The recent spike of interest in online trading among Filipinos is enough to lure international trading platforms to cast limelight on the country as a focus market. While competition among market players exhibits the country’s vibrant trading landscape, Filipino traders face a confusing challenge in terms of the platforms’ trustworthiness. It is imperative, therefore, to look closely into what a trading platform can offer in terms of security and credibility.

One of the platforms that Manila Bulletin had a 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 inside look at how their platform works and some insights on the global financial outlook.

Binomo’s Legitimacy and Trustworthiness

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 trades performed on the platform.

Binomo is present in over 130 countries for a good reason. It is an intelligent trading platform with a friendly and straightforward 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. Training materials are available on the website and on the YouTube channel. Its FAQs and Help Center are also useful resources for any aspiring trader.

“As both a Category A member of the IFC since 2018 and a Verify My Trade certified platform, Binomo voluntarily underwent an audit of 5,000 trades in the last month alone to prove their quality,” said Clark.

Binomo: A Trading Platform for the Experts and Newbies

An additional income stream is certainly one of the biggest reasons why Filipinos venture into online trading. For many experts, navigating Binomo’s platform may be a walk in the park. But what about the newbies at trading?

As an online investment platform, Binomo prides itself as a platform that welcomes both trading experts and beginners.

According to Clark, Binomo gives beginners special attention. 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 free tournament “Daily Free” to learn and improve traders’ skills.

“As traders gain experience, they can try their hand at real trading for as little as $10, which is the minimum deposit to switch to a Standard account. Of course, this is an initial account with a limited number of benefits. The higher the account status, the more benefits will be given,” added Clark.

VIP clients get the maximum advantages for trading such as a personal manager, the ability to enter into risk-free trades, more than 70 assets for trading, up to 200% deposit bonuses, VIP tournaments, quick withdrawals and more.

For Filipino users, they will be given a demo account and Php500 upon registration. Before moving on to 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 gain access to more tools, bonuses, and benefits as their accounts progress.

What Makes Binomo Unique?

There are a number of factors that set Binomo apart from the rest of the market players. These are:

Modern and intuitive interface with a variety of trading tools.

Low trade entry threshold. The minimum deposit is $10, and the opening of a trade starts from $1.

Free training, including a section with turn-by-turn strategies and an economic calendar.

Unique mechanics FTT. Trading with a short expiration time from 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.

Support 24/7 in different languages

FTT or Fixed Time Trading is a modern trading mechanic known for its clarity and availability. Thanks to FTT, traders can get additional income from the slightest changes in the price of an asset and, of course, with the correct forecast.

In short, traders can choose an asset, set the amount of the trade, the time it ends, forecast the rise, or fall in the asset's price, and wait. If the forecast is correct, traders get up to 85-90% of the trade 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 provides key benefits that they can enjoy. These include:

Several types of trading assets such as currency pairs, gold, indices, etc.

Many adjustable chart analysis tools such as indicators, graphic tools, visualization of harmony trading patterns, and others.

VIP status with its advantages for better performance.

Exceptional benefits available to VIP traders include up to 300% deposit bonuses.

Premium tournaments are high-level closed contests for the best traders with valuable rewards.

Pro Tips on Trading

On its platform, traders are called Binomist. Binomo believes that given the right tools and a room to hone trading skills, anyone can be a trader – in particular, a Binomist.

“Anyone can be a Binomist: your friend, colleague, or neighbor. They are united by one thing – it is the desire to achieve their goals in trading. Binomists are not relying on chance. They use every opportunity to improve their trading skills such as learning new strategies, practicing on a demo account, and participating in tournaments. Binomists understand that this path will help them achieve results in trading. They also understand the total value of the benefits of the VIP account, which we talked about above, and try to switch to it quickly. It is not surprising that sometimes the concept of a Binomist and a VIP trader is perceived as synonymous,” explained Clark.

While trading sounds financially promising, Binomo asserts that good results are products of consistent training. “One must understand that trading involves the risk of losing funds, just like any investment transaction. To reduce this risk, traders need to improve their knowledge and trading skills, use financial instruments, analyze market movements to forecast correctly,” said Clark.

The good news is, Binomo offers many useful – and free! – information about trading, a demo account for any experimentation, testing strategies and improving skills, as well as any help in understanding how the platform works. Thus, anyone who is not a professional in the financial market can get additional income with some effort.

The platform also provides an affiliate program where an investor gets additional income from attracting referrals to the platform. In this case, you don't need to trade yourself.

Binomo’s Financial Forecast for 2022

Our interview with Binomo also gave us an opportunity to talk about their global financial outlook this year.

“Events in China, the US or the Middle East can instantly affect investors' results anywhere in the world, as the market is global and always volatile. And it would be best if you kept it in mind.

However, the market is quickly recovering like a living thing, and almost all equities and indices are bullish, not bearish. And while economists are forecasting pressure on the market from inflation and supply shortages in 2022, the economy will be recovering, and we will see above-average equities growth.

Bank of America has a different view, which forecasts a slightly negative year for equities due to heightened concerns about frenetic IPO activity, liquidity risks, negative actual interest rates and rising inflation.

So, Binomo's financial forecast for this year is as follows: don't ignore the situation in the labor market because they affect any currency pairs. Also of concern are interest rates, political and jurisdictional decisions of countries with the largest economies.

In this scenario, you should pay attention to the securities of companies related to services and high-tech, as well as gold and oil. Investors who trade high-tech assets in the long term need to be more careful. Some analysts note many similarities between current market conditions and 1999-2000 when dot-coms crashed,” concluded Clark.

Binomo is a website and a free mobile app for both Android and iOS users.