OptionBit FAQ – Fast Answers but Still Not a Polished Communication

5 Questions by BOTS.com, OptionBit Live Chat Support Representative Answers


“Lara B: Welcome to our platform. How may I assist you?”


1. What Makes OptionBit Different Than Other Brokers?

“…We offer a signal program which no other platform offers called Algobit. It’s free of charge to traders that trade with us… Our bonus program is also very good, with the lowest trading requirements compared to our competitors…Our withdrawal are processed swiftly… We are a regulated by CySec platform, which gives you much more security…”



2. What Binary Options Trading Education OptionBit Offers For Newbies?

“…We do offer a training program for any client that starts with a deposit of $1000 or more…Well he will teach you how to trade, he won’t actually place any trades on your behalf…”



3. Is there any bonus program for new clients on OptionBit? How big is the bonus wager?

“…Yes we have…The bonus amount that you received multiplied by 15.  …”



4. What Documents Do I Need To Provide In Order To Withdraw? And How Much Time Will It Take To Receive My Profits?

“… You need to send a copy of your ID, proof of address, and if you used a credit card, the front and back copy of that… The withdrawal processing time takes between 7-12 business days. The company takes about 4 business days to complete the process. Once the process has been complete, it takes 5-7 business days for a credit card withdrawal, and, 7-10 business days for a bank withdrawal…”



5. Can I Open A Demo Account On OptionBit?

“… We offer a demo account for one day….”



My Overall Impression on OptionBit

The OptionBit chat was good. The answers were fast and accurate, but sometimes too short and not explaining in-depth all the aspects of the questions.  The good news is that OptionBit is regulated by CySec, but that is only the first step toward moving to the list of trusted brokers with high reputation. They have to invest much more in their education and their customer support before pretending to be among the top brokers. For now they are a little bit above the average.


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