You might have searched far and wide for an extra source of income. Well, you have come to the right place. Before now, the financial market had been largely accessible only offline. Binomo was created to bring these opportunities to every trader from India and other countries. With your smartphone or any other internet-enabled device, and as low as $5, you can begin to trade and use the benefits of the online financial markets.
Some say that it’s too good to be true, that Binomo is a scam. Well, I understand their skepticism. After all, we have been taught all our lives that the only way to get additional income is to work at the second job. Well, I am here to tell you that binomo.com is not a fraud and is indeed really allows you to receive extra funds. What do I mean? Continue reading and you will find out.
Is Binomo real or fake?
No, Binomo is not a scam. It was founded in 2014 by The Dolphin Corp. wiht headquartered in St Vincent and the Grenadines. And its address is in the public domain, on the First Floor of the First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent, and the Grenadines. A shady, fake company would not make its office address public as Binomo has done. And if you want to be extra sure, you can pay a visit to their offices.
Furthermore, you can always check the internet for reviews. Check the comments and reviews under the Binomo app in your App Store or Google Play. Check YouTube and other online media. Some so many people have used the Binomo trading platform and have nothing but accolades for the company.
One of such comments from Brahma Brahmbhatt on YouTube:
“Trading is accessible, exciting, educative and will offer you lots of opportunities if you go into it through the Binomo”.
Is Binomo legal in India?
Yes, it is legal in India. Binomo is duly regulated by the relevant bodies and holds all the necessary to operate in India. So, Binomo has been checked and certified by Verify My Trades. VMT is an independent organization that runs tests to check the fairness of online trading platforms. And as a further testament to Binomo’s fairness, transparency, and general operations standard, it received the FE Award in 2015 and the IAIR Award in 2016.
Why do some say Binomo is a scam?
It is possible that in your search for Binomo reviews, you might find some traders saying Binomo is a fraud. Well, that can’t be true since the majority of its clients have reported testimonies and accolades. However, their complaints are understandable. You can lose deposit on Binomo under certain conditions:
- You do not follow the trading platform rules. You have to be very careful to read the rules before trade. So, if it is found in contravention of any of the trading platform rules, your account will be not allowed to open a new account.
- Our planet is plagued with scammers who want to illegally take over your funds. Binomo stops such actions. The Binomo server has SSL codes and HTTPS protocols that protect financial transactions against information theft and cyber attacks, guaranteeing the traders a safe and reliable platform to make deposits and withdrawals of funds without any inconvenience.
- You begin trade without requisite knowledge and training. It requires some basic knowledge. Binomo recognizes this and has made available several educational opportunities. There is the demo account option for you to trade in real-time without risking real capital. There are also Strategies section on the website, rated from beginner to experienced, and Help Center.
If you choose to real trade (not on a demo account) without gaining the requisite knowledge, you may lose deposit and Binomo will not be liable for your loss. However, depending on your account type, you can receive cashback or insurance on losses, also you may be granted access to a personal manager who will guide you through trading (for Gold and VIP accounts).
Why is Binomo safe and trustworthy?
As we have said earlier, Binomo has a physical address which you can visit yourself. It is also regulated by the International Financial Commission and has a category “A” status. The IFC is an independent organization that regulates the activities of online trading platforms.
The IFC has a Compensation Fund, which allows it to cover up to € 20,000 for claims from various traders to the trading platform. Even if a user does not agree with the response received from Binomo’s user support service, the trader can appeal to the IFC describing the situation presented in the claim form.
Binomo is not a scam or fraud. Binomo has steadily built a reputation over the past 6 years, rendering financial services to traders across 130 countries in the world. No fraudulent company lasts for that long.
However, there is still the risk that you might lose investition. However, with proper training, you can be able to analyze the financial market, forecast correctly and get additional income on Binomo. But, you have to always minimize your risk exposure improving your trading skills.