Binomo Review - Binary Options in New Zealand
Regulation and financial security with Binomo, New Zealand
The activities of Binomo are regulated by the national non-governmental supervisory authority — the Financial Market Relations Regulation Center. The company confirms its FMRRC license of which the company confirms annually. In addition, the funds of the broker’s clients are insured by the regulator’s compensation fund in case of bankruptcy of the company, therefore the traders using the company’s website don’t need to worry about the safety of their investments. The website of the company, as well as its trading platform, also have a high level of protection — all financial transactions are carried out in the areas protected by modern SSL security protocols, the funds of the brokerage clients are not subject to hacker attacks.
In fact, Binomo’s terminal was the first trading software developed by the company itself, and contrary to the threadbare SpotOption, it surprised traders with technical tools and multi-functionality. The platform features:
- Technical services of market analysis: indicators and graphics tools
- Universal expiration time range that starts from 1 minute and expands in steps up to 24 hours
- High-speed transaction execution technology (1.7ms)
- Large-format trading chart with functions of scaling, switching between types of quotations display, change of timeframes, illumination of the chart, price history
- Non-stop trading mode that allows one to enter into transactions without waiting for the open option to be completed
Binomo’s trading terms
The broker has created a very democratic trading environment, giving customers access to the market with minimal investment. Participation in financial trading is available even to the segment of the Internet audience who can only afford the lowest investment. Along with the affordable trading conditions, the broker provides a generous yield of options, as well as the possibility of weekly compensations for a certain amount of losses:
- The minimum deposit is 10 dollars
- The minimum option price is 1 dollar
- Profitability of contracts is up to 90%
- Reimbursement of losses is up to 10% per week
The broker’s platform features more than 50 basic assets, including various “representatives” of the forex, stock and commodity markets. The trading tools of the website include:
- the most popular currency pairs
- shares of well-known companies
- commodity assets
Types of options
The company has two main types of options — the classic and short-term options (turbo options), that is, there are no exotic super-profitable types of contracts. The logic is simple — a trader can earn much more with the classical contract types and standard risk levels.
It is worth noting that a registered customer automatically gets access to the demo account — a novice player can get acquainted with the work of the trading platform even before replenishing the balance of his trading account.
The company’s customers are given a choice of four trading accounts that provide access to various technical and related services, depending on the amount of initial investment:
Demo account — the type of account that is created for conducting training operations at the broker’s website. The company provides a virtual amount of funds of 1000 USD or 50 000 rubles, access to the main trading terminal and technical tools. The training account can be used for an unlimited amount of time, and the amount of virtual funds can be renewed an infinite number of times.
Standard account has a deposit threshold of $10. In the standard account, the following options are provided:
- an entire toolkit of the platform
- basic assets with payments up to 85% of the profit
- related website services
- withdrawal of funds within 3 days
- general technical support
The GOLD account is created for an investor who replenishes the deposit from $ 500. Golden type provides access to the following services:
- Larger choice of assets
- Yield on transactions up to 86%
- Bonus insurance
- Weekly cashback up to 5%
- Monetization of profits within a day
- Personal manager
The VIP account is opened to clients who have replenished the balance with $1000 or more. The account provides the following set of options:
- Fullest arsenal of assets
- Fixed liquidity of 87%
- Weekly cashback of 10%
- Individual trading conditions
- Withdrawal within 4 hours
- Personal analyst
Binomo Bonus Program
- Standard offers
The clients receive excellent bonus offers that stimulate trading activity among the players. The amount of bonuses is calculated commensurate with the volume of the deposit, thus the trader increases the initial capital even before starting the trading. Once that trader increases the amount of operating funds he can conclude larger trading operations and gain weightier profits.
The broker holds regular competitions and tournaments with generous prize funds — very decent rewards to most successful traders among the players of the platform. Even the demo account holders can participate in tournaments — in a special weekly tournament winners receive real money that can be used to start real trading:
Also, the broker regularly hosts various amusing events, which allow using additional goodies such as increased insurance of funds, an increased amount of bonuses, free options and other beneficial offers.
Training in the company
The most favorable conditions for starting trading have been created for novice traders — Binomo broker provides a high quality training program that allows growing from a “green” beginner into a professional trader. Systematic step-by-step training is based on the following:
- Knowledge bases — professional forex terminology
- Interactive textbook — online manual explaining the essence of binary options trading
- Set of trading strategies
- Webinars — online lectures with two-way communication
- Step by step instructions
- Video tutorials — dynamic examples of trade and application of trade strategies
Banking and payment services
The broker provides a convenient service of depositing/withdrawing money through the most popular payment systems:
- Bank cards:
- Electronic purses:
WebMoney, Neteller, Qiwi, Yandex.Money
The money is credited instantly, and the withdrawal period is determined by the type of the account — from 4 hours to 3 days. The withdrawal of funds should be made using the same payment system and account details that were used for depositing. The trader who decides to change his account details undergoes additional verification.
The company does not impose any fees when crediting or withdrawing funds. The only commission that a trader can encounter is the commission of the trading system he uses.
Customer support is provided in 24/5 mode by qualified specialists.
Advantages and disadvantages of the company
- License from a financial regulator and high level of security
- High-tech platform
- Increased profitability of transactions
- Democratic financial requirements
- HIgh-quality services
- Lack of “exotic” options
Conclusions about Binomo
Binomo company can be considered an “advanced” operator, which, along with high quality of services, provides trading terms available to any newcomer. Strict regulation, company’s own technically perfect platform, a variety of products of the bonus program and the education system make the Binomo broker the best option for both the novice trader and experienced professionals for trading binary options in New Zealand.
- Official site — https://binomo.com/en
- Launch date — 2014
- Regulated by FMRRC
- Platform — company’s own professional design
- Available languages — Russian, English, Portuguese, Chinese, Vietnamese, Spanish, Indonesian, Malay, Thai
- The minimum deposit is 10USD.
- Bonus — up to 75%
- The minimum contract is 1USD
- Profitability of contracts — up to 90%
- Types of options — classic, turbo
- Account currency — USD, EUR, RUB
- Deposit/Withdrawal — Visa/MasterCard, WebMoney, Neteller, Qiwi, Yandex.Money
- Demo account — yes
- Trading tools — indicators, graphics services
- Assets — over 50 items
- Return on investment — yes
- Social trading — no
- Trading signals — no
- Personal account manager — yes
- Live support chat — yes
- Analytics — no
- Training — high-quality teaching program
- Mobile trading — yes
- Withdrawal of funds — within 4 hours to 3 days
Binomo is a professionally licensed broker who has committed itself to innovation and development, constantly upgrading its product, since its very appearance in the financial environment. Today, the broker provides a quality set of services for the efficient trading of binary options. Trade safety, high-tech trading software, affordable trading conditions, high yield options, quality training for novice investors, diverse bonus program, the convenience of trading — traders can enjoy all this, and even more, on the web platform of the broker Binomo. Hence Binomo is one of the most recommended binary options broker for New Zealand traders.