Binary options are prohibited in the European Economic Area. Between 74-89 % of retail investor accounts lose money when trading CFDs.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Binary Options are prohibited in EEA

Magnum Options Broker Review 2019

  • Min. Deposit $200
  • Min. Invest $5
  • Return 81%

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.    

 

Magnum Options

Magnum Options Trading Software

As already mentioned in the beginning of our Magnum Options review, this broker has integrated a well-known binary options platform – SpotOption. SpotOption platform is empowered with advanced technology and the latest generation of binary options trading services. Traders that have experienced trading with this platform already know what to expect for it.

Magnum Options offers a variety of trading options and it is no surprise that traders like to trade with a broker that offers many options for its clients. Magnum Options trading interface enables trading with traditional binary options, turbo options/60 seconds and long term options. In Magnum Options review, we have been informed that this broker allows super fast trading for smaller investment amounts. In addition to that, Magnum Options also provides trading with high yield options, trading with Pairs, OneTouch, and Ladder.

Traders are welcome to trade with more than 150 underlying assets that include both indices, stocks, commodities and currency pairs. We like the fact that traders can choose between various trading assets and in this way diversify their trading strategy.       

Magnum Options Support Information

Having a quality customer support service is vital for some traders. Especially for beginners who require assistance in their first trading steps. There are always ways to get started which could be done smoothly if the broker provides a support team that can help traders while trading.

Magnum Options is a binary broker which has a customer support available 24 hours a day, seven days a week. Magnum Options is available via live chat. They also provide a contact form where you can express if you have any inquiries regarding trading, technical support and more. They provide international support numbers for North America/Canada and for the United Kingdom, and email information where traders can contact them.    

Other than the customer support team, Magnum Options also provides educational materials database on their website accessible to all traders who want to learn more or simply know more. They have beginner and advanced course along with a trading e-book and in-depth courses for all traders willing to know more about this type of financial investment.

Magnum Options

Magnum Options Company Information

Magnum Options has been providing binary options trading services since 2010. They have a SpotOption trading platform and a minimum deposit amount of $200. Magnum Options requires from traders to provide the necessary identification in order to complete the first deposit and request for withdrawals later on while trading. This protects the trader and the broker’s interests as it should ensure that both parties and their accounts remain protected.   

For all Magnum Options traders, this broker uses the best-known security system – Secure Sockets Layer (SSL) for all credit card transactions. When traders make a deposit, they can do it with credit cards (Visa and MasterCard), wire transfer, debit cards and Neteller.

Regarding withdrawals, Magnet Options takes up to 4 days to process a withdrawal after it’s been submitted. When the broker approves the withdrawal, it can take from 5 to 7 business days to put the funds to the trader’s account. Magnet Options allows once a month one free wire transfer withdrawal. For additional wire transfer for withdrawals in one month, there is a $30 processing fee.  

Magnum Options - Review Conclusion

  • One free wire transfer withdrawal per month
  • Not regulated