Magnum Options Binary Option Broker Review

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UPDATE (12.02.2020):

We have found out that Magnum Options has shut down their operations.

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Old Review:

Magnum Options has experienced rapid growth since its launch in 2020, becoming one of the top binary options platforms in the industry. In reviewing Magnum Options, we were particularly impressed by the degree to which they went to put their traders’ interests at a premium.

Magnum Options is one of the only binary options brokers to offer not only a completely free account, but also a 10% return on trades which expire out-of-the-money. This means that traders are never left empty handed and get maximum value for their investments.

These perks are in addition to highly favorable financial incentives. These include substantial payout rates of up to 81% and a 100% bonus for deposits of $1,000 or more. Magnum Options’ customer care team is highly professional and well-qualified to deal with all queries and requests. The site is highly navigable and user-friendly, with a simple trading process. The platform’s ease of use is particularly appealing for those taking their first steps in binary options trading.

Basic information:

Online since: 2020
Jurisdiction: Gibraltar
Software: SpotOptions
Max Returns: 81%
Bonus: 100%
Minimum Deposit: $200
Minimum Investment: $10
Maximum Investment: $10,000
Currencies: USD, EUR, GBP, AUD;CAD
Mobile: Coming soon
Countries: All nations excl. USA

– High deposit bonuses
– Excellent returns
– User friendly interface
– Highly flexible investment amounts

– Most services only offered in English

7 Binary Options Rating:

Account types

Magnum Options offers 4 account packages, depending on the deposit invested. Each package varies in the features they offer and bonus amount rewarded.

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The Mini Account

Mini Account starts at $500 investments and entitles clients to a 20% bonus, free market reviews and a copy of Magnum Options’ comprehensive eBook. This account suits those testing the waters before upgrading to gain access to greater trading options.

The Standard package

The Standard package includes all the features offered in the Mini Account with additional tutorage in reading trading data and a bonus of 30% on their investment.

The Executive Account

Magnum Options also offers an Executive Account which gives its traders all the perks of a Standard Account in addition to expedited withdrawals, a personal account manager, academy membership and money management training. This package is perfect for traders who are relatively new to the field and are interested in earning sizable payouts.

The Gold Account

Gold Account holders gain full VIP Academy Membership for elite educational resources, same-day withdrawals, a dedicated account manager, 5 risk-free trades, 3 trading strategies and professional trading analysis to fine-tune their trading technique.

The Platinum Account

The Platinum Account is the most exclusive package available, providing traders with an unbelievable 100% bonus, unlimited trading strategies and direct contact with a personal senior account manager via phone, Skype and email. Platinum package holders also enjoy same-day withdrawals, trading signals (like in binary robots) and access to daily trading groups to ensure their investments yield maximal returns.

Screenshot

Assets

Magnum Options’ asset collection is highly diverse, with 150 tradable assets to choose from. It is also possible to trade in pairs, allowing investors to compare currencies like the USD/YEN or stocks such as Gold v Silver.

This adds greater interest to the trading experience, especially in the case of major corporations such as Google v Apple, where current events and news releases have a direct knock-on impact on share prices. We were particularly pleased with the range of asset options available and believe that all trading interests are thoroughly catered for.

Deposits and Withdrawals

Depositing funds and withdrawing profits is highly straightforward, with numerous options available for ease of use. Credit card users are spoiled for choice, as Magnum Options supports a wide range of brands, from the well-known favorites such as Visa and Mastercard to such less commonly accepted options including Diners Club and Amex.

Traders can deposit funds quickly and securely into their account in dollars, sterling and yen. While withdrawals can take up to 3 business days to process, traders receive a free withdrawal every single month.

Conclusion

Just like Banc de Binary, Magnum Options truly is a pleasure to trade with. With their excellent payout rates, substantial welcome bonuses and highly trained 24/7 customer care team, it’s no wonder traders have been flocking to sign up. If you’re looking for a trading platform which will give you more bang for your buck, you’re in safe hands with Magnum Options.

