An exclusive interview of David Clark, APAC managing director at Binomo

For a country’s prosperity, long-term economic growth and development require savings, investments, and other financial goods. People, whether they are running a home or a firm, want trustworthy, inexpensive financial services, which the global financial system should offer.

Today’s global financial and labour market is faced with numerous challenges, not least for investors. Despite a tumultuous economic environment and volatile market dynamics, the year 2022 is expected to be a boon for potential investors trying to diversify their portfolios and increase their wealth and income.

And even if you are not a high-profile investor with a massive capital, the chances of multiplying your wealth are manifold, by virtue of many online trading platforms that exist in today’s challenging yet promising business environment.

Today we are talking to David Clark, APAC Managing Director at Binomo, about some of the key issues pertaining to the global financial market, the challenges it poses to the potential investors, and insightful information about the myriad online trading platforms, including Binomo, that might be the key global financial drivers in 2022.

What are global financial market drivers in 2022?

David: The main driver is still the current condition of global economy – no need to specify why. But all the markets seem to restore fast so far. Almost all indices and stocks are bullish. So, despite pressure from inflation and supply shortages next year could hinder the economic recovery, there will still be above-average growth and gains for stocks in 2022.

What should investors pay attention to next year?

David: Pay attention to labour market issues that affect any currency pairs. Other key areas of concern include interest rates, inflation, political debates over US federal spending and the debt ceiling, and US antitrust.

By the way, there is an alternative view from Bank of America. Its strategists now forecast a slightly negative year ahead for stocks “due to increased concerns about negative real interest rates, surging inflation, frenzied IPO activity and liquidity risks”.

What are the most important tools to invest in this scenario?

David: Among the key market sectors to watch are oil, gold, services and high-tech. But many analysts mark that there are too many similarities between today and 1999/2000; with signs of excessive speculation in the stock market, it resembles a late-cycle bubble akin to the dot-com boom in 2000. So keep that in mind dealing long-term with high-tech.

Do these forecasts affect online trading?

David: Of course, they do. Therefore, traders need to consider many factors while trading – the news of the world economy and science, forecasts of financial experts (sometimes quite contradictory ones, by the way), assets in demand, even weather in trading commodities!

Let’s talk more specifically about trading, or rather about the place where to trade. Pakistan has several prominent platforms. What Binomo has that others don’t? What makes it unique?

David: As you have noted, Binomo is popular in Pakistan. And it’s not without reasons. Binomo is a reliable platform that takes care of the interests of its users. Trading here is available for traders with different levels of experience. Beginners and experienced traders will find on the platform:

• Friendly and straightforward interface.

• The minimum deposit is 10 dollars.

• Clear video tutorials and a demo account to help hone your trading skills.

• A section with turn-by-turn strategies and an economic calendar.

• Automatic account verification service that will help protect it from scammers. In this case, the verification time takes a maximum of 10 minutes. • The Help Center contains answers to the most popular questions about the platform.

• No additional fees for trading, depositing and withdrawing funds.

• A unique FTT trading mechanic allows you to trade with short expiration times from 1 to 60 minutes.

As you can see, Binomo has a lot to offer its users.

Is Binomo an investment platform for beginners? How does Binomo encourage new traders to trade more?

David: As mentioned above, Binomo is suitable for both beginners and experienced traders. Beginners are given special attention here. The platform provides detailed training materials: video tutorials on how to trade on Binomo step by step, a Strategy section, a Glossary, a demo account and a free tournament “Daily Free” to learn and improve your trading skills.

As you gain experience, you can try your hand at real trading for as little as $10. It 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. VIP clients get the maximum advantages for trading: 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.

What are the benefits of Binomo for professional investors?

David: Binomo takes care not only of beginners but also provides the following benefits for pros:

• Straightforward and not overloaded trade room.

• Several types of trading assets – currency pairs, gold, indices, etc.

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

• VIP status with its advantages for better performance. A new and exciting addition for VIP traders is the Prestige Club. It is a special service package with exceptional benefits available to VIP traders who have deposited $3,000 or more per month. Let’s see what it gives them:

• Up to 300% deposit bonuses.

• Premium tournaments are high-level closed contests for the best traders with valuable rewards. Participation in tournaments with an entry fee of $200 or more will be free for them.

• Inside information about Privilege Hours with up to 90% profitability in the correct forecast.

• High priority service – The email requests will be processed primarily and answered by a personal VIP manager within one business day. So, his service package is suitable for traders who know how to turn any market situation in their favour and get the most out of their investments, i.e. pros.

So, VIP traders have more advantages. Is the name “Binomists”, which can often be found on the net now, connected with VIP traders? Is it the same?

David: Not actually. Anyone can be a Binomists: your friend, colleague, or neighbour. 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 trading skills: learn new strategies, practice on a demo account and participate 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 Binomist and VIP trader is perceived as synonymous.

Can investments become an extra income for professionals who do not work in the financial market?

David: Not only can but should! In the 21st century, everyone can invest. The Binomo platform offers a lot of information about trading, a demo account for any experimentation and honing of skills, and any help in understanding how Binomo works. Thus, anyone who is not a professional in the financial markets can get additional income with some effort.

How else can you get additional income? Where should people invest this extra income?

David: The best way to invest - is reinvesting extra income in working tools. So when you get profit in trading, invest in trading more and get more additional income.

You must understand that trading involves the risk of losing funds, just like any investment transaction. To reduce this risk, you need to improve your knowledge and trading skills, use financial instruments, analyze market movements to forecasts correctly. All traditional ways are still working: bank deposit, real estate, gold, state bonds, insurance - but all of it together can’t offer such an easy entrance border and profitability even close.

The choice is obvious, as for me.

Furthermore, Binomo provides an affiliate program. You can also earn additional income from attracting referrals to the platform. In this case, you don't need to trade yourself.

Financial education is not a topic for many Pakistanis. How to start planning personal finance, and what are the trends for 2022?

David: First of all, a lot of information about it on the platform; you can learn more there. Second, when you start trading the true way, you get more discipline, focus, planning your finances anyway.

As far as 2022 trends go, I would say the same as any other year: start counting and managing your finances to get extra profit. And to start planning, keep a trader's diary, and you will understand a lot about money from your own experience.

You can also read some helpful books on financial management to be sure: “Rich Dad Poor Dad” by Kiyosaki, “The Total Money Makeover” by Dave Ramsey, “Broke Millennial” by Erin Lowry and so on.

Conclusion

The existing global market, while grappling with several challenges, offers hope and promise to an individual looking to make an additional income. Today’s economic outlook, however, allows everyone to try to get additional income via online trading. And Binomo is one of them.

The article does not necessarily reflect the opinion of Business Recorder or its owners