Binomo: Entrance, Reviews, How to Trade in 2020

2 months ago
Binomo
Binomo

Binomo is a popular trading broker platform which users can earn on changes in the value of such assets as stocks, currency pairs, indices, CFDs, commodities and cryptocurrencies. Currently available in 133 countries. According to the data provided on the official website, about 40,000 customers use Binomo's services daily. 

The launch of Binomo took place in the summer of 2015. In the same year, received the status of the best platform for new traders according to the Forex Expo Awards. In 2016, it was named the trading platform of the year at the IAIR Awards. 

Binomo Managed by Dolphin Corp., registered in the island nation of Saint Vincent and the Grenadines (a popular offshore zone). 

What is Binomo?

Binary options broker 
Binary options broker 

The Binomo team calls its project an “innovative trading platform” with a wide range of financial assets (more than 50 positions). But in fact, Binomo is a binary options broker, since his clients do not work with real transactions for the purchase / sale, but only make bets, predicting further price movements. 

The result of such actions may be: 

  1. Winning and making a profit, the size of which depends on the terms of the transaction (up to 90%, according to information from the broker's website);
  2. Loss and complete loss of funds allocated to the bet.

However, the last scenario should not be a surprise for Binomo users, since on the main page of the site and in the user agreement it is indicated that financial transactions carried out through the site “may have an increased level of risk”.

The Binomo trading platform is presented in two versions - a web version and a mobile application for devices running Android and iOS systems. The site is available in 18 languages.

If you come from one of the 45 countries in which Binomo does not work, then you may encounter both.

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Official Binomo Website

Binomo: Login to the Official Website

Login to Binomo
Login to Binomo

To login the Binomo broker website, you need to perform just a few steps: 

  1. Step 1. Go to the official Binomo website.
  2. Step 2. Register a new account.
  3. Step 3. Confirm email.
  4. Enter the trading area of the Binomo platform with a username and password.

More detailed nuances of entering the Binomo website are given below.

Registration at Binomo

Creating an account on the Binomo website begins by clicking the "Register" button (in the upper right corner) or "Try" (in the center). 

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All that is required to be indicated in the registration form that appears is an email address that will act as a login, and an alphanumeric password. 

There you need to choose one of the proposed currency options, in which all financial information on the platform will be displayed. After that, all that remains is to put a check mark in the column for accepting the terms of the user agreement and privacy policy, and then click the "Open an account for free" button. 

Register on the Binomo website
Register on the Binomo website

The last step is to confirm the specified email address by clicking on the appropriate button in the letter that will come from Binomo support. 

Email verification to complete registration at Binomo
Email verification to complete registration at Binomo

After that, you can start working with the trading platform.

Binomo — Login to Your Personal Account

To enter your personal account, the Binomo user must click on the "Login" button on the main page of the site and enter the login (email) and password specified in the registration form in the form that opens. If you wish, you can check the option "Remember me", so that on subsequent visits you do without authorization. 

Entrance to the Binomo website
Entrance to the Binomo website

Immediately after entering the site, a window with the Binomo trading terminal is loaded, which also serves as the user's personal account. Here, most of the space is occupied by the every second updated chart of the asset selected for trading. 

To the right of it is a trading panel with fields for entering the amount and closing time, as well as buttons that open a deal in one of the directions: green — up, red — down. It also displays the estimated yield and percentage distribution of orders opened by other users.

Binomo Trading Platform Interface
Binomo Trading Platform Interface

To the left of the graph is a functional panel with the following menus: 

History — a list of transactions made by the use.
Strategies — tips for choosing a trading style.
Tournaments — a list of current trading contests.
Gifts — it contains prizes won in tournaments and bonuses received for replenishing the balance by certain amounts.
Economic calendar — a list of upcoming market events (with timers).
Indicator settings — a menu for adding various technical indicators to the chart and using drawing tools.

Also in the lower left part of the chart there are buttons for changing its type (7) and timeframe (8). 

Another panel is located at the top of your account. Here you can: 

  1. Choose a trading pair to conduct transactions.
  2. Change the type of accounts used for trading (real or demo).
  3. Open the user menu where you can see the status of the account, as well as go to the page with the user's personal data or to the “Cashier” for depositing / withdrawing funds (the same function is assigned to the yellow “Deposit” button).
The top panel in your Binomo account
The top panel in your Binomo account

As for the "Personal Data" section, here the interface language is changed, profile photo upload, full name, phone number, country of residence and other personal information, as well as linking to Binomo profiles in social networks, changing the password and blocking the account.

Binomo User Personal Information Page
Binomo User Personal Information Page

Also, through the menu on the left side of this page, you can navigate between the various Binomo information sections (knowledge base, FAQ, strategies, video tutorials, etc.). 

