OptionBit Overview

  • OptionBit
  • Bonus: up to 75
  • Options Profability : 65-85%
  • Rating: 7.7 / 10


Broker Name: OptionBit
Platform: Tradologic
Founded: 2010
Bonus: up to 75
Return/Refund: 70-85%/0-10%
OptionBit Overview


No. Of Assests : 70
Regulated : CySec
Demo Account : Yes
Minimum Deposit : 200
US Traders : Not Accepted
Read Users Reviews


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Review Last Updated 2015-08-23 09:26:09

Editor’s Note – Why does OptionBit Suck in 50 Words

My main problem with OptionBit is that unfortunately, for several weeks, all my attempts of reading their “Terms & Conditions” has been in vain. No matter which browser I chose, I could not open the T & C. Their support said they were working on the problem and that it would be solved within 24 hours. Still, weeks later, I cannot access the T & C. A silly attempt of avoiding to show them to new customers or just an issue with the website, who knows? Whatever it is, it’s no first time it happened to me with OptionBit. Update August 2015: Finally their terms and Conditions page can be easily accessed. If you are having trouble with it, let us know because it could mean it has something to do with local settings.

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Why OptionBit doesn’t Suck

OptionBit trading platform, based on the modern technology of TradoLogic, is the best part about OptionBit. I like the simplicity of that platform, and that they are regulated. They recently added the Trader Insight tool to the platform and they improved the overall design of the website. They also have an Advanced Chart feature, powered by Netdania. From the looks of it, they are still trying to improve by offering VIP accounts and the Algobit. They did fix the T&C problem but took them an “eternity” to do so, therefore there is not much more to say than that they are an average broker.


OptionBit Full Review – Long Timer

Launched on May 2010, OptionBit “Premier Binary Options Trading Platform” offers user-friendly and mildly organized platform. The website is owned and operated by Novox Capital Ltd., registration number HE29218 and registered address at 60, Regaena Street, 3rd Floor, 1010 Nicosia, Cyprus. The company is regulated by the Cyprus Securities and Exchange Commission (CySEC) since 04/02/2014, under license number 224/14. The company registration number is 292182. Like most new Binary Options Brokers platforms, OptionBit platform is 100% web based (available on 10 different languages) and does not require any software to be downloaded. OptionBit trades on TradoLogic, and is protected by Godaddy SSL. OptionBit trading platform is based on the most advanced Binary Options trading systems in the industry, equipped with many efficient tools such as Range, Touch and Digital trade or other In-Trade tools like Close Now and Extend options. You can see multiple charts by clicking on the “Multi” button in the upper right corner of the chart.


OptionBit offers a variety of VIP accounts each with different services and perks. The best perk here is the 2 free withdrawals per month but the deposit amount of 10 000$ is way too high. There are other brokers that offer completely free withdrawals with much smaller deposits and even higher returns!

Not long ago, OptionBit introduced Algobit which is a software that enables you to trade manually or you can let the Algobit follow the signals it produces. I am not a big fan of robots and softwares as they usually just blow the account. Whether Algobit is any good remains to be seen.

You can trade Binary Options, Short Term, One Touch and Range on the platform and the asset’s index is pretty good, offering 69 assets. Instead of offering a refund on expired options you get to prolong your expiry by using the ‘Extend’ tool or close your position before it expires by using the ‘Close’ tool. The AutoTrade is a new feature that makes it easier for you to execute continuous trades in a trending market. This feature uses the winning Martingale system which is actually a good thing since it will only invest the winning sum each time it reopens a new trade. The trades will stop if a trade results in a loss.

Choosing a Binary Options Broker is not easy at all. Much research has to be done and every potential trader has to do his own Cons and Pros list to draw a certain conclusion. OptionBit still has its disadvantages. My final conclusion is that OptionBit should really decide to what direction are they going, and work hard to get there.


Is OptionBit Scam?

OptionBit is probably not a scam but if you ask me I would look elsewhere. I wouldn’t like depositing with a broker that after almost a month still has not managed to put a simple file containing their Terms & Conditions on their website. Of course this could be an issue with their website that they are indeed trying to fix and their support was kind enough to e-mail me their T & C. Still, I think such a major issue should be taken care of immediately. Luckily, OptionBit is regulated so if there is anything fishy about them you can always complain to CySEC.


