Safe or not: review and traders’ opinions about Binomo
You can make your conclusion after reading what exactly people figure out when taking trading seriously and spending time on learning
The review will explain all about what Binomo is and how does it work. You’ll learn why South African traders do not doubt the platform’s legitimacy and prefer it for investment and trading. It will also go through the platform’s advantages such as international regulation, quick registration, contests, free trading education and a demo account, secure deposits, and withdrawals.
A quick overview of what Binomo is
So what’s https://www.binomo.com? It is a safe online trading app/website where traders can sign up and earn extra funds on shifts in currencies and other assets without contacting an agent beforehand. This platform is excellent for beginners and experts. Carry on reading to find out more about how Binomo company works.
Regulation Binomo
In South Africa, is Binomo illegal or legal? To determine whether the platform is safe or not and understand if it’s real or fake, let’s check how it’s controlled. The platform is regulated by an independent organization – the International Financial Commission, which is sufficient proof of the platform’s reliability.
Additionally, a service that certifies the quality of trade execution Verify My Trade awarded the platform with a certificate of trade quality. Binomo got the FE Award in 2015, and in 2016, the IAIR Award for excellence in global finance and markets.
Search on the net for Binomo reviews on reputable forums for traders and brokers or on platforms like Quora to get answers to your FAQ about whether Binomo is safe or a scam. The platform’s head office address and any rewards and certificates are all listed on its website.
Registration and login
Sign in on the Binomo platform with your email address and password or through Facebook/Google. The website is available in English and other languages to log in with any language convenient to them.
- Head to the Binomo login page.
- Enter your email address and password.
- Select a currency. After registration, the account currency cannot be changed.
- Agree to the terms of the Client Agreement and Privacy Policy.
- Select “Create Account”.
If you previously used Binomo and wish to create a new account, check how to close an old one, as having numerous accounts is against regulations.
Moreover, you can also become a partner by registering in the BinPartner affiliate program to earn extra funds by referring traders to Binomo. Additionally, thanks to the automated verification process, account verification on Binomo has become much quicker than in the past, taking only a few minutes now (vs IQ Option).
Beginner’s tutorial
Trading on the platform is straightforward for beginners. You may start immediately in your browser after creating a free account without downloading or installing anything. The numerous tutorials available on Binomo will help you learn the basics, such as how to invest in the platform.
Help Center
You will find answers to all FAQs at the Help Center, which is similar to Wikipedia for traders. It helps to figure out how to deposit and withdraw funds, how to take part in tournaments, and more.
However, you won’t find any advice on how to play Binomo because trading is not a game. Instead, you will need to learn strategies and apply analytical tools. Trade wisely by conducting an in-depth market analysis.
A Demo account
The platform offers a convenient way to practice on a free Demo account to learn how to open a trade on Binomo and forecast price movements.
After logging in on Binomo, every trader can access trading tips and a Demo account to understand better how to use the platform. Traders can minimize the risk of losing funds and begin training before trading on a real account. Additionally, all users, including Demo account holders, get access to a free tournament called “Daily Free”, where they can perfect their skills on the platform daily and get a better understanding of how it works. However, the app does not allow you to access tournaments until you make a deposit.
Strategies and indicators
You’ll find a range of strategies, analytical tools, and settings for your charts on Binomo. Indicators are visual tools that help track price movements. Traders use them to evaluate the chart and make forecasts depending on the current price trend. Indicators are used differently according to your strategy. However, no trading strategy can guarantee a 100 percent trade result.
Try to figure out how to shift between strategies, and your price forecasting method will emerge over time. Also, keep in mind that there is no such thing as a “winning” strategy; therefore, you must rely on your expertise.
Note! Any additional sources like bots providing signals are considered cheating – please avoid them and learn how to forecast instead.
First investment
The minimum deposit on Binomo is $10. Depending on the country, different payment methods are available to deposit cash into your account. VISA, MasterCard, Advcash, Skrill, and Perfect Money are the most popular deposit options in South Africa. However, PayPal is not one of them.
Furthermore, when traders use a no deposit bonus or a bonus code or coupon, they may receive a 25% welcome bonus on their first deposit on a free account, according to Binomo bonus terms and conditions.
How to trade on Binomo?
Binomo uses Fixed-time trades (FTT), and trade takes place in the following steps:
- Choose an asset.
- Select trade amount and time.
- Make a forecast: the chart will go UP or DOWN: If it is accurate, you get extra income; if not – the invested amount won’t be returned.
Sometimes traders google “How to make money on Binomo,” but this trading platform should be used only as a source of additional income because trading is always connected with risks. Improve your skills and get experience to reduce them.
Download the Binomo app
Binomo offers traders an opportunity to not only trade from a computer but also a mobile app. The mobile app serves as a source of empowerment for you because you may access it from anywhere with Internet service. The yellow logo app is available for download on Google Play and AppStore. If you’re experiencing difficulties installing it for Android, don’t hack – go to https://binomo.com/en/promo/android and download the free APK version for investing and trading on the go.
Furthermore, there is currently no Binomo software for PC (both Windows and Mac OS). It is only available for smartphones and tablets. However, traders who want to use their computers to access the platform can use the web version to log in through browsers on their desktops.
Withdrawal of funds
Traders interested in finding out how to withdraw money from Binomo should be notified that withdrawals can only be made using one of the payment methods used to deposit, as per the security policy. Depending on the type of account and payment system chosen, withdrawals can take anything from a few minutes to three days or more. Also, note that the minimum withdrawal amount is $10.
Binomo allows you to withdraw up to $3,000 per day, $10,000 per week, and $40,000 per month. Some payment systems may also implement withdrawal limits. Additionally, the platform does not charge any commission on withdrawals. For example, IQ Option vs. Binomo charges a commission of $31 for wire transfer.
Traders’ reviews about the platform
What do traders say about the platform? It depends on many factors, and you can meet various opinions on the Internet. Some traders believe that they can earn without any effort and don’t spend time studying even basic principles. Others understand the importance of education and develop their forecasting method.
You can make your conclusion after reading what exactly people figure out when taking trading seriously and spending time on learning:
Junaid Khan: ”Binomo indicators are quite helpful in making accurate forecasts, and if you know how to use them properly, you should be able to benefit from them”.
Manoj Kumar: “Binomo is a high reward platform that comes with risks, so invest smartly”.
Nitish V: “Binomo is the ideal application for traders willing to start trading online”.
Trading wisely means that you take into consideration risks and necessary steps for understanding how this market works. Hopefully, after reading this article, you know why it’s important to make forecasts based on analysis and not rely on luck.
Invest and trade with Binomo
We conclude that Binomo is a really trustworthy and reliable platform suitable for all traders, and not a fraud as it’s regulated by independent authorities. No matter whether they have experience in trading or have just started studying this field, users can learn strategies, participate in tournaments and improve their skills in trading. The platform offers mobile apps for iOS and Android users that are very convenient for monitoring charts, making deposits, and practicing anywhere.
Keep in mind that trading involves risk, and anyone can lose the invested amount if they forecast incorrectly.
