OptionBit Simplifies Trading on the Financial Markets
Binary options traders looking for an intuitive online trading platform will be pleasantly surprised with OptionBit. This leading options broker was put together by experts in the field of binary options and currency trading. Traders can access an integrated binary options trading platform, replete with a full range of trader services, educational resources and market analysis. This binary options broker is headquartered in Nicosia Cyprus, and regulated by the Cyprus Securities Exchange Commission (CySEC), with license number 224/14. The trading platform is run by Novox Capital Ltd and it features several unique types of binary options. These include digital trading, range trading and touch trading. Further, traders can easily close trades early, or extend trades after they have purchased options. One of the latest innovations at OptionBit is Algobit – a high-tech algorithm which scans financial markets to create signals and identify trends.
The Trading Platform at OptionBit
The OptionBit trading platform is 100% secure, courtesy of SSL technology and advanced encryption protocols. There are several types of trading options at this broker. These include Digital, Turbo, Touch and Range. Traders can access a wide range of assets across 4 categories. Among them are stocks, indices, commodities and currencies. Popular currencies include EUR/GBP, USD/CHF, USD/CAD, and GBP/USD. On the commodities front, traders can easily trade silver, copper, crude oil, gold, sugar, and coffee. Indices include the S&P future, NASDAQ 100 future, DAX future, Bund future, South Africa 40 and the MICEX among others. Stocks are the most populous asset category, and cover European, American and other stocks. Examples include BMW, ROCHE, UBS, Lufthansa, Deutsche Telekom, HSBC, Adidas, SAP, and Allianz. To place a trade, a quick and easy registration is required, followed by a deposit. This binary option trading platform offers payouts between 75% – 91%. The trading platform is ideally suited to novice traders owing to its ease of use. The inclusion of educational resources and advanced trading facilities makes it a good fit for experienced traders too. The didactic learn binary section offers general info on trading as well as a binary options tutorial, otherwise known as OptionBit VOD. Other useful tools available to traders are an economic calendar, advanced charts, eBook, trend analysis and binary options signals.
Customer Support and Banking
Getting in touch with customer support at OptionBit is a breeze. Around-the-clock assistance is available to traders in multiple languages including English, Spanish, Russian, German, Portuguese, French and Japanese. To contact OptionBit representatives, traders can leave a message via online contact form, telephone, online chat or send an e-mail. Customer query turnaround times are fairly rapid, and responses are detailed and professional. In terms of banking facilities, traders have access to the following payment methods: POLi, Qiwi, Yandex, Webmoney, Skrill, MasterCard, Visa, CashU, PaySafeCard, and Neteller. The minimum amount that you can deposit into your account is $200 and the maximum deposit is $5,000. When you’re ready to withdraw your winnings, you are permitted a single free withdrawal per month, followed by a $30 withdrawal fee on subsequent transactions. All withdrawal requests require additional documentation to validate identity. Mobile Trading and Bonus Offers The OptionBit mobile trading app allows you to take your trades with you wherever you go. It’s possible to manage your account on your iPhone, iPad or Android smartphone/tablet. All it takes to get started is a quick and easy download of the mobile trading app. Other benefits available on the mobile platform include 24/7 support, zero fees/commissions, multiple account management tools, unfettered access to financial markets (currencies, commodities, indices and stocks). To get started, traders simply need to scan the QR code – for iOS or Android smartphones/tablets.
Other Benefits Available at OptionBit
Information on bonuses is readily available under the promotions tab. The bonus is dependent on the size of the deposit. When you make the minimum deposit amount – $200, you qualify for a 30% bonus. $500 qualifies for a 40% bonus and $1,000 qualifies for a 50% bonus. There are other benefits available to you including a demo trading account available on your first day of trading, full CySEC regulation, and a wide range of tradable assets. Overall, this is a solid binary options broker, and ideally suited to novice traders.
OptionBit is considered to be one of the leaders in the binary options trading industry. With a platform that’s said to be designed for beginners and experts alike, as well as an authority brand in the industry, the company is definitely one of the most popular brokers in the market today. However, popular doesn’t always equate to best. So today, we’ll take a look at several factors associated with quality binary options brokers to see how well OptionBit stacks up.
The first thing I noticed about the OptionBit trading platform is that it seemed like it would be fun to use. I’m not sure if it was the vibrant colors or unique layout that gave me that feeling, but overall I was incredibly impressed by the design. Beyond design factors, I found that the platform is incredibly easy to navigate and use. Using this platform, you can trade by 4 different types of options contracts: digital, range, touch and turbo. Also, keeping the goal of appealing to beginners and experts alike in mind, I think OptionBit hit the nail on the head with their platform. While the platform is based in simplicity, making it easy for beginners to understand, it also includes all of the tools and features that expert binary options traders have come to expect from a quality broker. All in all, I was incredibly impressed with the trading platform they offered.
Deposits & Withdrawals
- Minimum Deposit – Minimum deposits are the primary hindrance when it comes to beginners getting started. At $200, OptionBit’s minimum deposit isn’t the highest I’ve seen, but it’s not the lowest either. Nonetheless, it’s comes in below the industry average of $250. The maximum deposit is $5000.
- Deposit & Withdrawal Options – When it comes to deposit and withdrawal options, OptionBit offers one of the largest arrays of options in the industry. Traders can use credit cards, Qiwi, Yandex, WebMoney, PaySafeCard, Neteller, and Skrill to deposit and withdrawal funds. While deposits are always free, withdrawals will come with a fee. The first withdrawal of the month is free no matter what method you choose. However, subsequent withdrawals will come with a $30 withdrawal fee. It’s also important to mention that withdrawals are processed relatively quickly; something I like to see from binary options brokers.
Customer Support And Education
When choosing a binary options broker, two of the most important factors you should look into are customer support and education. Here’s how OptionBit stacks up in these areas.
- Customer Support – One of the first things I noticed was that support is available 24 hours a day, 7 days a week; that’s hard to come by in the world of finance. Customers can contact OptionBit via phone, email or live chat. Customer service teams are available 24 hours a day and 6 days a week. When speaking with a representative through their live chat, I found that the team receives quality training and is incredibly knowledgeable with regard to binary options trading. All in all, I was impressed with the customer support I received.
- Educational Resources – Unfortunately, I was far less than impressed when it came to education. As a matter of fact, I wasn’t able to find an education center at all. While I was able to find a blog, I think that OptionBit really dropped the ball by not providing educational materials for beginner traders.
The two unique features I found at OptionBit were definitely useful when it comes to risk management and the ability to maximize returns. They include the “extend” feature and the “close now” feature. With the extend feature, traders have the ability to extend their expiry period when the value of the asset is taking longer than expected to reach the strike price. With the close now feature, traders can close a trade in the money before the expiry period ends; giving them the peace of mind in knowing that the option won’t fall out of the money before they have the opportunity to cash in.
Overall, I liked what I saw from OptionBit. However, I would not advise that beginners use this platform. The reality is that beginners should only trade with brokers that offer strong educational resources that are designed to turn the beginner trader into a pro. Unfortunately, OptionBit doesn’t offer such resources. On the other hand, I found that the platform is incredibly compelling and offers all of the tools and resources experts would need in order to be successful.