Magnum options is a fairly new broker which is stirring things up in the binary options industry with its bold approach. Having already declared that it is prepared to provide unrestricted binary options markets to US traders, it has gained many fans by also including a popular insurance rate on binary options which expire out of the money. As a UK-based company, Magnum options also offer one of the largest range of assets for its clients to trade, with over 100 stocks, currencies and commodity markets to choose from. As one of the most competitive brokers, it also offers pay out rates of up to 81% on binary options closing in the money.
What do Magnum options offer?
Magnum options combine cutting edge technology with a first-class support service to its clients. The freshness in their approach to binary options has seen it develop in to one of the most popular examples of a new brokers improving the areas which the established brokers may have neglected. The provision of one of the fastest and most intuitive platforms has certainly attracted a large number of professional and new traders, as well as the ability to switch between a number of different binary options markets from one location.
The 100% web-based platform offers regular, sixty second, One Touch, Pairs, Ladder and Long term binary options. Whilst covering all of these markets it has also maintained customer support as a central feature, with 24 hour live assistance available 7 days per week. Data and breaking ews information is also provided by Thomson Reuters which ensures that every trader is provided with both real-time market data and news as soon as it breaks.
Why is Magnum options good for US traders?
US traders have had a hard time finding a quality binary options broker to provide trading services since many of the major names withdrew from US markets due to gaming laws. This has let a gap in the market which has often been filled by less reliable brokers offering unregulated services. Magnum options, however, are one of the few brokers who provide consistent, and reputable binary options markets to US traders. As a Cyprus regulated broker, operating from the UK, Magnum options has steadily become the most popular binary options broker in the US. Operating within the law and regulated form Europe, many US binary options traders continue to view Magnum options as the best broker available for trading from within the US.
Deposit and withdrawal methods with Magnum Options
Magnum options accept a number of payment methods including credit or debit card, bank transfer and the CashU payment gateway. They currently do not accept Paypal or Skrill payments which some other brokers allow. The minimum deposit using these methods is 200 Euros or US Dollars and the minimum withdrawal amount is 100. In comparison to many other popular brokers, this is reasonable and the processing time of 7-10 days for withdrawals is fairly standard. The costs for withdrawing are limited to those wanting to use wire transfer, with a $30 applied to withdrawals of less than $500. Withdrawal using credit or debit card is free.
Experience with Magnum options
Clearly, for US-based traders Magnum options is up there as one of the best available in terms of reliability and the markets that they offer. For those trading outside of the US, they are also an excellent example of a cutting-edge and innovative broker, providing state-of-the-art technology in its trading platform and a very generous 10% money-back guarantee for losing trades.
Perhaps the most outstanding element of Magnum Options, beyond the impressive range of binary options available to trade, is the focus on customer support. Round the clock availability and a number of different methods allows Magnum options to really stand out from the crowd, and make them especially suitable for new traders looking get a thorough understanding of how the platform operates.
Pro’s of Magnum options:
- 24/7 live support
- 10% insurance rate
- Accepts US traders
- 100+ markets
- 6 types of binary options to trade
Cons of Magnum options:
- 30$ fee for wire transfers under $500
- Does not yet accept Paypal or Skrill payments