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Magnum Options
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  • Visual Pleasure
    8
    out of 10
  • Ease of Use
    7
    out of 10
  • Originality
    8
    out of 10
  • Special Offers
    8
    out of 10
  • Performance
    8
    out of 10

Magnum Options Binary Options Review

Magnum Options joined the binary options scene in 2013 and succeeded in carving out a place for itself in the already crowded binary options traders’ arena. Since setting up shop the company has amassed itself a healthy following from around the world. What features does the website possess that have kept this provider’s popularity up? Papa Casino is on the case to find out what boils beneath the service of Magnum Options. Read on for more info.

Overview
In the crowded world of binary options trading sometimes it can be hard for traders and even industry insiders to discern between brokers. On the surface, they all have similar offerings. Some try standing out by offering one attractive feature, designed to lure new users. This is not Magnum Options’ way. This provider came onto the scene with a strong offering on all fronts. Its winning approach seems to be giving users an enjoyable trading experience, boosted by supplementary services such as educational materials, a streamlined platform and all round professionalism.

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Site summary
The team behind Magnum options has created a website optimised for trading and making its platform both performance-friendly and easy for users to navigate. The sleek design sets all the sections of the website up easily and it’s easy for users to get straight into the trading. The platform is also suitable for trading on mobile and tablet devices, for both iOS and Android, which works well in this mobile age, where people can’t always be close to a desktop or laptop computer.

The platform features an impressive array of underlying assets, with over 180 individual assets, covering stocks, a good number of major and minor currencies, indices and commodities and spans the American, European, Asian and Middle Eastern markets. Traders from across the globe will always find something to trade, wherever they are located. Mixed with a number of option types such as binary calls and puts, pairs, long-term trades, short-term 60-second trades, one touch and ladder, all with varying expiry times, there are a lot of options that allow traders to find their optimal trading style, suited to their availability and budget. Furthermore one of Magnum Options standout features is its stellar pay-out rate, which reaches as high as 81%.

We tested Magnum Options practical logistics and it passed with flying colours. Opening an account and depositing are straightforward and well-streamlined processes, and are cost-free activities. Depositing methods include credit cards, e-wallet Neteller and wire transfers. Withdrawals are similarly straightforward, although they do take a number of days for the accounting department to process, and are typically transferred via wire to a user’s bank account or back to the user’s credit card.

The trading provider has taken steps to make the site as accessible as possible to a large global audience and accounts can be opened in a number of major currencies, including US dollars, euros, pounds, Canadian dollars or Australian dollars. The site’s minimum $200 deposit is also meant to appeal to all budget sizes, but this amount is not the industry’s lowest and is pretty standard for many providers these days.

The website’s academy is another strong feature for Magnum Options. This resource-rich educational section is stocked with a healthy helping of tools to make users stronger traders and increase their trading experience knowledge. The online materials include an e-book, video courses for beginners, access to market analysis and charts, webinars, and more advanced level courses. These are all intended to help users become familiar with the binary options world, supply users with tips and strategies and keep traders up-to-date with market trends.

A lot of binary options providers offer users a demo account to help those new to the field become more comfortable trading online. After a bit of digging, we discovered that Magnum Options does offer this feature to traders once they have already made a deposit. This feature could compliment the strong academy section Magnum Options nicely. The availability of the demo is not advertised on the site and we feel it’s a pity in such an otherwise welcoming trading platform that this fact is omitted, and only made available to users with deposited funds.

Magnum Options does make up for this slip with their generous signup bonuses on offer. The package accounts on offer are another feature designed to help users improve their profiting chances as each account offers select services to transform users into more insightful traders. The packages do come with some terms and conditions, and we recommend users always read these. Magnum Options has tailor made 5 exclusive account packages.

For a $500 deposit, users can access the Mini Account, with a 25% bonus. The Starter Account for a $1000 deposit offers a 30% bonus. The $5000 deposit Silver Account offers a 50% bonus and is the site’s recommended package, which also entitles users to access to a personal account manager, a risk-free trade as well as a free academy training session.

The more high-rolling traders might prefer the more premium Gold or Platinum accounts for $10,000 and $25,000 deposits. These high-end accounts respectively offer 75% and 100% bonus, along with other benefits, such as risk-free trades or guaranteed profit trades, free training sessions, and a complimentary tablet device. The Platinum Account also has the added benefit of a same day withdrawal feature.

The customer service provided by Magnum Options is one of the best out there. They are available for communication via various media to suit all users’ preferences. For those who like instant answers, there are live chatting or phone options, with a host of international toll-free phone numbers to boot. For those who prefer to communicate in the written form, there is also email. The team is game for any questions thrown at them, and they are also professional, approachable and most importantly, they know the ins and outs of the platform.

Best features
You can’t beat the variety Magnum Options has on offer. The combination of a diverse asset library teamed with a broad range of option types lets traders develop a trading style to suit their lifestyle, budget and time. The trading experience is also enhanced with an optimal platform, quality customer support and a strong academy.

Conclusion
It seems Magnum Options has struck the right balance and offer a winning formula for those seeking for a new binary options provider or for those looking to get started in the trading world. Apart from the lack of free demo account Magnum Options presents a good mix of professionalism, excitement, and the opportunity for profit.

Cons

  • Demo account is hidden and only available to users with funded accounts
  • Not the highest pay-out rates in the industry

Pros

  • Diverse and large asset range and an assortment of trading options
  • Quality customer service
  • Large selection of educational resources
  • A variety of account packages for all budgets, with attractive bonuses
  • A winning platform, built for an easy trading experience

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