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Score

1.44 /10
Danger

Magic Option

United Kingdom

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

https://magicoption.io

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Score

Regulatory Index0.00

Business Index6.48

Risk Management Index0.00

Software Index4.00

License Index0.00

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Website

Licenses

No valid regulatory information, please be aware of the risk

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Warning: Low score, please stay away! 2
Previous Detection : 2024-09-23
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

Magic Option · Company summary

General Information & Regulation

Magic Option claims to be located in UK, with its corporation information not disclosed to all. Magic Option does not fall under any regulatory agency, please be aware of the risk.

Markets Instruments

Tradable financial instruments available on the Magic Option platform include forex currency pairs, indices, stocks, as well as commodities.

Minimum Deposit

Magic Option requires traders to deposit at least $1000 to register a real trading account, which sounds unreasonable for an unregulated broker. Keep in mind that most legit broker only requires a minimum initial deposit as low as $100 or even less.

Trade Size

The minimum trade size allowed by Magic Option is 0.01 lot.

Leverage

Magic Option offers the leverage up to 1:1000, absurdly high. Since leverage can amplify returns and potential risks, trading with an unregulated broker offering high leverage is not a good option.

Spreads & Commissions

Magic Option advertises that it offers low spreads for its traders, but it does not specify detailed spreads on particular instruments.

Trading Platform Available

Magic Option has one of the poorest trading platforms ever. We cant even call it a trading terminal, for the charts are taken from a third party chart provider that follows market trends, meaning that Magic Option has not actual trading terms.

Deposit & Withdrawal

Magic Option supports its traders to fund their accounts through Visa and MasterCard, e-wallets such as Skrill, Neteller , as well cryptocurrencies such as Bitcoin and Ethereum.

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天空的云朵
more than one year
Magic Option's website seems to be down. I don't know what happened to it. It's concerning because I have investments with them. The fact that their website is not working is making me nervous. I hope they can fix it soon and keep their customers informed. It's not a good look for a company to have their website down without any explanation.
Magic Option's website seems to be down. I don't know what happened to it. It's concerning because I have investments with them. The fact that their website is not working is making me nervous. I hope they can fix it soon and keep their customers informed. It's not a good look for a company to have their website down without any explanation.
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2023-03-24 14:01
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