Magnum Options Broker Review 2023
This broker is closed.
According to their official site, Magnum Options is one of the old binary options players that were established in early 2010. They focus on providing and creating a user-friendly experience with a variety of underlying assets to trade with. This broker has made a rebranding of its services. After the year 2013, they moved on to providing greater customer experience for their clients. This broker doesn’t support trading in the United States. For more information about what services Magnum Options offers, you can read the rest of our broker review.
Important facts about Magnum Options include information like having up to 81% returns and providing a mobile trading platform for traders on the go. Magnum Options minimum investment starts with only $5 and the minimum deposit is $200, which is the usually the average in the binary options industry. This broker provides great assortment of educational materials, professional customer support, and well-known SpotOption trading platform in the binary options trading community.
Magnum Options Account Features
We have found a lot of interesting features available with Magnum Options. It seems that traders find what they need when they trade with this broker. In our Magnum Options broker review, we have decided to point out facts that are important to know before trader registers and make the first deposit. Traders like to be properly informed about binary brokers and services they provide in order to decide trading with that particular broker.
Magnum Options is a binary broker that allows its services to many countries, excluding the US as we have mentioned earlier. Nowadays, it is crucial to provide services on a global level. The financial market is a global trading place where traders can build their wealth and invest their funds in various assets. We are all familiar with globalization and in this case, Magnum Options is an excellent example of a world known a brand that is available to thousands of traders around the world.
When traders decide to register with Magnum Options, the first thing they will be offered is a dedicated account manager that will follow their trading path and support them if they need some guidance. Magnum Options focuses on personalized customer support service and this is something that is described as “value for money”. Every trader likes to be treated like a VIP client and Magnum Options treats their clients exactly like that. The account manager is the direct connection with information and they can help traders when they are in doubt. Our Magnum Options review showed the same level of customer care because after opening a test account their account manager has contacted us and offered friendly support.
There is one more thing we have found out in our Magnum Options review and this is a small insurance offered by the broker. This means that if trader ends out of money, Magnum Options will reimburse 0%-10% of the initial investment that trader has deposited.
Magnum Options broker review has found out that traders are offered with several bonus promotions such as Refer a friend bonus, Cash promotions or One-time trading credits. Magnum Options has prepared very understandable and readable terms and conditions tab where traders can find all important facts about promotions and rewards that this broker offers. It is useful to know that Magnum Options bonuses have limits and traders have to reach certain trading volume in order to activate the promotion.
In our Magnum Options review, we have found that traders that have received certain bonus or reward can withdraw their funds only when they have reached at least 30,40 or 50 times the bonus trading volume. There is also one bonus, also known as the refund bonus, where trading volume has to reach at least 20 times of the bonus amount.
Unfortunately, we couldn’t retrieve the information about the bonus opportunities from Magnum Options customer support. In order to find the correct information about rewards and bonus policy, traders can ask their Magnum Options account manager since the customer support agents are apparently not educated about certain company regulations.