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Any Options, Bull Options & Option Bit

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  • Post #1
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  • First Post: Mar 30, 2011 4:28pm Mar 30, 2011 4:28pm
  •  Yoda_Glenn
  • Joined Sep 2006 | Status: Member | 378 Posts
Has anyone been trading with these binary options brokers? If so, what has your experience been like thus far?
Binary Options Trader
  • Post #2
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  • Apr 3, 2011 3:25pm Apr 3, 2011 3:25pm
  •  Yoda_Glenn
  • Joined Sep 2006 | Status: Member | 378 Posts
I signed up with Bull Option. So far, so amazing. I like it. I can't vouch for the legitimacy of this broker, but I can say that their options are superior to Nadex Options. For one thing, there are no pre-set strike prices like with Nadex and IG markets. YOUR ENTRY PRICE IS THE STRIKE PRICE. The other difference is that you can EXTEND THE TIME FRAME OF YOUR CONTRACT, if, for example, you feel the price is going against you. The cost to trade is not as good as Nadex, though, as you basically have to give up 19% of your profits to them. Where as Nadex they just charge you something like....a dollar per contract entry and a dollar per contract exit (or something like that, I am probably off with the pricing.) Still, I am pretty excited about the idea of creating a binary contract at any entry price that I want to get in at. I'll keep you all posted...

PS. Bull Option and Option Bit all hail from a company/service called TradeOLogic.
Binary Options Trader
 
 
  • Post #3
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  • Apr 3, 2011 5:13pm Apr 3, 2011 5:13pm
  •  SatchFan
  • | Joined Feb 2011 | Status: Flying In A Blue Dream | 493 Posts
Quoting Yoda_Glenn
Disliked
I signed up with Bull Option....
Ignored
Hey Yoda,
I've been considering opening a Binary Options account and looking at different sites. The one I'm looking hard at now is OptionsFair.com because they have 11 currencies. Most of the others have 9 or less. Also, they have One Touch and Boundary Options too. I'm thinking the boundary options would be good for range bound markets. Anyway, I'll let you know if I ever decide to open an account and where I've opened one up at.

Peace,
SatchFan
 
 
  • Post #4
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  • Edited Apr 4, 2011 4:06pm Apr 3, 2011 6:22pm | Edited Apr 4, 2011 4:06pm
  •  traderjai_inhi
  • | Joined Jul 2006 | Status: I'm just saying... | 1,153 Posts
These are the type of sites I initially found when looking for binary option trading (I think we PMed about it a bit). The part that put me off on these sites is that quite a few would not allow US traders. I ended up using a proxy server to open a demo account just to see what it was all about but they wouldnt let me open a live. It is good that you found some that will allow US traders but the problem I see is where they are registered, Seychelles, Cyprus... places with nefarious finacial regulation track records.

Im sure you dont need a warning Yoda, but anyone else might be a bit wary of them and only deposit a small amount with them. I would be interested to know how quickly you receive any withdrawals. I spent the weekend reading over another thread over here and they had a few recommendations for brokers as well. It isnt necessary to read the whole thread if you know all about binaries but I found it interesting, especially the guy that started 6 months ago and set up a signal service and the cherry coke chick that was making $500-1500 a day and then up and disappeared.

Anyways, I do like these type of binaries over nadex, I think it would fit better with my strategies I use but again it is the regulation that I like in nadex over some offshore seychelles llc.
 
 
  • Post #5
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  • Apr 4, 2011 12:32am Apr 4, 2011 12:32am
  •  Yoda_Glenn
  • Joined Sep 2006 | Status: Member | 378 Posts
"Anyways, I do like these type of binaries over nadex, I think it would fit better with my strategies I use but again it is the regulation that I like in nadex over some offshore seychelles llc."

I agree. I approach with caution. It's a shame that this type of trading is not going on in the US.
Binary Options Trader
 
 
  • Post #6
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  • Apr 17, 2011 5:45pm Apr 17, 2011 5:45pm
  •  Yoda_Glenn
  • Joined Sep 2006 | Status: Member | 378 Posts
As my instincts were telling me, these companies are complete scams.

