What if we told you that you could earn extra income online with profitability on your investment of up to 90% in case of the correct forecast? That is possible. Binomo is a trading platform focused on giving everyone 24/7 access to trade currency pairs, equities, commodities, indices, and OTCs. Are you interested? Then read the article below to understand how does Binomo really work.
- Comply with Binomo terms and conditions
- What does a trade education consist of?
- Explore strategies
- Explore the Help Center
- How to invest in Binomo?
- How does Binomo trading work?
- How to change the currency in Binomo?
- How can I withdraw funds to a bank card?
- What is verification, and why do I need it?
Comply with Binomo terms and conditions
Before you can open a trading account on https://binomo.com/, you must read and agree to the platform’s terms and conditions of use. The Client Agreement is a document that explains how the Binomo platform works and how to use it without breaking the set rules. When you have read the document intently, tick the box to indicate that you have done so, then you can proceed to trade.
These conditions help traders operate the platform smoothly and safely. Some of them are also standard requirements of regulators. You must comply with them to prevent any issue and possible restrictions on your Binomo trading account. After logging and reading the platform rules, it’s time to training.
What does a trade education consist of?
Binomo provides several free avenues for trading education. Immediately after sign up, you have access to a Demo account for practice. You get virtual 10000$ for real-time trading without risking your funds. When you start using a Demo account, you will see small pop-ups with tips on the functions of the buttons on the chart and the sidebar. You must understand that Binomo is not taught how to play. On a Demo account, you figure out how to trade using strategies, analysis, and financial instruments.
In addition to trading tips, Binomo also offers you to familiarize yourself with the Strategies and Help Center sections.
These are strategies that have been tried and tested by experienced traders. Binomo provides a long list of them. You can try them out on a Demo account to increase your trading experience and then apply them in real trading to reduce the risk of investment loss due to a wrong forecast.
Note! Remember that we are not talking about winning but trading, where knowledge and strategy are needed to complete the trade.
Explore the Help Center
On Binomo, there is a section for FAQs and other short educational articles about the platform’s features. It is the Help Center section. There is also a search bar to enter keywords about any issue you are concerned about to find all the articles on the topic.
How to invest in Binomo?
After training and understanding how to trade on Binomo, it is time to deposit funds for real trades. Tutorial on how to invest money in the platform:
- Register on Binomo and log into your account.
- Click the “Deposit” button and select your country.
- Choose one of the payment methods: bank card or e-wallet. Popular and reliable options are presented for each country.
- Enter the amount you want to invest and click “Deposit”.
The minimum deposit amount is 10$, and for traders from India, it is only 5$. After that, you can switch from a Demo account to a real one for trading.
How does Binomo trading work?
To trade on Binomo, follow these steps:
- Make sure you switch to a real account.
- Select the asset you want to trade.
- Specify the amount and set the end time of the trade.
- Based on your analysis, click the green button if you forecast the asset’s price will UP. Press the red button to indicate that the price will DOWN.
- Wait for the trading time to run out.
If your forecast is correct, your profit will be credited to your trading account. If not, you will lose the funds invested in the trade.
Note! Use only your trading experience to make forecasts. Don’t rely on signals from the internet.
Let’s consider the most popular questions that traders are looking for in the Help Center.
How to change the currency in Binomo?
Unfortunately, it is not possible to change the currency of your Binomo account. If you want to trade in a different currency, you should create a new account and set a preferred currency. But before you do this, you must block the old account not to violate the platform’s rules.
You can always fund your account from bank cards or e-wallets in a currency different from the one in which your trading account is installed. You can make these deposits as usual. Binomo converts such funds into the currency of your choice for your account, free of charge. Funds are converted at the rate of your bank.
How can I withdraw funds to a bank card?
Withdrawing funds to your bank card is one of the methods by which you can make withdrawals:
- Click on “Cashier”, then on “Withdraw funds”.
- Type in the number of funds you want to withdraw, and select your preferred withdrawal method.
Your withdrawal request will be processed within a few minutes up to 3 days or more, depending on your account type.
Note! You can only withdraw funds to those cards or e-wallets from which you have deposited your Binomo trading account at least once.
What is verification, and why do I need it?
Verification is how Binomo confirms that you are who you say you are. It is not required immediately after creating an account, but it will be necessary at some point. Ultimately, every trader must verify on Binomo. When asked to provide documents for verification, withdrawals from your account will be stopped, but you can continue trading.
All you need to do is provide the necessary documents by email firstname.lastname@example.org or using an automatic verification service. Typically, verification takes up to 10 minutes.
Verification is mainly required to ensure the security of the platform and traders’ funds. Regulators and payment partners need it. Verification allows Binomo to be sure that only you can access and withdraw funds from your account. If someone else did it somehow, it would help to track and get your funds back.
The Binomo platform is a great way to get additional income. But if you are still asking how to make money on Binomo, we advise you to go through the article again. By regularly trading and practicing on a Demo account, you can reduce the risk of losing funds due to incorrect forecasts because trading always involves financial risk.
Just as you can get up to 90% profit on trade in seconds, you can also lose your trading capital in seconds. Your responsibility is to measure these risks and practice consistently. Binomo understands this and offers several training tips to understand the intricacies of trading and how does the platform work. It will help you minimize your investment loss.