Magnum Options Review
Magnum Options offers 5 different account types for all traders: from Mini accounts for beginners to Platinum accounts for advanced traders. Each type of account has its own special features and bonus structure. The broker is offering a 100% bonus when you deposit $1000 or more (Executive Account). It is also offering a various financial tools that can assist you in making profitable positions. You should check out the Magnum Options eBook, and choose between their Mini, Standard, Executive, Gold and Platinum accounts. Each deposit must be at least $200.
It is always simple to register an account at Magnum Options: only several details are required. After registration, you would be able to browse the page like any regular trader and see many features that would be inaccessible for non-registered visitors. However, if you want to actually begin trading, you must make a first deposit.
Platform Features & Markets Offered
- 9 FOREX Currency pairs
- 7 Commodities
- 23 Indices
- 22 stocks in various markets including Nasdaq and the European Markets
Magnum Options offers a very user-friendly trading platform. The broker has put in a lot of effort to personalize and make the interface unique. The layout is really easy on the eyes and has a good feel to it.
This user interface is at the moment available in 3 different languages: English, German and Italian.
The initial trading page has 5 different platforms, which we will discuss later in the review. On the main page, there is only one graph and a scrollable list of asset on the left. There is only currently live and tradable assets on this list, meaning any asset that the market is currently closed to will not be on the list. However, you can always access the full asset list to check out when certain assets will be available for trading.
At Magnum Options, regular binary options’ trading is called Call/Put. There is almost all the information you need to make a trading decision on the main screen, where everything is neatly displayed. The graph goes back to slightly more than 1 hour, and you can choose different expiration times.
In case you want to put in a trade, click either the call or put buttons depending on your choice, and then enter the amount of your investment. The payout rates at Magnum Options are very competitive and vary depending on each type of asset. Magnum Options also has a protection rate on many assets, which is basically a rebate that will be given to the traders in case their options land out of money.
Besides the expiry rate of the options you purchase, Magnum Options also gives trader a full list of expiry dates for all options that have expired recently, no matter you purchase these options or not.This policy is essential in building trust among customers, because by providing this list to the general trader community, the broker will have a much harder time manipulating the expiry rates per specific trader. Many traders often accuse their brokers of doing this when they are not satisfied with the results.
Magnum Options Unique Features
Magnum Options offers a range of very useful unique features to traders.
Onetouch is a good trading tool which allows you to put in orders during the weekends as well. The binary options just have to touch (reach) the strike price once during the week after the purchase of the options. And then the options will be in the money and expire profitable. The percentage of profit depends on how far the strike price is from the security at time of purchase, so profits can be very huge!
Options Builder is a tool that gives you a lot freedom in picking the types of binary options you would like to trade. You can choose the asset, the expiration time and also the payout! You are able to choose the ratio between the ITM payout and the OTM rebate. This is great because it allows traders to carry out more trades and learn the ropes at a lower risk of a large loss. This tool is also very useful when a trader agrees to a bonus upon signing and needs to generate a certain amount of trading traffic before the bonus liquidates into real funds.
The Open Platform or advanced trading platform is where you can sell back your option before its expiration. This tool is perfect for risk management as well as locking in your profits if you are not sure your stock will finish ITM.
60 Seconds Options is a speed trading feature. This feature is very popular among traders because it gives you an adrenalin rush. It is okay to give it a shot: the minimum trade amount for the 60-second option is just $5, so there is not much to lose.
Is Magnum Options a Scam?
Magnum Options is currently owned by Prestige Holdings and is located in the British Virgin Islands. The SpotOption platform is implemented for user-friendliness and easy integration. One of the most attractive features of Magnum Options is the policy of 10% return even when your option has expired. Magnum Options is one of the leading brokerages who employs advanced features and excellent trading tools to make it easier for traders. Moreover, they also offer cutting-edge payment gateways to traders similar to other leading brokerages, in order to protect all the transactions on their platform.
Magnum Options Review Conclusion
Magnum Options is absolutely one of the best binary options brokers available today, so you do not have to worry about the safety of your money. The broker also offers a demo account so that traders who are taking their first step into the binary options trading world can get a feel before actually spending real money. Magnum Options has really gone all-in with their platform and offered traders some of the most useful trading tools available.