How to trade on Binomo: the main steps
In the age of advanced technologies, there are a plethora of opportunities to earn an additional income online. If you would like to learn how to get extra income from trading, you just need to find the right platform. Binomo is a reliable online trading platform in South Africa where you can earn extra income.
How does it work? In this article, we’ll talk about what the Binomo trading platform is. Figure out how to use it, how to trade on it, and whether it is legit for trading in South Africa or not.
What is the Binomo.com website
Binomo is a client-oriented company that offers leading trading technologies in many countries. It provides high-quality transparent trading services. Regulated and certified by the International Financial Commission, Binomo is subject to auditing and accountability to ensure the company maintains its years of reputation and standards. With this online platform, you can trade and learn strategies to increase your income.
Binomo registration and log in
Before you trade on Binomo, whether on an app or website, you must register.
- Go to the English version of the login page on the web (www.binomo.com) or sign up via the mobile app.
- Click on the “Log in” button.
- Enter your valid email address and select a password.
- Then, choose the currency you want to use in your Binomo account. Remember that once you select the currency, you can change it after registration.
- A confirmation email will be sent to approve your Binomo account. This step is essential, and once you complete it, you can sign in to your account by entering your email id and password.
Sometimes a company may request documents proving the ID of the account holder. Previously, the verification took several days, but now the automatic verification service is available on Binomo, and it takes a few minutes (vs. IQ Option).
How to use Binomo?
How to make money on Binomo? Well, you need to know that this platform is for getting extra income and practice in trading, but this is not the way to get fast extra profit. Before you open a trade, learn the basics about trading and figure out how Binomo works.
Start with a demo account and learn everything about how it works. Initially, after logging in, it gives you virtual funds of $1000 to learn how to use Binomo and trade. Then, log in to Binomo.com or the Binomo app and get an account for practicing. Keep in mind that the virtual funds of $1000 are only for practicing purposes, and you cannot withdraw them.
Once you know the tools and the interface, you can begin trading with real funds depositing a minimum amount of $10. Moreover, traders can participate in the “Daily Free” Binomo tournament on the demo and other accounts. It helps you to get empowerment for future trades. The “Daily Free” contest is not available to traders on the Binomo App.
If you have any further queries, you can go to the Help Center, which contains various FAQs and serves like Wikipedia for traders. Alternatively, you can find traders’ and brokers’ reviews on the specialized forums. If you still have queries that are not answered, you can always contact the Binomo support team, and the experts will help to resolve your questions.
Effective use of strategies for trading has a vital role while making a forecast. On the Binomo website, you can find various strategies for the novice and experienced traders. Note that no trading strategy guarantees a 100% outcome on the trade. You won’t find any 100% winning strategy as there isn’t anything like it. You must improve your knowledge and practice as much as you can to trade wisely.
Note! Trade on your own and avoid using signals and Binomo bots as they are cheating.
The minimum deposit for South African traders on Binomo is $10 or equivalent in local currency (~155 ZAR). You can deposit cash into an account via various options such as bank cards and e-wallets like Skrill, Advcash, MasterCard, VISA, and Perfect Money, although some like Paypal are not among them. Once you’re confident with trading on demo, invest your first deposit and trade on a real account.
You have to pay your taxes, as Binomo is not a tax agent. Once you learned how to deposit to your account, you need to figure out how to open and close a trade.
By now, you must have an idea about how to invest in Binomo. Now, let’s see how to trade. This online trading platform uses FTT (Fixed Time Trades). How does it work? FTT allows you to earn extra funds up to 90% (in case of correct forecast) of your trade size. With it, you can earn on the slight price fluctuations.
Here is the step-wise tutorial on how to trade on Binomo:
- Sign in to your Binomo account.
- Select the asset you wish to trade.
- Determine the trading amount.
- Select the time for how long you want to run the trade.
- Make a forecast of whether the chart will go UP or DOWN.
- If you forecast correctly, you will get the extra income to your account. On the contrary, if it is incorrect, then your funds are not returned.
Sometimes traders wish to know how to play on Binomo. Here it’s important to mention that trading is not a game; you need to rely on your experience and knowledge to forecast based on analysis.
Binomo offers various bonuses to its traders which can be highly beneficial to them:
- The welcome bonus on Binomo is provided to all users after registration at 25% and is valid for only 30 minutes. However, Demo account holders can’t use it until they have made at least a minimum deposit.
- A deposit bonus is available after the minimum amount is deposited into the account. Besides, you can get a bonus code or coupon as a gift from the manager or as Binomo promotion. It can add to your deposit bonuses.
- No-deposit bonuses include risk-free trades for VIP account holders, mailings to Binomo’s regular customers with codes that activate the bonus, promotion, or others.
According to Binomo’s terms and conditions, it must complete a trading turnover before you withdraw any bonus.
Withdraw funds from Binomo
On trading successfully and earning the extra income, it’s time to learn how to withdraw money from Binomo. The steps include:
- Go to the “Cashier” section and then click “Withdraw.”
- Enter the amount you want to withdraw and choose the payment method.
- Submit your request, and the fund will arrive.
Binomo withdrawals are made to the same payment methods that were used for the deposit. It is done to protect your account. There are the minimum and maximum withdrawal limits. Withdrawal of funds takes from a few minutes to 3 days or even more, based on the account type and the selected payment system.
Binomo is not a scam
When people learn about so many benefits, they often question the platform’s authenticity, whether it is safe and real or illegal and fraud. If you’re wondering whether it’s legal, Binomo is a trustworthy trading platform, not a scam or fake. It has many traders in each country of operation from various parts across the globe, including South Africa.
The International Financial Commission (IFC) regulates and identifies Binomo as a member in category “A.” In addition, Binomo was audited by Verify My Trade (VMT), a specialized service that authenticates the quality and standard of the trade execution of the company. As a result, Binomo has a certificate of quality of trades which attests that it offers high-quality trading services. Head to their website and find the office address, contact details, and other information about the company if you need it.
Another proof of the platform’s reliability is reviews on the net from traders who tried trading on Binomo. See what’s their opinion:
Praveen Dilliwala: “Binomo is a great platform to earn extra income. It works where you have to predict whether the selected currency goes up or down. If you think it is risk-free, then think again. Obviously, if you are investing more, the risk also increases.”
Michael: “I have 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. In general, it is quite good. ”
Devdondidit TV: “It’s a great online platform where you earn additional income. All you need to do is forecast whether the chart will rise or fall in value. And all the things in life, there is risk in capital loss. You can succeed with Binomo online trading. ”
Binomo has an app that can be downloaded from Google Play Store and App Store – for Android and iOS devices. Just find the yellow Binomo logo on your store and trade through a mobile app. You will have access to the platform from every place with internet access.
If you’re facing a problem installing the Binomo mobile app on Android, there is also another way. There is no need to hack. Instead, download the Binomo apk file: https://binomo.com/en/promo/android and start investing and trading.
Binomo for PC
There is no software to download for PCs (Windows/Mac OS). You can access the mobile trading app only on mobiles and tablets or go to the platform via browser by logging in from the website.
The bottom line
Binomo offers a great online trading opportunity to both new and professional traders. It provides tutorials, tips for trading education, and a demo account for training.
Moreover, it answers your queries, supports and educates you in all possible ways to help you earn extra income. In case you make a correct forecast, you get a profit of up to 90%. Another way to get extra income is to join an affiliate program known as BinPartner.
Although you now know all about the Binomo company, before making an investment, make sure that you are really clear about the risks involved in trading. In case you make an incorrect forecast, you may end up losing your funds.