Binomo review 2020 – reliable broker or cheater

What is Binomo?

Binomo is a world famous broker, which is one of the leaders in binary options.  This broker has been providing its services since 2014. In just the first year, the company has managed to build an excellent trading platform with a large number of instruments from scratch. Traders from different countries have highly appreciated the created platform. From the first day of work Binomo pays special attention to the safety of its trading platform, which is confirmed by the international certificate of FinaCom.

It is not surprising that for 6 years of its existence, this broker was able to create good competition to the more well-known trading platforms. Now he confidently holds leading positions not only in individual regions, but also in the whole world.

Broker Binomo
Date of foundation 2014 год
Types of support Chat, Telegram, E-mail, Skype.
Languages Russian, English, French, Spanish, Portuguese, Ukrainian, Turkish, Belarusian, Kazakh, etc.
Min. first deposit 10 USD
Brokerage commission +
Payments 90 %
Demo account Available 
Regulators International Finance Commission
Types of account Demo, Standart, Gold, VIP
Number of indicators on the platform 14
Currencies of account EUR, USD, Cryptocurrency
Expiration time From 60 seconds to 1 hour

Awards 

The activities of Binomo have received two high-profile awards:

binomo awards

These awards, issued by reputable organizations, testify to the high level of brokerage work. The company does not stop at the achieved and continues to improve its trading platform.

What assets can I trade on Binomo?

It is possible to trade with the following assets on this trading platform:

  • Currency pairs
  • Raw products
  • In shares 
  • Indexes 
  • Cryptocurrencies

Thanks to a wide range of assets, every trader will be able to choose a comfortable trading method.

binomo assets

Account Types on Binomo

As with any other brokerage exchange, there are several account types at Binomo. Each type has its advantages, which allows people with different starting capital and experience to trade comfortably on the platform.

There are 4 types of accounts:

  • Demo account
  • Standard – deposit from 5 dollars
  • GOLD – deposit from 500 dollars
  • VIP – deposit from 1000 dollars

Demo account

A demo account is a virtual account that will help you to see how trading happens on the stock exchange. Using it, you can train absolutely calmly, without fear of losing your real money. The movement of finances in this account does not affect your real account in any way.

Advantages of this account:

  • Ability to test the exchange without investing your money.
  • Free 1000 USD top-up option
  • Full access to platform functionality
  • Capital Management Training on the Exchange (especially useful for gamblers who have a hard time stopping)

Standard

The standard is an account designed for traders of any level. As a rule, it is used by beginners who do not want to invest large amounts. Using this type of account, the trader gets access to the full functionality of Binomo.

Advantages of this account:

  • Access to the most popular assets with fixed income up to 85%.
  • Deals from $1
  • Opportunity to participate in tournaments
  • No restrictions

Gold

Gold is an account for people with experience in options trading. When opening this type of account, a trader gets a number of privileges that can significantly increase the trader’s profit.

Advantages of this account:

  • Extended asset list
  • Expedited withdrawal
  • Return on assets up to 86%
  • Crediting bonus
  • Investment insurance with bonus funds
  • Consultation with a personal manager

VIP

This type of account is mainly opened by traders with extensive experience of successful trading on the exchange. When opening such an account, an individual account maintenance program and exclusive trading conditions are offered.

Advantages of this account:

  • Bonuses up to 100%
  • Fixed yield up to 87%
  • Withdrawal no more than 4 hours
  • Complete list of available assets
  • Real Estate Investment Insurance
  • Online analytical support on Skype
  • Weekly damages 10% by real funds

binomo account types

How do you trade on Binomo?

First of all, you need to study the trading platform, understand its functionality and train to sign contracts on a demo account. Once you feel confident in your abilities, you can start real trading. However, you should not expect that a trader will be able to earn a lot of money at once. As you gain experience, you will be able to increase your earnings.

The principle of trading on the platform is quite simple. We choose any asset and predict its movement. Depending on whether you put it up or down, you make a profit or go down. To reduce the risk of losing your own money you need to conduct fundamental and technical market analysis. To make it easier for the trader to do this, Binomo provides a number of tools for trading.

Tools for trading

For successful trading, you need to select the right tools to work with the selected asset type. The Binomo platform contains an impressive set of tools compared to other platforms:

Indicators 

  • MA – Moving Middle
  • MACD – Moving Average Convergence/Divergence
  • BB – Bollinger Waves
  • ALL – Bill Williams Alligator
  • RSi – Relative Strength Index

You can learn more about the indicators from the training videos provided by the broker. There you will see their practical application.

Tools for drawing analytical charts

  • Vertical
  • Rectangle
  • Ellipse
  • Form
  • Channel
  • Arbitrary form
  • Fibonacci figure
  • Gurtley
  • Plugs
  • Crossroads

You can customize each of these instruments to make you feel comfortable trading.

binomo tools

Trade strategies

For successful work on the online platform, a trader can use different trading strategies. Each strategy has its own features. Let us consider some of them. 

