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BUSINESS NEWS - In this review, we’ll cover all you need to know about how to invest and trade even if you have no experience. The article will tell you how to get an education, make your first deposit, and practice with other traders.
You will read about the 7 reasons why you need to use Binomo for safe trading and how it works.
A quick overview of what Binomo is
Binomo is a popular and reliable online platform where traders forecast changes in currency exchange rates and other assets to get extra income. It offers a web platform and a mobile app for your convenience.
With this online platform, you can practice for free, learn how to apply strategies, participate in contests, and become an experienced trader.
Read more about the company on www.binomo.com; there are also published details such as the head office address, conditions for traders, and much more. Further, we’ll go through the main 7 points that you need to know to start using the platform.
#1. Binomo is safe
Beginners sometimes ask whether Binomo is legal or not and if it’s safe or illegal in South Africa. Keep calm because it is a trustworthy platform for trading established in 2014. It serves clients in over 133 countries and gained a lot of positive reviews from them on forums for traders and brokers proving that is not a fraud.
In 2018, as a result of the Binomo reliability and transparency, it became a category “A” member of the International Financial Commission (IFC). The IFC also has a compensation fund for all its members, including Binomo, and it implies that your trades are protected. So, it is definitely not a scam.
Also, an organization such as Verify My Trade monthly audited 5000 trades on Binomo and awarded it a certificate of quality trades. That is another proof of why you can trust this platform.
Moreover, Binomo uses popular payment methods such as bank cards and e-wallets which means that the company gained the trust of credible financial institutions. You don’t need to doubt the company's legitimacy.
#2. Fast registration and verification
The registration procedure on Binomo is fast and clear for everyone:
- For logging in, get to the English binomo.com website on the net or use the official mobile app.
- You can sign up on the login page by using an email address and setting a password or sign in via your Facebook or Google account.
- Choose the currency of your account. It is important to know that once you have registered and logged in, you can not change it.
- Afterwards, you need to read and accept the terms of the Client Agreement so as to abide by the rules of the platform.
- Finally, log in through a browser on the web platform that is suitable for PC or downloads the Binomo app and access the platform from a mobile device.
Additionally, you can become a partner in the BinPartner affiliate program and earn extra funds by referring traders to the platform.
Note! If you decide to open a new account, make sure you read how to close the old one as having numerous accounts is against Binomo regulations.
#3. Free tutorials and practice on a demo account
There is no need to invest immediately after registration. On Binomo, you can take the necessary time to learn and practice until you feel confident in trading and ready to invest real funds.
You can watch the Binomo video tutorial to get familiar with the platform after you register an account. Then create a demo account with virtual funds to learn how to trade on the platform and how to read the chart. Even on a free Binomo account, you will have access to many features, strategies, indicators, and to a “Daily Free” tournament.
We should say that there appear questions like “How to play Binomo” because some people think it’s a game, but it’s not. Trading requires experience and analysis in each operation.
Apply various trading strategies described on Binomo and participate in tournaments to train and improve your results. Remember that no strategy guarantees 100% result of a trade. There is no “winning strategy” that leads to correct forecasting every time. So you need to rely on your experience, knowledge and develop a personal approach to price forecasting.
If you encounter a problem while practising, you can access the FAQ section called Help Center for finding tips and resolving your queries. It serves like Wikipedia for traders, covering all the main questions that a new trader may have.
Another way is to contact an agent from the support team to discuss your issue. You can easily do it through support@binomo.com or use a chatbot on the platform.
Keep reading to know how to invest money in Binomo and start trading on a real account.
#4. Safe investments and withdrawals
Binomo is a very reliable company for investments as it verifies the identity of all its traders and their payment platforms, this makes your funds secure during withdrawal and deposit. Also, it is a sign of a trustful platform if it works with popular payment methods. How does it work on Binomo and what’s the most popular payment system?
In South Africa, a minimum deposit and withdrawal amount is $10 and you can start your trade with as low as $1. Binomo allows several payment methods to invest cash; the most popular deposit options are VISA, MasterCard, Advcash, Skrill, Perfect Money, etc; still, some like PayPal are not among them. Then you need to know how to withdraw money from Binomo.
As per withdrawals, they should be made only through the same payment method that was chosen for depositing. The average time for withdrawals on Binomo could take from a few minutes and up to 3 days since you make a request. It depends on the payment system and the type of your Binomo account. Also, there are daily, weekly, and monthly withdrawal limits - $3.000, $10.000, $40.000 respectively.
There can be an account verification process initiated by Binomo. The automatic verification service on Binomo helps you confirm your identity in a record time of 10 minutes.
#5. Advantageous bonuses
See how the bonus system works on the platform:
- All Binomo users can receive a 25% welcome bonus on a free account during the 30 minutes after registration. For that, they need to make the first deposit.
- Deposit bonuses are offered when depositing funds. They depend on the amount and your account status.
- As part of the Binomo bonus terms and conditions, your manager may provide you with a bonus coupon or code as a reward.
- Binomo no-deposit bonuses include risk-free transactions for VIP account holders, mailing to users with a set-amount gift to the account, etc.
Read more about different awards for Binomo users in the Client Agreement.
#6. A modern system with FTT
Binomo offers fixed-time trades. This trading mechanics allows you to forecast whether the price will rise or fall within a period of time. To open a trade:
- Choose an asset.
- Deposit the necessary amount for your trade and define a time when you want the trade to be closed.
- Make a forecast - the chart will go UP or DOWN. If your forecast is correct, you get extra income, and if not - the deposited amount won’t be returned.
To reduce risk, you should be able to read the chart and make feasible forecasts. On Quora, traders can check reviews and make informed decisions.
Some traders ask how to make money on Binomo but it’s not a platform for a fast profit. Trading always requires skills and practice. Also, you shouldn’t rely on sources providing signals because they might be cheating - use only your own knowledge for forecasting.
#7. Mobility thanks to the Binomo app
Besides the Binomo website, the platform offers a user-friendly mobile trading app. Find the yellow logo on Google Play or App Store, and after downloading the app you can always check the Binomo chart, monitor your trading, and make deposits and withdrawals.
The app is very convenient - you can ensure yourself reading the app reviews on the net. It empowers you to have unlimited access to the Binomo platform anywhere at any time on your device as long as you are connected to the Internet.
Also, if facing problems with downloading the app for Android, don’t hack - use the APK from the Binomo website and start investing and trading.
Note that on Binomo vs. some other platforms like IQ Option there is no app to download for PC (Windows/Mac OS), and if you wish to access the platform on your laptop, log in to the web version. Although it can be even more convenient to trade in your browser because you have access to all the features without the need to download software on a desktop.
Invest and trade with Binomo
Due to its distinguishing features like contests, strategies, and educational materials offered to any user, Binomo is one of the most attractive online trading platforms. It’s a really reliable and regulated company, not a scam or fake. Once you learn the basics in training, you can invest from $10, trade on a real account, and earn up to 90% in case of the correct forecast.
However, remember that trading is risky, and you may end up losing all your investments. Practice and learn strategies to reduce risks.
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