Binomo Platform Review for People

In this Binomo review, we’ll delve into all the nuances of this service. We’ll look at what the company does, its history, and the tips for growing your portfolio by making sharp trades. Our review will shed some light on whether or not it’s ideal for speculating assets.

What Is Binomo?

It is a website specializing in options where beginners and professionals can speculate on assets, from stocks and FX to crypto. It doesn’t include commissions and gives investors easy access to the worldwide markets via a simple user interface. Check out some features below:

Location

St. Vincent and the Grenadine

Website

Licensed

International Financial Commission

Tradable Assets

Stocks, CFDs, Currencies, Cryptocurrencies

Demo Account

Yes

Mobile Compatible

Yes

Banking Methods

Bank Transfer, e-wallets, Bank Cards

Min Deposit

$10

Min Trade Limit

$1

Indian Users

Accepted

Company Details

It started up back in 2014 and belongs to Dolphin Corp. The service holds several awards.

Is Binomo Legal In India

Yes, and it has existed in the Indian market since 2014. While it’s not licensed in India it does hold legitimate offshore licenses.

Licensing And Regulations

Binomo holds a highly regarded license from the IFC, based in London, England who is highly respected in its segment. The licensor regularly audits the firm, handles customer complaints, and guarantees a percentage of users’ funds. See the license below.

Binomo Registration Process

The website provides a simple registration process, letting users quickly sign in and begin straight away. To ensure you avoid any issues when signing we will break down the whole process in-depth.

Go To The Sign Up Page

Navigate to the sign up page by hitting the “Sign in” tab as shown in an example:

Verify Your E-mail

After creating a Bionomo login, you must authenticate your email in a two-step process.

  1. Access your profile and hit the “Confirm Email” button

  2. After that, check for a message with a verification link. 

Verify Your Phone Number

Upon authenticating your email, consider doing the same with your number. This ensures that any sensitive data will stay out of reach for frauds. VIP clients get a personal manager. To complete this process, provide your number and hit “Confirm.” You’ll get a text with a code you must type into the corresponding field.

Complete Your Account Profile

The final step is filling out these details:

  • Name 

  • Date of Birth 

  • Gender 

  • Country

Start Trading

Upon signing up, go ahead and cash in via any method you see fit. While the transfer is processing, browse the marketplace and find the perfect asset.

To begin:

  1. Pick the ideal asset class for speculating and the sum of the operation

  2. Select time horizon 

  3. Select direction

  4. Finalize the deal

Account Types On Binomo India

At Binomo India, users are offered several accounts tailored to meet the needs of different users. Each type has unique features including access to certain financial markets, faster withdrawal times, and investment insurance. Let’s describe each of them in-depth.

Free Account

Once you sign in without topping up your wallet, your account’s status is “free.” This unlocks several features:

Assets

23

Cash-outs

No

Deposit Bonuses

No

Payout Rate

N/A

Cashback

No

Tournaments

Yes

Investment Insurance

No

Personal Investment Advisor

No

Loyalty Prizes and Gifts

No

Standard Account

This one provides much more flexibility and functionality. You can unlock it when cashing in $10+.

Assets

41

Cash-outs

72 hours

Deposit Bonuses

100%

Payout Rate

85%

Cashback

No

Tournaments

Yes

Investment Insurance

No

Personal Investment Advisor

No

Loyalty Prizes and Gifts

No

Gold Account

For serious traders, there is a Gold account. To unlock it, you must add $500+. For this, you get even more freedom:

Assets

54

Cash-outs

24 hours

Deposit Bonuses

150%

Payout Rate

90%

Cashback

5%

Tournaments

Yes

Investment Insurance

Yes

Personal Investment Advisor

Yes

Loyalty Prizes and Gifts

No

VIP Account

For pro users who need every tool possible, they have a VIP account. It grants a user a set of handy features:

Assets

61

Cash-outs

4 hours or less!

