1. General information

The platform may be very popular, but beginners that are new to trading will inevitably come up with a number of questions. Choosing the right platform to trade on is pivotal in any beginners success. This article offers an unbiased overview of services offered, assesses their quality, and hands down a final verdict of whether you are advised to trade with Binomo or not.

  • Company. It was established in 2014, is officially certified, holds Forex Festival awards, and enjoys immense popularity virtually anywhere in the world.
  • Funding and financial matters. A demo account for all registered users. Minimum withdrawal and funding — $10. Three account levels. Withdrawals take 1 to 72 hours (depending on user status).
  • Trading conditions. High/Low contracts with a return of up to 87%. By way of experiment — CFD trades with a floating profit. 45 assets to trade. Contract expiration of 1 to 60 minutes.
  • Other. Tournaments with a prize fund of $75,000+. Personal support and training for premium users. Video tutorials, glossary of terms, FAQ. A unique asset for effective short-term trading.

This is a brief description in a bulleted list. All these headings will be detailed in respective sections of our overview.

2. Advantages and disadvantages

Minimum starting requirements: You can have a real account opened by funding $10 or more. This opens access to all the features of the platform, including participation in traders tournaments.

Unlimited and limit-free demo account: The practice mode is an attractive option not only for beginners but also for seasoned traders. The former will be able to learn to trade and the latter to test high-risk strategies.

Unlimited and limit-free demo account: The practice mode is an attractive option not only for beginners but also for seasoned traders. The former will be able to learn to trade and the latter to test high-risk strategies.

Trading terminal with multiple features: The platform enables you not only to trade fixed High/Low contracts but also to perform technical analysis. It offers hundreds of various market forecasting strategies.

Companys withdrawal policy: Withdrawals are a matter that users have almost never complained about in their feedback about Binomo. Financial transactions are always carried out within respective time limits. The platform supports a wide range of payment systems available in the traders country of residence.

Traders tournaments: This is Binomos unique competitive advantage. The companys rivals either do not bother themselves with contests or hold them occasionally as part of special offers. Binomo treats contests as a priority. The company holds a daily free tournament with a fund of $300–600 and paid tournaments with a fund of $1,500 to $75,000 and more.

Beginner-friendly: Focus on working with beginners is especially obvious in the first years of the platforms operation. Now the company has expanded its target audience but is still widely recognised as one of the best platforms for beginner training.

24/7 trading: The selection of assets includes, to start with, cryptocurrencies, such as the unique cryptoindex (CRYPTO IDX), and, secondly, over-the-counter (OTC) currency pairs.

No access for traders from the USA and a few EU countries: Clause 10.2 of the Client Agreement reads that the nationals of the listed countries may not sign up on the platform. Still, Binomo is an international company operating in dozens of countries worldwide, including Asia, South America, Oceania, CIS and other regions.

3. Trading terminal

In 2014, Binomo reached the market with a terminal by SpotOption. This is a popular universal platform used by many companies. However, it has very limited features. 9 months later, the company released its proprietary terminal. It started off the companys history of success in the international market of online trading. Since 2015 the platform has been regularly updated to add new features and address existing bugs.

Binomos modern terminal is a fully functional trading platform that you can use to trade High/Low contracts and perform technical analysis on second and minute timeframes at a time.

Special features of the web terminal:

  • up to 45 assets to trade, including round-the-clock;
  • independent tabs with charts;
  • 20 graphical tools for chart analysis;
  • one-click trading without confirmation;
  • keyboard controls;
  • 14 technical analysis indicators;
  • an integrated Economic Calendar;
    timeframes of 5 seconds to 1 month;
  • a scalable 4-mode chart;
  • no-slippage and high-speed functioning.

A smartphone-friendly version is offered as a mobile application. We will look at it in more detail in a later section of this overview.

4. Cryptocurrency trading

Traders take special interest in cryptocurrencies because you can profit as they go either up or down. This is the key difference of trading on an exchange from direct investments in assets, where gains are only produced by positive economic tendencies. The main thing a trader needs to know is where the price is going on the chart (up or down). If the forecast is right, the profit of the size known in advance is credited in full to your account. It is an average of 75% to 85% of your investment.

With only three to choose from — Bitcoin, Litecoin, and CRYPTO IDX, cryptocurrency assets that Binomo has to offer are far from being numerous. Its IDX that is worth special attention. One cryptoindex outperforms any other cryptocurrency in terms of potential. This asset is a unique product developed by Binomo for effective short-term round-the-clock trading.

CRYPTO IDX is the arithmetic mean of BTC, LTC, ETH, and ZCH prices. This is why its quotes are updated 4 times more often on the chart than regular assets. This affects the appearance of price indications. The price is structured adequately even on the one-second timeframe, with complete candlesticks that have a body and two shadows. Regular assets, on the contrary, cannot produce an adequate chart suitable for effective technical analysis on a 5- and 15-second timeframe.

