Online trading offers opportunities and massive rewards but entails risks. Naturally, traders tend to take those risks and rely on accurate market analysis, experience, and knowledge. As a result, online trading remains appealing for experts and beginners. Today, the great variety of online brokers, bots, and exchanges are commercially available. This fact makes the search for the perfect online trader relatively complicated. Since platforms and exchanges are systematically assessed by the trading community, the selection process gradually becomes simpler. For instance, assessments of exchanges like the Binomo trading platform illustrate the key features and platform performance. This Binomo review offers an insight into the system operation and provides an in-depth analysis of the platform.
Binomo Site Overview
Even though the platform has been operating for only six years, it succeeded in obtaining new clients regularly, capture the attention of investors, and strengthen trust in a product. Moreover, the platform offers traders multiple assets like commodities, cryptocurrency, indices, and currency pairs. Clearly, the platform cares for its image and reputation. Therefore, it guarantees high-level security covering all operations and other stored data. Continuous improvement of the system makes it possible for the company to enter a global arena, earn recognition and multiple awards.
Given that one of the primary goals of the company is to keep its platform practical and user-friendly, it provides a complete set of attributes and features specifically designed to fulfill the requirements of traders.
- Transparency. Based on the fact that the company is affiliated with IFC, it guarantees the safety of the funds. Moreover, the company established a compensation fund to support traders facing illegal activities.
- Investments. There is no need for substantial investments since the minimum deposit is only $10. This way, the platform remains available for the traders of any type.
- Tutorials. The platform creates beneficial conditions for its users and, therefore, provides full access to the online tutorials. The training section of the website helps traders to gain valuable information on how to work with trading indicators and successfully apply strategies.
If compared to other exchanges, this platform differentiates itself through customization capabilities, quality, and comprehensibility. Since the exchange was developed by seasoned trading experts with the involvement of financial analysts, its technical features comply with the requirements of traders. In a nutshell, such features as time frames, color, oscillators, multi-charting, and other indicators that allow reading the charts with greater precision. Therefore, based on the selected strategy, traders can appoint time frames and count on a specific expiration period.
Another factor that contributes is customer support. The company offers the help of trained trading professionals 24/7 and approaches service enhancement seriously.
As for the registration process, it is accompanied by practical benefits. After the registration, traders receive virtual funds in the amount of $1,000. This virtual fund can be used for demo trades and training purposes. Besides, it has no expiration date and does not depend on the type of account. In a nutshell, a demo account can be accessed at any moment, and test trading is not limited in any way.
Terms of Trade
Minimum deposit volume: $10
Minimum trade volume: $1
Types of accounts: Free, Standard, Gold, and VIP
VIP account upgrade: possible after a $1,000+ deposit
Payout details: for Free account holders – 18 assets available and limited withdrawal
for Standard account holders – up to 85% yield with 14 assets available and an 80% Binomo bonus
for Gold account holders – up to 86% yield with 42 assets available
for VIP account holders – up to 92% yield with 49 assets available + a personal consultant
Methods of Payment & Withdrawal
The platform offers various options regarding deposits and withdrawals that satisfy the needs of platform users. The methods listed below are available for any account holders.
- Skrill, Yandex Money, Qiwi, ePayments, WebMoney, Neteller, Bitcoin wallets
- Visa, MasterCard
Typically, the platform guarantees the withdrawal waiting time to be no longer than three business days. The platform, however, aims to remain efficient and usually completes all financial operations in a very short time. Even though the waiting time depends on the type of account, the difference is not critical. VIP account holders often have to wait for about an hour, and standard account holders usually wait up to 24 hours.
On the subject of software, the company provides access to a couple of options depending on the device but fulfilling the requirements its clients have. The platform users can choose the web platform or an app. The fast-paced lifestyle, however, might require an on-the-go solution for traders. Therefore, the platform also offers a mobile app for a transparent trading experience on the move.
Binomo Scam or Not?
Since the company is regulated and vouches for being trustworthy, it managed to build a legal trading platform. Besides, it creates perfect conditions for lucrative trading operations, does not have hidden fees, and ensures a high return on investment that reaches 90%. Another contributing factor is the availability of both long-term and short-term trades. Finally, the company holds regular contests that guarantee massive prize funds to traders. Since it regularly proves its reliability and expertise, the company keeps retaining and attracting traders. Therefore, it cannot be considered a scam.
Despite multiple pros and cons, traders around the world keep choosing this platform to run their trading operations. In addition to free demo accounts, training, and tutorials, the company offers high yields and warrants high standards of security.