You keep hearing stories about people trying their luck with the stock or real estate markets, hoping to make some money in these stressful times we live in. Sadly, most stories end up being about how someone lost their money because they made a bad call. While there are many ways to make money, binary options trading has been significantly rising in popularity over the past few years. Like with regular stock trading –– and any market for that matter –– you need to know what you’re doing if you want to make money. This starts by selecting the right binary options trading platform. Binomo is one of the rather popular ones, but just how good is it?
Binomo is one of the more versatile trading platforms out there. You can trade not only in binary options, but also a cryptocurrency, CFDs, and even forex. One of the best features of this platform is the fact that it gives you the option to focus on low trade size requirements, unlike many of the bigger platforms. This makes it much more possible for you to manage and control the risk. Binomo also offers affordable entry requirements, which means any person who wants to get into binary options trading can start whenever they want. Yet, the platform also has VIP features for more seasoned traders who would like to access more options.
Regulation and Licensing
Arguably the most important feature of any trading platform, binary options or otherwise, is the type of regulation and licensing it has. In this Binomo review, you can see that it is regulated by the International Financial Commission (IFC). It has also been a Category A member for around two years now, and that is a testament to the platform’s reputation in this market. This is why Binomo has close to a million daily traders, and a ton of trades are conducted on the platform every day. Binomo is also close to acquiring licensing by the CySEC, but its Category A ranking should be more than enough for traders to know it’s safe.
Binomo offers many interesting and useful features. For starters, you can get a demo account offering $1000, which you can use to understand how binary options trading works without jeopardizing your own funds. The minimum deposit and withdrawal limits are very small –– $10 –– and that makes it possible for anyone to try trading. More importantly, you don’t have to wait until you have hundreds of dollars in your account to make a withdrawal. What traders would be interested in, though, is the maximum returns they can get while trading on Binomo. They can go up to 90%, which is one of the best payouts most traders can hope for in binary options trading or other markets.
Accessibility is an essential feature in any trading platform, and Binomo provides traders with just that. The platform offers a high-quality mobile app, not to mention a mobile-reactive platform if you are using the desktop version. This makes it very easy for you to trade wherever and whenever without any complications. You also get features like push notifications so traders can keep track of transactions or any promotions, making it possible for you to stay on top of everything.
Binomo has a variety of assets that traders can trade in, making it a very versatile trading platform. You can trade in cryptocurrency, stocks, indices, currency pairs, and even commodity pairs. All in all, you have over 50 different assets that you can trade-in, so you’ll definitely find something to your liking because most markets are covered within those assets.
Like the majority of trading platforms, Binomo earns money when you make an incorrect prediction or a failed trade. They don’t charge fees for their services otherwise, and that makes this platform very tempting for those who invest a lot of money. Binomo also doesn’t use leverage, as many binary options trading platforms, so you’ll have to look for that elsewhere if that is something you need.
Last but not least, Binomo offers plenty of deposit and withdrawal options for traders. You can use credit cards, bank wires, and even cryptocurrencies. This versatility is a major reason why this platform is favored by a lot of traders. In short, Binomo is one of the better options in the market if you want to get into binary options trading. It has everything you might need in a trading platform, and then some. You can simply open a demo account to try for yourself without having to pay any money.