Naturally, online trading entails significant risks. Nevertheless, traders often ignore the possibility of loss and rely on their experience and knowledge. As a result, the trading industry remains just as attractive for novices and seasoned traders. Given that there is a wide variety of bots, online brokers, and platforms on the market, the online trading industry becomes even more popular. Besides, brokers and platforms are frequently ranked and reviewed, which helps to accelerate and simplify the selection process. For instance, rankings of binary options like the Binomo trading platform clarify the basic features and operational performance of online brokers. This Binomo review will provide the baseline information on the subject. In a nutshell, it will provide useful insights into the key characteristics and cover particular aspects of the system operation.
About the Binomo Site
Given that the company has been on the market for only six years, it managed to successfully meet the needs of traders worldwide, draw the attention of investors, and build trust in a product. Besides, the company offers a wide selection of assets: from currency pairs to commodities, indices, cryptocurrency, and so on. Naturally, the platform provides a security guarantee for all the trading operations along with transparency and focuses on continuous improvement and growth. It is widely recognized by the global trading community and, therefore, received numerous awards.
Since the main goal of the platform is to be practical and easy to operate, it offers a whole set of features specifically tailored to meet the needs of traders. A user-friendly design not only comes in handy during the trading operations but also reflects the cutting-edge nature of the platform.
- Authenticity. Given that the platform is an official member of IFC, it ensures the safety of traders and their funds. Besides, the company created a compensation fund that can be utilized by the investors experiencing illegal activities.
- Funding. The platform does not require substantial investments. Moreover, it has an extremely small deposit requirement. Traders are expected to deposit only $10 at the very beginning of their trading road. It helps the platform remain accessible to different types of traders.
- Trading education. Apart from creating appropriate conditions for the trading operations, the company offers tutorial materials to make trading easily understandable for beginners. With the training section available on the website, traders can obtain the essential information on working with indicators and successfully applying various strategies with no extra effort.
In comparison to other platforms, this trader distinguishes itself due to the customization capabilities and comprehensibility. Considering that the platform was developed by the team of seasoned financial analysts and developers, its technical characteristics satisfy the requirements of traders. In other words, customization considerably simplifies the trading process. For instance, such characteristics as color, time frames, multi-charting, oscillators, and more than fifteen other indicators enhance the accuracy of chart reading. Besides, depending on the trading strategy picked, traders can choose time frames and, therefore, expect a specific expiration period.
Another contributing factor is the company’s customer support. The platform provides professional 24/7 support for its clients, focusing on continuous enhancement of its functionality.
As for registration, it comes with specific benefits. After the registration is complete, the platform rewards $1,000, which can be used for the test operations on your demo account. Since all the users have access to free demo accounts, they can take as much time as needed to practice. In a nutshell, there are no time limits on test trading.
Size of deposit: $10
Minimum trade: $1
Account types: Free, Standard, Gold, VIP
VIP account status: available after a $1,000+ deposit
Payouts: Free accounts with 18 assets available and limited withdrawal
Standard accounts – up to 85% with 14 assets available
Gold accounts — up to 86% with 42 assets available and 90% Binomo bonus
VIP accounts – up to 92% with 49 assets available and a personal consultant
Payment Methods & Withdrawal
In regards to withdrawals and deposits, there are several options available that address the needs of clients. Any of the payment methods listed below are at the disposal of the platform users.
- Yandex Money, Skrill, WebMoney, Bitcoin wallets, Qiwi, Neteller, ePayments
- Visa, MasterCard
In general, the withdrawal waiting time is less than or equal to three days. Naturally, the company strives for efficiency and completes financial operations within a short time. There is, however, a difference when it comes to the type of the account. For VIP clients, for instance, the waiting time is around an hour. As for standard account holders, withdrawal often takes up to 24 hours.
When it comes to software, the platform offers several options depending on the type of device. Traders can use a web platform or a mobile app. Today, a high-speed life requires traders to be adaptable. Therefore, a mobile app can be a perfect on-the-go solution.
Binomo Scam or Not?
Since the platform is legal and regulated, it does not use scam tactics. Instead, the platform offers a transparent experience along with suitable conditions for profitable trading operations. For instance, there are no hidden fees or significant deposit requirements. Besides, the company guarantees high ROI (up to 90%), regular contests with hefty prize funds as well as long-term and fast trades. Therefore, it regularly proves its trustworthiness and professionalism. Since the user numbers are regularly growing, the company should not be considered unreliable.
Even though there are numerous strengths and weaknesses to utilizing the platform, traders choose to stick with this exchange. Apart from free demos, tutorials, and training, the platform provides high yields and advanced security.