of the first binary options broker to offer Binary Options Signals by creating an algorithm software called AlgoBit.
On-Deposit Bonus
Welcome bonus from 30% to 70% of the initial deposit is available to clients of OptionBit, which
are redeemable, provided the required volume has been traded.
Methods of Payment
OptionBit’ clients are provided with a variety of payment methods: Credit/Debit cards, Bank Wire and e-payment systems such as Skrill, Neteller, WebMoney, Yandex, Qiwi, POLi.
OptionBit is a trustworthy and licensed EU binaries broker, offering a variety of assets and trading options on the Tradologic platform under reasonable conditions.
Instead of the forex broker you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.
OptionBit Review Conclusion
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