Magnum Options Review
Magnum Options is one of the best binary options trading platforms in the industry. Established in April of 2013, the Magnum Options platform offers a wide variety of currencies, stocks, commodities, and indices. Magnum Options is recommended for traders of all types. The platform is user-friendly and is suitable for both beginner traders and advanced traders alike. Magnum Options posts an address in Gibraltar but has a toll free telephone number to Canada and the U.S. and a toll free number to England.
There is no mention of a selection of different accounts to choose from at Magnum Options so I assume there is only a standard account. There is a minimum deposit of $200 and the maximum deposit is 100,000 yen or $1,000. Although the Magnum Options website indicated a maximum payout of 81%, when doing this Magnum Options review, I noticed that on certain EUR/USA trades traders can make up to 170%.
Anyone signing up as a member is assigned an account manager. These account managers are experts in the field and are available to assist traders with any query or difficulty they may encounter during the registration period and afterwards during the trading and execution periods.
Unlike many binary options brokers, U.S. traders are allowed to open accounts and trade at Magnum Options.
Magnum Options offers over 150 tradable assets. Magnum Options offers traders indices (e.g. NASDAQ), stocks (e.g. IBM), commodities (e.g. Oil) or currency pairs (e.g. EUR/USD) to choose from. A trader can choose multiple assets to trade at the same time.
Binary options assets are available at all different time frames, allowing traders to trade almost 24/7. There is always an expiration time nearing a close, which constantly yields new opportunities for binary traders.
The broker offers several interesting features including controlled risk whereby the percentage of risk and reward is known from the moment a trade is placed.
For a profitable trade to take place there is only the need for the price to close “in-the-money” and the winning trade will receive the entire payoff, even if was ‘right’ by a single pip.
The Magnum Options website is simple to use. All a trader needs to do is click the CALL/PUT buttons to make his trade. There are hedging opportunities which is a safer option to take if a trader has an open position elsewhere in currency, stocks etc. Utilizing a binary option can eliminate a further loss elsewhere.
A special feature of Magnum Options is that 10% of the invested amount is paid back to the trader, even if the option expires out-of-the-money. This is a very unique benefit and enables traders to make the most profits possible. This fits in with the goal at Magnum Options which is to make binary options profitable for every one of their traders. It also reinforces the reputation gained by Magnum Options for its dependability and assistance to its account holders.
Education at Magnum Options is important and there are several introductory, advanced and in-depth courses offered to registered traders. There is a host of different videos which offer instruction for both beginners and advanced traders. Only bona fide account holders can view these videos.
Magnum Option Educational Videos
In addition there is a trading eBook available to traders at all levels.
Daily market news updates help keep traders informed about current financial events. The market news gives traders insight into which assets to trade and which assets are popular on any given day.
There was no deposit bonus at the time of this review or any other bonuses. However, there is also a Refer a Friend program, where users are rewarded with monetary compensation for referring their friends to Magnum Options. When there are bonuses, they are limited time offers and traders are required to execute trades to the value of thirty times their initial bonus funds.
Deposits and withdrawals can be done in the usual manners including credit cards, wire transfers and various payment programs. The minimum withdrawal amount is 100 EUR or 100 USD depending on the trading account currency; the maximum withdrawal amount is $20,000 via credit card. A customer’s first withdrawal of every month is free of charge. There is a $30 charge on every additional withdrawal.
Magnum Options offers dependable customer support 24/5 via phone, live chat or email. It has a toll free telephone number to Canada and the U.S. and a toll free number to the U.K.
Trading via MagnumOptions.com is available at any time, as long as the chosen asset is being traded in the relevant market. All their data is streamed live from our data provider, Thomson Reuters.
Traders at Magnum Options can choose between the Long Term, One Touch, Ladder and 60 Second trading options. The Pairs option should be available shortly. Trading times for all assets are displayed in GMT.
Magnum Options is a well-rounded binary options broker. Despite only one available trading account, traders are offered several different options, some with high payouts. The website is attractive and easy to navigate and the trading experience promises to be pleasurable.
- High Payouts
- Sleek Web Design
- No Demo Account
- No Regulation
- Available in English only
Review info: Magnum Options
Review Date: 2015-08-12
Rating : 3.5
Reviewed By : Sara Patterson