5. Mobile trading

You can trade not only on personal computers but also on mobile devices like tablets and smartphones. The classical web-based version is relatively comfortable for use on a device with a large enough display. But this is inconvenient on regular smartphones. This is why youre advised to use a special adapted version.

You can find Binomos authentic mobile apps on App Store and Google Play. The phone terminals features are comparable to those of the desktop version with a few differences. Many technical analysis indicators and tools are unavailable. But this wont stop you from opening an important trade at the right time. This becomes especially important as you trade the news, for example, when you need to buy contracts at a specific time.

6. Account types and practice trading

Once signed up, every user gets a demo account. It enables them to start trading right away, but with virtual funds that they cannot withdraw. Binomo offers 4 account levels — 1 free and 3 funded accounts.

DEMO. Requires sign-up. 18 basic assets with a return of up to 85%. Standard features of all other platform tools for technical analysis.

STANDARD. Offered for accounts funded with $10 or more. This is a basic level from which you get access to all the features of the platform. You can joint tournaments, trade in the real market, and make withdrawals.

GOLD. Minimum deposit of $500. An optimal choice for beginners with a wider choice of assets (38). Withdrawals become faster (24 hours), a personal manager and exclusive trading strategies are made available.

VIP. This status is granted when you fund $1,000+. The user gets maximum privileges and a personalised service.

A detailed comparative table with differences is provided on the Cashier page of the trading platforms official website. Wed like to note in conclusion that your deposits are added up after sign-up. This means that you dont need to make one payment of $1,000 to get the VIP status — you can deposit it in installments with any time interval in between.

7. Whats the point of getting the VIP status?

The key advantage of the premium status on Binomo is a personalised service that includes a tailor-made training programme for beginners. This is a fast track to excellence for those who have difficulty learning individually. The VIP status has advantages for active traders with some experience.

8. Creating an account

An account on the Binomo trading platform takes 1 minute to create. The standard sign-up procedure requires an email and password. You can populate your personal data from a Google or Facebook profile by clicking the respective button. Please choose your currency with special care because you cannot change this decision even through Customer Support. The dollar is the foolproof choice regardless of your country of residence.

Please make sure you provide your true details. Otherwise, you may run into problems withdrawing large amounts. Financial laws require identification of all users with a turnover in excess of a certain amount. Identity verification is not a problem if your profile contains your actual full name. All details are subject to strict data protection rules and are transmitted to the server in an encrypted form.

9. Funding and withdrawals

VISA and MasterCard bank cards are the most popular ways of funding accounts. Other methods are also available, including international and local systems supported in a specific country. The list of supported systems depends on the country of residence indicated in your profile.

International payment systems are supported worldwide. An optimal choice for users is to fund with their bank card that will be automatically linked to the account for future withdrawals. Profits can only be withdrawn to the wallet that was used to fund the account. Please take this into account when choosing the funding option.

A bonus of 30% to 80% or even 100% (during special promotions) is added to your account depending on the amount of your own funds. The system recommends an account of $500 to beginners as an optimal choice. $750, including the bonus, will be credited to the account. This will enable you to trade by using 0.2% of your balance per trade, minimising your financial risks in terms of capital management.

10. Trader training

A beginner trader has no skills of independent market analysis and effective trading. His or her only goal is to master this skill. Favourable conditions for this need to be created on the trading platform. Binomo found a great solution to this problem.

Learning opportunities offered to users.

  • Self-directed learning. Trading on a demo account in reliance on ready strategies offered on the trading platform itself (in Information or the terminals side panel) or other online sources.
  • Mentored learning. Access to support by a personal mentor is granted to premium users (GOLD and VIP). The manager uses Skype to contact the trader and then devises a tailor-made training program.

Initially, beginners are advised to trade either on a demo account or join a custom training program from early on. They should follow the rules of the selected strategy of market analysis and money management.

11. Should I trade with Binomo?

Our verdict is yes, sure. The trading platform by Binomo is clearly worth a thorough look at, especially by beginning traders. Entering the market as a humble novice with a standard terminal, the company reached the level of the then online trading leaders in just a year.

Minimum starting requirements, fast withdrawals, an unlimited demo account, self-directed and custom mentored learning, high returns produced by assets, round-the-clock access to the platform and more. All these advantages take Binomo to the league of international leaders in High/Low contract trading.

Write us

Find us at the office

Blotner- Kwas street no. 55, 39246 Canberra, Australia

Give us a ring

Dymon Rothfuss
+78 715 483 676
Mon - Fri, 10:00-22:00

Write us