If you are familiar with the online trading world you must have heard of Binomo, one of the most famous trading platforms. Nowadays, it operates in more than 130 countries, including India. But, is Binomo legal in India?
We should answer this with a “Yes.” Binomo is an online platform that has an app on both the Google Play Store and the App Store. Plus, it is an awarded company and regulated by the International Financial Commission. This organization checks and controls platfrom’s operations and if any conflict occurs between Binomo and a trader, this company steps in to help the user.
Now, let’s talk a bit about the Binomo trading company’s background. It was established in 2014. Binomo has got several awards since then, due to the provided quality and good service. The company is regarded as one of the best platforms in the world. Everyday, thousands of traders invest and trade online via Binomo website and trading app.
Do you want to explore more about how to use Binomo in India? Here’s a detailed review.
What is Binomo?
Binomo.com is an online asset trading platform. The Binomo platform allows you to trade currency pairs, commodities, equities and more. Before you start trading, you will also be provided with tutorials and educational materials.
Is Binomo safe or a scam?
Is Binomo real or fake? The answer to this question is simple! Binomo has been operating since 2014, and it has registered app on the App Store and Google Play. How would a company still be active if it’s fraud?
Well… Then why do some people spread rumors about the Binomo scam? The company provides a detailed Client Agreement to be signed by the prospective users, and these clients sign it without even reading it. In the agreement everything is clear and the acts that are allowed within the platform are explained. But when people don’t read it, and use the platform adversely, Binomo can ban their accounts for violations. That’s mostly why some users tend to ask “Is Binomo safe?”.
Is Binomo real or fake? The answer to this question is simple! The best way to understand a platform is to hear from the real users. So, here you may find some of them:
Sarah K.: “Binomo is a trustworthy app. Thousands of people are using this app in different countries.”
Shekhar B.: “ Thanks Binomo for the opportunity to train for free!!!”
abcd xyz: “Binomo’s customer service is excellent, they are helpful if you have any difficulties while trading. You can contact them if you feel the need”.
Mobile trading app
What is the Binomo app? It is a convenient way to invest and trade on Binomo anywhere.You may not have a long time to spend in front of the computer screen everyday. Binomo provides you with a mobile app, where you can visit it daily through your Android or iOS running mobile devices. This Binomo app is available in Hindi.
Binomo app download can be done from the app stores. Plus, there is a second way to download it, if this cannot be done through the store, download the Binomo Apk file from the link (only for users of Android devices): https://binomo.com/en/promo/android.
Sign in and login
Login to Binomo is not difficult. Follow the step by step instructions:
- Visit the official Binomo website or app.
- Click the “Sign in” button.
- Enter your email address or use your Google or Facebook account.
- Select a password.
- Select the currency for your account. You can’t change the currency once the registration process is done.
- Go to your email address to confirm the registration.
Once you’re done with the signing up process, you can login to your Binomo account by visiting the website or the mobile app. You just should use the email and password that you mentioned during the sign up process.
Binomo tutorials help new users to understand the structure of the platform and how to trade (but not how to play Binomo, because it is not a game. It is a platform on which assets trade).
Firstly, after the registration you are provided with a Binomo demo account which functions the same with a real account. By using a free demo account you can learn every tool and trading asset without risking your deposit. You can study strategies, practice and join tournaments (only Daily Free). All of these Binomo education will prepare you for online trade before you open a real account.
Demo account is available to everyone who registers on binomo.com. This type of free account is funded with virtual 1000$ by Binomo itself and can be used only for training. Don’t forget that this funds isn’t real and cannot be withdrawn by the users.
How to trade on Binomo?
Do you want to learn what Binomo trading is? Here you are:
- First of all, visit the official website https://binomo.com/
- Login to your account.
- Choose the asset that you want to trade.
- Set the trade amount.
- Select the time period for your trade. For example: 5 minutes.
- If you think the assets will go up within the time span you selected, press on the green button. If you think otherwise, then click the red button.
After you wait for the selected time to run out, you’ll learn if your forecast was correct or not. If you forecast correctly, the acquired amount will be transferred on your Binomo account. Otherwise, you’ll lose your deposit.
Binomo accepts several payment methods in India such as bank cards and digital wallets. The minimum deposit amount is $5 or an equal amount of local currency. Binomo does not charge extra fees for deposit.
Please be aware that you should use the same payment methods for deposit and withdrawal.
- Login to your Binomo account.
- Go to the “Cashier.”
- Click on the “Withdraw Funds” tab.
- Mention how much funds you would like to withdraw.
- Click on the “Withdrawal method” tab. Use the same methods as you used to deposits (Indian exchanger, NetBanking, GlobePay, PayTm, UPI, etc).
- Click on the “Request withdrawal”.
The withdrawal time depends on the account status and the payment system. Withdrawals are carried out from several minutes to 3 days or more.
So, from the Binomo review, you learned how to start trading on the platform in India. Even though you don’t have to be an experienced trader to register on Binomo, you definitely should practice your skills before you start real trade. Don’t forget that every time you make a trade or you take the risk of losing a part of your deposit, or sometimes the whole of it. To minimise the risks, you should practice on a demo account and benefit from the provided free trading tips.
Krishna Murthy is the senior publisher at Finance XOD. He is not only the senior publisher but also the owner of Tricky Finance. Krishna Murthy was one of the brilliant students during his college days. He completed his education in MBA (Master of Business Administration), and he is currently managing the all workload for sharing the best banking information over the internet. The main purpose of starting Tricky Finance is to provide all the precious information related to businesses and the banks to his readers.