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Binomo is an online trading platform known for its investor-friendly trading accounts and accessibility features. Moreover, the platform offers 50+ assets to trade-in. Binomo’s objective is to provide high-level support and assistance to new and experienced traders. The trading platform is one of its kinds that provide the traders to earn bonuses by running different tournaments.
Let’s learn if Binomo is right for you? And can it be trusted for your investment? In this Binomo review, we will discuss almost everything about the trading platform and the features it offers to its users.
Quick Overview of Binomo
Official Website: Binomo.com Products Offered: Stocks, Commodities, Indices Head Quarters: Vincent and the Grenadines Minimum Initial Deposit: $10 Regulators: Demo Account: Yes Yes MetaTrader 4 (MT4) No MetaTrader 5 (MT5): No Trading Fee: No Withdrawal Free: Approximately 10% Supported Currencies: USD, GBP, CAD, & EUR Customer Support: Via Email and Chat Support Types of Accounts: 3; Standard, Gold & VIP
What is Binomo? Binomo is an online trading app that provides binary trading options with its top-tier features. Owned by Dolphin Corp, Binomo was established in 2014. The trading platform is currently having 887,470 daily active traders from 133 different countries including india with an average of 30,000,000 successful trades per week. Unlike other trading apps, Binomo offers 70 different assets including indices, stocks, commodities, cryptocurrencies, and currency pairs with you can trade on the platform.
The best thing about Binomo is you can start with just $10 and start trading with just $1. In order to facilitate and encourage new traders, Binomo provides the feature of a Demo account that imitates the real trading features with $1000 of bogus money so the users can learn trading tactics before investing real money.
Binomo trading app offers its traders three different account types named Standard, Gold, and VIP. Each account type has different investment criteria and requires different unique revenue criteria, benefits, and bonuses.
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Is Binomo A Scam? No, Binomo is not a scam rather it’s a legitimate online trading platform that is used by thousands of traders every day from 133 different countries across the globe. The trading platform is regulated by the International Financial Commission and is categorized as member “A” . Being a member of the IFC, Binomo reaffirms its utmost commitment to maintaining the highest standards of trading and business practices.
The IFC has officially recognized the Binomo trading platform and ensures all of its clients’ risks are covered under current legislation which includes up to $20,000 in protection for case disputes.
For its excellent service and efficient trading performance, the trading site was awarded Verify My Trade accreditation of trade quality. In 2015, the trading app received the FE award, and later in 2016 for excellence in global finance and markets. All of these safeguards and achievements are additional proof of the platform’s legitimacy and dependability.
How to start trading on Binomo?
Registration In order to start trading on Binomo, you need to get registered on the platform. Getting registered on Binomo is extremely easy. You need to provide your basic details including your name, contact number, address, email ID, and payment method. Upon entering those details, the information gets validated by the platform and you get registered as a trader.
Demo Trading Binomo offers its traders the feature of experiencing real trading to help them learn the dynamics and tactics of trading. The demo account imitates the real trading interface and allows you to learn new strategies and practice trading without investing a penny. It is provided with $1000 of virtual money to start bidding in the demo trading account. The objective is to facilitate traders in learning without investing real money.
Real Time Trading Unlike other trading platforms, that requires a hefty amount to participate in the live trading sessions. Binomo asks for a deposit of a minimal amount of $10 and allows you to start placing orders from $1 only.
In order to start live trading, you can select the asset you wish to start trading with such as EUR/USD, and start to follow the market trends, open a position and start analyzing whether the market goes up or down. Depending on your opinion if you invest you can profit up to 87%.
Withdrawal Profits The withdrawal process is real quick and easy. If you haven’t made a minimum number of trades as required by the platform, the system will deduct a 10% fee from your earnings upon withdrawal. Moreover, the information entered against your account must be complete and correct in order to deposit or withdraw funds. After placing the withdrawal request, you can receive your money within 3 working days. Binomo supports Visa, MasterCard, Jeton, and Neteller.
Is Binomo safe to trade? Binomo is a registered and recognized trading platform known for its reliability and transparency. Binomo is 100% legal in india and legit. It uses SSL protocol to make sure the traders’ profiles, their earnings, and sensitive data including their banking details and funds are completely encrypted and secure. Binomo understands the severity of its traders’ financial and personal data and takes every measure to guarantee its protection. In order to protect the platform and its users from any possible theft and fraud; Binomo doesn’t even allow its traders to deposit or withdraw their profits without validating their personal information and financial details.
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The platform has more than 20 different graphical tools that help its users to analyze the market trends for their chosen assets by following the trading charts and history. The hotkeys feature allows quick access to online trading; which is unique and has never been introduced by any other trading app or platform. Moreover, the economic calendar of BInomo assists in integration with various charts. All these features are introduced to help the traders with updated trends so they don’t get to face any loss.
Binomo Account Types Other than the free account Binomo offers three different kinds of accounts with different deposit requirements and offers a distinct set of benefits. Free Account: The free account imitates the characteristics of Binomo’s genuine account. It is an excellent trading tool for new traders to practice and learn before participating and investing real money in live commercial exchange. This type of account gives traders the option to assess the platform’s unique features without spending money. Standard Account: In order to open a standard account, the minimum deposit requirement is $10 only. You can enjoy trading with most of the assets on the platform. With a standard account, you get access to 30+ assets on the platform with a profit margin of 84%. Though it offers less number of available assets; however, it is better to focus and develop an understanding with those assets being a newbie. As a new trader if you want to risk less money, then this is the best investment opportunity for you. With a standard account, you can withdraw your amount within 3 business days.
