Binomo is a market-leading trading platform with a wide range of financial assets. It has some of the most advantageous trading terms and investment options, which are convenient for both experienced, and novice traders. One of the highlights of the platform is transparency, which gives its clients spread across the world. Let me just brief you about the platform and its features. This is a review of Binomo, and its pros and cons.
What is Binomo Trading in India?
Binomo is an online trading platform in India. The official website is located at https://binomo.com/ (available in Hindi). It has taken the company only six years to emerge as a leading, reputable, reliable online training platform.
Is it safe?
Most traders wonder if Binomo is real or fake. Some are afraid that this is a scam. But Binomo is legal in India. The company started in 2014 and quickly built up its reputation as one of the world’s most reliable and trustworthy platforms among traders across the world. This is proven by its category “A” member of the International Financial Commission. Also, the company underwent an audit and received a certificate of quality of trades by Verify My Trade. Probably that could be a reason why the trust rate is on the higher side for Binomo from the clients.
There are 4 types of accounts on the Binomo website or app. The account types are tailored to cater to clients from different financial backgrounds. As you move up the account types, you get more features and privileges into your list. The account becomes a Standard account as soon as you deposit real funds in the account (5$ for India) and moves up the Statuses as the deposit amounts reach certain levels (total deposit for the Gold account – 500$, VIP – 1000$).
You can see what benefits account owners receive in the image below:
The first of the lot is free or the Demo account. This is particularly beneficial for novice traders or people who want to understand their way around the platform. The Indian traders get 1000$ as demo funds to practice your skills and understand the strategies that best work for you and the 20+ assets available for trade.
How to Use Binomo?
To start trading, you have to log in to a real account. You can check for the type of account in the upper right corner, immediately above the chart.
The interface is easy to understand. The left side has elements like the history of trades, tournaments, an economic calendar that shows important events that could affect the markets, gifts, chart preferences with a host of indicators and tools for trading.
Use this tutorial “How to trade on Binomo”:
- Log in to a real account (Standart, Gold, or VIP).
- Select the asset for trade (for example, EUR/USD).
- Set the time and the number of funds you wish to trade.
- Click on either the red or green buttons to indicate the direction you predict the chart will go.
- Wait for the time to run out.
- If your prediction is right, your earnings will be instantly paid to your account.
Sign in and Login
Account creation and login is very simple. The user interface is one of the user-friendly you could come across. You can create an account using your mail ID or simply via your Gmail or Facebook account.
While creating the account, you can choose the currency in which you would like to trade, which is usually set by default to dollars. You can select the “Rupee” option and proceed.
You must indicate that you have read and accepted the terms of the Client Agreement. Finally, you click the “Sign up” button.
To activate your account on the Binomo website or app, you need to verify your email.
There are diverse ways to withdraw funds from a Binomo trading account. Funds can be withdrawn directly to your bank cards or e-wallet. You can only withdraw through the same option you deposited from.
Withdrawals are processed up to 3 days, depending on your account type and method of withdrawal:
- Standart — withdrawals will get processed in 3 days or less depending.
- Gold — withdrawals will get processed in 24 hours. Some withdrawal methods still require up to 3 days.
- VIP — withdrawals will get processed in 4 hours. Some withdrawal methods still require up to 3 days.
Binomo charges no commissions on your deposits and withdrawals. However, commissions may be deducted by your chosen payment system.
Binomo makes tutorials available to all users, including the demo account. It takes knowledge of the trade, time, and experience to get an additional income. But there is always a risk of losing invested capital. FAQ, Glossary of terms, indicators, economic calendar, and strategies are put in place for traders assistance.
Apart from the regular trading, there are various tournaments that you can participate in and get an extra income. You can verify this by going to the “Tournaments” section. The prize funds and other details are given for each tournament.
Download Binomo App
For traders on the go, you have the Binomo app available on Google Play for Android and App Store for iOS and you can download these just like you do any other app and start trading. The Binomo app is also available for installation from the website (only for Android): https://binomo.com/in/promo/android.
This app makes it convenient to trade even when you are not around your Desktop or laptop. You can trade whenever and wherever you wish.
So, Binomo is safe and reliable to invest in and trading. It earned the trust of the traders. Do not take this as your main source of income and I would strongly recommend trading on this sensibly without being carried away by emotions. Don’t forget to use a Demo account. It is a boon through which you can practice and understand the platform. We wish you successful trading.