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OptionBit Broker Review

  1. This broker is closed. 


    OptionBit broker comes as one of the popular binary brands on South African market. This brokerage company is owned by the Novox Capital Ltd.

    OptionBit broker review will reveal in-depth information about the trading platform and which features are on traders’ behalf to use and possibly make money in the trading process. This broker delivers a modern platform with multiple features, that should satisfy both beginners and expert traders.

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    OptionBit South Africa

    This OptionBit broker review will reveal how required minimum deposit is industry average of $250. Returns are high, can go up to 88% in terms of successful trades. Also, lowest OptionBit minimum investment is $10.

    Trading platform is available on even 9 languages, which we find especially useful so that traders around the globe have opportunity to navigate over the platform on more familiar language.

    A great information we discovered while reviewing this binary broker is that OptionBit is connected to Binary Options Robot; a popular binary trading software and one of the most known on binary market in South Africa.

    To trade binary options on this software, traders can register on Binary Options Robot dashboard, and afterwards they will be redirected to OptionBit platform to make a deposit. Once done, South Africans can go back to the Robot who will place trades in different assets on behalf the registered traders.

    How to Trade on OptionBit Trading Platform?

    According to provided info on OptionBit platform, we learnt how they use Tradologic software.

    Entire platform is well-equipped with needed tools and options to select from and should be simple enough when used by both professionals and novice traders.

    To traders in South Africa, OptionBit broker offers several trade options, such as Range Options, One Touch, Touch/No Touch Options, Digital Options and Turbo Options.

    Also, an expiry time for a particular trade has to be chosen. Therefore, South African traders are able to choose between few times of expiry: trading within 60 seconds, 2 min and 5 min.

    Beginner and expert traders can perform trades on OptionBit platform in a wide range of underlying assets, such as stocks, commodities and indices. The full list of assets can be found under Asset Index tab on OptionBit platform.

    For registered traders, OptionBit offers demo version of the trading platform where South African traders can practice and expand their existing financial knowledge. Demo account is a significant trading tool which can help inexperienced traders to learn more tricks on how to trade binary options and use different trading instruments to enhance their trading process. So once traders feel comfortable enough, they can make a deposit and begin trading on real trading account.

    Probably the biggest benefit of OptionBit demo account, is the fact it enables trading at no risk, since no real money is involved but instead only virtual money provided by this broker. On demo account, traders are able to perform different trades, decide whether to invest in more or less riskier trades and try out strategies to see which one fits the best. For more details about how to use a demo, we suggest contacting an account manager.

    Due to tech developments and continuously improvements, traders are no longer obligated to trae binary options solely on their computers, but also on tablets and smartphones. It shows how OptionBit broker developed a mobile app for enabling trading binary options on the go.

    With mobile app, traders in South Africa can access the platform and invest in a variety of available underlying assets. This app is user-friendly which is important for traders to use it in a simple way and to be able to follow current trades.

    OptionBit Account Types

    What we learnt from OptionBit broker review is that traders can choose between 4 trading accounts. Below, we’ll provide more details per each account types and based on which elements should traders decide.

    OptionBit Mini Account

    • Ebook and trading alerts
    • Basic video tutorials + webinars
    • 1 free withdrawal / month
    • Daily market news
    • Support help

    OptionBit Standard Account

    • Ebook and trading alerts
    • Full video lessons package
    • 1-on-1 sessions (up to 5x)
    • 1 free withdrawal / month
    • Advanced charts + trading webinars
    • Market news twice a day
    • General support help

    OptionBit VIP Account

    • Ebook and trading alerts
    • Full video lessons package
    • Unlimited 1-on-1 sessions
    • 2 free withdrawals / month
    • Advanced charts + trading webinars
    • Market news twice a day
    • General support help

    OptionBit Diamond Account

    • Deposit of $50 000
    • Contact customer support for more detailed information

    OptionBit Customer Support Service

    As one of the main segments on a particular broker’s platform is to have a very good customer service and supportive agents who are available for interested traders.

    Our OptionBit broker review revealed us how traders in South Africa are able to contact this broker via live chat, email on [email protected], online contact form and phone number for 8 countries.

    If traders want to have more trading information regarding available trade options, tools etc, they can use the help of FAQ with listed questions and answers. Also, important info such as how to deposit and withdraw money will also be provided.

    OptionBit broker realizes how important is education and therefore, they offer South African traders a wide range of materials, which can be easily found under Trading Assistance (placed on the bottom of platform). They include following: economic calendar, glossary, webinars, training program and different tutorials for beginners and experts.

    OptionBit Banking

    On OptionBit platform, under Legal tab, South African traders can get a detailed explanation of their business, alongside with a selection of policies which should indicate how this broker is serious and doesn’t use provide any scam tools nor services. For example, traders can read terms & conditions, privacy policy, Investor Compensation Fund etc.

    Also, this OptionBit broker review will show South African traders how they use SSL technology to protect traders’ data, personal and financial. But, before traders make any payments, they first need to authenticate their trading account, by providing following documents: proof of address (not older than 6 months period), copy of photo ID and credit card copy (both sides).

    To trade binary options on OptionBit platform, traders in South Africa are able to make payments via:

    • Mastercard and Visa credit cards
    • Alternative payment methods: Skrill, WebMoney, QIWI, Yandex.Money and PaySafeCard

    Regarding withdrawals, traders first need to fulfill withdrawal request and could take up to several business days until OptionBit broker process the request. This broker however, allows one withdrawal per month free of charge (for VIP account, 2 withdrawals). For each extra in the same month, fee of $30 will be charged.

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