The recent spike in interest in online trading among Filipinos is enough to prompt international trading platforms to spotlight the country as a target market. While the competition among market players illustrates the country’s dynamic business landscape, traders in the Philippines face a confusing challenge in terms of platform reliability. It is therefore imperative to take a close look at what a trading platform can offer in terms of security and credibility.
One of the platforms that Manila Bulletin has had the chance to engage with is Binomo. In an email interview with David Clark, APAC Managing Director of Binomo, the online trading platform gave us an insight into how its platform works and some information on the global financial outlook.
The legitimacy and reliability of Binomo
Founded in 2014, Binomo is currently regulated by the International Financial Commission (IFC). It is also certified by Verify My Trade (VMT), an organization that certifies the quality of transactions made on the platform.
Binomo is present in more than 130 countries for a good reason. It is a smart trading platform with a user-friendly and simple interface that cares about the interests of its users. With over 20 million users worldwide, the user-friendly platform is used not only by seasoned traders, but also by beginners looking to break into the market. The training material is available on the website and on the YouTube channel. Its FAQs and Help Center are also useful resources for any budding trader.
“As an IFC Category A member since 2018 and a Verify My Trade certified platform, Binomo has voluntarily undergone an audit of 5,000 trades in the last month alone to prove their quality,” Clark said.
Binomo: a trading platform for experts and beginners
An additional stream of income is definitely one of the main reasons Filipinos are venturing into e-commerce. For many experts, navigating the Binomo platform can be a walk in the park. But what about beginners in trading?
As an online investment platform, Binomo prides itself on being a platform that accommodates both trading experts and beginners.
According to Clark, Binomo pays particular attention to beginners. The platform provides detailed training materials such as step-by-step video tutorials on how to trade, a Strategy section, a glossary, a demo account and a “Daily Free” free tournament to learn and improve the skills of traders. tradespeople.
“As traders gain experience, they can try their hand at real trading for as little as $10, which is the minimum deposit to upgrade to a Standard account. Of course, this is an initial account with a limited number of benefits, the higher the status of the account, the more benefits will be granted,” added Clark.
VIP clients get the maximum benefits for trading, such as a personal manager, the ability to conclude transactions without risk, more than 70 assets for trading, deposit bonuses up to 200%, VIP tournaments , quick withdrawals and more.
For Filipino users, they will get a demo account and Php500 upon registration. Before getting into actual trading, beginners can use the demo account to practice and hone their trading skills in a safe environment. There are four types of accounts: Demo, Standard, Gold and VIP. Traders will have access to more tools, bonuses and benefits as their accounts progress.
What makes Binomo unique?
A number of factors set Binomo apart from other market players. These are:
Modern and intuitive interface with a variety of trading tools.
Low commercial entry threshold. The minimum deposit is $10 and opening a trade starts from $1.
Free training, including a section with turn-by-turn strategies and an economic calendar.
Unique FTT mechanics. Trading with a short expiry time of 1 to 60 minutes.
Automatic verification service – the process takes several minutes and helps protect accounts from fraudsters.
Cooperation with reliable payment systems, including local ones.
No fees for trading, depositing or withdrawing funds.
24/7 support in different languages
FTT or Fixed Time Trading is a modern trading mechanism known for its clarity and availability. Thanks to FTT, traders can obtain additional income from the slightest changes in the price of an asset and, of course, with the correct forecasts.
In short, traders can choose an asset, set the trade amount, the time it ends, forecast the asset’s price to rise or fall, and wait. If the predictions are correct, traders get up to 85-90% of the transaction amount; incorrect – traders lose their investment.
A room for professional investors
Binomo is not just for seasoned traders and beginners. It is also available for traders with different levels of experience. Certainly, professional investors exist among a pool of Filipino traders; as such, Binomo also offers key benefits that they can take advantage of. These include:
Multiple types of trading assets such as currency pairs, gold, indices, etc.
Many adjustable charting analysis tools like indicators, charting tools, viewing harmony trading patterns, etc.
VIP status with its benefits for better performance.
Exceptional benefits available to VIP traders include up to 300% deposit bonus.
Premium tournaments are high level closed competitions for the best traders with valuable rewards.
Trading tips from the pros
On its platform, traders are referred to as Binomist. Binomo believes that with the right tools and leeway to hone their trading skills, anyone can be a trader, especially a Binomial.
“Anyone can be a pair: your friend, your colleague or your neighbor. They are united by one thing – it is the desire to achieve their goals in trading. Pairs do not rely on chance. They profit every opportunity to improve their trading skills, for example by learning new strategies, practicing on a demo account and participating in tournaments.The pairs understand that this path will help them achieve results in trading. They also understand the full value of the benefits of the VIP account, which we talked about above, and try to quickly get through it. It is not surprising that sometimes the concept of a pair and a VIP trader is perceived as a synonym,” Clark explained.
Although the trade looks financially promising, Binomo claims that good results are the product of consistent training. “It should be understood that trading involves the risk of losing funds, like any investment transaction. To reduce this risk, traders need to improve their trading knowledge and skills, use financial instruments, analyze market movements to forecast correctly,” Clark said.
The good news is that Binomo offers a lot of useful tools – and free of charge! – information on trading, a demo account for any experimentation, testing strategies and improving your skills, as well as any help in understanding how the platform works. Thus, anyone who is not a professional in the financial market can obtain additional income with some effort.
The platform also provides an affiliate program where an investor gets extra income by attracting referrals to the platform. In this case, you do not need to trade yourself.
Binomo Financial Forecast for 2022
Our interview with Binomo also gave us the opportunity to talk about their global financial outlook this year.
“Events in China, the United States or the Middle East can instantly affect the results of investors anywhere in the world, as the market is global and always volatile. And it would be better if you kept that in mind.
However, the market is recovering quickly like a living creature, and almost all stocks and indices are bullish, not bearish. And while economists predict market pressure from inflation and supply shortages in 2022, the economy will recover and we will see above-average growth in equities.
Bank of America takes a different view, predicting a mildly negative year for equities on heightened concerns about frenetic IPO activity, liquidity risks, negative real interest rates and rising inflation.
Thus, Binomo’s financial predictions for this year are as follows: don’t ignore the labor market situation as it affects all currency pairs. Interest rates, political and jurisdictional decisions of countries with the largest economies are also of concern.
In this scenario, you should pay attention to the stocks of companies related to services and high technology, as well as gold and oil. Investors trading long-term high-tech assets need to be more careful. Some analysts note many similarities between current market conditions and 1999-2000, when the dot-com crashed,” Clark concluded.
Binomo is a free website and mobile app for Android and iOS users.
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