Magnum Options is a new binary options broker that operate under a company called Redtulips Consultants Ltd. It was founded in 2013 and has a headquarter in Tempe Fortune, London. It is currently offering a 100% welcome bonus for anyone who open a trading account. Magnum Options does not accepts US customers. There are also some restrictions from customers from Israel.
Magnum Options offers the latest SpotOption trading platform for traders. The browser based platform features a sleek user interface. There are more than 250 assets you can trade in the SpotOption platform. The average payout is about 70% – 81%. Magnum Options offers up to 10% return rate. You can check your past trades by going to Investments History in your account.
Various types of options can be traded at the trading platform including high/low, currency pairs, short term, long term, one touch, ladder and Option Builder. The one touch and ladder trading system offers a returns of up to 500%. It supports 5 types of short term trading options including 60, 90, 120, 180 and 300 seconds. The time zone in the platform is GMT (Greenwich Mean Time). You can visit the asset Index page to view the trading hours of each asset. If you want to trade on a mobile phone, you can download the mobile apps.
The follow feature in the trading platform allows you to follow experienced options traders and recreate their trades in your account. You can set the investment amount and period of following in the i-follow tool. The Strategy Advisor feature can increase your profits in options trading. The platform offers user friendly interface that is packed with features for advanced traders.
Types of Accounts
Magnum Options offers 4 types of trading accounts including standard, premium, executive and magnum elite account. Each account differs in terms of the minimum deposit requirement and level of welcome bonus. Every trader will be assigned with an account manager. If you encounter a problem with your account, you can talk to your account manager. Free demo account is available for newbie traders who want to test their trading skills. The minimum investment amount is $5.
Magnum Options offers a welcome bonus of 10% to 50% for new signups. The maximum bonus you can receive is $10,000. If you are interested in getting the welcome bonus, you can contact the customer support representative and discuss with them about it. There is a trading volume you need to meet before you can withdraw the bonus in your account.
You can get a bonus of 20% when you deposit $250 into your account. Magnum Options is offering a bonus of $50 when you refer a friend. To take advantage of the bonus, your friend must deposit at least $200 into their accounts. You can refer as many friends as you want. Magnum Options offers rebates for out-of-the-money trades. It supports many different currencies including USD, EUR, GBP, AUD and CAD.
Deposits and Withdrawal
Traders can deposit the funds into their account through credit cards, debit cards and wire transfer. The minimum deposit amount on Magnum Option is $200 while the maximum deposit amount is $20,000. There is no limit on how much you can deposit into your account through wire transfer. The additional funds can be withdrawn via wire transfer
The minimum withdrawal amount is $100 for credit card withdrawal. The maximum amount you can withdraw from your account with a credit card is $20,000. The maximum amount you can withdraw with a credit card cannot exceed the investment amount. For wire transfer withdrawal, the minimum withdrawal amount is $500.
You will not be charged for the first withdrawal you make every month. However, you will be charged with a fee of $30 for the subsequent withdrawal. The reserve withdrawal option can be used if you change your mind and want to cancel a withdrawal. You should contact the customer support team by telephone or email when you want to cancel a withdrawal. Traders will have to submit their identity proof documents to perform a withdrawal just like the procedures in other brokers.
The educational section offers live webinars, one on one training and video tutorials for traders. You can find beginner and advanced video tutorials on binary options trading. Besides, they also offer free e-book that contains binary options trading tips from financial experts around the world.
Magnum Options offers 24/7 customer support through email, telephone and live chat. They provide toll free telephone number customer support for USA, Canada and United Kingdom. You can also contact their customer support through their email address. All the transactions are protected with SSL encryption technology.
In conclusion, Magnum Options is a trustworthy broker that offers traders the best value for their investments. Magnum Options offers many choices of trading accounts and an efficient withdrawal process.