Binomo Review 2024: Is It Worth a Try?

HOW DOES BINOMO STAND OUT?

We will go over every tiny detail and aspect of online trading platforms in the context of Binomo. I will tell you how Binomo stands out, which will surely intrigue you to continue reading further.

All-in-one: It includes several services, including analytics, client support, and training.

Plenty of tradeable assets: Binomo has many assets available for its users, more than 60 depending on the account chosen.

Multiple deposit methods: Bank accounts, crypto wallets, and other e-wallets are all supported by Binomo.

Low minimum deposit: The minimum investment amount is only $10.

Highly regulated: The Financial Commission regulates it. If this is not enough for you, be patient. There is so much more that we will find out as we continue.

WHAT IS BINOMO?

Binomo was formed in 2014. It’s a relatively new addition to online trading. Did you know that although it is based in Seychelles, it has several branches?

Let’s talk in detail about the broker. As discussed earlier, Binomo has been regulated by the International Financial Commission since 2018.

The International Financial Commission is a self-regulatory and external dispute resolution organization. It is mainly for forex trading and other financial markets. This assures Binomo’s quality, reliability, and safety. The Financial Commission also regulated Grand Capital.

Binomo is focused on short-term trading, which means that long-term trades are not available. But, do not be disheartened; short-term contracts bring tons of benefits themselves. Its account currency is USD or EUR.

Binomo platform

When it was first released, Binomo used third-party software as its platform. Now it creates its own solutions to meet customers’ needs. Binomo has some of the best and most advanced technologies and tools to create an excellent application. As you may remember from the beginning of this article, Binomo is not only a broker but also has analytical and training functions.

It has many technical tools that allow users to quickly conduct a thorough analysis of the assets. Hence, there is no need for a third party to conduct the analysis, and users can feel more involved in their trading this way.

If the broker ever faces bankruptcy, Binomo will cover your deposits up to 20,000 Euros. I think you probably understand the basics of what Binomo is by now. Now, let’s go into the details of how it works.

HOW DOES BINOMO WORK?

Binomo is convenient, practical, and simple to use. You do not need to install an application on your computer. It’s a web app. Let’s explain this:

The first thing you do is place your bet on a rising or falling market. Next, pick the expiry period of the chosen trade and decide if you will open a short or long position. Once the expiry date arrives, you will either make a profit or lose your investment. You simply choose the direction you think the price will move and begin trading.

The yield you will make will depend on the asset you are trading. Here is a straightforward description of how Binomo works:

• Pick an asset and analyze it.
• Predict how the price will move in the future.
• Pick an expiry time for the trade.
• Invest an amount (minimum $1).
• Click Call (long) or Put (short) to open your trade.
• If your prediction is correct, you will earn a substantial profit.

Binomo’s instruments include: Currencies, stocks, metals, commodities, and cryptocurrencies. Here’s a complete list of assets you can trade on Binomo:

• Cryptos
  • Bitcoin
  • Cardano
  • Altcoin IDX
  • Bitcoin Cash
  • Litecoin
• Forex
  • EUR/USD
  • EUR/CAD
  • USD/JPY
  • AUD/CAD
  • GBP/JPY
  • GBP/USD
  • EUR/JPY
  • USD/NOK
  • USD/DKK
  • GBP/CHF
  • USD/HKD
  • EUR/CHF
  • EUR/AUD
• Stocks
  • Apple
  • Alibaba
  • Netflix
  • Meta
  • Tesla
  • Citi Group
  • Microsoft
  • McDonald’s
  • AIG
  • PayPal
  • Boeing
  • JD
  • AEX
  • CAC
  • IBM
  • Coca Cola
  • Twitter
  • Nvidia
  • Yum Brands
  • Intel
  • Starbucks
  • Visa
  • Qualcomm
  • Weibo
  • JPMorgan C
  • Ferrari
• Commodities and Metals
  • Oil
  • Gold
  • Silver

Selecting assets on the Binomo platform

WHAT IS THE BINOMO TRADING PLATFORM?

Binomo allows trading of leading equities, currency pairs, and indices. Furthermore, you can use the platform whenever and wherever you want. It is available 24/7 to accommodate its customers around the world. Let’s look at the platform in detail. From the first impression, the platform appears to be clear and well-structured. It is possible to personalize your view.

For technical analysis, you can use various chart types, indicators, or other tools. Binomo also features a iPhone trading platform, which is available in the Apple App Store, and the Android app is available in the Google Play Store.

Binomo incorporates candlestick chart analysis and an economic calendar. Binomo’s trading platform updates regularly for optimal trading circumstances. The platform includes over 20 graphical tools to assist traders.

Binomo platform

What Trading Indicators Are Availble on Binomo?

There are several trading indicators available in Binomo. These include:

• Moving averages (MA)
• Parabolic SAR
• ATR (Average True Range)
• ADX (Average Directional Index)
• CCI
• Awesome Oscillator
• Stochastic oscillator
• Relative strength index (RSI)
• Moving average convergence divergence (MACD)
• Fractals Chaos Bands
• Momentum
• Ichimoku Kinko Hyo
• Alligator
• Bollinger bands

Accessing indicators on the platform

If technical indicators are important to you, Quotex, another binary options brokers, offers many more.

WHAT KINDS OF TRADING ACCOUNTS ARE AVAILABLE ON BINOMO?

There are four types of accounts. You can choose the one that best fits your needs. All accounts provide good trading conditions. So, let’s discuss them in detail.

1. FREE ACCOUNT

Although this account is free, it is still an excellent platform. It is helpful for training purposes before conducting live business transactions.

The free account option allows users to analyze the market without investing funds. They can load a free account with cryptocurrency for a profit of $1000. The account enables 32 assets.

