Are you asking, what’s Binomo, how does it work, and can you earn extra income here or not? Read through this review to get the essential tips from experienced traders in Pakistan on how to effectively use the Binomo website and app and get closer to your dream.
Ensure the company isn’t involved in fraud
Binomo is a trustworthy platform with regulations from the Financial Commission – a neutral body that resolves any financial markets disputes. It also has several awards and a trade quality certificate from VMT. So, the broker is not a scam or illegal but regulated.
The company’s bright yellow logo has attracted international members from over 130 countries. The net, including forums like LinkedIn, has many positive reviews with payment proofs. You can also judge whether Binomo is real or fake by visiting its web page. You will find all information about the company, including the head office address and email contact.
Be attentive when signing up on Binomo
Once you understand that the platform is legit and never a scam, you can start your trading activities.
To open an account, follow the instructions below:
- Press the sign-in to the left of the language selection button (English is among the 13 languages you can choose on the Binomo login page), and you will see a sign-up form.
- Provide a working and valid email address and a strong password to prevent account hacking.
- Select the currency that you will use for payments and withdrawals. Note that you cannot change it unless you close this Binomoaccount and open a new one. So, choose carefully.
- Read the terms of service to avoid violating them since it may lead to the cancellation of your account. Tick the box to confirm your agreement.
- After receiving an email requiring you to confirm your address, kindly click the link inside.
To complete the account registration, Binomo may need verification to ensure your funds are safe from falling into the wrong hands. The process is automatic; it does not require hard copy documents and takes only a few minutes, vs. IQ Option, where it can take several days.
Use all the tutorials that Binomo offers
Education is essential to every trader who wishes to reach the goal, and the platform provides all necessary to accomplish this. Once you finish registration, you can log in to a free account for your trading practice and learning. Binomodemo account is a safe environment with $1000 virtual funds, and once you exhaust them, they get replenished.
You can access the “Daily Free” tournament even with this account. Hence you can contest with other traders to keep your skills a notch higher and get empowerment on Binomo.
If you have any concerns or questions, get to the FAQ section (Help Center), which is like Wikipedia of trading. The Binomo chatbot would also answer how it really works, and a support agent is available to help you out 24/7.
Focus on your trading strategy
Trading is not a game you may need to know how to play. There is no 100% winning strategy since what worked for someone else may not work for you. You need to continuously learn on the demo account and combine different strategies to develop your trading own approach. In addition to believing in ready-made trading techniques, the platform also does not encourage the use of signals. You should also not think about how to make money and quickly get rich on https://binomo.com.
Increase your investments in the platform
Once you feel that your skills are sufficient, you can make your first deposit and get a real account. The minimum investment you will need is only $10 (the trade entry threshold is $1).
If you are in Pakistan, you have various payment options to deposit in Binomo, including, JazzCash, EasyPaisa, CashMaal, Perfect Money, Skrill, etc. Kindly note that Paypal is not available.
The platform offers several bonuses that can boost your account:
- The welcome bonus is given to newly registered users for free. It is 25% of the amount you deposit to Binomo, and it is only valid for up to half an hour.
- The deposit bonus: you get this bonus anytime you top up. The higher your deposits, the greater your rewards will be. The amount also differs depending on the account you hold.
- A bonus coupon or code: A personal manager can give it to the VIP account holders, or you can get it during Binomo promotions. Its significant advantage is the summation with deposit bonuses.
- No-deposit bonus: Binomo can delight its customers by, for instance, issuing insurance to holders of VIP accounts, sending emails to regular clients with some amounts credited as a gift, and many more. Deposit insurance is a reward for privileged traders. For instance, if something happens to the account, it drops to zero; the platform will compensate a part of the investments.
- Risk-free trades: VIP clients are given a fixed number of trades whose sums are predetermined.
Note that the terms and conditions do not allow you to withdraw from Binomo unless you reach the required trading turnover for some bonuses. However, once this condition is met and you feel ready to withdraw money from Binomo, you only need to use one of the payment methods you chose while depositing funds into your account.
The minimum withdrawal is just $10. The withdrawal limit per day is $3000, per week is $10,000, and per month is $40,000, though the payment systems may also set the limit according to their policy.
Other platforms, such as IQ Option, charge a withdrawal fee vs. Binomo, which does not take any commissions in Pakistan.
Download the app and trade on the go
Carrying your PC to trade may be cumbersome. That is why Binomo has a mobile app for Android and iPhone that you can download for free from Google Play or the App Store to trade anytime and anywhere.
Note! If you experience any difficulty, kindly don’t hack the app but use the QR code on the website to download the APK version.
The Binomo trading app is not available for PC because its software is not designed for Windows or Mac. So, if you wish to trade on your desktop or laptop, you need to log in using the browser version.
Remember that haste is fraught with risks
Even the most ambitious trader should never be in a hurry and skip training. We recommend you learn how to close a trade on a demo account before moving into a real one to minimise losses. You can also get additional profit from Binomo without risk by being an affiliate partner.