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Binomo offers its clients trading and investment opportunities through binary options. If you're considering creating a Binomo account or wondering whether Binomo is a scam, here's all you need to know about Binomo, the binary options trading platform.
Exploring Binomo: The Binary Options Trading Platform
Understanding Binomo's Regulations
Before considering which trading platform to invest in, it's crucial to thoroughly examine the regulations of that platform. Each trading platform will have different regulations to protect its customers.
However, in the case of Binomo, there are no regulations or customer protection policies. Established in 2014, Binomo's parent company is based in Cyprus, a country under the supervision of CySEC. Despite this, the brokerage platform lacks any regulations or policies to protect its customers.
Although Binomo is certified by the Financial Market Regulation Center (FMRC), the certification stipulates that if Binomo takes any actions that adversely affect customers' rights, FMRC only has the authority to revoke Binomo's business registration and prohibit its activities, rather than guaranteeing customers' rights.
Customer Support at Binimo
Customers can reach out to Binomo through:
- Email.
- Live chat.
- Submitting an online form.
- Via Skype.
Binomo Account
Binomo offers customers 3 different account types, including:
- Standard Account.
- Gold Account.
- VIP Account (minimum deposit of 1000 USD).
Standard Account:
For this account type, the minimum deposit requirement is 10 USD, providing full functionality of the trading platform, allowing access to various common financial assets with fixed income up to 85%. Additionally, traders can execute investments starting from 1 USD, with no deposit limits, participate in tournaments, and withdraw funds within 3 days.
Gold Account:
The Gold Account requires a significantly higher minimum deposit than the Standard Account, up to 500 USD. This account offers additional features and privileges for traders to enhance their potential income, including expanding the list of tradable assets, profit margin up to 86%, reducing Binomo withdrawal time to 24 hours, analytical support, personal management, weekly 5% cashback, and investment insurance through bonuses.
VIP Account:
To own a VIP Account, a minimum deposit of 1000 USD is required. Binomo promises customers using this account can receive bonuses up to 100%, achieve 87% trading profits, reduce Binomo withdrawal time to just 4 hours, receive online analytical support via Skype, weekly 10% cashback, and a range of exclusive options reserved for VIP account holders.
Some Limitations of Binomo
Notably, the trading platform's homepage does not list any support phone numbers, leading some customers to mistakenly believe it's a scam. Most legitimate trading platforms usually display support phone numbers on their homepage.
Additionally, some reports and feedback from customers indicate that Binomo lacks respect for both current and potential customers, and it seems that customer support on Binomo is not functioning.
Another limitation is the delay when customers execute trades on the Binomo platform. In fact, Binomo's platform is not ready to support customer trading but rather this brokerage platform.
Mytour has just provided you with all the essentials about Binomo, the binary options trading platform. If you've finished your research and decided to choose Binomo, you can also refer to the article on how to play Binomo from basic to advanced. Hopefully, after reading this article, you'll gain more insights into this binary options brokerage platform.
