Optionbit / OPTIONBIT scam. They modify their rate to fit trend at their advantage
Review – OPTIONBIT scam. They modify their rate to fit trend at their advantage (Probably)
- Rate is over bid and ask price and much different than other brokers (which are quite (bid+ask)/2 (as they all say that’s their rate)
- They switch back to the correct rate ( (bid+ask)/2 ) when an option “Time to invest” is over and the interface switch to the next option expiry (It says in the interface a “Not available” for a few second, that is when they switch).
- They also switch to a better price (for them) after a big price movement, so if you buy a call and then the price when up, then, they switch to a rate under the ask and bam, Out of the money even if looking at the graph, the price is way up than it was when the option was bought.
- At expiry, What is seen for the asset (what we can buy) isn’t always the same as the expiry (Example. GBPUSD is at 1.60119 at 1:30 in the asset buying option display and the expiry is 1.60210, so if you buy at the same time of the expiry, you got 1.60119, shouldn’t that be the same value?
Want to have a look at it, open other broker and compare the price Optionbit is offering.