Magnum Options is a binary options broker that opened its doors in 2013. It is relatively new in the binary options trading circles. Magnum Options is owned by Redtulips Consultants Ltd, a company based in the United Kingdom. In spite of being relatively new in binary trading, Magnum Options offers great features that make trading an awesome experience. Trading with this broker also comes with many advantages such as reasonable withdrawal fees, fair trade execution and accurate option pricing.
Magnum Options uses the SpotOption trading platform.
This broker also boasts of a great team of customer care experts who help clients handle all their matters effectively.
Magnum Options review – trading platform
Magnum Options also has an Android and iPhone App in the event that you want to trade right from your mobile phone.
Magnum Options review – features that stand out
When trading with Magnum Options, a trader is entitled to getting a 10% return in the event that the option expires out of the money.
Magnum Options also offers bonuses and auto trade software that helps traders manage their accounts well. Additionally, the open platform mode offers numerous benefits to traders as the features are more.
Magnum Options review – types of trade
With Magnum Options, you will have 5 types of trade to choose from. Each of the trades is designed to cater for different risk management strategies and the different trading styles that are commonly used by traders. The types of trading are:
- Option Pro
- Classic binary options: this is the easiest type of trade as all you are required to do is predict whether the price of the asset will go up or down.
- 60 seconds options: this is a quick trading session where the outcome of a trading session is determined after a minute.
- One touch options: this is where the payout is determined by whether the value of the asset gets to the pre-determined level.
- Option builder: this is a type of mode where the trader is in more control over the conditions through which he trades in.
Magnum Options review – trading accounts
There are 4 different types of trading accounts that you will get at Magnum Options. They include:
- Magnum elite
- Standard account
- Executive account
- Premium account
The main difference in these accounts is the kind of bonuses that they attract.
Magnum Options review – payout ratios
The average payout ratio is 81% but there are some trades that can attract more of as high as 100%. Trades that expire out of trade attract a 10% refund.
Magnum Options review – assets traded
There are 100 assets that you can trade at Magnum Options. These assets are:
- 19 indices
- 21 stocks
- 13 forex pairs
- 6 commodities
This is a wide variety of assets for you to trade and they have all been selected carefully to cover those that are most commonly traded.
Magnum Options review – customer care department
Magnum understands the need and importance of having great customer support services. That is the reason why they have invested in a good customer care department that responds to all their customers’ queries on a timely manner. You can get in touch with Magnum Options via live chat, phone or email.
Magnum Options review – reliability
Magnum uses SSL encryption technology and a trading engine that has been tried and tested. That is the reason why it has been so reliable all this while helping traders achieve their goals. Their site runs smoothly without any delays and the pages load easily. The site is also very user friendly.
- Many assets to trade and 4 types of trades to engage in
- Secured with SSL technology
- 10% refund on out of money trades
- Many bonuses that the traders can enjoy
- High payout ratio
- The regulatory environment is relatively new
- Withdrawal commissions
Given its features, this is a good broker to trade with. As a plus, their market reviews are professionally done and they are quite detailed.