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Trade
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Past Expiries
Digital
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Touch
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Range
06 Feb
FAQ
GENERAL
What is this?
Optionbit.com is a binary option platform that allows traders to invest on different assets without incurring commission costs of going through a broker. You can trade on the performance of currencies, indexes, commodities and stocks at your own leisure from home, work, or anywhere else.
How do I make money from this?
By employing proper money management and trading strategies, you can maximize the profit you earn from the platform. Once you have a real-money account, you can schedule a time with your account manager so that you may personalize your trading strategy.
How do I open an account?
You can open an account easily by clicking big blue button on the homepage which says “Open new account”. You can access the trade screen by clicking “Trade”.
What does it cost?
There are no fees incurred with creating an account. To start trading for real money, you must make an investment into your account.
HOW TO TRADE
How long does a trade last?
Each trade lasts until the predetermined expiration time, you can see it on the list next to the asset name.
For most assets, there are multiple expiration times so that clients can pick which to enter.
How do I trade with Above/Below?
It is very simple to trade with Above/Below. You simple click “CALL or ABOVE” if you think the price will go higher than the price shown. If you are right, then you are “in the money” and you will get between 75% and 81% profit of your investment.
If you think the price will go lower than the price shown, then you simply click “PUT or BELOW”. If you are right, then you are “in the money” and you will get between 75% and 81% profit of your investment.
How do I trade with the Touch?
Trading with Touch is very easy. Optionbit shows you the current price. All you need to do is predict if you think the price will touch the target price within the expiration time.
If you think the price will touch the higher price, simply click on “TOUCH UP” button which shows the target.
If you think the price will touch the lower price, simply click on “TOUCH DOWN” button which shows the target.
If the price of the asset hits the target price before the expiry time, the option is closed and you are credited with earnings. You will receive up to 91% of your investment.
How do I trade with the Range?
You can place a range trade easily. Range trading gives you the option to predict if the price will finish in or out of the current range that it is trading in.
If you think the price will stay in its current range, click
IN.
If you think the price will finish out of its current range, click OUT.
The price at the time of expiry will determine the outcome of your trade.
When can I place a trade?
You can place a trade up to 5 minutes before expiry time for DIGITAL and TOUCH options. You can place a trade up to 20 minutes before expiry for RANGE options.
What are your trading hours?
You can trade on currencies 24 hours a day, US markets when they are open. On the weekend you can place WEEKEND TOUCH options which start on Friday and end Monday evening.
TRADING TOOLS
What is the close button?
You can close a trade when it is in the money to receive your initial investment back and some profit. Alternatively, you can close the trade when it is out of the money to receive some of your initial investment back. These are known in Forex as “Take profit” and “Stop loss”.
What does it cost to close?
When you close in the money, you can profit up to 30%.The profit is
based on how in the money you are as well as how much time you have left on your option, the volatility of the asset and the volume of the trade.
When you close out of the money, you will receive some of your initial investment back. This is anywhere from 0-80% of your initial investment.
Before the option is closed, the price that will be returned will be shown to you so that you know what is the premium to execute the close order.
Can I close an extend option?
Yes, you can close an extend option.
Can I extend and close trade with touch?
No. Extend and close is only for DIGITAL currency assets only.
What does it cost to extend?
To extend you will pay a premium of 5% - 50% and it is based on how far in or out of the money you are, how much time you have left on your option, the volatility of the asset and the volume of the trade. Before the option is closed or extended, the premium that you will pay will be shown to you so that you know how much you will pay for this feature.
When can I extend or close?
You can extend or close 5 minutes after you have opened a trade. You can also extend or close your option up to 10 minutes before your option expires.
How many times can I extend a trade?
You can extend as much as you want.
How long can I extend an option?
You can extend an option to a future expiry time. This will depend on the current options that are open for that asset and their expiry times.
What is Autotrade?
Autotrade allows the trader to plan a long-term strategy by having the trade, if it is a winning trade, open again with the entire amount returned as a new position in the same direction for the next expiry time. This type of trading allows traders to capitalize exponentially (up to 2,000%) on market trends.
SECURITY
Is your website secure?
Yes, we
use 128-bit SSL (Secure Socket Layer) Digital Encryption in order to protect all transactions over the Internet. This technology is the major security standard online, used by most of the major financial institutions.
How do I know my money is safe?
Traders funds are kept separate from company funds so exactly what is held by you is identifiable. Because of this, if anything were to happen, the traders can still be ensured that funds will be safely held.
INVESTMENTS
What is the minimum and maximum investment amount
?
The minimum investment amount is $100 (with no additional fees) the maximum investment amount per Credit Card transaction is $5,000.
It is not advisable to start with less than $500.
If you would like to invest higher amount we recommend doing it by wire transfer.
How can I fund my account?
You can fund your account simply by clicking on the deposit button and investing with your credit or debit card. If you would like to do a bank wire or western union transfer please contact us at
support@optionbit
.com or select that option on the deposit screen.
Can I choose what currency to open my account in?
Yes. When you are about to make your first deposit, you can chose between US Dollar, Euro, and Pound Sterling. Once you have made your choice and investment, your account will be in that currency. All trading limits will be based on that currency.
Do I get a bonus for investments?
Yes. You are eligible to
receive a bonus on your first investment starting at $500. Please contact our helpful support staff at
support@optionbit.com
or via the livechat.
Are there any fees for investments?
No. When you invest with Optionbit, we do not take any fees. You may have to check with your bank or your card provider if they charge any fees on top of currency exchanges.
WITHDRAWALS
How can I withdraw profit?
You can request a withdrawal in the cashier section of the website.
What is the minimum and maximum withdrawal amount?
The minimum amount to request for a withdrawal is $10 to credit card, $30 as bank transfer. You can withdraw as much as you have in your current balance.
Can I withdraw an active bonus?
No. When you have an active bonus you have to meet the trading requirement for that bonus and funds accrued to be withdrawable. You can contact our friendly support staff at
support@optionbit.com
with your queries as to your trading requirements.
What is needed to make a withdrawal?
You can make a withdrawal very easily with Optionbit. To comply with anti money laundering and credit card fraud laws, you may be required to send copy of a photo I.D., front and back copies of your credit card (with the middle numbers on the front and the 3 security numbers on the back blacked out), and copy of a utility or phone bill clearly showing your name and address.
What are the fees?
Optionbit.com does not charge commission on trades. When you wish to make a withdrawal, the first withdrawal per calendar month is free, with subsequent withdrawals costing $30.
How long does a withdrawal take?
Withdrawals are processed by our finance department within 24 hours of the request. Final receipt of funds back to the trader will be between 5-12 business days for regular accounts, and 3-5 business days for VIP accounts. To become a VIP account, please contact
support@optionbit.com