Additional information

Customer Service: Live Chat / Email: : [email protected]
Languages: English
Trading Options: Call / Put, Option Builder, One Touch, 60 sec, Sell back options
Assets: Currencies, Stocks, Indices, Commodities
Early close: Yes
Expiry Times: 60 sec, 15 min, 30 min, 1 hr, 24 hr+
Deposits and Withdrawals: Credit or debit card, Western Union, CashU, wire transfer
Withdrawal Time: 3 days
Demo account: Upon request

John Miller

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1 comment

Aw shucks, why did they close down??

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Magnum Options Review

Magnum options is the latest binary options brokerage to go under the Binary Today review. I’ve recently received some very positive emails from my trusted readers about this brokerage so I felt I would investigate myself and see if this broker is worth the high praise.

I have to say that I am very impressed with magnum so far and this review will inform of all the information you require in order to select a worthy brokerage.

Magnum Options Review

Like to start my reviews of binary options software and brokers like Magnum options with my personal take and experiences. One of the most important things to me in trading and life is how well that I’m treated. So far, in the time I spent with Magnum I’ve been treated very well.

By this I mean multiple things. The support team has been responsive and very reliable in handling any of the concerns and questions that I’ve asked them over the past few months. During this time they have also been quick to handle my withdrawal requests which is probably the most important thing to me when dealing with the brokerage.

I’ve heard way too many stories about traders that have to beg their broker to get a withdrawal and I’m happy to say that this doesn’t happen with Magnum options. At no point that I feel like my money was at risk what did I believe that my money would be held back from me.

Recently I’ve signed up with around 20 binary options brokers and I’ve really put them all to the test. Sometimes I fake issues and give them hard questions to try and find out which brokers I would be able to trust and the long-term. Magnum options prove themselves time and time again during these tests and have earned themselves a spot in the top binary options brokers.

Magnum Options Information

Now going to discuss some of the specifics so that you know if Magnum options can serve your needs. This broker was founded in 2020, except US traders and has 150 assets. The minimum deposit to get started is $200 and they do provide demo accounts when requested. They are using the spot option platform which is the top-rated in the community for its excellent data feeds and latency speeds.

They are located in the UK, London to be specific. This is a country that does have strong trading regulations so the probability of getting scammed is minimal if not nonexistent.

One thing I like about Magnum options that other brokers don’t provide is a strategic advisor. When traders hover the mouse over the bottom left-hand corner of the chart while trading they can choose between a handful of different indicators that will automatically generated trading suggestion. I have a similar tool that I use in meta-trader four called the trade assistant that uses many of the same technical indicators. Traders can choose between RSI, Moving Averages and Bollinger Bands. Is a very interesting concept and is something that really sets them apart from other brokers. I feel like this would be really helpful when using the binary options software that I recommend here on binary today.

Final Thoughts

Magnum options has earned the binary today seal of approval. I’m at the point now where I am willing to deposit one of my larger accounts with this binary options broker because they have earned my trust.

If you don’t have a broker or you do have a broker and you don’t trust them that I suggest you change to Magnum options today. I hope that you will share your experiences on this review as well, please leave all your comments below the article now.

Magnum Options Review

Magnum Options strives to stand apart from other brokers and succeeds in operating differently when compared to most other brokers. Generally, the functional differences between brokers are so trivial that when the bird’s-eye view is considered, the differences have no significant impact on the trader or in the trading experience with binary options . Magnum Options mainly triumphs because of their transparency and standards of integrity that they maintain with their customers. They are doing their best in every aspect that can be measured. Even though Magnum Options does not have the official endorsement of CySEC or any other regulatory body like Malta Gaming Authority ,Magnum Option cannot be written off as a non-trustworthy site as they have been delivering excellent results.We will prove this statement with our review below.

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How to Make Money with Binary Option Robot

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Claim your free binary option robot, get started with three easy steps:

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  • 1. Your Binary Option Robot will analyse the market and decide, which asset (currencies, indices, commodities and stocks), is right to trade at that point in time.

    2. The Binary Option Robot Will Predict the Price Movement

    Your robot will assess a wide-range of factors, and then make a prediction on how the assets price will move, saying: Call (up) if it believes the price will rise and Put (down), if it believes the price will fall.

    3. Decide on how much you want to Invest

    Then you need to decide how much you want to invest in the commodity and when that investment will expire.

    4. Collect your Earnings

    Finally, you collect your earnings (the good part!)

