Tiburon Corporation Limited owns Binomo, registered in Seychelles. They have two listed addresses, one in Seychelles and the other in Cyprus. The company founded the unique trading platform in 2014, and as per the owners, they hold an FMRRC Certificate; a Russian non-profit provides this certification for brokers and dealing centers but have few legal powers.
Binomo also states they are a category “A” member of the International Financial Commission, a Belize government agency. The company seems to be getting their services from market authority from different organizations around the globe. They are not however registered brokers with CySEC or FCA regulation.
The company offers free training in the form of video tutorials, a training book and knowledge base content that allows people to improve their financial literacy on how to earn money. That makes the platform easy for first-time brokers but professionals can use it as well. They also offer regular tournaments, promotions, and sweepstakes.
The minimum deposit one needs to take part is $10 and to make $1 investment. Binomo state that a person can make profitability as high as 95% in 30 seconds expiration times. They state that it’s as easy as determining if the graph will go up or down. There are four different accounts that one can sign in on to the Demo account, Standard, Gold or VIP. Modes of deposits include MasterCard, VISA, WebMoney, Neteller systems, Yandex Money, Mobile Commerce, and QIWI.
For the demo account, one gets to experience the real account for free. Most trading experts advise first time traders and those wishing to improve their trading strategies to first start with a simulation that allows them to practice to avoid losing money a lot of money in real life. Binomo essentially enables users to test run the platform before deciding if it is the platform for them with no commitment fee. A person gets $1,000, €1,000 or 50,000 rubbles to trade with and implement the strategies. There is also training on skills for capital management
In the Standard account, one gains full functionality of the platform and open to those with all levels of trading capabilities. The minimum deposit is $5 with fixed profit falls at 85%, and one has access to the trading options with just a $1. One can deposit as they wish while the withdrawal of profits takes three business days. To encourage participation, Binomo allows users to participate in tournaments and also receive bonuses when they top up. Technical support is also available.
With the Gold account, the minimum deposit shoots up to $500 with the promise of a potential increase in trading profits. There are more trade assets to choose from with the option of receiving earnings within 24 hours of making a withdrawal. The trade yields go up to 86% with an increase in bonus sizes while the account is active. A personal manager is also made available to offer advisory services with some trading strategies available for implementation. One also gets a weekly cashback of 5%.
The VIP account requires one to put in $1,000 and above. With this package, a person receives a program account service individual to them inclusive of trading conditions carved out for VIP members. Binomo states the give client bonus that goes as high as 100% with trade profits set to 87% that one can withdraw within four hours or less. A VIP holder also has access to some assets that others on different packages don’t have access to along with investment insurance tools. They can even get analytical support via Skype and weekly cash back of 10%.
As for the options types, you can only trade for 60 seconds, and high and low options. The expiry dates for the later are 15, 30 and 60 seconds with the choice of making six one minute increments.
Overall, the site is friendly and easy to navigate. One can also get technical support on the weekend. The languages available are English, Spanish, Portuguese, Russian, Polish, Chinese, Vietnamese, Indonesian, Thai and Malaya. They provide a mobile app for their users via Google Play and the App Store, providing users with the much-needed convenience of trading on the go. There is also free training available for those who need it. Binomo also boasts awards and a feature on Forbes magazine.
• Comes with a demo account
• Ideal for beginners and offer tournaments for their users
• Offer various accounts with both low and high minimum deposit required
• They aren’t a registered broker with CySEC or other reputable organizations
• The multiple addresses, certification, and authority regularity authority may appear scam like
Those starting out and wishing to polish their Forex trading skills can try out the demo account that Binomo offers to determine if this is the right trading partner.