The Binomo platform is among the leading trading websites. It also comprises brokerage and associated services, such as customer support services, analytics, and training for new users. The platform is related to the Financial Commission. It enables the users to examine the real market scenario accurately and determine the amount of risk while making trades.
The platform has many features that make it a leading company for online trading. The Binomo app reviews speak for themselves, as they score very high for user reviews on the android play store and Apple’s App Store. The article will express a review of the Binomo trading platform, highlighting both its advantages and some of its disadvantages when considering other platforms in the market.
Pros
Customer service
The customer services of Binomo are considered second to none as they are available 24/7 for the traders and have a variety of ways to address their issues. They can be accessed anytime from the website or smartphone-based app in the help section. They can be communicated by live chat, where you can inquire regarding issues live and get quick responses. There is also a FAQ section where the most common issues and their potential fixes are already mentioned to the users. Additionally, you can contact them through email for more complex issues to get a detailed response regarding your problems.
Low deposit and trading limit
You can start very quickly at Binomo since funds requirements are trivial compared to other platforms. You are only required to make a $10 deposit to begin trading on the platform and can invest as low as $1 on your trades. It makes it a perfect platform if you’re starting online trading for the first time.
Demo account
The demo account features are excellent for the new users, allowing them to get to grips with Binomo quickly. They include in-depth tutorial videos for the users, explaining the process and how to start trading. They provide dummy money in the accounts, allowing users to observe charts and make profitable strategies, similar to actual trading.
Cons
Not supported in Europe and America
Although Binome has made a name for itself in the market, it is still unavailable in Europe and America. This is a severe downside of the app, as the traders from these countries cannot do any trades with Binomo.
Lacks social element
Binomo does not support social trading, as your trades and strategies will remain just to yourself. This might not be bad, but it also means you will never be aware of what everyone else is doing in the market, which limits information sharing on the platform, which is very important for new users.
Fewer trading options
The investment opportunities available on Binomo are fewer when compared to most of the other platforms. This is a serious downside of using the platform for experienced traders.
To conclude, the platform provides excellent features for new users. The interface is easy to understand, and the demo features and training are second to none. The limited trading features may be the only real downside, as the hardcore trader may not be fulfilled by the limited trading options available. However, they will be satisfactory for the average user.