Review On How The Binomo Trading Platform Works In South Africa

Here is a detailed review in which you can figure out what Binomo is.

You will also find answers to the questions like “How does Binomo work?” or “Is it a scam or legit in South Africa?”.

Also, we learn how to invest, trade, withdraw funds and get bonuses on the platform.

Binomo trading platform in brief

Binomo is a safe online trading platform where traders can earn extra funds on shifts in the exchange rates of currencies and other assets. In addition, the platform is a category “A” member of the International Finance Commission and it has been awarded a quality certificate.

How to trade on Binomo?

Let’s figure out how Binomo really works. To start trading follow the steps below:

1. Go to www.binomo.com and login.
2. Choose an asset to trade.
3. Enter the number of funds you wish to trade.
4. Set the time that you wish the trade to run for on the Binomo trading platform.
5. Depending on your forecast whether the chart will go UP or DOWN, click on the green (up) or red button (down).

In case your forecast is correct, you get up to 90% profit on the trade (depending on your account status), but if not – you lose your funds.

Sign Up and Login

Sign up and sign in process is very fast on Binomo (choose English or any other language available on Binomo to login conveniently).

1. Open the login page on the Binomo web or app.
2. Type in your email address and a password.
3. Choose what currency you want to trade in. It cannot be changed after registration.
4. Read and accept the Client Agreement and Privacy Policy and click “Create account”.
5. Activate your account through a link which you get on your email.

Account types

After login to Binomo you get first a free Demo account and the other account types are:

• Standard: minimum deposit $10 
• Gold: accumulative deposit $500
• VIP: accumulative deposit $1000

Note! Besides trading there is an option to join the BinPartner affiliate program and get additional income. To do so, register in the affiliate program where you can earn profit by referring traders to the Binomo platform.

Tutorials

On binomo.com you will also find tutorials and tips that can help you get a detailed understanding of how to use the platform and learn how it works.

Help Center

If you have any questions regarding trading on the platform, just head to the Binomo Help Center section on the website. There are published answers to the FAQ, for example: “How to close a Binomo account?”. For further queries contact managers through email: support@bimono.com or via online chat.

Strategies

Strategies described on Binomo can be used to get trading experience. However, it is crucial to understand that no strategy guarantees a 100% result of trade. Beginners sometimes ask how to play on Binomo or about winning strategies. But this is wrong, they must be aware that Binomo is not a game but a trading platform where traders use skills and experience to analyze many factors before making a forecast.

Tournaments

Binomo also provides various tournaments.They can be paid or free and each prize pool is different. Tournaments can be found on the Binomo website or in the app by clicking the trophy icon. Please note, that users on a demo account don’t have access to Daily Free tournaments in the app.

Deposit and bonuses

Making investments on Binomo is very convenient as the company provides a transparent way to deposit funds. Just follow the steps mentioned below:

1. Go to the Binomo platform.
2. Login to your account.
3. Click the Deposit button.
4. Select payment method.
5. Select deposit amount. The minimum deposit on Binomo is $10.
6. Head to the payment page.

Binomo operates internationally and the deposit options vary from country to country. Traders from South Africa can deposit funds through the website and app using Mastercard, Visa, Advcash, Perfect money, Skrill, etc.

According to the terms and conditions of Binomo, traders can receive a bonus in three cases:

1. Upon the activation of a non-deposit bonus or when entering a promo code / using a coupon. No-deposit bonus is automatically activated on your account during promotions. 
2. All users can get welcome bonus 25%. 
3. The deposit bonus depends on your account status: Standard – up to 100%; Gold – up to 150%; VIP – up to 200%.

To withdraw bonuses you need to make a turnover – read about it in detail in the Client Agreement, part 8.

Withdrawal and limits

Here is the tutorial of how to withdraw money from Binomo:

1. Choose the Withdraw funds section.
2. Enter the amount you wish to withdraw.
3. Choose the withdrawal method that is displayed on Binomo.
4. Fill in the remaining required fields.

As per withdrawal terms and conditions on Binomo, one can withdraw funds only through one of the payment methods through which the deposit was made. You will find the withdrawal proof in the Cashier section.

Minimum withdrawal amount is $10. The withdrawal time can take from a few minutes up to 3 days or more depending on the account type and the chosen payment system. As per Binomo withdrawal policy, there is a limit:

• up to $3,000 per day;
• up to $10,000 per week;
• up to $40,000 per month. 

Binomo does not charge any withdrawal fee vs IQ Option where traders have to pay $31 for each bank transfer. For further assurance you can also find positive reviews on various forums about the convenient withdrawal process on Binomo.

How to download the Binomo app

The Binomo app can be downloaded from Google Play or App Store and there is also an APK version. There is no trading app available for download on desktop.

Note! If you’re having trouble installing the Binomo app on Android, there is no need to hack – download the APK file at the link and login: https://binomo.com/en/promo/android.

For PC

There is no Binomo app for PC or any software for computers. Instead, you can login to Binomo on PC through the website or download the app on smartphones or tablets.

Is Binomo a scam or not?

Trading on Binomo platform is real and not a scam as this is a certified and reliable trading platform – this means that investment in Binomo is legit and you can legally use it in South Africa. Traders can find positive reviews about the Binomo broker on forums or such trusted platforms as Quora.

Reviews 

Below are a few reviews to trading on binomo.com:

Mohsin R.: “Overall, Binomo is a smooth and trustworthy platform”.

Rohit R.: “Binomo is a satisfactory application and personally I have never experienced any inconvenience while trading on Binomo”.

Nitish V.: “Binomo is the perfect application for traders willing to start trading online”.

Conclusion

The Binomo platform offers remarkable customer service and features such as participation in tournaments, various indicators, a Demo account and tutorials. Traders can use Binomo on the website or app learning trading strategies and researching educational materials provided on the platform. However, it is crucial to understand that trading is always connected with the risk of losing your funds.