Binomo Review 2024 : Best Trading App for Indian Traders

It is recommended that every forex broker should have the knowledge of the platforms they are going to use for online trading. In order to gain all the knowledge one should look for trustworthiness, security measures, regulatory compliance, advantage and disadvantage and transaction fees. 

Binomo was established in 2014, the forex trading platform stands out because of the features and security measures. Simple signup process with a small amount of minimum deposit, offers clients a demo account and many other features are really helpful for smooth trading. In addition to that, Binomo offers tutorials to enhance users’ trading skills, and trading tools warrant client assistance and provide analytical services but no social trading. The Head office of Binomo is located in St. Vincent and Grenadines.

In this page we are going to talk about Binomo Review based on the above mentioned factors.This Binomo reviews are on the basis of latest updates and experts view on this forex broker.

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RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

What Is Binomo?

Binomo is owned by a corporation called the Dolphin Corp, established in the Vincent and the Grenadines. Presently, the St. Vincent Bank Ltd site has over 30,00000 plus daily active traders and over 29,682,945 profitable exchanges every week. These numbers are only scaling further. Binomo broker trading company serves clients on an international scale, ensuring the most favorable trading conditions & implementing high-quality admittance to borderless financial markets.

The lucrative offers give users the most high level of shared trust and operate a user-friendly business exchange trading environment. Their association with clients has transparency, while their high-tech assistance grants traders to see the actual picture of the world’s financial business demands. This ensures fewer risk warning alerts. The trading platform is accredited by the International Financial Commission (IFC), and all the risks of its clients are insured under the prevailing regulations. All these security measures ensure that Binomo is well protected in the world of trading.

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Features of Binomo

Let’s discuss some of all the features offered by this platform:-

Demo Account Option

Binomo offers clients a cohesive and adequate convenient demo account. After logging in, have a free demo account where you can learn how to trade. The demo account is readily available through the simple process of adding your email address particulars. The demo accounts are equipped with virtual funds of $1000 reward system when a user completes the sign-up procedure. Demo accounts can be used to test trading strategies.

This reward can be topped up at any time for those looking for profitable returns once the clients become familiar with the workings of the online trading app and site. This free-risk account will allow you to see if it is suitable for you or not. With a demo account, trader can learn about asset trading and training. Trader needs to read & accept the client agreement.

Multiple Payment Options

The client’s trade requirements are met with opportunities and benefits of all the possible payment options. It is a platform that offers uncomplicated and convenient payment types which benefit clients’ funds. The trade account contributes its assistance to a plethora of global client bases. This means that there is a large probability for profits depending on the client’s residence. The minimum withdrawal amount for trading is $10.

The Binomo card and e-wallet assistance can be employed depending on the client’s location. The additional benefits of the payment types are suitable for a beginner and equipped for a skilled trader where you can get profit from $10 assets. These funds are completely unrestricted for traders of all capacities and expenses. You can use one of the payment options for bank transfer like e-wallet, bank card, net banking, UPI, or payment system in a few minutes. Binomo does not charge fees (IQ option which charges $31 fees for wire transfer).

Deals and Promotions

With Binomo, you can credit regular offers through the trading platform’s excellent deals, administering the Binomo coupon, and profitable promotions. The leveraged deals include topping up the user’s account with supplementary funds upon a deposit and granting users a great sign-up promotion.

The lucrative deals and promotions vary every day, so keep an eye on what is there to get the best value for your money. A minimum deposit of $500 can give novice investors admittance to supplementary support and one-on-one online training to help accelerate their business exchange learning through the support of a personal manager.

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Services Offered by Binomo

Let us discuss some of the services offered by this platform:-

Minimum Account Balance

You can start making payments on the best trading platform with a minimum balance of INR 350 in their Binomo wallet. Clients can start making exchanges with minimum investment opportunities even with the limited valuation.

An Innovative Model for Non-Stop Trading

Binomo is not restricted when it comes to the number of trades you can exchange on the platform. Clients have an opportunity to open an array of trading positions at a particular time and continue their trading pursuits for optimal leverage.

Available on the Weekends

The trade knowledge base company has agencies of a firm working on quotes over the weekends. The trade account puts together multiple benefits for the client’s suitability. Thus trading accounts are available during the weekends when traders can select the most fitting assets.

