MAIN FEATURES OF TRADING
WITH BINOMO BROKER IN SOUTH AFRICA

Options are a fairly new trading instrument. Until 2007, they were available only to banks and major financial companies, but retail traders could not trade them. But then, the Option Clearing Corporation (OCC) decided to allow private investors to access binary options. Any retail broker could integrate them into their platform and they immediately became extremely popular. And it was not surprising as binary options offered a simple, understandable and affordable way of making money. The advantage of binary options is that you can trade any asset — currencies, stocks, commodities, indices. And the tool itself requires a minimum amount of funds to get started, so anyone can use it. Today, we will review Binomo online trading platform and its key benefits. Keep reading to learn what Binomo broker offers to its audience.

This platform was founded in 2014. Binomo belongs to Dolphin Corp, and the main office is located in St. Vincent and the Grenadines. The company realized the necessity of the strong trading platform and in 2015, they launched its own terminal with all the necessary features for full-fledged trading. It allowed the company to build an extensive client base in just a few years and spread its activity to 133 countries. Since May 2018, Binomo has become a Category A member of the International Financial Commission, an independent authority for the settlement of disputes arising in the financial markets.

The high quality of the company's services is proved by the awards "Broker of the Year" (Air Awards 2016) and "Best Broker for Beginners" (Forex Expo Awards 2015). These are short Binomo details, and let's pass on to a review of Binomo.

It will take you several minutes to join the platform. To register at Binomo South Africa, it is enough to indicate the following data:

• E-mail address;
  
• Strong password.
  
  

At this stage, you can also select the desired type of currency — euros, dollars, rubles. After that, you only have to agree to the terms of the agreement. Alternatively, you can log into the Binomo platform through your Facebook or Google network profile or using your Binomo login and password.

After successful completion of the registration, you can immediately fill out your profile, where you will need to provide full information about yourself: date of birth, full name, contact information, preferred withdrawal methods.

This account is for training purposes only, and it is highly recommended for the beginners who make their first steps in trading. The account provides access to virtual $1000. There are no time restrictions for the users and the virtual funds can be easily renewed.

Advantages of a demo account:

• An ideal way to test all the features of the platform free of charge;
  
• Fully refundable virtual money;
  
• Easy access to all functions of the trading terminal, including working tools and educational materials.
  
• The ability to develop and test it in real-life conditions.
  

This real money account is suitable for all types of traders, regardless of their professional level. You will need to deposit $ 10 to activate this account. But in return, you get full access to the trading terminal and all the assets on the platform.

Advantages of a standard account:

• You can trade all popular assets with the profit of up to 90%;
  
• The minimum trade is only $1;
  
• The standard account holders can participate in all tournaments on the platform;
  
• You get access to a generous bonus system that offer additional rewards for account replenishments;
  
• You can resolve all queries with the technical support team.
  

This account requires a $ 500 replenishment. But you get access to a wider list of trading assets.

Advantages of a Gold account:

• The ability to trade 40+ assets;
  
• The money withdrawal period is improved to 24 hours only, depending on the payment channel;
  
• You can receive bonuses of 200% from your deposit amount;
  
• A direct contact with a personal manager;
  
• Investment insurance program;
  
• You get access to a variety of analytical tools and ready-made strategies developed by professional trader;
  
• You can receive a weekly cashback of 5%
  

This account offers a lot of privileges to its holders but you need to deposit $ 1000 to activate it.

Advantages of VIP account:

• VIP clients enjoy bonuses of up to 200%;
  
• All withdrawals are completed within 4 hours, depending on your payment channel;
  
• You have access to more than 60 trading assets;
  
• Investment insurance program;
• You can receive a weekly cashback of 10%.

It is strictly recommended to start your acquaintance with the financial market with a demo account. This approach will protect you from financial risks. Trading on a demo account practically does not differ from real trading, thanks to which the client gains trading experience and will feel more confident when real money is used. You should pass to Binomo real account only when you achieve stable success in a training mode. Otherwise, the losses may be very high. It would be the best if you also use the education materials provided by the broker. You will find them on the site:

FAQ — answers to the most popular questions of traders;

• Glossary of terms;
  
• Useful video tutorials (about registration, trades, etc.).
  
