Binomo is one of the most popular trading platforms. This review answers the common queries about how Binomo really works and how to use it. We will tell you how to sign in to the website and download the app, about deposit and withdrawal methods, training materials.
Briefly about what Binomo is
Binomo is one of the largest trading companies. It’s an international platform with a presence in more than 130 countries.
If you have doubts about whether Binomo is real or fake, it’s worth mentioning that the company was established in 2014 and registered in St. Vincent and the Grenadines. You can see the exact address of the head office on the website binomo.com.
Regulation & certificates
Potential traders might have doubt whether Binomo is a scam or legit, safe or not. Below are the facts that can prove that the platform isn’t illegal.
Binomo is a category “A” member of the International Financial Commission, which guarantees transparency of relations with clients. The quality of trades on the platform is also regulated by the Verify My Trade. You can find the certificates at the following link:https://binomo.com/information/regulation.
To decide for yourself Binomo is a scam or not you can also check reviews of real traders on the net, e. g. on forums such as Linkedin.
How to start trading on Binomo?
If you think about how to play or make money on Binomo, then let us make it clear that this is a trading platform where users need experience and skills to conduct market analysis. This is the only way to get additional income.
Register / Login
Signing up on Binomo is simple. In the upper-right corner of the webpage (next to the button for choosing English or another language), you need to enter a valid email and a strong password. The second way is to log in with your Facebook/Google account.
Note! The currency you select during registration cannot be changed later. You will have to close your Binomo account and create a new one.
Traders also are advised to read the Client Agreement so that they don’t violate the rules and policy of the platform.
You can sign in to Binomo using the email you provided during registration. Sometimes the platform may ask for verification in order to obtain proof that you’re actually a genuine account holder. This automatic process on Binomo usually takes a few minutes (vs. IQ Option).
If you have any questions, go to the Help Center (FAQ section), which is similar to Wikipedia. You can also write to the chatbot or contact support agents. They respond in 13 languages, including, of course, English.
Train and practice
Before you get into real trading, it’s recommended to use a demo account so that you get to understand the features that Binomo offers. This is especially important for novice traders.
Demo account helps you improve your skills in a safe environment. You have the opportunity to trade on Binomo with virtual funds and without the worry of losing. Here you can also test different strategies.
Note! Remember no trading strategy is winning and doesn’t guarantee a 100% success result.
Tournaments will also help increase your skills. Demo account holders can contest in the “Daily Free” competition. The rest of Binomo tournaments require a participation fee and are intended for account holders. You can find all information about the features of each account on the Binomo website.
Make the first deposit
The minimum deposit amount is only $10. Another proof that Binomo isn’t a scam is its cooperation with reliable providers. To make a deposit, you can use one of the popular options in the Philippines such as bank card and transfer, or Gcash. Paypal isn’t available.
Bonuses
Binomo offers different types of bonuses:
- Welcome bonus that is provided to all users after registration on Binomo. It’s 25% of the first deposit and is valid for only 30 minutes.
- Deposit bonus, the amount of which depends on the type of your Binomo account.
- A bonus coupon or code that you can get as part of the promotions or from your personal manager (if you have a VIP account).
- No-deposit bonus which includes not only coupons but also personal offers for VIP clients of Binomo: risk-free trades, investment insurance, etc.
Note! You can familiarize yourself with the terms and conditions for granting Binomo bonuses in paragraph 8 of the Client Agreement.
How does trading on Binomo work?
Fixed Time Trades, or FTT, are the main trading mechanic on the platform. There are 2 types of FTT:
- Short-term – with expiration time less than 5 minutes.
- Long-term – with expiration time up to 60 minutes.
FTT allows you to profit on the slightest price changes. The main principle is:
- Select an asset.
- Set the amount you’re going to invest (from 1$).
- Select the time you want a trade to close.
- Make your forecast. Click on the green button if you think the price of an asset will go UP, or the red button if you think it will go DOWN.
If your forecast is correct, profit would be added to your balance.
Invest and trade everywhere via the Binomo app
Binomo is available not only on a PC but also through a free mobile app. You can access the platform anywhere with internet access.
The trading app can be installed from Google Play and App Store. Pay attention to the logo to avoid installing fraudulent apps. If you have problems with the installation, no hack is needed. Download the APK version from the Binomo website.
There is no Binomo app for PC as it isn’t compatible with Windows and Mac software (only for Android and iOS). Using a computer, you can only log in to the website.
Note! If you want to know how to close an account, this function isn’t available in the app.
How to withdraw money from Binomo
For security reasons, you can withdraw funds from Binomo using one of the payment methods you used to deposit. Withdrawal takes from a few minutes to 3 days, depending on the type of account and the chosen payment service provider.
The minimum withdrawal amount is $10. You can read detailed information about maximum limits for withdrawal in the Client Agreement of Binomo. There are no fees for withdrawing from the platform. IQ Option vs. Binomo charges a commission of $31 for wire transfer.
Total about Binomo
Binomo offers a lot of features that make it user-friendly when compared to other brokers. The investment platform is suitable for traders of every skill level as provides tutorial videos and other educational materials for free. The registration and verification are fast and simple.
Be aware of the risk of losing your capital. Don’t invest real funds until you understand what’s Binomo and how does it work. The company doesn’t provide trading signals or tips. Don’t neglect a demo account and learn to analyze the market. And if you understand that you aren’t ready to trade yet, you can join the affiliate program BinPartner.