An Array of Online Training Options

There are many trading possibilities for different types of clients and trading pursuits. Customers have the opportunity to discover Contracts for Differences (CFDs) where the trade employs a more than extensive expanse. By being affiliated with the Financial Commission, the online trading company re-constitutes its assurance to sustain the most distinguished honesty norms in international trades and employ the most competent business exchange systems.

Moreover, you have the ability to request an appeal to the Financial Commission with the compliance securities. The regulatory body admits the proposals by clients for a period of 45 days following the period of the contentious circumstances. After this review period, the client has the option to address the matter of financial concern with the firm they have to trade. Binomo broker charges average commission compared to Binarium and Olymp Trade.

Apart from the Financial Commission securities,this platform is also affiliated with Verify My Trade (VMT), Certificate for Securities Trading (CFD), and Vanuatu Financial Services Commission (VFSC) regularities. Binomo underwent an audit by Verify My Trade (VMT) successfully and received a certificate of quality of trade.

Binomo Regulations

The trading platform complies with the Financial Commission’s regularities. The key factor of the Financial Commission is that it is impartial and has a self-governing conflict perseverance team that trains in business exchanges. Since its introduction to the trading market in 2018, Binomo has been a level “Category A” affiliate of The Financial Commission, which guarantees traders quality service and protection from an  independent dispute resolution organization. This employs a level of reliability and transparency amongst its clients and the security measures of an autonomous licensed compliant. Binomo is regulated by a trusted independent organization.

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Binomo: Pros and Cons

Pros	Cons
Simple signup with a minimum deposit of $10	Relatively small assortment of stocks compared to other trading platforms.
Provides a demo account and is suitable for novice and high-skilled traders.	Certain European countries and the US market are not permitted.
Uses different charts and User-friendly and flexible	The trading platform has inadequate trading contracts on binary prospects.
Features more than 14 indicators and 60 plus assets.	Only English and Russian support.
Web app and mobile trading available
Fast trade execution and easy to customize trading platform

Binomo Account Opening Process

You can register on the broker platform through three different methods: Gmail, Facebook, and mobile platforms. Binomo offers three account types : Standard account, Gold account and VIP account.

The process for registering through an email address is as follows:-

• The client needs to specify their email address and a reliant password.
• The customer needs to choose the account currency of their choice.
• The required user agreement needs to be complied with and accepted.
• If the client has a Gmail account, they can directly authorize the icon on the screen. They will be admitted to the platform if they are already logged into that device.
• Client can login page with created email and password.
• When new traders are ready, they can switch from demo account to real account.

The process for registering through Facebook is as follows:-

You can register on the broker platform through your respective Facebook account. However, the desktop version or the user’s device needs to be Facebook authorized before the sign-up process. The account currency cannot be changed after registration. If the Facebook details haven’t been authorized previously, the client needs to factor in the login details and will be admitted into the platform.

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Types of Binomo Accounts

Binomo has 4 account types namely:- Free accounts, Standard accounts, Gold accounts, and VIP accounts.

Free Account

The hallmarks of Binomo’s free account are a representation of the authentic account. This hallmark is an exemplary trading instrument for training before a live business exchange. This account type grants clients the lucrative option of analyzing the platform’s highlights without investing funds into the system—clients’ possibility to load up a free account with digital currency for a profit of $ 1000.

Standard Account

The standard account type is open for many traders with a business exchange background at any entry point. It warrants the complete functionality of the trading site. You have the opportunity to access the most eminent business exchange stocks with a fixed income of up to 85%. With the Standard Account, there is a prospect to settle transactions by financing with a minimum value of $1 for real trading.

The customer also has the ability to engage in tournaments organized by Binomo, the ability to renew their account without restraints, and the capacity to withdraw an asset for a duration of 3 business days depending on the withdrawal process the client has chosen.

Gold Account

Apart from the features of the Gold Account and regular assistance, those who purchase the Gold Account are provided with a plethora of lucrative perquisites. With the Gold Account, you can scale your forecasted assets. Customers are granted an expedited method for withdrawing stocks for up to 24 hours depending on the withdrawal process they opt for, can profit a return of up to 90% on Binomo investment, and gain admittance to an enhanced volume of bonus accruals when renewing an account. It will take three days to withdraw funds from your account, and you will be able to access them in 24 hours.

