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OptionBit.com (Novox Capital Ltd) Review Visit site

Updated: Jul 20, 2018
1.086 · 10 REVIEWS
Is this your company?
October 2016:  There is an FPA Traders Court guilty vote against this company.  The FPA recommends caution dealing wth OptionBit until this issue is resolved.

Related websites include optionstars.com, optionmerchants.com, and ftvtrade.com

OptionBit.com (Novox Capital Ltd)

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Case IDFiledCase nameVerdict
2016-1732016-10-12Moraks vs optionbit.comguilty

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1.086 · 10 REVIEWS
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dunebug81,
Verona, Italy,
Feb 17, 2017,
Registered user

I had to listen to those who were telling "optionbit is a scam". Here is the official communication from CySEC on 15.02.2017, Optionbit has been fined for €175,000: http://www.cysec.gov.cy/CMSPages/GetFile.aspx?guid=d282838e-bfbd-4794-8462-3796f5fd3b65, and the article on financemagnates.com that better explain the reason behind the fine: http://www.financemagnates.com/binary-options/brokers/184990/.

It seems also they are trying to shift the name from Optionbit to Optiondot, check optiondot.com and you will see (you can see "optionbit" everywhere but the name now is different).
Moraks,
Malaysia,
Oct 12, 2016,
Registered user

Optionbit are scammers

Issue escalated to Traders Court Moraks vs optionbit.com | GUILTY
I have been trading with this broker and I started with a deposit amount of $400. They tried to trick me into a bonus deal as a bonus of $120 was added to my account without even mentioning it to me. Immediately I noticed, i made sure i didnt take any trade until the bonus was removed and I told them that I do not want any bonus in future.

I have been able to build my account to $4024. Then without my authorization, a bonus amount of $500 was added to my account again. I was really shocked and amazed by this action from this broker. I sent an email to them to remove the bonus which they did the same day but they placed restriction on my account and made sure that I could not make any withdrawal.

I spoke with account manager named Adam Jones and he kept saying that I accepted bonus even though I have emails from them acknowledging that I refused their offers. He said I needed to reach a trade volume of $26000 (I had already traded a volume of about $20950). Unknown to me, they made sure that my account became restricted and I could no longer place turbo trade with any amount greater than $10.

He kept insisting that I used Digital strategies ( trades with expiry time). I tried checking it out and I noticed that the price of the market has been manipulated and there was no way I could trade without incurring losses. I have attached screenshots of two different accounts (my account and a new account that i signed up again. You will be able to see that the market has been manipulated and set so that I would always lose my trades.You will be able to see that the expiry time on the two accounts are the same but the market price is very different ( about 40 pips difference)

I then tried to take a $10 trade using the Digital and of course I lost the trade because the price is manipulated already. I am currently trying to terminate my account and withdraw my funds but am not getting any response from them
Cindy,
Utrect, Netherlands,
May 10, 2016,
Guest

I just found out there is a large pipdifference on their platform. I made a printcreen of it. I had a position open which indicated current price. As it was in loss, I wanted to put a turbo in. I found out that the actual rate on the turbo, had a 20 p difference with the actual rate on the open position. I refreshed several time to see, if it would be gone, but still there after the 3rd refresh. What can I say more...
DoloresM,
, South Africa,
Apr 11, 2016,
Guest

I cannot get my winnings from them and they cleared my trading amount to zero although I have app $2514 in my trading account. I have tried to communicate with them on numerous occasion with no success and hope you could convince them to send me my hard earn winnings please, Thanks DoloresM

Review Moderation Team Note: Please create an FPA Forums Account and open a thread for your issue in the Scam Alerts folder.
Barry,
, South Africa,
Sep 4, 2015,
Guest

This is a real scam. The force you to deposit and tell you that they will give you VIP trades and then they tell you what to do and all the trades is loosing trades. Bunch of scammers. Any idea how to get my money back
Hayder,
Sharjah, United Arab Emirates,
Jul 9, 2015,
Guest

Scam, stay away from them. I have an account at Optionstars. While i request an withdrawing. This Broker company don't allow me to do it and today i found that my account manager make many trade within one hour just to lose my money. I have the prove with me now. Thank You. PLEASE DON'T DEAL ANY WITH THIS COMPANY !!
Optionstars.com is owned and operated by Novox Capital Ltd, a Cyprus Investment Firm (“CIF”).
Reply by Yann Cannesson submitted Oct 13, 2015:
Hello Hayder, I'm Yann the representative of optionbit.com Optionstars.com and optionbit.com are 2 different companies. We have no link with them at all. Regards
Nguyen,
Sai Gon, Viet Nam,
Apr 21, 2015,
Guest

I'm a victim of the Optionbit. anyone can help me to get my money back?
I have funded 500AUD and claim 150% bonus (the bonus is not redeemable). After 2 very success trading, my account balance was 6990 AUD, and the turnover I have traded fulfilled the requirement for withdraw fund. I have submitted a withdrawal request for 6950 AUD, but they decided to close my trading account and transferred 3048.6 AUD to my Netteler account only.
They told me that I have used abusive trading patterns, so they took almost 4000 AUD from my account.
I have never used abusive trading patterns (never use any kind of robots, trading systems) as they told me. I have sent them emails to give me proof of using abusive trading patterns, but they never reply to me.
Please help me to get my money back from them
Thank you
Nguyen
rafat,
amman, Jordan,
Sep 6, 2014,
Guest

i had ba experment is my acount maneger adviced me som wrong posttions which leads me to be losing all my cash over 2.000 thousend usd in less than one week
Henrik,
Stockholm, Sweden,
Jul 4, 2013,
Guest

3 months have now passed and I have not received my fund yet, they are now complaining about bank details etc even though I know I have provided them with the correct details (I had my bank do it for me).

2013-04-17 1Star After having issued my thoughts on their client behaviour I have noticed some serious problems with the platform, I am now in trouble opening trades and when I am able to trade with them, trades dissapear from my trade window then to reappear long after they have expired etc.

They have also removed the Bonus I received from them without any possibilites of getting it back and am now forced to round turn 3000 USD in order to receive any of the profits I have made trading with them.

This has really been a lesson learned not to trust an unknown company with my money.

2013-04-10 1Star Their website might give an impression of a serious company but trust me once you want to make a withdrawal the trouble starts.

They basically force you round turn a huge amount of money if you want to withdraw any profits if you dont meet their requirements of minimum round turns they wont let you withdraw any gains you have made on your account.

Stay away from them!
Reply by Yann Cannesson submitted Oct 13, 2015:
Hello Henrik. It seems that you play with bonuses. When you play with bonuses you indeed have to meet the requirements of minimum round turns to withdraw, however you can play without bonuses and it seems to be the option that can suits you fine. Regards
Dawid,
, Germany,
Jan 20, 2012,
Guest

Optionbit is great binary options Broker. You get 75 % - 81 % payout and can trade Forex, Stocks etc.

Optionbit have great support and I made Deposit with Bankwire and after 3 days I could beginn Trading. The Plattform is very easy to use.