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US Customers: YES
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Invest $500 – receive 20% bonus
Invest $2,000 – receive 30% bonus
Invest $5,000 – receive 40% bonus -
Minimum Deposit: $100
Minimum Trade: $10
Assests: Are always increasing; Currently US customers can trade 9 stocks, and soon the additional 7 indices, 4 commodities, 1 BOND and 11 currency pairs as additional regulatory requirements are met.
OptionBit.com is a relatively new binary options broker, having launched in 2010, offering a clean, straightforward and completely web-based binary options trading service. They helpfully provide a free, limited edition, ebook to beginners explaining the technical jargon, how binary options work and how to trade. For experienced investors, they allow options to be purchased up to $5000 which is amongst the highest in the industry. OptionBit.com promote and specialise in weekend Touch Trading, allowing traders to purchase this option whilst markets are closed, and offer one of the highest payouts in the industry for this at up to 400%.
Along with this out-of-hours trading they also provide regular binary options trading, where expiry of the option is simply above or below the strike price, and Range Trading which allows traders to predict whether the option will expire within a predetermined range. Returns on these in the money options range between a competitive 65-81%.
OptionBit.com use the Tradlogic trading platform which is accessed through the homepage and client funds are kept securely and separately with godaddy SSL. Traders can choose from a selection of 11 currency pairs, 6 commodities, 7 indices and 10 stocks. The platform also operates in five languages and they offer bonus incentives for new account holders of 20% for an investment of $500 and up to 40% for investments of $5000. These are described as an ‘educational allowance’ and allow new binary options traders to get to grips with placing trades on the platform without risking any initial investment.
The three areas that OptionBit.com specialise in are Touch Trading, Range Trading and regular digital options. Alongside these they offer trading tools to enhance the experience of trading binary options including a take profit facility which allows traders to close their position before the option has expired. This can be used to either realise a profit which may be at risk, or to close a position which is trading at a loss and unlikely to expire in the money. OptionBit.com also provides the option for traders to extend the life of their trade by rolling over the expiry to the next available expiration time. This allows an option which is set to close out of the money to be extended and therefore increases the prospects of making a profit. This function has a one-off fee but is incredibly useful for intraday trading where rolling over the expiry time of a high-probability trade can make the difference between closing in the money or out of the money.
The website provides a live chat function and also telephone customer services. Opening an account is incredibly straightforward and the minimum deposit in $100 so it is a highly accessible way for new traders wanting to gain experience before risking larger amounts of capital. Deposit payments can be made by credit card, bank transfer or paypal payment. Overall, the website is fun and easy to navigate and opening an account and trading with live funds can be done in a matter of minutes. Offering three different varieties of trade opens up multiple ways to trade binary options and therefore multiple ways for this to become profitable.