Magnum Options Review.
Magnum Options is a well-established binary options broker that has been in existence since 2010. Although they used to offer a limited range of trading products (stocks and binary options indices) to USA customers, they have since closed their doors to American traders. They continue to offer their trading platform to investors around the globe. With plenty of great features and responsive customer service, they are an exciting binary options broker.
Get Started with a Demo or Live Account.
Magnum Options has a minimum deposit amount of $200, and you can trade in euro, US dollar, British pound, Australian dollar, Canadian dollar, Japanese yen, or Russian ruble. You may make your deposit using your credit or debit card, a wire transfer, CashU, or WebMoney. While this is not a lot of deposit options, Magnum Options states on their site that they are striving to add more soon.
Once you deposit, you have the option of either trading live or opening a demo account. The demo account is not openly promoted on their site, but you can request one from customer service. This is an excellent feature since it allows you to practice your trading techniques and test their effectiveness before you risk real money.
There are a number of account tiers at Magnum Options. The more you deposit, the higher your account tier will be, and the larger the bonus amount you will qualify for.
Starter: Minimum deposit of $1,000, bonus of 30%. Mini Gold: Minimum deposit of $5,000, bonus of 50% or 1 risk-free trade.
Gold: Minimum deposit of $10,000, bonus of 75%, binary options or 3 risk-free trades. Platinum: Minimum deposit of $25,000, bonus of 100%, or 5 risk-free trades. Diamond: Minimum deposit of $50,000, bonus of 100%, or 8 risk-free trades. Presidential: Minimum deposit of $100,000, bonus of 100%, or 12 risk-free trades.
As you can see, Binary option Magnum Options tiers are geared mostly toward traders with medium or larger accounts, but the Starter account is still a nice option for a trader with a smaller bankroll. I love that you can choose risk-free trades instead of a bonus (it is the more responsible option, and may be worth more to you than the bonus ultimately). Note that you can also get additional bonus money by referring a friend ($50 for each of you).
Magnum Options has a lot to offer traders in terms of trading tools and educational resources. There is a trading eBook, a number of video tutorials, and webinars. Traders can take advantage of tools like double up, rollover, and early close. There is also the "Strategy Advisor," which is several indicators that traders can add to their charts. At the higher account tiers, additional webinars, videos, and training sessions are available, along with market reviews and other benefits. Traders may also take advantage of social trading to copy from the best traders on the site.
Trading on Magnum Options.
Magnum Options is powered by SpotOption, which is likely familiar to you if you have traded on other binary options websites. It is the platform which the majority of brokers use.
It is intuitive and easy to use.
The minimum trade for most trade types is $20 ($5 for 60 Second options). This may be a little high for some traders; it is yet another indication Magnum Options is aiming to serve customers who are depositing $1,000 or more. The upper trade limit is $5,000 for most trade types (less again for 60 Second options).
There are 189 different assets you can trade on the site, including currencies, commodities, stocks and Binary option indices, as well as pairs. This is a huge selection! Types of trades include High/Low, Pairs, Long Term, Binary option 60 Seconds, One Touch, and Ladder. This is again a great selection; there is something here for every type of trader. The typical maximum payout is around 81%, but some types of trades, like One Touch and Ladder, may pay out significantly more.
Great Customer Service.
Magnum Options serves customers through email, web form, toll-free telephone, live chat, and paper mail. I got on live chat to ask a question. I was unable to view the account tiers because I am located in the USA, and there was no way for me to register an account. I wanted to ask for a screenshot.
An agent was available to assist me almost immediately. He was fast to respond, and while it took him a few minutes to understand what I wanted, he was eager to help me. He promised to email me a chart with the account tiers including all of the details on bonus amounts and special features, and to do it "shortly." I fully expected this to take a while longer than he stated, but he was true to his word. Within about ten minutes, the chart was in my inbox, complete with all the information I needed.
Customer service like this isn’t something you are going to find at most binary options websites! Many sites will never answer their chat desks at all, and if they say they will get back to you with information, you check your inbox a week later and nothing is there. Not only was the agent at Magnum Options at the chat desk almost instantly, but he followed through on a promise and sent me the information. This was a pleasant surprise, and I am very impressed.
Conclusion: A Great Choice for Binary Options Traders.
Based on the customer service that I received as well as the resources and features that Magnum Options offers traders, I would not hesitate to recommend them. Magnum Options has cultivated a pretty solid reputation over the years, and I have been familiar with them for some time now. While it is sad that USA traders can no longer sign up here, the site has become better and better over the years for international traders.
