This binary options broker only came to fruition in 2013 but has since come to lead the pack, with its stellar offering. Magnum Options is a great binary options broker for beginners and experienced traders, as it dedicates a lot of resources to education, in addition to offering high payout rates along with a platform packed with a variety of option tools and a large range of assets. This review will examine several of the broker’s credentials in depth.
|Support Features||Live Chat, Phone, Contact Form and Email|
|Free Demo Account||On Request|
|Deposit & Withdrawal Methods||Visa, Mastercard, CashU, Western Union, Wire Transfer|
|Account Currencies||EUR, USD, GBP, CAD, AUD|
|Option Types||High / Low, One Touch, Option Builder, Early Exit Options|
|Option Expiry Times||60 seconds to 24 hours|
|Mobile Trading||Android & iOS|
Magnum Options Accounts
With Magnum Options users can choose from different account packages. Each account package has its own combination of benefits, bonus rates and deposit requirements.
- Mini. The Mini Account is the first package account on offer. It asks for a $500 deposit and grants users a 25% bonus for trading. This is a suitable package for beginners as it comes with access to a host of educational materials such as webinars, video courses and a dedicated e-book.
- Starter. The Starter Account is the next account package with slightly more benefits. This package asks for a $1000 deposit and rewards users with a 30% bonus for trading.
- Silver. The Silver Account is Magnum Option’s recommended package and this deal outshines the mini and starter accounts by granting users access to a personal account manager along with a risk-free trade and a free academy training session. Users may also join in on one exclusive VIP webinar. The Silver Account requires a $5000 deposit and entitles users to a 50% bonus for trading.
- Gold. For a $10,000 deposit users may open a Gold Account, which is the preferred choice for more experienced traders. This higher end package gives users a 75% bonus for trading in addition to other benefits such as three risk-free trades or a single guaranteed profit trade. Furthermore, traders are given two academy training sessions, an exclusive VIP webinar and a free tablet device.
- Platinum. The top account package Magnum Options offers is the prestigious Platinum Account. For a $25,000 deposit users are granted a 100% bonus for trading in addition to five risk-free trades or three guaranteed profits trades. This VIP account is similar to the Gold Account because it also offers two academy training sessions, an exclusive VIP webinar and a tablet device, but tops this deal by offering a same day withdrawal feature.
Deposits and Withdrawals
Opening an account with Magnum Options does not require a large deposit, with the site offering a minimum deposit of $200. An account can be funded via Visa or MasterCard Credit cards, Neteller, an e-wallet provider or via a wire transfer. Users may hold accounts in US dollars, pounds, euros, Canadian dollars or Australian dollars. There are no fees for opening or holding an account.
Like deposits, withdrawals are processed online and require users to complete an online request form, which is then handled by the accounting department. Withdrawals are sent to user’s credit card, Neteller account or bank account, in other words, it is returned to the funds’ deposit source.
Magnum Options Trading Platform
Magnum Options opts for the SpotOption platform, the top choice of leading binary options companies. This platform offers users a personalised experience and its slick design allows for easy user adoption. To make the experience more mobile Magnum Options offers its platform as a mobile app for iOS and Android devices. This way users can check up on their trades and account details wherever and whenever they like. Magnum Option’s platform also stands out because of its extensive asset library, filled with over 180 individual assets. The range covers currencies, indices, commodities and stocks.
Magnum Options offers an attractive payout rate of up to 81% and the website is rich in educational material, which can be viewed from the academy section of the site. This material is intended to help users new and experienced alike become more familiar with binary options strategies.
Magnum Options offers users 24/7 customer service, with a helpful team always on hand to answer questions. They can be reached by phone, via one of Magnum Option’s toll-free numbers, as well as email and LiveChat. The team was not only efficient but friendly, fast and on top of its game.
Magnum Options is a recommended broker for all those looking for a dynamic trading experience. The platform delivers in all arenas, with bonuses, good customer service, attractive payout rates, and an easy to use website and plenty of educational tools. Additionally, with a wide range of assets and trading tools, Magnum Options offers an interesting and enjoyable experience.