You have most likely come across Binomo in South Africa. This article will review a website and an app replying to the question: How does Binomo work? to help you make a wise decision regarding whether to proceed. You can use this guide to get started.
Some beginners may ask “How to play Binomo?”, but it’s not correct because this platform is not a game. It is a trading platform that allows people to trade in such a way that the traders have an opportunity to get a return on changes in the exchange rate of currencies and other assets. The platform is known for having a high level of quality service, and traders have the opportunity to get extra income on it. It is available in more than 130 countries.
Besides that, it also offers its users support in various ways. If traders need help, they can use the Binomo Help Center, chat feature or email the company. It also offers analytical tools and useful tutorials to lend a helping hand to traders – this is why the platform gained many positive reviews for its service. Binomo is a client-oriented company committed to changing how people and trade for the better.
Is Binomo a scam or legit in South Africa?
If you have doubts regarding whether Binomo is legit in South Africa or not, then the answer is a resounding yes. The certificate by the International Financial Commission is proof that Binomo in South Africa is safe and legal. It shows how reliable the company is; hence okay for traders to trust it.
With the Binomo platform, clients can invest and trade with confidence, as the platform offers great trading experience while being transparent in every way. The certificate also signifies that it offers top-notch services. Finally, it is also an affirmation of how committed Binomo is to upholding integrity throughout.
In addition to that, it passed the Verify My Trade (VMT) audit with flying colours. With such approval, one can rest assured that Binomo is a real and legit company, and not a scam or fake.Reviews
Binomo broker received many reviews on the trading scope for its long tenure. There is no doubt that every trader has their own experiences and you can check what people think on trusted forums like Quora.
Here are reviews, provided by traders who have used the platform. Kanchan:
“Awesome platform for trading, it has a fast withdrawal system, easy to use platform with many indicators and good charting system. It also has a tournament section – which is very rare on such platforms. Free tournaments are also available for beginners daily and for everyone.”Onuh:
“Well, for me, Binomo is simply the best broker. My experience with Binomo has been great since signing up on the platform. Customer support services is just excellent, when I contact them on any issues on my account and trading, solutions are given and resolved immediately.”Michel:
“I’ve been trading for just over a month, and I am okay using it as an additional source of income. But, at first, it was hard for me to sort out the website. You need to get used to the platform. I earned a little while I was getting used to the platform. But, in general, it is quite good.”
Sign in and login
If you want to join such traders who are already using the site and if you still have a question: How does it really work?, you have to sign in first. Choose English or any other language available on the Binomo website and login:
- Open http://www.binomo.com and click the yellow Sign In button on the top right corner.
- If you don’t have an account, select the Sign Up tab.
- Then, enter your email and a strong password.
- Furthermore, select the currency, noting that you cannot change it once you have chosen it.
- Click the Create Account button.
- Confirm your email, and your account will be created.
Once you have a Binomo account, tap the Login tab, enter your registered email address and password.
Tutorials on how to trade on Binomo
Setting up an account is the first step towards trading with Binomo. As you begin, keep these things in mind. Demo account
It would be unwise to use any trading platform without the know-how of how the platform works. Binomo offers its users the option to get a free demo account after login to gain a real-time trading experience. Use it until you are conversant with trading to avoid avoidable loss of your investment.Help Center
If you have any problems or don’t fully understand how to use the platform, you can explore the Binomo Help Center. There you can find lots of information and tips regarding what trading is all about. It covers frequently asked questions (FAQs) about the platform like: How to close an account? and their respective answers.
If you need to contact the support service on Binomo, you can reach managers at moc.omonib@troppus
or via live chat.Strategies
Binomo.com has various trading strategies depending on your level of experience. Only practise and education can help you to make forecasts based on analysis and analytics. On the platform you can find such strategies described:
- Trading on the news: turning information into profit.
- Technical indicators.
- Night channel.
- How to trade without losses? Seven golden rules.
- Bollinger breakdown.
For the experienced:
- Puria method indicative strategy.
- Pathfinder: version to trade in flat.
- Market convergence/divergence with the RSI: let's determine the beginning of correction and earn.
- Trading on Fibonacci levels.
You can’t expect a 100% guaranteed income when using these strategies and there are no ‘winning strategies’ because the result depends on your experience, knowledge and current circumstances.Tournament
Binomo has two types of tournaments – free and paid. For traders on Demo accounts, there is one ‘daily free’ tournament available. It is possible to get a prize if you participate in any of the contests. However, all free and paid tournaments have different prizes. To access them, always look for a trophy icon, usually on the left side of the trading chart.
How to invest in Binomo?
As mentioned earlier, the Binomo platform is very good for trading. However, just like any other venture, you must surrender your funds to get started and you need to know how to do it. There are various payment methods allowing you to make investments on the platform. If you live in South Africa, you can make that payment in a variety of ways.
Deposit options include Perfect Money, Skrill, Advcash, MasterCard, Visa and bank transfers. Traders can easily make deposits on the platform using these payment methods. Once you have funds in your account, then it is possible to start trading. Note! Remember, that the minimum deposit is $10.
According to terms and conditions Binomo offers its traders bonuses that are available also on a free demo account.
- First, there is a 25% welcome bonus.
- Moreover, users can get a bonus by depositing funds into their account.
- You can also get a no-deposit bonus using coupons from promotions or from a personal manager if you're a VIP member.
Withdrawals and Limits
After trading, you are entitled to withdraw your trade profits from Binomo.com. Before learning how to withdraw money, it is important to remember that traders can profit only if they make the right prediction. Users cannot use a payment method to withdraw unless they have used it to deposit funds before. How fast it takes to withdraw funds from binomo depends on the payment method and your account type.
Therefore, some take minutes, whereas others can take up to three days and more time. In addition, there is no commission when withdrawing funds from the platform. For example, IQ Option vs Binomo charges a commission of $31 for wire transfer.
The minimum sum of withdrawal is $10. Regardless of the withdrawal method, there is a limit of how much money you can withdraw within a certain period.
According to the policy and conditions of the platform, in a day, it can’t be more than $3,000. Weekly and monthly Binomo withdrawal limits are $10,000 and $40,000, respectively. Those of you concerned about withdrawing their earnings can check online reviews with proofs available on different legitimate platforms such as Quora, YouTube, etc.
Download the Binomo app
Binomo trading app is available on AppStore and Google Play. Depending on the operating system of your mobile phone, visit the relevant application store, search the app, download and then login.For iOS and Android
Unlike iOS users, Android users have another way of downloading the application. This option is available to those who are having trouble downloading the app from Google Play. You don’t need to find a hacked version of Binomo. There is an APK version they can use available on Binomo: https://binomo.com/en/promo/android
As for PC users, there is no Binomo application to download. On the contrary, they use the desktop version of the trading platform available on its official website www.binomo.com
, so you can login on that page.
Besides trading on Binomo, thanks to the BinPartner affiliate program traders can get an opportunity to get extra income. All they have to do is refer traders to join the platform. Once they join, the referees can earn a profit depending on the trading activity of those traders. To join, go to the official website or email the team via moc.rentrapnib@omorp
Binomo is indeed a genuine trading platform. Based on the guide, it is also easy to use and navigate. The Binomo demo account, strategies and tournaments help people practice until they master the art of trading. However, just like any other venture, you can register loss or profit. Therefore, always trade wisely and strategically or else you lose your funds.