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Quick Magnum Option Review

  • Official Website:
  • HQ: Gibraltar
  • Phone: 1-800-986-689                                                                                                                                                                
  • USA Traders Accepted
  • Trading Platform: SpotOption
  • Not regulated (no CYSEC Regulation) – They accept USA traders
  • Up to a 100% Deposit Bonus
  • $200 Minimum Deposit
  • Brand backed by reputable binary option company (same as TradeRush)
  • Early Close
  • 10% refund for out of the money trades
  • Free auto-trading software (be careful using this)
  • Payouts ~75%-80%

Interestingly enough, this is one of the only brokers I have seen that seems to have a clear understanding of CFTC regulations governing USA traders. In their terms and conditions, they state, “USA citizens are restricted on this trading platform from trading currencies and commodities due to U.S. regulation by CFTC.” Simple. You can trade stocks and indices. It is really refreshing to see a broker that has this figured out, instead of simply banning all USA traders—or operating without regard to regulations.

Is Magnum Options a Scam? – Legit or Not?

Magnum Options receives good reviews, understands CFTC rules (again, very good for an unregulated broker), and is operated by a company we are familiar with. For all of these reasons, we feel reasonably ok with trying them out. Want to read comments from other site visitors? Scroll down to the bottom of the page to read reviews from other traders just like you—or leave your own!


Is Magnum Options Right for You?

To make an informed decision, you need to have an in-depth knowledge of what Magnum Options is offering traders. Let’s look at their terms for deposits and withdrawals as well as the types of options you can trade.

Deposit Info – Magnum Options Minimum Deposit

Begin trading with as little as $200.
Deposit methods: Credit or debit card, wire transfer, MoneyBookers or SOFORT.
Trade in EUR, USD, GBP, JPY, AUD, CAD, or RUB.
Up to 100% match bonus or 10 risk-free trades!

We love that there are so many currencies you can choose from! Keep in mind that the minimum withdrawal threshold is $100, so I recommend you deposit more than $200. This will simplify your life. You can make a single withdrawal per month for free; past that you have to pay a $30 fee (not unusual). Account tiers start at $500. The higher your deposit, the higher your tier, and the more extra benefits you get, including live webinars, signals, indicators, account management, and so much more. There are lots of excellent resources at the higher levels! And it is great that you can opt for risk-free trades instead of bonus money. This is financially a much smarter decision for sound money management!

<h3?Types of Binary Options Available

Long Term
60 Seconds
One Touch

This is a nice assortment of trade types. High/Low trades are your basic binary options where you choose a direction (up or down) and wait to see if you win. Long Term and 60 Seconds are special High/Low trades which you can stay in for a very long or short time. With One Touch trades, you profit if price hits a certain trigger value. Pairs trading lets you profit based on the relative performance of two stocks. Ladder trades let you profit “rung by rung” up a series of pre-determined trigger points. On Magnum Options, you can win up to 1500% on a Ladder trade!

Supposedly, Magnum Options will be offering Forex trading on the same website. It is prominently mentioned in the FAQ, but does not appear to be a current site feature. I can only assume this means they are in the process of adding it to the platform.

Final Thoughts on Magnum Options

As is no surprise, Magnum Options appears to be an excellent broker. They offer flexibility in every aspect of your trading. There are a huge number of assets you can choose from (around 150), and a lot of different ways to trade. You can choose to accept a bonus or opt for risk-free trades instead, and you can trade any amount from $5 to $5,000. Magnum Options is run by a company with a strong reputation. It is tough to find great brokers offering services to USA traders, and even rarer to find a broker that understands USA regulations. We really like Magnum Options, and we think you will too!

Trader Reviews – Ratings & Comments

Please post your honest opinion about Magnum Options ( and help other potential traders decide if Magnum Options is a legit binary options broker. is driven by trader based reviews, ratings and comments about binary option brokers, auto trading tools and signal services. Please leave your honest opinions and ratings below to help make us the most trusted binary options resource on the web.

  • Alfredo

    I have similar story than many of you. has any body manage to get to an authority that nail them so we can get the money back?

  • Melvin

    Did anyone tried wealthrecoveryinc to help getting your loss money from magnum options?

  • Jay lee

    it is shit site
    as it scam me 6.5k for joining the bonus and said it is risk free the aim is to trap all your money inside the site, fuck website and broker as well as all the account manager are shit as they just want to cheat your money and ask you to deposit more, i hope they have bad karma in their life forever and next life. and their generation, all evil peoples inside.

  • Denny

    It is scam site. It is really difficult withdraw money.Don’t deposit money.!!!
    I requested my card cancellation the day after deposit. I did not any trade. I just joined and deposit money. But they refuse money back because they request more exact document information. Even though win the game there is no way to get back money.

