Binomo is one of the most famous investment platforms in over 130 other countries. In this review, we will talk about free educational materials, a demo account, how to download and use the app, sign up and withdraw cash from Binomo in Pakistan.
Binomo in brief - what is it?
Binomo is an online company that allows you to invest and trade over 70 assets. The platform with the recognizable yellow logo has been used since 2014. It has established itself as an international broker and is available in 13 languages including English.
Binomo has its own affiliate program BinPartner, which allows users to earn extra income up to 70% from each engaged trader. Details on the official BinPartner website.
If you want to understand "Is Binomo a scam or not?" It will be useful to know that it’s under regulation by the laws of Saint Vincent and the Grenadines, where its head office is located.
Note! Binomo isn’t a game, so you cannot learn how to play here. It’s also incorrect to ask how to make money on Binomo. This is a trading platform where you first need to gain skills, and only then think about profit.
Is Binomo legal?
The company received certificates from independent organizations and several awards. Binomo is regulated by the International Financial Commission, and the quality of trade execution is certified by Verify My Trade. Therefore, Binomo is a safe and legit platform.
Many users rated Binomo highly. The reviews from different forums on the net such as Linkedin make it possible to understand how it works and whether it’s fraud.
Sachin Kaushik: “I can say that for me Binomo is really better than other platforms (vs IQ Option). I really like it.”
Becky John: “Investing is often risky. If you can minimize the risk you can take advantage of the market and expand your financial empowerment. Binomo has a great demo account.”
Nancy West: “I think this pandemic has taught people the importance of multiple streams of income, unfortunately having a job doesn't mean security, so I really appreciate the transparency of Binomo and giving people a fighting hand during this troubling time.”
Sign up and log in to Binomo
Sometimes the company may request to prove your personality and payment method. Vs. IQ Option, verification of Binomo accounts is mostly automatic and takes a few minutes.
Tutorial on how to trade on Binomo
Before investing real funds, you need to learn how to trade using the tools Binomo provides.
Explore the Help Center
You can find information on “What’s Binomo and how does it work?” in the Help Center. This section contains FAQs and can be called the analogue of Wikipedia. If you want to know how to close a Binomo account or what deposit options are available, you can also write to the chatbot or contact Support agents in live chat.
Learn from different strategies and alternate them to see what works better for you. After practice, you will be able to develop your own techniques. Remember that strategies, as such, are not winning and require careful market analysis.
Learn & train on a demo account
A benefit of Binomo is that you can learn all about trading by using the free demo account. It opens after the first login and lets you implement your strategy without inputting real funds into it. You can trade like you are in an actual market using virtual funds. This way you understand how Binomo works without losing any capital.
Participate in tournaments
You can also test your skills by participating in tournaments. Binomo hosts competitions for traders with any skills. The “Daily Free” tournament is available to everyone, including demo account holders. There are also paid competitions for real accounts.
Deposit & Bonuses
You can replenish your Binomo account using popular payment methods like JazzCash, EasyPaisa, CashMaal, Skrill, etc. (Paypal isn’t available). The minimum deposit amount for traders from Pakistan is only 10$.
The platform offers many bonuses, some of which can increase this amount. The “First deposit bonus” of 25% is intended for everyone who has not yet replenished the account. The size of the bonus for subsequent replenishment depends on the type of account and can range from 100 to 200%.
You can participate in promotional campaigns to get coupons or codes. VIP clients can also be presented with no-deposit bonuses by personal managers.
Note! The terms and conditions of use are described in detail in the Client Agreement. If you have any problems with applying for the bonus, feel free to contact Binomo support.
Trading on a real account
After making a deposit, you will be able to trade on a real account. Using Fixed Time Trades (FTT), you can get additional income on the smallest price change:
- Choose an asset.
- Enter the amount to invest (from 1$).
- Select the time of the end of the trade (from 1 to 60 mins)
- Make a forecast if the price will go UP or DOWN.
You will get additional income if the forecast is correct.
How to withdraw money from Binomo?
The minimum withdrawal is 10$. Binomo has a maximum limit of up to 3.000$ per day, up to 10.000$ per week, and up to 40.000$ per month. Limits can also be set by your payment system.
You can withdraw only using one of the methods that you used for deposits. Withdrawals from Binomo on the average take from several mins to 3 days after your request. The final period depends on the provider. You can check the status of the payment in the “Transaction history” section, but the final proof will be the crediting of funds to you.
How to download the Binomo app?
You can trade from the webpage on your PC, or log in to the Binomo mobile app. It’s available for Android and iOS and can be downloaded for free from Google Play or App Store. It also supports various languages including English.
In case of technical problems, you don't have to hack the trading app. Just install the APK version from the Binomo website.
Note! The Binomo app is available only for mobile phones and tablets. It cannot be opened from your PC desktop as Windows and Mac software don’t support it.
So, is Binomo suitable for trading?
We hope that now you have an answer to the question: does Binomo work for real, or is this a fake company. The platform has free educational materials and training tools, fast registration, and verification.
Remember that your results depend only on you. The platform doesn’t provide signals or tips, which means it cannot be held responsible for your results. Only knowledge and practice can help reduce financial risks.