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OptionBit Complaints

OptionBit is probably not a scam but if you ask me I would look elsewhere. Now their Terms and Conditions are accessible but I don’t understand why the page wasn’t working before and for such a long time. Luckily, OptionBit is regulated so if there is anything fishy about them you can always complain to CySEC. To go directly to the CySEC complaint’s page, follow this link.

Apparently, it seems they can and will close your account if they don’t like your trading. Binary options brokers don’t really like traders who win and recently there have been a few complaints about this matter in our Comments section below. We are not sure what is considered abusive trading by OptionBit and what are the exact conditions that can get your account closed.


OptionBit Bonus

In the Promotions section, OptionBit informs us that the bonus is 30% for a $250 investment, 50% for an investment of $1000 and 75% if you deposit $10 000, while the wager is 20 times the deposit. In the FAQ section they inform the trader that the minimum deposit is of $200, a fact which clearly contradicts the “Promotions” section which clearly says it is $250. Too lazy to update their facts or are they unable to view their own terms and conditions themselves?


OptionBit Withdrawal

Here at Bots.com we care about withdrawal, even more then we care about depositing. At OptionBit, the maximum withdrawal for C.C cannot exceed the initial deposit amount (there’s a limit), same as many other brokers. OptionBit claims that a withdrawal should only take 7 business days if all of the required documents are sent and verified. Every account gets one free withdrawal per month. VIP (10K+) gets two free withdrawals per month. Any other withdrawals cost $30.


OptionBit Extras

One thing we liked about OptionBit is the one day 500$ virtual cash account. Unfortunately, one day is just not enough…An extra feature is the recently added Advanced Chart which we find very useful.


OptionBit Ratings

User Friendly 16/20

OptionBit website offers 100% based Tradologic trading platform. The platform isn’t the most user friendly trading experience but nevertheless, the site is nicely organized, clean and switching between asset categories is easy, especially since the recent improvements they did. Another downside is the OptionBit trading tutorial which is unattractive and not easy at all to read. Site is available in 10 languages.


No. of Assets and Expiry time 16/20

Total of 69 assets: 13 currency pairs, 4 commodities, 13 Indices and 39 Stocks available to trade is an average-to-high basket of assets in the Binary Options industry. Overall 69 assets, short term and half hour to a few hours’ expiry times is just enough to be considered a variety broker. OptionBit currently offers weekend trading, which makes the overall expiry time a little longer.


Commissions, Support and Effective return 14/20

The OptionBit Effective return adds up to 80%, which is between average to high compared to other Binary Options Brokers, but they do not offer any refund in case of Out-Of-Money. The OptionBit support is available via 4 international numbers in the US, UK, France and Spain, by email, call back request (international and multi-lingual) and the live chat which is extremely effective and answered within very few minutes.


Although they are quick to answer, the live chat is only available from 8:00 AM to 6:00 PM Monday to Friday. Also, at the moment of writing this review, they still haven’t solved the T & C issue as they promised. I never got to read it and if you can’t read it either, you should find another broker because knowing what you are signing up on is very important!!


Deposit, Payment and Bonus 14/20

Depositing is only available via credit cars or wire transfer or skrill. The minimum deposit is average compared to Binary Options Brokers- 200$ and the minimum trade amount is 10-20$$. OptionBit Bonus adds up to 500$ from the very first deposit, and the investor can purchase options for as much as 5000$ per option which is very competitive in the industry. Payment is available by credit cards. The bonus is up to 75%.


Website Extra’s 14/20

A good extra feature is the Extend and Close now options, which allows investors to extend or close a trade before the expiry time. OptionBit demo is available and enables amateurs to trade with virtual cash before they make real trades, however, it’s only available after the initial deposit. The best extra feature, added after the website update is the Advanced Chart feature which allows you to actually conduct technical analysis. Their newest feature is the AutoTrader and the Algobit software. With Algobit you can trade either manually by following signals that it generates or simply letting the software itself trade for you.