Scalping

Scalping is a style of trading in which you place a large number of bets in a small amount of time. Using this strategy, the trader earns on micro fluctuations of assets. This method is quite risky in comparison with other strategies. 

Trading takes place on turbo-options. The expiry time usually varies from 30 seconds to 5 minutes. This strategy is suitable for people with fast reaction, because you need to open up to 100 trades per day. Therefore, this method is suitable mainly for people with extensive trading experience.

Trading by signals

The best solution for a beginner.

Signals trading is a way of trading, during which a trader enters into agreements based on the signals of experienced traders or bots. The percentage of successful trades is kept at 80% on average.

When trading by signals, you study the market without risking your finances. You only listen to the prompts and act in accordance with them. You can find such signals on the Internet. They can be paid or completely free. 

Investment

There are 3 types of trade in this style: 

  • short-term type of trading – from 3 months to a year, 
  • medium term – from 6 months to 3 years, 
  • long-term – over 3 years.

This style of trading is mainly used by large companies and investors. However, many traders also use this strategy (especially the short-term type).

The peculiarity of this strategy is that the trader uses fundamental analysis of the world market economy. In particular, we study reports of large companies, which help to predict the fall or growth of assets of this firm. Sometimes this process takes several months or even years. However, in the end, a successfully acquired asset can bring huge profits.

Intraday

Intraday is a one-day trade. Usually, this is how traders who already have experience trade. Using this strategy, a trader makes a limited number of transactions per trading session. This trading strategy is suitable for the overwhelming number of traders: both beginners in this field, and experienced. Intraday is easier than scalping. There is no need to hurry. Everything happens slowly and measuredly. With this style of trading, you can learn to understand the subtleties of trading in a short period of time and begin to understand the basic principles of trading exchanges.

Registering with Binomo

The registration process on the trading platform is very simple. In the appropriate form you need to specify your e-mail address and come up with a secure password. This data will be enough for working with a demo account. However, to deposit real money into your account, you will need to pass the verification procedure.

After registration, a trader gets access to a personal cabinet, which consists of three sections: trading, cash and assistance. Let us consider each of them in detail.

  • The “Trading” section. The main section of the trading platform. In this tab, the process of trading and concluding agreements is performed directly.
  • The “Cashier’s Office” section. In this tab, the client can see the movement of their funds, as well as correspondence with the administration of the platform.
  • The “Help” section. Here a trader can find a number of training materials for successful trading.

binomo account

Training of traders Binomo

The main difference of Binomo is that it is focused on beginners in trading. Especially for beginners, a huge training base has been created.  It includes the following:

  • More than 50 videos in which Binomo experts explain in detail the features of the platform
  • List of answers to the most common questions that traders have when working with the trading platform
  • 24-hour support service. Customers can ask Binomo specialists for any complexity in a convenient way
  • Regular training webinars 
  • Newsfeed and analytical materials. 

binomo help

How do I deposit funds into my Binomo account?

Binomo offers its customers an easy and convenient way to deposit funds to their trading account. On the trading platform you will find a wide list of payment systems that cooperate with a broker. Here are some of them:

  • VISA, MasterCard
  • QIWI
  • WebMoney
  • Neteller

The minimum deposit amount is 10 dollars. For account replenishment you need to do the following:

  1. Log in to “Cashier’s Office” section. 
  2. Click “Deposit funds”. 
  3. Choose a payment method 
  4. Choose recharge amount
  5. Confirm payment

How to withdraw funds from Binomo?

For the comfort of its clients, the Binomo broker has simplified the withdrawal of funds from their account. The request for withdrawal is processed by the broker within 24 hours. During this time the client’s account will be checked in order to prevent the client’s money from falling into the hands of malefactors. If a trader has a GOLD or VIP account, the transaction will be processed within 4 – 8 hours. When submitting an order, a client can choose a convenient way to withdraw funds.

To withdraw your funds, you need to do the following:

  1. Enter the “Cashier” section
  2. Click “Withdraw funds”.
  3. Select output method
  4. Specify amount needed
  5. Send withdrawal request

binomo withdrawals

Is Binomo legal?

Binomo is the official international trading company. There are millions of traders from all over the world trading on it. Binomo has gained a reputation as a quality and reliable broker. It has certificates from FinaCom and DFID. These two certificates confirm the reliability and transparency of the trading platform.

binomo certificate

Conclusions

At the moment Binomo is a reliable broker, which is used all over the world. Every year it is developing and getting better, which undoubtedly pleases both beginners and experienced traders. If you want to try yourself in trading, the best solution is to start with Binomo.