If you think about trading on the Binomo platform, you should know first how Binomo works. While most other brokers are notorious for huge commission and fees, Binomo is not a platform that charges a lot and leaves small profits to traders. Being one of the most popular trading platforms, Binomo is focused on providing an excellent user experience. Furthermore, it is mobile-friendly, as it has an easy-to-use app that can be downloaded both from the App Store and Google Play.
Service without commissions and fees
It should be noted that opening and closing trade positions to gain a profit is the essence of the trading industry. Binomo guarantees that the trader will not face the necessity to pay commission. Only a few premium trading brokers can refuse to take a commission from all operations. This is because most trading brokers claim that they should also get fees for their mediation services regardless of whether you win or lose. However, this is not a customer-friendly approach as it narrows your profits dramatically.
The trading process on Binomo runs smoothly, so users can rest assured that they will not face unreasonably high commissions and fees. In fact, there are no trading fees at all. The trading commission is the money that is charged when a trade gets opened or closed. Binomo withdrew from the concept of middleman and does not charge this commission. This way it stands out from the other trading platforms.
What Fees Does Binomo Charge?
How Does Binomo Earn Money?
It is a false belief that trading brokers can earn only from obligatory fees and commissions. Obviously, charging traders is an easy way to gain profits, but it is not the only option. Binomo legitimately earns its profits by covering the clients’ trading operations. In other words, Binomo’s approach is to charge a small commission when a trader makes a profit.
Binomo is not a platform that will benefit from your losses. The main idea is that Binomo wants all traders to be successful, so charging commissions when a trader has lost makes no sense for the company. Binomo and traders are on the same team. When a trader suffers a loss, the platform comes to the scene to offer valuable support. The platform provides ongoing customer support, high-quality trade training and special offers. These efforts are aimed at giving traders a better chance to succeed in the future. It is a win-win situation for all parties involved.
Binomo refuses to get fixed charges or variable commissions for opening or closing deals.
What about Account Fees?
It should be also stated that Binomo does not charge any fee associated with opening or closing the account. Modest deposit is not a fee. It is nothing else but the minimum amount that can be used for trading on Binomo. You will find out that Binomo does not take a cent from this deposit. Moreover, this platform has no deposit or withdrawal fees charged.
Withdrawal fee is something you can easily avoid paying. You deposit money on the Binomo account, then you start trading and you make the profit. After some time you can request a withdrawal without any commission being charged. The only condition is that your profit must be twice as big as the deposit. If you deposit money, then you do not perform any trades or you earn just a small amount of money, a fee of 10% will be charged.
The fee in the amount of $10/€10 is charged in case the trader’s account features no activities for 30 consecutive days. The same amount is going to be charged monthly if the account remains dormant. This fee is legitimate to all trading forms and account types.
This article was created to clarify the situation with Binomo’s fees and commissions. For more information, refer to Binomo’s general fees and commissions. If you have any comments on this topic, feel free to ask them in the comments section below.
Wish you a pleasant experience with Binomo!
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