Is OptionBit a Scam? Read This Brutally Honest Review

Closed!

OptionBit
Regulated: CySEC

Broker Name:	OptionBit
Platform:	Tradologic
Founded:	2010
Bonus:	Case Basis
Return/Refund:	70-85%/0%

No. Of Assets:	100+
Regulated:	CySEC
Demo Account:	No
Minimum Deposit:	250
US Traders:	Not Accepted

Last Updated 06/26/2018

OptionBit Review

by Martin Kay

Launched on May 2010, OptionBit was formerly owned by Novox Capital Ltd. which used to be regulated by CySEC. Today, it is under new management. The new company is Top Volume Solutions Limited and provides a fake address: office at Suite 4, 1st Floor, 23 Engineer Lane, providence industrial estate. They claim to be regulated in Gibraltar by the “Gibraltar Securities and Exchange Commission” (does not exist) with the following Company number: 109085. The real Gibraltar regulator is Gibraltar Financial Services Commission that strictly warns against engaging with Top Volume Solutions Limited! The company, Top Volume Solutions, is not regulated by the Cyprus Securities and Exchange Commission (CySEC) nor the Gibraltar FSC. Furthermore, OptionBit.com is also in the French regulator’s (AMF) warning list.

Update March 2017: This brokerage continues to puzzle us: a recent visit showed that OptionBit is owned by Novox Capital Ltd… again. Now there’s no trace of Top Volume Solutions Limited and we don’t know what the story behind this new change is. We cannot confirm if the domain/brokerage was sold back to the initial owners (Novox) or what exactly happened and all this looks like a tangled spider web, with back and forth changes.

What we know is that CySEC’s website lists optionbit.eu as an approved domain of Novox Capital Ltd, which is a regulated Cypriot Investment Firm (CIF) under licence number 224/14 and a listed address at 4 Michael Georgalla Street, 2409 Engomi, Cyprus. A big fine was recently dished out by the Cypriot watchdog but I’ll give you more information about it in the Regulatory Warnings and Announcements section below.

Is OptionBit Scam?

OptionBit certainly posses a scam threat and if you ask me I would look elsewhere. Both the French and Gibraltar financial authorities have issued warnings against dealing with OptionBit and the new owner, Top Volume Solutions Limited that claims to be regulated in Gibraltar. Due to this change of management, OptionBit is no longer regulated by CySEC either. Furthermore, since we did the review, the number of complaints on OptionBit has increased regarding withdrawals, price manipulations and more.

The FSC says this about Top Volume Solutions: “The FSC has received information about websites operated in the name of these companies*, for which the company secretary has resigned and also filed a ‘Notice that the company does not have authority to use the address it has registered’ at Companies House. References are made on these websites to the companies’ former registered office addresses in Gibraltar, as if this was where the websites were operating from. The FSC has received complaints from customers, where they describe having been unable to withdraw funds placed into trading accounts operated by these websites or otherwise experienced difficulties when attempting to obtain monies owed to them. None of these companies are or were regulated by the FSC, nor licensed under the Financial Services (Markets in Financial Instruments) Act 2006, to carry on investment business in or from within Gibraltar.” *Company = Top Volume Solutions and a few others.

Please read more here below, under “OptionBit Complaints” on how to proceed in case you are already involved with OptionBit.

Update March 2017: The new change of owning company makes things even shadier and makes us trust them even less. Now the brokerage changed hands again and is owned by the previous company Novox Capital Ltd. So as far as we know, OptionBit was owned by Novox, Capital then by Top Volume Solutions and now by Novox Capital again. Be extra careful if dealing with this brokerage but maybe it’s better to stay away completely.

As far as web traffic is concerned, OptionBit is having troubles: during the last 6 months, their highest visit count (on optionbit.eu) was 55K (in October 2016), which is very thin, considering that the big brokerages easily surpass the 1 million mark. Ever more worrying is that in January 2017, they only had a little over 10K visits, which is almost a sign of a brokerage’s “last breath”. Not sure what’s happening, but it can’t be good. The website optionbit.com is doing better, with over 100K visits in January 2017.

