OptionBit can be considered one of the well-established brokers for binary options on the market. After all, the platform has been online since 2010 and the website provider has collected diverse experiences, enabling the broker to continuously adjust its range of products.
We from AlphaOption are certain that Optionbit is a serious broker with a user-friendly software that can be accessed without additional downloads. A mobile version is available also. AlphaOption has taken a closer look at this broker with the following characteristics:
The broker Optionbit has been in business for four years now and has received good ratings from many traders and testers. OptionBit’s conditions have been targeted to support traders
, for example with special security functions. There is no repayment in the event of loss, but the Close-Option grants the trader the possibility to sell the option prior to maturity to secure profits or to minimize losses. Other advantages are the user-friendly trading platform
and maturities that vary from 60 seconds to one month. For tax reasons the broker is registered and located in Cyprus which assures regulation through the local CySEC that follows the European MiFID-rules.
Binary option trading platform TradoLogic
OptionBit uses the binary options trading platform TradoLogic that is one of the leading softwares in the area of binary options, offering numerous functions. Everything is web-based and does not require additional downloads. Traders may access several charts at a time, analyze rates in detail, and display all open and closed positions. OptionBit also offers its traders the automated trading system Algobit, a TradoLogic tool. The platform is arranged in a simple design without confusing elements that makes mobile trading easy and enables newcomers to quickly adjust. Of course, the Optionbit website is available in different languages.
Assets and option types on OptionBit
Optionbit has 30 assest to offer which is not much compared to the norm, but this may be just enough for some options traders. We from AlphaOption
have made the experience that a large number of tradable assets makes a broker interesting, but still, most traders hold only few Underlyings, sometimes over years. OptionBit’s products include each five commodities and indexes as well as ten stocks and forex values. The numbers may fluctuate and are an approximate overview only, but surely OptionBit will extend its offers. The option types are the classical Call and Put Options with which the traders bet on rising or falling courses. Touch-Options for speculating on touching a price limit, Range-Options for the closing position of a base value to be in the defined range, and Turbo-Options are other products in OptionBit’s program. The option maturities vary from 60 seconds to five minutes, an alternative that has become quite popular amongst traders.
Trading returns and loss coverage on OptionBit
The returns on classical Call / Put Options
of all brokers for binary options range around 81 percent normally, but a refund in the event of loss, as mentioned above, does not take place. Instead, traders use the Close-Now-Function and thus close the option prior to maturity with a payback slightly smaller or higher than the initial payment, depending on the current rate of the base value. With this tool OptionBit imitates the classical Stop-Loss-Management: There is neither a total profit nor a total loss, but traders gain high flexibility. Next to the Close-Now-Function OptionBit provides an opposite feature, the Roll-Over, that allows traders to prolong the runtime of an option. In terms of High Yields
– the returns on risky One-Touch-Options – the broker falls somewhat behind its competitors, as not more than 181 percent are paid back. Some other brokers offer returns o up to 500 percent
Accounts, Banking, and OptionBit demo version
Optionbit provides a demo account and customers don’t have to open a real Optionbit account to use the demonstration feature. The usage of the demo account is not limited in time which is valued by many traders. We would like to mention again that demo trade and real trade may differ severely. Who wants to learn trading has to risk real money at some point in order to experience the real pleasure of winning and the pain losing. The minimum amount for transactions is 10 Euro, and the minimum capitalization must amount to 200 Euro which is common practice on the market. Capitalizations may be made via Live-Account, credit card, bank transfer, and all modern methods like Skrill, Paysafe card, and WesternUnion. The maximum limit for deposits is 5,000 Euro or US Dollars. While deposits are free of charge at all times, withdrawals are only free during the first month; after that a fee of 10 US Dollars is demanded. withdrawals can only be made by credit card, bank transfer, and Skrill.
Service and concluding opinion on OptionBit
Customer services can be contacted by telephone, email, and live-chat of which AlphaOption had a good and competent impression. The service is available at any time and also provides information about bonuses that can reach up to 50 percent. In conclusion, OptionBit offers a good overall package.
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