A Review of Optionbit

Posted by OliverPearson 0

optionbit

OptionBit is a certified broker providing its service since 2010. Its managing company is  NovoxCapitalLtd being under the jurisdiction of CySEC (the Cyprus Securities and Exchange Commission).

The “certified broker” means safe partnership guaranteed by the prestigious license.

The Cyprus Stock Exchange is regulated by MiFID (Markets in Financial Instruments Directive) being in force in the EU.

One of the pros of the Directive is that a trader’s investment is insured against a broker’s bankruptcy. This works like a deposit insurance fund. Besides, if a broker regulated by MiFID fails to fulfill its liabilities, it has to pay high penalties.

In 2012, FX Empire, the leading source of financial news, awarded OptionBit in the “Broker with the Best Reputation” category.

The Terms and Conditions of Investment

To trade with OptionBit, you need a starting capital in the amount of $200. Minimum investment  is $10, that is, 5% per cent of a minimum deposit. Even if you start with this small amount, you can use capital management.  An option returns on average an 80% profit.  Losses are not refunded. However, you can change settings to get a 20% refund of your investment in case of a losing trade and a lower return.

Along with currency pairs, you can choose an index, commodity, or stock as an underlying security. However, you can’t try them on a demo account.

Money withdrawal generally takes 3 days.

Trading signals are sent by Algobit, the unique trading system described in detail below.

The Platform

Optionbit offers all newbies to try Tradologic, the software being quite popular in this segment. The key advantage of the app is that you don’t need to install any additional software on the hard disk drive. The broker provides charts like linear and Japanese candlesticks.  There are no other charts and zooming as well. As the functionality is user-friendly, a demo account typically provided by all brokers is not available here.

To open a trade, you need to take some simple steps, namely, choose an option type, select an underlying asset, price direction, amount of investment, and expiration. Then, you need to wait until the option expires and check the result of a trade.

The list of underlying securities offered by the broker is impressive. Dealing with this broker, you can trade shares like:

asset

Types of Options

Digital

This is a classic digital option. What a trader has to do is to figure out the price direction at the moment of expiration. This easy to trade binary option is a good choice for all newbies.

OneTouch

This type of a binary option is more difficult to trade; therefore, it suits well the investors having some experience in binary options trading. The advantage of this option is higher return. An investor buying this binary option has to pinpoint whether the price will touch one of the levels set by the broker before expiration.

Turbo

These are short-term contracts expiring in 1 to 2 minutes or 5 minutes maximum. Their basic principle is similar to the Digital options. A trader has to figure out the direction that the price of an underlying asset will take at the moment of expiration.

Range

A trader has to pinpoint a price range in which the price of an underlying asset will be. This type of binary options is rather risky and yields the same profit as classic options.

A Guide to Sign Up

A sign up  procedure  is standard and really easy taking 5 minutes maximum.  Once a trader has completed the personal data form, he can top up his account.  Next time the trader signs in to his account, he has to type the login and password provided by the broker’s administrator.

After the trader has put in $200 in his account, he is entitled to trade. Money withdrawal becomes available as soon as profit is accumulated, and the trader passes verification. This is a standard requirement of all binary options brokers.  Money withdrawal generally takes up to 3 days depending on the system.  A trader can choose virtually any method to withdraw money.

1

Learning

To start learning, you just need to click on “Help in trading”. The first thing you should learn is our glossary. It contains an ocean of valuable information. This terminology is useful even to experienced traders. Any trader will definitely find something worthwhile here.

Video tutorials and training classified into three units can be of special interest. The first group will be useful to newbies. This unit covers such issues as start of trading, advantages of binary options, global trading systems etc.

Besides, in this unit newbies can find gripping videocasts covering emotions, chance and risk accompanying binary options business. In general, the introduction to the world of binary options is rather strong; therefore, these tutorials can become a solid base that a trader can rely on in binary options trading.

Once the elementary unit has been completed, a trader can proceed to the section for advanced users. An investor can find some strategies and the rules of safe profitable trading there. Mastering this part can help a trader take the first confident steps to a decent profit. Pay your special attention to 10:30 and 5:15 rules.

In the third unit, if a trader proceeds, he can learn market analysis and effective ways of trading.  If the trader has experience in trading following the trend, using support and resistance levels, to master this unit is much easier. He can find many cases covered in detail. Besides, there are a lot of video tutorials describing candlestick analysis in binary options trading.

2

Algobit Trading Signals

Algobit, the unique software product, has been specially developed by Optionbit to make binary options more profitable and easier. The point of the trading system is to send signals and sufficient information  based on which a trader may open or close a trade.

Algobit enables an investor not to start the major platform to trade binary options.  Besides, this system allows an investor both to get signals and trade manually based on his analysis.

According to the broker, the system is highly sensitive to new trends and reversals. Therefore, Algobit makes finding points of entry and exit and volatile markets much easier for a trader.

However, comments about system show that the signals are often false. Thus, a trader has to perform analysis, look for data to check these trading signals like any other forecasts.

Optionbit Support

As any other large broker,  Obtionbit provides 24/7 support.  Any user can get prompt professional answers regarding the broker or binary options trading. A trader can get in touch with helpdesk by e-mail, online chat, or toll free number.

3

Conclusion

Optionbit is a binary options broker having a long history on the market. Dealing with this company, a trader can open a Euro, U.S. dollar or UK  pound sterling account. Minimum deposit is $200.

The broker gives a wide choice of underlying assets including shares of the top European, U.S. and Asian companies. Besides, firm provides 24/7 support ready to answer any question at any moment.

As of today, Optionbit is a leading broker on the binary options market.  A great number of positive reviews show that the company deserves trust. Also, it should be noted that Obtionbit  is one of the world’s top ten binary options brokers.

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