As a special note, I have to warn against OptionDot (optiondot.com) because this brokerage shows the name OptionBit all over their website. I have no idea what type of relation the two websites have, but both are a bad choice if you ask me.

Please Avoid: Too many doubts regarding this broker. We have at least 3 more brokers available at your location. get started with a Trusted Broker Now!

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

OptionBit sucks because they went from being a CySEC regulated broker to an unregulated broker with new ownership. They were acting unfavourably towards their clients even under the CySEC regulation and are now fully unauthorized. What’s even more alarming is the fact that the new company claims to be regulated in Gibraltar and that’s an outright lie!

Update March 2017: OptionBit is again under the ownership of the previous company and thus regulated by the CySEC. But all this back and forth business covered in uncertainty makes them suck even more. Why did they change from Novox to Top Volume Solutions and then back? I don’t know, but this lack of information and transparency sucks big time.

Why OptionBit doesn’t Suck?

Despite a few interesting platform features and decent candlestick charts, they are operating illegally and therefore, there are no good reasons for why you should trade with this broker. What good is a nice looking trading platform and website if you can’t even withdraw?

Should I Open an Account with OptionBit?

Like most new Binary Options Brokers platforms, OptionBit platform is 100% web based (available on 9 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. Update March 2017: OptionBit offers Advanced Charts powered by TradingView.

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! Update March 2017: They’ve introduced a new account called Diamond, which requires a minimum investment of 50,000$. We recommend you stay away from such an account or better yet, from this brokerage.

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 software as they usually just blow the account. Based on what we have found (see Is OptionBit a scam & OptionBit Complaints below) we can be certain the Algobit is another method for wiping trader’s accounts.

You can trade Binary Options, Short Term, One Touch and Range on the platform and the asset’s index is pretty good, offering 90 assets. You can select a refund in advance on expired options or 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. But the biggest disadvantages are the serious complaints that have increased and because of the warnings issued by FSC and AMF, we now know which way OptionBit has decided to go – the wrong way. Better to avoid this broker!

OptionBit Complaints

Apparently, OptionBit 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. However, more has come to our attention as of December 2015.

There are serious complaints regarding price manipulations where people have recorded evidence of their trades. You don’t have to go far to find these complaints, just scroll down and check out our comment section here below. A couple Google searches will also lead you to hundreds of further complaints on OptionBit. In many cases the account managers have either placed losing trades or manipulated customers to execute losing trades when they have requested for a withdrawal. This is a typical technique scam brokers use to avoid paying out. Extremely delayed withdrawals are a common practice too but the soon as you start doing “well” the payouts stop coming and price manipulation becomes a fact.

More complaints on OptionBit other than in our own comment section can be found here:
Tradecomplaint.com
Complaintsboard.com
BinaryOptionsEdge.com
BinaryOptionsPost.com

Update March 2017: Complaints about OptionBit are flooding the Internet, ranging from unauthorised deposits (money is taken from clients’ CC and sent to their binary account) to price manipulation and to unauthorised trades done by OptionBit representatives on clients’ accounts. On one of the largest forums for complaints and much more (forexpeacearmy.com), OptionBit was given a “Guilty” verdict on a case opened by a client (Source: FPA Moraks vs. OptionBit). Over the years, ForexPeaceArmy’s Court has become a very well respected venue and a Guilty verdict there is kind of a big deal, which just goes to show that our reticence about this brokerage is not unfounded.

Please Avoid: We have found too many complaints concerning this broker. Why taking a risk with a shady broker when you can get started with a Trusted Broker Now!

OptionBit Regulatory Warnings and Announcements

15.02.2017: CySEC announced that on 05/12/2016 imposed a fine of 175,000 Euro on Novox Capital Ltd (which is the current owner of OptionBit). The biggest portion of the fine (70,000 Euro) was given for providing investment advice and portfolio management services without having the appropriate authorization. The CySEC also noted that Novox Capital failed to act fairly and in the best interest of their clients. Source: CySEC Board Decision.

