Binomo is a web choices commerce broker that started operations in 2014. The broker may be a subsidiary of the Tiburon Corporation restricted and is headquartered within the Seychelles. Currently, they need 2 main addresses.
The first is Tiburon Corporation restricted situated in Suite one, of the second floor within the Sound and Vision House on Francis wife Street, Victoria Seychelles. Their second address is Stagord Resources restricted situated within the fourth floor of the Irene Building in national capital Cyprus.
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The platform provides 2 contact numbers for traders +441143033932 for United Kingdom of Great Britain and Northern Ireland client support and +23414408171 for African country client support. It’s value noting that the phone numbers ar solely active from eleven.00am to 15.00pm UTC. Besides phone support, you’ll be able to additionally contact Binomo through Skype, email and live chat.
Currently, this broker is simply regulated by the International money Markets Relations laws Center (IFMRRC). The organization describes itself as a non-commercial body created to manage services provided by brokers, dealers and alternative money and investment establishments.
Is Binomo a scam or legit on-line choices broker?
One of the key options I investigate once deciding whether or not a broker is legit or not is that if they’re totally regulated by a good authority. As i discussed, Binomo is regulated by the IFMRRC. I sometimes place preference to brokers World Health Organization hold certificates from good authorities like CySEC, ASIC and FCA.
After hair care through the Binomo web site, I found that they need a unfinished CySEC and CPO regulation. though it’s an honest indicator regarding however serious the broker is regarding attracting traders from completely different components of the world, I’d advise traders to attend till they’re totally regulated by CySEC.
However, if you continue to need to undertake out the platform, you’ll be able to cash in of their low $10 minimum account deposit to begin commerce. this may alter you to undertake out the platform while not risking plenty of cash.
Trader Notice: you’ll be able to safeguard your investment by commerce solely with a completely regulated broker. we’ve got found two regulated brokers you may have an interest in. begin commerce with a good broker now!
What makes Binomo stand out?
The Binomo platform is sort of distinctive and offers many dealer friendly options. One feature that basically stands out is that the ‘hotkey’ choice. Once enabled, you’ll be able to quickly issue commands like increase/decrease investment quantity and execute trades while not employing a mouse.
The platform additionally provides several charts and technical analysis tools. This makes it straightforward to customise your commerce interface to fit your commerce preferences.
Does Binomo have any major shortcomings?
Every dealer needs to own management over their investment. Binomo includes a clause in their terms and conditions that looks to limit this management. in keeping with the clause, you’ll have 100% subtracted from your funds do you have to conceive to withdraw before your trade turnover reaches a minimum of double the deposited quantity.
For example, say you deposit $100 and judge to withdraw the total quantity before creating trades value $200 or additional. Binomo can deduct 100% ($10) from your funds.
Should you open a Binomo commerce account?
This on-line broker offers a demo commerce account attributable with $1000. this can be an honest place to urge started so as to urge a feel of the platform. You’ll solely would like a sound email account to open a demo account. additionally, you’ll be able to simply fill the demo account funds if necessary.
But, what will a true Binomo commerce account offer?
The platform comes with a well-designed dealer interface. It isn’t untidy with plenty of options that may be a great point particularly for beginner traders. Besides having the ability to trade directly from your browser, you’ll be able to additionally access the Binomo platform via mechanical man or iOS app.
Besides the demo account, there ar 3 alternative account sorts to decide on from as follows:
Binomo normal Account
To open a customary account, you’ll solely would like a deposit of $10. Profitable trades offer a come back of eighty fifth. Withdrawals ar processed at intervals three operating days.
Binomo Gold Account
The minimum deposit to open a gold account is $500. Gold account holders earn returns of up to eighty six on profitable trades. This account sort additionally attracts a weekly cashback of up to five and withdrawals process of at intervals twenty four hours. alternative advantages embody a private manager and consultive services.
Binomo personage Account
The minimum quantity required to open a personage account is $1000. you’ll be able to receive up to 100% bonus once you open a personage account. Returns on made trades will reach ninety seven and withdrawals ar processed at intervals four hours. personage account holders also are eligible for a tenth weekly cashback and alternative further options not offered to plain and Gold accounts. It’s value noting that every of those live accounts attracts a signup bonus. Bonuses also are offered to existing account holders from time to time.
The platform additionally offers a good vary of technical analysis tools that permit you to stay track of trends in real time.
Binomo additionally offers the ‘hotkeys’ tool that is exclusive across the net choices brokers I’ve tried out. What this tool will is activate keyboard shortcuts to common commands you issue whereas commerce.
This way, you won’t need to consider clicking on your mouse once supply commands so saving time. i’d but advocate you initially learn the various hotkeys mistreatment your demo account before making an attempt them with a live account.
If you’re simply obtaining started as a dealer, Binomo provides a group of tutorials to urge you not off course. These embody video tutorials, a close knowledge domain, and techniques section. Their list section but isn’t as elaborate as you’d expect with any on-line choices broker.
The minimum quantity you’ll be able to invest during a trade is $1. The platform accepts many payment ways that embody credit/debit card, QIWI, Neteller and WebMoney. Withdrawals ar created to any of those payment systems. The broker doesn’t charge associatey withdrawal fees unless you would like to withdraw funds before commerce an quantity a minimum of double your last deposit.
Binomo additionally frequently offers tournaments that build it straightforward to earn cash outside your traditional trades.So what’s my opinion relating to whether or not you must open a Binomo account or not?
I believe the platform has created an attempt to square out as a legit on-line choices broker. I’m a small amount reserved once it involves brokers regulated by the IFMRRC solely. Their demand that you simply have a trade turnover exceptional double your deposit quantity before retreating is additionally one thing they have to figure on.
However, only if you’ll be able to deposit $10 and trade with as very little as $1 I think about Binomo value making an attempt out. however before creating my final conclusion, it’s best I think about existing dealer complaints furthermore as a breakdown of however I rate completely different Binomo options.
Binomo may be a good on-line commerce platform. It comes with all the options you’d expect from a broker making an attempt to draw in traders from across the world. The platform is simple and offers several dealer friendly options.
However, there ar many shortcomings that can’t be unnoted. 1st is that the regulation issue. Being regulated by the IFMRRC only locks out several traders particularly from European countries.
Their phone support might use further live hours. the ten fee on withdrawals created before a precise turnover is achieved is another defect value considering before investment with this broker.Overall, I wouldn’t rate Binomo terribly extremely. If you’re searching for a extremely rated and totally regulated choices broker we’ve got the proper one for you.