    As Magnum options no longer accepts US traders, in case you are from US we recommend you to check other brokers such as CTOption, GOptions,Porter Finance and Bloombex. The best way to get everything out of this article, is to first open a free account to Magnum Options by clicking the button below. After that you are able to test the features alongside while are reading this review.

    Magnum Options in a Nutshell:

    • Broker: Magnum Options
    • Platform: SpotOption
    • Founded: 2020
    • Bonus: Up to 100%
    • Return/Refund: 70-85%/1-10%
    • Number of Assets: Around 200
    • Minimun Deposit: $200
    • US Traders: Not Accepted
    • Expiry times: 60 sec, 5 min, 15 min, hour, daily, weekly, end of the month, end of the year
    • Deposit: Multiple Credit cards, Visa, Mastercard, Bank Wire, Skrill, Moneybookers

    Magnum Options Slogan

    Bonuses

    Trading with Magnum Options as new traders has added benefits in the form of bonuses that they offer. Magnum options offer new traders bonuses ranging from 10% all the way upto a whopping 100%. Maximum bonus will be $10,000. It should be noted that larger the deposit amount, higher is the bonus percentage.

    Demo Account

    Magnum Options unfortunately has no demo account option at this point. Nevertheless, the minimum trading amount in a single trade is a measly amount of$5 and therefore the money involved in a single trade is not that significant. This is a good way to learn the nuances of trade by investing in several small trades and see how those go. Such a method can be termed as dividing the risk which is an important aspect of trading. Like they say, never put all your eggs in the same basket! We recommend you to adopt these small steps in the beginning and carrying out the minimum-amount trades until you gain a better know-how of trading and eventually, with practice trading will come much more naturally to you.

    Features of the Broker site

    Tradable assets:

    The list of assets available to trade while using the Magnum Options platform is extensive. There are around 100 different stocks, 30 currencies, 8 commodities, 50 indices and 15 pairs. Naturally, stocks are picked from the biggest global companies.

    Currency pairs encompass the most used currencies of world capital markets such as USD, EUR, JPY, CAD, GBP. AUD etc.There is an additional feature of a possibility to trade with Bitcoin crypto currency as well.

    On the other hand, the commodities list is typical of the industry standards with offers of 8 commodities to trade. They are coffee, corn, gold, oil, platinum, silver, sugar and wheat.

    The list of indices includes the most important stock markets around the world and comprises of most liquid indices as well. The indices represent several markets and industries which makes it easier for traders to find their favorite ones quite effortlessly.

    Magnum Options Ifollow where you can follow your favorite traders and copy them

    The list of pair options includes some extraordinary pairs whose success is compared with each other. Some examples of such pairs are Apple vs Amazon, Apple vs Google, gold vs silver, gold vs EUR.

    To shed light on the payout and profits offered by the Magnum Options,their average return falls around 80% with a maximum of about 85% which is overall a good number. What makes it more attractive is the refund they offer which can be up to 10% from the traded amount. This refund is offered to a trader after losing a trade. Such an offer increases the total amount of profits in the long run because some of the lost trades are refunded back to traders.

    How to trade with Magnum Options

    Magnum Options operative-platform SpotOption provides a wide range of trading possibilities that includes expiry timings apart from the options for assets as mentioned above.

    Expiry times vary between 30-300 second in the “sixty second” category. In the long-term category, expiry times range from a week to more than 15 months. These are vastly different type of investments and both have their own special advantages.

    A significant feature of Magnum Option is the Ifollow where traders can see, follow and imitate other successful traders and their individual trades. The Ifollow gathers the top traders and ranks them in order. This definitely aids to lift up your own success rate.

    One Touch Options are high payout options.

    The actual trading procedure is quite straightforward. Trader needs to choose the asset, the duration, and whether it will tend to go up or down in the chosen time frame. SpotOptions platform is clear and well designed for that.

    SpotOption is one of the most reliable platform providers in the binary options industry. Their platform is clear and easy to trade with. Magnum Options offers following option types:

    Among the aforementioned types, Ladder options have the highest available profits. By reaching certain limits in the valuet, profits can rise over 1000%. One Touch option is an additional high payout option that will be profitable if certain lower or higher pre-set limitsare reached within the duration of the trade. These are definitely worth trying if you are comfortable taking such high risks in order to gain profits.

