Magnum Options Review

Magnum Options Review Magnum Options is a binary options broker owned by Solaris Vision Ltd., located at Mladost 4, Bl. 428 Entrance 1 Floor 1/3, Sofia, Bulgaria. They can be reached in the UK Toll Free: 0800 680 0683 or Canada: (800) 986-6891.

Their email is support@magnumoptions.eu, for trader complaints see here.

Scam Trading Software

Trading Signals Scam

Warning: You will probably lose money using a scam trading software, see why.

Be smart & use the popular auto trading system from: http://BlackBoxRobot.com.

Magnum Options Review

When reviewing their trading platform, we see they are using the popular SpotOption trading platform which offers traders over 250 assets to trade.

The maximum return on options at Magnum Options is 81%, the minimum trade size is $10 and the minimum deposit is $250.

Magnum Options is a binary options broker that focuses heavily on traders education. Their education department is staffed with many representatives speaking many languages to give their global traders the help they need in understanding the various binary options available. They hold live webinars, one on one training for traders, and an online library of trading videos and eBooks.

Special Offer: Receive a 100% Signup Bonus, see here.

Brokers License

ASIC Australia Warning

“ASIC urges all investors considering trading in binary options to check they are dealing with an entity that holds an Australian financial services licence.”

HighLow (read review) is an Australian ASIC licensed broker that you should go with, visit HighLow.net.

When the scam broker investigator looks at a binary options broker to determine if it is a scam or a legit binary options broker, we want to know if a regulator like the CySEC in Cyprus gave them a license and if they fall under the MIFId rules in Europe?

Magnum Options is not a licensed broker.

You can find a local licensed binary options broker here.

Compare Magnum Options

There are many binary option brokers to choose from, for the list of Most Popular Brokers, see here.

OX Markets (read review) is licensed by CySEC in Europe and uses the SpotOption trading platform, see here. Many people use them with the popular auto trading software from BlackBoxRobot.com.

Daweda Exchange (read review) is a popular binary options exchange licensed by CySEC, look here. They have a built in Auto Trading System which is very popular, visit: http://Daweda.com/ATS.

Magnum Options VIP Brokers

Open Account

What do you think about Magnum Options? Are they a scam broker? Are they a legitimate broker?

Please share your review of Magnum Options in the comments section below.

 

Magnum Options Review

Magnum Options Review Magnum Options is a binary options broker owned by Solaris Vision Ltd., located at Mladost 4, Bl. 428 Entrance 1 Floor 1/3, Sofia, Bulgaria. They can be reached in the UK Toll Free: 0800 680 0683 or Canada: (800) 986-6891.

Their email is support@magnumoptions.eu, for trader complaints see here.

Scam Trading Software

Trading Signals Scam

Warning: You will probably lose money using a scam trading software, see why.

Be smart & use the popular auto trading system from: http://BlackBoxRobot.com.

Magnum Options Review

When reviewing their trading platform, we see they are using the popular SpotOption trading platform which offers traders over 250 assets to trade.

The maximum return on options at Magnum Options is 81%, the minimum trade size is $10 and the minimum deposit is $250.

Magnum Options is a binary options broker that focuses heavily on traders education. Their education department is staffed with many representatives speaking many languages to give their global traders the help they need in understanding the various binary options available. They hold live webinars, one on one training for traders, and an online library of trading videos and eBooks.

Special Offer: Receive a 100% Signup Bonus, see here.

Brokers License

ASIC Australia Warning

“ASIC urges all investors considering trading in binary options to check they are dealing with an entity that holds an Australian financial services licence.”

HighLow (read review) is an Australian ASIC licensed broker that you should go with, visit HighLow.net.

When the scam broker investigator looks at a binary options broker to determine if it is a scam or a legit binary options broker, we want to know if a regulator like the CySEC in Cyprus gave them a license and if they fall under the MIFId rules in Europe?

Magnum Options is not a licensed broker.

You can find a local licensed binary options broker here.

Compare Magnum Options

There are many binary option brokers to choose from, for the list of Most Popular Brokers, see here.