OptionBit Bonus

In the Promotions section, OptionBit informs us that the bonus is 30% for a $200 investment, 50% for an investment of $1000 and 75% if you deposit $10 000, while the wager is 30 times the deposit.

Update March 2017: According to their Promotions page, for a $200 deposit you will receive a 30% bonus, for a $500 deposit the bonus is 40% and finally for a $1,000 deposit you will receive a 50% bonus. According to their Accounts page, they now feature a Welcome Bonus and a Loyalty Bonus but no other info is provided here. According to their Terms and Conditions, they do not offer any type of bonuses. If this is confusing to you, then you are not alone because it’s confusing to me as well. However, they state that some benefits may be offered, in line with CySEC’s circular C168.

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. 2015 Edit: Withdrawals are dilatory and can at times take over a month. If you are doing well with your trading, expect your withdrawal days to be over.

Update March 2017: Only one withdrawal per month is free and VIP account holders now benefit from speedy withdrawals that take 3-5 working days, not the usual 7. However, given all the problems mentioned so far in this review, we believe that withdrawals may take much longer than that.

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 9 languages.

No. of Assets and Expiry time 16/20

Total of 100+ assets: 28 currency pairs, 9 commodities, 23 Indices and 128 stocks. The fastest expiry is 60 seconds as Super Turbo (15 and 30 seconds) is not available anymore.

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!!

Update March 2017: Only one monthly withdrawal is free and the rest carry a fee of $30. Their Live Chat is not available. I tried to contact them in the middle of a working day (GMT time) and all I got was a message to email them.

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- 250$ 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%.

Update March 2017: They’ve introduced new methods for deposits/withdrawals, among which: Webmoney, Yandex and Qiwi. OptionBit does not offer any bonus according to their T&C’s but according to the website they do. The turnover is not specified anywhere.

Website Extra’s 10/20

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.There are two new recent features added to the platform. Dynamic Payout; where traders can in advance select their profit-to-loss ratio from 0% up to 20% with 5% increments. And finally, Super Turbo; trade within 15, 30 and 45 seconds expiries.

Update March 2017: The following features are now gone or sent to a dark corner where I couldn’t find them: Demo account, AlgoBit, Dynamic Payout and Super Turbo.

OptionBit Overall Score + Regulated +3 = 73/100

WARNING: This broker has been rated below average by our members and team. We found 3 Recommended Brokers for You

78 Responses to “OptionBit”

Sort By:

chris bones
12/23/2021 23:20

theft by option bit
in 2016 i was ripped off by option bit to the sum of 32000 gbp whats the chance of getting my cash back ? yours sincerely chris bones
00
Alex
06/26/2018 02:16

OptionBit please if any of you
OptionBit please if any of you have more information, please contact me, I’m proceeding with my lawyer against optionBit … these bastards “S. of B.” do not have to save …
Thk You
Alex
[email protected]
00
Les
11/15/2017 16:33

Optionbit has NOT given up on
Optionbit has NOT given up on BO after all. They are no longer OptionBit.eu but are OptionBit Global. They have departed from Israel and moved,
OptionBit is owned by Global View International Services Ltd incorporated in Saint Vincent and the Grenadines, 272 Bath Street, Glasgow G2 4JR, United Kingdom.
That’s a strange address !
00
Les
11/14/2017 13:03

How long have you had the
How long have you had the account with them? They should not have accepted your sign up given that their parent company (Novox Capital) decided to cease binary options a few months back. If you have all your details you should not only contact them but also the regulatory body and the Israeli ministry concerned with investments..
00
Ali Al-Shaikh
11/14/2017 03:18

optionbit
optionbit, they closed my account that has money without informing me way the are closing my account, if course it has some amount. the never reply to my chat our email or call.
00
Mark Gyeles
10/31/2017 07:50

Trading in beginners is really nerve
Trading in beginners is really nerve racking there always this fear of losing your money, good thing I made the right decision to join Optionbit as their support centers have guided me in my first few trades, they have good packages that will help you learn trading and bonuses that will help you trade more, i remember the excitement i got when I’ve withdraw ed my first earnings.
00
Joseph Carter
01/17/2017 09:54

