Brokerage Company and Its Binary Options Trading Services

10 min read
22 February 2021
Zaine Allen
Content on this page is intended for information and educational purposes only and should not be considered investment advice or investment recommendation.
A REVIEW OF BINOMO

Brokerage Company and Its Binary Options Trading Services

10 min read
A REVIEW OF BINOMO
22 February 2021
Zaine Allen
Content on this page is intended for information and educational purposes only and should not be considered investment advice or investment recommendation.

About Options Trading

With the development of the Internet and appearance of binary options trading, private investors received unlimited possibilities to enter the financial markets. An option is a standard exchange contract that gives the right to buy or sell a certain asset (commodity, securities, futures contract) on special terms in exchange for a fee - a premium. Options trading allows traders to form and use many different trading strategies. But the first and foremost task is to find a reliable brokerage platform that offers this trading instrument. And we offer you this review on Binomo, one of the famous options trading brokers, to learn what Binomo offers to its customers.
Binomo on different platforms
Binomo on different platforms
Binomo on different platforms

Binomo Details

Binomo is a broker that provides a binary options trading service. The company started its activity in 2014. Despite its young age, the broker is considered one of the most innovative and advanced trading platforms with full access to the financial markets. Its main office is located in St. Vincent and the Grenadines. At the beginning, Binomo option trade service offered the standard terminal from SpotOption. And in a year, the broker developed its own platform Binomo. It took the company only a few years to attract a lot of customers and rightfully take its place in the list of the leading online brokers in the CIS countries. And Binomo rating is still positive today. The company worked hard to expand its activities to the foreign markets. Currently, all traders know Binomo international and its terminal is accessible to citizens of many countries, including India and South Africa. This broker accepts traders from 133 countries, allowing beginners to join the platform with minimal Binomo cash investment.
In short, the company history looks as follows:
2014
Binomo foundation.
2015
Creation of a unique terminal, receiving an award for the best site of the year for newcomers, obtaining a certificate from the Center for Financial Development.
2016
Entering the list of top online trading resources, gaining wide popularity, winning the IAIR Awards.
2017
The beginning of active development of the international space, translation of the site into other languages.
2018
A large-scale update of the Binomo online trading platform, the addition of CFDs, tournaments, the emergence of video tutorials, the receipt of the highest "A" category from the International Financial Commission.
Binomo App
Binomo App
Binomo App

Regulation

There is very intense competition among brokers for the attention of the customers. Some dishonest sites publish false information, stating Binomo is fake. But it is far from being true.

In May 2018, the broker became a member of the International Financial Commission (category "A"). This fact is a clear confirmation that Binomo is a reliable project that guarantees users a high quality service, transparency of cooperation, as well as the protection of their funds by a world-known authority. This certificate proves that the company is being regularly checked. In case of financial problems on the platform, you can easily take your funds back, which also testifies to its reliability.

In case of a dispute, you should do the following:

Send a letter to the broker with the problem details. You will receive a receipt notification within 72 hours. The full response to your issue and its resolution should happen not later than a month after the date of your mail.

If your issue was not resolved or you are not fully satisfied with the offered solution, you have the right to send a request to the Financial Commission, describing all the nuances of the dispute.
Platform advantages
Platform advantages
Platform advantages

Official Site

The broker created a user-friendly site with all information conveniently structured per blocks. But to get access to a trading terminal, you need to be a registered user.

The sign up procedure only requires your email address. If you don't want to use your email address, you can simply long it with the help of your Google or Facebook account. Another big benefit is that the platform is easily accessible via browser and mobile Binomo app, meaning you can trade on the go. The content of the website is translated into14 languages, making it easier for international customers to start their trading career.
Platform advantages
Binomo Home Page
Binomo Home Page

Binomo platform

According to official Binomo information, at the start of its activity, the broker used a third-party platform, but rather quickly created its own professional terminal for options trading. It was the right decision as the broker immediately started growing popularity among option market traders. The Binomo option trading platform is systematically updated and supplemented with effective tools and services. Today, the terminal has the following set of trading functionality:

  • A wide-format quotes chart for comfortable market analysis with functions of changing the scale of quotes and forms of their display, market history and visual display of trading positions.
  • High stability of the terminal during trading and the fastest possible execution of orders within 1.7seconds
  • Set of automatic indicators
  • Graphic services for market analysis, including: lines, rays, channels, Fork, Fibonacci levels
  • Optimally effective types of options - turbo, binary
  • Non-stop trading format
  • Intuitive interface with customization function.

Binomo trading online platform is well designed and very easy to navigate. The interface is not overloaded with technical elements that often affect the usability. There are also many basic indicators and tools that enormously facilitate the trade.
Binomo Web Terminal
Binomo Web Terminal
Binomo Web Terminal

Trading Conditions

Let us review Binomo trading requirements. The conditions offered by this brokerage company are extremely loyal to both experienced traders and newcomers to binary options trading.

  • The minimum trade is 1 USD / EUR.
  • The minimum deposit is 10 USD / EUR.
  • Options can bring up to 87% of profit.
  • The deposit can be topped up in dollars, euros or rubles.
  • Possibility to recover up to 30% of incurred losses.
  • 60+ assets to trade.
  • Deposit-withdrawal of funds - from 3 to 24 hours.

