Extrait:MagnumTrade is an unregulated broker, offering trading on Forex and CFDs on stock indices, commodities, stocks, metals and energies with leverage up to 1:200 and fixed spreads via a web-based trading platform. Demo accounts are not available and the minimum deposit requirement to open a live account is as high as $250.
MagnumTrade Review Summary | |
Founded | 2023 |
Registered Country/Region | Luxembourg |
Regulation | No regulation |
Market Instruments | Forex, CFDs on stock indices, commodities, stocks, metals and energies |
Demo Account | ❌ |
Leverage | Up to 1:200 |
Spread | Fixed |
Trading Platform | Web |
Min Deposit | $250 |
Customer Support | 24/5 support |
Contact form | |
Email: support@magnumtrade.io | |
Address: 32-36 Bd d'Avranches, 1160 Luxembourg |
MagnumTrade is an unregulated broker, offering trading on Forex and CFDs on stock indices, commodities, stocks, metals and energies with leverage up to 1:200 and fixed spreads via a web-based trading platform. Demo accounts are not available and the minimum deposit requirement to open a live account is as high as $250.
Pros | Cons |
Various trading products | No regulation |
Multiple account types | No demo accounts |
Flexible leverage ratios | No MT4/MT5 platform |
No commissions | High minimum deposit requirement |
No deposit fee | Unknown payment options |
Withdrawal fee charged | |
No direct contact channels |
No. MagnumTrade currently has no valid regulations. Please be aware of the risk!
Tradable Instruments | Supported |
Forex | ✔ |
CFDs | ✔ |
Stock indices | ✔ |
Commodities | ✔ |
Stocks | ✔ |
Metals | ✔ |
Energies | ✔ |
Cryptocurrencies | ❌ |
Bonds | ❌ |
Options | ❌ |
ETFs | ❌ |
Here are six account types MagnumTrade offers:
Account Type | Min Deposit |
Trial | $250 |
Classic | $3,000 |
Gold | $25,000 |
Platinum | $100,000 |
VIP | $500,000 |
Prestige | $1,000,000 |
Account Type | Max Leverage |
Trial | 1:3 |
Classic | 1:10 |
Gold | 1:25 |
Platinum | 1:50 |
VIP | 1:100 |
Prestige | 1:200 |
Since leverage, can amplify both profits as well as losses, choosing the right amount is a key risk determination for traders.
Trading Fees
Account Type | Spread | Commission |
Trial | Fixed | ❌ |
Classic | ||
Gold | ||
Platinum | -25% | |
VIP | -50% | |
Prestige | -75% |
Non-Trading Fees
Account Type | Withdrawal Fees |
Trial | 10% |
Classic | 5% |
Gold | 3% |
Platinum | 0.5% |
VIP | 0.3% |
Prestige | ❌ |
Trading Platform | Supported | Available Devices | Suitable for |
Web platform | ✔ | Web | / |
MT4 | ❌ | Beginners | |
MT5 | ❌ | Experienced traders |
Account Type | Exchange Fees | Deposit Fee | Withdrawal Fee | Withdrawal Limit | Withdrawal Execution Time |
Trial | Fixed | ❌ | 10% | Unlimitted | Up to 48 hours |
Classic | 5% | ||||
Gold | 3% | 5,000 EUR/24 hours | Up to 24 hours | ||
Platinum | 0.5% | 0.5% | 20,000 EUR/24 hours | Up to 3 hours | |
VIP | 0.3% | 0.3% | 100,000 EUR/24 hours | Instant | |
Prestige | ❌ | ❌ | 200,000 EUR/24 hours |
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