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OptionBit Review

OptionBit
30% to 75% Welcome Bonus plus Up to 100% Loyalty Bonus
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Overview

Introduction OptionBit is one of the latest brokers to enter the binary options market. The brand name OptionBit is operated by Novox Capital Ltd, an investment firm based in Cyprus. […]

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Full Review Details

Broker OptionBit
Website URL NEW https://www.optionbit.com/
Founded 2014
Headquarters 60 Regaena Street, 3rd Floor, Nicosia 1010, Cyprus
Support Number +44 20 31500934
Support Types Telephone, Contact Form, Live Chat
Languages English, French, German, Italian, Japanese, Russian, Spanish, Arabic, Portuguese, Swedish
Trading Platform SpotOption
Minimum 1st Deposit $200
Minimum Account Size $250
Maximum Trade Amount $5,000
Bonus 30% to 75% Welcome Bonus plus Up to 100% Loyalty Bonus
Payout Up to 80%
Free Demo Account No
Regulated Yes
Regulation Regulated by CySEC
Account Types Mini Account, Standard Account, VIP Account
Deposit Methods Credit/Debit Card, Wire Transfer, Neteller, Skrill, Qiwi, Webmoney, PaySafeCard, Yandex
Withdrawal Methods Credit/Debit Card, Wire Transfer, Neteller, Skrill, Qiwi
Number of Assets 100+
Expiry Times 30s, 45s, 60s, 90s, 120s, 5m, 30m, 1h, 2h, 4h, 8h, 12h, End of Day, Weekly
Types of Assets Currencies, Stocks, Commodities, Indices
Option Types Digital Options, One Touch, Range, Turbo
Account Currency GBP, USD, EUR
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes
Overall Score 87

Screenshots

Screenshot 1 Screenshot 2

Pros

  • Mobile Trading
  • Regulated Broker
  • Multiple Languages

Cons

  • Few Option Types

Full Review

Introduction

OptionBit is one of the latest brokers to enter the binary options market. The brand name OptionBit is operated by Novox Capital Ltd, an investment firm based in Cyprus.

OptionBit began operations in 2014 and is licensed and regulated by Cyprus Exchange Commission under license number 224/14. The company’s headquarters are located at 60 Regaena Street, 3rd Floor, Nicosia 1010, Cyprus.

Account Types and Promotions

OptionBit offers its traders a selection of three premium account types which are typically determined by deposit amount. Every account type also come bundled with a list of interesting benefits and promotional offers.

  • Mini Account: For this account type, traders must deposit a minimum of $250. Upon funding their accounts, traders receive up to 30% in welcome bonus plus an equivalent amount in loyalty bonus. Other benefits for this account type include a free eBook, basic video lessons, trading alerts once a day-daily market review, one free monthly withdrawal, 1-on-1 trading session, a personal account manager (account assistant), advanced charts and webinars.
  • Standard: This account type requires a minimum deposit of $1,000. The account comes loaded with up to 50% in welcome bonus plus up to 75% loyalty bonus. Traders also get a full package of video lessons, daily market review twice a day, up to 5 1-on-1 trading sessions, a personal account manager (general purpose services), plus the other benefits received by Mini account holders.
  • VIP: Traders looking to capitalize on a full bouquet of benefits must open the VIP account which requires a minimum deposit of $10,000. It comes bundled with up to 75% welcome bonus and up to 100% loyalty bonus. Other exclusive benefits include two free monthly withdrawals, unlimited access to 1-on-1 trading sessions, and a personal account manager (market expert) plus the rest of the benefits received by Standard account holders.

Trade Types

At OptionBit, traders can trade binary option via four different option types, which cover all types of traders from beginner to sophisticated traders.

  • Digital: This is the traditional high/low or call/put option with payouts of up to 80% and requires traders to predict whether the price of the underlying asset will increase or decrease by the time the option expires.
  • One Touch: This option type features payouts ranging from 260% to 550%. Here, traders predict whether the price of the underlying asset will touch a predetermined level at least once within the next trading session (normally a week).
  • Range: With Range Options, traders predict whether or not the price of the underlying asset will remain range-bound within two predetermined price levels for a given trading period.
  • Turbo: This is the type of option binary options traders looking to turn profits by the minute would choose at OptionBit. Its expiry periods range from 30 seconds to 5 minutes.