• A separate block with information about strategies.
  

Let us review the Binomo trading terminal. If during the first year of broker operation, platform Binomo was not rated very high, then today the company has considerably progressed in this respect. The broker has created its proprietary terminal which does not need to be downloaded as it works online. Although the platform looks very simple, it has a lot powerful features according to Binomo trade review reports:

The terminal operates at a fairly high speed in operation (transactions are performed literally in seconds) and absolute stability. You can be sure you will not face slippage or various kinds of software pitfalls while trading.

The platform offers a set of indicators and includes a variety of technical means that are most optimal for work on the financial markets;

• There is a function that allows you to view the history of quotes and change the scale of the graphical image. This type of service is very convenient, since it can be used to apply strategies based on technical analysis and carry out testing.
  
• The list of main assets contains more than 60 items. Including stock markets, which are the most unique for Binomo, because thanks to them, binary options are recognized as an alternative way of investing in securities of especially large organizations.
  
• The terminal provides fairly accurate data on quotes.
  
  

The entire trading process is carried out non-stop which contributes to Binomo rating. Thus, a trader has the ability to execute a different number of transactions simultaneously using different assets.

All of the fundamentals are covered in the app, and while the desktop platform may be required for more in-depth research and finer details, having your trades in your pocket has value.

The Binomo app is precisely designed to match the Binomo desktop interface, giving a seamless experience for individuals who want to switch between the two at their leisure.

There are following types of options on the platform:

• Binary options. This trading instrument works with the higher/lower principle. It is possible to obtain a profit when the direction of the asset price is correctly predicted within certain periods of time. The profitability of binary trading in South Africa is up to 92% with an expiration time of up to 12 hours.
• Pair options. The main principle of this options type is determining the change in the value of one asset in relation to another. With the help of this trading instrument, it is possible to get up to 92% of the profit per trade within up to 12 hours of the contract duration.
• Long-term options. These are transactions to increase / decrease the price of an asset with expiration dates up to 1 year and a profitability of up to 92%. Well suited for traders who do not have the opportunity to constantly work with terminal.
• 60 seconds. These options are used in high-frequency trading. The expiration period of these options does not exceed 300 seconds, and the profitability reaches 70% -92%.
• One touch options. These are instruments with a predetermined strike level, which, in order to make a profit, must be touched by the asset price. Binomo broker review sites inform that this type of options can be traded on weekends, and its profitability reaches 650%.
• Ladder options. They come with 4 set price strikes. The task of the trader is to correctly determine the duration of the price movement and its direction. The profitability of this binary option type reaches a record 1150% per trade, and the expiration period does not exceed 2 hours.

Binomo customer reviews prove the broker is very attentive to issues related to the convenience of work and comfort of traders. Customer support team works around the clock, 7 days a week. This setup is very convenient since some types of options are available for trading even on weekends and Binomo feedback may be required at any moment. You can get help in the following way:

• Send a request using a special form available on the official website of the broker;
  
• Sent an email to support@binomo.com;
  
• Use a hotline 8-800-555-71-85 (it works on weekdays only);
  
• Find an operator on Skype at "support.binomo".
  
  

You can also use an online chat, and it is the fastest channel according to the latest review on Binomo.

We tried to cover all the strong aspects of the broker in this Binomo review. As you can summarize, all comments that Binomo is fake are groundless. And you will make the right choice to trade binary options on the official Binomo website. This company rightfully occupies the top lines in the ratings of brokerage companies, which is explained by very loyal trading conditions. They include the minimum requirements for entering the market, a functional and convenient trading terminal, excellent support, fast processing of Binomo funds and many other favorable conditions that cannot be found in other brokerage companies. That is why Binomo can be safely recommended to both beginners and experienced traders.