Broker ceased to exist

On-line since: 2010
Country of origin: Saint Vincent and the Grenadines
Regulation: -
Payment options: bank transfer, Visa/Mastercard bank cards, Skrill, Neteller, Webmoney, Qiwi
Minimum account size: $250
Minimum lot size: -
Leverage: -
Spreads: -

About company:

OptionBit provides services of binary options trading through a user-friendly trading platform which comprises the latest trading tools and a wide range of assets.

Security of funds

Clients of OptionBit can trade currency pairs, indices, stocks and futures. OptionBit belongs to Global View Ltd incorporated in Saint Vincent and the Grenadines. The website does not contain any legal information. However, the broker’s priority is to ensure safety with the help of encryption systems and security procedures.

Trading conditions

The broker offers several account types: Digital, Turbo, Touch, and Range.

The available trading instruments are currency pairs, shares, indices, commodities, and futures.

The expiry term can be 30 seconds, 45 seconds, 60 seconds, 2 minutes, 5 minutes, and 24 hours. Besides, there are longer-term options which can expire in up to 3 months.

This broker does not offer the Ladder and Pairs option types.

Minimum deposit and deal size

The minimum deposit at OptionBit is $250. This is the average amount in the brokerage industry. At the same time, the minimum trade size is $10 while other dealers make it possible to trade binary options with $1, enabling traders to manage risks.

Trading accounts

Clients of OptionBit can choose one of the several account types depending on what sum they can invest: Mini, Standard or VIP.

Profitability

The payout at OptionBit varies from 60% to 80% depending on the option type and its term. The broker enables its clients to choose the percentage of profits and promises to recoup 20% of a losing trade.

Trading platform

OptionBit provides the Tradologic platform for trading while other brokers prefer the SpotOption platform. Tradologic features some useful functions which are not available on the other platform. The interface is comprehensible and easy-to-use. Traders can monitor charts of various types, including linear or candlestick ones.

Some useful functions of the OptionBit platform enable investors to extend or close a deal before it expires.

Clients of OptionBit can close losing options at a certain price. Thus, they can reduce their losses. A winning option can also be closed before it expires.

Furthermore, traders can extend the term of an option at a certain charge.

OptionBit is one of the first options broker to introduce the AlgoBit software that scans markets and defines trends at the early stages, sending signals about it to traders. Traders, in their turn, just need to set the time for initiating a trade.

Education

OptionBit pays special attention to education. The website contains some video tutorials which can be useful to both beginners and experienced

traders. Apart from video tutorials, clients have access to the glossary and the economic calendar.

Bonus for deposit

Clients of OptionBit can get a bonus of 30% up to 70% for an initial deposit. The bonus size depends on the account type.

Payment methods

Speaking about payments methods, clients of OptionBit can replenish their accounts through bank wire transfers, banks cards, as well as electronic payment systems such as Skrill, Neteller, WebMoney, and Qiwi.

Clients can withdraw their funds to bank accounts mainly. One withdrawal per month is free of charge.

Client support service

Support managers of OptionBit can speak 9 languages. They can be contacted through email, phone or a live chat.

The broker’s advantages:

• Demo accounts;
• Up to 20% of losses are recouped;
• Signals are available.

The broker’s disadvantages:

• Not regulated;
• Poor choice of trading assets;
• Average minimum size of deals.