You can deposit and withdraw funds using VISA, Master Card systems, as well as using the most common electronic payment systems.
Assets on Binomo
Assets on Binomo
Assets on Binomo

Account Types

Binomo clients are offered several options of trading accounts, the choice of which is determined only by their experience and financial capabilities.
Binomo registration
Binomo registration
Registration on the Binomo Platform

  • Demo

The account is intended for novice traders who are just making the first steps in online trading. After registration, virtual $ 1000 is credited to it. It also provides access to several major assets and a free tournament.

  • Standard

This account becomes available after a $ 10 replenishment. Users can trade 40+ assets that have up to 85-87% yield if the forecast is correct. Funds are withdrawn within 3 days. In addition to the free tournament, account holders can take part in other competitions, while a bonus of up to 100% is given to the deposit.

  • Gold

This account can be activated after the deposit of $ 500. It is designed for experienced traders and allows you to trade with 50+ assets with a yield of up to 90% if the forecast is correct. Funds are withdrawn within 24 hours. The account holder gets access to a personal manager, insurance. Cashback up to 5% (in some cases) and a deposit bonus up to 150% are also provided.

  • VIP

The account is designed for traders with extensive experience. The minimum deposit for the VIP account is $ 1000. Instead, the client can trade 60+ assets, enjoy deposit bonuses of up to 200%, as well as the possibility of insuring personal funds and risk-free transactions, cashback up to 10% (in some cases), consulting a personal manager. The profitability on this account is the same as that of the Gold account. Plus, users can take part in VIP tournaments.
Traders sometimes comment in the Binomo broker review that withdrawal time for Gold and VIP account holders can be extended up to 3 business days in certain cases. It depends on the trader's payment system.

Note that the number of assets you can trade is limited depending on your account type. To access more assets, you need to open a gold or VIP account, which means you need to invest more of your money.
Terminal web Binomo
Terminal web Binomo
Binomo Platform

Demo account

Not every broker provides the possibility to trade binary options on a demo account. Many terminals are available only after deposit replenishing. For beginners in binary options trading, it is completely unprofitable, since trading is very risky, and the chance of losing the invested money for beginners increases significantly. Binomo offers a training account to all clients after the registration.

After entering the official site of the Binomo company, the system will immediately open the option for the client to select the type of account: demo or real.

Both accounts are practically the same. But on a demo account you deal with virtual money, hence you do not have financial risks. As Binomo customer reviews say, the demo account has one drawback. A trader can use not all assets here, but only the most popular ones. You can easily find them in the list - EUR / USD or GBP / USD. But you will have no access to stocks or commodities. To get access to these assets, you need to make a deposit to Binomo real account, at least in the minimum amount of $ 10.

The demo account is unlimited. It gives a real opportunity to study all trading intricacies, check how support service works, whether the platform is convenient and stable.
Demo version of Binomo
Demo version of Binomo
Demo version of Binomo

Customer support

According to the Binomo trade review, the technical team works around-the-clock. Any trader can contact it with any questions or difficulties he faced while working with the system.

There are several channels to reach the operator:

  • You can send your query via a special form that you will find on the official site of the broker;
  • You may send email to the address support@binomo.com;
  • You can phone using hotline 8-800-555-71-85 (the working hours are specified on the site);
  • You can also get support via Skype at "support.binomo" (make sure you are talking to the official representative of the company);

There is also an online chat option on the company's website - this is the fastest and most convenient way of interaction based on user comments on Binomo feedback.
Technical support on Binomo
Technical support on Binomo
Technical support on Binomo

Training with Binomo

The official website of the broker contains a lot of education materials.

You will find the following training materials from Binomo:

  • A large selection of webinars conducted by real professionals in options trading.
  • A good choice of video tutorials that cover the most common trading issues.
  • The broker offers a clear and simple help center with instructions for beginners.
  • You can also use an online book as a study guide that contains basic materials.
  • A glossary where any trader will find information on any term of interest to him.
Training with Binomo
Training with Binomo
How to trade on the Binomo platform

Funds replenishments and withdrawals

Many trading platforms are criticized for long delays in the withdrawal of earned money, sometimes the process can take up to a week or even more. But Binomo review 2021 proves this is not the case with the current platform. Here, the process is well-tuned, and the client will receive his Binomo funds usually in a day. In some cases, this term is prolonged to 3 days.

Binomo review sources inform that you can use a variety of payment methods. The broker supports traditional bank transfers, debit and credit cards, as well as all popular electronic wallets. The platform does not charge commissions, but you need to check what fee is applied by your payment service before making a transaction.

Conclusion

Summing up the above, it is absolutely clear that Binomo fake accusations are not justified. It is a reliable trading platform, not a scam. This review of Binomo proved that the broker has easily passed the scrupulous test and is worth the attention of every broker. This decent platform for online trading comes with all the features you need to successfully make money on the financial market. The platform is well designed and offers many trader-friendly features. You only need to follow one golden rule of online trading – always start your acquaintance with a new broker by opening a demo account. It will significantly minimize potential financial risks.
Binomo
Binomo

GENERAL RISK WARNING:

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
87% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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