Best Binary Options Brokers
 
 

Magnum Options Review

 
Magnum Options Minimum deposit: $200
US Traders: NO
 

I like to start my reviews talking about a good overview of what will be happening when you're doing binary options trading. There are some pitfalls and caveats, but there are a load of good things as well. Being diligent saved me a lot of headache and time. I read other reviews and cross-reference points about the brokers I was looking at, which I'll do here. Today I'm reviewing Magnum Options which, as it stands, is probably one of the most unique and pleasant experiences I've had. I do have some minor complaints but I'll address those later in the review. This may surprise you, but not all brokers have hidden fees and commissions. In fact, some of them have zero commissions (Magnum Options scores points big, here!).

 

Binary Options Trading?

 

I like to cover this in here as well so people know what I'm talking about if they've never done it. Simply put, a binary trading option is a combination of an asset's value and what it could be worth over time by a certain deadline. These times can range from any end of the spectrum you can think of: some are short minutes and others are done in months and even whole years. I personally like to choose somewhere between one and two months if the asset or binary option allows it. It's served me the best with the highest reward throughout the years, but it's not always the best bet. That's just my personal experience though. Now, onto how Magnum Options deals with binary trades!

 

Magnum Options At A Glance

 

Magnum Options was established not too long ago (April 2013 to be exact) and has since gone on to earn a high reputation among investors and brokers. They are highly-investor focused, meaning they're main concern is going to be you and what you want with your wealth. With this attitude, they provide one heck of an unforgettable experience – in fact, some of the best experience I've had with a major broker. They're approaching such household names as Charles & Schwab, which is pretty impressive considering they're so young. That's usually a pretty good sign that the group will know exactly what it's doing and how to do it. Going in armed with a bit about their history and their focus, I had high expectations and every single one of them was pretty much met.

 

Fees And Commissions Stuff

 

I've parroted this information a dozen times, but commissions and fees make or break you. Claiming to have no hidden fees and then getting smacked with a 10% commission is incredibly irritating, especially if you've budget for the binary option in advance. This has happened to me multiple times and every instance that it does, I'm not a happy camper. Even worse, I have to fight over it and point out that that's what was advertised on their brokerage web page. With Magnum Options, I didn't get any of that: everything was clear, upfront and put on the table for me. Kudos to them!

 

The Tools

 

Magnum Options is very up-to-date. I found their tools and monitoring applets built into the website to far exceed anything I've used before. There is nothing better than me being able to access what I need to know and when I need to know it how I want to know it. I had such a streamlined, smooth experience with the tools they provided I almost don't want to go back to other brokers I use. Definitely a high mark here for keeping useful utilities on the sidelines, ready to rock.

 

Website Availability & Compatibility

 

I use Chrome to do my dirty work and probably will for the rest of my life. It works with everything, it's fast and it's light on my memory. Magnum Options didn't have any issues with it. Some websites stall or lag under traffic and Magnum didn't do that once. I was so happy to be able to have multiple brokers open in different tabs and not have to worry about their website having a heart-attack and becoming temporarily unavailable. I was shocked, too, because even bigger websites like Google temporarily experience a technological murmur – that being said, I was left impressed. I do have a couple gripes about their design, though. It looks great and it has no issues scaling on my tablet, but it does appear to be very “bells and whistles”. In other words, if your phone or computer isn't at least recent, you may experience some lag or stutters. That's probably because Magnum Options is using the latest technology in their firm's website to ensure the best experience and make the most of the hardware, but take this as a forewarning. Moving that aside, I had zero issues testing this out on Safari (I use a Mac sometimes) which means whoever developed the site did a very good job. Mostly spades in this department.

 

Overall Ease Of Use

 

Magnum Options has been, to date, the easiest brokerage website I have ever used (and that's saying a lot because I've used LOADS). I can't think of anything that's been this easy, even back to my TD Ameritrade days. I mean, this just works and it's so incredibly intuitive; I'd call it the Apple of the brokerage websites out there. There's nothing better than being able to find what you're looking for without having to read a manual or how-to first. It was just downright second nature at times. This is a broker that I'd definitely recommend to a newbie, hands down. Your assets are going to be handled very well and your portfolio will shine with a name like Magnum Options under it. In fact, I may recommend this as the only option for beginners who really want to take things seriously and ensure the best results. Even the black and yellow color scheme is pleasant on the eyes – it's never too intrusive and looks great at night, which is usually when I do most of my trading. Definitely one of the best features of the entire broker!

 

Conclusion

 

This is probably my favorite new broker on the block and with my points listed above, there's a good reason for that. I can't think of any other group that was so young but took the financial world by storm. The customer support was fantastic as well; I never had an issue working something out and they were incredibly polite. No one seemed cold or impersonal, but rather kind and specifically working hard to make sure I got exactly what I needed. I can't say the same for some brokers, but Magnum definitely is worth every penny. In my opinion, this is probably the best possible starting point for someone looking into binary options trading, especially if they unaware of other investments that could be made. Information is accessible on the fly and thorough, meaning you won't be left in the dark. Aside from the complaint of the site being a bit resource heavy, Magnum excels! I give Magnum a 9.4 rating and I recommend it to anyone who asks me what broker I'd hand to a beginner or a veteran alike.

 

Magnum Options Minimum deposit: $200
US Traders: NO



 
       
 
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The information available on this website is only informative and should not be considered any kind of advice or recommendation. Our website is not responsible for any potential loss that might result from your investment activities. We do not guarantee nor endorse any of the brokers listed on the site. All of them are independent companies that have nothing to do with us. Investing in binaries is your sole responsibility. Any loss that you may incur is the results of your independent actions and cannot be blamed on any third party. We are not liable for the information you will find on this site.
 
 
 
 
 
 
Risk Warning: Trading in binary options is a high risk type of investment that can result in the complete loss of the invested amount. Options are derivative instruments and the potential loss is equal to the entire investment. This type of investment is not recommended for people with risk adversity and with lack of knowledge in the field.
 
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