Binomo App Review 2022 – Safe Trading App? Read This Before Get Started

Binomo is an online trading platform noted for its commitment to cheap trade minimums as well as a variety of additional beneficial features for both new and experienced traders. This trading platform is on its way to become a well-known online trading site around the world. Binomo is one of the most well-known brokers.

The purpose of the proprietary trading platform is to provide high-level support and assistance. Binomo also gives courses to help users improve their trading skills, guarantees client assistance, and provides analytical services. Binomo's headquarters are in St. Vincent and the Grenadines.

The trading platform was launched in 2014 that allows traders to earn. As a result, it can support high-level services as well as a wide range of intellectual products. The broker on the Binomo platform pays close attention to the traders' learned preparation.

This review goes over every aspect of Binomo's features and service, including the trading platform, mobile apps, demo accounts, and account kinds. Continue reading the Binomo review to find more about if Binomo is right trading option for you.

Quick Overview of Binomo Review 2022:

What is Binomo?

Binomo is owned by the Dolphin Corporation, which is based in St. Vincent and the Grenadines. The St. Vincent Bank Ltd website currently has over 861,429 daily active traders and over 29,682,945 lucrative weekly transactions. These figures are only going to get bigger by time.

Binomo broker trading organization provides services to clients on a global scale, ensuring the best possible conditions and providing high-quality access to borderless financial markets. The attractive offerings provide consumers with the highest level of mutual trust, as well as a user-friendly business exchange trading environment.

Their customer relationships are transparent, and their high-tech support allows traders to glimpse the true image of global financial company wants. There will be fewer danger warning alerts as a result of this. The International Financial Commission (IFC) has accredited the trading platform, and all of its clients' risks are covered under current legislation. All of these safeguards ensure that Binomo is properly protected in the trading industry.

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Is it safe to use Binomo?

If you're concerned about the platform's safety and authenticity, there's no need to be concerned because Binomo is safe and trustworthy asset trading platform regulated by the International Financial Commission. The site was also awarded a Verify My Trade accreditation of trade quality since it provides excellent service. The FE Award in 2015 and the IAIR Award in 2016 for excellence in global finance and markets are additional proofs of the platform's dependability.

Binomo Regulation

• Since 2018, Binomo has become a Category A member of the International Financial Commission (IFC). The IFC is a non-profit organization that assists with the regulation of financial markets, and the fact that Binomo is both regulated and a Category A member speaks to their broker reputation.

• The IFC maintains a compensation fund for all of its members, which is beneficial to traders. That means that if something happened to Binomo and funds were compromised, traders would be covered up to 20,000€. This safeguard ensures that traders' funds are protected and that Binomo recognizes the worth of their resources.

• Binomo is certified by the FMMC in addition to being an IFC Category A member. They're also audited on a regular basis by the IFC's VerifyMyTrade department. These regular audits, as well as their independent certification, attest to Binomo's brokering integrity.

• Binomo is also in the process of obtaining a licence from CySEC. Regulation is important for international customers when choosing a broker, and these certificates, audits, and regulations indicate that Binomo is a respectable broker with advantageous trading circumstances.

In which Countries Binomo is available?

Binomo is available in 133 different countries including, India, Brazil, Indonesia, Vietnam, and Turkey and others. But it isn’t available in the following countries:

Andorra, Australia, Austria, Belarus, Belgium, Bulgaria, Canada, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hong Kong, Hungary, Iceland, Iran, Ireland, Israel, Italy, Japan, Kingdom of Thailand, Latvia, Liechtenstein, Lithuania, Luxembourg, Malaysia, Malta, Moldova, Monaco, New Zealand, North Korea, Norway, Poland, Portugal, Romania, Russian Federation, Saint Vincent and the Grenadines, San Marino, Singapore, Slovakia, Slovenia, Spain, Sweden, Switzerland, Syria, USA, United Kingdom, Vatican, the Netherlands.

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How does Binomo works?

Some new traders on the platform inquire about how to play Binomo, only to realize that it is not a game. Before entering into trading, beginners must understand how critical it is to learn everything there is to know about the platform, including how to use the tools and read the charts. Before going to the Binomo website, where you'll find a plethora of helpful hints and lessons.

How to create an account on Binomo?

To create an account on Binomo and log in with ease, follow the steps below.

• Go to the official site or in the app, click on the Binomo login page.
• Choose English or any other available language in the upper right corner.
• Sign in using your Google/Facebook account or your email address and password.
• Choose a currency for trade. The account currency cannot be changed once it has been created.
• Read and agree to the terms of the Client Agreement and Privacy Policy to avoid infringing the platform's restrictions.
• Lastly, click on “Create Account”, and you are done.

