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I have a conversation with a guy from OptionBit and he told me that to open a live account I have to send them a government issued photo ID, utility bill with my name and address as well as a copy of the credit card I used to fund my account. It looks very suspicious for me to give so detailed information about myself. What do you think? Is that a normal practice?
Hi supertrader, It is normal practice in most of the binary option brokers. It really looks suspicious to give them your card image, but they allow you to hide the last several numbers for your secure. I am also not sure why they ask about it, as most of the forex brokers didn’t ask for that information.
Stay away from them. When I started a wining strike they manipulated the rates and it could be as far as 20 pips from the real price of the market as you can see on the Reuters. This way you could not win at all. Also their Tradologic platform is awful. You could see only one asset at a time and to switch between two assets take you the whole time in the universe. I withdrew everything from them after two crazy weeks, they tried everything to prevent me go away. Now I am happy trading with 24Option, but that’s other storry.
I haven’t tried trading yet. I’m still arming myself with information before venturing out on my own. I tried creating several demo accounts though. Most of the sites I tried I found good customer reviews and sentiments from binary option broker optionbit. Here is the site http://optionbitsreview.com that I was talking about. There are informative articles, trading guides and blog posts that gives out relevant info on binary options. I think I might be ready to trade in no time.
I'm having a problem with OptionBit bonus.
I wish I read your articles about bonus before I put my money in them.
I made a deposit of 1000$ and they gave me 75% of bonus, so I had in my account 1750$.
The operator of optionbit was always calling me to invest more and more money, to take the risk, it was the only way to make money.
I made some wins but then I lost money, and I ended with $700 in my account.
I made some research and I decided to change for a better broker, I didn't like the methods they encourage to use and didn't feel very secure with a broker that is not regulated, and after reading some comments in bots, I was even more decided to change.
But now that I decided to change (I've already made the needed volume to withdraw), they say I can only widthdraw around 150$.
According to their numbers:
Current balance: 900$
Losses: Total - Current Balance = -850$
My money: Deposit - Losses = 150$
What kind of bonus is this? I really don't understand...
This is not a bonus, but a loan of money.
And I've read all the conditions of the bonus and they say nothing about this, they only say that you need to buy options 15 times the amount of bonus in order to withdraw the bonus, and the bonus is only for trading purposes, you can't withdraw it.
And before I put money in them I've asked them some questions, like if I could withdraw the money I put, before I made the needed volume, and they say yes, that's not a problem. But in all the times I've talked to them, they never refer this situation...
I've read in some articles and some posts of the forum, that this is not necessarily a scam, but I don't understand why... If they offer me a bonus to give a boost in my investments as a beginner, but in the end, the losses I have with the bonus are decremented from the money I deposit, this is not a bonus, it's a scam, it's a way of defrauding... For me, it's definitely not a bonus...
OptionBit’s trading platform has a wide array of tools and resources useful for binary option trading. Their trading platform is user friendly and also offers a “My Trades” box that indicates trades that are open. The sad part about OptionBit is that they don’t offer any money back for those trades that are out of the money.