    Ladder options offer even over 1000% payouts.

    It is highly important to possess risk adjusted portfolio in trading and therefore,it is important to select all the features of short and long term options. Magnum Options offers wide range of products and tradable assets that traders can list in their portfolio which they feel comfortable with.

    These features allow traders to build risk adjusted portfolio and divide total risk to multiple assets, markets and time frames. Such adjustments lead to best possible outcomes instead of putting all the eggs in one basket.

    Minimum trade is $5 and maximum is $5,500 for regular options which is quite a desirable option.

    Educational material and tools

    Magnum Options provides many trading video courses in their trading academy. They offer 5 courses for beginners, 8 for advanced trading, 5 for binary options and 3 in- depth courses.

    Beginner courses are about importance of learning the nuances of global trading, understanding the advantages of binary options, carrying out the trade and eventually becoming successful at it, knowing the options of change and risk, emotions in trading and distribution of risk.

    Course selections is wide and there is a lot of useful information available.

    Advanced courses handledeeper issues such as passive trading, aggressive trading, market analysis, trend, support and resistance, shooting star and Harami patterns, pattern identification, and breakaway for pattern features and characteristics.In-depth courses deal with winning tactics, basic and advanced technical analysis.

    In addition to the various training options, Magnum Options provides an eBook to its traders that covers all the aforementioned issues and many other insights and details.

    If deluge of the learning and reading materials seem too weighty to handle, there is a solution which might be just for you: a fully automated binary option robot which can help you trade better. The Real Robot will perform automatic trading according to pre-determined parameters. This helps in profitable trade even when you do not have any access to a computer or do not have the time conduct manual trade. According to us, it is the best binary option robot available that can help you to trade successfully by placing actual trades on your behalf utilizing highly sophisticated signals system. The Real Robot is fully automated options trading software that aids you to earn more money with less work. Now you can get this auto trader completely free by clicking the button below.

    Mobile trading

    The SpotOption software makes it possible to trade through a mobile application when you’re on the go and not even near a computer. The mobile version of the platform allows to make the very trades and actions that the full version does.

    With mobile version you have access to your trades and thus you can place new trades from anywhere. Mobile version is accessible through the App Store and Google Play, and you must furnish your login before being able to start using the app.

    You can trade on the go with Magnum Options mobile app.

    Is Magnum Options a scam or a proper broker?

    Magnum Options has been around for over 2 years and their excellence is apparent. Their trading platform is properly build and designed to make the best trading experience in the industry. Is it the best available option? That, we cannot determine but we can say that comes extremely close to being the better options available at least. Trading with Magnum Options is straightforward and intensive. We have not found any indication of scams at this point of time and firmly believe that there are no fraudulent activities associated with this site.

    Customer service

    Magnum Options offers toll-free international phone line number. Live chat option is available on the site in real time and the support staff can also be contacted via email and a contact form. Chat replies are quite fast and in the test conduct by us, they were able to quickly help us with the problem that we simulated. Advices meted out by the staff were relevant and was of significant help. From our experience we could gather that Magnum Option is really keen on assisting their customers with the best of their abilities.

    Banking

    There are several deposit and withdrawal options that include multiple credit cards (Credit / Debit Card: Visa, Delta, MasterCard, Diners, Visa Electron, Maestro, Maestro UK (Switch) and Solo) and wire transfer. Wire transfers have some additional fees and therefore, we recommend using the credit card as primary method. Notice that the bonus money has to be circulated according to the terms before the withdrawal.

    There are numerous banking options available.

    Conclusion

    As this review comes to an end, we will conclude that Magnum Options is not a scam broker. Their range of assets is comprehensive and everything related to actual trading is exceptionally clear and straightforward. Educational material is extensive and even amateurs can trade successfully when they understand the messages of the video courses. Magnum Options customer service is fast and accurately straight in case of any concerns. We recommend their broker services to traders belonging to any level be it beginners or professionals.

    In our overall verdict, we award Magnum options a rating of 4.7 points out of 5 as a binary options broker site.

    Open an account and start trading with Magnum Options by clicking the button below!

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