OptionBit was an unlicensed binary options broker, owned by Global View International Services Ltd which is located in Saint Vincent and the Grenadines. Their mailing address is 272 Bath Street, Glasgow G2 4JR, United Kingdom. Their phone number in the United Kingdom is +44 203 807 1341.
OptionBit Platform Review
OptionBit uses the Tradologic binary options trading platform. The platform gives traders Digital Options, Range Options, One Touch Options & 60 Second, 2 minute and 5 minute binary options. Returns on the $EUR/USD is 80%.
They have long term options with expiration times going out a far as 3 month. OptionBit is a popular global broker. Their trading platform is available in English, Russian, Japanese, Arabic, French, Italian, German, Spanish, Portuguese and Svenska.
OptionBit Trading Signals
They are the first binary options broker to create an algorithm software called AlgoBit for traders to use.
The nice part about AlgoBit is that you have the ability to control which assets you are interesting in receiving signals for. You can adjust the settings higher and lower so that you only receive notifications of serious trading alerts. Once you receive a trade alert, you can easily place a trade directly from the software.
Warning: Most trading systems do not make money, see how the scam works here.
If you want to see a real automated trading system look here.
When we review a binary options broker to determine if they are a legitimate broker or a scam broker we look to see. Did a regulator body like CySEC in Cyprus give them a license or do they fall under the MIFId regulatory rules in the European Union (EU)?
OptionBit is not a licensed broker.
When choosing a binary option broker it is always important to check the list of regulated binary option brokers to see if the broker you would like to open an account with is regulated by a government regulatory agency.
Warning from ASIC Australia
“ASIC urges all investors considering trading in binary options to check they are dealing with an entity that holds an Australian financial services licence.”
There a few licensed brokers you can trade with see here.
Are you currently trading binary options with OptionBit? Please share your review in the comment section below.