Launched in April , MagnumOptions. Sofia, Mladost 4, BI. This company is not regulated. This Broker is most likely closed. So far nothing leads us to believe they MagnumOptions is a scam. Several reports from CommuniTraders members approve that withdrawals are being handled on time and the support service is great.
What is however the most alarming sign, discovered in , is the multiple warnings from various authorities including FSC in Bulgaria where Magnum Options claims to be located. Looking at traffic data for MagnumOptions. The drop is about 3 to 4 times their usual traffic which could be considered alarming and also related to the various warnings they have received from authorities. Trading Binary Options with a non-regulated broker carries risk. It is highly recommended to Start trading a regulated broker.
I can give the answer to that question in 5 words, not They try to be different. Magnum Options offers plenty of webinars, at the moment of viewing, they offer 7 webinars within 10 days! This person was refused a withdrawal and made the client lose money by giving out bad trading tips until the account was wiped out. The platform appeals to different types of traders: At the bottom left corner of each chart you have something called a Strategy Advisor.
Clicking on any one of them will automatically generate a trading suggestion based on the technical indicator you clicked. A countdown starts and in 10 seconds you will get your prediction: Of course, you can then check the other two indicators and trade only if at least 2 out of 3 agree. On the same note of aiming high, they offer Ladder Options which is quite interesting and I believe we will see more of it in the future.
Also, if the asset is in an uptrend and you trade Puts, the payout is huge, but of course so are the risks. Same goes for a downtrend if you trade Calls, so in other words, counter trend trading is better rewarded. That payout is not impressive to say the least, but — and this is the good part — if it expires above 1.
If my option expires above 1. The further away the expiry price is, the more you can profit they offer predefined levels. Although the features above are now common among most SpotOption brands, they still remain useful to traders. However, except for some minor changes, Magnum Options are the same as they were last time we reviewed them. Update — Finding all the warnings and scam reports it gives Magnum Options the image of another scam broker.
Another sign of being of a lack of professionalism is poor, misleading inormation about the minimum deposit being in the FAQ section but under account packages. It is a sign of a lazy broker and it has been like this since the last time we checked on them months ago! We do the search, you need to read! You can do a similar search at home, do it yourself style.
Search for MagnumOptions scams, fraud, complaints, etc and visit forums and review websites. So better look inside comments and forums posts made by users. This could have 2 reasons: Update February — Checking our comment section below we see many complaints regarding blown accounts and shady account managers.
We also mentioned the extreme drop in their traffic lately which kind of confirms our earlier theory about traders not being interesting in this brokerage.
In addition, there are numerous warnings from various regulators, especially the one from MSC which is most likely the tip of the ice berg. This Broker has been listed by no less than 3 Canadian based regulators. For Canadian traders, please see our list of trusted brokers. The Bonus policy is pretty straightforward according to their FAQ section: Therefore, in order to withdraw any funds, the preceding stipulation must be fully met and fulfilled.
According to their Terms and Conditions, the withdrawal of any funds is impossible before a trading volume of 30, 40 or 50 times has been reached this applies if the client has received a bonus.
Keep in mind that your own money cannot be withdrawn before the bonus turnover is reached. We consider this a very unprofessional tactic of tying your money to their platform.
Withdrawals are pretty standard: It takes Magnum Options up to 4 business days to process the request and additional business days will pass until the money reaches you. In this section I would like to mention of course their Ladder style options and the Strategy Advisor feature which is not guaranteed to bring you profits, but it increases your chances of a successful investment.
The platform is easy to use and has enough features to satisfy even the most experienced traders. The website is easy to navigate and well structured. Their basket of assets is composed of 74 stocks, 33 currency pairs, 8 commodities and 36 indices. All this is more than enough for any trader and you should find good trades at most times. The support is quite helpful and polite but at times it took a bit too long for them to answer my questions.
Withdrawals usually take up to 3 business days to process and additional 5 to 7 days will pass until the money will reach your account. For exact bonus conditions you should talk to one of their representatives but according to their FAQ section, the wager is 30 times the bonus amount. This broker is rated average among our members and staff. Start your trading career with a Top Rated Broker Now! Check our Trusted Brokers.
Binary Options That Suck. Please be noted that all information provided by Binary Options that Suck are based on our experience and do not mean to offend or accuse any broker with illegal matters. The words Suck, Scam, etc are based on the fact that these articles are written in a satirical and exaggerated form and therefore sometimes disconnected from reality.
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