MagnumOptions.com is a fairly new broker, having been formed in 2013. They are one of the few online binary options platforms that is open to U.S. traders.
Magnum Options offers a wide variety of currencies, commodities, indices, and stocks to trade binary options with.
Magnum Options uses the popular Spot Option platform, and is available on the web as well as a mobile app on both iPhone and Android.
In addition to offering classic binary options trading, Magnum Options also offers One Touch, High/Low, Ladder, Pairs, Long Term, and 60 second trades.
All trades are insured by Magnum Options, meaning that traders receive a 10% return even if their trade finishes out of the money. The max return amount is around 81%.
The minimum trade amount on 60 second trades is 5 dollars, and on all other trades are 20 dollars.
Magnum Options provides free demo accounts to any user who wishes to test the platform before making a deposit. Once someone is ready to commit, there are 4 account levels based on the amount of the initial deposit:
Standard Accounts are available with the minimum deposit of 200 dollars. They include a 20% welcome bonus, frequent market reviews, and a copy of Magnum Options’ eBook.
Premium Accounts receive enhanced support and additional educational materials, in addition to the perks of the Standard Account.
Executive Accounts get full access to all of Magnum Options’ educational resources, and a personal account manager to advise them on how and where to invest their funds.
Elite Accounts receive all of the above, plus a 100% welcome bonus. They also have access to personalized training sessions with advanced account managers.
Deposits and Withdrawals
The minimum deposit amount is a relatively low amount and can range up to 20,000 dollars via credit card, or an unlimited amount via wire transfer. The minimum withdrawal amount is 100 dollars, and the maximum is 20,000 dollars with a credit card.
Traders can deposit and withdraw their money using several different methods, including debit/credit card, wire transfer, and CashU. Each deposit and withdrawal requires strict security procedures to protect the customer. The trader must provide a government-issued ID, a proof of residency, and a copy of the credit card or bank slip.
All credit card withdrawals are free while wire transfers are free, once per month, and then cost is 30 dollars for each additional withdrawal that month.
Magnum Options offers a starting bonus at every deposit amount, ranging from 10% to 50%. There is also a refer-a-friend bonus of 50 dollars for each friend who opens an account.
There are a variety of promotions going on at any given time, as well as various account level bonuses. For information on specific bonuses, contacting customer support is recommended.
Magnum Options Academy is full of valuable resources for traders at every skill level. They host live webinars nearly every day on a variety of topics, from learning to use their platform, to trading with Candlestick Charts, and other advanced methods.
At the standard account level, access is restricted to a handful of basic tutorials and the free eBook. Higher account levels gain access to more advanced courses, such as technical analysis, financial management, and trading psychology.
Account holders have 24/7 access to live chat and email support. Phone support is available an average of 18 hours per day during the week, with their schedule posted on the website. There are toll-free numbers for the US and UK, and international numbers for those in Australia or South Africa. Support is available in English, German, Italian and several other languages.
In addition, Executive and Elite account holders are provided with a dedicated Account Manager who they can rely on for individualized support. Elite members have “Senior” account managers, who work with them to provide expert trading advice and support.
Though they are relatively new to the binary options scene, MagnumOptions.com provides a robust platform for traders at any level. With over 150 assets to trade on, and 8 different types of binary options trades, there is enough variety to keep even advanced traders interested.
Their customer support goes above and beyond, even for low level account holders. They provide secure transactions to protect their customers from identity theft and fraud. Magnum Options also offers attractive bonuses, education and a wide variety of trading tools.
Overall, Magnum Options is one of the best binary options brokers on the internet today. They are proven to be safe and focused on helping their investors make as much money as possible.