Deposit Bonuses

200%

Payout Rate

90%

Cashback

10%

Tournaments

Yes

Investment Insurance

Yes

Personal Investment Advisor

Yes

Loyalty Prizes and Gifts

Yes

Is Binomo Safe

The service has over 1 million active traders and has offered superior service since 2014. We’ve seen no evidence of any Binomo scams over the Web. It is licensed by a top international finance governing body that routinely audits the site.

Funds Management

At Binomo, your deposits are insured and secured, with greatly reduced chances of losing them. Also, the site must follow strict regulations concerning separating and protecting traders’ funds based on its license with the IFC.

Account Safety

Whatever happens, your data always remains secure. To take money out from the site all users must verify their identities and banking method. It also has a top customer support team that is quick to lock any activity if they suspect fraud. The site also employs A-grade encryption so that payment details remain secure.

What Can You Trade On Binomo In India

Indians are actively opting for the site because of the assets supported by it. Go ahead and trade almost everything under the sun. Have a glance below for more info.

Currencies

You may pick from 10 currency pairs. The top one is EUR/USD which has lots of opportunities with tiny spreads. Stable market liquidity makes it a perfect variant for both quick and long-term deals.

Commodities

These refer to raw materials forming the backbone of any economy. You may opt for a whole range of commodities, including:

  • Gold

  • Oil

  • Steel

  • Corn

Indices

These are a set of certain asset classes providing exposure to certain aspects of the economy. You may pick from an array of indices like the S&P 500.

CFD

This is a derivative dependent on an underlying asset but the owner does not physically own it. Suppose you buy a dollar CFD. You don’t actually have dollars in your virtual pocket, but you own a contract whose value fluctuates with the dollar’s price. You may find CFDs for all kinds of assets.

Cryptocurrencies

Earn some rupees on your favorite crypto increasing or decreasing. Currently, you may pick from these crypto variants:

  • Bitcoin 

  • Bitcoin Cash

  • Litecoin

Demo Account Vs. Real Money Trading

The site features demo accounts. The idea behind them is simple - users are given $1000 in play funds for practicing. Naturally, you’re blocked from earning real cash; however, you won’t lose a penny. This is only for testing out new software and trying out new strategies. If you’re a newbie, make a few training deals and gain some basic features figured out before taking financial risks. You can delete it whenever you want.

How To Use Binomo

Binomo is newbie-friendly, providing maximum functionality to both newcomers and professional traders. Let’s highlight some of its key user features.

Trading Hours

You may access international markets around the globe anytime, 24/7. Certain markets such as crypto are open round the clock. However, please take note that some asset classes such as stocks typically trade Monday to Friday from 9 am to 5 pm local time.

Risk/Profit Ratio

This ratio shows how much a user may expect to make for every $1 they invest. A ratio of 1:20 means that for every dollar, you may earn $20. A high ratio means an increased level of risk. Adjust your trade size accordingly.

Spreads & Commission

These are the buy/sell ratio (AKA bid and ask) for the asset’s price. If Trader A places the top bid at $100 while Trader B places the lowest ask at $110 the spread is $10. There’s also a  commission a site charges for every deal. The site has very low spreads and zero fees.

Leverage

This one refers to borrowing extra resources to bring up the sum of your deal. The website doesn’t currently offer leverage.

Chart Types And Indicators For Analysis

Traders use chart types to accurately visualize the asset’s price and use indicators to help them determine the price directions. Pick from various options, including:

  • Linear, Bar, and Candlestick Charts

  • Moving Average

  • Bollinger Bands

  • Alligator Indicator

To begin trading, proceed with a candlestick chart and use a combo of the aforementioned indicators to help form your winning strategy.

Helpful Trading Tools

Binomo is jam-packed full of helpful instruments to aid in increasing your win percentage. Amazing tools available for Indian users include support for cryptocurrency, trade cancellation, and a pending trade tool.

Support For Cryptocurrency

The site allows for instantly cashing in and out via Bitcoin and Litecoin. This amazing feature makes it incredibly simple to run financial transactions no matter when.

Trade Cancellation

You can cancel any pending deal anytime. After canceling, feel free to browse through the “History” section within your profile to recall some of the previous actions. 