Really difficult to find a reputable
Really difficult to find a reputable & honest binary options trading company.
OptionBit was a real disappointment. I invested 15730USD two weeks (14 June 2016) before the Brexit vote/announcement. By 21 June ,with consistent daily trading, my portfolio was standing at 18518USD. On 22 June 2016, I had grown the portfolio to 64287USD. These are all actual figures from my account.
On the morning of 23 June, I entered small trades, and by the end of the day my account was virtually wiped out (balance at 1570 USD).
I later found that OptionBit had tracked my trading and activated an trading manipulator which resulted in my losses. I personally tested this by closely recording my trade values and found they did not match the values entered by the OptionBit system when I placed the trade. Obviously I was set up to loose.
I do believe that Binary Options Trading works, the difficulty is in finding an honest trading company.
00
Graham John
12/22/2016 12:58

Hi Mike Sorry to be a
Hi Mike Sorry to be a bearer of bad news but I am feeling quite depressed today. I checked my total losses in trading account which is over $26k, which by my lowly financial position is very substantial.
I would need to earn the equivalent amount in profits just to breakeven in this very risky & over-hyped scheme. I guess that could take many months , even years to achieve.
To me binary trading is just like going into a casino & betting on odds or evens, red or black without any prior knowledge of gambling principles.
At this stage there is no way I could recommend this type of “investing” to any of my friends, family or others. I would always suggest there are much better investment options, even in Australia, that provide higher rather than large negative returns in the medium-long term
00
Phyll
12/13/2016 06:57

Well I was even more stupid
Well I was even more stupid. A lot more!! I got persuaded to put in just under US$9000. When they wanted more and I refused they convinced me they needed to get it up to $50,000 by trading so they lost the lot for me in one session. Obviously teaching me a lesson.. I can’t afford to lose this money and I feel absolutely gutted. Avoid Patrick and Chris. They’re very clever at persuasion.
00
ian
12/05/2016 21:52

Well my bank will not allow
Well my bank will not allow me to deposit money into binary option sites and after reading a few complaints I will be thanking them the next time I go in there. Ian
00
Vegard
12/02/2016 19:24

Wow am i stupid
Wow am i stupid. I read all riveding reviews, YT videos and all that. I signed up, payed the 250$, gave them the documentation wich im going to regret really really bad, they have all my info now. After i spoke to the dude on the phone, i now no longer have access to my account anymore so I locked my creditcard. And hopefully i will get my money back.
00
Gillian
11/28/2016 02:27

Made a $250 deposit
Made a $250 deposit. Got an immediate $75 bonus. Account is now $325. Made some small trades and won some/lost some. Account is not $285. Gets a call from a “senior account manager” with a horrid accent,can’t speak decent English. Makes a few trades which are all successful. Account is back to $330. Tries to convince me to make a deposit of $5000. I decide against it. Manager becomes rude and starts questioning my financial skills etc. I make a few more trades myself and I’m successful in 8/10 of them. In the afternoon,I start losing all my trades. Manager calls again. This time,makes 10 trades all which are successful. At the same time I put those trades in,I’m also putting them on another site-same time,same amount,same expiry. Those trades on the other side-2/10 are in the money. Account manager keeps bugging for more money. After I came here and read the comments,I decided to stop dealing with them. They are definitely rude- I believe all clients should be treated in the same way regardless of amount deposited. No one starts options trading or other forms of investment with $5000 of their hard earned money. Stay away from Optionbit, my story mirrors many of the others who have gotten cheated. Account manager was telling me how much money he made during Brexit/Trump etc- I felt like telling him- you meant all the money you STOLE from your clients. Thank God I didn’t make the transfer of $5000 or it’ll end up in smoke.
00
Jodee L
10/19/2016 19:33

Once you sign up they harass
Once you sign up they harass you with phone calls constantly at all hours one night I had 15 missed calls. Then they ask for Identification to verify your account which is ok but I was told they can’t accept my license as it had certain detail blacked out. I told them I was scared of identity theft so didn’t want to provide my signature. And then once I told them that the phone calls stopped and the $250 I deposited has very quickly been lost from the account. Do not sign up to optionbit or copy buffet software!
00
- Eric Ng
  11/25/2016 12:57
  
