Home Trading What is Binomo? Binomo India trading platform review

What is Binomo? Binomo India trading platform review

by Altaf Shaikh
What is Binomo? Binomo India trading platform review

What is Binomo and how does it work?

Binomo is an online trading platform. Financial trading has traditionally been through corporate traders, with clients left vulnerable due to incomplete information. Binomo offers a way for you to obtain full information and market analyses and then, trade currency pairs, equities, commodities, and OTCs. All of these, instantaneously, on your mobile device or PC.

What is Binomo?

Binomo has established itself in the industry as a reliable online trading platform. Indeed, this is proven by its category “A” membership of the International Financial Commission. A feat it has achieved through a dint of hard work and transparent, quality services.

Binomo was established in 2014. Its parent company (Dolphin Corp.) is registered and located in St Vincent and the Grenadines. It has taken the company only six years to emerge as a leading, reputable, reliable online training platform.

Sign in and login

Before you can use Binomo, you have to sign in. Just follow the steps written below and you can be registered and good to go in a matter of minutes.

  1. Open the website https://binomo.com/.
  2. Enter your email address.
  3. Then, create a strong password.
  4. Then, you select your preferred currency.
  5. You have to indicate that you have read and accepted the terms and conditions.
  6. Finally, you click the “Sign up” button.

Account types

Binomo has four types of accounts available. This is based on the principle of inclusivity. The account types are tailored to cater to clients from different financial backgrounds. Accordingly, they have commensurate requirements and privileges. The four classes are listed below. 

Demo

When you sign up on Binomo, you are granted a virtual $1,000 demo account. With this, you can make real trades without using actual capital. And when you exhaust it, it gets replenished. The aim is to gain trading experience before you begin to trade using real funds.

Pros of a demo account 

  • With the demo account, you can learn how to trade in real-time without using real money.
  • The demo account comes with succinct tutorials to ensure that you fully grasp the process

Standard

The standard account is the first real account. It requires a minimum deposit of only €5 or $5 for India. With the standard account, you will enjoy a profitability level of up to 85% when you forecast correctly and will get your withdrawals processed in 3 days (depending on your method of withdrawal). Although, you won’t get insurance or a personal manager.

Gold

The gold account requires a lot more deposit. The minimum total deposit is €500 or $500. However, it earns you a lot of perks. One is the up to 150% deposit bonuses. You will enjoy insurance and a personal manager. Also, its profitability level is up to 90%, if you forecast accurately, and you will still get a weekly cashback of 5% (in some cases). To top it off, your withdrawals will get processed in 24 hours (depending on your withdrawal method). However, some payment systems still require up to 3 days.

VIP

The VIP account is the most privileged account type available. Its profitability is also up to 90% when you forecast correctly, but it allows you to get up to 10% cashback weekly (in some cases). This is apart from up to  200% deposit bonuses. Also, your withdrawal requests will get processed in 4 hours (depending on your method of withdrawal).  But some payment systems still require up to 3 days.

However, its most important perk is the risk-free trades. In risk-free trades, earnings get added to your account, while losses are not deducted.

Deposit and withdraw

You can deposit funds in your Binomo account, either by transferring them from your bank cards or e-wallets.  

You can also withdraw funds to your bank cards or e-wallet. Note that bank card withdrawals will only be completed if the card was used to fund your trading account. Transactions will only be considered complete when they are verified by your chosen payment system. 

And if you are making transfers from bank cards denominated in a currency different from the one you Binomo trading account is denominated in, the funds will be converted at your bank’s internal price. Binomo charges no commissions on deposits or withdrawals. Commissions may, however, be charged by your chosen payment system.

How to use Binomo?

  • To start trading, you have to log in to a real account. You can check for the type of account you are logged in to in the upper right corner, immediately above the chart.
  • When you have made sure of that, you then select the asset (for example, EUR/USD) you wish to trade.
  • Set the time and the amount of funds you wish to trade.
  • Then, you click on either the green or red buttons to indicate the direction you predict the chart will go.
  • Wait for the time you have set to run out and if your prediction is right, your earnings will be instantly paid to your account

What is a Binomo app?

The Binomo app was designed by Binomo to give you easier access to the platform so that you don’t have to go to the website for every minor thing. The app allows you to receive notifications on different market indices. Also, it allows you to make and check your trades on the go.

The Binomo App is available on both the Android and iOS app stores. Alternatively, it is available for download as an APK file on hindi (https://binomo.com/in/promo/android). That option is, however, only available to Android users. On the whole, though, the App is not an alternative to the website. You will still need to visit the website for in-depth technical analyses.

Binomo reviews 

There are several positive reviews for Binomo on the internet, from people who have used it and have earned from it. 

Sanju pro: «I’ve been earning an excellent experience with Binomo for more than a year and I do not regret anything. At first I worked with different companies but now focus here».

Curlbury: «I have been using Binomo for five months now. The trick is to be persistent. I have faced few losses goood. Trading is a very competitive and time taking field».

Shubhangi Dhall: «I have been using Binomo for a while. Nevertheless it is a great platform for online trading and I would say it is easy to use as well».

Taabeer Ahmad: «The best way is to have proper knowledge about your investment and then choose your platform, I choose Binomo as my platform».

Is it a fraud?

No, it isn’t. It is legally registered in St. Vincent and the Grenadines, and is fully legal in India. Also, if you are not satisfied with the services rendered, you can approach the International financial commission, an independent dispute resolution organization dedicated to financial trading, to lay your grievances. So, no, Binomo is not a scam and it is not a fraud.

Conclusion 

With Binomo, you can make trades on the strength of full information and market analyses made available by Binomo. And with their several other programs specifically designed for the purpose, they will assist you to make successful trades.

However, you should know that financial  trading is a high-risk endeavour. It is not advisable to over-expose yourself to risk.

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