Optionbit

Optionbit

Score: 7.9
Bonus Amount: up to 100%
Min First Deposit: $200
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Broker Details

Name Optionbit
Founded 2010
Headquarters Location Cyprus
Website Languages English, French, Dutch, Spanish, Italian, Portuguese, Russian, Swedish
Trading Platform Tradologic
Minimum 1st Deposit $200
Minimum Trade Amount $10
Bonus 50% First deposit match bonus.
Options Profitability 81%
VIP Account No
Regulation Info CySec
License Info CysSec
Security and Privacy Offered Yes
Free Demo Account Yes
Deposit Methods Visa, Mastercard, Bank transfer, Skrill, Neteller
Trading Methods 60 Seconds, One touch (Touch/No touch), Range
Types of Assets Currencies, Commodities, Stocks, Indices
Number of Assets 100±
Expiry Times 30 sec, , 60 sec , 2min , 5 min , 15/30/60 min , week , month
Account Currency USD, EUR, GBP
US Traders Allowed USA
Mobile Trading No
Tablet Trading No
Free Assistance Yes

Home Page screen shot

Screenshot 1

Trade page screen shot

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Pros

  • Good support
  • One of the first brokers online
  • Maximum trade $5000

Cons

  • Free eBook in English only
  • Welcome bonus is 50%
  • Does not accept alternative payment methods
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Review

Optionbit was launched in 2010 from their Cyprus headquarters they offer support in 7 different languages while utilizing the Tradologic binary optiosn trading system. Optionbit likes their customers to trade in large volumes and offer no rebate on losing trades.

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Background:

Optionbit was launched in 2010 with a web-based Tradologic trading platform. They are operating from Cyprus and offer trading and support in 7 different languages via chat, phone and email.

The platform:

Since option bit is powered by Tradologic it offers the four most popular trading methods currently available:

  • 60 seconds
  • One touch (Touch/No touch)
  • Range
  • Up/Down (High/Low)

They have 63 different assets in 4 different categories: Indices, Stocks, Currencies and commodities.
Their trading platform is easy to use and very intuitive as expected from Tradologic.
The maximum payout is 81% which does not considered an industry best and they do not offer a rebate option for losing trades – out of the money options.

Their minimum accepted first deposit is $200 and the lowest possible trade size is $10 (maximum size is $5000)
Option bit get their quotes feed from Thomson Reuters which is considered highly reliable and an industry standard.

Pay attention to:

  • Very high maximum trade size set to $5000 enables “heavier” traders to take advantage of the Optionbit platform.
  • No rebate / refund offered for losing trades.
  • Extend trade or Close now features are a great tool to capture trade momentum as well as an Autotrade option.
  • Minimum trade size is $10 and the first deposit lowest amount accepted is $200

Conclusion:

Optionbit will most likely appeal to more experienced traders that know what they are after and do it in high volumes. New traders can trade with Optionbit as well but will most likely stick to lower trade sizes at first and won’t take advantage of the high maximum trade size allowed.
Further more, the automatic trading tool and the no rebate are more suited for experienced traders rather than first timers.

Optionbit Online binary broker review by INVESThing.net staff.
Optionbit.com
Date Published: 12/15/2012
We have reviewed Optionbit.com according to several different criteria. You can read the review for free or compare Optionbit to other binary options brokers.
7.9 / 10 stars

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