Features • Earnings or funds are released within 3 working days following your preferred method of payment. • Offers participation in contests that may give you bonus funds. • 84% max profit • 80% max bonus
Gold Account: The minimum deposit requirement to open a Gold Account is $500. In a Gold account, you not only enjoy all the benefits of a Standard account but also get access to 10+ assets; which means that the members of the Gold account get access to 40+ accounts. The withdrawal process is much faster compared to the standard one and you receive your funds within 24 hours. Other than this, you get prioritized technical support, exciting bonuses, and a 5% weekly cashback.
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Features • Earnings or funds are released within 3 working days following your preferred method of payment. • Offers participation in contests that may give you bonus funds. • A manager is dedicated to your account for assistance. • 86% max profit • 80% max bonus
VIP Account: This is the highest account tier you can have in Binomo. The VIP account is made to facilitate professional traders. In order to open an account, you need to deposit $1000. With a VIP account, you get access to 50+ assets, higher profits, and maximum bonuses. VIP account holders get bonuses and promotions of up to 100%, and can earn up to 87% profit on every trade and 10% weekly cashback. Talking of withdrawals, VIP traders can get their payments transferred within 4 hours of making a request. To assist in managing your account and trading a VIP manager is assigned who provides support and assistance in every way possible.
Features • Earnings or funds are released within 4 hours following your preferred method of payment. • Offers participation in VIP contests that can help earn 100% bonus funds. • A VIP manager is assigned to provide support and assistance. • VIP account holders can enjoy individual offers. • 90% max profit • 100% max bonus
Binomo Trade App Since it is getting popular among the masses and considering the convenience of its traders; the Binomo app is available on mobile to help its users to trade at any time and from any place they want. Now for using BInomo you don’t need your laptop along with you. The trading platform is available in the form of iOS which can be downloaded from the Apple store and the android app which is available on the Google Play Store to download for Android. The best thing about the Binomo mobile application, you can receive notifications and get alerts for market trends, profits, earnings, or bonuses that are not available on the desktop version of Binomo.
Binomo Customer Support For the convenience of its traders, Binomo has a team of dedicated and professional customer support that can be contacted via chat and email. The live chat support is available on the trading platform’s website which supports multiple languages. It can be used if you need quick assistance. For email you can send your concerns to email@example.com, the team will reply to you within 24 hours time frame. (Register on Binomo and Start Trading Now)
Binomo Pros & Cons Binomo Pros Ease of Access Any experienced or new trader can open a trading account on Binomo’s platform with a minimum deposit of $10. The platform requires basic details and doesn’t ask for bank statements or any financial documents for the validation of your profile. Demo account The demo account feature imitates the real trading interface that helps the new traders to learn the dynamics and tactics of trading. IT can be used by experienced traders so they can get familiar with the interface. Minimum Investment Binomo allows traders to start trading with the minimum investment amount that is $10. The objective is to gain the trust of its users so they can invest conveniently without having the threat to lose or risk their money. Multiple Payment Methods BInomo supports various methods so that users can avail what seems convenient to them. Binomo supports Visa, MasterCard, Wire Transfer, Jeton, and Neteller. Quick Payment The trading platform doesn’t have any strict rules to follow in order to release the earnings of its traders. The maximum time system needs to process the payment is 3 working days which is for standard account holders while the minimum time is 4 hours which is for VIP account holders. Tournaments It is a unique feature that makes Binomo a competitive broker. The platform holds a free tournament for each of the three account holders that come with $300 to $600 funds. It also initiates paid tournament that has funds of between $1,500 and $75 000. Maximum Profit Margins BInomo offers its traders to earn a maximum profit of up to 90%. There are three different trading accounts so the percentage for earning profit is slightly different. The standard account holders can earn up to 84% of the profit, Gold account holders can achieve 86% and VIP account holders can enjoy up to 90% of the profit. Responsive Customer Support BInomo has a professional customer support team that is available to respond to your queries and resolve your issues. Their customer support is available 24/7 via live chat and email.
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Mobile Application The trading interface is not only available for your laptops or PCs but considering the importance of online trading and availability Binomo is available in the form of a mobile application that can be installed and used on both iPhone and Android phones. Binomo Cons Limited Assets If we compare BInomo it has 45 different asset types which are lesser than many other brokers. Generally offer more than 100 types of different assets. Unavailability in Many Regions Binomo is inaccessible to US and European traders. No Desktop Version There is no desktop version available that can make it easy to use on laptops and PCs. Trading can be done through mobile applications and web browsers available on laptops and PCs.
Final Verdict Binomo appears to be a fantastic option for both beginner and experienced traders who are interested in multiplying their money in quick time. BInomo offers trading options with multiple assets to invest in. The interface is secured with SSL protocols so that sensitive details about users and their trading activities can be protected and no theft or burglary is possible.
The trading account helps new traders to learn and gain knowledge about trading by spending time in an interface that imitates the real trading interface. The traders use digital money which is $1000 to trade following different practices and tactics. The best thing is traders can start trading by investing a minimum amount of $10. The platform offers three different trading accounts with a different number of assets, profit margins, and investment plans so traders can opt for one that suits their convenience and interests.
Read More: Binomo App Review 2022 – Safe Trading App? Read This Before Get Started
* Risk warning. Before starting to trade on the platform, the Client needs to analyze their financial capabilities and familiarize themselves with the terms of the agreement on the provision of services on the site.