OptionBit

  • Full compliance with stricter CySEC regulatory oversight;
  • Nearly seventy asset choices are offered
  • Payouts range from 70% to 81%

 

Broker Info

Company Name:

OptionBit

Website: OptionBit.com
Country: Cyprus
Year established: 2010
Broker Services: Binary Options
Assets offered: 65+
Min deposit: $200
Payout: up to 81%
Funding methods:
  • Deposits can be conveniently made via wire transfers, credit and debit cards, MoneyBookers (Skrill), Click And Buy, Webmoney, and a host of other local payment methods;
Platform Info
Trading platform: TradoLogic
Mobile trading: Yes
Web based: Yes

OptionBit Review

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History and Background

Experience matters. The binary option market endured a crisis in Cyprus in 2013, which was not of their making, but, as a result, many local brokers had to close their doors or be bought out. OptionBit.com is the exception to that rule. They not only survived the crisis, but they complied with the stricter regulations that were promulgated by CySEC. The team at OptionBit is very experienced, having joined the binary option industry at its beginning after opening their doors for business in 2010. If you want a reliable broker that has fashioned a reputation for quality service, innovation, and for keeping things simple and straightforward over the years, then OptionBit may be your broker of choice. Unfortunately, U.S. clients are not accepted at this time.

As an innovator, OptionBit was one of the first brokers to expand beyond the traditional Call/Put and One-Touch options by offering range-type varieties and quick-paced turbo options, as well. From a feature perspective, their election to go with Tech Financial’s “Tradologic” platform allowed them to introduce Close, Extend, and an even neater twist on the Rollover feature that permits you to automate the Rollover process. The system alerts you of a trend and sets up a repeat function to take advantage of the market action real time. In addition to these helpful trading tools, they also developed an in-house free alert system, called “AlgoBit” that uses software algorithms to spot high-potential patterns in market activity. You do not have to waste endless hours staring at your screen with these alerts.

OptionBit offers sixty-nine of today’s most popular asset choices in forex, stocks, commodities, and indices, with payoff ratios averaging closer to their upper limit of 81% that you will find is not the case with most other brokers. Support and training materials are also in abundance, and the global nature of the firm is apparent since the website can be easily converted to nearly a dozen different languages. Depositing funds is easy with OptionBit, and your first withdrawal each month is free. There is also the added security of segregation of client deposits, required by CySEC regulations, along with additional protection from the Cyprus government’s Investor Protection Program. Simplicity and flexibility are the hallmarks of this firm, and longevity is another attribute that can only be won over time through quality service and a loyal customer base. As we said, experience does matter.

Features

The distinguishing features listed by OptionBit.com on their website are as follows:

  • OptionBit was founded in 2009 and has gained a reputation for being a leader and industry innovator over the next five years;
  • Full compliance with stricter CySEC regulatory oversight;
  • Client deposits segregated from operating capital for safety;
  • Nearly seventy asset choices are offered, based on global popularity over time, (Currency Pairs = 13; Commodities = 4; Indices = 13; Equities = 39);
  • Payouts range from 70% to 81%, with averages leaning toward the top end;
  • Broad selection of option choices from classic high/low, one-touch, touch/no-touch, range, and turbo varieties;
  • Auto-trader allows a trader to roll over profits when a trend is anticipated, based on terms defined by the trader;
  • Flexibility is enhanced with Close, Extend, Auto-trader (Their form of Rollover), and AlgoBit, a unique systems of alerts that recognizes high potential situations;
  • Popular “TradoLogic” binary option trading platform offers ease of use, flexibility, and intuitive use of familiar screen formats;
  • Promotions and welcome bonus programs abound – check the website for details;
  • Customer service is available 24X7 in seven languages – website in 11 languages;
  • Training and support materials are extensive, including 21 Videos on Demand and more, for all levels of trading ability;

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Accounts

  • Standard accounts include welcome bonuses from 30% to 50%, depending on deposit amount, while VIP account status receives additional benefits;
  • Minimum Deposit = $200;
  • U.S. clients are not accepted.

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Transactions

  • Deposits can be conveniently made via wire transfers, credit and debit cards, MoneyBookers (Skrill), Click And Buy, Webmoney, and a host of other local payment methods;
  • Withdrawal requests are handled promptly, as long as the internationally mandated identity information is on file;
  • Your first withdrawal for the month is free, with a small charge for additional ones during the month (Banking intermediaries may collect a fee on their own behalf).

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Platform

OptionBit has chosen to support Tech Financial’s web-based “TradoLogic” binary option-trading platform, which has grown very popular over the years for its intuitive screens and ease of use. No complex downloads are required. Mobile applications are also available. If you can access the Internet with a device, then you can trade with OptionBit.

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Information

For beginners and veterans alike, a broad-based library of video tutorials awaits you in the firm’s learning center. The OptionBit training program starts with the basics of binary options, reviews how to trade and take advantage of the features supported by the trading platform, and ends with advanced trading strategies. There is something for everyone here, much more so than with other brokers. AlgoBit, their free alert system, is also worth checking out. It helps guide you to opportunities, but it is not meant to be a guarantee of success. Developing your expertise through education is the first objective.

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Support

Customer Service representatives are experienced and professionally trained. You may access them via live chat, email, and direct phone lines on a 24X7 basis and in at least seven languages. The website can be converted into nearly a dozen languages.

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Safety

Client deposits are segregated for safety from operating capital and further protected up to 20,000 Euros by the local Investor Compensation Program. All trading session and personal identity information are encrypted with the latest 128-bit SSL technology to provide peace of mind and protection from compromise by outsiders.

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Conclusion

OptionBit is a veteran in the burgeoning field of binary options, and their experience shows in every facet of their offering. They have earned their stripes and a reputation for being a leader and innovator in this highly competitive industry. Payoffs average on the high side, and support tools and training materials are top tier. The package becomes complete when you also add in the new and more stringent regulatory oversight from CySEC that provides peace of mind from client deposit protection and tougher performance guidelines for effective execution of orders. OptionBit has it all, and, together with their loyal customer base, they have set the bar higher for competitors.

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