If you visit the Magnum Options website, the first thing you will notice is a very large 81% at the top of the page. Magnum Options promises you can earn up to 81%. That might look impressive, but it’s meaningless. Magnum Options claims to have the fastest trading software in the industry. This might be true, but it’s not a good thing.
Product Website: www.magnumoptions.eu
Product Cost: Minimum $250
Product Owner: Solaris Vision Ltd.
Opinion: Not recommended.
If you visit the Magnum Options website, the first thing you will notice is a very large 81% at the top of the page. Magnum Options promises you can earn up to 81%. That might look impressive, but it’s meaningless.
81% of nothing is nothing. There’s no mention of how this number is computed, but the implication appears to be that Magnum Options has an 81% success rate. They don’t.
Is Magnum Options a Scam?
Magnum Options claims to have the fastest trading software in the industry. This might be true, but it’s not a good thing.
If you read the Magnum Options disclaimer at the bottom of the website, you will see that their software will automatically place a trade if you do not cancel the trade within 3 seconds of being prompted.
It is a damning statement of Magnum Options’ lack of integrity that they bury the 3-second detail in the fine print at the bottom of the website.
When there is money on the line, no one can consistently make good decisions under the pressure of a 3-second clock. That’s insane. Three Seconds! Imagine how fast Magnum Options can clean out your account. Before you know what hit you, you’re broke.
Magnum Options is not a binary options trading platform; it’s a high-speed vacuum sucking every penny out of your account.
Three Things You Need to Know.
- Binary options are NOT options.
- Trading binary options is NOT trading
- Trading binary options is NOT investing.
Bonus Fact #1:
Magnum Options is NOT a registered broker.
Bonus Fact #2:
Magnum Options is in Bulgaria. What could go wrong?
Why Binary Options are NOT options.
An option is when you purchase the right to buy something at a later date. For example, you can buy an option to purchase a house for a specific price by a specific date. When you don’t exercise your option, it expires.
In the commodities market, you can purchase an option to buy a rail car of wheat for a specific price and hopefully sell it later for a profit.
Binary options are nothing like that.
Trading Binary Options is not trading.
Trading implies an exchange. We trade baseball cards, or I give you money, and you give me something of value.
Binary options are nothing like that because nothing is traded. When you enter a so-called binary options trade, you are betting that a specific asset will perform a specific action at a specific time and, somewhere in the world, someone else is betting that it won’t.
To win a trade with Magnum Options, you must pick the right asset, the right action and the right time, all within 3 seconds. Good luck. You’ll need it.
Binary Options is NOT Investing.
Binary options, at least for the small investor, is not investing. Remember, if you don’t manage a billion-dollar hedge fund, you’re a small investor. Read How to Invest.
Investing is when you put money into an asset and have a reasonable expectation the asset will increase in value because of what you KNOW about that asset and what you KNOW about the market.
The only way to win with binary options is if you are lucky or you have insider information. There is no other way to win. Gurus can’t help you, and magical software can’t help you either.
You’d do just as well consulting tea leaves. Read more about the evils of binary options here.
Magnum Options is NOT Registered.
Remember all the stuff I wrote about how it takes luck to win with binary options? That is as good as it gets and that’s assuming you are trading with a registered binary options broker.
Magnum Options is NOT registered. This means there is no government agency forcing Magnum Options to obey the law or to behave ethically.
In other words, Magnum Options is free to do whatever they want. And, all Magnum Options wants to do is take your money, all of it, as fast as they can.
Three seconds and it’s gone!
The United States SEC warns that unregistered binary options brokers, like Magnum Options, are suspected of stealing identities, faking losing trades and locking clients out of their accounts.
Did I mention they’re in Bulgaria?
Who Trades Binary Options?
Trading binary options appeal to habitual gamblers for a reason.
If you look at the affiliate programs for a binary options website, you’ll see that they recommend promoting to gamblers. Gambling addicts live for the thrill of putting it all on the line.
I suspect some are addicted to the strong negative emotion associated with losing. Trading binary options will deliver the pain of monetary loss in spades.
However, if you’d prefer not to suffer a financial kick in the crotch, why are you interested in binary options?
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If you found this article helpful or have experience Magnum Options, please leave a comment below. Thank you.