Magnum Options Review
Magnum Options is a web based binary options broker with a broad appeal. They are one of the top platforms that does this. If you are new to trading, or just looking for a new broker to use, this is a top choice and worth an in depth look.
What makes this broker special is the fact that besides their high payouts—up to 81 percent on a normal trade—they also offer rebates on losing trades. Many brokers do offer this, but at the expense of their profit rate. For example, it is easy to find a broker that has a 10 percent rebate if you’re incorrect, but only a 65 percent return on your trade. Magnum Options offers 81 percent returns and 10 percent rebates, making them one of the most profitable brokers out there for their clientele.
With a huge selection of options to choose from, this is a great broker to begin a trading career at. They have many different assets to trade, but they also have many different types of options, too. You can trade currencies, commodities, indices, and stocks with your standard call and put options, pairs, one touch, and ladders. They offer long term trades—up to almost a year in length—as well as short term options—as low as 60 seconds in length.
It’s free to open an account, and a minimum deposit is $200. This is much cheaper than most other brokers, making it more accessible to the general public. On top of this, the interface is easy to use and understand, making the chances of making a mistake a lot less. This means your money is likely to go a lot further. However, in the event that you do need help, customer service is open 24 hours a day, every day. It’s a little thing, but it does show that this broker actually cares about their customers and helping them to be profitable. After all, when you are making money here, they are too. The best brokers know this, and take steps to keep their traders supplied to make trades on an ongoing basis.
Tips for Success
This broker is great for beginning traders, but once you find your niche, you do not want to be overwhelmed by the sheer amount of choices that you have here. At a thorough broker like Magnum Options, it’s really easy to just try a little bit of everything, never settling down and perfecting one single type of trade. Some people can be profitable doing this, but not many. And no one can be as profitable as possible doing this. Your best bet with this broker is to try their different products out for sure, but once you find the right one for you and your money, settle there and only experiment once in a while. This might seem boring, but it will give you a huge boost in your profit rate.
Next, check out their Academy. This is a series of classes designed to take your trading to the next level. These range from beginning lessons, up to advanced classes. Of particular interest should be their Trading Psychology class, as this is a key part of trading the news. This involves a specially timed trades in order to take advantage of news and press releases, as well as announcements and other similar activity. When these things are significant, traders react and prices change. If you know how to anticipate these things, you can boost your profits by focusing only on trades that you have a better knowledge of the outcome on.
Finally, if you have friends interested in trading, you need to look at their Refer a Friend bonus. This is extra cash put into your account just for getting your friends to sign up for an account and start trading here. Once you trade 30 times the bonus amount, the cash is yours to keep and withdraw, if you wish. 30 times the bonus amount is on the lower end of the industry standard, and is a very good deal.
Binary options are a great tool for creating bigger profits, but this isn’t true for everyone. Binaries work for some, and not for others. The good news with this broker is that they offer so many choices with such great profit rates (plus rebates on losses) that they are more likely to help more people find that binary options are the right type of trading for them. Magnum Options is a top broker, with a top product to offer.Read More About Magnum Options Review