OX Markets (read review) is licensed by CySEC in Europe and uses the SpotOption trading platform, see here. Many people use them with the popular auto trading software from BlackBoxRobot.com.

Daweda Exchange (read review) is a popular binary options exchange licensed by CySEC, look here. They have a built in Auto Trading System which is very popular, visit: http://Daweda.com/ATS.

Magnum Options VIP Brokers

Open Account

What do you think about Magnum Options? Are they a scam broker? Are they a legitimate broker?

Please share your review of Magnum Options in the comments section below.

 

Reviewed by Scam Broker Reviews
  • Peter Freeman

    The button to verify my email address doesn’t work, but leads back to the registration process I have already completed. Also my smartphone tells me their site’s security is not trusted. Any updates on these experiences, anyone?

  • Clif

    I’ve been using Magnum Options and have been happy for the most part. However, DO NOT, I repeat DO NOT accept any type of a deposit bonus. The bonus causes the recipient to incur a 40% trading volume limit prior to being able to withdraw any funds. Meaning, if you accept a $5,000 bonus then you’ll have to make $200,000 in trades before being able to withdraw funds. So unless you trade a massive amount of money (and routinely win) then you’ll never get any funds in return. Additionally by accepting the bonus you will not be able to close your account until you reach the trading volume.

    • Glen McGowan

      How are things going now Cliff, I see its been 7 months ago that you posted this ?

  • Anil Patel

    I signed up with magnum options with a bonus requirement. After a few months 100% of requirements were met, Which would make me eligible for a bonus. I tried to withdraw money from account but they refused,

    • Bob

      I just signed up and have been going through the Internet to find anything about Magnum. It’s good to see that there is a place to maybe find out how others are doing and what they are dealing with. Keep in touch!

      • Glen McGowan

        Yes also recently signed up, always looking for information

    • Glen McGowan

      Hello Anil
      If you have met the requirements, why have they refused the withdraw ?

      • Anil Patel

        I joined magnum options around last Summer. They seemed fair and willing to train. They have these accademy lesson, which give you good lessons on trading these options. At first I was listening to th broker assigned to me but that broker was no longer with the company. I decided to do my own trading which I had outstanding results. I chatted with them more often because everytime I call I only get this old club type of music. Nobody answers. The most frequent chats I had with them is status of my requirements. For example they say you have 30% left. Then 5% or you reached 95%. When they stated I reached my bonus requirement, I tried to make a withdrawal they denied saying I did not trade properly.

  • Glen Farr

    ***WARNING*** Magnum Options will trap you with bonus. Do not invest with this company.

  • disqus_uNA8SqL6Ho

    should i invest in magnum option? seems like everybody is having a problem using it.

    • Alaa

      Nooooo

    • dont touch them or ubo capital scammers

  • Glen Farr

    Even if you take a bonus and trade the 30 – 50 times bonus turn over requirements they still control the withdrawal and refuse to give you your money. That and other unethical practices make them an unsuitable investment platform. I would not trust them with your money

  • Louise DeBourbon

    I just joined but haven’t made a trade yet. anyone know if I can get my money back?

    • johnny spineto

      please… read this page, and DO NOT SEND ANY MONEY

  • Elena Bryant

    Hi, I made the mistake of accepting a bonus under absolute dishonest circumstances and am struggling to get my money out – am hitting my head against a brick wall. Has anyone here succeeded in getting their money back? How did you go about it? thank you in advance,

  • Elena Bryant

    How will you go after them? what approach? I am presently unable to get my money out and have no idea how to go about doing anything about it. They simply refuse and i feel so powerless to address this company. If is was a company in my now country i would have legal recourse but what about an overseas online platform? I have no idea what to do or where to turn now. Hit a brick wall with them. Any thoughts or idea, help appreciated

    • Sam

      got my money back today. I didn’t trade with that money no matter how many magnum-minions called me and urged me to trade. also I threatened them. And now canceled my card and applied for a new one with the bank. cos after I joined up with magnum, I started getting a lot of spam about ‘lost money’,’frozen bank accounts’, phisting sites, etc – the card might have been compromised too. They are crooked. oh well. good luck. bye.

