Recently, in the online trading community, there is quite a lot of fraud rumor about the Binomo platform. For example, in about 30 minutes to 1 hour, you can earn up to $1000 with Binomo. However, this also raises several questions. What is Binomo? Is Binomo a scam or safe? Can you really make money there? In today’s article, we will review Binomo trading platform to answer your questions.
What is Binomo?
Binomo is an online trading platform in the financial field. It uses derivative tools on the market to make money.
It means that the investor will make a profit by predicting whether the trend of the exchange rate will be up or down over a certain period of time. If the prediction is correct, you will receive the corresponding interest. Conversely, if you make a false prediction, you will lose the capital spent on that transaction.
Founded in 2014, Binomo is managed and operated by Stagord Resources Ltd. Its registered address is in Nicosia, Republic of Cyprus, under the registration license No. HE338508. Meanwhile, the entire website of the company is under the management of Tiburon Corporation Limited, which based in the Republic of Seychelle.
The simplest way to trade in Binomo
1. Choose a pair of assets (for trading).
2. Choose the investment and set the timing for your transaction.
3. Choose “UP” or “DOWN”.
4. If the price goes according to your prediction, you will make a profit. Otherwise, you will lose your investment.
This is an extremely risky investment if the trader does not understand what it is. To win a trade, you must predict exactly 2 things. (1) whether the price will increase or decrease and (2) for how long. This is called a double prediction (double probability).
Is Binomo safe or a scam?
To answer Binomo scam or not, we use the analytics and rating website hypestat.com for checking.
Review the traffic in a day and the ranking of Binomo in the world
The especially important thing is the traffic of unique visitors filtered by IP address. Binomo is a web-trading site so the direct traffic will be huge.
According to hypestat.com, it has 412,799 unique visitors per day. Its rank is 7813 in the world.
Review Binomo ranking in the financial field
This is a more specific check of the credibility of a platform. According to similarweb.com, it is ranked 102nd in this category.
Besides, this statistics page also gives us another very positive indicator. That is the total traffic in the last 6 months was 4.5 million visits (including web and via mobile applications). If Binomo is a fraud platform, how come there are so many users and visits?
Certificate from the Financial Commission
Binomo is secured by the Financial Commission with a compensation of up to 20,000 EURO if you can prove that it is a fraud and no safe for users.
Checking the depositing and withdrawing
The Binomo fraud information mostly consists of withdrawing money from the platform after making a profit. You can fully verify directly through the services of the platform.
We have been trading in Binomo for a long time. And things such as the platform does not allow withdrawals or keeps your money, locks accounts, have never happened. If there are any, it may be some delay in money crediting due to the banking system or denied withdrawal orders due to account verification violations.
The most detailed review on Binomo trading platform
In this section, we will examine its strengths and limitations. I hope that it will be helpful for you in choosing a broker to trade.
The minimum for one depositing and withdrawing is 10$. This is an important strength of this platform compared to others. The minimum amount of $10 is reasonable for anyone to test the services of the broker on a real account.
Trade with a minimum capital of $1. Traders who are new can open orders with a minimum capital of $1. This helps you get used to the platform without being scared of losing too much capital.
It supports many types of accounts from Standard to VIP and also demo accounts. With the demo account, you can use it to familiarize yourself with the interface and trading style of the platform. For experienced traders, they can also use it to create and test their new strategies.
Quick depositing and withdrawing, supported via many popular payment methods. The priority of processing your withdrawal depends on the type of account. However, it will not exceed 3 working days.
Professional support, available 24/7. During trading as well as investing on the platform, if you encounter any problems, the “SUPPORT” will be the top priority for you to contact. You can contact the support in a variety of ways such as live chat, via email, or even call directly, etc.
The platform has a simple interface. Indicators, as well as graphical tools displayed on the price chart, are not professional.
The income rate varies a lot. This affects traders’ trading strategies.
After going through the article, you must have gotten yourself the answer. Is Binomo safe or a scam? Once again we would like to announce that this article is an objective review so that traders can understand what this platform really is.
The money is yours. Think carefully before investing in any channel. Binomo is no exception. As for us, too.