Binomo offers four types of accounts on the platform: Free (Demo), Standard, Gold, and VIP. However, Binomo VIP and Gold account holders can enjoy more benefits than others. Some of these include cashback, additional assets, insurance, and access to a personal manager. Let’s take a closer look at these benefits.
Cashback
Cashback refers to the amount given to a trader who makes an unproductive week. It is automatically credited to the account every Monday.
So, if you gained a loss in your previous week’s trading activity, you will likely get back a percentage of the amount spent. For Gold status holders, cashback is up to 5% of what they have invested in trades and lost. Binomo VIP account holders get up to 10% cashback on their accounts.
Cashback calculation is as follows:
Cashback = (The total amount of deposits for the week – the total amount of withdrawals for the week – balance amount on Sunday) * 5% (Gold) or 10% (VIP)
Example. On Monday, you deposited $100 into the account. On Thursday, you withdrew $30. On Sunday, you had $25 left in the account balance.
$100 – $30 – $25 = $45
Cashback is applied to this amount.
$45 x 10% = $4.5 will be credited to the VIP account.
45$ x 5% = 2.25$ will be credited to the Gold account.
Additional assets
For owners of a Standard account, there are more than 40 assets for trading. Binomo Gold account holders are entitled to get 13 more additional assets: Qualcomm, Oil, JPMorgan C, Intel, Starbucks, Twitter, Nvidia, GBP/CHF, Weibo, Ferrari, Yum brands, Visa, and USD/DKK.
On the other hand, VIP account holders can enjoy an additional 12 assets: Apple, Meta, Tesla, EUR/HKD, CAD/CHF, GPB/AUD, EUR/CHF, EUR/AUD, CitiGroup, Alibaba, eBay, and Netflix.
The availability of such assets can change throughout the day. They may also not be available on certain days of the week.
Insurance
VIP traders can insure the deposit on their Binomo accounts. Insurance entitles a trader to receive compensation if the amount in the account reaches zero.
The compensation given is dependent on the amount of the investment:
- From $200 to $499 – compensation is 20% of the investment amount in the form of bonus funds.
- From $500 to $999 – compensation is 40% of the investment amount in the form of bonus funds.
- From $1000 to $1999 – 10% of the investment amount will be compensated with real funds or 50% with bonus funds.
- From $2000 and above – 15% of the investment amount will be compensated with real funds or 60% with bonus funds.
The following steps will help you insure the deposit:
- Deposit at least $200 or more in your account. Coupons and bonuses, except risk-free trades, should not be used to make a deposit.
- Contact the personal manager or email them at support@binomo.com. Let them know that you wish to insure your deposit.
- Continue trading as you would typically do. There is no need to wait for confirmation that your insurance request is approved.
- Contact Binomo or your manager to request compensation if your trades are unsuccessful and your balance is reduced to zero. If your trades have resulted, you can withdraw funds without contacting support.
- Request the bonus or real funds as compensation. The form of compensation you can get depends on the amount you have insured. You will also receive 10% of your insured funds in risk-free trades.
Note! A certain % of the amount of insured funds will be provided in the form of risk-free trades or bonus funds.
Personal manager
VIP account holders are way above other Binomo account holders in this aspect. They can make use of personal managers to improve their trading results.
Your personal manager is always in touch and ready to answer your questions about trading on Binomo. It also puts together an individual program for you to accrue bonuses, risk-free deals, and gifts.
Note! Binomo does not provide a personal manager for Gold account holders. It is an exclusive offer for VIP traders only.
Deposit bonus
Binomo Gold and VIP account holders also receive increased deposit bonuses, up to 150% and 200%, respectively. These bonuses increase their trading potential.
Before using them, read the terms for using bonuses. You will not be able to withdraw them until you make a Trading Turnover. Detailed information is specified in par. 8 of the Client Agreement.
How to open Gold and VIP accounts?
Gold and VIP accounts automatically open on Binomo when the total deposit reaches $500 or $1000, respectively. Every trader who makes deposits can open them.
Gold and VIP account benefits such as deposit or cashback bonuses allow traders to increase their efficiency. However, the responsibility for the result of trading always lies with the trader. The risks of losing funds are always present in trading, so you should not forget about strategies, a demo account, and improving your skills.
