There is a huge variety of options when it comes to finding a good broker these days. Then, there are also some scams. This post will help you know about all the facts and conditions relating to Binomo for trading binary options. Find out if it is a good broker or not.
Nowadays it is hard to find a good broker because diversity is quite large and there are some scams outside. In this review, I will show you the facts and conditions of Binomo for traders. Is it worth to invest real money or not? – Find it out in this article.
What is Binomo?
Binomo is an international broker that offers Binary Options. It was based in the Seychelles and was founded in 2014. Tiburoan Corporation Limited runs the website and there are different branches throughout the world.
The IFC (International Financial Commission) regulates the broker and the CROFR has certified it. Overall, Binomo Broker allows you to bet on falling and rising markets with the Binary Options in order to make a high profit in a short period of time. More than 200 different asset options to invest in are offered by them. Ever since the launch of the company, the customer base has quickly increased continuously. The best thing about Binomo is that it is committed to improving its services for the traders.
- No hidden fees
- High asset profit
- Begin with a small deposit
- Various branches worldwide
What is a Binary Option?
Before moving on to Binomo, it is important to know more about what a binary option is. It is a financial product which the buyer receives as a payout or loses from the investment made depending on whether the option expires in the money or not. A proposition of a “Yes or No” outcome is what the binary options are based on. Hence, the name binary has been given to them.
Binary options have an expiry time or date. In order for the trader to make a profit, the price of the underlying asset must be on the right side of the deal at the time of expiry. Binary options are automatically debited or credit to the trader’s account depending on whether there is a gain or loss when the option expires.
Basics of a Binary Option
The thing about a binary option is that it can be as simple as if the share price of XYZ would be above $30 on May 11, 2019, at 11.30 p.m. Based on this knowledge, the trader has to make a decision of either a yes (that it would be higher) or no (that it would be lower).
For example, the trader believes that the price would be above $30, at that time and date, and is willing to bet $200 on it. If XYZ shares do in fact rise above $30 on that time and date, then the trader would receive a payout based on the terms agreed. If the payment had been 60%, then $120 would be credited by the binary broker to the trader’s account. However, if the price trades below $30, at that time and date, the trader would end up losing their $200 investment in the trade.
- Binary options do not offer traders to be able to take a position in the underlying security.
- A fixed payout and loss amount is set by binary options.
- A payout is received by traders if the binary option expires in the money and a loss would be incurred if it expires out of the money.
- The outcome of the binary option would be a “yes” or “no”.
Occasionally, the binary options are traded on platforms that are regulated by the SEC (Securities and Exchange Commission) and some other regulatory agencies. However, most of the binary options occur outside of the U.S. and might not be regulated. It is due to these unregulated binary option brokers which do not follow a set standard that there is potential for fraud.
Binomo provides traders the opportunity to invest in rising or falling markets with the Binary Options. It is just like how one would bet on a specified time horizon. Anyone can trade Cryptocurrencies, Commodities, Stock and Forex on the platform. The best thing about the broker is that it offers services 24/7 everyday. One can even trade on the weekend with a high investment return.
Traders have the option to trade short-term or long-term. The asset profit is as high as 87 percent for the Binary Options. There are different types of expiry times. A VIP-status can be achieved if you add more than $1,000 to the account with a higher asset return. The best thing about Binomo Broker is that there are no hidden fees. There is no commission charged for deposit or withdrawal of funds.
Beginners can begin with a minimum of just $10 deposit. It is a very small amount of money which is why Binomo has become a highly popular option for traders. Furthermore, the minimum investment amount for trading is just $1. Anyone can trade an asset with just $1 and without any fees. Therefore, the conditions offered are some of the best that can be found in the world as compared to other brokers.
How does Binomo Work?
Being a simple financial product, one can easily bet on rising and falling markets at the specified time horizon. Simply choose the expiry time for the trade and whether it is to be long-term or short-term. After the expiry of the time, the trade would automatically close and one would either get a payout or lose the amount invested. You can predict the direction of price of an asset and trade in the direct that you think would be right. The only thing about the asset is that it should either move up or down of the entry point in order to make a fixed profit which depends on the asset traded.
