Magnum Options is a binary options broker that is best suited for USA Traders. Very few brokers have been in a position to establish themselves as a trusted broker on the american market. But Magnum Options have beaten the odds by opening their platform to US traders. This has been a move that has cannot be left for granted since they have carefully attended to this market niche and proved to be the best and most reliable binary options broker to the Americans. This can be attributed due to the following reasons.
Trading platform, payouts and assets
Magnum Options have gained popularity due its easy navigable platform, but it does not differ with the traditional trading engines. The platform User Friendliness has made it easy for both old and new traders to use. The platform is accessible with only three languages English, German and Italian. Unfortunately, it does not offer Mobile Trading which is a current and preferred by most of option traders due to flexibility and portability of smartphones and can be used conveniently.
The main reason that magnum has preserved their heritage is because of its stable and accurate platform. Traders are always in need of accurate and up to date data and that’s why it is linked to Thomson Reuters data streams so that traders can have a full access to all the 62 offered assets data.
It offers an average of 75% payout ratio on trades, but some traders can gain up to 100% (One Touch trades) returns.
Magnum option offers around 66 items, which is composed of Currencies, Stocks, Indices and Commodities for traders with specialization in different sectors to blend in comfortably. The account currency that is allowed is only the USD and the EUR making traders using the USD access their platform.
Academy and Trading tools
Magnum options have a well-established academy where both new and advanced traders can get access to an online library, E-books, journals, live webinars, live videos or a one to one trading session for a fast understanding. The academy based on a serious consideration on the global increase in binary option traders, most new traders gain low or poor trade returns due lack of enough trading knowledge.
They have a wide expiry time that enables clients of different account types to easily and successfully place trades. The time frames range between 15 Sec, 30 Sec, 60 Sec, 2 min, 5 min, 15 min, 1 hr and 24 hours. The option types available are High / Low, One Touch, 60 seconds, Long Term, Pair Options and Ladder Options
Magnum offers two main trading tools, the Option Builder and Open Platform. The Option Builder is an advanced tool that is linked to the trading platform to help traders analyze the binary options they want to trade. It helps you create and personalize your trading strategies leading to easy and executable trades. The Option Builder allows traders to select different pairs and analyze their technical movements in the time movements and executable data released.
The option builder features mostly charts and technical chart analysis Traders have access to advanced analyzed charting systems and technical data on all trader able assets. The option builder is mostly used in technical analysis where traders can access, view historical trends and select different time frames of their selected pairs.
Bonuses and Promotions
Magnum options provide all their traders’ with an account manager, they are important since they provide updates on trending issues such as rules and regulations, terms and conditions, Bonuses and Promotions and some customer care services . All magnum option clients must pay an insurance premium and will reimburse at a range of 0-10% of their initial investment when they lose all their executed trades.
Bonuses on the basis of the account type; basic or standard account owners receive a 20% bonus on registration and elite traders have a 100% on their first deposit. You can only withdraw the deposit bonus once you have increased your bonus amount by 30 x
Banking and Customer Support
The banking process at Magnum options is well established, providing clients with a peace of mind while making deposits and withdrawals. The minimum amount on first account deposit is an amount equivalent to 200 USD on various currencies such as, the AUD, GBP, CAD, EUR and the JPY which is 20000. The minimum account size is 5 USD and the withdrawal amount is $100 which is a realistic amount to serious traders.
Magnum options have various methods that can be used to deposit funds and withdraw. It is unfortunate they do not accept net wallets even though it is the fast and secure for traders. They only deposit and withdrawal methods is the use of Visa, MasterCard, Amex, Maestro, Visa Electron or use of a Bank Wire.
They major setback is that clients must verify their accounts before making a deposit or a withdrawal. This might sound somehow over protective with the growth of online frauds, but the verification and request processing duration is somehow lengthy. It takes around 3 business days to process the withdrawal and deposit request and another 4-7 days, so that funds can reflect to a trader’s account.
Additionally, traders have access to a personalized customer service 24/7 via live chats, emails or telephone. Clients in certain regions such as the UK, US and Canada have access to a toll free line, but clients Magnum Options might not require customer services since they are offered with a dedicated account manager upon registration.
The aforesaid Magnum Options is a top rated broker that offers traders with an easy, secure and ethical trading experience. It is Advisable to consider magnum options on selecting a binary option broker since they insure their clients against full account closure by offering them with a 10% return to trades that have expired or closed. If you are American you will not get any hassles with the withdrawal of your profits. The withdrawal channels include master card and visa card. The broker allows full enjoyment of services like other non USA members.