2. STANDARD ACCOUNT

The standard account is available to many traders with a background in trading. Standard account users get the full functionality of Binomo.

You can access the most critical business exchange stocks with a fixed income of up to 85%. You can also settle transactions by financing with a minimum value of $1 for actual trading.

You can also engage in competitions held by Binomo and have the freedom to renew your account without any restraints. The standard account provides access to 48 assets and also has a “happy hour.”

3. GOLD ACCOUNT

A gold account adds even more benefits. First, you can scale your predicted assets and withdraw your stocks within 24 hours! How impressive is that? Customers can also get a return profit of up to 90 and are eligible for up to a 150% bonus when renewing their accounts.

You are also provided with Binomo’s investment insurance at this account level. Analytical assistance is available to gold users, and experienced traders approve the trading strategies. Finally, gold users are given weekly compensations through actual stocks in 5% cash back. Gold Accounts provide access to 60 assets and also offers a happy hour.

4. VIP ACCOUNT

If you think the gold account will not have enough capacity for your funds, Binomo has a VIP account for you! VIP accounts are for users who want to deposit large sums of money. VIP holders get bonuses of up to 200%!

They also receive account maintenance programs that come with exclusive business opportunities. The fixed stocks of a VIP holder can reach 90%, and withdrawals occur within 4 hours of the request.

Like the gold account, the customer cashback compensation policy is 10%. VIP account holders have access to 73 assets. They also have a personal manager, can win prizes through tournaments and competitions, and receive account insurance and risk-free trades.

DOES BINOMO OFFER A DEMO ACCOUNT?

Yes, Binomo does offer a demo account where you can trade with virtual money. These are often called “paper accounts” and are very useful for beginners to get an idea of the platform. You can use a demo account for however long you want, and it is free! If you want to upgrade, your broker can do that for you immediately.

HOW SAFE IS BINOMO?

Binomo is a legitimate platform used by people around the world. Does that mean it is safe? Indeed, it is proven to be reliable and safe to use. Let’s dig deeper!

Binomo is scored as Category A by the International Financial Commission. It offers up to $20,000 in protection in the rare and unexpected case of bankruptcy.

Binomo regulations page

WHERE IS BINOMO LOCATED?

Binomo doesn’t have a location page on their site. You can find all the info on the “About Us” page. So, I had to dig deeper. Let’s see where Binomo is.

Binomo is based in St. Vincent and Grenadines. They are an offshore company that accepts traders from over 100 countries, including India, Malaysia, the Philippines, Thailand, and Nigeria.

WHO OWNS BINOMO?

In the last section, we discussed the Binomo location. Now I want to tell you who owns it. It’s important to know that info. So, let’s read it. Binomo was established relatively recently in 2014. I say relatively because there are much older platforms, such as Saxo bank, which was founded in 1992.

Binomo is owned by Dolphin Corp., also located in St. Vincent and the Grenadines. The managing director of the company is Sofia Gabriel.

HOW TO DEPOSIT FUNDS IN BINOMO?

After opening an account, you need to deposit. What are the possible ways to do that? Binomo offers fewer methods than many other apps. Let me explain!

There is an 87% asset profit for Binary Options at Binomo. Adding more than $1000 will upgrade you to VIP status with greater returns. There is no fee charged when you deposit funds in Binomo. The minimum deposit for advanced and beginner traders is set at $10, which is very low. Yes, that is a good thing! The minimum trade is $1.

HOW TO WITHDRAW FUNDS FROM BINOMO?

Binomo has limited deposit options. But what about withdrawals? Are the methods the same, or are there additional options? Let’s see what we can find out!

With Binomo, users can easily withdraw their funds. What else could you want? The approximate withdrawal time is three days.

Of course, this will vary with the type of accountyou choose. For example, it only takes hours to withdraw funds from a VIP account.

The minimum amount you can withdraw is $10. There is no fee charged upon withdrawal. The withdrawal occurs through credit cards, bank transfers, crypto wallets, and e-wallets.

HOW TO CONTACT BINOMO?

Binomo app crashes sometimes. So, if that happens, you need to contact the company. What contact options are available? Let’s find out.

You can contact Binomo representatives through:

Phone

“But I don’t want my number exposed.” If you thought that, your second option is:

Email

“No, tell me something else.”

Okay, then how about an online chat using your account? It is perfect for those who do not want to use their number or email on a trading platform. Binomo’s website contains their email address, phone number, registration address, and other information needed for contact purposes.

Email: [email protected]

Contact number: +18499366003

Website: binomo.com

Address: Dolphin Corp, First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent, and the Grenadines

DOES BINOMO OFFER PROMO CODES?

I love promos. They allow you to get discounts on trading. Indeed, who doesn’t want that? Let’s see if Binomo offers promos.

If you are a user of Binomo, you will regularly receive great deals. These include coupons and promotions garnering decent profits. Coupons are a type of promo code.

So yes, we can determine that Binomo does offer promo codes. Other deals include topping up the user’s account with supplemental funds when the user deposits an amount. It is kind of like a sign-up promotion.

DOES BINOMO OFFER BONUSES?

As we just mentioned, Binomo does have lots of deals and promotions. But do you know that they change every day? Is that good or bad? Let’s find out more!

Just remember to choose the option that provides you with the best value. And also, check the terms and conditions to avoid any misunderstandings. You can get a bonus of 25% if you have a free account.

DOES BINOMO CHARGE TAXES ON PROFITS?

Does Binomo withhold taxes? No, Binomo does not deduct taxes. They have complete info on it. Let’s look into it.

Binomo is not a tax agent. Any payable tax depends on the rules and regulations of traders’ own countries.

Binomo tax info

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