From a quick glance, they appear to have an emphasis on the technology side of trading. The company is a trading platform that allows users to benefit from up and down moves in the underlying asset. Binomo’s website states they are, “…a trading platform on which you can ear on rises or falls in currency exchange rates and prices for shares or commodities”.
They aim to attract all levels of traders by allowing for smooth trading tool utilization. Given the various trading platforms out there that use binary options or binary style products, it is critical that the process is easy and approachable. With the clean website appearance, the first glance appears to be a pleasant one.
Reasons to Sign Up at Binomo
We could compile the following reasons to sign up at Binomo:
- Sophisticated online trading platform offering a wide variety of financial assets
- Analytical services
- Ideal for new as well as seasoned traders
- High-quality online trading tutorials
- Excellent customer support
- Quotes from top agencies
- SSL secured online broker
How Does Binomo Work?
How Binomo appears to work is when you land on the homepage of the website is you can sign up right away on the upper right-hand corner. From there, they give you the ability to test a trade out and explain a few other options on their website. The ways you can trade include an “up” trade or a “down” trade. As you might expect, if you believe the market is going up, you would choose an up trade and if the market is going down you would choose a down trade.
Is Binomo a Reliable Service?
As with any platform or financial institution, the first question you should be asking is the service reliable. Binary options have gained a reputation of being misleading so next we’ll dive into Binomo’s appearance as it pertains to reliability.
At first glance, their website gives off a professional appearance and instills confidence. There are some out there that are lacking in professionalism and that can be a deterrent right out of the gate. From there, we’ll want to look at what regulations govern the company and if they are officially regulated by any independent agency.
According to their regulations page, they are a member of the Financial Commission, which is “…a neutral and independent dispute resolution organization that specializes in financial markets”. Since May of 2018, the company has been an “A” category member of the Financial Commission. Essentially this means that Binomo is attempting to be transparent in their operations and provide confidence in their platform.
Diving into a little more detail on the Financial Commission and how it benefits traders is first protection up to $20,000 per claim. Secondly, should the need to file a claim arise, you have access to a neutral and impartial party. Lastly, your claim will be resolved with speed.
Terms and ConditionsWithdrawal
- Direct Bank withdrawal ( takes 14 days)
- Globe Pay (fast method within2 minutes)
- Perfect Money ( instant )
- Indi Cash ( week)
Terms and Conditions
Binomo has what they call a client agreement, which essentially are the standards you will be held to should you choose to utilize the Binomo platform. Reading through the terms and conditions is important because should an issue or question arise, odds are it is addressed in this document.
The first line of the client agreement states that the company is incorporated under Saint Vincent and the Grenadines law. These are the laws that the company will operate under unless the move where they are headquartered.
Other items this include are how disputes are handled, as well as other items relating to trading and risks. Regardless if you use Binomo or another platform, be sure to read the legal information to ensure you are properly informed and not blindsided by something.