Binomo is a platform for investment and trading online. Some people have questions such as “Is it a scam or legit?”. Reading this review you will get clear answers on whether Binomo is safe or not including the information about certificates.
Is Binomo a scam or not?
Asides from having a solid work experience since 2014, the platform has been a member of the Finance Commission since 2018. It is a dedicated international organization that provides a guarantee for traders who may have a dispute with Binomo.
The fact that Binomo is not a scam is also confirmed by a voluntary audit by Verify My Trade (VMT). The specialized organization checks 5.000 executed trades monthly.
Regulation and certificates
Based on the VMT checks, the platform received a certificate of quality of trades. Binomo also has certificate proving membership and regulation by The Financial Commission. You can view it on this official site: https://financialcommission.org/binomo/.
If there are disagreements about terms on how the Binomo platform works, users are always advised to contact the Help Centre within 30 days of the occurrence of that issue. In cases where the customer is still aggrieved, they can appeal to The Financial Commission which provides compensation for up to €20,000. This fact makes it near impossible to accuse Binomo of fraud.
How to set up 2FA
Enabling two-factor authentication (2FA) on your Binomo account is a simple but powerful step toward enhancing the security of your trading activities. By following the instructions below, you can protect your account from unauthorized access and potential hacking attempts.
- Download a Two-Factor Authentication App
Before you can set up 2FA on Binomo, you need to download a trusted Two-Factor Authentication app on your mobile device. Some popular options include Google Authenticator and Authy. Visit your device’s app store and search for the one that suits your preference.
- Install and Set Up the Authentication App
Once you have downloaded the app, install it on your device. Open the app and follow the on-screen instructions to set it up. Typically, you must create an account and verify your identity using your phone number or email.
- Open Binomo and Navigate to Security Settings
Launch the Binomo app or visit the website and log in to your account. Once logged in, navigate to the account settings and click the “Set up 2FA” button.
- Scan the QR Code and Add your Binomo account
Open your Two-Factor Authentication app on your mobile device and click on the option to add a new account. You will be prompted to scan a QR code or enter the provided code manually. Choose the appropriate option and follow the instructions on the screen.
- Verify the Authentication App
Once you have scanned the QR code or entered the code, the Two-Factor Authentication app will generate a unique code for your Binomo account. Enter this code in the designated field on the Binomo website or app to verify the setup.
- Backup Your Recovery Codes
It’s crucial to back up your recovery codes in case you lose your mobile device or switch to a new one. Many apps provide a backup option, such as saving the codes to your cloud storage or printing them. Follow the app’s instructions to ensure you have a backup in a secure location.
- Test the Two-Factor Authentication
To ensure everything is set up correctly, log out of your Binomo account and attempt to log back in. After entering your username and password, you will be prompted to enter the Two-Factor Authentication code generated by the app on your mobile device. Enter the code and proceed to access your account.
Congratulations! You have successfully set up Two-Factor Authentication on your Binomo account. With this added layer of security, you can have peace of mind knowing that your account is better protected against unauthorized access.
Trading Platform Awards
If you are still not sure if investment and trading platform is real or fake it will be useful for you to know that Binomo was given the following awards:
- Best platform for beginners (2015 FE Awards).
- Platform of the Year (2016 IAIR Awards).
Is Binomo investment legit?
Binomo is a legal company which is registered in accordance with the laws of St. Vincent and Grenadines. It operates in at least 130 countries including India, Pakistan and South Africa. It is available for beginner and proficient users looking to start trading or increase their trading skills.
The main reasons for the popularity of the Binomo platform:
- A free demo account of virtual $10000 with access to 30+ assets in different classes.
- In addition to a demo account, there are 3 more types of accounts: Standard, Gold, and VIP. The higher your status, then more benefits you get. More details are on the Binomo website or app.
- Minimum deposit is $10 and a minimum trade amount is only $1.
The reliability of Binomo is also powered by cooperation with globally recognized payment services such as bank cards and e-wallets (Skrill, Advcash, etc). These partnerships demonstrate once again that investment in Binomo is legit and real.
Binomo is safe
We hope this review has provided to you that there is no reason to think that trading on binomo.com is illegal. The platform is regulated by independent international organisations, that means it’s safe, and not a scam or fake.
However, trading carries with it some elements of risk. Users should be aware that Binomo doesn’t offer financial advice in any form. The platform also doesn’t provide any guarantees that you won’t lose your invested funds totally or partly. Before making trades with real funds you should complete training and practice on a demo account, learn to read charts and analyze the market.