If you’re the type that likes to put your ear to the ground, you’d definitely have heard of the company name, “Binomo” and how trading is performed on the platform. This might have even discouraged from participating and led you to think it’s an exclusive platform for experienced traders alone. Well, no, it is not. Binomo, contrary to your preconceived beliefs, allows you to deal assets with any of your internet-enabled gadgets, hassle-free.
So, what are the things we’d be opening your eyes to about Binomo today in this article?
A lot you need to know about the platform before starting to make trades. To top it all, you’d also be learning whether trading in India using Binomo is safe or not, too.
Table of Contents
What is Binomo in India?
Binomo, if you didn’t know before, was founded in 2014 and has, in its six years of existence, been able to securely position itself quickly as a trading platform with great repute all over the world.
Binomo is a validated holder of International Financial Commission’s (IFC) ‘”A” Category Member’ award, which guarantees the company’s official capacity for independent dispute resolution, and also their capability to deliver quality & reputable services to their able clients.
Sign in and login
Signing up on their website is pretty simple!
- First, go to website: https://binomo.com/
- Include your email address in the provided box.
- Create a login password that’s highly secure using a mixture of numbers and letters.
- Choose the currency of your choice (EUR or USD or any local one).
- Then, tap the box below to check. This is an indication you’ve gone through all the terms contained in the “Client Agreement” and would like to comply with them.
- Once you’ve checked the square, you can then go ahead to tap the “Sign up” icon to open your own Binomo profile.
Once this simple process has been completed, you get to enjoy all the different fascinating features Binomo provides to every of its customers.
If this process seems too strenuous for you, you can as well register using either of the accounts you already have with Google or Facebook.
There are 4 different types of accounts (1 free [specifically designed for training] and 3 actual ones) you can subscribe to on Binomo. You’re allowed to choose any of these depending on your level of expertise in online trading.
Once you’re certain you’ve fully mastered trading on Binomo with a demo account (i.e. the account you get upon registration). You can then brace yourself up for the real world of trading on Binomo by switching to a real account.
First, before any trading activity can be performed on this account, you have to make a deposit of not less than €5 or $5 (or 350 INR for Indian traders).
And, what are the things you’d be enjoying while subscribed to the standard account?
- More than 40 assets and deposit bonuses that go as high as 100% that you could earn using this amazing account.
- Profitability could go as high 85% on correct pre-calculations you make
- Earning withdrawals are to be processed in not more than 3 days max (the swiftness of this process all depends on your method you’ve chosen for withdrawal).
Two shortcomings of this account, however, is that it doesn’t give its users trading insurance and personally assigned agents to provide valuable tips on market deals.
Traders who would love to enjoy more opportunities than what the previous account can provide them with could go for a better alternative, which is the Gold account.
This account, in contrast with the standard type, requires a cumulative deposit of $500 before trades can be made on it.
Its features are listed in full below:
- Deposit bonuses could reach as high as 150%.
- You have a guarantee of 5% weekly cashback (though not in all cases).
- Free access counselling and supervision from personally assigned expert managers is one of the special perks of the account.
- Profitability on accurate recalculations usually run up to 90%.
- Withdrawals are usually processed in less than 24 hours. Could take more time (even up to 3 days) if the method you chose takes a lot of time to complete withdrawals.
If you’re Oliver Twist and would love to have more than even the Gold account presents to users, you can subscribe to the VIP account.
With this account, you’re only expected to make a cumulative deposit of $1,000.
It’s amazing are listed in full below:
- As much as 200% bonuses on deposits. Amazing right?
- Accurate calculations could earn you Profitability levels as high as 90%.
- Unlike the first two accounts, withdrawals here get processed faster—in nothing more than 4 hours (depending on your withdrawal method) you should be counting your money. Some withdrawal methods could take up to days after initiation.
- You are entitled to cashbacks of up to 10% every week.
- Personal access to completely safe trades that add extra to your Binomo account and leave losses undeducted.
Education and demo account
Binomo makes it easy to learn trading. This is why it provides users, especially starters with the following training resources:
- Glossary of Terms;
These, if close attention is given to them, can hasten your familiarity with the whole process of trading.
The Binomo demo account will intimate you properly with everything you should know too. This unpaid account is virtually preloaded with capital of $1,000 that you can use to start on Binomo.
This “free fund” has been specifically dashed to you for you to practice trading on market real-time without ever touching the capital you intend in using later on. After you expend this fund, another will be refunded any time to encourage you to continue with your learning process.
The free account works pretty much like the actual accounts. The main difference, however, is that virtual capitals and earnings are, strictly, unwithdrawable.
How to use Binomo?
The few tips below might help to kick-start actual trading on Binomo:
- Log in with the necessary details into your profile. Please make sure you’ve been signed into an actual account before proceeding.
- Make a choice on the type of asset you would like to trade.
- Decide on the capital you’d like to invest.
- Make a selection on the desired duration you’d be trading for.
- Then, open the trade. This you can do by either clicking on the upward-pointing arrow (if you’re certain the asset(s) will go up) or the downward-pointing arrow (if you’re certain the chosen asset(s) will go down).
- After the calculated time passes, the trade ends. if your calculation is correct, 85% to 90% of the amount you’ve earned would be credited to your deposit (this percentage is usually determined by the type of account you’re subscribed to).
Do not hesitate to contact any of the customer agents (via online chat or through their email address: [email protected]) if you have inquiries or encounter any problem while using Binomo. You’d be attended to speedily.
Withdrawal of your earnings can be initiated at any point in time, whether through any of your credit cards or via any e-wallet platforms you can easily access in your region. The process is seamless and should be completed in not more than 3 days. The speed of this process is completely dependent on your account type as well as the withdrawal method you select while initiating your withdrawal.
What’s more? Unlike most other platforms, Binomo charges no payment profit on withdrawals.
Commissions may however be charged by your chosen payment system. But, this is, in no way, connected too with Binomo.
You should however know that credit card withdrawals will only be possible if you had earlier deposited some funds into Binomo from that same card, at least once before.
Since many online investors today are mobile-enabled and don’t have the luxury of time to make use of their computers every hour to monitor their investments on Binomo, a mobile app was developed to ease the process.
You can make trades using this Android or iOS and get instant updates every now and then.
However, some technical features on Binomo are impossible to use without you visiting the website.
This app is available on Apple and Android phones, and can be found on their any of the app stores you can access.
An APK file is also available for Android user only. You can download using this link: https://binomo.com/in/promo/android.
Binomo real or fake?
“Is Binomo real or fake?” “Is it safe?” “Is it even legal in India?” WeIl, to answer your questions; it is totally a genuine company.
You’ll find on YouTube and many social forums positive testimonials by Indians, and several other users from different countries around the world, who have been there, done that, and earned extra cash.
Binomo is a duly registered firm. So, there’s really nothing to bother yourself about. The company, at the same time, is IFC regulated and has undergone a thorough audit by Verify My Trade.
Binomo offers several safe and exciting means of gathering more cash you can decide to either spend or reinvest. Their professionalism and transparency strongly suggest them as a online company you’d have best experience using.
We, however, recommend that you only deal only in assets that pose minimal risks.
Do not also rely entirely on Binomo trading as your sole source of income. Explore other means too. Online trading poses high risk of financial loss especially for those who do not dedicate time to mastering it.