Do you want to start trading binary options but are low on cash? Then Magnum Options minimum deposit requirements are perfect for you.
Magnum Options minimum deposit requirements
Opening an account with Magnum Options is free. To start trading, however, you obviously need to deposit money into your account. Since there is not much sense in starting a binary options trading career with $1, Magnum Options requests traders to deposit a minimum of $200 into their accounts.
Compared to other binary options brokers, this $200 minimum deposit is fairly low. While there are other brokers who also offer a $200 minimum deposit, many brokers also require minimum deposits of $500 or even more. We do not know of any broker who offers minimum deposits of less than $200.
Having a low minimum deposit is an advantage. It allows you to start your binary options trading career for a small investment, which is especially great for traders who are low on cash. It also allows you to test Magnum Options’ service for little money. If you are unsure whether Magnum Options is right for you, having to only spare $200 is much better than being required to make a bigger investment.
Nonetheless, there are a couple of good reason to why you might want to consider making a bigger investment. The first of them is hidden in Magnum Options’ account system. Investing more money will get you a better account type and thereby a bigger bonus. The minimum deposit requirements for each account type are:
- A minimum deposit of $200 will get you the mini account, which does not offer a deposit bonus.
- A minimum deposit of $1,000 will get you the standard account, which offers a deposit bonus of 20%.
- A minimum deposit of $2,500 will get you the executive account, which offers a deposit bonus of 30%.
- A minimum deposit of $5,000 will get you the gold account, which offers a deposit bonus of 50%.
- A minimum deposit of $10,000 will get you the standard account, which offers a deposit bonus of 100%.
If you are considering a deposit slightly lower than one of these amounts, you might want to think about increasing your deposit to reach the next higher account level. Instead of investing $900, which would result in an account balance of $900, you could invest an extra $100, thereby increasing your investment to $1,000, which would get you the standard account, a 20% deposit bonus, and a final account balance of $1,200 – a $300 gain on a $100 investment, the easiest way to triple your money.