Magnum Options Review
30-100% up to $10,000
|Support Types||phone, live chat, email|
|Languages||English, German, Italian|
|Minimum 1st Deposit||$200|
|Minimum Account Size||$200|
|Minimum Trade Amount||$5|
|Maximum Trade Amount||$3000|
|Bonus||30-100% up to $10,000|
|Free Demo Account||Open Demo|
|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|
It is no longer advisable to open an account or possible to do so at Magnum Options as they are out of business. They used scrupulous sales tactics and sales funnels. From now on it’s on the blacklisted brokers or scam brokers list on Choosebroker.com. Take a look at our top rated binary option broker IQ Option instead.
If you got scammed by them, please follow the process and file a complaint here.
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
- 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
This is yet another scam broker I got ripped off by this broker a while ago it was impossible to get a withdrawal. I had to hire a recovery firm to get my money back
Pros: selling products
Nadelen: total scam. can't bee trusted.OPEN ACCOUNT