OptionBit Overall Score  74 + Regualted (+3) = 77/100

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42 Responses to “OptionBit”

  1. Scammed trader Says:

    Be very careful with this platform. The data is manipulated and the price offered will jump when you enter a trade. Getting money out also slow tedious and short changed.

    • warren Says:

      I have had an account for a year or more, didn’t make any money, some bad weeks in the stock market I had just thought making a deposit. Well it’s not possible they are always increasing deposit and no having making a deposit once doen’t make a difference. It has gone from $100 to $200 to $500 to now $1000. Get real don’t waste your time with this one.

  2. Scammed By OptionBit Says:

    Please be careful about Optionbit. Everything else seems rosy and well done on their platform as you get started not until they start manipulating your strike values. After trading for two weeks and increasing my balance from $800 invested to over $2000.00 suddenly I started loosing trades. Altogether I lost over $800.00 in a few hours. A closer investigation as to why my strategies were failing, I discovered that OptionBit had targeted my account and started manupulating my strke values. For example, their strike price for a CALL option was way above the current graph level making it extremely difficult to win any trade using any reasonable strategy. This was really heart breaking for me after having worked so hard and for many hours to build my balance with hopes of a cool wothdrawal. Bewarned, repeated follow-ups with support were met with slothful responses. I believe everyone in that outfit knows what is going on. They want you to loose and keep loosing. Yet they want you to keep funding your account. They are no different from pirates…reaping other peoples sweat. It’s a shame. This is broad daylight robbery. I would really stay away from Optionbit. Am loosing heart about binary trading. TOO many scams its hard to know who is real. Thanks Frank for this website it makes a difference. Wish i had found it sooner.

  3. Han from Holland Says:

    Think they are scam, read the story above. He is right, they manupulate the entry course for a trade. Made a fake account to check those entries and then you got a complete other entryprice, that’s suspicious, so absolute a scam.

  4. StratocasterMan Says:

    Initially, I was happy with them except for the noted items in the review I completely agree with. I myself have not paid that much attention to the strike and closing prices that much but started to feel something may be a bit crooked feeling today actually.

    Thanks for the HEADS UP guys! I appreciate it. Now I will see if I can get my money out! This is very disheartening because I felt like they could have gone places.

    Successful Trading To You All!

  5. Jimmy Says:

    Another rip-off to avoid is VIP BINARY. Same format and they call you all the time trying to get you to invest 1000. I lost 1500 dollars from these places. I dont think I will seek this way of making money again!!

  6. Susan Baldwin Says:

    Hi.I have questions regarding OptionBit. As a (total) beginner, it seems simpler. But what are the implications of it not being regulated? And did I understand your description of withdrawing money to mean that with a $100 deposit, I could only withdraw any profits in $100 increments, with a $30 fee for each withdrawal after the first one per month? Thanks!

  7. Joanne Says:

    Have been trading with Optionbit for 4 weeks now, I am a total newbie. I consider myself to be a patient person, I was doing well made a profit of 500 pounds so decided to request a withdraw,thats when things changed, it became difficult for me to trade without making every trade a loss. Thought I would chat to someone about this asking about why there was such a big difference with rates/prices, operator answered my questions with questions i.e well what to you think is the problem or why don’t you tell me whats wrong. I feel this person either did not understand me or was being just down right horrible. I explained in detail what was happening but operator was not very nice, I logged off and am hoping I get my money back, as a newbie it was not a nice experience I will be looking elsewhere for another broker. PS Did not lose any money just found it impossible to trade anymore without every trade being a loss.

    • Lionel Says:

      I registered with different binary brokers, just to see which platform was better. I found Optionbit to be very easy and clear. (It was Sunday). They day after, my Account Manager called me to I guess walk me trough the process. His name was Nick B. This dude is pushy and arrogant. I did not like him at all. Optionbit was going to be my first choice because of their platform, but thanks to him, and now these comments, Optionbit is definitely out of the question. I still like their platform tho. Any other brokers with an equal platform like Optionbit?