  Hi Jodee
  Hi Jodee,
  Are you using creadi card for you deposit, if is a creadi card, please go to your bank ask do a charge back !!! (Is a process of rechargeback the amount and get your deposit back)
  00
Mary
09/05/2016 12:50

They take your money before telling
They take your money before telling of all the tricks they have to make it impossible to withdraw funds. They want so many of your details that they could do anything with your card details, none of this is mentioned before you pay them. Option bit, just like the old Boiler roo.
00
Alex
07/08/2016 14:23

I just got the news from
I just got the news from Optionbit that I was literally “stole” all the money invested (30,000 usd) and that there “may” return.
Ask average initial deposit and promise significant returns (30% monthly) apppena you do, make you are trading with the purchase prices favorable to trade suggested by them and begin to win … this for a few days or a few weeks.
Then ask higher deposit on the grounds that they have a particular kind opportunity (capital protected packages that you can not lose under any circumstances etc …), you have gained confidence from the previous losers trade and do everything to find the money.
Just send more money, they make you talk to a new analyst who will suggest new trade, usually this analysis speaks another language.
Make the trading sessions and start winning … (chiaroi purchase prices are manipulated by their platform)
Then at some point when you’re “cooked” in the sense that you trust as they see chestaivincendo … make you do (induced) more large operations and all at a time! at this point you lose everything !!!!!
You lose everything !!! … And when you tell him to put money back into the account, say they can only put the bonus! and not the real money they should put the agreement of operations according to “capital protected.”
At this point you realize that the capital protection is not estiste because the bonuses are play money! even if you manage to be successful in subsequent operations do not you make them withdraw …
Show cause and they tell you that the bonus can only be withdrawn after making 30 times the handling of the initial bonus … so with a 30,000 usd bonus you must make a operability of 900,000 usd … during this operation, changing prices and other various tricks burn you all !!!!! then they give you bonuses, but never be able to make trades which are used to recover the money!
Optionbit included in the blacklist, if anyone has had this problem or has come into contact please.
Email contact: [email protected]
00
Chris
06/02/2016 17:09

I'm not sure if I can
I’m not sure if I can delete account from optionbit because I really do not want to involve in this kind of trading. I think I have been conned. Can anyone teach me how?
00
Christ
05/21/2016 04:01

My 2 cents to those who
My 2 cents to those who considering OptionBit,
They do whatever to hold your money, best case is u lose, then the House can officially win your money. Remember these manager are just SALES MAN that earn commissions for living, perhaps even a bonus if client lose all fund to the House. If they such skillful as they praise themselves in phone, they could probably millionaire already and not even give you a fxxx, or trading for big institution, Not by calling you wanted to teach you trading, holding your money, ask you deposit more money etc. Insist your NO with whatever ridiculous reason till the end, Your withdrawal will be safe. As what I did.
Quote from a professional Baccarat player, the house(broker) hates you, they are NOT your friends. They treat you as VIP just because they hate you. They are not happy to see you win, any single dollar that you put on that table, they would say: “Hey! That’s my money!”
00
Dennis Batten
05/19/2016 15:14

I paid them a deposet the
I paid them a deposet the next thing was that they emptied my account and Bank won’t do any thing about it.they just steal all your money then loose it can anybody please help.l am pensioner and now broke.any body no where they hide [email protected]
00
Dennis Batten
05/11/2016 10:18

I paid them a deposet the
I paid them a deposet the next thing was that they emptied my account and Bank won’t do any thing about it.they just steal all your money then loose it can anybody please help.l am pensioner and now broke.
00
Sim
05/09/2016 10:44