Pending Trade Tool

Upon submitting a trade that hasn’t been filled, it’ll go straight to your pending trade section where you may read the needed info concerning the deals waiting to occur.

Binomo Trading Step - By Step

Figuring out the website could not be easier. We have broken the process down to each step so you can effortlessly place bids and asks.

Pick a Market For Trading

The main stage is picking a market for a deal. Click on the asset in the left corner and browse the menu that opened.

Make A Forecast And Analyze The Chart

After navigating to the correct market, the task is to guess where the asset will move. Use various indicators for some aid.

Pick The Amount For Investing

Another tricky task is to size your deal correctly. The amounts are always based on your bankroll and your ideal risk tolerance and are adjustable.

Set The Stop-loss And Take-profit

Upon picking your deal’s size, establish a stop loss (a price lower than the market) and take profit (a price above). If your stops are hit, the deal will close the very moment.

Start Trading

To finalize your deal simply hit the green button to bet on the pricing going uphill or red if you think otherwise.

Close The Trade Anytime

Upon creating the trade, you may close it anytime. Just proceed to your current trades and click close.

How To Deposit Money In Binomo From India

Supported Banking Methods

Indian traders have five methods to pick from:

  • Bitcoin

  • Litecoin

  • E-wallets

  • Bank transfer

  • Credit cards

Deposit Process

Proceed with these steps to add some funds and start opening deals right away!

  1. Upon finishing the Binomo sign in, hit “Deposit”

  2. Pick “Deposit funds,” and then a method

  3. Pick how much you’re depositing

  4. Fill in your data and finalize the operation

Fees And Limits

The site charges no fees, however, your payment medium may. Users can cash in up to $10,000, while the minimum one is $10.

How To Withdraw Money From Binomo

Supported Methods

Indian traders can withdraw via these methods:

  • Bitcoin

  • Litecoin

  • E-wallets

  • Bank transfer

  • Credit cards

Withdrawal Guidelines

Here’s how to cash out within minutes!

  1. After you have logged in click “Deposit”

  2. Proceed to “Withdraw funds”, pick the method, and specify the sum you’re cashing out

   3. Fill in the required details and finalize the cash-out

Fees And Limits

Indian traders won’t face any fees when cashing out. Take note, though, that some limits are applied:

  • $10 minimum withdrawal

  • $3000 per day

  • $10.000 weekly

  • $40.000 per month

About Binomo Bonus Offers For Indian Traders

There’s a wide array of bonus deals to help Indian traders increase their bankroll and earn some extra cash. These bonus promotions include a welcome deal and a first deposit promo.

Welcome Bonus

Users can benefit from a 100% welcome freebie. The site will match your cash-in, for instance, adding $200, expect an additional $200 as a gift. To access this deal use this Binomo coupon code: MEGAUG100.

First Deposit Bonus

Upon your initial cash-in, you can receive 5% to 10% cashback meaning that you may receive this portion of your losses back. Besides that, you might be eligible for a hefty bonus reaching 200% of the cash-in. Only valid for Gold and VIP members, though.

Bonus Terms And Conditions

Bonuses must be used within the allotted time otherwise they are voided. For a gift, cash in at least $10. To receive cashback and a 150% to 200% bonus, you must add at least $500. Bonus money is subject to turnover requirements ranging from 30x to 40x.

Binomo App For Mobile Trading

They have a world-class app that’s perfectly compatible with modern devices. The app provides full functionality and users can easily cash in or out and trade all from their phones.

App Overview

The official Binomo provides perfect conditions for mobile users. Check them out:

  • Deposit - you can pick an array of methods in the app. Each of them is also present on the full-fledged site

  • Trade all markets - with the application, you have 50+ different markets at your disposal

  • Simple interface - browsing through the different markets is incredibly easy

  • Withdraw - after making some winning trades via your gadget, you can cash out via all methods from your device

How To Trade With The App

The app completely copies the website. Follow these steps to start making profitable bids from your gadget:

