Choosing a reliable company is a key task for all novice traders. The market offers a fairly extensive list of various options. But there are not so many international leaders, they can literally be counted on the fingers. One of them is Binomo. In the article we will conduct a detailed review of the functionality and trading conditions of this platform, its advantages and disadvantages.
Brief information about the company
Binomo is an international company providing services in the field of online trading. It has been on the market since 2014. It has a good reputation among traders around the world. Platform activity is officially licensed. The company is listed among trusted sites with a rating by International Finance Commission LTD of category A, the highest level. Moreover, they have certification from local financial market regulators, who also have a high level of international trust.
The company entered the market with a focus mainly on a target audience of novice traders. Especially at first. In 2015-2016, corresponding awards were received at various festivals and forex exhibitions. Now Binomo is a highly functional platform for trading on financial markets. The simplicity of the interface and the availability of opportunities for fast learning makes the platform attractive to beginners, and the favorable trading conditions, terminal functionality, and the chance to participate in large-scale tournaments are for experienced traders.
Trading and market analysis
The platform on Binomo is presented in 3 versions - a web version, a mobile terminal, and a special application for trading contracts for difference (CFDs). The web terminal allows you to trade only “Higher/Lower” contracts.
Web terminal overview:
- Trading"Higher/Lower" contracts with profits of up to 89%, they start at $1, expirations from 1 minute to 1 hour.
- Market analysisBasic range of integrated tools for technical analysis. The list includes oscillators and trend indicators, as well as chart figures. There is a built-in news service with forecasts and recommendations for the trader. Large selection of chart time frames.
- InterfaceContrasting dark background. Multi-mode with multiple tabs. The ability to scale and scroll the chart. Access to important tools right in the terminal.
We want to emphasize that Binomo supports a terminal of its own design. Therefore, its capabilities are constantly expanding through regular updates. The functionality of the mobile version is almost identical, except that there are fewer advanced tools for technical analysis.
Binomo - an international company operating worldwide. Therefore, the issue of localization is given special attention. This concerns not only translation into languages, but also integration with local payment services of a specific state. Depending on the trader’s country of residence, the site offers an optimal set of payment systems.
International systems that are supported include VISA and MasterCard, cryptocurrencies, as well as AdvCash, PerfectMoney, NETELLER, and WMZ. The range is regularly updated with new systems, especially in new markets such as Brazil, Indonesia, Turkey, and others, which are currently being actively developed.
Binomo for professionals
The platform is not only suitable for beginners, but also for experienced traders. The key benefits for advanced traders on financial markets include the following:
- support of classic “Higher/Lower” contracts and CFD price difference contracts;
- high profit margins, round-the-clock availability of assets;
- availability of CRYPTO IDX for efficient technical analysis on second time frames;
- paid tournaments with prize funds of $1,5 to $70 or evern more;
- 14 integrated indicators and more than 20 chart tools.
Also of note are the fast uninterrupted payments, always carried out within the framework of regulations, the high platform speed, and the round-the-clock support service.
Binomo for beginners
The company truly earned its award for the best platform for novice traders. Binomo offers a service that allows you to effectively learn how to trade - either independently or with the help of a mentor.
Advantages for beginners:
- free and unlimited demo account with full functionality;
- step-by-step trading guides, ready-made strategies;
- training videos on the topic of trading, FAQ on the topic, a glossary of terms;
- the availability of individualized training under a personal manager.
We should also mention the unique opportunity to earn real money risk free. The idea is simple: trading on a tournament account in daily trader competitions. Entry into the event is free, and the prizes are credited to the winners' real accounts.
Advantages and disadvantages
The company's client-oriented focus has allowed it to gain great popularity around the world. The trading platform really meets the needs of the majority of its target audience. Now let's consider the key advantages and disadvantages of Binomo from the trader's point of view.
- easy-to-use and highly functional terminal - technical and fundamental analysis;
- favorable trading conditions - profit, minimum deposit, type of contracts;
- high level of reliability of the company, good reputation, 5 years of excellent operation;
- financial issues have been worked out - support for multiple systems, fast payments;
- beginner training - demo account, video tutorials, round-the-clock support service.
- long-term trading has not been fully developed;
- relatively small range of assets.
There is reason to believe that in the near future the first drawback will be eliminated. In March 2019, longer chart time frames were added to the platform, and in the near future, contract expirations are likely to be extended. Regarding the small range of assets - this is a controversial drawback. The range of 200-500 derivatives is impressive mainly to beginners but it does not provide a real advantage. Therefore, experienced traders mainly trade options from the TOP 50, which is quite enough.
For our part, we recommend Binomo all traders, but especially beginners. The platform allows in practice to see how easy trading in financial markets can be. However, this does not negate the need for training.