How to Start Trading on The Binomo Trading Platform With Kshs. 100

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Welcome to a NEW world of trading.

Binomo is an international online trading platform well known for its simplicity in trade execution and its commitment to low trade requirements.

Unlike all the other trading platforms in the market insisting on at least a $10 deposit to begin trading, you can begin trading in Binomo with only Ksh. 500.

Amazing right? Wait till you see the cherry on the cake.

Company Details

Binomo started operating globally in 2014 with just a few tradable assets. Today though, you can trade hundreds of different assets on Binomo including:

  1. Currencies
  2. Cryptocurrencies
  3. Indices
  4. Stock
  5. And commodities.

Presently, Binimo is a member of FinaCom and is obviously working towards licensing everywhere else in the world.

That plus the fact that Binomo is rated as ‘Category A Member’ under the IFC, gives them additional credibility and it also gives you (the trader) additional confidence that Binomo is a broker to trust.

Binomo, how does it work?

Binomo works the same globally.

The same way you would trade currencies in India with Binomo is the same way you would trade currencies with Binomo in Kenya.

There really is no separate guidebook for each country. So, whether you are reading this post Nigeria, South Africa, Egypt… you name it. This is the same guide you will use to learn how to trade in Binomo.

How to Trade in Binomo. 

Trading in Binomo is easy. Just follow the steps outlined below to get your footing.

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Welcome to a NEW world of trading.
  1. Register.
  2. Use the Binomo quick trading guide to learn how to trade.
  3. Sharpen your skills with the Binomo demo account.
  4. Deposit Kshs. 500 or more to begin trading live.
  5. Use trading Binomo strategies to grow your account.
  6. Apply money management strategies to conserve your capital.
  7. Use trading psychology guides to improve your trading experience.
  8. Withdraw your earnings from Binomo.
  9. Repeat the same cycle to make money online with Binomo.

Register.

In order to start trading on Binomo, you will first need to create an account.

You can either use your email address and password to join Binomo, use a google account to join, or click on the Facebook icon on the registration page to register.

Once you have registered, whether through Facebook, Google, or directly with your email address, log in to your email address to confirm that the address works.

If you do not have an account in Binomo, use the registration form below to join.

2. Use the Binomo quick trading guide to learn how to trade.

After creating an account in Binomo, don’t just start trading. Not yet.

Use the Binomo trading prompts for beginners to learn how to trade.

Speaking of, the first thing you will need to do to place a trade in Binomo is to choose an asset.

  1. Follow the image guide below to learn where the assets are and to see which assets you can trade in Binomo.

Trading in binomo - how to choose an asset

b. Select the account to trade from.

When you register a new account in Binomo, you automatically get a demo account with Kshs. 100,000.

Now, this is FREE money on Binomo but other than using it to practice how to trade, you can not do anything with it. It can not be withdrawn.

To begin trading you will need to choose the account you want to trade from.

Again, the demo account is merely for practice. The live account on the other hand lets you use real cash to trade.

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And if you win on a real/live account, you can withdraw all your earnings to your bank account.

See the image below to learn how to switch from one Binomo account type to the other.

Binomo demo account vs Binomo live account

c. Follow the trend on Binomo to begin earning.

This is the third stage of learning how to place your first trade on Binomo.

Whether you chose a live account or a demo account on the previous stage, your real test here is to now use the chart to spot trends and forecast price changes.

Should you predict that the price of an asset will increase in value in one minute and get that prediction correct, Binomo will credit your account with your trade amount and your winnings.

Should your prediction end up wrong, you will only lose the trade amount.

Which direction is it going to take? Let’s find out.

How ro trade with the trend on Binomo

d. Choose the trade amount.

After picking the anticipated trend direction for prices in Binomo, you now need to choose how much to put on the line for a reward.

The minimum trade amount in Binomo is only Kshs. 100 or $1 if you are using international currency.

This doesn’t however mean that you must trade with $1 for every trade.

If your account size is big enough to accommodate $10 trades and you are comfortable trading with that, go ahead and risk it.

Choosing your trading amount all boils down to how much you have for trading, your risk tolerance levels, and your risk management strategies.

As it is, your trade amount in Binomo can range from Ksh. 100 to Ksh. 100,000. It’s up to you to decide.

