Binomo is one of the leading online trading platforms which emphasizes on the technology side of trading. This broker gives the benefit of earning from both rises and falls in trading.
Binomo is mainly famous for Binary options. It was founded in 2014 but registered in 2018. It was registered as a Cyprus offshore company and a product of the company Dolphin Corp. It is based on Seychelles and is run by Tiburon Corporation Limited.
Binomo is operated in over 133 countries in the world and there are different branches all over the world. This broker provides the opportunity to bet on both rising and falling market with mostly Binary options. It helps to have a high profit in a short time period. As the number of traders using this broker is increasing day by day, they are also developing their programs and services on a daily basis. Hence, the International Finance Commission highly appreciates its quality. It has also been awarded some highest ranking at different times.
How Binomo Trading Works:
For any trader, it is important to know about a broker and its functions very well before starting trading in that platform. Choosing the right platform to begin trading is very crucial for a trader. If anyone chooses binomo trading, he or she should be fully aware of how this broker works. This article provides insights into the functions of Binomo trading.
- Trading Terminal: It has a modern platform with enough functions to trade rising/falling contracts. It can do technical analysis in seconds and minutes. It has some special features too. Binomo trading has up to 45 assets to trade, independent tabs with charts, 20 graphical tools for chart analysis, one-click trading without confirmation, keyboard controls, 14 technical analysis indicators, integrated economic calendar, scalable 4 mode chart, no slippage and high-speed functioning.
- Mobile Trading: Binomo trading also has a special adapted version that works on smartphones. There are authentic apps for mobile in App Store or Google Play. The phone version and desktop version are almost the same in features except for a few differences. Though some indicators, tools and techniques are not available in the phone adaption, it does not stop the basic trading.
- Account types: Binomo trading offers 3 different types of accounts with a demo account. Everyone gets a demo account to practice trading with non-withdrawal virtual funds after signing up. It has 18 basic assets with a return policy of up to 85%. Traders can use all the standard features and tools for analysing and practising trading. Standard account can be started with a minimum $10 fund. This basic level is offered with all the features available in the broker. One can also join the tournament with this account. Gold account is offered with a minimum fund of $500 and 38 assets. Its advantages are faster withdrawal, a personal manager and exclusive trading strategies. VIP account is offered with a minimum fund of $1000 and with full privileges. It also gives personalized services like a tailor-made training programme but it is best for the experienced traders.
- Creating Account: It takes only one minute to create an account in this platform. One needs an email and password to sign up but it is also possible to sign up through Google or Facebook account. It is not possible to change the currency after signing up even not with customer support. Identity verification does not bother if all the given information is genuine. Faking information creates problem while withdrawing a large amount of money. However, all the information of a trader is protected with strict data protection rules and encrypted while transmitting.
- Funding and Withdrawal: This broker accepts funding through VISA and MasterCard including other local or international methods depending on the countries’ system. However, one should remember that profits can be withdrawn only to the funding account. Though there are different funding options, this platform recommends the one with a minimum of $500. They also have bonus policies from 30% to 80% or even up to 100% which is added to the fund.
- Trader Training: Binomo trading offers training opportunities keeping the beginners in mind. This comes in two ways which are self-directed learning and mentored learning. First one is offered in demo account while the other one is offered in Gold or VIP account.
There are also some cons in this broker. For example, it offers comparatively limited choices of assets. It is also not accepted in the USA and some EU countries for the traders.
Finally, this article will help a trader to know all the functions and strategies of Binomo trading before choosing it for trading. With a few disadvantages, this broker is, however, a top online trading platform.