What is Binomo in Qatar and how does the trading platform work - explanation and tutorial

What is Binomo in Qatar and how does the trading platform work - explanation and tutorial

What is Binomo and how does the trading platform work in Qatar

Have you ever heard of Binomo trade platform? It is an online platform that serves traders of all skill levels. It was founded in 2014 and Binomo head office is in St.Vincent and the Grenadines. Binomo is an awarded and certified company. It has awards such as IAIR and FE which demonstrates that Binomo was selected as the best trading platform for the beginners, and as the trading platform of the year in the past. Binomo has a certificate from the Financial Commission as well, which indicates that the Binomo customers’ rights are under guarantee.

If you want to know more about binomo.com, please continue reading the review. 

Binomo is not a fraud

As we mentioned in the introduction part, Binomo is a certified company. It received a VMT (Verify My Trade) certificate in 2018, as the company proved itself that it offers a reliable trade to its customers. Binomo satisfied the expectation of the Financial Commission committee in terms of quality standards. Thus, the company was entitled as a reliable trading platform. 

On some social media platforms we see such comments as “Is Binomo trading platform a scam and illegal in Qatar?” Based on our observations and experiences, we can clearly say that no, Binomo isn’t fraud. The certificates and titles Binomo say are the opposite.

How does Binomo trading work?

Binomo is an online trading platform, which is available in the app and on the website, with more than 50 assets provided regarding what type of account you have. First of all, you have to choose one asset to trade. Secondly, you have a prediction about whether the chosen assets’ value will rise or fall within the time period specified by you. 

Let’s give an example:

We choose the currency pair USD / EUR. The next place you have to pay attention is the green and red arrows. By clicking the green button, you produce a forecast that the asset you selected will gain in value. By clicking on the red button, you produce a forecast that the asset will lose value. When the remaining time is up, you get funds on deposit if your forecast is correct.

Sign in and Login

Binomo website and app are user friendly. Please follow the steps below to learn how to sign in binomo.com:

1. Click the "Sign in" button on the main page.

2. Write your email.

3. Set a password.

4. Choose the currency of your account (you can’t change the account's currency later).

5. Read the Customer Agreement and Privacy Policy, then tick the box.

6. Check your email and click the link that was sent by Binomo.

That’s it! Now you’re a Binomo user. Click on the “Login” button to use your account.

Note! You can also enter Binomo's personal account through your Google or Facebook account.

Tutorials

For the clients’ comfort Binomo provides every kind of material that a trader may need. Here is the list what Binomo gives access to its customers:

Free practice on a demo account.

Strategies section for traders of all skill levels.

Help center to answer your all questions.

Glossary of Terms for you to understand the trade terms that are being used on the platform better.

7/24 available customer support@binomo.com.

Online trading demands patience, training and hard work. To perform them all, Binomo provides its clients with free educational materials and features that serve as a guide. The rest is up to the trader!

Minimum Deposit

The minimum deposit amount on Binomo changes according to what kind of an account you want to have. Please check the current account types below:

Demo: Every Binomo customer is provided with a Demo account after their registration. It’s totally free and should be used with the purpose of mastering trading skills. It’s funded with virtual $1000 by Binomo. Don’t forget that it’s not real funds and you can’t withdraw it.

Standard: Minimum of $10 or equal local amount is required to have a Standard account. It’s the entry-level account for Binomo users where they can trade with real funds. You can trade with over 40 assets and join the tournaments to double the joy of trading!

Gold: A total amount of $500 or equal local amount is required to have a Gold account. You can trade with over 50 assets, join the tournaments, get up to 5% cashback in some cases, have your own personal account manager and insurance of your Binomo investments!

VIP: Cumulative deposit of $1000 or equal amount is required to have a VIP account. You can trade with over 55 assets, join the VIP tournaments, get up to 10% cashback in some cases, benefit from risk-free trades, have your own personal account manager and insurance of your Binomo investments!

Bonuses

Binomo provides its clients with different kinds of bonuses to give them the opportunity to double the profits per trade. There is a “welcome” gift from Binomo, called a no-deposit bonus. No-deposit bonuses are given for each deposit (25%). But don’t forget that you must fulfill the turnover requirement to withdraw your extra income that you made with the help of the bonus. The turnover requirement is written on the Client Agreement.

Withdrawal Method

Bank cards or e-wallets can be used for withdrawal funds on Binomo. Just be sure that you are using the same payment method for deposit and withdrawal. You can use as many deposit methods as you need, and later they will be available for withdrawals no matter what deposit method has been used the last time. Withdrawals can take up to 3 days and sometimes even longer.

Verification

Every Binomo user has to complete the verification process to withdraw funds. The verification process was designed to ensure the platform’s users safety. Account verification takes place within 72 hours. To do this, you need to provide the following documents: passport or ID, statement from a bank card or e-wallet.

Limit

Daily withdrawal limit: $3,000 or an equivalent amount.

Weekly withdrawal limit: $10,000 or an equivalent amount.

Monthly withdrawal limit: $40,000 or an equivalent amount.

What is a Binomo app?

Binomo app is the mobile version of Binomo website and enables you to trade using your phone or tablet. Please find:

Binomo app for iOS on App Store and for Android on Google Play.

Binomo APK for Android devices: https://binomo.com/en/promo/android. 

Conclusion

Indeed, trading always requires knowledge and experience. But if you neglect it, then while trading online always be aware of the risks of losing a part or the whole of your deposit. Therefore, improve your trading skills to minimize these risks.