Everywhere in the world, people are finding it necessary to establish an additional source of income. This is where Binomo comes in. For years, Indian traders have been able to trade the financial markets. However, it was always done through 3rd party traders who charge fees. With Binomo, you can conduct these trades yourself, online, using any internet-enabled device, creating an additional stream of income for yourself.
What is Binomo India?
Binomo is an online trading platform that allows you to trade currency pairs, equities, commodities, indices, and OTCs on the financial market. Also, it is not just a trading platform in India, it also contains various tutorials that are designed to help you acquire expertise in trading (available in Hindi). Asides from this, some other perks and privileges are made available to traders on Binomo.
Is Binomo a fraud or not?
Is Binomo legal in India? I understand that you may be wary. Who wouldn’t, considering the prevalence of scams on the internet nowadays. However, I assure you that Binomo is not one of such scams. The company is duly registered with the International Financial Commission, an organization dedicated to the regulation of online trading platforms. And in recognition of its transparency, the IFC has awarded it a Category “A” membership.
Also, Binomo’s processes have been checked and certified fair by Verify My Trades. In further recognition of the platform’s credibility, Binomo won the FE award in 2015 and the IAIR award in 2016.
How to trade on Binomo?
To trade, log in to a real account. You can check whether you are logged in to a real account by clicking on the icon in the upper right corner, immediately above the chart.
- After that, you then select the asset you wish to trade.
- Select the number of funds you wish to trade.
- Select the time you wish the trade to run for (from 1 to 60 min).
- After then, you click on either the green or red buttons to indicate the direction you predict the chart will go. The green button, if you think that the price of the asset is going to increase and the red button if you think that the price of the asset is going to decrease.
If, after the time you have set runs out, your forecast is right, your earnings will be instantly paid to your account.
Sign in and Login
To access all services that Binomo offers, first you need to sign in. You can do this in a few simple steps outlined below.
- Go to the website https://binomo.com/.
- In the space provided, enter your email address. When you have done that, create a strong password.
- Then, select your preferred currency.
- After that, tick the box to indicate that you have read and accepted the terms and conditions Client Agreement.
- Finally, click the sign up button and your account will be created.
There are 4 account types available on Binomo. The first is the Demo account with which you can hone your trading skills by practicing risk-free. Then, there are 3 real accounts with different requirements and privileges. They are outlined below.
Immediately you sign up, you can choose to use a demo account. On the demo account, you are granted $1,000 virtual trading capital. With this, you can trade without losing real trading capital. The point of this is for you to become familiar with trading practices before you can finally begin to trade using real capital.
When you are satisfied with the level of experience you have garnered using the demo account, you can then move on to real trading accounts. The first way available for you is the standard account.
- A minimum deposit of only 5$ or local currency.
- You can get deposit bonuses of up to 100%.
- Its profitability levels are up to 85%, in case of a correct forecast.
- Withdrawals are processed in 3 days or less, depending on your payment method.
For those who want a little more, there is the gold account, it is the next option available after the standard account.
- A minimum cumulative deposit of 500$.
- You can get deposit bonuses of up to 150%.
- You can get 5% weekly cashback and expert guidance from a personal manager.
- Its profitability levels are up to 90% if your forecast is correct.
- Withdrawals are processed in 24 hours or less, depending on your payment method. But in some cases, the withdrawal of funds can take more than 3 days.
Binomo’s prime offering is the VIP account. For those who can afford it, it offers an experience like no other.
- A minimum cumulative deposit of 1,000$.
- You can get deposit bonuses of up to 200%.
- Its profitability levels are up to 90%, in case of a correct forecast.
- Withdrawals are processed in 4 hours or less, depending on your payment method. Sometimes the withdrawal of funds can take more than 3 days.
- You can get a weekly cashback of up to 10%.
- VIP customers get exclusive access to risk-free trades where earnings are added to their accounts but losses are not deducted.
Deposit and Withdrawal
You deposit funds into your Binomo account using any payment method. You can deposit funds from bank cards, or any e-wallet available in India. And it doesn’t matter whether your bank account is set in a currency denomination different from the one your Binomo account is set in. The funds will be converted at your Bank’s internal rate.
You can also withdraw funds using your bank cards or e-wallet. However, you can only withdraw funds to a bank card if you have deposited funds into your Binomo account from the card at least once. Your withdrawal will be completed in 3 days or less, depending on your account type and payment method.
For convenience, you may prefer to use the Binomo app. It is available on both the Android and iOS app stores. Also, for android users who might prefer to, it is available for download as an apk file: https://binomo.com/en/promo/android.
Here are what users have to say about the platform:
Mohammed Kamran: “Start-up capital of $30 and withdrawal of $100 in 5days without delay or complaint. I’m very happy to have started trading on Binomo”.
Kundan Raj: “I am earning extra using this application. Like all others I had no problem till now while using it. The developers team keeps on updating this application so that it works smoothly”.
Dill U: “Indeed, the platform is great. So far, there are no problems with the withdrawal, so I recommend Binomo as a trader!”
With Binomo, you can create that additional stream of income that you have always wanted. However, be aware that financial trading is risky and that you are just as likely to lose funds as you are to earn them. Always consider these risks when trading.