Binomo Review: Investment on Binomo App Trading Safe Or Scam?
Binomo is one of the premier choices for traders who are looking for a secure investment room. Losses and profits are always present in every successful trade.
Further, a trader strives for maximum profit and minimal loss. So, finding a platform ideal for managing risk is daunting. And Binomo does everything under one roof.
On the other hand, they have flavourful features that will make your trading journey delightful.
In our Binomo Review, we will explore the ins and outs of this high-end trading platform. From regulation to the trader’s review, we will fill the bowl with everything one expects.
Binomo Review – What Is Binomo?
High Capital Risk Is Involved In Financial Trading
Since 2014, Binomo has been leading the trading industry with upgraded and quality financial services. The platform is owned and operated in the same year by Dolphin Corp LLC.
They came into the market with a clear mission of–
“An innovative trading platform with small investment”.
Additionally, the platform offers trading education and strategies for upskilling traders.
Isn’t it cool?
In short, it is a perfect broker for both experienced and novice traders.
So, the platform is regulated, unique, easy to use, and smooth. Even you won’t experience market manipulation. What else does one need?
Furthermore, the platform has kept funds in separate accounts to protect the traders’ funds. On the other hand, it also maintains a strict customer privacy policy.
As one of the world’s most secure trading platforms, Binomo is IFC-certified, and all client risks are insured following the current laws.
Most importantly, it offers high-quality customer service, market analysis support, quality training for beginners, and exclusive profitable trading conditions.
All these will give you an unbeatable return of up to 90% or more. Let’s uncover why a trader should trust Binomo or not.
Awards and Achievements
Binomo has few achievements and awards for their trusted service.
Here is the list of their awards –
- 2016 IAIR Award (This award was for the best broker of the year)
- 2015 Forex Expo Award (The best brokers for beginners)
- Binomo is a Category “A” International Financial Commission Member
Regulation
Since 2018, Binomo is a Category “A” member of the International Financial Commission.
Binomo assures their traders that the platform is safe and secure to perform trades. If the broker does any fraudulent activity, the trader will get up to $20,000 from the Compensation Fund.
The complaint team will solve or find a proper solution within 72 hours if any trader file a complaint.
The company also abides by delivering services, transparency, and protection of an independent professional organization. Moreover, by joining the Finance Commission in 2018, it reaffirms its commitment to maintaining the highest standards of commercial honor and best business practices.
Furthermore, the broker has successfully passed the audit by Verify My Trade (VMT). This company usually certifies the quality of trade execution.
Why Binomo?
Thousands of online trading platforms are available, from the giant to the miniature. Not all of these are safe and secure for traders. And we understand how a regulated and high-quality trading platform benefits trades.
So, our research into the Binomo platform was extensive to ensure quality and transparency.
Our research led us to choose Binomo as a broker among many because of some incredible features.
- Regulated and Licensed
- Minimum Deposit $10
- Investment low as $1
- Min Withdrawal $10
- Three Account Types
- Demo Account
- Free Training
- Mobile Trading facilities
- Payout percentage 90%
- Bonuses, Promotion, and Tournament
- Trading instruments 70+
- Non-stop trading mod
- Smooth and Problem-free Withdrawal
- Quality Customer Service
- Trade on the Weekend
Login & Sign Up Process
Opening an account will cost you nothing. You can open a free trading account. Here are instructions on how to create an account.
Go to their official website
Fill the form with valid information
Select the currency
Agree with the terms and conditions
Click the button “create account”
Now you can log into your account using the same password and email address. But before that, do not forget to complete your verification process.
Account Verification
After opening an account, you must verify your identity by submitting legal documents. The company will ask for a copy of the client’s passport open to the page(s) with their photo and personal data or a copy of the front and back of their ID card.
In some cases, the company will also ask for utility bills, bank statements of their opening account, scanned copies of their bank cards, or other documents.
Depending on the situation, the company will need 10-30 days to complete the entire process. But if any client refuses to provide documents, the company has the full right to suspend his or her account.
Account Type
Binomo has three types of account Apart from the Demo Account.