Magnum Options is a well-established binary options broker that has been in existence since 2010. Although they used to offer a limited range of trading products (stocks and binary options indices) to USA customers, they have since closed their doors to American traders. They continue to offer their trading platform to investors around the globe. With plenty of great features and responsive customer service, they are an exciting binary options broker.
Get Started with a Demo or Live Account.
Magnum Options has a minimum deposit amount of $200, and you can trade in euro, US dollar, British pound, Australian dollar, Canadian dollar, Japanese yen, or Russian ruble. You may make your deposit using your credit or debit card, a wire transfer, CashU, or WebMoney. While this is not a lot of deposit options, Magnum Options states on their site that they are striving to add more soon.
Once you deposit, you have the option of either trading live or opening a demo account. The demo account is not openly promoted on their site, but you can request one from customer service. This is an excellent feature since it allows you to practice your trading techniques and test their effectiveness before you risk real money.
There are a number of account tiers at Magnum Options. The more you deposit, the higher your account tier will be, and the larger the bonus amount you will qualify for.
Starter: Minimum deposit of $1,000, bonus of 30%. Mini Gold: Minimum deposit of $5,000, bonus of 50% or 1 risk-free trade.
Gold: Minimum deposit of $10,000, bonus of 75%, binary options or 3 risk-free trades. Platinum: Minimum deposit of $25,000, bonus of 100%, or 5 risk-free trades. Diamond: Minimum deposit of $50,000, bonus of 100%, or 8 risk-free trades. Presidential: Minimum deposit of $100,000, bonus of 100%, or 12 risk-free trades.As you can see, Binary option Magnum Options tiers are geared mostly toward traders with medium or larger accounts, but the Starter account is still a nice option for a trader with a smaller bankroll. I love that you can choose risk-free trades instead of a bonus (it is the more responsible option, and may be worth more to you than the bonus ultimately). Note that you can also get additional bonus money by referring a friend ($50 for each of you).
Magnum Options has a lot to offer traders in terms of trading tools and educational resources. There is a trading eBook, a number of video tutorials, and webinars. Traders can take advantage of tools like double up, rollover, and early close. There is also the "Strategy Advisor," which is several indicators that traders can add to their charts. At the higher account tiers, additional webinars, videos, and training sessions are available, along with market reviews and other benefits. Traders may also take advantage of social trading to copy from the best traders on the site.
Trading on Magnum Options.
Magnum Options is powered by SpotOption, which is likely familiar to you if you have traded on other binary options websites. It is the platform which the majority of brokers use.
It is intuitive and easy to use.The minimum trade for most trade types is $20 ($5 for 60 Second options). This may be a little high for some traders; it is yet another indication Magnum Options is aiming to serve customers who are depositing $1,000 or more. The upper trade limit is $5,000 for most trade types (less again for 60 Second options).
There are 189 different assets you can trade on the site, including currencies, commodities, stocks and Binary option indices, as well as pairs. This is a huge selection! Types of trades include High/Low, Pairs, Long Term, Binary option 60 Seconds, One Touch, and Ladder. This is again a great selection; there is something here for every type of trader. The typical maximum payout is around 81%, but some types of trades, like One Touch and Ladder, may pay out significantly more.
Great Customer Service.
Magnum Options serves customers through email, web form, toll-free telephone, live chat, and paper mail. I got on live chat to ask a question. I was unable to view the account tiers because I am located in the USA, and there was no way for me to register an account. I wanted to ask for a screenshot.
An agent was available to assist me almost immediately. He was fast to respond, and while it took him a few minutes to understand what I wanted, he was eager to help me. He promised to email me a chart with the account tiers including all of the details on bonus amounts and special features, and to do it "shortly." I fully expected this to take a while longer than he stated, but he was true to his word. Within about ten minutes, the chart was in my inbox, complete with all the information I needed.
Customer service like this isn’t something you are going to find at most binary options websites! Many sites will never answer their chat desks at all, and if they say they will get back to you with information, you check your inbox a week later and nothing is there. Not only was the agent at Magnum Options at the chat desk almost instantly, but he followed through on a promise and sent me the information. This was a pleasant surprise, and I am very impressed.
Conclusion: A Great Choice for Binary Options Traders.
Based on the customer service that I received as well as the resources and features that Magnum Options offers traders, I would not hesitate to recommend them. Magnum Options has cultivated a pretty solid reputation over the years, and I have been familiar with them for some time now. While it is sad that USA traders can no longer sign up here, the site has become better and better over the years for international traders.