  • valcina latham

    Magnum is fraud big time, keep you money don’t try to invest with this company, I am so happy I didn’t recommend them to anyone I know, There should be something clients can do to get their money back. GTOptions is also a scam.

  • Terry Helliker

    I wish i would have found this site before i got tricked into thinking i was doing the right thing. It just all seemed so real at the time. Received several calls from them as well as a bunch of emails.Once I made that deposit, it was too late. My “rep” turned into a monster. Very pushy and unfriendly, always wanting to call me. Now I am fighting to get my money back but they want me to send them all kinds of personal information which I am refusing to do – so you guessed it, they wont give me my money until I give up all my info.

  • Brett Davies

    This is an absolute scam. They trade under a name called Red Tulip Consultants located at a ‘haven’ address with a thousand other scam companies. One director at this company called ‘Felicity Jane Schofield’. This is a stolen name. This company has not filed a return and has not submitted a turnover report because they are a scam. I lost $15,000 with them. The so called ‘account manager’ Zoe Richardson recommended 15 trades. All of them lost. She disappeared from the organisation. I got barked at when I placed my own trades. They are not a licensed broker. I have asked for copies of the bank trades statements against the trades I placed..no response from the head account manager to any of my multiple emails. When I asked for an explanation, they asked me to deposit more money. In my opinion, the trades never existed and the money is an extortion. The only way we will retrieve any money is to petition a class action against them and seek a legal firm willing to work pro bono. I have spoken with Australian Federal Police and Interpol who have both advised me to make a complaint to British police. You won’t get your money out because it went when you deposited it. This is not to mention the sudden downhill spiral on a trade after it was steadily going up for an hour and then at the last five seconds the page gets disrupted and … What do you know?? Your trade LOST!!!

  • Glen Farr

    Martin Gaines does webinars for Magnum Options. When He and his team took over my account a few months ago there was $36,000 still in my account. In a month there was only $2,000 left. They will not respond to my attempts to contact them. They did not use any of the strategies Mr Gaines demonstrates in his webinars. I have been a client for over a year and can still not withdraw because I am trapped with bonus trading requirements. I was told by a previous account manager that I could withdraw some money in Dec of 2015. Just before that date I was told he was promoted within the company. Later I was told he was fired. They do not keep their word. They have no honor. In the time I have been invested with them I have had four managers. I was told different opposing stories from each one about company policy and procedure.

  • Kerri Stewart

    Arrrg, I signed up a few days ago with $500 and was contacted by Jacob Goldberg. He stated I really had to start with $5000 or I would just lose my money. I said I wanted to try first and he told me what to do and said he always wins and I clicked as he said. We made two trades ($200 and $300) and both lost. That was it. Now my account is at 0 and they cancelled it (I can’t get in anymore).

  • Kamu

    Yes Magnum options is a scam. You will loose all your money no matter what. Brokers I had dealt with were Amy Miller, Zoe Richardson . USD$100K has gone. I have got the recordings of their conversations. Warning please do not put any money to magnum options.Currently got a recovery person trying to build the account. So far no luck

  • Nasser

    It looks like everybody has the same story and trapped in this company’s website. It should be thousands of victims out there and different countries. If someone knows where is their real office and locations, then we can have plan with police or anti cyber crime organizations to find them before to late. I am sure if all of us try to get information from justice system or Interpol and share it with others, we can get our money back with all damages they have done to us before
    I am wondering if anybody has got any amount of money from them? or just it never happened and won’t be happen!
    I have also been fooled by my account manager (Sam Danielle) too.
    The company must have some track somewhere with the name of founder. I am sure we will get our money back once we find the right anti crime organization in our countries.

  • Karin Evans

    Single Mum scammed big time by a female broker named Natasha on apple trade, wanted money to help son at uni , customer service waste of time , how do these people get away with treating people this way ? lean’t a very painful lesson . please do not trade with this company .

