What Is Binomo & How Does It Work?
Binomo is an online platform through which users earn extra funds by trading commodities, currency pairs, gold and other assets. Some traders may be unsure whether it is illegal or not. The company provides trading on a safe platform in more than 130 countries, including South Africa. You can double-check their head office address on the Binomo website for added assurance.
Registration & Verification
The registration and verification process on Binomo is straightforward, and you can log in with English or any other language suitable. Occasionally, a company may request documentation proving the account holder's identity, which took along. However, automated verification on Binomo now takes only a few minutes (vs IQ Option).
For a quick registration on the platform, follow the steps below:
- Find the Binomo login page on the web.
- Signup using your email address and password, or sign in using Facebook/Google.
- Choose a currency for your account (be careful; you won't be able to change it once you've registered.)
- Read and accept the terms of the Client Agreement and AML Policy to avoid losing your deposit or getting your account blocked.
Users who want to create a new Binomo account should first figure out how to close an existing one because multiple accounts are against the rules.
Free Guide On How Binomo Works
Binomo advises all beginners not to rush into investing because the first stage is to learn how to use it. On the website or mobile app, you'll find several free tutorials and tips to assist you in training and understanding the fundamentals of trading, like how to invest in Binomo.
Explore The Help Center & Strategies
The Help Center section of Binomo is comparable to Wikipedia for traders, where they may obtain answers to FAQs.
Furthermore, you'll also find a variety of helpful trading strategies on the Binomo platform. Keep in mind that no strategy can guarantee a 100% result on trade. Learn to swap between them, and you'll be able to build your price forecasting strategy over time. In addition, signals and bots are not used on the platform because they're considered cheating.
Those asking how to play Binomo must know that trading isn't about winning a game; it's about developing strategies and conducting in-depth market analysis.
Practice On A Demo Account
Binomo is suitable for both new and experienced traders because it provides free trading education via a demo account. Users can sign in for a free trial account and practise with unlimited virtual funds. It is the real empowerment for them to trade online in a secure environment.
After you've got a sense of the platform and how does Binomo work, you can make a first deposit and switch to a real account.
Participate In Tournaments
Binomo members have access to tournaments that improve their trading skills and earn extra profit. Also, the platform has access to a free tournament called “Daily Free”, where all users, including demo account holders, can test their abilities daily.
Additionally, if you want to get extra income, you can join the BinPartner affiliate program, where you will be paid for the referrals you bring to Binomo.
Trade Everywhere With The Binomo App
Not only can you use the platform on your PC, but you can also use it on your phone through the mobile app. It empowers you by allowing you to access Binomo at any time and from any location. Go to GooglePlay if you have an Android smartphone or the Apple Store if you have an iOS device and look for the Binomo logo to download the app. There is another method to invest and trade on the go if you are having a problem installing the Binomo trading app for android. There is no need to hack it; download the APK file from https://www.binomo.com/.
Binomo software is currently available for PC (both Mac OS and Windows); you can use the desktop version to access the platform from a computer.
How To Trade On Binomo?
Do you want to know how to make money on Binomo? This notion is incorrect. Instead, use your skills and expertise to earn additional income.
It should be noted that Binomo employs fixed-time trading (FTT). Here is the answer to how to trade on Binomo:
- Choose an asset to trade.
- Select the trade amount and time.
- Make a forecast: the chart will go UP or DOWN.
The trade amount and the income will be credited to your Binomo account if the forecast is correct. Otherwise, you will lose your investment.
Deposit & Withdraw Funds Safely
Binomo users' deposit and withdrawal methods vary by nation. Let's look at the deposit methods available in SouthAfrica: VISA, MasterCard, Advcash, Skrill, Perfect Money, etc. (except PayPal).
When you first log in to Binomo, you get a welcome bonus of 25%. You can activate it within 30 minutes by making the first minimum deposit. Additionally, by the terms and conditions of Binomo bonuses, traders can receive a no-deposit bonus from a personal manager, a bonus code or coupon during the promotion, a deposit bonus when they invest funds into their accounts.
How To Withdraw Money From Binomo?
You can only withdraw funds from Binomo using one of the payment methods you used to deposit for security reasons. Additionally, depending on the type of account and payment system selected, withdrawal of funds can take anywhere from a few minutes to three days or more after request.
You can withdraw up to $ 3,000 per day, $10,000 per week, and $ 40,000 per month with Binomo. It's also worth mentioning that some payment methods have withdrawal limits.
Also, no commission is charged on withdrawals on the platform. IQ option vs Binomo, for example, charges a $31 wire transfer commission.
Note! The minimum deposit and withdrawal on Binomo are 10$.
Binomo Is Not A Scam
We can state that trading on Binomo isn't a game. Those wondering whether the platform is real or fake should know that it is an asset trading platform regulated by the International Financial Commission and a trade quality certificate from Verify My Trade. For excellence in global finance and markets, the platform got the FE Award in 2015 and the IAIR Award in 2016. Find Binomo reviews on the net where you will come across favourable feedback from traders and brokers on reputable forums like Linkedin, which is additional proof that the platform is safe and not a fraud.
Try Trading On The Binomo Platform
This study answers all queries about the platform being safe or scammed. It indicates that Binomo is legal in South Africa, really cares about its users and strives to provide them with a smooth and secure experience.
However, keep in mind that there is always a risk of losing your investment if you make a wrong forecast. Therefore, do not forget about learning; use traders' tips, improve your trading skills and practice on a demo account. It will help mitigate this financial risk.