Deposit and Withdrawal with Binomo

Deposit and withdrawal Binomo
Deposit and withdrawal Binomo

Operations for depositing and withdrawing funds on the Binomo platform are carried out through the "Cashier" section. When replenishing the account balance, the user receives bonuses from 20 to 70% depending on the amount and the selected payment channel (bank card, AdvCash, Payeer, Yandex.Money, Qiwi, Neteller, Perfect Money, Bitcoin or Litecoin). 

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The most profitable is to make $ 1000 or more - in this case, you can get 60-70% of the deposit. 

True, in order to withdraw the bonuses received in this way, you need to create an equivalent trade turnover with a leverage of 35–40. 

Deposit via Binomo Cashier
Deposit via Binomo Cashier

Users with the “Free” account status (have never made a deposit) have no opportunity to withdraw funds. Therefore, to withdraw the balance obtained by participating in free-tournaments, you need to raise your status to the “Standard” level (from $ 10 to $ 499). For the latter, withdrawal is carried out within three days. 

Replenishment of Binomo account in the amount of $ 500 to $ 999 leads to obtaining the status of "Gold" and accelerate the withdrawal of funds (up to a day). VIP clients who have contributed $ 1000 or more to the balance are served by personal managers, and their applications for payments are processed within 4 hours. The remaining features of accounts with different statuses are shown in the screenshot:

Types of Binomo Account Statuses
Types of Binomo Account Statuses
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You can withdraw funds from Binomo only to those cards and wallets from which deposits were previously made.

The daily payout limit is $ 3,000. In addition, a maximum of $ 10,000 can be withdrawn per week, and up to $ 40,000 per month. 

Depending on the peculiarities of the legislative framework of the country of residence of the client, to carry out operations on the withdrawal of funds, it may be necessary to verify his identity with the provision of copies of a passport, bank statements, utility bills, etc.

How to Trade on Binomo

Trading on Binomo
Trading on Binomo

The trading process on the Binomo platform consists of several simple steps:

  1. Step 1. Choose one of the available trading pairs.
  2. Step 2. Indicate the amount of the transaction.
  3. Step 3. Select the desired time for closing the order.
  4. Step 4. Indicate the direction of opening the transaction.
  5. Step 5. Wait for the result of the forecast made.

But there are nuances in trading on Binomo, the details of which are given below. For example, you can trade not only real, but also virtual money. The latter opportunity is available due to the fact that all new users are credited with $ 1000 on a demo account. And this is enough to get acquainted with the trading terminal and choose the appropriate strategy for transactions.

Regardless of the type of account, the minimum order size is $ 1 or the equivalent amount in another currency. The upper limit on the size of the order is $ 1000 (or equivalent). 

It’s worth considering that in the demo version there is a small amount of assets available on the platform (about 18). To gain access to the doubled range of trading pairs,a user who considers himself ready for real transactions should replenish his balance by at least $ 10. But even after that, at any time he can return to the demo account and continue trading without risk.

Binomo capability
Binomo capability

Another feature of the Binomo trading platform is the ability to simultaneously open multiple transactions (Non-Stop mode). In addition, you can trade around the clock, 7 days a week — unlike many brokers, Binomo works seven days a week.

Now, with regard to the process of conducting transactions in the trading terminal. First of all, you need to decide on a pair of assets, according to which prediction of the course will be made. In our example, this is BTC / LTC. Next, you need to choose the most convenient timeframe for the user’s trading strategy (from 1 second to 30 days).

Then we indicate the amount that will be used to open the order and the time until expiration (closing), which cannot exceed 1 hour and cannot be less than 1 minute from the current moment. 

Below, under these fields, you can see the size of the estimated profit in the case of a successful transaction (+ 80% — $ 9 in our case). The last step is to click the button that determines the direction of the transaction (up or down).

Immediately after that, two vertical lines will be displayed on the chart, the first of which will indicate the time when the purchase will take place on a given order, and the second — expiration. And over the nearest of them there is always a timer with a countdown to the event. Also, a horizontal line is displayed on the chart, indicating the amount of the transaction and the level of its opening.

Opening an order in the Binomo trading terminal
Opening an order in the Binomo trading terminal

After purchasing a contract, the user can only wait for the schedule to reach the expiration line. If at this moment the asset quotation is higher than the opening level, the amount allocated for the transaction, increased by a fixed percentage for the current pair, is credited to the balance. In our example, it happened. But if the prediction does not come true, and the price of the asset falls below the line of purchase of the order, the trader loses his bet.