Depending on the trading experience and trading criteria, you can choose one of the accounts.
These are –
- Standard Account
- Gold Account
- VIP Account
Standard Account:
Traders who choose a standard account can start trading by depositing $10. Moreover, traders of any experience level can open a standard account.
The minimum investment is $1. And a trader can trade with this minimum amount with real brokers.
Additionally, traders will receive analytical support. They can also participate in different tournaments and special offers.
Moreover, you can trade most financial assets with a fixed profit percentage of 85%. Customers will get a welcome bonus after opening an account.
Active traders will get unlimited top-ups. The most attractive feature is that you can easily withdraw profits for up to 3 working days. Additionally, technical support is mandatory for all types of traders.
Each Gold Account trader must deposit at least $500 to become a member. Unlike Standard trader, Gold Account trader is guided by a personal trade expert or a manager. Additionally, traders will have access to a broader range of assets.
You will also get the fastest withdrawals within 24 hours. Similar to the standard account, traders will get analytical support from professional traders.
Traders will also receive investment insurance bonus instruments. There is a return up to 86%, and you will also get a weekly 5% loss return.
VIP Account:
Trading on VIP accounts requires a minimum deposit of $1,000. Plus, traders get bonuses up to 100%, fixed profits up to 90%, and other benefits. Moreover, 10% cashback every week for VIP accounts.
Traders can also contact their personal account manager via Skype for analytical help.
Binomo Demo Account
Binomo will allow you to test the platform before investing your real money. Moreover, via the Binomo Demo account, a trader will get a unique opportunity to test all the platform’s features.
Additionally, you can practice trading with a Binomo Demo Account. You can apply trading rules on this platform to make your trades successful.
For beginners, it’s an opportunity to test out trading without risking any money.
For experienced traders, it is also great for testing out trading strategies. Binomo will give you $10,000 when you open a demo account.
Unfortunately, not all assets are available for a demo account.
Binomo Trading Platform Overview
A trading dashboard is the heart of any platform. The dashboard will introduce you to markets and allow you to color the lines for the most desirable outcome.
You can either fund your account or start with a demo. The initial deposit is minimal, just $10. Binomo offers an intuitive dashboard with innovative trading features.
On the right side of the platform, you will find two menu buttons. One is for changing the account types, and another one is for the funding account.
Additionally, you can see your trading history, strategies, tournaments, bonus, news, trading tools, and indicators from the left side.
On the other hand, you will get to see the economic calendar from the trading dashboard. Economic calendars are excellent tools for traders to keep track of upcoming financial events. It will also help traders to analyze the market.
Moreover, Binomo’s trade execution is fast. You won’t find any lag and connection problems. Aside from working smoothly, it’s also very flexible. Depending on your preference, the chart can be customized. And it is also a good sign for traders.
More than 100 assets are available on the platform. To place a trade, select a particular asset, along with the amount and expiry time. You’ll see the return percentage before you select an asset in the asset list.
By integrating the essential features into their platform, Binomo proves they’ve spent time evaluating and integrating online traders’ needs.
Binomo App – Mobile Trading
Along with the web-based platform, it offers a mobile trading facility to traders. It helps traders conduct and continues their trade anywhere and at any time.
Trading apps is available for IOS and Android device. The exciting part is that you can also get updated instantly about the closing transaction, tournaments, and promotions via mobile application.
Not only the live update but also you can set a notification which you cannot set from the website. The mobile application is designed excellently with all the necessary features.
Binomo X - Effective Drawing Tools
Binomo X is a reliable assistant for VIP traders. It’s a mobile application that helps traders analyze the asset direction from their mobile phones.
It is a drawing tool that support you to identify
– the support and resistant levels;
– trends and tendencies.
Going forward, traders will now have the capability to visualize critical trading levels. As a result, it is enhancing their understanding of potential market movements.
This improvement is poised to offer invaluable insights for strategic decision-making.
Trading Type
There is only one type of trading contract available in Binomo. The name of the trade type is High/Low. These are the classic types of binary options trades, known as Call/Put options.