OptionBit
OptionBit. Read here. I deposited US$250 to learn the trade, Within hours a senior account manager call, offering to earn more plan, he demos 80% accuracy with small $10 trade. He requests a top up to 5K which I am not willing. He sends me to their finance where I agree only $2.5K but actual is a double $2.5K deducted. I am not happy I want to quit, he does more $10 trade to demos his 80% accuracy. After few day consideration, I put up the $5K withdrawer request, my account transfer to another manager. He convinces me he is the best. I follow instruction without thinking much and lost the 5K in a single session of 5 trade. Now left with $70.
The recovery team informs only 1% client like me lose, asking me to put in another 5k …. don’t believe them…
00
Kelvin
05/06/2016 20:50

Hi
Hi, I recently became a member of this Binary trading company INSURED OUTCOME, their preferred broker is OPTION BIT. I sent an email to INSUREDOUTOME and i got no reply. I asked OPTIONBIT for the email address of INSUREDOUTOME, I was given a different email from the one I used earlier. I wrote Insured Outcome and the email was returned by the email postmaster saying….the address does not exsist. OptionBit told me that is all the contact information they have for InsuredOutcome. OptionBit then suspended my account until I get in touch with InsuredOutcome. In the InsuredOutcome advertisement boasts were made about never losing a single trade…well with them I lost 12 out of 12 trades. I am still desperately trying to get in touch with InsuredOutcome. Support 24/7 was another boast by InsuredOutcome. Maybe one of all these gurus who send tons of InsuredOutcome advertisement to people all over the world can help me make contact.
00
Mark
04/19/2016 09:45

I signed up for copy Buffett
I signed up for copy Buffett & my assigned broker was optionbit, I deposited $250. During a phone call that day I was told I could deposit more into my account. I answered yes ( as in I understand not yes as in take my money ) Next thing $2500 more was taken, I was assured its putting money from one pocket to another. Trading went well & built up to $5500.One day a week later I was told to put $1000 on one trade. I put $200 as he lost me About $400 the day before. It came in & he was very unhappy I didnt listen to him. The next trades were $2000, $2000, $1000 all at once, which I put. They never even looked like coming in & didnt. Now I have the Rrecovery team wanting me to put more money into my account to recover lost trades. Thats not happening at all. Ive cancelled all my cards. BEWARE.
00
Graeme
03/31/2016 06:22

Hi all
Hi all, Adding to the above. Optionbit and its “employees’ will do everything in their power (and they have it) to make sure you lose your money. I deposited $250.00 and the auto trader was supposed to be activated it wasnt. My “account manager” Sam called and said we would do much better working together without the software.A few successful trades and all looked rosy until I started to lose. My account then seemed to increase again and trading then I noticed that the strike rate was being manipulated by up to 100 points some times and every trade was a loser. I logged off. I get my credit card statement and $3000.00 has now been deposited with Optionbit but my balance is $85.00. My account manager Sam, calls me agrees that there has been suspicious activity and applies a $2800.00 bonus that i cant withdraw. I call, email request contact through the site “live chat’ and I will get a callback. That didnt happen and today The server is down and you cant contact anyone. I have lodged a complaint with the financial ombudsman in Cypres to try and get my money back. Watch out for them “Sam” coming back with another trading name. on your bank statement it shows as TVS* Gibraltar GIB.Be aware.
00
Michael
03/23/2016 22:21

Hi
Hi, I just scam to fund my account and made some positive trade. After reading all comments, I am thinking to withdraw all my money. Anyone can advise me how can withdraw all my money without them delaying or not getting payments from them
00
Claude
03/22/2016 21:28

Optionbit UK London based representative called
Optionbit UK London based representative called after I made an original deposit of 500 euros, a optionbit called Eduard Green recommanded to take some live trades over the phone, and I did so following his recommandations, within 10 minutes managed to have 12 winners and 2 lost trades. Very good results in deed, than Mr. Green suggested to invest more and I was willing to do so in an additional amount of 2000 euros, while transfering me to the finance Dept. our phone line was cut off. A few minutes later realized that instead of the 2000 euros originally agreed Mr. Green / Optionbit took the liberty to retrieve 5000 euros from my credit card. Inwas not happy and refused tonsign the deposit sheet required for the transaction explaining why. Never the less and without my conscent and without a signed deposit sheet optionbit took the money. Today, while trying to withdraw my funds in an amount of 5346 euros optionbit / Mr Eduard Green sends me a congratulation note over the web site for taking a bonus on the deposits made, a few minutes later he told me that I can’t withdraw my funds because of the bonus and that I will need a 42000 euros turnover to withraw my funds. I never accepted such bonus as it was clearly stated on the first email exchanges. A REAL NIGHTMARE started please help if you can recommand a way out of such criminal behavior. I you wish to have peace stay away from optionbit and Mr Eduard Green. Any suggestion would be more than welcome Thanks, Claude
00
Evelyn
01/14/2016 01:33

