Online trading is a popular way of making money, the essence of which is trading in the financial markets. The work is carried out at special sites provided by private companies. The market offers different options – dozens and even hundreds of them. In this article, we will conduct a detailed review of the Binomo broker . This company is in the TOP-3 of the best trading platforms for online trading.
Binomo at a glance
- Company . Binomo has been operating since 2014. CROFR is certified annually. Has the highest category of confidence in the International Finance Commission. It is very popular not only in the CIS countries, but also around the world. The site has been translated into more than 15 languages.
- Trade . Support for High / Low contracts with expiration of 1-60 minutes and yield up to 89%, as well as CFDs with unlimited profit and duration. The cost of contracts is from $ 1. Functional web terminal and smartphone applications. Tools for technical and fundamental market analysis .
- Finance . The minimum deposit and withdrawal amount is $ 10. Support for popular international payment systems and national services. Fast payments on time, in accordance with the established regulations.
- Support and training . 24/7 customer support center. Online chat, Skype chat, hotline phone, e-mail, internal tickets. Increased priority for processing applications for users with premium account status.
- Additionally . Regular paid and free tournaments. Deposit bonuses up to 100%. Periodic promotions and special offers for users.
history of the company
Binomo is a good example of how quickly newcomers to the market take the lead. When the company entered the market in 2014, few people paid attention to it. There were signs of “inferiority”, for example, a standard terminal from SpotOption was used. The founders of the company quickly realized this and made efforts to transform the platform as quickly as possible.
And after a few months, users saw a terminal of their own production. This immediately took Binomo a few steps higher. All “second-rate” trading platforms, of which there are hundreds on the market, use standard solutions, and prefer not to spend money on creating their own.
For the first year, the company has been actively improving its own site. And already in 2016, Binomo entered the top three market leaders in the CIS countries, where it has firmly held its position for 4 years. The company decided not to be satisfied with what has already been achieved, so the active development of foreign markets began. Currently, the platform is very popular not only in Russia and the CIS, but also in many countries of Asia, South America and Africa.
The motto of the company is maximum simplification while maintaining functionality. If we compare the site with competitors, then it will be distinguished by its lightness, speed of work and a minimalistic interface. This applies to all aspects from the first step.
Every visitor to the company’s official website is already half of its client. There is only one step left – you need to specify your email and password, and after clicking the registration button, a demo account for $ 1,000 will be instantly opened. It depends on the currency of the deposit chosen at the first stage.
Replenishment and payments
The minimum deposit amount is 10 USD, 10 EUR. The proposed list of payment systems depends on the country of residence of the trader by the network address of the computer. Clients from the Russian Federation have access to MIR, Yandex.Money, WebMoney, QIWI, Alfa-Click, Promsvyazbank cards. International services are also supported: AdvCash, PAYEER, NETELLER, PerfectMoney, VISA and MasterCard. The list of systems is periodically updated with new options.
The deposit amount affects the size of the bonus , as well as the level of the deposit. There are 4 of them – a demo account , a standard one, as well as – GOLD and VIP. The main advantage of premium status is individual service, which includes personal training with a mentor, the ability to order the development of individual trading strategies , as well as a number of special exclusive offers.
Trading terminal overview
Binomo offers a fully functional platform that allows you not only to make transactions , but also to conduct technical and fundamental analysis of the market directly on the company’s website.
Web terminal capabilities:
- Trade in contracts “Higher / Lower” with an expiration of 1-60 minutes;
- Indicator and graphical market analysis (14 indicators , 20 instruments);
- 50 trading assets from different categories : currencies, stocks, commodities, etc .;
- Trading in news using the economic calendar ;
- 4-mode chart with 6 timeframes , + there is a possibility of scrolling and zooming;
- Trading in multi-threaded mode (there are independent tabs with assets).
- Chart : line or candlestick , with indicators and charting tools;
- Top panel : cash desk, account type , personal account, information section of the site, tabs with charts;
- Side left panel : transaction amount, expiration time, contract direction (up or down), hot keys for trading from the keyboard;
- Bottom panel : setting the chart type and its timeframe , adding indicators or graphical analysis tools;
- Side right panel : history of transactions, ready – made strategies for beginners , economic calendar , information about promotions and tournaments, service notifications, individual gifts and a help section.
Also, from any page on the Binomo website, you can open an online chat and immediately connect to the operator. The service works around the clock and seven days a week. In addition to the web version, official applications are offered in the AppStore and Google Play Market. Their functionality is largely the same as the version for computers, but the range of tools for market analysis is greatly reduced. Also, CFD trading is carried out using a special mobile terminal.
Types and types of binary options contracts and underlying assets
Trends in recent years have shown a steady demand for binary options . These contracts have already appeared under the patronage of some world exchanges in the OTC assets section. The choice so far fell on the binary options PUT and CALL (lower / higher). Therefore, Binomo left only this type of contract, which has become a classic.
