Before we start with the good stuff about OptionBit brokerage, it is always nice to dig some dirt out from it. Now, let’s talk about what dirt OtionBit has in its closet. Well, its main problem is the fact that it lacks out-of-money refunds. This bit is always a vital feature when there is a bad investment. This means that if you predicted wrongly, then you will have nothing back, zero! The fact that most brokers these days are already offering refunds would make you wonder why OptionBit doesn’t even after its site’s recent upgrade.
Now let’s talk about the good stuff about OptionBit. The best part about it is that it uses TradoLogic which is a modern platform that focuses on simplicity. Besides the platform, it provides above average returns which are kind of great. Moreover, the site has recently incorporated a tool called Trader Insight and Advanced Chart to its platform, and it also renovated its site to give clients that feel at home professional feel.
OPTIONBIT: A FULL REVIEW
In the world of Binary Options trading, OptionBit can basically be considered fresh. Launched last May 2010, geared its campaign towards providing clients with an easy-to-use and well organized trading platform. Just like regular brokers these days, its platform is 100 percent web based and is available in nine different languages. You do not need to download any software to use it because a simple internet access can get you going. As mentioned before, the site trades using the TradoLogic platform and it is well secured by Godaddy SSL. The advantage of using OptionBit is that its platform is based on advanced trading systems in the binary options trading industry. This system comes with very useful tools such as Digital Trade, Touch Option, Range and In Trade tools such as Extend and Close Now options.
Generally, it is good to not that OptionBit had a successful kick-off, and it looks like at can become valuable in the trading world. So why do some still consider it bad? Before it had a total revamp, traders can only see a single asset at a time. It also lacks some information about the assets. When you move your way from one asset to another, you will realize that it is chaotic. However, its recent update has given it a better light. You can have a more enjoyable trading experience. But it still needs more improvement especially on the charts part. Unlike before, now you can already access strike price details easily.
Sadly, another bad note that OptionBit has is its unfree “free” demo. Yes, this sounds bad and sounds more like false advertisement. Beginners won’t be too happy with this because they need demos to learn the basics of trading. You will surely be shocked that you can only try a demo account when you open an account with them. What is worst is that you can only open an account when you give an initial deposit. So if you are serious about learning how to trade then this would not be a great site for you.
OPTIONBIT: SCAM OR NOT?
As mentioned before, OptionBit does not offer any Out-of-Money refunds. Usually this refund offers one to 15% money back but Option Bit does not offer even just one percent. This is the greatest reason OptionBit is not so cool. Despite this, the site needs a lot of time to prove themselves. It may have been established in 2010, but it still needs a lot of time to become a great broker. Reading reviews and asking another trader about your preferred site would a good way to know if a broker is a scam or not.
You can always check our recommended brokers by clicking here.