Magnum options is a fairly new binary options broker providing trading services since 2013. Whilst it offers many of the same features as other top binary options brokers, it has also innovated with several key tools and incentives for traders to use. Among these are the ability for US traders to trade binary options using the Magnum Options trading platform, as well as the close early and roll over tools to increase the chances of binary options expiring in the money. Another key feature of trading with Magnum Options is the 10% ‘insurance rate’ which is paid back to traders on each losing position.
What do Magnum Option offer?
Magnum options have arrived on the scene fairly recently and, unlike the pioneering of binary options brokers who emerged during the 2008-9 financial crisis, have been required to prove their worth against their more experienced counterparts. This has benefitted binary options traders as the outcome of this increased competition has been the improvement of binary options trading services as well as a number of large developments in the way that these are traded.
Magnum Options has been one of the leading innovators in this second-wave of binary options broker, offering its customers over 100 underlying asset markets through its entirely web-based trading platform. The fact that Magnum Options has arrived during a period of very rapid development and innovation in the binary options world gives it a solid basis for its claim as using the most advanced trading technology available. A clean, fast and uncomplicated trading platform allows traders to access any real-time options within minutes of opening an account. Streaming news provided by Thomson-Reuters is also embedded in the platform to keep customers up to date with breaking news.
Magnum Options offer a very generous 81% pay out, among the highest average in the industry, on its regular options which close in-the-money. This binary options broker also goes a step further than simply offering good pay out rates for winning trades but also guarantees a 10% return of the investment for all losing trades. As a genuine sign that the company values the longevity of its customers, providing an insurance rate of 10% against every losing position is highly beneficial to any new or experienced binary option traders looking to trade long-term.
Magnum Options trading platform
Magnum Options claims to provide one of the most advanced trading platforms available and it can be considered as a fairly honest evaluation. Unlike some of the more established brokers, who tend to specialise in one form of binary options trading, Magnum Options aims to powerfully combine several methods of binary options trading within a single platform. Alongside the standard higher/lower binary options, it also offers 60 second binary options as well as Pairs trading which provide a return of up to 81%.
Beyond the standard pay-out and short-term trading opportunities, Magnum Options also offers its traders the opportunity to gain very large profits from successful One Touch and Ladder trades. Both of these forms of binary options allow traders to speculate on whether price will hit a certain level in the market. With Magnum Options One Touch trades offering up to 500% profit on the original investment and some Ladder binary options with pay-outs of up to 900%, these options provide the opportunity for significant returns.
Payments and funding
Magnum Options offer all of the most popular methods of depositing in to a trading account, including credit and debit card transactions as well as a standard bank transfer. They do not currently offer a net wallet option such as Paypal or Skrill although this is likely something which will be offered in the future. Transfers of profits out of a Magnum Options account take approximately 3 working days with a minimum transfer amount of $100 whilst the minimum deposit amount is a reasonable $200.
Support and customer services
One of the central elements to Magnum Options promise to make binary options both simple and safe is the access to technical support which is 24 hours per day. Each customer is also provided with a dedicated account manager who can be contacted directly, if necessary. Additionally, the option to use live chat exists directly through the website and there are a number of toll-free telephone numbers for customers living in the UK, US or Canada. For those living outside of the countries, Magnum Options offers a number of satellite offices which provide a range of language support services.