Choose the trade amount.

e. Make your forecast.

Now we have chosen our asset to trade, selected the demo account for trading, analyzed the charts and seen its direction, and picked our preferred trading amount.

What’s left is to forecast the direction of the asset. Will it go up or down?

If you are not sure, try to use the majority opinion tool shown below to decide.

To predict that the asset price will rise, up click the green button. To predict that the asset price will fall, click the red button.

Choosing a trading direction on Binomo

Wasn’t that easy? Yes, you just placed your first trade.

3. Sharpen your skills with the Binomo demo account.

Did you win on that first trade? Did you use the live account to trade?

If you traded with the live account and won, good for you. That’s extra cash on your account this month.

Don’t get too excited too fast though, you could lose your next trade.

To reduce the risks of losing real money at this stage when you are just beginning to learn how to trade, I’d recommend that you use the Demo account more than you use the live account.

You can even trade on the demo account for a month before going live.

Consider that period, your period to learn, to come up with your own trading strategies, to analyze the risks, and to see if this is something you want to do for a living.

4. Deposit Kshs. 500 or More to Begin Trading on The Binomo Real Account.

Before making that Ksh. 500 deposit and of course looking back into your trading experience with the demo account, ask yourself, “would Kshs. 500 help me to achieve my trading goals?

Consider your winning rate from the demo account, your risk tolerance, your trading strategies, and your money management strategies.

Do they align with that Kshs 500 deposit?

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If yes, make the deposit to start trading. If not, then use these factors to determine an ideal amount to start trading with then make that deposit.

It is also worth noting that Binomo will give you a +25% deposit bonus for your first deposit.

Binomo deposit bonus

How to Fund Your Binomo Account with Mastercard/Maestro.

  1. Click on the deposit button.
  2. Choose the MasterCard/Maestro payment method. Note that deposits of Kshs. 5,000 and above attract deposit bonuses ranging from 20% to 70%.
  3. Choose the amount to deposit.
  4. Check the bonus option under the deposit amount.
  5. Click on the deposit button to execute the transaction.
  6. Enter your card details correctly then click on pay to finish this process.
  7. Your funds will reflect instantly on Binomo.

How to Fund Your Binomo with AstroPay (Mpesa, Airtel Money, Equitel, Bater, Perfect Money, and Visa).

Fund Binomo with Mpesa, equitel, Visa or perfect money

  1. Click on the deposit button.
  2. Choose the AstroPay payment method. Note that deposits of Kshs. 5,000 and above attract deposit bonuses ranging from 20% to 70%.
  3. Choose the amount to deposit.
  4. Check the bonus option under the deposit amount.
  5. Click on the deposit button to execute the transaction.
  6. Now enter your phone number and continue.
  7. Enter the code sent to your phone and continue.
  8. Choose your preferred payment method from the list of available options including. Mpesa, airtel money, Equitel, Bater, Perfect Money, and Visa.
  9. Use the AstroPay business number and the account number provided to complete Mpesa, Equitel, Airtel Money payments.
  10. Now check your account to confirm the balance.

How to Fund Your Binomo Account with Bitcoin/LTC

  1. Click on the deposit button.
  2. Choose the Bitcoin/LTC payment method. Note that deposits of Kshs. 5,000 and above attract deposit bonuses ranging from 20% to 70%.
  3. Choose the amount to deposit.
  4. Check the bonus option under the deposit amount.
  5. Scroll down to choose if you want to pay with Bitcoin/LTC.
  6. Click on the deposit button to execute the transaction.
  7. Copy the Bitcoin address shown and send Bitcoin to it. Make sure to send enough BTC to cover any coin transaction fees!
  8. Your funds will reflect instantly on Binomo.

5. Use trading Binomo strategies to grow your account.

Remember, we are now trading with a real account. As such, any loss that we make at this level will impact negatively our live account balance.

If you lose on a real account you lose real money.

And how can you trade in Binomo without losing?

Simple. Use trading strategies to place winning trades.

Did you come up with a trading strategy during your first month trading on a demo account?

If you did, and it was giving you success, stick to it.

otherwise, stick to ready-made tools on Binomo to get trading signals.

