OptionBit is chiefly focused on binary options (digital options) with shares as underlyings, but you can also find currency pairs, indices and commodities as underlyings here.
Two nice features is the ability to close an open position before the binary option expires and the ability to increase the amount of money invested in a binary option you already own.
Regrettably, the minimum deposit is 200 USD and you have to deposit 250 USD to get any welcome bonus. This can be a bit hefty for novice small-scale traders interested in binary options.
OptionBit was launched back in 2009 and has a good reputation online. The company is based in Cyprus and operates with a license from the Cyprus Securities Exchange Commission (CySEC).
OptionBit is available in several languages, including English, French, Italian, German, Swedish, Spanish, Portuguese, Turkish, Rumanian, Russian, Arabian, Japanese, and Korean.
The size of your 1st deposit bonus at OptionBit depends on the size of your first deposit. You have de deposit at least 250 USD to get any 1st deposit bonus.
|Size of 1st deposit||Welcome bonus|
|$250 – $999||30% of first deposit|
|$1,000 – $9,999||50% of first deposit|
|$10,000 – $49,999||75% of first deposit|
|$50,000 or more||Tailor-made welcome bonus. Contact the support before you make your first deposit.|
Bonus for existing clients
You get from 30% to 100% loyalty bonus on each deposit to OptionBit, depending on your account type.
Available account types
One free withdrawal per month.
- You have to make a 1,000 USD deposit to get a Standard Account.
- One free withdrawal per month
- 75% loyalty bonus
- Personal coaching
- Video tutorial
- You have to make a 10,000 USD deposit to get a VIP Account
- Two free withdrawals per month
- 100% loyalty bonus
- Unlimited personal coaching
- Video tutorial
- You have to make a 50,000 USD deposit to get a VIP Account
- Tailor-made perks that are superior to the VIP Account perks
The trading platform comes from popular supplier TradoLogic. TradoLogic delivers trading platforms to many different sites, not just OptionBit. If you have used brokers such as SpotOption, XP Market or EZBinary in the past, you will recognize the basics.
The platform opens in your browser window. There is no downloadable client.
The tab “MyTrade” makes it easy to continuously keep an all your open positions.
Tools for auto trading are included in the platform. You set the parameters and the auto trading is carried out accordingly.
A market analysing tool called Algobit is included in the platform.
OptionBit has mobile trading apps available for both iOS and Android. Download from Apple’s App Store or from Google Play, respectively. Works well on both phones and tablets.
Binary option types
Examples of available binary option types at OptionBit:
- One Touch
Some of the binary options at OptionBit give a very high payout when they expire in the money; sometimes over 500 percent!
The binary options with the shortest lifespan at OptionBit are the super short turbos, available with a lifespan of 60 seconds, 2 minutes or 5 minutes. Most of them have currency pairs as the underlyings.
The classic binary options at OptionBit have a lifespan of at least 30 minutes.
For many binary options sold by OptionBit, you are allowed to close your position prior to the option expiring. Another interesting feature is the ability to increase the amount of money invested in a binary option that you already own. For classic binary options, it is usually possible to increase the investment until no more than 2 minutes are left on the option’s lifespan.
- OptionBit has a nice selection of binary options with shares as the underlying asset. It does of course contain a lot of North American companies, but also companies listed on exchanges in other parts of the world, e.g BMW (ETR: BMW), Danone (EPA: BN), Repsol SA (BME: REP), Orange SA (EPA: ORA), Gazprom PAO (MCX: GAZP), and Honda Motor Co Ltd (TYO: 7267).
- The selection of indices as underlyings is currently comprised of approximately one dozen indices.
- The selection of currency pairs as underlyings is good. It doesn’t just contain the standards, but unusual choices like USD/NOK and USD/SEK as well.
- If you want commodities as underlyings, choice are limited. At the time of writing, only gold, silver, copper and crude oil is offered.
Examples of shares available as underlyings
- COCA COLA
- DEUTSCHE TELEKOM
- EXXON MOBILE
- FRANCE TELECOM
- GENERAL ELECTRIC
- MORGAN STANLEY
Examples of indices available as underlyings
- CAC FUT
- DAX FUT
- FTSE 100 FUT
- NASDAQ FUTURE
- NIKKEI 225
- S&P FUT
- SPI 200 FUTURE
- TOPIX 500
Examples of currency pairs available as underlyings
- Minimum deposit: 200 USD
Examples of available transaction methods: Bank transfer, VISA, MasterCard, Skrill, Neteller
- Withdrawals: One free withdrawal per month for mini accounts and standard accounts. Two free withdrawals per month for VIP accounts. Diamond accounts get tailor-made solutions for withdrawals.