The expiration step is from 30 seconds for pipe options and up to 50 minutes (in 15 minute increments) for binary options.
Broker Binomo has implemented a non-stop mode in its binary options, in which there is no need to wait for the end of the expiration of the contract, the trader has access to transactions on it throughout its duration, it is possible to set a lock or increase the amount of investment in the current instrument by rolling the expiration time.
The underlying asset for option contracts is the major currency pairs , their cross rates, gold and oil .
For “VIP” accounts, the line of basic assets has been expanded.
Standard payments of option premiums are about 70-86%, but promotional payments reach 100%, which makes it possible to use win-win strategies for binary options.
The range of learning tools available changes over time. At the time of this writing, traders are offered the following options:
- Video tutorials – more than 50 videos, where leading Binomo experts reveal the key aspects of trading in a simple and understandable form;
- FAQ – a list of frequently asked questions of newbies on the topic of trading, as well as instructions for working in the trading platform;
- Strategies – ready-made trading systems with a detailed step-by-step guide to trading;
- Individual approach – training under the personal guidance of a personal manager using unique schemes (available only to GOLD and VIP traders).
Binomo hosts daily, 3-day, weekly and monthly tournaments. Anyone can participate – there are events with both paid and free admission. The number of winners ranges from 20 to 70 and depends on the format of the event, on average 40–60. This gives a real chance to every participant in the competition.
The screenshot above illustrates an example of how the fund was split among the top 12 winners in the daily Binomo Free Tournament. Participation in the Daily Free is a unique chance to learn how to trade with zero risk of losing real money. Participation in the competition is absolutely free, and the money for the victory is credited to a real account and can be withdrawn immediately.
Advantages and disadvantages
Summing up the review of the Binomo platform, let us highlight the advantages and disadvantages of the company from the point of view of traders.
Pros of Binomo:
- Simplicity – trading on the platform is simplified as much as possible from a technical point of view;
- Availability – the minimum deposit threshold of $ 10 gives everyone a chance;
- Profitability – up to 89% profit in 1 minute;
- Functionality – the terminal allows you to use hundreds of different strategies;
- Support – round-the-clock consultations of traders on any questions;
- Uninterrupted payments – Binomo has this issue “like clockwork”;
- Training – demo account, video tutorials, strategies, individual approach;
- Reliability – official certification, high level of international trust.
Cons of Binomo:
- Expiration limitation – the maximum period of transactions is 60 minutes;
- Small assortment of assets – only basic derivatives are present;
Disadvantages are significant only for highly specialized experienced traders. The overwhelming majority of newbies already trade within 1-5 minutes, and exotic assets (grain, oil , gas, etc.) are mainly needed by professionals of fundamental analysis.
Binomo – another scam?
Binomo binary options broker is a member of a reliable financial commission. Has been operating since 2014, has earned a good reputation among customers. The company has also successfully passed the audit of the quality of transactions conducted by Verify My Trade.
Frequently asked Questions
🎁 How to withdraw a bonus?In order for the Binomo broker’s bonus to become available for withdrawal, you must complete a trade turnover. For bonuses up to 50%, the turnover must be 35 times the amount received. If the broker charges more than 50% additionally, the turnover should be 40 times the bonus.💲 Can I change the account currency after registration?Not. The account currency is selected during registration.💬 What methods of contacting support are available for traders?Binomo binary options broker consultants answer questions via live chat, Skype, phone and email.🚀 What is the withdrawal speed from the Binomo platform?The company processes withdrawal requests within 24 hours.📝 How long does the broker take to check the documents sent for verification?Verification takes place within 10 working days, but in some cases it can be extended up to a month, which the company notifies in advance.📊 What technical indicators are available on the platform?There are 14 indicators on the Binomo website: Bolllinger Bands, MA, RSI, Stochastic, ATR, ADX and others.👛 Are there any withdrawal limits?Yes. Up to $ 3000 per day, up to $ 10,000 for a week, up to $ 40,000 for a month.
Among the companies providing platforms for online trading with fixed contracts “Higher / Lower” Binomo is one of the three leaders. The functionality of the terminals of the market leaders is approximately the same. Binomo’s unique advantage over its competitors is the presence of tournaments. You can also note the great emphasis on training and adaptation of the site for novice traders. This manifests itself in small nuances. For example, after registration, for the first time, the user is accompanied by tips that help him get used to managing the terminal.
Binomo is ideal not only for beginners, but also for experienced traders who want to make money by participating in tournaments. In conclusion, we note that even if you take the last places in the tournament grid, the size of the prize will pay off the costs many times over and, usually, ranges from $ 300 to $ 800. The winners of the paid tournaments who take the first 10 places will receive a reward of about $ 1-6 thousand.