  • James Bloo

    Hi – i got started with MO in Sept 2016. i started with 5k initial investment, invested a further 10k and successfully withdrew 5k. a positive from the successful withdrawal is the account manager actually CONTACTED ME to help expedite the process. whether its all part of some roundabout way of getting my trust i don’t know but the simple view is that this is to be taken as a positive sign.
    profits wise i cannot complain about MO. I have made 25k in 5 months and all from their tips followed by and large to the exact $.
    the issue/question i face is withdrawing the remaining original investment and the profit.
    having read the various bad experiences i will try to make the right noises and if the profit continues to grow look to drip feed some more out.
    it seems a call that says you are getting suspicious or worried will be counter productive.
    i am not worried about their quite pushy manner in trying to get more money. they are a business end of day.

  • jan

    i am worried now, since they forked £2700 from will i withdraw my money ? hope i can..

  • Steven Clark

    Being new to binary options and inquisitive about them as an investment option, I joined initially with US$250.
    Quickly I had a smooth operator on the phone to me saying he was a senior analyst talking up binary options and asking me to deposit another US$9,750 on the promise that he would personally manage my account and wanted to turn my account into a managed one (US$100,000) and received a bonus. I duly did. NEVER APPLY FOR THE BONUS – YOU WILL NEVER GET YOUR MONEY OUT.
    I then dutifully did all the Academy courses and was given some one on one training also.
    Initially he provided signals to me with some success.
    Then things went pear shaped pretty fast.
    I got an email from him saying he was leaving Magnum Options.
    Another analyst then emailed me saying she had taken over my account.
    I received a call from her. She was only interested in me investing more and when I told her that I would not until I saw a return on my investment, she quickly disappeared.
    This same approach repeated itself with a succession of account managers.
    I then went hunting for signals myself with various apps but without success.
    My balance has dwindled and I am resigned to having lost my money.
    In my experience and opinion, Magnum Options is a scam.
    It promised a level of support which was not forthcoming. It knew that left to my own devices, it would get my money eventually.
    All support and signals evaporated long ago.
    And why would it help me to make money anyway. It is Magnum Options that would have to pay me out after all.
    I’ve learnt my lesson, and if anyone is contemplating joining Magnum Options, my advice would be DONT.

  • Amelia

    This guys are trained robbers, I put in £2,720. After all the interested made was taking away by them obviously, I tried withdrawing my capital and I was sent an email saying , I can’t withdraw, it’s so unfair that lies are been told to the public. Something has got to be done, who has an idea what legal actions we can take to recover our monies. I don’t want to let go of my hard earned money.

  • Melvin

    I have my money hunging inmy account. Who can help me get that money back to my account.

    Please help

  • brian karchuy

    I don’t know what planet you are living on. Magnum Options was in constant email and phone contact with me till they had $US 54,000 of mine in their clutches, but they would not answer any questions I posed about my account, not even to give me a statement showing the amount invested, the amount earned, and all those financial disclosures any reputable company would provide without having to be asked. Now that I have had it up to the back teeth with them, and told them I want my money back, there is just stone cold silence from the ‘account manager’ and the accounting department. I am having to accept that I will never see my money again. What I need from you is information on how I can proceed from here, assuming that you hold to your glowing recommendation. I’d be thrilled to be proven wrong about them.

    I’ve discovered that I’m not alone. Thus far I’ve read about 100 accounts from people around the world, all of them describing the same dismal scenario. If you really believe what you said about MO above, send me information in how to make this right, like an address connecting me to anyone in that organization who will see that justice is done.

    If I don’t hear from them soon, I’ll begin forming an international vuctims’ network with a view to exposing this scam. There must be at least one authority that can turn the thumbscrews on them. Meanwhile, I suggest you stop saying they are reputable, as you are only sending other people into this giant trap.


    • Dayjay

      Don’t be deceived by the recommendations given about Magnum options.I had some trades in open positions and also had over £10K in the account for withdrawal. These guys did not answer my emails. Of course you can’t get them on phone. After a month, one account manager called me that since I had already lost over £20K that they micro-manage my account all by themselves with the £10K in my account to bring my account back to what I had already in 3 days, then I can withdrawal my invested capital. I refused, but this guy kept pushing over and over. At that point, I knew my money wasn’t coming back. I told them to go ahead. They traded with the money with the space of an hour, and every pence was gone. If they have not traded with your money, keep pushing to get your money back. DO NOT AGREE TO TRADE WITH YOUR MONEY. Pease do not fall for any positive review about magnum options..