The aim is to predict whether the asset price will go up or down compared to the current price. The expiry time of this option type starts from 1 sec to 60 min.
Moreover, the payout percentage is about 70% to 90%. The quicker and simple up/down trading condition is also known as 60-sec trade.
The list of expiry times is given below:
1 second, 5 seconds, 15 seconds, 30 seconds, 1 Minute, 5 Minutes, 15 Minutes, 30 Minutes, and 60 Minutes.
Binomo Indonesia
For Indonesian traders, it is a great platform to trade options and forex.
Binomo is widely running its business in Indonesia. There are no particular rules and government restrictions for Indonesian traders.
In Indonesia, the Financial market is regulated by the Indonesia Financial Services Authority. The authority is locally known as Otoritas Jasa Keuangan (OJK).
All Binary Options trading falls under the remit of the Indonesian National Bank. So, trading binary options in Indonesia is not banned by Law.
The regulatory bodies are responsible for regulating the trading industry. Moreover, they are not only responsible for local brokers but also for offshore brokers that have permission to operate a business there.
Furthermore, the broker does not provide a community just for this particular country. The trading platform is open for them.
Asset Index
More than 70 assets are available to trade in Binomo, including currency pairs, raw materials, cryptocurrency, and other over-the-counter assets.
There are also weekend assets. Each asset has its work schedule until it is posted on the site. Moreover, VIP traders can access the whole underlying asset.
From the underlying asset list, you can see the expiry time and return percentage. Furthermore, this article will help you to know which Cryptocurrency is more profitable to trade on the Binomo Platform.
Binomo Trading Tools, Indicators, and Strategies
In the Binomo platform, you will find a few trading tools and indicators. Using those indicators, you can make a strategy to trade a particular asset type.
On the other hand, the following indicators also help you to identify the market movement.
– Moving Average
– MACD
– Bollinger Bands
– The Alligator
– RSI
– Fractal Chaos Bands
Except for these main indicators, there are more indicators available in Binomo Platform to perform Binary trading. These are ADX, ATR, CCI, Stochastic, Momentum, Parabolic SAR, Awesome Oscillator, Ichimoku Kinko Hyo.
By seeing a chart, a trader will predict the movement of a currency pair. The price will change depending on the news, interest rate, and other economic variables.
Charting tools and indicators will guide traders in making trading decisions.
There are 4 types of charts, and they are –
- Mountain
- Line
- Candle
- Bar
There are a few charting tools that will help traders to guide in their trading time, and these are –
- Segment
- Continuous
- Line
- Ray
- Horizontal
- Vertical
- Trend line
- Doodle
- Rectangle
- Ellipse
- Fibonacci
- Channel
- Pitchfork
- Gartley
- Shape
- Crosshairs
Trading Strategies:
A few strategies are also needed to perform an excellent trade. Some strategies are simple, and some are complex.
On the other hand, some strategies are based on currency pairs, and some are on Trends.
To complete a successful strategy, you must use some trading tools and indicators.
For example, we come up with some strategies name –
- A Breakdown Strategy
- Rise in Profits With The “Step” Strategy
- The “Momentum + RSI” Strategy
- ATR+FIBO Trading Strategy
- Stochastic X2 Strategy
- Bollinger Zigzag Strategy
- “Minute Reversal” Strategy and so on.
Deposit and Withdrawal Method of Binomo Investment
As we mentioned, the minimum deposit is $10, but it will vary according to your account type.
The minimum investment amount is $1. Deposit is available via Wire transfer Credit Card – UnionPay, MasterCard, and VISA, electronic purses – Bitcoin, Litecoin, Neteller, WebMoney, Moneygram, Perfect money SMS-banking (cash deposit in the account via the phone), and ePayments (South Africa, Nigeria, India).
On the other hand, the withdrawal process is very user-friendly. You can withdraw the minimum amount of 10 EUR/USD.
Withdrawal through an e-wallet will take 3-4 hours (maximum time specified by the broker – 24 hours).
A trader can withdraw his money through a process. It generally takes 3-5 days a week, depending on the account type.
