Binomo is one of the common global trading platforms on which you can gain on the increments or falls in currency trading rates, expenses and indices, goods, and various resources.
Their main goal is “A revolutionary small-investment trading platform.” Binomo offers an easy and helpful trading platform where a trade can be started with just a dollar hypothesis. For both new and veteran traders, binomo is mainly famous for its commitment to low commercial requirements and various other advantageous highlights. The company was built up in the year 2014 and is wholly based in Seychelles. The website is managed successfully by Tiburon Corporation Limited, and numerous branches are available across the world through nations.
Binomo Platform
Binomo is an exclusive, easy to use, and smooth trading platform for regulated financial derivatives. The broker offers you the perfect opportunity to trade on declining or growing markets. Without any issues, you can bring in cash on binomo. But, on the other hand, it is possible to lose cash because of the essence of exchange. Traders should know and follow certain strategies and tactics to make a profit. It is extremely simple and easy to set a trade with the binomo stage. Regardless, before the placing of trades, you need to know and analyze the market carefully. We will address everything that traders need to know about this broker in this binomo broker review before start trading.
Account Types
Binomo has several account types available, all of which require different amounts of deposit and provide a variety of advantages.
Demo Account
A demo account is a risk-free account that can be used by anyone to practice or check on the binomo stage. This accompanies all the assets accessible to work in a genuine record, and a replenishable 1000 amount of virtual money.
Standard Account
A standard account gives an easy admittance to the binomo site and a minimum cash investment of 10 units in tournaments, a maximum possible profit of till 85 percent per exchange, and withdrawal within 3 days. Despite all these advantages, there is a risk of loss of money in absence of proper trading knowledge.
Gold Account
A Gold account requires a base cash deposit of 500 units. Gold account holders get an extended range of assets to choose from, quicker withdrawals within 24 hours, a maximum possible profit of till 86 percent per trade, improved incentives, advice, and analytical support plus a 5 percent weekly cashback sum. Despite all these advantages, there is a risk of loss of capital in absence of proper trading knowledge.
VIP Account
A VIP account requires a minimum cash deposit of 1,000 units. VIP accounts offer all of the above benefits to the account holder, plus possible trading gains of till 87 percent, withdrawals in less than 4 hours, and till 10 percent weekly cashback. It also gives you access to the trading platform for all securities. Despite all these advantages in this account, there is a risk of loss of capital in absence of proper trading knowledge.
Regardless of the restrictive exchanging stage offering a VIP account, relative to other brokers that need a much larger deposit on their top-end account, the deposit is still tiny. Furthermore, low deposits demonstrate that this broker is a perfect selection for those new to trading.
Assets/Markets
Binomo is the administrator of more than 50 particular resources that can be traded openly by traders signed in to their network. These assets offer a range of different markets and choices, allowing as much competition and flexibility as possible for trade. Binomo continues to become an important service for traders of all types and kinds, with such a bounty of assets and products open to traders, particularly with more specialized assets.
Safety and Security
By using a proprietary framework explicitly built to be encrypted and accessible for all clients, binomo takes the protection of its clients seriously and achieves this objective. For both deposit and withdrawal, they also use well-known, reliable payment methods, ensuring your cash is always kept safe. All customer funds till 20,000 units of money are secured against fraud, according to binomo, while using SSL ensures that all data is encrypted and secure. One of the reasons why the trading platform continues to thrive against its rivals is because of this openness and a high degree of protection.
Distributions and the Commissions
Binomo does not charge any additional expenses or fees for the utilization of their trading and financial administration. Binomo brings in its cash from the income that is made when a trader makes a loss. For traders, this particular method of handling their profits is incredible.
Transaction Procedures
Binomo provides transactions that are helpful and proficient. Using several choices, such as visa, MasterCard, e-currencies, such as Perfect Money, Webmoney, Neteller, and even cryptographic types of money, such as bitcoin and litecoin, you may fund your account. You can withdraw the above-mentioned funds to the same account to which you have credited and the base amount of cash that you can withdraw is 10 units.
Trading Times
Binomo has relentless openness for its trading organizations – ideal for night individuals or those in different time districts because of its worldwide use. When dealing with certain characteristics, such as competitions and tournaments, specific time slots may apply.
Leverage
Like most other trading platforms, binomo does not use leverage as a component of its contributions. For dealers searching explicitly for leverage, they can find more success somewhere else. Binomo, however, has a lot of different points of interest for those sitting on the fence that makes it more than worth further investigation.
Mobile Trading
Binomo offers a high-caliber, completely acknowledged mobile app in addition to giving a versatile responsive stage to the work area rendition of their administration. On both iOS and Android, their trading app is open. To keep traders up with the date on purchases, deals, and tournaments within seconds of their launch, it uses pop-up messages. For those who choose to trade on the go, the use of alerts, and the overall quality of the app makes binomo a suitable alternative.
Special Features
Binomo provides customer service via several different media, including live support through their online platform. This live chat, however, does not appear to be available nonstop, so the alternative is to contact the company through social media or via their help email: support@bimono.com.
The analytical support and guidance that is available to Gold and VIP Account holders is another aspect of the binomo network. They also offer “free training” that provides a comprehensive knowledge base, perfect for traders who want to easily learn more about trading.
Drawbacks
Notwithstanding there being numerous positive comments about binomo as a help, there are additionally a few disadvantages joined to this stage. These include:
- Restricted resources, particularly with regards to those that appreciate trading in cryptocurrencies
- No desktop applications, just connectivity to smartphones and browsers
- Bits of knowledge, signs, or social exchanging is not accessible
Conclusion
Binomo is one of a growing number of traders offering flexibilities and alternatives. The company has switched from ‘out-of-the-case’ arrangements to its functional strategy that solves its clients’ problems. The current version of binomo is intended to provide traders with a range of on-point features that are expected to benefit brokers, both fresh and experienced, as well as offering their trading customers competitive features such as regular tournaments. For certain online brokers, these competitions are growing in prevalence and binomo is on the ball in terms of providing a functional, flexible, sensitive, and innovative platform that does it only for their specific customer base. However, misfortunes from exchanging are inescapable. Until beginning to trade, it is recommended for traders to apply their techniques and strategies to achieve successful trading and obtain benefits.
