OptionBit Review
The online binary options trading industry is booming now a day but it is still difficult to find a broker which provides everything. OptionBit is amongst the best brokers who provide a complete trading platform which provides multiple binary options, user friendly interface and low minimum positions. All these provide the traders a complete customizable platform which provides the best online trading experience. In the following lines, we will discuss the different features of binary options which will help you decide whether to choose this broker or not.
General Information
Founded in: 2009
Located in: Cyprus
Minimum Deposit Required: $200
Minimum Amount to Trade: $10
Minimum Amount per Option: $3000
Available Languages: English, Spanish, German, French, Turkish, Russian, Arabic, Portuguese, Korean, Italian, Romanian and Chinese
Trading Platform
If you have experience of using other trading platforms, you will quickly realize that it is there are many advanced features in OptionBit which are not found in other brokers in this industry. One attractive feature of OptionBit is that it does not confuse its members with a lot of options at one time. Instead, it helps members focus on one asset that he is trading at that time. Another attractive feature is that the traders can customize their favorites list so that they can easily trade the assets they are most comfortable with.
There is one difference between the other brokers and the OptionBit that other brokers will let you choose the trade’s expiration times yourself whereas with OptionBit, you will have to select one of the predefined times. While some may consider it a restriction but actually this help you professionalize your trades by choosing the specific times.
Moreover, OptionBit is a totally online solution that offers three kinds of trading which are explained clearly in the manuals. The three kinds of trading are:
1. Digital Trading
2. 1 Touch Trading
3. Range Trading
The options are designed to attract the beginner as well as experienced traders. It is advisable for beginners to start with digital trading.
Features
You can find helping material and updates about the market from the market analysts’ team of the OptionBit which is available for the members. You can also get various bonuses which are for both new as well as old members. If you make a deposit of $500 you will receive 20% bonus amount and deposits of more than $500 will result in 40% bonuses.
Trading features of OptionBit include rollover option which can be used to extend expiration time of trade if it is not going as expected. You may also use close now option which can be used when you want to close a trade prior to its predefined expiration time if you are in-the-money but want to end the trade earlier than the expiration time.
Although all the leading trading options brokers claim to give their members highest payouts, OptionBit is actually following its claim by providing up to 180% payouts. Only this reason is enough to give this broker a try.
Customer Support
The customer support team is available via chat, email and call. The online chat help is available 17 hours a day. Call service is locally available in UK, US, Spain and France. You can also email your queries via online form or by sending traditional email.
We ourselves experienced the chat help while writing the review of OptionBit. Our experience was really good. We found that the team is helpful and friendly as compared to other brokers we have reviewed.
Ease of Use
OptionBit offers more helping resources that any of the other trading options broker. These resources include live and updated forum, extensive helping guides, market analysis, trading strategies help and tutorials. However, two missing things are video tutorials and a practice account that can help the users learn about the trading experience of OptionBit before becoming a permanent member. EBook is available but for that you must make a deposit in your account to get access to it.
You can make a deposit using credit/debit card or bank wire transfer. You may also use Western Union for making a deposit but that will require you to use phone. The average time it takes to complete a withdrawal request is very ideal compared to other brokers. It can take minimum 3 days and maximum 5 for withdrawal request to complete.
OptionBit has been really simple and easy to use while we used it for writing our review with excellent customer support which helped us in all the queries.
Conclusion
The binary options trading started two years before and OptionBit is amongst the oldest and leading brokers of the industry. With our research we have found out that the broker constantly tries to keep on improving its features and services time by time. Overall, we found OptionBit a good broker in our review with some suggestions for enhancements. We look forward to see what this broker offers us in future.
