This Broker is Out of Business!
Magnum Options was 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 [email protected], for trader complaints read this.
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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.
No 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.”
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 good legal binary option brokers to choose from, you can see the list of Most Popular Brokers, see here.
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.