You must delete an old account before opening a new one. It is against Binomo's rules to have several accounts. It's worth noting that the company may request documents proving the account holder's identity. Thanks to the Binomo automated verification system, it now just takes a few minutes (vs. IQ Option, which used to take days).

Account Types on Binomo:

Binomo offers a variety of account kinds, each of which requires a different deposit amount and offers a distinct set of benefits:

1. Free Account:

The characteristics of Binomo's free account are a replica of the genuine account. This trademark is an excellent trading tool for practising before participating in a live commercial exchange. This account type gives consumers the lucrative option of assessing the platform's highlights without spending any money into the system—clients can load a free account with digital currency for a profit of $ 1000.

1. Standard Account:

With just $10, you may start a Standard account. This is a legitimate account that gives you access to all of the Binomo trading platform's features, including the majority of the assets are accessible (there are 70 in total on the platform) Profit margins of up to 85% Trades start at $1, which is ideal for inexperienced traders wishing to improve their expertise. Money can be withdrawn in as little as three business days.

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1. Gold Account

A $500 minimum deposit is required for a Gold account. Aside from the aforementioned benefits, Gold account users get a wider range of assets to pick from, faster withdrawals (up to 24 hours), greater bonuses, advice and analytical support, and a 5% weekly cashback.

1. VIP Account

A VIP account requires a $1,000 minimum deposit for those who are serious about trading. All of the above privileges are available to VIP account holders, as well as bonuses of up to 100%, fixed trade gains of up to 87 percent, withdrawals in less than 4 hours, and a 10% weekly cash-back. It also grants you access to all of the trading platform's assets.

Despite the fact that the proprietary trading platform offers a VIP account, the minimum deposit is still minimal as compared to other brokers who require a significantly bigger investment for their top-tier account. Low deposits further imply that this broker is an excellent choice for novice traders.

How to trade with Binomo?

You may be wondering how to make money on Binomo, but keep in mind that online trading is not a quick way to generate money. Fixed-time trading (FTT) allows you to profit from price movements. Trading necessitates a certain amount of expertise and experience. Here’s how you can start Binomo trade:

• Select the asset you want to trade. Decide on the size of the deal and the length of time you want it to last.
• Make a prediction about whether the chart will go up or down.
• If it's correct, you'll make a profit; if it's incorrect, you'll lose your money.

Binomo Mobile Application:

Binomo provides a high-quality, fully functional mobile app in addition to a mobile-responsive platform for their desktop service. Both iOS and Android versions of their trading app are accessible.

It uses push notifications to keep traders informed about transactions and promotions as soon as they are announced. Binomo is a good choice for people who prefer to trade on the go because of the use of notifications and the overall quality of the app.

All of the essentials are covered in the app, and while the desktop platform may be required for more in-depth research and finer details, having your trades in your pocket has value. The Binomo app is perfectly styled to match the Binomo desktop interface, ensuring a seamless experience for individuals who wish to switch between the two at their leisure.

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Exceptional Features of Binomo:

Below are some of the features of Binomo that makes it stand out amongst its competitors:

1. Demo Account:

Binomo provides clients with a well-organized and accessible sample account. After logging in, you will be given access to a demo account where you can practise trading. The demo account is easily accessible by simply entering your email address information.

When a user completes the sign-up procedure, the trading account is endowed with a virtual $1000 reward scheme. Once clients become accustomed with the workings of the online trading app and site, this reward can be topped up at any moment for individuals seeking for positive returns.

This risk-free account will help you to determine whether it is right for you. Traders can learn about asset trading and training by using a demo account.

1. Various Payment Methods:

The client's trade requirements are met with all of the available payment choices' opportunities and benefits. It is a platform that provides clients with simple and convenient payment options that benefit their funds.

The trade account provides help to a wide range of international clients. This suggests that depending on the client's location, there is a high chance of profit. Depending on the client's location, the Binomo card and e-wallet help can be used. The extra benefits of the payment forms are suited for a beginner and equipped for a seasoned trader, and you can profit from assets worth $10.

1. Deals/Bonus and Promotions:

There are special offers available, but many are time-sensitive and change frequently. They are, however, prominently shown on the website, so you won't have to seek for them. Welcome bonuses appear to range from 25% to 100%, but they are frequently a little more intricate. The promotion, for example, permits you to make a deposit and receive up to $150 in free options.