Truly
Truly, it sucks ! I thought the initial deposit of $250 could start
the ball rolling, but then they ask for $1000 or more deposit for me to be given a seat or whatever it was for it to grow( which they didn’t clarify from their invitation). Better lose $250 than more ! My lesson.
00
chris
01/02/2016 20:09

### Warning - Possible Spam
### Warning – Possible Spam. User’s IP is from Israel ###
So i have had an account with them for aboout 8 months now. i dont really ave any complaints about optionbit. I have been seeing solid return from them every single month. I had an issue one time with the pricing, but for the most part the price differene ussually helps me on my trades. My account manager Scott reed, couldnt be happier with him. He has tought me how to understand the markets, i have told him i wanted to quit driving but he is against it. I seriously dont know why other people claim they are having issues. All i can reccomend is not to trade alone if you dont know what your doing because that how i lost one time until the analyst bateman really started helping me trade.
00
- Peter
  01/29/2016 03:55
  
  Hello Chris
  Hello Chris,
  How much was you initial investment, and how much have you withdrawn ?
  00
joseph
12/28/2015 13:31

my broker Alex frost helped me
my broker Alex frost helped me a lot and was very patient with me throw out the trading sessions, it was an easy start and i saw high profits in short time, there was no need in primer trading knowledge, im getting all the needed tools to trade, the only thing is the slow withdraw processes, takes 3-4 days to withdrow
00
- nancy
  12/28/2015 13:38
  
  why are you copying my comment
  why are you copying my comment is there a point for that?
  00
- Joe
  02/10/2016 11:47
  
  When is the last time you
  When is the last time you had contact with Alex Frost?
  00
nancy
12/01/2015 10:56

my broker Alex frost helped me
my broker Alex frost helped me a lot and was very patient with me throw out the trading sessions, it was an easy start and i saw high profits in short time, there was no need in primer trading knowledge, im getting all the needed tools to trade, the only thing is the slow withdraw processes, takes 3-4 days to withdrow
00
- Ali
  01/07/2016 14:51
  
  Nancy I have some questions email
  Nancy I have some questions email me please my email is [email protected]
  00
Ponraj
11/25/2015 13:55

One of the WORST trader is
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 [email protected] and i will give more information how they cheat you.
00
may
11/24/2015 06:32

I was ripped off of $28000
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.
00
- Martin
  11/24/2015 09:06
  
  Hello dear
  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
  00
- Frances
  01/17/2016 14:11
  
  Hi there did you have any
  Hi there
  did you have any luck getting your money back? Who was the broker you were dealing with?
  Cheers
  Frances
  00
andrew
10/31/2015 15:16

is anyone making any money on
is anyone making any money on this this product ?
00
Mike
10/02/2015 18:01

I see that you have another
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!
Mike
00
- Bir
  08/01/2016 16:41
  
  who was your broker
  who was your broker
  00
Sergey
06/04/2015 14:27

NGUYEN
NGUYEN,
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.
00
- Bogdan G
  08/04/2015 08:40
  
  OptionBit discovered that you were abusing
  “OptionBit discovered that you were abusing the system.”
  Oh really? And how do you know that?
  00
- NGUYEN
  09/08/2015 06:41
  
  Hello Optionbit team
  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
  Nguyen
  00
Anastasia
06/04/2015 11:39