The asset quotation is above the opening level of the transaction
The asset quotation is above the opening level of the transaction

When opening deals it’s worth considering that the duration of the contract varies from 30 seconds to 5 minutes as the expiration time specified in the order increases. 

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It’s also important to remember that Binomo users should exhibit trading activity at least once a month, otherwise, a monthly account maintenance fee of $ 10 will be introduced. If the account is idle for six months, the site reserves the right to write off all the funds on its balance sheet in its favor.

Another interesting point — in the Binomo mobile application, an additional type of trading orders called “Strike” is available. In this case, the user indicates not only the amount and time of closing the transaction, but also the strike price, above or below which the rate should be at the time of expiration. 

The detailed review below will help you better understand the Binomo platform:

Binomo review

Binomo Training

Binomo Training
Binomo Training

Learning to work with the Binomo platform begins with the first welcome letter, which describes the purpose of the buttons on the toolbars and provides brief instructions on opening deals.

Also, after the first login to your personal account on the Binomo website, all user actions are accompanied by tooltips on working with the trading terminal. 

In addition, the FAQ, Knowledge Base, and Video Tutorials sections are available in the Binomo help section, information from which will help to master the basics of binary options trading, even complete beginners in this field. 

Binomo Reference Section
Binomo Reference Section

And for those traders who are used to constantly improving their skills, webinars are regularly held on the official Binomo Facebook page leading by platform experts.

Affiliate Binomo

Binomo referral program
Binomo referral program

Binomo affiliate program is implemented on a separate site binpartner.com. To participate in it, you must go through a new registration (as usual - specify the mail and password). After that, the user will be able to log into the personal account of the Binomo partner. 

Here he will receive welcome instructions from the manager-mentor assigned by the system and will receive basic training on how to attract people to the Binomo trading platform (through the site, social networks, YouTube, etc.).

Getting started with a Binomo affiliate program
Getting started with a Binomo affiliate program

Also in the office of the Binomo affiliate program there is a set of ready-made promotional materials (banners, landing pages, logos, widgets, etc.) that can be used to search for potential customers.

Promotional materials for Binomo affiliate program participant
Promotional materials for Binomo affiliate program participant

As for the size of the possible income from participating in the Binomo affiliate program, it all depends on the chosen tariff:

  1. Revenue share (default) — receiving up to 70% of deductions from platform profit received from each attracted new client (depending on the number and size of his deposits); 
  2. CPL — fixed deductions for registration of each attracted user;
  3. CPA — receiving a reward from $ 10 to $ 500 for new clients making their first deposit.

Changing the standard rate of partner deductions for one of the last two options is made upon request through a personal manager. In addition, there is a referral program in Binomo, involving 5-12% of the monthly income of attracted referrals. The payment of funds accumulated on the balances of affiliate accounts occurs weekly (on Thursdays).

Binomo Reviews

Binomo Reviews
Binomo Reviews

Binomo is a fairly popular binary options broker. Therefore, in the network you can find many reviews about it, and it is quite versatile.

Binomo — Scam or Not

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Since the Binomo platform has existed for more than 4 years, and all this time it continues to fulfill user requests for withdrawal of funds, it cannot be called a scam.

But speaking directly about the binary options trading process, there are some doubts. Quite a lot of users call Binomo a scam, claiming that asset quotes begin to behave “differently” after switching from a demo account to a real one. Allegedly, the charts are redrawn on short time frames so that the number of unsuccessful transactions of the user increases significantly.

Representatives of Binomo deny such things and insist that the increase in the number of losses is the result of "haphazard trading." 

Positive Binomo Reviews

According to the Coinpayments system, through which users replenish their accounts on Binomo with cryptocurrency, almost everyone is happy with the platform (13.5 thousand positive reviews versus 12 negative). On various forums, on sites with reviews and in comments on articles about Binomo, there are also a lot of positives. Mostly they write about the convenience of the trading terminal, a good set of technical indicators, sections of the platform with training materials, the presence of a demo account and the absence of problems with payments.

Negative Reviews about Binomo

At the same time, there are quite a lot of negative reviews in which Binomo scolded for the discrepancy of quotes to the real situation on the market, problems with verification and withdrawal of bonuses received. Sometimes there is dissatisfaction with the presence of delays in the execution of orders. It is also often possible to find allegations that all the positive reviews about Binomo are custom-made or written by the broker himself.

In general, judging by the positive reviews, Binomo is a good binary broker, which offers its customers the opportunity to earn money on a convenient trading platform, providing high-quality news and analytical support, as well as a good training base for beginners. If you believe negative — the Binomo platform is not very honest. 

Well, how things really are, you can find out only from our own experience. The main thing is to comply with risk management and trade only with the money that you are ready to lose.

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