Blog: OptionBit Gets Two Thumbs Up

BinaryOptionsNow | Published on June 19, 2011 at 1:43 pm

AnyOption review

Hey, My name is Mo Shakeel. Are you new to binary options trading? So am I. Read my blog entries which detail my experiences investing with the leading online binary option brokers.

OptionBit.com is the next binary option broker that I decided to check out. Optionbit has a very professional looking website that clearly offers some of the highest deposit bonuses available in binary options trading today.

The OptionBit trading platform is web-based (powered by Tradologic) so  you don’t need to download any software onto your PC to start trading.

Their market data is provided by Thomson Reuters. The website is also available in 10+ different languages.

Registration

Getting into your binary option trading account is very simple and it takes less than 1 minute to signup.

First Deposit Bonus
You can earn a 25%-50% bonus on first deposit between $500-$5000 which is very attractive for new and veteran traders alike.

Deposits
OptionBit offers 4 payment options to make deposit that includes credit cards (Visa/Mastercard), Western Union, online wallets and wire transfers. I used credit card to make my deposit and it was  immediately credited to my OptionBit account balance. OptionBit did not request that I provide any verification documents which made my trading smooth and hassle-free.

The minimum deposit for credit cards is 100$, so I assume it is 100$ for all payment options.

Binary Option Trading Types
OptionBit offers 3 kinds of binary options including Digital, Touch and Range options. Only a few of the option brokers offer 3 types of binary option styles so OptionBit is a good place to go if you’re looking to diversify your trading.

Assets
OptionBit does not offer wide range of trading assets but they have a strong selection nonetheless including 10 currency pairs, 3 indices, 7 stocks, and 2 commodities.

Returns
Optionbit offers 81% returns for forex options and 75% return for other assets. OptionBit does offer any guaranteed if your investment is not successful so choose your options wisely.

Trading Platform
As mentioned earlier, OptionBit runs on Tradologic’s trading platform. Assets, charts, prices and execution buttons are well presented inside each trading account. With just one click, a trader can change asset and the price chart is instantly updated with the new asset.

Options expire every 30 minutes. All open trades can be viewed without having to click away from the trading area which is also a plus. You don’t need to be worried about how your open trades are performing, everything is shown with buy rate, current rate, profit/loss, etc.

You can also see the traders’ insight on top forex options on the right side which is also great tool to keep updated on the market conditions without clicking anywhere.

Transactions
The minimum trade with OptionBit is a low $10, which is another plus. That means that anybody depositing $100 can be assured at least 10 trades at the worst (although you have to be pretty bad/unlucky to lose 10 trades straight). My first trade was for $20 on an Up/Down (called “Digital” at OptionBit) Google option and I got back $15 (75%) on a correct prediction. My 2nd trade was for $20 on a digital USD/JPY option and I got back $16.20$ (81%).

Withdrawals
After trading for a few hours, I requested a withdrawal on June 8th and my withdrawal was processed by Optionbit on the 13th. So, Optionbit took 2 business days to process withdrawal and within 3 business days funds were in my credit card account which is a pretty good turn around time in my book.

Extras
There is another great analytic tool section called “Past Expires” that is used to review rates of previously expired options. You can check the rate of any asset for last 30 days. So, if you want to perform in-depth analysis of any asset, you can get rates without visiting any other website. There is also learning section including a binary option guide, tutorials and e-course.

Customer Support
OptionBit has excellent support for new customers. I received phone call almost immediately after registration and I was offered a large first deposit bonus. It was a nice surprise to be contacted so quickly.

They also have Live Chat support which proved very helpful. I was also contacted by Mr. Alexa Maximov just to keep in touch and to ask about my opinion about Optionbit.

Conclusion
Overall I was very pleased with my experience at OptionBit.

Here are the things I liked:
-Minimum deposit is $100
-Minimum transaction amount is $10
-Professional looking and easy-to-use trading platform
-Great customer support, I was contacted by phone and tickets were replied on time

Here is what could be improved:
-More payment options
-More assets

Click here to visit OptionBit.com now!

 

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