Binomo Trading Demystified
The concept of earning via brokerage services is not a foreign concept. In fact, its popularity and demand are at an all-time high. Unsurprisingly, the internet has seen the rise of numerous online trading platforms. With each platform offering unique features as a means of attracting more clients.
From this bunch, Binomo ̶ an authentic and well-known platform ̶ stands out. Binomo has grown to become one of the most popular trading platforms. And for good reasons too. Established in 2014, Binomo is headquartered in St Vincent and the Grenadines. In its early years, it was quite unpopular due to its limited set of financial tools. But in the year 2016, the platform saw a major transformation. The developers of Binomo, seeing their client’s struggles revamped the platform into the innovative source of extra income that it is today.
Since then, Binomo’s stock has skyrocketed to being the market leader in CIS countries. Gaining its reputation as one of the top three platforms for online trading.
What is Binomo Trading?
Binomo is an online trading platform that offer clients high-quality brokerage services. It is an avenue to earn additional income. Users earn a living by trading rising and falling prices of commodities and shares. Also, this client-oriented company provides analytical services and expert tutorials to enhance a trader’s commercial success.
Registration and Sign-In
Before you can start trading on Binomo, you need to sign up on the website. The good part is, it’s completely free. So how do you sign up?
- Visit the website at https://binomo.com
- Enter your email address.
- Create a password and select the specific currency you would want to trade on your account.
- Place a check in the conditions box.
- Click on the “Sign Up” button.
The demo account is opened for a user automatically after registration. This account is stocked with a virtual demo fund of $1000. Which can be topped freely by any trader looking to get a better grasp of the Binomo trading system.
The demo account provides the same functionality as the real platform, allowing you to get an exceptional understanding of the system before trading in the main markets.
A standard account is a real account. It can be opened with a minimum of €10. The features of the standard account include:
- Assets available are about 40+
- Withdrawal of funds may take about three (3) days, depending on the payment method. (It does not work with Epayments, PayPal, Qiwi, and Yandex)
- Profitability is up to 85% (in the case of a correct forecast)
- Deposit bonuses are up to 100%
A gold account requires €500 as a minimum deposit. Gold account holders receive more benefits than standard account holders. They include:
- Access to a larger range of assets (about 50+ assets)
- Quicker withdrawals ̶ within 24 hours. (Depends on payment method. It does not work with Epayments, PayPal, Qiwi, and Yandex)
- Profitability is up to 90% (in the case of a correct forecast).
- Deposit bonuses are up to 150%
- A weekly cashback of up to 5% and analytical advice from a personal manager.
At the least, a VIP account requires a deposit of €1000. This account option gives the maximum benefits. They include:
- The widest range of assets (60+ assets)
- Withdrawal can occur in the four (4) hours (Depends on payment method. Also doesn’t work with Epayments, PayPal, Qiwi, and Yandex)
- Trade profitability is up to 90% (in the case of a correct forecast).
- Deposit bonuses are up to 200%
- A weekly cashback of up to 10% and analytical advice from a personal manager, insurance, risk-free trades, and prizes.
Deposit and Bonuses
Excluding the demo, each of the account types has a minimum deposit requirement. However, to hold a Gold and VIP account, it is not necessary to deposit the required amount at a time. Your account is determined by your cumulative deposits.
How to Use Binomo
After logging into the platform (via desktop or mobile), the main screen opens up to show a chart in a linear form. The chart shows how the price of assets changes with respect to demand and supply. The job of the trader is to examine the chart and determine the next direction of the market. Then enter a trade to make a profit. It takes in-depth knowledge, time, and experience to make a good income. Note that there is always a risk of losing invested capital. Indicators, economic calendars, and strategies are put in place for assistance.
How do You Open a Trade?
- Choose the asset(s): The profit each asset can generate depends on the time of the exchange operation.
- Choose an amount: This could be as little as a dollar or more. It depends on the amount in your account.
- Choose the time: Depends on the direction of the chart. It could range from a minute to sixty minutes.
- Open the trade: By clicking the up arrow (if you think the asset will go up) or the down arrow (if you think the asset will go downstairs)
- Close the trade: If your forecast is correct, 90% of the amount you earn is credited into your account right after the trade is completed.
Binomo App Download
In this computer age, the ability to trade on the move is a huge advantage. The Binomo app can be downloaded directly from Google Play Store for Android device users and Apple Store for IOS users. Notifications of transactions, tournaments, and up-to-date promotions are received on the app. It also offers easier access and trading conditions as long as there is an internet connection.
However, the desktop platform may still be required for in-depth financial instruments and analysis. Still, there is great comfort in knowing that you can carry your trade with you, wherever you go.
N.B: The apk file, which is only available to Android users, is an alternative way of installing the application on devices. It can be accessed here: https://binomo.com/en/promo/android
The Authenticity of Binomo
Since 2018, Binomo has been a class-A member of the International Finance Commission. The Finance Commission is a neutral organization that specializes in dispute resolutions in the financial scene.
Binomo’s status with the commission speaks volumes of its reliability, transparency, quality of service, and business practices.
Top Reasons Why You Need to Try Out Binomo
- There are no hidden fees or charges.
- Requirements to start is on the low.
- Easy access for newbies.
- A demo account to help beginners.
- It is user-friendly and easily customizable.
- Fast and reliable withdrawals.
- The platform is well-designed, highly functional, and allows for mobile trading.
- Binomo has lots of indicators to assist traders.
Binomo offers a live chat function on its platform. You can drop a message or inquiry in the live chat box (either on the mobile or desktop version). You’d be replied by the Binomo team in no time.
Also, there is an email contact link located at the bottom of the website. Allowing traders to access Binomo support through email.