Since trading online has been making its biggest impacts on the rapidly growing fields, the number of trading platforms has also reached an enormous number throughout the globe, including South Africa.
We are aware of how complicated it can be to find the one for your criteria, however, Binomo investment and trade platform has gained a reputation as a reliable partner for its secure services and capabilities.
Binomo investment - what is it?
Binomo.com is a client oriented trade platform with a great number of advantages. It was formed by Dolphin Corp in 2014 and enables its users to get extra income online through opportunities on the exchange rate of currencies' changes and other assets. Offering this service with a user-friendly interface through a secure service is what makes Binomo a reliable partner. But before you can trade, you need to know the specifics of the trading platform.
Sign in and Login
Like many, after reading a Binomo review, one would proceed to go for it and have an account for himself/herself. It is actually a really practical process; similar to any website you have registered before.
- After you go into the website of the platform, there is a yellow “Sign In” button you should see. Click it and use a Google account that belongs to you to register.
- Also, just a basic email account is enough for this step. After this one, setting a secure password will get you to a step in which you will choose the currency you prefer (remember that the account currency cannot be changed after registration).
- When you choose it, reading and accepting terms the Client Agreement will be your last step. Your account will be all yours to use after you activate it through the link Binomo sent.
There are 4 different types of accounts that Binomo offers to its users to choose between, according to their preferences. And the first one is the Demo account. It is designed with the aim of educating the starters of trade; Binomo funds these Demo accounts with virtual $1000. Thanks to this virtual currency, novice traders can understand what trading is and how the Binomo platform works.
The other type of account that Binomo gives its service through is the Standard account. It stands as an entrance account after a deposit of $10 and comes with 40+ assets to trade. Besides these, participation in paid and free tournaments is possible with this type, and profitability on trade can reach up to 85% in case of correct forecast.
There is a Gold account also. This one comes with 50+ assets to trade, but it is not the only advantage. Trade insurance, up to 5% cashback for unproductive weeks, profitability up to 90% in case of correct forecast and a personal manager are the traits of the Gold account, and once you made a cumulative deposit of $500, all of these opportunities will be in your service.
The last account type is the VIP account. This time you have 60+ assets to trade, up to 10% cashback for those unproductive weeks, insurance, profitability up to 90% in case of correct forecast, a personal manager, access to VIP Binomo tournaments, and risk-free trade are the opportunities you will have after a cumulative deposit of $1000.
With these being said, choosing one according to your needs is all up to your goals, as you can tell.
Is Binomo legal in South Africa?
When reviewing an online trading platform, questioning its security is an inevitable first question of course. No matter how fair the question of “Is it a scam?”, Binomo stands as a reliable company to answer that question justly.
The safe service of Binomo was assured by different types of aspects. It serves traders from South Africa in legal ways, and The Financial Commission testifies this statement. It is a commission which helps clients in case of problems with the trading platform, and Binomo was certified by them, thanks to its security.
Another certificate that Binomo was certified with is from Verify My Trade, and this also states the platform’s credibility.
Besides these, in 2015, the platform was awarded the FE Award. And, the next year IAIR award was given to Binomo also, which was scripted as “a global prize for excellences in global finance and global economy”.
With all these assurances Binomo online investment platform stands as a secure service holder.
How to use Binomo?
As mentioned, a user-friendly interface makes it so practical to trade and invest on Binomo.
After you follow the steps of registration as explained earlier in the article, you will be able to log in to your account through a computer, or after downloading the app via a phone or a tablet.
And now, let us explain how to trade on Binomo:
● Select an asset (for example, a currency pair)
● Set trading time
● Predict if the asset price will UP or DOWN
● Wait for the end of the trade.
With the correct forecast, the profitability of the trade can be up to 90% (depending on the type of your account). It will go to your account. But in order to forecast correctly, you need to apply the strategies and your trading knowledge. We'll talk about them below.
On the platform’s website binomo.com, there is a section named “Strategies” which includes methods that conclude verified trades for Binomo users. And don’t take them as methods only for the starters; these are also suitable for the experienced traders while trading on any asset. None of the trading strategies can guarantee prosperous trading, they should only be used when analyzing the market.
Another way to get additional income that the users are able to experience is the tournaments. Works as a great opportunity to improve the skills of trading. You can participate in both paid or free tournaments, these are the two types of it, and both options offer unique prize funds.
Demo account holders can only participate in the free tournament. Registration in a paid tournament is only possible for a certain fee. You can find out more about tournaments on the Binomo official website in the section of the same name.
Every new user of Binomo gets a welcome bonus once their account has been funded with the first deposit, and it starts from 25%. Through this, the increase in your balance becomes an advantage, obviously.
At the next deposit, bonuses are also credited depending on the account status:
● Standard - up to 100%
● Gold - up to 150%
● VIP - up to 200%
It is also possible to receive bonuses as part of the company's promotion. The bonuses will be in your balance after you enter the bonus coupon code which you will get by promotion.
Withdrawal and Limit
Withdrawing your earned funds from Binomo is toilless. A bank card or an e-wallet,would work as your go-between for that. It is through the button of "Withdraw Funds" that you can find after clicking the “Balance” button on the app or “Cashier” button on the website. Just remember that it is obligatory to use the same method that you have made your deposit with, for safety causes.
When it comes to the limit, there is a minimum amount of withdrawal as $10 or the equivalent of this amount in the local currency. There are also daily, weekly and monthly withdrawal limits. These are $3000, $10.000 and $ 40.000, respectively.
Download Binomo App
Downloading the Binomo app is almost the same as any other app. If you are using an Android device, Google Play is where you can download it. For the ones who use an iOS device, Binomo App is in the App Store. In case of any problems while installing the app on the Android device, there is also an Apk that Binomo has: https://binomo.com/en/promo/android.
So, to sum all these up, binomo.com stands as a trustworthy online trading and investment platform with a safe service in South Africa with all of its advantages from bonuses to a user-friendly interface, and so on. Of course, when it comes to online trading, it would not be wise to ignore the risks that the field involves; such as losing the deposit partly, or totally. However, for the traders who would accept these risks, Binomo offers its service through convenience. Why not give it a try?