    • Steven

      Try wealth recovery they know where in Israel they are based and have dealt with them before.Or you can try fair binaryoptions they can help

  • Dayjay

    I just lost £21,500 with magnum options. I wish someone had advised me before trading with them. Please run when you hear the name magnum options. You would lose your money. These guys are trained scammers, pushers and thieves.

  • Liz.

    Wow how did I miss these reviews😔 I googled this site and went on their recommendations that Magnum Options was legit. Obviously I didn’t scroll down to reviews.
    I have found the same treatment, I deposited the minimum amount of $300AU within 24 hours I had a call from the company wanting $1000. Told them I didn’t have that about to invest.
    Couple of days later in conversation they discovered I had a small business they then wanted $3000-$5000. UNFORTUNATELY I BORROWED $3000 and deposited in Magnum Acc. The lady was very pushy. Insisted to get maximum benefits I needed up to $10,000.
    Advised them if I had a lazy $10k hanging around I sure as hell would not invest it on an Overseas Company.
    Continued ringing non stop up to 5 times a day.i just ignored their calls.
    It was just harassment from them.
    Had another company ring from America conducting a follow up survey regarding Magnum Options. I gave them a blast and said they were a bunch of crooks, with harassment tactics.
    BIGGEST MISTAKE I HAVE EVER MADE IT LOOKS LIKE I HAVE LOST MY $3000 and worst of all I borrowed it at 16.5% interest.😡😡😡
    I tried to email my id docs through and that’s when the penny dropped for me as my email was returned to me as ( the Magnums Rep email did not exist..?????)
    So now here I am writing my woeful little tale with Magnum after reading everyone else’s experiences. I really thought they were legitimate, WHAT AN IDIOT I WAS 😳😡😡😡

  • Vikki

    How can you rate these guys this well when there are so many negative reviews? nakes me wonder if your site is legit

  • clara

    Are they really located at 1421 Sofia City, Sofia District,
    Metro Municipality, Lozenets Region, Kozhuh Planina
    No. 17, Bulgaria.

    • a123

      I think the address is all false.

  • clara

    My account is still open, has almost $145,000. I tried to withdraw, was denied . Sent 1 M e-mails but I can’t . Please keep out

    • a123

      wow you have so much money in their account, its very dangerous.
      I too deposited small amount of funds and all lost. Then the account manager keep on calling and calling.
      after reading the remarks given by all the people in this blacklisted forum. I think I’ll stop investing with them any more.
      All the people working in magnum options are shit!!!! and evil people from HELL!!!!

  • Sheldon

    I activated the account yesterday and received a call this morning from an account manager. He asked me all the personal questions, How much money I earned, savings accounts and loans I have ect. He told me he wanted this to be a long term and honest relationship. He directed me to Magnum’s web page and said these are your options and I told him I had no experience. He told me that I had to buy the 5K elections package to have an account manager. I flat out told him I this didn’t feel right because I signed up from the Walter Green video the Free Money System that was posted on may Facebook page and then it seemed like a front for Millionaire Blue Print Program and now I get a call from an account manager from Magnum Options. No one has been honest with me from the time I clicked on the Facebook video. I told him this and that I didn’t trust your company and you need to let me go off of the phone now and need to think about it. I started researching reviews and I am glad I did I am not going to spend one more dime with Magnum Options. I am going to try and get my $200.00 activation fee back

    • clara

      Please run, I lost $50,000 . The account managers are a bunch of thieves ….Please don’t !!

    • 789

      Hiii ….i too want my activation money back .can u please help me in getting that back 🙁

  • MIKE


  • Leo

    I had terrible experience when magnum option. I did a wired transfer for 500 as their ad asked. Took them almost a month to figure out where the money went. When they’ve finally figured out where the money went, their "coaches" and representatives were only interested in asking for more money invested unlike what their ad said. I’ve experienced missed appointment with their reps. Their phone were consistently statically. An hour ago, I had a call from a lady with the organization asking for another 15 thousand dollar before they can start investing. She was extremely pushy. I replied that the company has to start regain my trust before I can invest any more with magnum option. She refused to listen and started screaming at me, "then start pulling your money now." I’ve never had such rude and unprofessional customer experience in my life.

  • Alex

    I wouldn’t trust them, they seem like a bunch of scammers to me. Sound like those Indian scammers.