Asset Index

Most binary options brokers allow traders to trade various currencies, stocks, commodities and indices on their trading platforms. OptionBit is no different and has selected some of the most popular and liquid assets from around the world for its traders.

  • Currencies: AUD/USD, EUR/GBP, EUR/JPY, EUR/USD, GBP/JPY, GBP/USD, NZD/USD, USD/CAD, USD/CHF, USD/JPY, USD/NOK, USD/SEK, USD/RUB
  • Stocks: Allianz, Amazon, Apple, Baidu, Bayer, BMW, Boeing, BP, Chevron, Citigroup, Coca Cola, Danone, Deutsche Telekom, Disney, eBay, Exxon Mobil, Facebook, France Telecom, Gazprom, General Electric, Google, Honda, HSBC Holdings, Intel, Konami, McDonald’s, Microsoft, Mitsubishi, Morgan Stanley, Nike, Renault, Repsol, Siemens, Sony, Telefonica, Total, Toyota, Vivendi, Vodafone
  • Indices: AEX-25, BEL-20, BOVESPA, CAC Futures, DAX Futures, FTSE 100 Futures, NASDAQ, NASDAQ Futures, Nikkei 225, S&P Futures, SPI 200 Future, TOPIX 500
  • Commodities: Copper, Crude Oil, Gold, Silver

Trading Tools

Competition in the binary options market has forced the hand for many brokers to include several trading tools and resources to their trading platforms as part of the benefits received upon signing up for a trading account.

OptionBit has several tools available to all traders but some are available depending on the account type as discussed earlier.

Generally, traders have access to several video tutorials and live webinars as well as 1-on-1 trading sessions. The broker has also developed an eBook which traders can download free at no charge along with various trading courses for both beginners and advanced traders.

On the go trading is well supported by the iOS and Android apps, which traders can download and install in their mobile devices.

Deposits and Withdrawals

Traders at OptionBit can deposit money to their trading account via Webmoney, PaySafeCard, Yandex, Qiwi, Skrill, Neteller,  and Credit/Debit card.

OptionBit is one of the few brokers that allow traders to use third party credit cards as long as the owner provides an authorized letter.

The minimum deposit is $200, while the maximum investment amount per trade is $5,000. No fees on all deposits.

Traders can withdraw money via bank wire, credit/debit card (only amount equal to the one deposited using this method-the rest is sent directly to your bank account), Neteller, Skrill, and Qiwi.

Traders get one free monthly withdrawal, but the VIP account holders get two. Any subsequent withdrawals within the same month attract $30 fee.

Traders must verify their identities and physical address when making their first withdrawal. All non-cash bonuses are non-redeemable and can only be used for trading. Their profits can however be withdrawn.

For withdrawal of cash bonuses, traders are required to meet a minimum trading volume of 15-20x the value of the bonus.

Support

OptionBit Traders can contact support via Telephone, Contact Form and Live Chat.

Live Support: Live Chat

Contact Form: Available on Contact us page

Telephone: +44 20 31500934 plus several others for various satellite offices.

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© Copyright

RISK WARNING: The past or recent trading performance of any stock, security, commodity or derivative is not necessarily indicative of future profits/losses. We do not and can not guarantee that use of our Services will generate you profits. We do not and can not take responsibility for any losses to your accounts. You must trade and take sole responsibility to evaluate all information provided by this website and use it at your own risk. All trading information we provide is intended as trade assistance only.

Risk warning: Trading in financial instruments carries a high level of risk to your capital with the possibility of losing more than your initial investment. Trading in financial instruments may not be suitable for all investors, and is only intended for people over 18. Please ensure that you are fully aware of the risks involved and, if necessary, seek independent financial advice. You should also read our learning materials and risk warnings.

Disclaimer of liability: The website owner shall not be responsible for and disclaims all liability for any loss, liability, damage (whether direct, indirect or consequential), personal injury or expense of any nature whatsoever which may be suffered by you or any third party (including your company), as a result of or which may be attributable, directly or indirectly, to your access and use of the website, any information contained on the website