If you are a broker and is looking for a new platform for trading then OptionBit just might be the platform for you. If you are a trader in Binary Options then you might want to consider OptionBit because it has the largest amount of tools used for binary option trading and they also use one of the most popular tools used, the above/below option in binary trading.
Launched in May of 2010, OptionBit is like every other binary trading platform and is 100% web based; therefore, it does not require you to download any software. You have the choice of trading on anyone, or more if you so desire, of 37 underlying assets anywhere in the USA, Europe, and Asia.
While OptionBit has a very competitive rate on return on in-the-money and offers a return anywhere between 65 to 81%, the downside to this platform is that it does not offer any return when you are out-of-the-money and due to the fact that they are aware that English speakers are not the only persons who trade, you are able to view the site in a number of different languages, such as: Spanish, German, Russian, and Turkish.
With OptionBit, as a trader, your funds are held in a different account and are protected by Godaddy SSL. OptionBit also trades on the trading platform provider TradoLogic and they offer you three types of trades: regular above/below binary options, touch trading and range. Touch trading is where, as a trader, you must predict whether, or not an asset will reach or touch the strike price before the expiration date and range trading is where you have to determine if an asset will expire within a set range.
OptionBit does not provide brokers with any information on the company and their only known information is that they are based and operates out of Cyprus. With OptionBit you are provided with a number of great features such as:
OptionBit Gives you the ability to trade on anyone of three binary options
You get up to 65 to 81% on your return on options that ends in-the-money
You can trade in five different languages
A My Trades box that shows open trades
An Extend and Close Now feature, that allows you to do what the name states, extend or close your trading options now.
They are very user friendly and provide ease when navigating around the site. You are also able to register on the site for free and have the option of watching a free demo that teaches how to get the best use out of the site.
You are also provided with a very useful glossary that is really good if you are relatively new to the trading game because it explains various binary trading jargons, getting you up to par with everything binary trading. However, if you are a person that is bored easily, you will be quickly turnoff by the binary trading tutorial because it is long and it is not the most pleasant thing to read and because of this, you just might have difficulty reading and understanding.
Other than the boringness of the tutorial, the rest of the site is quite user friendly as stated before and viewing open trades is as simple as clicking on a question mark on the homepage. Based on the fact that OptionBit is 100% web based and there is no software updates needed, you are able to do your trading from any computer around the world, simple and easy, just like that and with OptionBit you can purchase an option of up to $5000, a very competitive price in the trading arena.
With OptionBit you are able to trade on a number of underlying assets such as
5 Commodities
14 Currency pairs or Forex as it is more popularly known
12 stocks and 6 indices
Giving you 37 underlying assets, as was mentioned before for trading.
They do not specify the time you should set for your expiry range; however, you have the option of choosing anywhere from a few minutes to the end of the hour. While offering the normal features that every other online binary option trading platform offers.
The three types of options that were mentioned above. The touch trading, the range option, and the regular Above/Below binary option.
The extend or close now option
With OptionBit, buyers are not expected to pay any fees or commissions when they buy a binary option. You are able to place your options for free and it does not limit the amount you can place; however, it is not known if they charge you to withdraw money from your account.
With OptionBit, you get a 30% bonus on your first deposit of $500.
It is kind of limited how you can add funds to your OptionBit account. You can use bank wire transfer, credit card, or a more recent option, PayPal; however, you can only make your payments in US dollars.
Finally with OptionBit you have a number of options as to how you can contact their customer care. You can either request for them to respond to you via email, call back, and live chat. Therefore, if you are looking for a trading option, then try OptionBit because they have a great platform for brokers.
We thank you for reading our OptionBit review, from out findings we can confirm that optionbit is not a scam and it a very well established binary option trading platform. If you wish to share your own OptionBit review or OptionBit scam story then please post your comments below for everyone to share.
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