BULL OPTION AND OPTION BIT will not allow you to get your money back unless you do some ridiculous amount of transactions first. Good thing I only put down like $200 bucks between the two accounts.

STAY AWAY FROM THESE BUCKET SHOPS.

Stick With NADEX for Binaries.
Binary Options Trader
 
 
  • Post #7
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  • Apr 17, 2011 6:21pm Apr 17, 2011 6:21pm
  •  SatchFan
  • | Joined Feb 2011 | Status: Flying In A Blue Dream | 493 Posts
Quoting Yoda_Glenn
Disliked
As my instincts were telling me, these companies are complete scams.

BULL OPTION AND OPTION BIT will not allow you to get your money back unless you do some ridiculous amount of transactions first. Good thing I only put down like $200 bucks between the two accounts.

STAY AWAY FROM THESE BUCKET SHOPS.

Stick With NADEX for Binaries.
Ignored
I think that is for getting their bonus money. In order to withdraw what they put in as a bonus, you have to do quite a bit of trading first. Your able to withdraw YOUR money at any time. You just can't withdraw the "Bonus" money until you have met their requirements for amount of trades, etc.
 
 
  • Post #8
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  • Apr 17, 2011 6:47pm Apr 17, 2011 6:47pm
  •  Yoda_Glenn
  • Joined Sep 2006 | Status: Member | 378 Posts
Quoting SatchFan
Disliked
I think that is for getting their bonus money. In order to withdraw what they put in as a bonus, you have to do quite a bit of trading first. Your able to withdraw YOUR money at any time. You just can't withdraw the "Bonus" money until you have met their requirements for amount of trades, etc.
Ignored
I never signed up to get their bonus money or enter into their competitions.

I deposited $150 bucks and they told me that I needed to build my account up to $1650. to get any funds out.
Binary Options Trader
 
 
  • Post #9
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  • Apr 17, 2011 7:00pm Apr 17, 2011 7:00pm
  •  GulfCoastPip
  • Joined Jan 2008 | Status: I'll Take Your Pips | 1,338 Posts
Quoting Yoda_Glenn
Disliked
I never signed up to get their bonus money or enter into their competitions.

I deposited $150 bucks and they told me that I needed to build my account up to $1650. to get any funds out.
Ignored
What company was that with?
 
 
  • Post #10
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  • Apr 17, 2011 7:14pm Apr 17, 2011 7:14pm
  •  Yoda_Glenn
  • Joined Sep 2006 | Status: Member | 378 Posts
Bull Option, but Bull Option and Any Option are basically the same thing.
Binary Options Trader
 
 
  • Post #11
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  • Apr 18, 2011 11:01am Apr 18, 2011 11:01am
  •  Yoda_Glenn
  • Joined Sep 2006 | Status: Member | 378 Posts
Well, it looks like OPTION BIT is giving me my money back. It's not a lot of money, but it's the principle. If the money actually gets back on my card, I'll let everyone know.
Binary Options Trader
 
 
  • Post #12
  • Quote
  • Apr 18, 2011 1:31pm Apr 18, 2011 1:31pm
  •  GulfCoastPip
  • Joined Jan 2008 | Status: I'll Take Your Pips | 1,338 Posts
Quoting Yoda_Glenn
Disliked
Well, it looks like OPTION BIT is giving me my money back. It's not a lot of money, but it's the principle. If the money actually gets back on my card, I'll let everyone know.
Ignored
So with OptionBit you have to have $1650 in your account before you can make a withdrawal? Is that correct? I ask because in your last few posts you mention a couple of different companies.

Thanks.
 
 
  • Post #13
  • Quote
  • Apr 18, 2011 8:11pm Apr 18, 2011 8:11pm
  •  Yoda_Glenn
  • Joined Sep 2006 | Status: Member | 378 Posts
According to BULL OPTION, with my deposit of $150, I would have to trade my account up to $1,600 before I could withdrawal a single dime.

