Magnum Options Login
Logging in to the Magnum Option’ trading platform, which uses the SpotOption 2.0 software, is very simple. Its trading software is entirely web-based, so no complicated downloads are required and after logging in with your account information at the top right hand corner of Magnum Options’ website, you can begin trading immediately. Their homepage already prominently displays the trading platform, allowing you to see all the relevant charts and prices even without logging in (although obviously you have to log in to start trading).
Magnum Option Login Facts
While registering and creating an account is simple, requiring only a name, email, and phone number, in order to make your first deposit and begin trading, traders will have to submit a copy of government-issued photo ID, proof of address, and a credit card copy. This is a standard procedure applied by most binary options brokers for Know-Your-Customer compliance purposes.
More Info About Magnum Options Login
When making deposits after logging in, Magnum Options ensures the security of users’ data via Secure Sockets Layer (“SSL”) encryption and is also Verisign authenticated. It is highly unlikely that users will have to worry about data theft or breaches.
Magnum Options vs Redwood Options
Redwood Options is a binary options broker that is owned by Hampshire Capital Ventures Ltd, which is also the owner of Magnum Options. This can be clearly seen on the bottom section of both their websites. Take a look below to see how they compare.
Magnum Options vs Redwood: Minimum Deposits and Minimum Investments
Both Magnum Options and Redwood Options have a minimum deposit of $200, which is below the industry average of $250. However, Magnum Options has a standard minimum investment amount of $5, whereas the minimum investment amount for Redwood Options is $10 (except for 60 second options which have a minimum investment amount of $5 also). This is a little puzzling to us, because the 60 second options offered on Magnum Options actually have a higher minimum investment amount of $25, which is higher compared to the typical amount.
Magnum Options vs Redwood: Maximum returns and Maximum Investment
Discounting ladder options, which can have returns of up to 1500% (similar for both Magnum Options and Redwood Options), the general maximum return for both Magnum Options and Redwood Options is 81%. However we note a discrepancy between what is displayed on Redwood Options’ website banner (up to 81% returns) and on their FAQ, which states returns from 70% to 85%. Nevertheless, given that both these brokers have the same owners, there is likely no difference in their maximum returns.
The brokers differ when it comes to maximum investments however, with Magnum Options having a maximum investment amount of $1,000 (higher on 60 second options at $3,000). Redwood Options has a higher general maximum investment amount of $5,000, however maximum investment amounts on 60 second, one touch, and ladder options are lower at $500. Similar to the minimum investment comparisons, this is one area in which there is a clear discrepancy.
Magnum Options vs Redwood: Maximum bonus and other features
The maximum bonus offered by both Magnum Options and Redwood Options as well as their associated policies are similar. Platinum account tiers get a 100% bonus, and their withdrawal policies on bonus-credited accounts (minimum trading volume of 30 – 50x the bonus amount, 20x in the case of refunds) are exactly the same. While the absolute figure of the minimum trading volume requirement is likely lower compared to the industry (which typically applies the multiplier against the total of deposits plus bonus), they still restrict withdrawals on both the bonus and deposit until said trading volume is met. Again, we want to emphasize while this is the standard industry practice, it is still viewed negatively and there are some brokers who do not have this restriction; such brokers restrict withdrawals on the bonus portion only until the minimum trading volume requirement is satisfied. This is clearly a more customer-oriented policy and one that we recommend.
Special features offered are also similar across both these brokers, for example the Strategy Adviser or Scanner tool which allows automated technical analysis recommendations based upon a preselected technical analysis method. Ladder options and forex trading is also available on both, however we note that only Magnum Options offers the candlestick chart feature. Magnum Options also offers the ‘Buy Me Out’ feature, which allows a trader to close their position prior to the official expiry time, where the system makes an automatic payout calculation based on historical data to determine the likelihood of the option expiring in or out of the money had it not been closed early; Redwood Options offers no such feature. Both Magnum Options and Redwood Options use the latest SpotOption 2.0 platform.
When it comes to the list of assets available to trade, Redwood Options is clearly superior. While Magnum Options has 87 different stocks, 24 different currency pairs, 9 different commodities, 55 different indices, and a further 11 specific pairs, which is already considered highly extensive, Redwood Options offers a whopping 115 different stocks, 32 different currency pairs, 9 different commodities, 37 different indices, and a further 25 different specific pairs. Other than the number of indices offered, Redwood Capital is the definite winner in this one.
Magnum Options vs. Boss Capital
Boss Capital is a binary options broker owned by Cheshire Capital Ltd. How are they related to Magnum Options? Well, based on checking with the UK company database, it appears that not only are they registered at the same address within a few days of each other, they also have the same listed company director, a Mr. Manford Martin Mponda. Hence, while having separate owners, it is highly probable that Magnum Options and Boss Capital are ultimately owned by the same entity.
Magnum Options – Boss Capital: Minimum Deposits and Minimum Investments
Both Magnum Options and Boss Capital have a minimum deposit amount of $200, which again, is below the industry average. However Magnum Options has a lower minimum investment amount of $5, compared to $10 for Boss Capital.
Magnum Options – Boss Capital: Maximum returns and Maximum Investment
For standard options, Magnum Options offers returns of up to 81% while Boss Capital offers returns of up to 85%. We should note that the industry standard maximum returns are typically 85%, meaning that Magnum Options is actually below average in this respect. When it comes to maximum investments, Boss Capital allows far higher amounts: $7,500 compared to Magnum Options $1,000 ($3,000 in the case of 60 second options).
Magnum Options – Boss Capital: Maximum bonus and other features
The maximum bonus offered by both Magnum Options and Boss Capital is exactly the same. 100% bonus for their platinum account tiers, with the exact same bonus withdrawal policies (see Redwood Options comparison above).
In terms of features, Magnum Options is far superior; offering ladder options, forex trading, candlestick charts, and early option closes. Boss Capital offers none of these features; in fact, its features are assessed to be highly basic. The asset index offered by Boss Capital is also far less extensive compared to Magnum Options with only 44 different stocks, 24 different currency pairs, 8 different commodities, 28 different indices, and a further 14 different specific pairs. This is in contrast to the 87 different stocks, 24 different currency pairs, 9 different commodities, 55 different indices, and a further 11 specific pairs offered by Magnum Options. BossCapital utilizes the TechFinancials trading platform, compared to Magnum Options’ SpotOption 2.0 platform, which likely explains the large discrepancy in terms of features offered.
Magnum Options – Boss Capital: The Verdict
After evaluating all the factors above, it is clear that Magnum Options is a better choice for traders who want a wider variety of options and features but who are not too concerned about making overly large trades (as Magnum Options has a much lower maximum investment amount). Boss Capital would be a better choice for traders who want to keep their trades simple, with no use for any special features, but may want to make larger individual trades. Boss Capital’s maximum investment amount of $7,500 would definitely facilitate this.
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