Cashback
Cashback is a form of compensation for unprofitable trading during a single trading week. This compensation is automatically credited on Mondays for the previous week (Monday through Sunday inclusive). The percentage of cashback that are charged depends on user's status. If user have a Gold status, user will receive a compensation of 5%, while VIP members receive 10% of their losses back in real money.
When calculating Cashback, Binomo take into account the following factors: the total amount of deposits made during the week, minus the total amount of withdrawals made during the week, and minus the amount remaining in the balance on Sunday. Please note that the cashback calculation only considers the losses incurred by the trader, not the potential profits. User can view the payment history for a trading week by accessing the "Cashier" - "Transaction History" tab ("Balance" - "Transaction History" tab for mobile application users).
Therefore, the trader's loss amount is calculated in case the trade was not successful.
For instance, let's say user deposited $10,000 on Monday, withdrew $5,000 on Wednesday, and ended up with a balance of $1,000 on Sunday.
$10,000 - $5,000 - $1,000 = $4,000 is the loss, which will be compensated by the return.
For VIP accounts, the cashback is 10% of the loss amount (in the example above, it would be $400), while for Gold accounts, the cashback is 5% of the loss amount.
Insurance
Investment insurance is a free option for privileged traders on Binomo. If trade was not successful and real account balance reaches zero, part of trader's lost investment will be compensated, provided that trader applied for insurance.
Compensation amount varies by investment amount:
- Invest from $200 to $499: Receive 20% bonus funds compensation (leverage 40)
- Invest from $500 to $999: Receive 40% bonus funds compensation (leverage 40)
- Invest from $1000 to $1999: Receive 10% in real money or 50% bonus funds compensation (leverage 40)
- Invest $2000 or more: Receive 15% in real money or 50% bonus funds compensation (leverage 40)
If an insured event occurs, trader will receive 10% of the insured investment amount through risk-free transactions, bonus funds, or real money compensation. Choose the option that works best.
To activate the offer, inform Binomo of intention to insure investment via [email protected] or online chat. Note the following:
- The option is available only before trader's first transaction on this investment
- When trader withdraw funds, the insurance is deactivated, since the system understands that the goal that the trader pursued in the trade was achieved and the function is irrelevant
- Choose to use the bonus in the trade or activate the insurance option