OPTION BIT has my withdrawal request as "In Process," where as BULL OPTION had my withdrawal request as "rejected." After seeing this "rejected" label on the withdrawal request, I then contacted BULL OPTION and they informed me that I couldn't get my money out.
Binary Options Trader
 
 
  • Post #14
  • Quote
  • Apr 21, 2011 5:24pm Apr 21, 2011 5:24pm
  •  Yoda_Glenn
  • Joined Sep 2006 | Status: Member | 378 Posts
To OPTION BIT'S CREDIT:

Dear (Me,)
TYour Credit Card Refund request for the amount of $ 178.91 on 4/17/2011 8:14:51 PM has been approved.
You should receive the funds back to your card within 14 business days.

http://www.optionbit.com

Sincerely,
The OptionBit Team


I'm still gonna stick with NADEX, though.
Binary Options Trader
 
 
  • Post #15
  • Quote
  • Apr 28, 2011 5:37am Apr 28, 2011 5:37am
  •  Yoda_Glenn
  • Joined Sep 2006 | Status: Member | 378 Posts
The withdraw (money) from Option Bit is actually back in my bank account now.
Binary Options Trader
 
 
  • Post #16
  • Quote
  • Jun 6, 2011 10:49am Jun 6, 2011 10:49am
  •  mksmith31
  • | Joined May 2011 | Status: Member | 47 Posts
Has anyone actually received profits from Bull Option? I have completed the ridiculous amount of trading volume and now they say there is a "bank issue" and they cannot send wire transfers. They sent me my initial deposit of $500 within 4 days but it has now been 35 days and I keep getting the brush off. Has anyone actually received their profits? Thanks!
 
 
  • Post #17
  • Quote
  • Jun 7, 2011 10:14am Jun 7, 2011 10:14am
  •  Yoda_Glenn
  • Joined Sep 2006 | Status: Member | 378 Posts
Quoting mksmith31
Disliked
Has anyone actually received profits from Bull Option? I have completed the ridiculous amount of trading volume and now they say there is a "bank issue" and they cannot send wire transfers. They sent me my initial deposit of $500 within 4 days but it has now been 35 days and I keep getting the brush off. Has anyone actually received their profits? Thanks!
Ignored
They're a scam, don't count on getting your money back. Nadex is the only legit Binary Options dealer I know of for US clients, stick with them.
Binary Options Trader
 
 
  • Post #18
  • Quote
  • Jun 9, 2011 10:46am Jun 9, 2011 10:46am
  •  jamies2011
  • | Joined May 2011 | Status: Member | 7 Posts
I have not seen a profit. I'm trying now the platform "optionbit" I think reliable. I'll tell how it is ..
 
 
  • Post #19
  • Quote
  • Jun 9, 2011 3:15pm Jun 9, 2011 3:15pm
  •  Brian_b
  • | Joined Jun 2011 | Status: Junior Member | 2 Posts
Quoting jamies2011
Disliked
I have not seen a profit. I'm trying now the platform "optionbit" I think reliable. I'll tell how it is ..
Ignored
Do tell, I heard this platform really easy to use, I also want to start using it but I'll wait until you tell me from your experience.
 
 
  • Post #20
  • Quote
  • Jun 10, 2011 8:20am Jun 10, 2011 8:20am
  •  mksmith31
  • | Joined May 2011 | Status: Member | 47 Posts
I have used Optionbit. The platform is pretty reliable until you are successful. I grew my account from $500 to $3000 and then suddenly there was a 3+ point spread on my pair (EUR/USD). Meaning it would show 1.4555 and you click "call" and it would let you set your strike at 1.4560. Their support had no clue what I was talking about but I got screenshots to prove it. I forwarded them to the support and they said they would resolve it, but never did. I ended up getting frustrated and basically gambled it away (exactly what they wanted). All in all pretty good platform but don't be surprised that if you are successful, they will modify your strikes. They are allowed to modify their prices they offer, it just makes it really hard to trade successfully. If you want to see the screen shot proof contact me, I don't have anything to hide. I just want everyone to be informed so they don't make the same mistakes I did .
 
 
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