This review is dedicated to answering, in detail, one of the commonest questions people ask about the Binomo trading platform: “How does it work?”
Well, let's find out together. In due time, you would have fully learned all you need to open an account, trade, and, most importantly, get an additional income on the platform if your forecast is correct.
But first, what is Binomo
What is binomo.com?
The simplest answer we can give to this question is; Binomo is a reliable trading platform that grants its members the opportunity to trade assets and earn profits after a set duration and correct forecast.
Traders from Qatar are also interested in whether this platform is illegal or not? So, Binomo is an officially registered company. The head office is located in St. Vincent and the Grenadines. The safety of the platform is also evidenced by its work in more than 130 countries around the world for 7 years.
Is Binomo fraud or not?
There are many trading companies out there, but few of them are utterly genuine. Many of these investment and trading platforms cannot proof its reliability.
But, is Binomo like these investment platforms? No, and in our review we will tell you why this is not a scam.
First, Binomo is certified by an internationally recognized financial regulator, The Financial Commission.
Second, Binomo's has also been verified authentic by Verify My Trade (VMT), an agency relinquished with the responsibility and authority to check the transparency of investment platforms like Binomo.
Third, Binomo has been conferred with several highly coveted awards. These include FE Awards (received in 2015), IAIR Awards (received in 2016).
What is the Binomo app and how it works?
After confirming Binomo is no scam, moving on to the next thing that might be on your mind.
Well, the Binomo trading app might be a great place to start! This app allows users to do so much on the platform without ever taking a visit to the main Binomo website. Users can open an account, deposit, trade, monitor their trades, and even withdraw from their wallets with the app anywhere, anytime.
Binomo free download
You can download the Binomo app on your iOS or Android devices by typing the app name into any of the app stores you have on your mobile.
Interested Android users can also access an alternative Binomo Apk version from the official website (strictly for Android mobiles).
How does Binomo trading work?
Trading on Binomo should be pretty convenient for everyone, even the most non-tech-savvy individuals who'd love to invest on the platform.
Once you've created an account, logged in, and made the Binomo minimum deposit of $10 or more, you can then navigate to the Binomo trade room, and confirm the account type you're currently on.
Choose the type of asset you'd love to invest in, set a forecast on whether the asset will either UP or DOWN. Green for an UP, red for DOWN. Set a suitable duration for the trade and initiate the trade.
Sign in and Login
Signing in on the Binomo platform is not rocket science. Just input your login details and click the large yellow “Sign-in” button to gain access to your profile. An alternative sign-in method is to log in using your Google account.
But if, after registering, you are thinking about how to change the currency in Binomo, you will be disappointed. This cannot be done, so carefully select the account currency when registering.
Account types
There are only 4 account types on Binomo, namely;
1. Demo (available to all users after registration for practice);
2. Standard;
3. Gold;
4. VIP.
Making a decision to use any of them, or gaining access to any of them, fully depends on a few factors which you'd have to consider before trading.
Let's quickly look at the peculiarities of each real account type.
Standard
● Least possible payment of $10 to access account;
● Grants up to 100% bonuses on payments into your wallet;
● Guarantee of up to 85% benefits on all successful asset forecasting.
Gold
● Least possible total payment of $500 to access account;
● Grants up to 150% bonuses on payments into your wallet;
● Guarantee of up to 90% benefits on every successful asset forecasting;
● In case you make losses in a week, you get about up to 5% turnouts on your deposit-capital ratio.
● Account holders can also insure funds (in some cases) and contact your personal manager.
VIP
● Least possible total payment of $1000 to access account;
● Grants up to 200% bonuses on payments into your wallet;
● Guarantee of up to 90% benefits on any successful asset forecasting;
● Up to 10% turnouts on the deposit-capital ratio in cases you had only losses in a week;
● Trades insurance, risk-free trades and more from Binomo agents to increase your chances of successful trading.
At the same time, all account holders, including demo ones, have access to Strategies, Binomo trading tips and support.
Binomo tutorials
Binomo is also a great place to learn the ropes if you're just a beginning trader. With the Binomo demo account, a practice account that allows you to trade first-hand, you can master a lot of things on the platform.
Access to other materials for both users and non-users of Binomo is available in the following sections of the Binomo website:
● Strategy;
● Help Center (FAQ);
● Training;
● Information.
Deposit and Withdrawal funds
Can we withdraw money from Binomo? Deposit and withdrawals can be made through the Сashier section of the website.
Binomo Bonuses
You can get Binomo bonuses in one of the two following ways:
1. When you make a deposit;
2. When the website or any affiliates provide you with a Binomo coupon.
Limit
There are no particular restrictions on how you can use Binomo or how much funds you can deposit. However, there are certain withdrawal limits that clients should consider before trading on the platform. You can check these limits in the Client Agreement.
Binomo verification
Typically, when you withdraw funds from Binomo, you will need to verify your account. This usually requires uploading certain documents for Binomo to review and approve. Usually they ask to send a passport or ID card, confirmation of the payment method (proof that your bank card or e-wallet is yours).
The necessary documents must be sent to the support email. During verification, you can enjoy all the benefits of the platform, except for withdrawing funds. This usually takes no more than 72 hours.
Conclusion
Now you know Binomo is nothing like the investment and trading platform where you can earn extra income right from home. This channel allows you to trade, and also learn useful strategies for investing assets on the website or app.
However, with trading, certain risks are involved. You must be ready to admit you can make a wrong forecast and lose funds. More importantly, you must also be able to find effective ways to mitigate any risks you might encounter to get profits.
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