How to register a Binomo account and trade CFDs

Binomo is one of the most popular trading platforms in the world, used in over 130 countries. If you want to join millions of traders, the first thing you need to do is create an account. Read on to find out how to register on the platform in various ways and how to start trading with CFDs.

Register with an email

Here is a step-by-step guide on how to open a Binomo account through email:

1. Enter www.binomo.com on the web.
2. Click on the “Sign-in” button in the upper-right corner.
3. Enter your email address and come up with a secure password.
4. Carefully select the currency you want to trade in. Note that it cannot be changed after registration on Binomo.
5. Go through the terms of services carefully and check the box to agree. Do not skip this step, as breaking the rules may result in your account being banned.
6. Click “Create Account”, and after a while, you will receive an email asking you to confirm your address. Follow the link inside it to complete the sign-up process on Binomo.

You can now sign in to the platform using your email id and start trading training on the Binomo demo account or switch to a real one immediately.

Register with a Facebook account

You can also sign up for Binomo through your Facebook account, and here is how to do this:

1. After clicking “Sign-in”, push the Facebook icon.
2. In the window that opens, enter your email and password to access the social network.
3. Click “Login” and grant the trading platform access to your name, email address, and profile picture.

You will be automatically redirected to Binomo, and the registration process will be complete.

Register with a Google account

There is also an option to use a Gmail id to sign up for Binomo. You only need to follow three simple steps:

1. Find the Google icon on the Binomo registration form and click on it.
2. In the pop-up window, enter the email address associated with the account and click “Next”.
3. Specify the password, and you will be automatically taken to the Binomo demo account.

You can now sign in instantly by clicking on the Google icon to practice on a Binomo demo account or dive into real trading.

How to register on the Binomo iOS mobile platform?

You may download the official Binomo mobile app from the App Store if you own an iOS device. The mobile software is easy to navigate and offers the convenience of trading on the go.

The registration panel will automatically open on the first visit to the Binomo app. The process is similar to the web version: just enter an email and password, select a currency, read and agree to the Binomo terms and click the Sign-up button. If you have already created an account on the Binomo website, just sign in to the app with your ID.

How to register on the Binomo Android mobile platform?

Binomo also has an application for Android users that you can download from the Google Play Store, Galaxy Store, Apptoko, AppGallery, and Aptoide. Unlike the website, it does not require high internet speed to work.

To sign up for the Binomo platform through any Android device, follow the simple steps above. If you have any difficulties with the registration process, you can always write to support@binomo.com.

How to register on the Binomo mobile web version?

The mobile web version of Binomo is not an app. You can trade by accessing the platform through a browser on your phone/tablet. The Binomo platform allows you to choose where to trade. You can use the web or mobile version or switch between them. To sign up for Binomo, you should repeat the steps described above: enter your email and password, select a currency, check the “Client Agreement” box and click “Create an account”.

Frequently Asked Questions (FAQ)

Let’s cover the questions that new traders often ask about the registration process on Binomo.

Can relatives register on the site and trade from the same device?

Members of the same household must create and use different accounts to trade on Binomo. The platform also should be accessed via separate IP addresses and devices.

Note! Binomo terms prohibit a trader from creating more than one account.

In which countries does Binomo not provide services?

Users from the following countries cannot create an account on Binomo and use the services of the trading platform: Canada, North Korea, USA, Belarus, Australia, Belgium, Croatia, Bulgaria, the Czech Republic, etc. A complete list is provided in paragraph 10.2 of the Binomo Client Agreement.

Want to register a new account, but always get back into the old one

Before creating a new account, you must block the existing one. Only then will you be able to create a new account without violating the Binomo rules.

Note! You cannot use the email used to sign up for a blocked Binomo account. To create a new one, you need to specify a different address.

Why should I confirm the email?

After completing registration on the Binomo website or app, you will be asked to confirm your email. Think of email confirmation not as the platform requirement but as a benefit for yourself:

• The account will be safe from unauthorized persons and scammers. With a verified address, you can also contact the support team, recover your password and even block the account.
• You will receive emails with exclusive educational materials, including expert commentary, strategies, and trading tips.
• You will always be up to date with promotions by receiving notifications about competitions and new bonuses, including promo codes.

Email confirmation

Approximately five minutes after the registration process is completed, Binomo sends an email with a link to verify the address. If you have not received it, request the manager to send another by writing at support@binomo.com. However, before getting in touch with support, check your spam folders.

How to confirm an email if it was entered incorrectly?

If you accidentally entered an incorrect email id when signing up on Binomo, go to the “Profile” section, add a valid email to replace the wrong one, and select the “Confirm” button.