There is the only risk of the invested amount which makes it limited. One would only lose the investment amount or end up winning a fixed profit. This is something very important as most financial products do not offer limited risk.
There are 6 steps which you need to follow when trading binary options on Binomo Broker. These are listed as follows.
- Choose the type of asset and analyze it.
- A forecast of the future price movement should be made.
- An expiry time needs to be selected.
- Invest as much as you want, starting from just $1.
- Click on Put (Short) or Call (Long) to open the trade.
- Earn big with the right forecast.
Every successful trader knows that losses can be an emotional experience. However, it is important for one to use sensible money management techniques. Remember, if one loses a huge sum of money, they would be more likely to trade irrationally and lose even more money in the future. Therefore, always make sensible money management decisions.
Just like any other financial product, Binary Options are also risky. If you cannot afford to lose, then you should probably not invest the money. There is no guarantee of profits. But, there would a higher chance of a profit if you have the right knowledge.
Try Mobile Trading With Any Device
A great thing about Binomo is that it offers mobile trading options as well for every single client. Download the app for tablets and smartphones to trade. It is available for both apple and android devices.
Mobile trading has become a huge market. Always stay connected to the market news and invest, even when on the road. You could earn huge sums of money with just your smartphone. The apps works effortless on the smartphone, just like the web version. Expect the execution of trades to be very quick and use the same options as the ones found in the web version.
Open a Free Demo Account Today
Trade with virtual money using the demo account, there are various advantages of using it. Beginners can use it to practice before investing their hard earned money. Furthermore, the advanced traders would be able to use the account to improve their strategies and learn to trade in new assets. Trade without risk using the demo account as it is the perfect option for obtaining more knowledge of how to use the trading platform. Switch from the demo account to the real account in just a few seconds with Binomo. It truly is one of the best brokers out there.
Open a Real Account
Easily switch to the real account with a click as the demo account is linked to it. One needs to fill the account form to trade with real money. Additional documents along with personal information would be required by the broker. The account needs to be verified for profit withdrawal. It takes less than 24 hours for the verification. Simply upload your passport photo and have the account verified, and use all of the functions that the real Binomo account has to offer.
The sign up only takes a few seconds which is why it is very easy to open an account with Binomo. Either use the dollar or euro currency to open the account. The best thing is that there are no hidden charges and it is entirely free.
The minimum deposit is just $10. Different payment methods can be used to capitalize your account such as Cryptocurrencies, E-Wallets or Credit cards for the deposit. It is the same for withdrawal as well. Both withdrawal and deposits are super fast. Withdraw the profit that you make directly when using the platform. There are no commissions that would be charged for the transaction.
Different Account Types
At present, Binomo offers its clients with 4 different types of accounts. The deposit amount influences the status of the account. This is one of the greatest features of the Binomo platform. With a higher deposit, clients get to use a higher account type and use the special features and make more profits.
One of the most basic accounts which traders can use is the standard account. All one has to do to use the standard account is deposit an amount of $10 and use the full functions of the Binomo trading platform.
- Technical Support
- Withdrawals in less than 3 days
- No limits to it
- Get to participate in contests and tournaments
- The minimum investment amount is just $1
- Earn a fixed profit of 85%
There are more special privileges and special events for the gold account that help increase the profit that a trader makes.
- Earn a fixed profit of 86%
- More assets to choose from (over 100)
- A higher bonus can be made.
- Weekly cash backs of 5%
- New strategies to choose from
- Receive education from traders that are experts
- Personal account manager
Finally, the VIP account is the best and it offers you some of the ideal trading conditions
- Weekly cash back of 10%
- VIP education and support
- More assets are available
- Withdrawals can be made in less than hours
- A higher asset profit of 87%
- Make bonuses of up to 10%
The trade execution offered by Binomo is one of the fastest which one could possibly find. There are no connection problems or any lags. The platform is very flexible and works smoothly. In addition to the above, one can even customize the chart as they wish. The platform is clearly structured and one can use the hotkeys for trading. There are different options of the broker that can be accessed. Learn new strategies by looking at your trading history. The trading platform can be used by beginners as it is easy to use and advanced traders too. If you want to learn more then I found this honest Binomo Review. Read more about it.