OptionBit Review

OptionBit Review

Author
  • Website
  • Trading Platforms
  • Support

OptionBit is Novox Capital Ltd.’s premier option trading platform that provides investors and traders the ability to trade stocks, currency pairs, commodities and indices on the exotic options market. OptionBit is headquartered in Nicosia, Cyprus. No regulation was listed on the website.
Although the website is intuitive and easily navigated, I found it somewhat sparse. There was little information about the company on the ‘about us’ page and not much on payment or withdrawal options.
A trader can choose among three accounts, Mini, Standard and VIP. The Mini account requires a deposit of $250 and the Standard $1,000. The VIP account, with a minimum deposit of $10,000, gives a trader top priority when scheduling an appointment with a market analyst and he is provided with a VIP number that he can use to call during trading hours. There is also a Diamond account which requires $50,000 to start.

Platforms

There are several trading platforms to choose from at OptionBit.
Digital- With digital trading, you determine whether the price of an asset will move above or below (higher or lower) a predetermined strike price by the time of expiration. You can use the Close Now tool which enables you to buy an option before the time of expiration or the Extend tool which is OptionBit’s unique roll over feature that enables traders to extend the expiration date of an option so that you can be sure that your option will be in-the-money.
60 Second trading is almost identical to Digital trading with the one exception: all options close after 60 seconds. This form of trading is often most popular with traders looking to capitalize on short term market trends.
OptionBit also offers Touch, One Touch and Range platforms which feature different trading options. The mobile version of OptionBit can be downloaded so trades can be made anywhere, anytime.

Features

OptionBit recently introduced Algobit, an analytic tool that will constantly search the portfolio of volatile markets and will alert you of any newly forming trends.
OptionBit has a wide selection of free training videos for both beginner and advanced option traders.  They offer bonuses as educational allowances as follows:
Invest $200 – receive 30% bonus
Invest $500 – receive 40% bonus
Invest $1,000 – receive 50% bonus

Customer support is responsive and informative. Chat is available around the clock in 14 different languages and email support is also offered. I was very impressed with their economic calendar which lists the daily, weekly and monthly events in a precise and useful manner.

Conclusion

OptionBit is a binary options broker whose user-friendly platform, multiple trading options and low minimum position make trading an enjoyable experience.