We're going to be carrying out a full review of the Binomo trading platform in this article. So, sit back and relax as we take a smooth ride through all you need to know to kick-start trading activities on the platform.
But, before we get into all the intricate details on how to use the platform to get additional income, register, and do a lot of other stuff, let's get to know what the company is all about.
How does Binomo trading work?
Binomo is a trading platform where you can invest and trade assets. The company allows you to choose any available asset (their number depends on the type of your account), issue a forecast on its future value and get additional income (if your forecasts are correct) after a time stipulated by you.
It’s as simple as that!
Is it a scam?
What is Binomo? It is a sub-agency of Dolphin Corp. Their head office is located at St. Vincent and Grenadines.
Binomo also holds an “A” category membership certificate issued by a top financial service regulator, The Financial Commission. This certification also ensures it's verified by Verify My Trade (VMT), a medium that ensures the continued transparency of investment and trading platforms like Binomo.
Additionally, the Binomo company has got some special awards such as the FE Awards of 2015, as well as IAIR of 2016.
So, regulation by third-party international organizations allows us to view the Binomo platform not as a fraud or illegal, but as a reliable partner.
How to trade on the platform?
Let's examine, one after the other, all the bridges you'd have to cross on the platform before trading and earning an additional income.
Sign in and Login
To trade on the platform, you have to, first of all, create an account.
Account creation shouldn't take you up to 2 minutes and you'll be immediately opened up to a demo account. It is this account that you'll use in mastering everything about the platform, particularly how trades are initiated.
All you need to create an account or sign in if you already have one is your email and password. You can as well connect your Google profile and the platform would have an account created on your behalf using details from these social media platforms.
Note! When registering on binomo.com, carefully select the currency of the account. This cannot be changed afterwards.
Binomo account verification
Sometimes, when withdrawing funds, you may be asked for some important documents. These documents may include your ID cards, passport, and so on like payment proof, and are important for the company to identify and verify you as an authentic user. This is for your safety. Documents can be sent to firstname.lastname@example.org.
Deposit and Withdrawals methods
How does Binomo work? To move on to an actual account, you'd have to make a deposit, depending on the type of account you'd like to run on the platform.
A minimum deposit of $10 is allowed on the platform and this gives you a Standard account on which you can trade with real funds and withdraw the profit in case of making the correct forecast.
To deposit, go to the website in the Cashier section and make your deposit using any of the following payment systems: bank cards or e-wallet platforms (such as VISA, Skrill. MasterCard, etc).
For those wondering, “Can we withdraw money from Binomo?”. Yes, you can. Withdrawal can be made using any of the aforementioned methods. However, you are only allowed to withdraw your profits using only the methods you used in making deposits before.
On Binomo, there's no limit to the number of deposits. However, there are certain restrictions on withdrawals which you would want to go through in the Client Agreement of the platform:
- $3,000 a day;
- $10,000 per week;
- $400,000 per month.
Also, the withdrawal limit can be set by your payment system. Check this before entering the withdrawal amount.
The minimum withdrawal from Binomo is $10. The withdrawal time depends on the status of the account and the payment system (from several minutes to 3 days or more).
Bonuses and Coupons
Binomo offers a lot of bonuses to better facilitate the trading activities of members. These bonuses range from deposit bonuses to free coupons occasionally presented by the company or affiliates within the framework of promotions.
Below are the percentages of deposit bonuses you stand to enjoy on each account type available on Binomo:
- Standard - up to 100%
- Gold - up to 150%
- VIP - up to 200%
Other bonus types are also available on Binomo and can be accessed through agents who'd be authorized by the company to give these bonuses (for Gold and VIP account holders).
These bonuses, whether deposit or coupon-based can only be activated and withdrawn after the beneficiary has completed the compulsory trading turnover. The trading turnover is the profit earned after you have made a correct forecast while trading on the platform. More details about the turnover are written in part 8 of the Client Agreement.
Tutorials and Trading Tips
Binomo, in addition to its trading features, also gives tutorials to beginners who are just starting in the trading business. The platform even provides valuable Binomo trading tips to experts who need them to make profitable investment decisions.
The Binomo demo account allows you to master the whole trading process before committing some of your funds to it.
You can access all Binomo tutorials and trading tips on the following sections of its website:
- Help Center;
What is the Binomo app and how does it work?
The Binomo app is also available for trading assets and monitoring trade. You can get this app on any iOS or Android supported store, like the Google play store.
The Binomo Apk version, designed strictly for Android users, can also be installed from the website as well: https://binomo.com/en/promo/android.
Binomo is not only a great site for trading but a perfect hub where traders can learn and benefit from trading as well.
But, you must understand that trading on the platform comes with certain risks. You could make inaccurate forecasts and lose funds in the process.
This is why Binomo offers users tutorials and trading strategies for free to develop their trading knowledge. You can access these tips on the platform and immediately apply them to any trade you decide to place.
How to change currency in Binomo?
At the moment, it is impossible to change your current currency on Binomo. Currency type can only be selected during registration. You might want to create a new account instead to choose the currency you'd like to change to. But before creating a new profile you would need to deactivate the previous one as having two accounts is prohibited by the platform rules and they can get banned.
Why do I need verification?
Without verification, you might not be able to carry out certain actions on the platform. Actions such as withdrawal would not be allowed except you identify yourself as an authentic member of the Binomo trade platform. Your verification is like payment proof you have to tender for withdrawals to be approved.
Where can I access live bonuses?
You can as well access the company's website for current bonuses you can take advantage of to increase your extra-income-making chances.
What if I can't use a payment method I used before to make my withdrawal?
In the case you can't use a previously used payment method for your withdrawal, you must use an alternative one that has matching names with your Binomo account.
Any payment method without the same name you use on the platform will not be approved for fear of account hacks.