1. 24 Hours Customer Service:

It is important, especially for inexperienced traders, to be able to contact their broker with queries and concerns. You want to know that if you have an issue or a question, it will be handled immediately and efficiently. Binomo has a live chat feature. To open the live chat box, simply click the little red message button at the bottom of the screen, whether on a desktop or a mobile device. After that, you'll see a choice of language possibilities.

1. Deposits and Withdrawals

The minimum deposit required by Binomo is determined by the type of account you choose to start. With a Standard account, you can start trading with real money for as low as $10, but with a VIP account, you'll need to deposit at least $1000 right immediately. You may be charged a 10% fee when withdrawing your funds, but only if you haven't performed a certain number of deals. Your data is encrypted and safe on the website, and funds up to $20,000 are protected against fraud. You can make deposits and withdrawals on Binomo in a variety of ways:

1. Credit Cards (Visa and MasterCard)
2. Jeton
3. Indian Banks
4. Neteller

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Binomo Assets/Market:

Binomo has over 60 different assets available for open trading for traders that have signed up for their platform. Forex and commodities are examples of markets. More turbulent markets are beneficial for short-term trading.

In addition to spanning numerous marketplaces, they offer a broad and comprehensive choice of distinct trades for their consumers to choose from. This larger range, as compared to more specialised trading platforms, might be beneficial to traders who want to dabble in multiple markets or test out other assets.

While Binomo only offers High/Low trading contracts, the variety of assets available more than compensates for this. The following are some of the current markets available on Binomo for people interested in trading:

1. Stocks from major companies/leading equities.
2. Currency pairs (AUD/USD and GBP/USD).
3. Indices.
4. Commodities pairs.

Binomo Trade Type:

The regular High/Low trade type, often known as call/put, and Turbo Trades are available on Binomo. The standard call/put derivative, High/Low, is widely available from all online brokers. Predicting whether an asset's final market price will climb above or fall below the price at the start of a specific time limit is known as high/low.

Turbo trades are comparable to standard trades, but with a shorter time limit. Binomo offers nonstop trading despite the fact that their platform doesn't feature a large number of trade types. Because the market never closes, you may trade whenever you want, even on weekends, which sets them apart from other online brokers.

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Advantages of Trading with Binomo:

Here are some of the advantages of trading with Binomo for traders, whether they are beginners or experts, who are considering it as a future trading platform:

• Low entry criteria, making it perfect for people who are new to trading.
• A fully functional demo account with all of the necessary learning resources.
• A simple and functional account tiering method.
• A well-designed trading platform with high-end features.
• Withdrawals that are quick, simple, and dependable.
• Concentrate on the fast-growing markets of Brazil, India, and Indonesia.

Downsides of Trading with Binomo:

Despite the fact that there are many beneficial aspects to Binomo as a service, it also has a number of disadvantages. These are some of them:

• Assets and markets are limited.
• There is no recognized regulatory body.
• There is no desktop software available; only apps and browsers are available.
• There are no insights, signals, or social trading available.

How to directly contact Bimono?

We want to assist our readers in any way we can, but it's sometimes easier to acquire the answers you need by speaking directly with your investment site. If you have a specific question concerning your trading or anything else you can contact Binomo through the following:

• Binomo Email: support@binomo.com
• Address: Dolphin Corporation, First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines.

Tips to Trade with Binomo

You can make use for the following tips to seamlessly trade with Binomo:

1. Trade Size: Only deal between 2% and 5% of your total balance on a single trade to give yourself the freedom to make excellent decisions.
2. Specialize: Learn everything there is to know about a select few markets. Thorough deals will occur to you after you have a good understanding of an asset.
3. Only trade with money you can afford to lose: Similar to trade size, you won't be able to make informed decisions if you need your trading cash to pay your bills.
4. Use the Demo Account to Practice, Improve, and Test Techniques: Use the demo account in conjunction with your live account to practice, improve, and test strategies.
5. Be Consistent: Don't chase losses or choose transactions at random. Keep track of your transactions.

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Conclusion

Overall, Binomo appears to be a fantastic option for a beginner/experienced trader. Our conclusion is based on the fact that they have a $10 minimum deposit and a $1 minimum trading amount. Even if you only put down $10, you'll be allowed to make ten trades to get a feel for the platform.

You'll lose less money on this platform than you would on many other popular sites with a $25 minimum trade requirement. Furthermore, their demo account is simple enough to entice even the most inexperienced traders to try it out.

Customer service appears to be decent, and the mobile trading experience appears to be suitable for on-the-go trading. The website is simple to use and browse. Binomo appears to be a decent alternative if you're looking for a broker that caters to first-time traders, in our opinion. 

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