The broker OptionBit has many years of experience in the binary options market. They have already been an established name since 2009, operating from the island of Cyprus, making them one of the oldest binary option brokers. Over the years OptionBit reviews have been positive, which is of course why they have managed to continue their business. With their experience they are able to bring many advantages to the trading table, on a foundation of stability and trustworthiness.
Trading on the platform
The experience of OptionBit is clearly visible on their advanced trading platform, of the type TradoLogic. No downloading or installing of software is necessary to start trading on the platform. As should be expected the platform is multilingual, being available in over 10 languages, among which are Russian, Turkish, Japanese, Spanish and German. The trading platform is mobile friendly as well, making it easy to make trades while on the go. OptionBit also gives new traders the possibility of a demo-account, which allows the trading of fake money as a way of education. All the usual methods of payment are accepted, such as credit card or Skrill Moneybookers, with the exclusion of PayPal.
Exclusive to the OptionBit trading platform is the so called Rollover feature. This feature allows the expiration time of a binary option to be moved both back and forth. This can result in quite tactical trade decisions, once the feature has been mastered.
Just as with other brokers, a trading account needs to be opened by making an initial deposit. OptionBit requires initially a minimum deposit of 200 USD / EUR. Once the account is opened trades can be made with minimum investments of 10 USD / EUR. If a demo account is desired, the initial deposit of 200 USD / EUR must first be made.
OptionBit also gives certain bonuses, namely through their VIP program. When a deposit of 500 USD / EUR is made, the account is entitled to a 20 percent bonus. If even bigger deposits are made the bonus can increase up to 40 percent or higher.
OptionBit uses a fixed percentage of 81 for all of their payouts. This further amplifies the stability of their trading platform, as with other brokers the payout is usually susceptible to a small amount of flux. However, when a binary option is called wrongly, there is zero return on investment, though it should be noted that few brokers give a return when an option is lost.
The payout rate of 81 percent from OptionBit is a little lower than that of other brokers. The bonuses for large deposits are a decent compensator for this. And it should be taken into account that when only small amounts of money are traded, the few percentages difference between OptionBit and other brokers is hardly noticeable. The stability and experience make OptionBit a broker with advantages that is always a good choice, even if the payout is a little less.
List of assets
One of the most important factors for any broker, are the assets they have available for trading on their platform. Luckily for OptionBit, they have a good amount of assets from which their users can choose. These are of course of all subdivided in the well known categories forex, commodities, stocks and indices.
OptionBit als has different types of trading options that can be used. In addition to the classic High / Low options there can also be chosen for One Touch / No Touch and Range / Boundary options. This makes for a varied trading experience on a platform that is both stable and user friendly.
The support OptionBit delivers to its customers has been known to be good. Their helpdesk speaks in a host of different languages, among which are Spanish, Russian and German, and can be contacted all day every day. Other ways of contacting this broker are through Email or Live Chat. The Live Chat is available in different languages as well, for 17 hours each day.
Due to their years of experience, OptionBit has proven to be a stable and reliable broker. Their multilingual platform and customer service is certainly of a high quality. The trading platform they offer is easy to use, with the inclusion of many features. There is a good amount of binary options available for trade and, in addition, OptionBit is the only broker who uses the Rollover feature, which is definitely interesting for more adventurous traders.
OptionBit is undoubtedly a very good broker. There are few flaws to their system. On the other hand, however, there is nothing altogether special that makes this broker really stand out from the rest. Only the amount of years they have operated and the Rollover feature are a defining characteristic of Option Bit. Though of course OptionBit is still a good broker, just that it is alike to many other brokers on the market today.
OptionBit Review Final Verdict
It may by now be clear from this review that the broker OptionBit is definitely a proper choice for traders. Through the years they have been able to develop a reliable and stable trading platform and solidified themselves in the binary options market. They are average or slightly above or below average on all points. Because the platform and customer service is available in multiple languages OptionBit is accessible from anywhere in the world, from both computers and mobile phones. Giving their traders assurance is their greatest strength, which they are confidently able to deliver because of their experiences.
So, what this Option Bit review comes down to is this: whoever is looking for a broker who can offer reliability on a user friendly and feature-rich platform, OptionBit is the one for you.