Magnum Options Banking

Magnum Options Banking - logoAre you looking for a binary options broker that keeps your money safe and employs secure banking? See if Magnum Options banking is right for you.

Rules for Magnum Options Banking

When choosing a broker, many traders overlook the banking process. This is unfortunate, as a solid banking process is a fundamental requirement for a successful trading career.

  • What good are great profits if you have trouble withdrawing them?
  • What good is recognizing the perfect trading opportunity, if you can’t deposit money to your account immediately and take advantage of it?
  • What good is increasing your account balance if your broker does not employ the necessary security measurements to keep your money safe?
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These points are important and should be considered before choosing a broker. Let us see how Magnum Options banking does in these categories:

Withdrawals

Magnum Options offers two methods to withdraw money: Wire transfer and credit card / debit card. With both withdrawal options, your requests are handled within a maximum of two business days. With higher account types, you get even faster withdrawals – but a maximum of two days is quick in any case.

After Magnum Options has processed your request, your credit card / debit card withdrawal will reach your account instantly – you can’t get your money any quicker. With higher account types, a withdrawal might take less than one day.

The timing of wire transfer withdrawals largely depends on your bank and customs in your country. In an absolute worst case scenario, a wire transfer withdrawal can take up to seven business day. Usually, wire transfers are much quicker, though.

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Deposits

Deposits follow the same guidelines as withdrawals, but offer you three banking methods: Credit card / debit card, online payment, and wire transfer. Credit card / debit card and online payment deposits are booked to your account immediately. If you want to take advantage of a situation you see in the market right now but need a little extra money, you should therefore always deposit with credit card / debit card or online payment provider.

Safety

Magnum Options is doing the best job possible to keep your money safe. They use the SSL encryption protocol, the best security standard available, and the same standard every online banking provider uses, too.

Additionally, Magnum Options requires every new withdrawal method to be verified by providing a picture of your government issued ID, a proof of residence, and, if the withdrawal is by credit card, a picture of the credit card with only the last four digits visible. This security feature makes sure that only you can withdraw money from your account and nobody can steal your money.