Menu
Sister Sites

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

ECN && STP && Scalping && Hedging - Broker Review - Oct 2009 24 replies

VennD - Any Pairs - Any Style - Any Time 740 replies

Are there any daily/weekly touch option brokers? 0 replies

E-mini S&P500 futures - buy underlying & put option 14 replies

64 bit XP - any advantage? 14 replies

Any Options, Bull Options & Option Bit

  • Post #1
  • Quote
  • First Post: Mar 30, 2011 4:28pm Mar 30, 2011 4:28pm
Has anyone been trading with these binary options brokers? If so, what has your experience been like thus far?
Binary Options Trader
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
Quoting Yoda_Glenn
I signed up with Bull Option....
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
  • Quote
  • Edited Apr 4, 2011 4:06pm Apr 3, 2011 6:22pm | Edited Apr 4, 2011 4:06pm
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.
"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
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
Quoting Yoda_Glenn
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.
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.
Quoting SatchFan
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.
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
Quoting Yoda_Glenn
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.
What company was that with?
Bull Option, but Bull Option and Any Option are basically the same thing.
Binary Options Trader
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
Quoting Yoda_Glenn
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.
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.
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
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
The withdraw (money) from Option Bit is actually back in my bank account now.
Binary Options Trader
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!
Quoting mksmith31
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!
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
I have not seen a profit. I'm trying now the platform "optionbit" I think reliable. I'll tell how it is ..
Quoting jamies2011
I have not seen a profit. I'm trying now the platform "optionbit" I think reliable. I'll tell how it is ..
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.
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 .
0 traders viewing now