Binomo is an innovative trading platform that enables people to earn money online. Anyone familiar with trading knows the ever-so-common situation when trades just stop going right. It is nothing to worry about. The most important thing is that you handle your emotions properly and take control of the situation. We have prepared this article specifically to help you be able to trade long-term and protect your account from uncontrolled losses. Start trading on Binomo following our Recomm.
Established in 2014, Binomo is a binary options broker registered in Seychelles under the trading name of Tiburon Corporation Limited. They seem to offer everything that you would expect from a top-level firm. While still awaiting CySEC licensing, they do hold an FMRRC certificate making them a regulated broker.
In addition to low trade requirements, they offer many other features. Various timed welcome bonuses and a demo account with $1,000 are just two of the benefits so you can start trading. They also offer comprehensive customer support and excellent mobile trading experience for those who like to trade the markets on the move.
To find out more about this broker and whether they are the right choice for you, we have put together our comprehensive Binomo review. Our financial experts spend time analyzing every aspect of trading with this particular broker to ensure that your trading experience is a good one. Find out more about why we think Binomo is an excellent choice.
In this review, you will learn:
- What makes Binomo stand out from their competitors
- The different trade types, payouts, and assets available
- Why we think this broker is a good choice for traders
There are many account types available from Binomo, all of which require different deposit amounts and offer a range of benefits:
You can open a Standard account with just $10. This is a real account and you get all of the benefits of the Binomo trading platform which include:
A Gold account requires a minimum deposit of $500. In addition to the above, Gold account holders receive an extended range of assets to choose from, faster withdrawals (up to 24 hours), increased bonuses, advice and analytical support plus a weekly cashback amount of 5%.
For those who are more serious about trading, a VIP account requires a minimum deposit of $1,000. VIP accounts give you, the account holder all of the above benefits plus bonuses of up to 100%, fixed trade profits of up to 87%, withdrawals in less than 4 hours and a weekly cash-back of 10%. It also gives you access to all assets on the trading platform.
Despite the proprietary trading platform offering a VIP account, the deposit is still low in comparison to other brokers who require a much larger deposit on their top-end account. Low deposits further indicate that this broker is a fantastic choice for those that are new to trading.
The trade types available from Binomo are a lot less than you would receive from other brokers. They only offer High/Low Options and Turbo Trades. Expiry times for High/Low options are 15, 30 and 60 minutes. Another sign of a low entry-level focused on new or inexperienced traders is the inclusion of the simpler pair options.
They are also restrictive on the number of assets available with a maximum of 70 only being available to VIP account holders. Payouts range from between 70% – 87% which depends on the type of account that you have.
Deposits And Withdrawals
Standard account holders can open an account with a minimum deposit of just $10. For Gold and VIP holders this is more. It is easy to make a deposit using one of many accepted payment methods including personal credit cards like Visa and MasterCard. Once you have made a deposit, the funds are available immediately to trade on the market.
If you are making a withdrawal, you merely request the amount that you wish to withdraw. Ordinarily, there are no withdrawal fees however if you haven’t traded your deposit amount a required number of times, then you will be charged a 10% fee. The time it takes for the withdrawal to reach your account depends on the account status that you hold. For Standard Account holders, it is three working days. Withdrawals can be expedited to less than 4 hours if you have a VIP account.