  • Karin Evans

    Same here , on the same trade too

  • MAR BERG

    Do not give any money to Magnum Options. Once you deposit you will have not control over it. Professional scammers that will tell you what you need to hear to deposit the money. And then it is gone. They are trading from Bulgaria, good luck getting money from there. Once you deposit money, the next thing you will loose money and listen to insults. Is this what you want?

  • Paul Martyn

    I have had the same problems as everyone else.
    I suggest we all make complaints to our local securities commissions about Magnum (this is ASIC in Australia). That way we can get them blacklisted and hopefully prevent others from getting ripped off like we were.
    The Australian site Scamwatch does not currently list them as a scam company – we need to change that!

  • Cheryl Mitchell Schultz

    I have been waiting a week for refund of my deposit. They don’t even respond

  • Vahid Bahreman

    One more thing, Magnum Options manipulate the currency lists when you are on a win streak with one currency. You see often the list changes and some currencies that you play with and you win you won’t find it in the list for a while. I have experienced that a lot! They are a bunch of scumbags that just want to steal money from their customers. That is a fact!

  • berrys

    my husband and i started with them back in october 2016. we deposited £300 and within a day we had doubled the money. when we requested the initial deposit back we was faced with having to “verify” our account before we could withdraw the funds back to the same card that we paid with. it took 3 times of sending the details through before they made the payment. after that all we kept getting was phone calls asking for more money, 1 day we had 4 calls within 1 day all from different people. At the beginning of december we had lost over half of the profit we had made due to the trades we were doing suddenly going the total opposite way of what they had been doing and all happening within the last 2 minutes of trading. so we decided to withdraw the majority of the money we had made but left a small amount in the account to have a play with. we were told it would take 4 working days for them to process the request and it would be sent to us via wire transfer. we made the request on 4th december 2016 and it took them over a month and about 10 emails and 3 conversations with the “customer service” team before they finally processed the payment on 10th jan 2017. have since found out that magnum is not a licensed company for trading and is actually based in bulgaria. i know i most likely won’t get the remaining funds out of my account so if i lose it then so be it. there’s no way i’ll trust magnum again and will be closing account asap.

  • Akeric

    its a scam company, they are aggressive to take whatever you have from your credit card above all transfer methods.

    There platform looks like eye candy but you want to make money and they exaggerate, use whatever tactics to lock you in, into there terms and conditions that the money you deposit, you will never take out. Gary Tricket says that its to differentiate between clients that are serious in making money after knowing that there “risk free trade” means being locked even deeper in their shit hole of a game.

    Then he is comparing the free trades with loans. As they switch around to evade their responsibilities when they recommend you losing trades, the prior broker that I had was Paul George, he made me believe, deposited more money gave me a bonus and a month later got screwed over, one of the trades did not work and Paul George seemed to have disappeared, hence the Gary Tricket guy called.

    They seem to boost their credit by mentioned they are senior brokers above the prior guy you contacted in their web of deceit.

    Prior to them the broker was Scott something, he left, he locked me in with their TOC at first when I just starting out with my own fresh money, exaggerated this compounded effect in making small but guaranteed returns by showing me this pictorial, I think they use the same template over and over again for marketing purposes as I’ve seen Paul George use it in his email campaigns.

    Well with Scott the trade did not work, he seemed to have bailed or the company fired him without notifying me and I was screwed and worried, and then the Paul George guys comes in.

    All in all, if you just want to be serious stay in the game for 40 years or forever without withdrawing then this is a place for you, otherwise its major SCAM.

  • Treena Rogers

    Hi All, Please contact your mastercard or visa company and file a complaint/dispute. I have gone through all of this. Magnum Options is a huge scam. They lost 7,000 of my money. They are con artists. So far I have been able to get 3000.00 of my money back from my mastercard. I am still working with my credit card company and hoping to get it all back. I have copy and pasted all these complaints and sent them to mastercard. The credit card companies really need to be protecting us from these scams. The more complaints sent in to the mastercard/visa companies, the better.