What is Binomo and is it safe? – Review of the trading platform in South Africa

0

There is a big buzz around Binomo, and many people wonder if the trading platform is really safe or scam. This review will tell you everything you need to know about the website and how it works, and why the investment company is legit and cannot be called fraudulent. You will also learn more about how to trade on www.binomo.com and use the mobile app.

What is Binomo?

Binomo is an online platform set up by Dolphin Corp., headquartered in Saint Vincent and the Grenadines. In addition to investments in more than 70 assets, the company offers additional income to its affiliate program partners. Binomo is an international organization so you can log into the site or app using any of 13 languages ​​including English.

Where to download the app?

You can install the Binomo trading app from Google Play or App Store. Be guided by the official yellow logo to avoid downloading fraudulent applications. If you are having trouble, there is no need to hack the app. To invest and trade from your mobile/tablet, download the APK from the official website. To note! The trading application is not available for PC on Windows or Mac software. Use the desktop version of the Binomo website.

Reasons why Binomo is safe and reliable

There is plenty of evidence that Binomo is not a scam or illegal. The company has been regulated by the International Financial Commission since May 2018. It guarantees each trader up to €20,000 from the Compensation Fund in the event of a dispute. Verify My Trade carries out a monthly audit of 5,000 transactions and confirms their quality with a certificate. You can verify that Binomo is legal in South Africa by reading its regulations on the website. Reviews on the net, for example on broker forums, will also help you determine whether the platform is real or fake.

Login and training

With your email, you can quickly register on Binomo. All you have to do is enter the correct address and develop a strong password. There are two other ways to sign up for Binomo, namely:

  • Google: You can sign in to your account by clicking the corresponding icon on the Binomo webpage or app. You will be automatically redirected to provide your login credentials.
  • Facebook: The procedure is similar to that of the Google account.

To note! You will not be allowed to change the currency selection after registration unless you close your Binomo account and then re-register a new one. New users should also read and agree to the Customer Agreement and Privacy Policy to ensure they are not violating Binomo’s rules. Protecting your Binomo account requires verification. You may not be required to verify your personality upon registration. But once a check is required, you will not be allowed to withdraw money until you complete it. To note! Previously, verification could take several days, but now Binomo’s automatic service allows traders to complete it in minutes (vs IQ Option).

A demo account

Binomo is one of the friendliest platforms for both seasoned and amateur traders due to its tutorials and training tools. Users get a demo account credited with $1000 upon first login. To note! Demo account holders cannot withdraw their profits as they are virtual.

Tutorials on how Binomo works

Another addition for traders is the availability of comprehensive educational materials. Although the platform does not give tips and signals, there are sections that will help develop trading skills. New users should consult the tutorials to understand how binomo works.

The help center

The Help Center is a kind of Wikipedia of the platform, where you can learn all about what Binomo is and how it works. This section offers answers to FAQs such as how to close the account, invest money in Binomo, complete verification, what deposit methods are available, etc. There will be no information on how to play or make money on Binomo as it is a trading business, not a gambling business. To note! Reach out to cool chatbot Cody or switch to a live support agent if you have more questions. In addition to the chat, you can write to support by e-mail.

Strategies

The platform offers a wide variety of tactics for both novice and experienced traders. However, trading is impossible without thorough market analysis; therefore, you need to develop a price prediction approach yourself. To note! Binomo is not a betting platform, so there is no winning strategy to guarantee 100% success.

Tournaments

The tournament is a fantastic opportunity to test your trading skills and boost your earnings on Binomo. Participation in contests is enabled using virtual currency. All Binomo traders, including demo account holders, have access to the “Daily Free” tournament. Unlike the rest of the competitions, it does not require an entry fee.

Invest and trade on Binomo

Binomo supports various payment methods in South Africa, such as bank transfers, cards (MasterCard, VISA) and e-wallets (Skrill, Perfect Money, Advcash). The company does not cooperate with PayPal. You can start real trading by opening a Standard account with a minimum deposit of $10. There are also Gold and VIP accounts with more benefits, which include, for example, personal no-deposit bonuses for VIP clients. Do you want to increase your trading potential? Binomo offers all new customers a 25% first deposit bonus. You can also apply coupons or free codes. The conditions of use depend on the type of bonus and the conditions of the promotional program.

What are fixed-time trades?

Traders can get additional income by forecasting the price of an asset. To open FTT:

  1. Select an asset and indicate the investment amount.
  2. Choose the time you want the trade to close (between 5 and 60 minutes).
  3. Predict whether the price of an asset will go up or down.

If the predictions are correct, you benefit.

How to withdraw funds

Withdrawing money from Binomo is a fairly simple process. For security reasons, the platform has limited the withdrawal options to those you used to deposit. The minimum withdrawal is $10. There is no commission, unlike other trading platforms. For example, IQ Option vs Binomo charges a commission of $31 for the wire transfer. To note! You can find out about the maximum withdrawal limits in the customer agreement. Depending on the provider, payment can take up to 3 days or more after request. But you can get funds within minutes or less than 3 days depending on the Binomo account you use. Withdrawals for VIP and Gold customers are processed faster than for Standard accounts.

Total on Binomo

We hope we can address the basic questions including “How does Binomo work and is this investment company safe?”. But the security of the trading platform does not mean that you will not lose funds if you make an incorrect forecast. There is no single winning strategy and you risk losing your deposit. Since your financial empowerment is entirely up to you, learn and practice on a demo account.

Share.

Comments are closed.