The system will then immediately send a confirmation email to your new address. On the platform, you will see a notification about the sending, and you can also request the letter again if you suddenly have not received it.

All about trading with CFDs on the Binomo platform

Trading with CFDs is becoming more popular not only among expert traders but also among novices. This article will guide you through the step-by-step process of how to trade CFD in Binomo, teach you how to calculate potential income and losses, and answer frequently asked questions from Binomo traders.

What is CFD?

CFD stands for Contract For Difference. It is a trading mechanic that allows getting additional income on the difference between the buy and the sell prices of an asset. The CFD value does not consider an asset’s underlying value: only the price change between entering and exiting a trade.

The purpose of the trading mechanics on Binomo is to forecast whether the asset price will go UP or DOWN and, if it is correct, earn extra income. Its size is determined by the difference between the opening and the closing price of an asset.

How to trade CFD in Binomo?

CFD mechanics are understandable even for those who have not traded before. Just follow these simple steps:

1. Go to the website www.binomo.com, and register with your email address or Google/Facebook account.
2. Log into your demo account. Note that CFD trading is not possible on a real Binomo account.
   
3. Click the “+” in the left corner, and select the desired asset in the “CFD” section.
   
4. Specify the trade amount (from $1 to $1000).
5. Set the multiplier (available options are 1, 2, 3, 4, 5, and 10).
6. Forecast the asset price movement by clicking the up or down arrow.
7. Click the “Trade” button.
   
8. Follow your trade in the “Trades” section.
9. Close the trade at the desired time by clicking “Close”.

Note! If you do not close the trade manually, it will automatically close 15 days after opening.

How to calculate profit and loss?

Income and loss on CFD trade at Binomo are calculated using the following formula:

Investment x multiplier x [(closing price / opening price) – 1]

The profitability of CFD trades depends on fluctuations in the prices of buying and selling an asset, or more precisely, on the difference between them. If the closing price is higher than the opening one, you will get additional income. If the opposite happens, you will lose the funds invested in the trade.

Note! The maximum loss on CFD trade reaches 95%.

Frequently Asked Questions (FAQ)

To better understand CFD mechanics, let’s break down some of the most frequently asked questions from Binomo traders.

Why are CFD trades closed after 15 days?

Since CFD is available only on a demo account, Binomo decided that 15 days is the optimal time to understand the mechanics and find effective strategies.

If you need the trade to stay open longer than this period, consider auto-closing. After that, you can open a new trade with the same conditions.

Why can I only trade CFD on the Binomo demo account?

CFD mechanics are new to the platform and is currently being developed. It is available on the Binomo demo account so that you can familiarize yourself with it and test various strategies without risking your funds.

Note! Follow the Binomo news to be the first to know when it will be possible to trade CFD on real accounts.

What is a multiplier?

A multiplier is a number by which your initial investment in CFD is multiplied. The Binomo platform offers five variants, i.e., 1, 2, 3, 5, and 10.

Multiplier allows you to trade with a much bigger amount than you deposited and get more additional income. Suppose your initial investment in CFD was $50, and you selected a multiplier of 2. This way, you’re trading with a budget of $100, and total profitability will be calculated based on this increased amount.

Why is the commission charged on CFD, and how is it calculated?

A commission is charged for trading with CFDs, but it does not require real funds and is deducted from the Binomo demo account. The fee was added for a more detailed imitation of real trading. Commission calculation allows beginner CFD traders to master money management principles, which are important for mechanics.

The commission is fixed at 0.02% of the trade volume, which can be calculated using the following formula:

Investment x multiplier

To determine the commission’s size, you need to multiply the trade volume by 0.02%. For example, if an investment of $50 is made with a multiplier of 2, the commission will be 50 x 2 x 0.02% = $0.02.

How to calculate the profit and loss on a CFD trade?

Binomo stipulates specific formula to calculate profit and loss on a CFD trade:

Investment x multiplier x [(closing price / opening price) – 1]

Suppose your investment in CFD on Binomo is $100, and you set a multiplier of 3. This makes you eligible to trade with a budget of $3000, and profitability will also be based on this number. Let’s assume that when you started the trade, the asset’s price was $10,000; when you closed the trade, it stood at $15,000.

Plug these numbers into the formula:

100 x 3 x [(15,000/10,000) – 1] = 300 x (1.5 – 1) = $150

So, you received an additional income of $150. The primary reason for this was an increase in the asset’s closing price compared to its opening price. Had vice versa happened, that would have resulted in a loss.