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You can choose which traders you want to follow and then copy their trades with the click of a button. One of the best features of the BinaryCent trading platform is the ability to copy the most successful traders. This copy trading feature is especially useful for beginners that are still learning how to trade binary options.
Payouts average around 75%, which isn’t too high, although losing trades come with a 10% return which can help control losses. The list of underlying assets available to trade through the Magnum Options broker is fairly solid, with around 60 different stocks, indices, commodities, and currencies. As part of the SpotOption platform, there are 60-second and one-touch trades along with an
binay option builder and the ability to sell trades back early or extend them if they are in-the-money. Pairs trades are also available where you predict movements of one asset compared to that of a second asset.
The well-known five-tier account structure is offered at MagnumOptions.com. Depending on the initial amount deposited, traders are treated to different accounts ranging from Standard to Magnum Elite. The biggest difference between the levels is that the higher the account level, the more you are eligible for in Magnum Options bonus money, as well as the higher amount of personalized features such as one-on-one coaching and expedited withdrawals. Most banking is done through credit card transactions, with larger deposits and withdrawals possible via bank transfer.
However, the draw of Magnum Options is not that they are unique, but the fact that everything they do, they do extremely well. For casual and part-time traders especially, a reliable, straightforward, and powerful trading platform is exactly what is called for, and that is exactly what you find at MagnumOptions.com. Everything that Magnum Options offers can be found at other online options brokers.
Many brokers allow you to create free demo accounts to test out binary options trades with fake, virtual currency. Demo accounts are beneficial for users still learning the ins and outs of trading binary options. You can use these accounts to see how your choices affect whether you win or lose money, helping you become more confident before using real funds.
There is a guided tour of the platform on the site, which is a great way to learn how it works and almost makes up for the unfortunate lack of a demo account. The platform scores points for its reliability and speed. Live Magnum Options online support is available 24/7 in various major languages in case an issue arises. The web-based trading platform at MagnumOptions.com is powered by the SpotOption engine, which is used by the vast majority of brokers due to its superb quality and simplicity. Likewise, vast educational resources are nowhere to be found, although some trading tools like updated market recaps are useful.
Many brands use the SpotOption platform including TradeRush and Redwood Options which incidentally accept US traders as well. To see a full list of regulated US brokers, check this post. SpotOption is the first of the platforms located in Cyprus to receive the CySEC license. Recently CySEC (Cyprus securities and exchange commission) enacted a law stating that all binary options brokers in Cyprus must be licensed and be subject to regulation. Binary options brokers have not been subject to specific laws which secure customers accounts and enforce fair play. Most binary options brokers operate out of Cyprus, therefore this law will subject most brokers to regulations.
In 2007 the OCC (options clearing commission) made a rule change which allowed for binary options trading. In 2009 the CFTC started regulating brokers and Nadex was the first to offer a range of binary options from different asset classes. Originally, binary options were illegal in the US. Most, but not all, binary options brokers allow US citizens with US bank accounts to open accounts.
The platform is easy to use, yet remarkably powerful, which in the end is a great path to profits. But for many traders who don’t want to spend the money on extra bells and whistles that other broker offer, Magnum Options may be the perfect broker. No one will look at a Magnum Options review and think that they are the best binary options broker in the world.
Again, a point for binary options – this way the traders can enjoy the highest profit rates, even if the difference in the price is as tiny as a penny! Binary options focus on the direction of the price. There are no spreads, pips, and other limiting factors. Since the direction of the price can be either according to your binary option, or in contrast with it, the profit is fixed – as it does not depend on the difference in the price!