  • Sean

    These guys scammed me of 2460$. I won in the trades and when I tried to withdraw, they denied my request and closed my account. They are scammers dont trust them

  • Leanne

    Joined these guys on Monday (3 days ago). Lady that called was VERY pushy- Forced me to deposit the 200USD saying "Its so easy to withdraw if you change your mind’. BS!!! After reading reviews and when the "Account manager" called me I realized the mistake I made. The Account manager was trying to force me into depositing $5000 (yea, OKAY) When I firmly said "NOT GOING TO HAPPEN" he was very arrogant and condescending saying "have fun paying your mortgage". Spent the last 2 days trying to get my money, they are asking for copies of my ID- utility bill- credit card copy. On their website it says this information is required upon "DEPOSIT AND WITHDRAW". When I pointed this out they said its "REQUIRED TO GET THE MONEY WITHDRAWN", I replied "YOU DIDNT TAKE IT WHEN I DEPOSITED THE MONEY I AM NOT GIVING IT TO YOU TO GET MY MONEY BACK!. I told them I was contacting my bank to see if this was even allowed- they ended up coming back to me and saying "We don’t need the documents, we have withdrawn the money it will be processed by tomorrow AM". Long story short, These guys are money hungry and pray on ppl’s hopes to be "RICH". DON’T BE A VICTIM- Thankfully I didn’t lose anything!

  • Sam

    I joined up recently also, and gave the only initial deposit only.
    All the Magnum Options people speak with Eastern European Accents, and other fake accents. They all have fake English-sounding names like ‘Mather Dillon’, ‘Chris Miller’, etc. They are very pushy, nosy, and ask personal questions like how much money I have in my savings account. They will say anything to try to make you commit more money. I also found out that they operate from Israel, not from England.
    Do not commit to them. I hope you people get your money back. As I too expect to have my money back. if i don’t I’m going to get them… and trust me, it isn’t about the money.

    • Sam

      I GOT MY MONEY BACK…. I stood firm, didn’t do any trades, refused to join up for their mini-accounts… and legally they can’t do anything with that money I guess… I cancelled my card just in case… because I started getting a lot of ‘frozen bank account’, ‘lost money’, and phisting site spam to my email address after i joined up with magnum. I kept a $0 amount in the bank account linked to my card right after their account manager pushily tried to do a ”partial withdrawal” with my card details while trying to talk me into it. if you signed up, gave the initial deposit, and want out of this scammy operation…. don’t make any trades, leave your bank account at $0, and don’t let them trade with your money. I got my money back 8 days after joining up. Good Luck to everyone.

      P.S.: i also shouted at them over the phone, and directly called their London operation and threatened to make a big fuss… that might have helped – but to each his own…

      • MIKE

        Yeh same here they pushed for more money above the 200 usd i put through on my debit card, i saw some comments re their trading ,i cancled my card ,told them id like my refund,thet said is the card you used still current i told them yes but it wasnt they said we need you full card number and the 3 digit number confirm your account ,i told them you have the info ,i ve sent several emails to them alwasay busy ,so today i got a guy called roman he said is the card number still current we will refund to it ,i said no its cancelled ,so they said is the bank account still open i told them it was so in 2 more days i may or may not get my 200 usd back ,DONT GO NEAR THESE GUYS THEY ARE BLOODY SCAMMERS ,I LEARNT THE HARD WAY

  • Donut

    He said he didn’t want our money but what’s the $200 and only 10% back

  • lala

    They will let you trade, but you will never be able to withdraw anything
    Please don’t go with this company

  • Scott

    I gave this company $400 USD to trade with. I didn’t have the money they asked for so I offered to do trading myself, I had some successful trades and unsuccessful trades. What made me suspicious was I believe the trades were sometimes manipulated to lose because the assets would stay clear of the strike rate then within the final 60 seconds before expiry time the assets would either suddenly go up or down and the asset loses. This has happened to me more than once. I wish I never signed up with them.

  • Colleen

    Wish I read these first! DONT DO IT!! Took £200 as planned, then try and get another £1000-£5000 off me! Had to block card! Making it impossible to understand them taking more cash off you! Chasing to get £200 back. God help them if I don’t! 😉

    • Sam

      I know. When you say you don’t have enough money, they claim they will try a partial withdrawal with you card and CVV number… the cheeky _____! I immediately shifted my money online while keeping him distracted. These people are leeches.

    • MIKE

      did you get your 2000 usd back ?????//

  • claire Rukundo

    I just lost $ 50, 000 with magnum . I trusted the account manager followed his instructions but everything was lost . At the end he offer me bonuses $25,000 . I will never advised anyone to to go with magnum.

  • John Bell

    Very pushy sales people on the phone trying to get me to give card details over the phone, when I asked for more details about the company the operator got rude and hung up

  • Rose

    Hi, I need help. I had no experience in trading and was told they would hold my hand. Once they got my money I felt totally abandoned with a few returned emails. I asked to withdraw
    my money and they told me I couldn’t. I did no trades and went to make a trade and my account is at 0. Any suggestions what I can do. Thank you.

