Magnum Options Review

Magnum Options
30-100% up to $10,000
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Overview

Magnum Options company information Magnum Options is one of the newest online binary option trading platforms. Magnum Options runs on SpotOption software and has a user friendly and easy to… more

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Details

Broker Magnum Options
Website URL www.magnumoptions.com
Founded 2013
Headquarters British Anguilla
Support Number 1-855-217-4642
Support Types phone, live chat, email
Languages English, German, Italian
Trading Platform SpotOption
Minimum 1st Deposit $200
Minimum Account Size $200
Minimum Trade Amount $5
Maximum Trade Amount $3000
Bonus 30-100% up to $10,000
Payout 81%
Free Demo Account Open Demo
Commissions Yes
Commission Info No hidden fees or commissions
Account Types Standard Account, Premium Account, Executive Account, Magnum Elite
Deposit Methods wire transfer, credit cards, Neteller, Skrill/Moneybookers
Withdrawal Methods wire transfer, credit cards, Neteller, Skrill/Moneybookers
Trading Methods Roll Over, Early Sell
Number of Assets 59
Expiry Times from 60 seconds to a year
Types of Assets 59 different assets including 21 different stocks, 6 types of commodities ,13 types of forex pairs and 19 different indices.
Option Types classic binary options, One Touch options, Option Builder, Option Pro, 60 second options
Trading Currency 13 different major forex pairs
Account Currency €, $, £, ¥
US Traders Allowed Yes
Mobile Trading Yes
Tablet Trading Yes
Overall Score 7

Full Review

Magnum Options company information

Magnum Options is one of the newest online binary option trading platforms. Magnum Options runs on SpotOption software and has a user friendly and easy to understand user interface. Magnum Options accepts traders from all countries, including the United States and Canada.

Magnum Options binary options trading platform

Magnum Options uses as mentioned above the same software as many other leading brokers. Traders both new and experienced should not have any problems trading binary options with Magnum Options. At the moment Magnum Options offers 62 financial assets to buy or sell options on with expiry rates between 30 seconds and a year. Magnum Options offers classic binary options, One Touch options, Option Builder, 60 second Options and Option Pro. With Option Builder traders can ‘build’ their own options and determine their own expiry rates. Trading features like ‘Close Now’ and ‘Extend’ are both possible on Magnum Options and let you fully manage your risk level. Auto trading scripts and software like Binary Option Robot are fully compatible with Magnum Option. Out-of-the-money trades net you 10% of your investment back in the form of cashback.

Magnum Options trading accounts

On Magnum Options there are 4 different types of trading accounts:

– Standard Account
– Premium Account
– Executive Account
– Magnum Elite

There are no real differences in benefits in trading accounts. The only differences are the welcome bonus upon first deposit height and the minimum deposit required to open the accounts.

Magnum Options payout percentages

Although the payout percentages on Magnum Options might seem low on classic binary options (75%) the 10% cashback or rebate on out-of-the-money trades makes up for this. One Touch binary options pay out over 350% but obviously, more risk is involved trading these.

Magnum Options assets

On Magnum Options binary option traders can trade binary options on 59 different assets including 21 different stocks, 6 types of commodities ,13 types of forex pairs and 19 different indices.

Magnum Options reliability

All transactions, orders, deposits and withdrawals are 128 bit SSL secured. This leaves hackers and scrupulous activities away from your binary option trading account. However, I couldn’t find any regulatory information about Magnum Options just yet.

Magnum Options customer support

One of the most important things of a good and reliable broker is the quality of it’s customer support. Magnum Options understands this and provides excellent support to its clients. It may be because Magnum Options is quite new and thus has to compete with other, bigger, more famous binary option brands. Magnum Options customer support is available through live chat, email and by phone in English, German and Italian. Toll free numbers are available for UK and US binary option traders.

Magnum Options review conclusion

Magnum Options is a good broker for both new and experienced binary option traders. With 5 types of binary options and trading features like ‘Roll Over’ and ‘Early Sell’ binary option traders can fully manage their risk. Magnum Options runs on SpotOption software which is another pro as it’s easy to understand and very user friendly. 10% cashback on out-of-the-money trades is very nice and seems just enough to keep average payout ratios on classic binary options to compete with the industry standard. The daily and weekly market review articles are quite well written and provide traders with extra insight. Although I like cashback and rebates, I generally prefer higher payout ratios on standard or classic binary options. With Magnum Options offering 75% I find this a bit low compared to 85-93% some other binary option brokers like iq option and CToption do. For this reason I rate Magnum Options a 7/10 which could have been higher if payout ratios where a few percent higher and if they had more educational material available for people new to binary option trading.

✓ 75% average payout on standard binary options

✓ 10% rebate in the form of cashback on out-of-the-money trades

✓ Withdrawal requests processed within 48 hours

✓ USA traders accepted

✓ User friendly binary option trading platform

✓ Many different options like One Touch Options, Option Builder and Option Pro

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Pros

  • 75% average payout on standard binary options
  • 10% rebate in the form of cashback on out-of-the-money trades
  • Withdrawal requests processed within 48 hours
  • USA traders accepted
  • User friendly binary option trading platform
  • Many different options like One Touch Options, Option Builder and Option Pro

Reviews

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Decleration:
I hereby declare this review to based on my own experience trading with this broker and I did not reseve compensation in any way submitting this review

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