NGUYEN
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.
00
- andrew
  10/31/2015 15:21
  
  have they improved there reputation yet
  have they improved there reputation yet?
  is easy for to say that you were paid to do a fake review
  00
NGUYEN
04/23/2015 14:09

I'm a victim of the Optionbit
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
Nguyen
00
Harry Smulders
12/28/2014 23:30

I sent €200 for a trial
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.
00
Jay
12/11/2014 14:15

Whew
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!
[email protected]
00
SuzukiC50
10/20/2014 14:55

I opened an account with Option
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!!!!!
00
Tony
07/16/2014 05:35

That totally happened to me a
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.
00
ivan
02/27/2014 15:12

it sucks to redraw your money
it sucks to redraw your money after 50 emails i got nothing my money is gone
00
sho
11/14/2013 12:08

Thanks guys
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
00
Steve
09/03/2013 17:45

Lots of grief but after I
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.
00
vagner
05/16/2013 11:40

Eu posso dizer que me escapei
Eu posso dizer que me escapei deste fraudador option bit, ao ler estes comentários que
valeram muitos dias de suor.
obrigado a todos…
00
fert
01/28/2013 22:13

That's enough for me
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?
00
jerry
01/09/2013 21:31

I have an account with OptionBit
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.
00
Dawid
10/24/2012 17:32

I havent´t earned soo much with
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.
00
fanis
10/22/2012 18:37

I was going to put 500
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
00
Mirosaty
10/20/2012 07:00

Hello
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
00
faisal
10/04/2012 15:33

brother plz tell me im going
brother plz tell me im going to invest in binary is it scam brother
00
Mike
10/03/2012 01:32

XPMarkets is another scam
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!
00
vernetta
09/24/2012 05:14

I made two successful trades on
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 thatsucks.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.
00
RAFIK ALOUANE
09/22/2012 18:52

I TOTALLY AGREE WITH THE REVIEW
I TOTALLY AGREE WITH THE REVIEW FROM OTHER TRADERS. THE RATES ARE MANIPULATED IT SAYS “OUR RATE ” THEREFORE ITS NOT YOUR STRIKE ITS THE RATE THEY WANT YOU TO BUY . THEIR RATE IS AT LEAST 20 PIPS ABOVE OR BELLOW THE CURRENT PRICE OF THE MARKET(REUTER) NEEDLESS TO SAY THEY WANT YOU TO LOSE AND WANT YOU TO PUT MORE MONEY AND HARASSING YOU WITH BONUSES.WHEN I FOUND OUT THAT BIG SCAM I TRIED TO WITHDRAW MY MONEY AND THEY ARE DOING THE BEST THEY CAN TO KEEP IT AS LONG AS POSSIBLE FOR THEMSELVES . ITS BEEN OVER A MONTH NOW … I DONT RECOMMEND THIS BROKER FOR ANY TRADER…STAY AWAY FROM THEM . RAFIK FROM FRANCE
00
Tenovee
09/07/2012 21:52

BO Capital and OptionBit are the
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!!!
00
waqas
08/10/2012 19:26

i researched hours and hours
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
00
jose
07/31/2012 17:15

I started with Optiobit with 100
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.
00
Matt
07/26/2012 23:20

Was anyone able to withdraw their
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.
00
- MikeOscar
  01/09/2013 18:59
  
  Have you been paid to date
  Have you been paid to date? The withdrawals, did they go through?
  00
Joanne
07/24/2012 10:33

Have been trading with Optionbit for
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.
00
- Lionel
  02/16/2015 19:05
  
  I registered with different binary brokers
  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?
  00
Susan Baldwin
06/14/2012 17:54

Hi
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!
00
Jimmy
05/29/2012 16:29

Another rip-off to avoid is VIP
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!!
00
StratocasterMan
05/24/2012 23:50

Initially
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!
00
Han from Holland
05/15/2012 22:29

Think they are scam
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.
00
Scammed By OptionBit
05/07/2012 13:21

Please be careful about Optionbit
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.
00
Scammed trader
01/16/2012 01:10

Be very careful with this platform
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.
00
- warren
  11/28/2012 18:27
  
  I have had an account for
  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.
  00