1. Pick the asset class you’re interested in.

2. Select the size of your deal and set its timeframes.

4. Click “Up” when opting for the price rising; otherwise, hit “Down”.

5. Finalize the process.

Customer Support

The platform is praised for providing fast and competent customer support. They gladly go the extra mile to take care of their clients and have the following features:

Support Availability

Languages

Methods Of Contact

Contact Details

24/7/365

24

Live Chat and Email

Live Chat - pop up window, simply log in to access

E-mail - [email protected]

Binomo Education Center

They have a certain portion of their website dedicated to educating newcomers. Discover lots of amazing resources spanning from beginner-friendly topics such as bankroll management and learning to control your emotions when trading to advanced strategies focusing on Bollinger Bands and Harami Patterns. Be sure to visit this education section. It is accessible through the site's homepage under education.

Binomo Reviews From Traders

The site has a 3.4-star rating on Trustpilot. In their Binomo reviews, users praise the design and features of the application, as well as the simplicity of the sign-in process. Users also have positive things to say about the site’s customer care team who are described as helpful and simple to reach. However, some traders have complained about slower than advertised withdrawal times.

Pros And Cons Of The Broker

While Binomo is a great service filled with lots of pros, prior to signing in, you should also consider some of the cons:

Pros

  • No commission

  • Lots of different markets

  • Great mobile app

  • Fast support

  • Crypto trading

Cons

  • No leverage

  • Located offshore

  • Not regulated in India

  • Limited payment methods

While the site surely has some cons, particularly if you’re a leveraged trader, we believe the number of pros makes this website incredibly valuable for Indian users of all levels.

Binomo Trading Platform Alternatives

While Binomo is a great site here are some alternatives worth checking out:

  • OlympTrade - Also regulated by IFC, over 200 different asset classes, has great 2FA security

  • OctaFX - Established in 2011 this service lets you place bids on crypto and FX. OctaFX has a great system for copying the actions of pro traders.

  • Binany. A decent variant for newcomers looking for some practice, as the website offers free training for users.

  • Etoro. A reliable service offering a wide array of assets. And a zero-fee policy makes it a go-to option for Indian users.

  • Iq Option. Cash in, get a 50% match to your wallet, and start making profits, copying the most lucrative deals.

  • Pocket. A relatively new player in the segment with an innovative approach to social trading.

  • Binary. One of the trustiest websites with the sweetest offers reaching $500 just for signing in.

  • ExpertOption - Super high payout of 95%, great 100% cash-in bonuses, and is completely mobile compatible.

  • Trading 212 - Instead of buying derivatives you can purchase and own various underlying assets, including Gold, ETFs, and stocks.

  • DEGIRO - Buy stocks globally and make all kinds of trades. DEGIRO provides money lending, and users can borrow up to $10,000.

Binomo Review Final Thoughts

In this Binomo India review, we explored all the nuances that make it so great while also giving you in-depth tips on how to begin benefitting from the site. Based on the data we’ve compiled, it’s safe to say that the service offers tremendous value and a great user experience to traders from all backgrounds due to a great UI, a great array of markets, and zero commission structure.

FAQ

What Is Binomo?

It is a grade-A service for profiting from all kinds of assets that fits both seasoned traders and newbies.

How To Use Binomo?

To use the site to its full potential, do the following:

  1. Set up an account - enter a name, address, date of birth, e-mail 

    1. Cash in - hit “Deposit,” pick a payment methodology of this communication.

  2. Make a trade - see details below.

  3. Cash out - hit “Withdraw funds,” enter details and receive your money within 72 hours!

How to trade in Binomo?

To begin, just:

  1. Pick the asset that seems the most promising

  2. Select trade size

  3. Set the time length of the deal

  4. Pick the direction

  5. Confirm your trade

How to cash out on the website?

For this:

  1. Hit “Deposit”

  2. Select “Withdraw funds”

  3. Fill in the needed data

  4. Conclude the transaction

How to change language in Binomo?

To change language, click on the personal data tab. Then click language and pick any language.

How to use the app?

For starters, you need to get it from GooglePlay or AppStore. Then top up your wallet and begin profiting from sweet deals. Simply pick the asset you’d like to start speculating on.