  8. Matt Says:

    Was anyone able to withdraw their profits from Optionbit? They definitely are a big scam. When I started making a decent profit, they started altering my strike values. I created a different account just to check and it was fine. Strike values were normal. I talked with support and they said that they have informed the Technical Services Team and asked me to wait, but I know this wont be solved. I made a withdrawal of all my profits. I hope it comes soon. So was anyone able to withdraw their profits successfully? I’m a little worried that they will never give me the money.

    • MikeOscar Says:

      Have you been paid to date? The withdrawals, did they go through?

  9. jose Says:

    I started with Optiobit with 100 euros, after reached 200 I started to loose. I spoke to my account manager and he told me to invest 400 euros more and he would teach me then. When I got 220 euros in my account I started to loose, several times for these spreads that most brokers do. I couldnt explain how I was loosing my trades with the price of the currencies being as I predicted before. Please beginner do not start with OptionBit. Do not make the same mistake as me.

  10. waqas Says:

    i researched hours and hours,burnt my oil,finally i come up with the conclusion donot spend your money.take a chill pill.Big frauds

  11. Tenovee Says:

    BO Capital and OptionBit are the same total Scam, Con Artist!!

    They refused withdrawal of my profit and my initial deposit too!! I blamed myself for not doing enough research, It is sicking I tell you; ones you deposit your money into their account you will never get it back!!!



  13. vernetta Says:

    I made two successful trades on optionbit, but I only received $7.50 return on my $10 investment, and on my $25 investment I only made $18.75 on this investment.
    I’m going to cash out of this scam program, and look for an ethical business site. Thanks binaryoptionsthatsuck.com for the review on this company. I wish I had seen this earlier before I deposited my money, and they wouldn’t take a $100 deposit, even though they said they would.

  14. Mike Says:

    XPMarkets is another scam. They wait until your account balance approaches 200% of your initial deposit and start adding 20pip spreads to your entry strike prices, putting you initially 0.0002 out-of-the-money on all your trades.

    Their Terms and Conditions also make it so that you cannot recover your initial deposit without reaching 10x that amount in your account.

    I filed a credit card dispute to recover my deposit, but I will never be able to recover my profits, and neither will you.

    Stay away from XPMarkets, and beware of brokers on the Tradologic platform – that seems to be what all these brokers have in common.

    Spread the word!

  15. faisal Says:

    brother plz tell me im going to invest in binary is it scam brother

  16. Mirosaty Says:

    Hello, I am a beginner. I want to know something about optionbit. My questions are: What is an Optionbit? Why does optionbit provide us a lot of money? How does Optionbit make money for us? How much I can earn from Optionbit if I deposit only $100? How can I withdraw money from Optionbit? Can I become a loser? Please tell all the questions above. Thanks

  17. fanis Says:

    I was going to put 500 euros in option bit until I read your comments and I do not know what to do, there’s some companies that are safe to play binary options and what is this

  18. Dawid Says:

    I havent´t earned soo much with Optionbit but I turned 110 euro in 245 euro and got my Money. All People here write, that Optionbit is scam but I got all my Money back to my Bank Account and now I am in 24option.com Broker.

  19. jerry Says:

    I have an account with OptionBit and on two separate occassions witnessed that I was in the money at the expiration and even indicated by their system the profit, but the profit was never credited to my account. When I checked the my trades column it indicated the trade as a lost. I emailed OptionBit Support and requested and explanation and credit of the profit but never received a reply from them. I am very disappointed in OptionBit and will find another broker.

  20. fert Says:

    That’s enough for me. I was almost ready to make my first deposit with OptioBit but now I cancel my decision.
    The question is: is there a good Binary Option Trader?

  21. vagner Says:

    Eu posso dizer que me escapei deste fraudador option bit, ao ler estes comentários que
    valeram muitos dias de suor.
    obrigado a todos…

  22. Steve Says:

    Lots of grief but after I eventually traded the limit required by the bonus that I didn’t get (very long story but don’t go for the bonus) I was able to withdraw the 200% profit (on my deposit) that I’d made – not without jumping lots of hurdles though. Platform is good and when the assets are available, I have no problems with execution. What really gets me is assets not being available to trade when I want to. I have a very high probability way of making good profit, a few days of the month, only to find I can’t trade what I want to when I log in. Support tell me the market is too volatile when the market is really going sideways in a tight range. I’ve also seen spreads on range-trades vary between one account and another – why should that be???? I don’t trust them at all but, at least for the time-being (and after about 14 months of having an account with them), will continue trading with reservations, when they allow me to … I’m only trading their money now, so have nothing to lose but my time. I’ve certainly had no problems with winning trades not being paid out, if when the win was only by a pip, so all credit to them for that.