One such tool is the Binomo chart scanner which has 7 indicators in one to help you choose valuable trading directions.

How the Binomo Chart Scanner Works.

The chart scanner consists of seven moving averages (MAs), based on different calculations and time periods.

Each of these MAs gives an indication of the direction of the trend.

The Chart scanner shows you how many “up,” “down,” and “neutral” signals it received.

The greater the number of identical signals, the stronger the trend and the more likely it is to continue.

Keep this in mind though, indicators can give false signals and that is why it is recommended that you do a mix of all analysis methods when trading.

Binomo trading strategies

6. Apply money management strategies to conserve your capital.

Even with the best of all the strategies that exist in the face of the earth, try not to ever trade without at least one money management strategy.

Some of the best money management strategies to use on Binomo include: –

  1. Martingale trading strategy – involves doubling your trading amount when you lose. Should that doubled trade win, you will make your money with profits.
  2. Parley trading strategy – use your profits to trade on the next trade. If you lose, your trading capital will still remain intact.

7. Use trading psychology guides to improve your trading experience.

There are times when you will trade in Binomo and win so much that you will get tired of winning.

During those times, a creepy feeling well known as overconfidence may creep in on you sometimes making you ignore your trading strategies. Be very careful not to fall too deep for it.

Because much as overconfidence can help you to gain more money trading, it can also lead you to unforeseen losses when everything goes south.

Other than feeling confident, you may also feel the fear of losing the next trade but guess what, you will never know if the next trade would have won if you do not trade.

8. Withdraw your earnings from Binomo.

Of course, after a long day’s work of trading, you will want to analyze your balance and see if you are moving forward.

It is important that after you have won your first profits you try to withdraw to see how easy it is to get your money from Binomo.

Apparently, your withdrawal will take up to 3 business days if you are on a standard account, 24 hours if you are on a Gold account, and up to 4 hours if you are a VIP in Binomo.

Do you want to know the difference between these three accounts? Continue reading.

Note: – You can only withdraw funds to the card or wallet that was used to credit funds to your account.

How to Withdraw Funds From Binomo.

  1. Click on your profile in the top right corner.
  2. Locate the cashier button and click on it.
  3. Click on withdraw funds.
  4. Chose the withdrawal method and the amount to withdraw.
  5. Complete the transaction.

Frequently Asked Questions.

1. What’s the minimum deposit in Binomo?

The minimum deposit in Binomo is only Kshs. 500. However, this will only activate the Binomo standard account which has these limited benefits.

  1. You get 48 assets to trade.
  2. Deposit bonus up to 100%.
  3. Withdrawal takes up to 3 business days.
  4. Up to 85% profitability.
  5. You will enjoy Binomo’s happy hour.
  6. And you can also participate in Binomo tournaments.

Should you make a deposit of Kshs. 50,000 or more you will unlock these additional benefits and the Gold status.

  1. 60 assets to trade.
  2. Withdrawals take up to 24 hours.
  3. The deposit bonus is increased to up to 150%.
  4. You get a 90% return on investment.
  5. You also get cashback together with all the other benefits of the standard account.

Fund your Binomo account with KS100,000.00 and you will get these benefits.

  • Withdrawals are processed in under 4 hours.
  • Deposit bonus up to 200%
  • You can join and participate in VIP tournaments.
  • You get insurance, a personal manager, risk-free trades or bonuses, and up to 73 assets to trade.

2. Can I use my phone to trade on Binomo?

Yes, Binomo is available for both Android and iOS users.

Download Binomo Android.

Download Binomo iOS.

3. How can I contact Binomo?

The easiest way to receive help on Binomo is through live chat.

Click on the question mark at the bottom of the platform to start a live chart.

4. Is it safe to trade on Binomo?

Being an online trading platform that operates globally,

But don’t take my word for it.

Binomo says they have a secure platform with full encryption and that the website has established a high level of safety for over 30 million customers.

Then of course the platform also uses safe and approved payment methods for withdrawals and deposits, further increasing the security for traders like me and you.

And also not to forget that Binomo policy states that customers whose funds are up to the value of $20,000 are protected against fraud when using the platform, and the website uses up-to-date SSL encryption to boost security even further.

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