Binomo Trading Platform Overview: For those just venturing into online trading and those who have prior experience, this article is prepared as a Binomo review. It is a well-known online trading platform operating in many countries and also in India.
In this article, you will find all the information about how to use and trade on the Binomo platform.
Is Binomo legal in India or not?
Binomo is not a fake but a legal and reliable platform in India that provides quality service and transparency as it is regulated by the International Financial Commission (IFC).
It has also qualified in the Verify My Trade (VMT) audit conducted by the IFC and received its certificate. In addition, Binomo got the FE and IAIR Awards for excellence in global finance. Finally, you can check the real address or contacts of the company’s office to ensure the company is registered.
To summarize, we can consider that the platform is safe for traders.
What is the Binomo app and How is it downloaded?
The mobile trading app is available for Android and iOS users for free. You can search for the yellow Binomo logo on Google Play and App Store, download the application and start to invest and trade.
There is also an Apk version that Android users can access if they face problems with downloading the app from Google Play. You don’t have to hack an application, just visit Binomo app page.
Note! There are some insignificant differences between the app and the desktop version like you can’t use all the analytic instruments available on the website.
The app for PCs
The application cannot be downloaded on a PC (Windows or any other system) because it only works for smartphones and tablets. There is also no software available for computers. To assess Binomo on your PC, you need to visit the website and head to the Binomo login page.
Registration and Log-in on Binomo Trading App
Follow the steps listed below to pass registration:
- Download the Binomo trading app or go to the web version.
- Click on the sign-in icon to create an account.
- Input your email address and desired password.
- Select the currency of choice. Once the currency has been selected and the account created, it is impossible to change to another currency.
- Then click on “Сreate account” and confirm your email to finish the sign-up process.
As a trader who already has an account and wants to return or login to their Binomo account, all you need to do is:
- Launch the app on your phone or go to the website.
- Click on “Login”.
- Enter the email address which you used when creating an account and the password.
- Click on the “Sign-in” icon.
Binomo account verification is really important. How does it work? In India, there is an automatic check which will only take a few minutes.
Previously, verification took several days but now there is an automatic service launched and it takes just a few minutes unlike in IQ Option where no automatic verification is available.
Education on a Demo account
Do you want to know how to play Binomo? Please remember that this is not a game and trading requires in-depth knowledge and experience.
What is a Demo account and how does it work? On a Demo account, users have a virtual 1000$ that is automatically provided by Binomo and can only be used for training purposes. This is one of the ways of getting a trading education and it helps to increase your skills in a safe environment.
A good thing about Binomo is that the website operates in Hindi, English, and other languages. You can conveniently try the platform’s features:
- One of the distinguishing functions of Binomo is access to tournaments. On a Demo account, there is a “Daily Free” tournament available. It allows traders to contest with each other and for many of them also gives empowerment for the future trades.
- Read trading strategies to learn how to use indicators. Remember that there is no “winning strategy” because as it was said before: it’s not a game.
- Also, check what’s written in the FAQ section – a Help Center contains all the necessary information and tips about trading like Wikipedia. To send a question to the support team, contact a manager through firstname.lastname@example.org or live chat.
Tutorial on How to Trade on Binomo
How to make money on Binomo? The only answer to this question is that you can’t make money here but you can get extra income.
Binomo uses fixed-time trades that enable you to earn up to 90% in case you close the trade correctly. Here is a short guide on how to trade: all you have to do is select an asset, trade amount and time, and forecast: the chart will go UP or DOWN. If your forecast is correct, then you get extra profit, otherwise, funds aren’t returned.
Note! The use of signals and bots is strictly prohibited on Binomo.
The tutorial on the platform will help you to get familiar with the interface right after registration.
Deposit and Bonuses
First, you need to know which deposit methods are available in India for traders on Binomo. To deposit, you can use one of these popular payment options: NetBanking, UPI, Paytm, Indian exchanger, GlobePay. Some payment methods like PayPal are not among them.
The minimum deposit is $5. Binomo does not charge commission for depositing, but there may be a commission for transferring funds from the payment system that you use to make deposits.
Binomo offers traders several types of bonuses:
- Non-deposit bonuses depend on the conditions of the program for which it is given. Check the terms section on the website to learn how to use codes and coupons.
- Deposit bonuses depend on the amount of the client’s deposit and the account status (f.e. 100% bonus to deposit).
- You can also get the 25% Welcome bonus after creating a free Demo account.
Withdrawal and Limits
Let’s see how to withdraw money from Binomo. Withdrawal of cash can be done by using the method of payment that was chosen when depositing funds. It takes from a few minutes to about 3 days or more.
According to the Client Agreement, there is a withdrawal limit of $3,000 per day, $10,000 per week, and $40,000 in a month. The time of withdrawal is from a few minutes to 3 days or more, depending on the type of Binomo account and the chosen payment system.
BinPartner affiliate program is another way to earn extra income by referring traders to Binomo. The program offers its partners favorable conditions and provides promo materials for advertisement.
You’ll find there all the necessary statistics on your traders’ activity. After joining BinPartner you have an opportunity to get up to 70% of the income of each attracted customer.
Is the Binomo Platform suitable for Trading or not?
Binomo is a legit platform and not a scam or fraud. On the contrary, this is one of the best online brokers. There are a lot of positive reviews on forums and such trusted platforms as Quora – proof that traders have got a great trading experience.
Even though trusted independent organizations regulate Binomo, it is important to be aware of the risks involved in trading, improve your skills, and trade with caution.