Magnum Options Review: The competition in the binary options trading industry is getting heated up with new-new binary options brokers. While some are trying to evolve, others, mostly newcomers are trying to make a statement by bringing new innovative features, and one such newcomer is Magnum Options. Despite being a newbie, the online brokers has become quite popular among traders. They have been online since 2013, however, we would like to mention you to that they haven’t got their license but the company has stated that they will get it by the end of 2016. So, without further ado, let’s get started with the Magnum Options review.
Magnum Options Review – Is Scam or Legit System?
As mentioned above, the company has been online since 2013, however, they are yet to be regulated by a regulatory agency, but this will not be a big concern considering the features and benefits they offer. Currently, they are headquartered at Norwich, UK.
Magnum options use SpotOption trading platform, which is regarded as one of the best binary trading platforms all around the world. Moving ahead, some might be a bit concern whether Magnum Options might be a binary options trading scam or not, well, while doing some research we found that they system is 100 % legit and moreover, if it would have been scam, they wouldn’t have used SpotOption trading platform or be transparent about their policies and their system.
Bonus Credit of $50- To make their trading platform, Magnum Options adopted a policy, which benefits both the user & the company, if a user refers to a friend, and if his friends join it then the registered user will be given a credit of $ 50.
Social Trading- If you are new to binary option trading then to start making money quickly, you can make best out of social trading, and speaking of which, Magnum Options also offers this feature, which allows you to follow some top traders, so when they gain profit from their trade, you will also get some payout from it.
Ladder Trading- This is another new feature, however, we would like to highlight that Ladder Trading is recommended for pros not amateur. In Ladder Trading, a user will be given a series of assets and they have to choose whether the price of those assets will be hitting certain points after a selected time period, if the prediction made by the user is right then he can win up to returns up to 1500 %, but remember this is for those who have a sound knowledge of the current situation of the financial market.
Strategy Advisor Feature- This is not a new feature, however, Magnum Options has added some tweaks to it. With Strategy Advice Future, traders can choose from 3 different strategies that will help the user to analyze and predict the future of an asset and depending on that he can either call ‘Up’ or ‘Down’.
Assets offered by Magnum Options
If there is a point, where Magnum Options outshines other binary options brokers then that has to be assets, Magnum Options offers more than 250+ assets for doing trading, which is remarkable.
Stocks: Magnum Options trading allows you to trade on more than 30+ assets, Facebook, Microsoft, Tata Steel, LinkedIn, Unilever, Vodafone, BMW, AXIS bank, etc, are some common assets.
Currencies: When it comes to currencies, with Magnum Options you will be able to trade on more than 20+ currency pairs.
Commodities: As per as commodities, Magnum Option offers around 9 assets, which include Gold, Coffee, Oil, Platinum, Sugar, Wheat, Gold/ Eur, Silver, etc.
Indices: Magnum Option also lets you trade on more than 35+ indices. Dow Jones, FTSE Future, NASDAQ, CAC Future, etc, are some of the common names.
Pairs: This is a relatively a new category, despite that, Magnum Options offers a good number of options, a user can trade on pairs like Facebook vs Google, Amazon vs Netflix, Facebook vs Twitter, BMW vs Renault, etc.
Types of Account offered by Magnum Options
In total, Magnum Options offers 5 types of accounts- Mini, Starter, Silver, Gold , & Platinum.
Mini Account-The Mini account is the most basic account offered by Magnum Options. For getting this account, a user needs to deposit an amount of $ 500. With the Mini account, you will be given access to eBook, Educational videos, Webinars & bonus of 25 %.
Starter Account- If you are beginner then you should definitely go with the Starter account. The only addition in the Starter account is that you will be given privileges like Market reviews, 1 risk-free trade or a signup bonus of 30%.
Silver Account-The Silver account is the ideal account for those users who have gained a decent knowledge. However, the amount required is quite high, the silver account will cost you $ 5000. Additional features include a dedicated account manager, 1 risk-free trade or 50% signup bonus & 1 academy session & VIP webinar.
Gold Account-The Gold account is the 2nd most exclusive account offered by Magnum Options. Gold account holders can choose among 1 guaranteed profit trade, 3 risk-free trades, & 75 % signup bonus. Furthermore, they will also give access to 2 webinars & academy sessions.
Platinum Account-This is the most exclusive account offered by Magnum Options. Users of Platinum account are given access to all the features offered by them.
Magnum Options offers wide range ways through which a user can get in touch with the customer support team, apart from live chat, Email, they also have an international toll free helpline number. So getting touch with the customer support team is quite easy and response from them is pretty fast.
Deposit & Withdrawal Methods
A user can deposit money using multiple ways. A person can use Debit Cards or Wire transfer for depositing an amount. And as far as withdrawal is concerned, they usually take up a couple of days to get processed unless you are Platinum account holder because the withdrawals of Platinum account holders are processed within the same day of request.
Magnum Options trading is a good alternate for a binary options trading broker. They provide quite a lot of features, which are beneficiary for both amateur and pros. However, the pricing of their account is quite high, and considering the fact that there are yet to get their license. Overall, Mangum Options is a good trading platform for both beginners & experienced traders.