    • claire Rukundo

      They target foreigners money. We have to approach our respective govt. to protect us and make sure no one else is affected.

  • David

    Dont invest with these guys. They do not help ‘take you under their wing’ until you up your deposit to $5000 plus. They will leave you solo to lose your minimum deposit then mock you as a way to push you to increase your balance. Calling multiple times daily.

    As for return on investment… the returns are poor compared to real markets. You have flat win amounts regardless of how well your calls and puts are in the money.

    Deposits are easy not even having to complete the account process. Withdrawls are not and if you apply for a bonus it is very unlikely you will get money out of this.

  • Dave

    These people are awful nasty

    • Dave

      Once you register with them to see who they are…they will not leave you alone, they are very separate people to get your money.They will not stop calling you even after you told them, not to 25 times to be exact…they still call…


  • David

    It is not a scam and Magnum (and Boss Capital who are linked in some way) are actually very professional. However it is risky. It is possible to lose your shirt if you don’t learn what to do and develop a strategy first. If you open an account with a few hundred quid and play around with trades you will eventually lose the lot. But if you have an account manager who provides signals (basically tips), and if you limit your exposure at any one time to 20-25% of your balance and spread that amount over at least 4 trades, you have a good chance of success. My account manager works very hard, communicates well (most of the time) and has helped me grow my account by 25% per month for the last 6 months. I have had several losing trades but many more winners. The key is not to be too greedy – steady, steady catches the monkey. In the time it has taken me to pen this, my Disney trade has come good and turned my £250 into £442.50. On my own I would lose, with my account manager I am winning. I may eventually lose, but it is definitely not a scam.

    • fardeen

      Do you withdraw any amount from them ?

      • Sam

        yes i am curious, were you able to get any of the money back from these vampires

    • Dave

      They seem friendly and positive then once you deposit a minimum amount they want a larger deposit before they ‘take you under their wing and mentor you’. After you say something like i want to see some positive performance before i top up my account they respond with something like i think you should just withdraw your money we dont deal with such small accounts its embarrassing. Try pulling your money out… any real company has no issues paying out.

    • David

      Sure there are wins but until you withdraw cash go away. You likely work for Magnum

    • Michael Conlon

      My experience also

    • clara

      Did you really withdraw anything?
      Magnum options is a scam and full of thieves

  • Jason

    leave me alone u work to get rich not to help people my life is fucked my car is fucked I may lose my job any way shud have know it was a scam from the word go get a woman to do ur fucking dirty work and some kids perfectic bastards

  • Anthony Grippaldi

    If you are trading with Magnum Options do not accept BONUS. In the beginning they get you trading by offering bonuses such as “Guaranteed Profit Trade Agreement” or “Risk-free Trade Agreement”. They entice you with trades you cant loose because of the agreements. However you are locked into required trading before you can make a withdrawal. If they give you a $5000 bonus There is a multiplying factor that could be 20, 30 or 40. So if you get a $5000 times 30, you have to make $150,000 in trades before you can make a withdrawl from your account. This is how they lock you in. If you don’t trade you can’t get your money and by the time you make $150,000 in trades you will probably loose your money. To satisfy this example you would have to trade $1,000 a day for 150 days or 1500 days if you trade $100 per day to make a withdrawal, if you have anything left.

  • raymond long

    deposited 200.00 dollars got call from broker told me to take my money back he needed at least 2000/00

    • Zainab hamoui

      My husband is trying to do it now and I’m
      Telling him it’s a scam the idiot !!!!!

      • Sam

        tell your husband that my wife told me the same thing, and for him to not be stupid.

    • Zainab hamoui

      This is a scam stay away

    • Dave

      Same here

    • Sam

      were you able to take your 200 dollars back?

      • Whitney

        Hi I’m in a similar situation here they called me Friday saying they have a small gift of 50 dollar and they need my information to so so this morning I checked my account 250 is gone

  • Carl Ross

    When you sign-up for an account with Magnum Options you will immediately notice that you are dealing with highly professional individuals who will take care of you from the moment of your registration up to the point where you need help to fix some errors regarding your trade. I think I will be trading with them more often.

    • Rose

      That was not my experience at all. It was a gong show.

      • Kay

        They are scam please don’t take there calls or listen to there options it’s all scam .They never give up calling every day never taking no for answer

        • WAYNE KEAR


          • David Chambers Australia

            Fact Professional scammers my deposit 3 months ago never acepted to date lodged in Bejing China Requested Return has been given bullshit excuses since.All facts on my computor Warning-Warning-Warning.