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Do you want to test Magnum Options before you open an account with them? This article teaches you everything you need to know about the Magnum Options demo account. We tell you exactly how you can test how to trade.
Even though Magnum Options is a relatively young binary options broker, being launched in 2013, many traders have switched to their service and made it one of the most popular binary options brokers in the market. With a good trading platform, many available binary options types, and a long list of assets, Magnum Options is a good partner for every type of binary options trader, especially newcomers.
Understandably, newcomers to Magnum Options or binary options in general would like to test Magnum Options before they sign up for an account. They want to find out whether the broker is a good fit for them, whether they can handle the trading platform well, and whether the offered payouts are high enough for their type of strategy.
We encourage all our readers to perform such a thorough test before they sign up for a binary options broker. In the old days, when you needed to download trading software and install it to your computer, you needed a demo account to test a broker. In our modern days with web-based trading software, you can do without a demo account.
Did you know that there are more than 400 operators in the binary options market?
If you are ever unsure of who to choose, we urge you to take a look at our list of trustworthy binary brokers here!
Testing a binary options broker has become much easier. All you need to do to test Magnum Options is access their website. Scroll down a little bit, and you can immediately see Magnum Options’ trading platform – you do not need a demo account to access it.
At the top of the trading platform, you can select the binary option type you want to use for your investment. Click on your preferred option type, and the window below will allow you to choose the asset you want to trade, the expiry time you want to use, and the amount you want to invest.
To the right of the window, you can always see the payout you can receive. To test whether Magnum Options works for you and your strategy, we encourage you to test a couple of situations. See which payouts you would get with different option types, different assets, and in different market environments.
Obviously, you cannot make an actual investment before you have opened an account, but you can test all of Magnum Options’ functions.