In this article, we will review all the main information about the Binomo trading platform, discover who are Binomists, and why they choose this platform. We’ll also address questions regarding the regulation of Binomo in India. You’ll figure out how to get the most out of the platform, including training on a Demo account and using strategies.
What is the Binomo website and app?
The Binomo company is a platform that enables traders to make extra income cash online on shifts in rates of currencies and other assets. The platform offers many opportunities for market analysis, guides, and tips for trading education. It also allows trading on the go due to its convenient mobile app.
Users can open trades through the browser by accessing the platform’s web version, or they can download a mobile app. Those who trade relying on their experience but not on luck are called Binomists. These are wise and diligent traders who study market analysis.
Continue reading to find out more about what Binomo is and how does it work.
How to download the app?
You can log in to Binomo using both a web version for PC and a mobile app. It’s an empowerment of having access to the platform anywhere. You’ll find the yellow logo of Binomo on Google Play and AppStore. If you’re having trouble installing it to your Android device, then instead of hacking, download the free APK version to invest and trade: https://binomo.com/en/promo/android.
Note that the Binomo trading app is only available for smartphones and tablets; there is no software for Windows or Mac OS, and you will not be able to download any app on your computer. However, you can trade on your desktop through the web version.
Why is Binomo safe?
Sometimes new traders look for proof regarding Binomo being safe or legitimate. If you have any doubts about whether the platform is reliable or not, then you need to know that the International Financial Commission regulates the platform. It is an independent organization that cares about traders’ interests and provides a compensation fund of 20.000 euros per case.
Binomo is not fake or fraud; you can rest assured that the platform got the FE Award in 2015 and the IAIR Award in 2016 for excellence in global finance and markets. The company also has been awarded a Verify My Trade certificate of trade quality.
To find out if Binomo is legal in India, you can search for reviews on the net. Check such trusted sites like Quora and read what people think on forums for traders and brokers. Check the head office address or any other information about the company on the official website www.binomo.com.
How to use Binomo?
Binomo is a user-friendly platform that really cares about user experience. It requires not much time to get familiar with its interface. Furthermore, if you are a beginner, you do not need to rush and deposit right away. The first step is to learn how the platform operates, study strategies, and practice on real charts – this is how traders become Binomists.
Register and login
Users can easily log in to the platform and choose Hindi, English, or any other language convenient to them. For a smooth signing up process, follow the steps below:
- Open the login page on the web or on the mobile app.
- Create an account by entering your email with a secure password. Alternatively, use a Facebook or Google account to sign in.
- Choose a currency to use for your account. It cannot be changed after registration on the platform.
- Read and accept the terms and conditions of the Client Agreement to be aware of rules that should be followed while using Binomo.
Sometimes the company may request an account verification – then you need to provide documents proving your identity. It used to take a long time, but presently it only takes a few minutes because of Binomo’s automated verification system (vs. IQ Option that doesn’t provide an automatic service).
Practice on a Demo account
A Demo account is a convenient way of learning for beginner traders to open and close trades. You can trade with virtual funds and participate in a “Daily Free” tournament with other users. Explore the website’s tips and tutorials for more information on trading on Binomo and figure out how it works.
Note! Sometimes beginners ask how to play Binomo, but it’s not a game. This platform allows you to learn trading mechanics, apply strategies and study the financial market.
Get a trading education
The Help Center or FAQ page is similar to Wikipedia for traders to find answers regarding any queries. Furthermore, you can also contact a support specialist through email or in the live chat. Alternatively, address your question through the chatbot available in the app for Android and iOS users.
On the website, you’ll find a variety of strategies for beginners and experienced traders. Study them and develop your own approach to the trading process. True Binomists understand that there are no “winning” strategies. No trading strategy guarantees a 100% result on trade. Instead, Binomists seek to progress and attempt to understand how to alternate them. Over time they construct their price forecasting strategy. This is the way every trader needs to go through to understand the principles of the trading market.
Participating in tournaments is another terrific method to improve your trading abilities while earning some extra funds. What’s the purpose of tournaments? You can compete for a prize with other Binomists with different levels of expertise. After participating in a few tournaments you’ll see your progress or understand what knowledge you require to get better results.
The next step – to invest
In India, you can invest and trade on the platform with a minimum deposit of $5. To open a trade, you only need $1. Popular payment methods for investment are NetBanking, UPI, Paytm, Indian Cash, GlobePay, and PhonePe. However, PayPal is not one of the deposit options.
Binomo also provides its users with the following bonuses:
- A 25% welcome bonus to all new users after registering, but it is only valid for 30 minutes. However, free Demo account holders cannot use it until they have made a minimum deposit.
- For deposit bonuses, the higher the deposit amount is, the more bonuses you will get.
- As part of the Binomo bonus terms and conditions, VIP users can also receive bonus coupons or codes from their manager (for example, 100% to the deposit).
- Furthermore, traders receive no-deposit bonuses like risk-free trades for VIP account holders or mailings to active traders.
Trading on Binomo
It is worth noting that the platform uses fixed-time trades (FTT). It allows to get up to 90% profit in case of the correct forecast. Let’s see how to trade on Binomo:
- Log in to Binomo.
- Choose an asset.
- Select a deposit method and enter the number of funds you want to trade.
- Determine how long you want the deal to be active.
- Make a forecast by pressing the green (UP) or red (DOWN) buttons. If your forecast is correct, you get extra income, and if not – you can’t return the amount invested.
Traders who want to know how to make money on Binomo should be aware that it’s not a place for fast earnings. On the platform, you can get extra income but trading requires practice and understanding of the market.
Make sure you always trade on your own. Any bots or sources providing signals can be cheating. In case the platform finds out that dishonest methods were used, you won’t be able to get extra income from such operations.
Note! You can also become a partner in the BinPpartner affiliate program and earn extra funds by referring traders to Binomo.
How to withdraw money from Binomo?
As per security policy, you can withdraw funds from Binomo via one of the payment methods you used to make a deposit. The minimum withdrawal amount is $10. Withdrawing funds can take anywhere from a few minutes to three days or more, depending on the type of account and the payment system used. Moreover, Binomo’s has some withdrawal limits:
- A day rate of up to $3000
- A weekly rate of up to $10,000
- A monthly rate of up to $40,000.
There is no commission on withdrawals. For example, IQ Option vs. Binomo charges a commission of $31 for wire transfer.
Binomists’ reviews about the platform
The platform offers a lot of benefits to traders, and this is why it gained a lot of positive reviews. There are some of them:
Mohsin: “In summary, Binomo is a dependable and smooth platform.”
Imba trader: “Binomo has an iOS and Android application which comes in handy when you don’t have access to a computer.”
Sakshi Bhambhani: “Trust is very important in your trading platform. Binomo has a great and amazing platform for beginners, I started using Binomo around last year, and it has been a fairly good experience. I appreciate the prompt response from customer support, which is very important for trade.”
To make up your own impression, you need to try Binomo itself but reviews from other people are always helpful if you need to understand what is exactly worth attention on a certain platform.
Hopefully, this review showed you that Binomo is a real and regulated trading platform, not a fraud or scam. Now you can sign up to get a trading education and take advantage of the appealing features such as contests and a Demo account.
Remember that to make progress in trading, practice and experience are required. This is how beginners become Binomists who are curious about new opportunities and strive to achieve their goals by increasing skills and knowledge.
Before you start trading online, you should be aware that risks are involved, and anyone can lose funds invested. Trade wisely.