  23. sho Says:

    Thanks guys. Your reviews helped me a lot. I nearly stepped into the black hole. However, never open an account with topoption either. Even though they say that they are regulated, they are nothing but bunch of scams. My first 10 trades were successful with them making over hundred in 60sec trades. I’m an experience broker therefore I’ve got many spread betting accounts.so while I was trading with topoption, at the same time logged into my etx capital account to check if they provide me with real time price. For first 10 trades it was all fine.no hide n seek. So I have won 10 out of 10. Then suddenly I see two different pricing. My etx capital account shows one price and their platform shows another.which was frustrating so I stopped trading and withdrawn all my money back. After that incident I was looking for a different broker so landed here. After many researches on YouTube and Google. Thanks to you guys. You guys have saved me. Really appreciate that

  24. ivan Says:

    it sucks to redraw your money after 50 emails i got nothing my money is gone

  25. Tony Says:

    That totally happened to me a number of times, too! I didn’t realize why it was happening, but now I’m starting to think what some of the others here have been saying…that they are scam artists, even if most of their business is legit. Also, MANY times when attempting a trade I’ll receive the following message: “Your trade cannot be executed at this time. Please try again later.” What! But I want to trade…NOW! I talked to a rep about this and they explained that, due to market volatility some trades wouldn’t go through. They said they would ask one of the technicians to look into it, but I’ve yet to hear anything back from anyone. All I know is that trading on OptionBit can be very frustrating! You LOSE trades you saw yourself win (I’ve witnessed at least 4 trades I finished Green and In The Money on, only to see the balance in my account go DOWN and the closing history on my account show losses instead of wins), and you often can’t place a trade exactly WHEN you want to.

  26. SuzukiC50 Says:

    I opened an account with Option Bit a couple of years ago. I hadn’t logged in in a while. I had to chat with a representative because I couldn’t get into my account. He then informed me that they no longer do business in the USA. He was finally able to get into my account I was told to click on cashier to request a withdrawal and close the account. When I clicked on
    cashier it logs me out of my account. So far I haven’t heard anything from their support. Also they never informed me that they were no longer doing business in the US. BEWARE OF OPTION BIT AS THEY ARE VERY DECEIVING!!!!!

  27. Jay Says:

    Whew! I listened to the pitch by Marc Williams and almost fell for it. But thanks to all you poor bastards who got shafted, I won’t be opening any account with these dirty scunts. Here’s the dirty beggar’s e-mail address who pitched this dirty site. Let this jerk have it fellas, start filling his e-mail with thank yous, if you know what I mean!Marc Williams, you dirty piece of crap! People are hurting for money just to put food in their children’s belly’s you low life!

  28. Harry Smulders Says:

    I sent €200 for a trial and never traded. and after reading your report I decided to introduce a refund request. No way :(. I sent more than 7 (seven) reminder emails and had three tel calls. Never a reply to any of my emails, neither confirmations. No recommendation. I finally received my funds because of complaint to my visa card who blocked the transaction.

  29. NGUYEN Says:

    I’m a victim of the Optionbit. anyone can help me to get my money back?
    I have funded 500AUD and claim 150% bonus (the bonus is not redeemable). After 2 weeks very success trading, my account balance was 6990 AUD, and the turnover I have traded fulfilled the requirement for withdraw fund. I have submitted a withdrawal request for 6950 AUD, but they decided to close my trading account and transferred 3048.6 AUD to my Netteler account only.
    They told me that I have used abusive trading patterns, so they took almost 4000 AUD from my account.
    I have never used abusive trading patterns (never use any kind of robots, trading systems) as they told me. I have sent them emails to give me proof of using abusive trading patterns, but they never reply to me.
    Please help me to get my money back from them
    Thank you

  30. Anastasia Says:

    NGUYEN, I had the same problem, But Then I realized the trade had been split to insure the transfer to be much faster, And received the other half in 2 days, I guess you did as well but just didn’t mention it.
    The people who worked there before was fired as I’m working with this company for 2 years, and they made a lot of changes to improve them self, so it is all different now, and the regulation is fully working.
    From my personal experience, I really enjoy to work with this company and I receive my profit every time.