However, we have already mentioned the minimum withdrawal time in our account type portion. Binomo doesn’t charge fees upon deposit, purchase options, or withdrawal.
If you don’t trade your deposited amount within a fixed time, the broker will charge 10% of your amount.
Bonus:
Bonuses are available for Binomo traders. The bonus amount will depend on the account type. Moreover, newly registered traders will get a welcome bonus just after opening an account. Active traders will also get a bonus after depositing money each time.
Welcome bonuses range from 25% to 100%. You can get a 100% bonus on Binomo if you’re a VIP trader.
It’s easy to get bonuses by taking part in tournaments and promotions.
Also, you’ll find free and paid tournaments.
Also, traders who replenish their balances over $50 get a bonus.
High Capital Risk Is Involved In Financial Trading
Trading Tournament
The Binomo platform is popular among all traders for their tournaments. Tournaments will never be the same.
For every tournament, there will be special accounts. You can sign up for the tournament before it starts.
The participation fee also depends on the tournament features. You can also join the daily Free tournament and get a handsome prize fund.
All participants of the tournament do not start with the same tournament balance. The winning rate also depends on trading skills.
You can rebuy any time your tournament balance is less than the recommended amount. Each rebuy will cost a fixed fee or without a fee.
To sign up for the tournament, go to their page with the list of tournaments, select the tournament, open the detailed information and click on the “Sign up” button.
To successfully sign up, you will need to have an amount in your real account that exceeds the cost of participation.
Help and Support
Binomo cares about their traders. It is committed to helping traders at every step while conducting a trade. The 24/7 multilingual supports help you to polish your crack.
Besides, anyone can get help through e-mail. Moreover, traders can get analytical support from professional traders via Skype.
However, the live chat is the most effective support they provide.
Using this helping tool, a trader can get an instant solution, advice, and suggestion regarding the market and trade.
To get updated about their recent news and promotions, you can also apply for the newsletter via email.
Is Binomo Accept Auto-trading Bots?
Automated trading will simplify your trades. Unfortunately, Binomo won’t allow you to get this service. So, no, it’s not possible to automate trading with Binomo.
Is It Possible To Make Money With Binomo?
Honestly, to make money, you have to know how to place a successful trade. Analyzing the market and implementing a proper strategy is a must. The best way to make money on Binomo is to predict the correct asset price and wisely analyze market movement.
Advantages
Binomo is a client-oriented company that creates new possibilities in the market of leading trading technologies.
We found many advantages while researching this broker.
The advantages are-
- A high-end trading platform with a wide range of financial assets.
- Some of the market’s most advantageous trading terms and investment options.
- Analytical services for client trading.
- Various trading strategies.
- Convenience for both experienced and novice traders.
- You can monitor all your Open Trades.
- High-quality trading tutorials.
- Efficient and highly professional client support staff.
- Fast payout option.
Disadvantages
Nothing is perfect in this world. To improve service, they have to overcome the below drawbacks.
We faced a few problems while trading with this platform.
These are –
- Lack of High-yield options like Range or One-Touch.
- Don’t have precise information about Cryptocurrency, Stocks, and Commodities.
- Assets are not well organized.
- They disabled assets depending on their time frame. The time frame could be every alternative day or could be after more than 2 days.
- Due to the regulation fact, they don’t accept USA and EU traders.
Final Word – Is Binomo Scam?
We are about to finish this Binomo Review whether it is a scam or not.
Before concluding, it is mandatory to mention that the broker works relentlessly to invent new ideas to make it easier for new traders. You can easily earn profits in Binomo with a proper strategy.
Follow this trading guide to learn how to make money consistently using the Binomo trading app.
Where other broker’s platforms offer huge deposit amounts, but here you can trade by depositing a small amount. The collaboration with traders is completely transparent.
As we all know, the broker’s quality is important to have commercial success. On the other hand, a regulated broker can give you a secure trading environment.
Moreover, the highest level of mutual trust with every trader makes a pleasant investing climate. From the analysis, we can conclude that Binomo is not a Scam Broker.
Wish all the traders a great trade with huge success.
