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OptionBlitz is an anonymous binary options broker. The original place of registration and operation is not disclosed at the company's website.
OptionBlitz accepts clients from all over the world.
Binary options broker offers the following underlying assets for trading.
| 4 Currency Pairs | Based on major world currencies. |
| 2 Crypto BOs | Based on Bitcoin and Ethereum. |
| 2 Metal BOs | Based on Gold and Silver. |
OptionBlitz is an unregulated options broker and trading platform with no known registered business address. The broker appears to operate entirely online, and refers to itself as a “decentralized options and social trading platform.”
The broker supports trading in many different types of options, including binary options, barrier options, American options, European options and so-called turbo options. Besides options, crypto-based perpetual futures contracts (futures contracts with no expiration) are also available here.
The broker allows essentially anyone to join in as users, and there are no know-your-customer (KYC) or ID verification requirements to go through.
It's worth noting that binary options are banned in many countries and regions around the world, including in the EU, UK and Australia. Traders should therefore be aware that OptionBlitz operates in a legal and regulatory gray area, which means that there are few protections in place in case the broker for example goes out of business.
One thing that differentiates OptionBlitz from other options brokers we have reviewed here on FX-List is that it brands itself as decentralized and built on blockchain technology. Specifically, OptionBlitz has used network infrastructure powered by Arbitrum, which is a fast second layer network built on top of the Ethereum blockchain.
The platform OptionBlitz has built has been audited for security purposes by the recognized blockchain auditing firm Certik, which is definitely a good sign.
In terms of underlying assets that can be traded on OptionBlitz, the selection is fairly small. At the time of writing, only four forex pairs, Bitcoin (BTC), Ethereum (ETH), gold and silver were offered.
In addition to trading, OptionBlitz also offers what is known in crypto as staking. The way this works with OptionBlitz is that users can deposit an amount of the stablecoin USDC either by itself or in combination with the broker's own BLX token, and earn a share of the broker's profits in return.
To get funding and start trading with OptionBlitz, all a trader needs to do is to connect an external digital wallet such as MetaMask to the OptionBlitz platform and follow the instructions from there. Alternatively, users can also sign in simply with their Google account, and OptionBlitz will then set up a dedicated digital wallet that the user can fund with crypto from another wallet he or she controls.
All deposits should be made with USDC, and traders who don't already hold USDC can buy some by using a credit card or making a bank transfer.
We are happy to see that OptionBlitz seems to have a responsive support team that can easily be reached via a Discord channel and a Telegram group. The Telegram group had around 1,150 members at the time of writing, and the broker regularly posts relevant updates in the group chat about things like site maintenance, trading fee changes, and more.
Unfortunately, any phone numbers and physical office addresses remain undisclosed.
In conclusion, we want to emphasize that OptionBlitz is completely unregulated, and that offering such a trading platform may even be illegal in some jurisdictions. With that said, however, the platform is interesting and provides many opportunities for people who want to trade options on a crypto-native platform.
It's in our view great to see that everything can be set up using stablecoins and without going through banks, and we also like that the platform is open for users regardless of where they come from.
Doing a great job. Would like to see more trading instruments though.