    • andrew Says:

      have they improved there reputation yet?
      is easy for to say that you were paid to do a fake review

  31. Sergey Says:

    OptionBit discovered that you were abusing the system.
    You at first invested 500 AUD and made a substantial profit. Afterwards you decided to misuse and abuse OptionBit.
    As it mentions in terms and conditions you yourself signed, OptionBit is allowed to suspend and close your account anytime needed if there is fact suspicious and abusive activity.
    Instead of closing your account completely, OptionBit gave you your honest winnings – 3048.6 AUD, and then suspended your account.
    You yourself acknowledged that you received your profits, which includes your investment plus an additional 500%.
    OptionBit will be glad to hear your apology and will forgive you for calling it a fraud.

    • Bogdan G Says:

      “OptionBit discovered that you were abusing the system.”

      Oh really? And how do you know that?

    • NGUYEN Says:

      Hello Optionbit team,

      As I mentioned many times via email, I have never abusing the system, I have traded manually (no any robots, systems….)
      Can you explain to me what is “misuse and abuse OptionBit”?
      The money I have made on the account is my hard earned money, not easy at all! why you were easy scam my money?
      You – Optionbit – should apology for the bad behaviour (not me) and send me the 4150AUD you have decided to take


  32. Mike Says:

    I see that you have another front desk. Wants to hang up because you have stolen my money. It has been over a year since I requested my money. You advertise 48 hrs to send. I have requested every day since August 2014. Now you have another answering because of your lies.
    I want my money that you have said you sent three times last month. September 2015.

    If you don’t like me calling all you have to do is send me my money!


  33. andrew Says:

    is anyone making any money on this this product ?

  34. may Says:

    I was ripped off of $28000, on a trade I did not want or give permission for. I asked for a withdrawal after them manipulating me into getting my credit card dtails off me over the phone and traded my money on one trade without my permission. They tricked me when I asked for a withdrawal and our credit card money back as we said we cannot afford to lose it. They said we will give you a couple of free trades first before you withdraw so you can withdraw with a profit . they then directed me to the trade site and told me what to do. unknown to me I put two trades on with my $28000 and with in 1 minute was told I wasn’t quick enough and lost. I had no idea what was going on. He said you did it with your own hand. It was just devastating and we are still trying to get through it as we have to pay the bank now back and are in our 70 age group. They are legal crooks and I intend doing something about it to expose them for what they have done to us.

    • Martin Says:

      Hello dear,
      Unfortunately, this is a too common problem and a lot of our readers are in your situation. We’ve sent your complaint to the broker but in case they don’t answer, here is what you can do:
      • Make sure your identification documents are sent. Brokerages have to ask for IDs due to Anti-Money Laundering (AML) procedures. If you feel you are dealing with scammers, obviously do not send them IDs.
      • Contact the brokerage and ask them to join this discussion. Send them a link to this page.
      • If you have been scammed, you should contact the official regulatory authorities in your region and file a complaint because we cannot do it in your name. Here are some of the regulatory bodies across the globe.
      • If someone (firm or individual) contacts you and claims to be able to get your money back in exchange of an advance fee, do not pay and stop any contact with the said firm or individual until you have verified their credentials.

      Yours truly,
      BOTS Team

  35. Ponraj Says:

    One of the WORST trader is OptionBit. Please do not fall in there trap. All your read good about them is there own people posting around. They have all way of ensuring that you loose your trade and will also ensure that they drain what ever you saved for your personal life. Be careful with OPTIONBIT. If you wish you can message me in p_noah@rediffmail.com and i will give more information how they cheat you.

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