Binomo investment insurance is provided to clients with bonus funds. They can recommend a personal manager on any issues which arise during trading. There is also analytical assistance in the form of several trading approaches verified by experienced traders. Gold Account holders are extended weekly damage compensations in the form of 5% cash back through real stocks.

VIP Account

The VIP Account is granted to clients for large deposits. Investors can attain account maintenance programs with exclusive business exchange possibilities. VIP account holders get bonuses of up to 200%, and their fixed stocks reach 90%. Withdrawals take place within 4 hours in VIP accounts.

The customer is credited with a weekly financial decline compensation with a cashback of 10% through authentic capitals.

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Binomo Trading Platform

The trading is created to be as effective, easy to use, and comfortable as possible for clients’ business exchanges. Initially, the company administered third-party software as its platform of preference. But as the platform developed over the years, the company has advanced from third-party solutions towards its private, and efficiently conceptualized interface that coincides with the needs of its clients. Binomo offers trading instruments like currency pairs, indexes, stocks, and CFD. Binomo offers 80 currency pairs.

Binomo has a mobile trading platform as well. You can find the IOS app in the Apple store or the Android app in the Google play store. Binomo provides candlestick chart analysis and economic calendar integration. Binomo’s trading platform is regularly updated with useful enhancements and features for good trading conditions. This platform has more than 20 different graphical tools to help traders.

Advanced to include a variety of on-point traits for business exchange clients, the present reputation of Binomo is anything but non-exclusive. Binomo is efficient and practical as a hallmark to its business exchange customers. Binomo has received the FE and IAIR Awards for excellence in global finance and markets.

Binomo Leverage

The broker of the platform does not employ leverage under its part of offerings as it is a two-fold trading platform. However, it has a host of other hallmarks for business exchange clients to profit from their trading activities.

Binomo Fees

According to the Binomo positive reviews, it does not impose any compensation charges as far as trading fee are concerned. Its framework is constructed to promote more trading ventures.

Binomo Deposit & Withdrawal Options

The deposit and withdrawal best option available for business exchanges on the platform are Credit Card, Master Card, Perfect Money, and Skrill. Binomo does not charge any withdraw money but IQ Option traders have to pay $31 for bank transfer.

Binomo Tournaments

Tournaments are competitions held among registered clients on the Binomo trading platform. The Paid competition has a prize pool that starts from $10. Additionally, the broker platform administers tournaments such as a WeekEnd with a prize fund of $1,500, First Race with a prize pool of $7,000, and Lucky Trader with a maximum prize pool of $20,000 and beyond.

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Binomo Bonuses

There are three types of bonuses and promotion codes on Binomo’s ‘Bonus’ page. The first bonus on a free account is the welcome bonus of 25%. Deposit bonuses can be added when deposits take place, depending on the account status. The client needs to check the terms and conditions to use the bonus code or coupon for a 100% deposit return. When making a deposit, a bonus is available depending on the account status.

Binomo Terms and Conditions

Before you decide to register for Binomo’s trading services, take a close look at its Terms and Conditions. The platform provides a client agreement that outlines the conditions and rules associated with using their services. It’s crucial to thoroughly read this agreement before you initiate any trades. Notably, the initial line of the agreement indicates that Binomo is affiliated with Dolphin Corp, a company incorporated under the laws of Saint Vincent and the Grenadines. This comprehensive document covers various aspects, including details about potential disputes arising from trading activities and the associated risks.

Despite Binomo’s increasing popularity in various countries, it’s essential to be aware of certain restrictions. For instance, individuals from Canada, the USA, and the European Union are not permitted to create accounts on the platform. However, Binomo caters to a diverse audience by supporting more than 20 languages, such as Thai, English, and Indian, making it accessible to a global user base. Understanding these terms and restrictions is fundamental to ensuring a smooth and compliant trading experience on the Binomo platform.

Binomo Affiliate Program

As per the broker, the Affiliate program permits clients to admit and encourage other traders to join the business exchange platform to make profits based on their associate’s trading activities. If you become an affiliate partner of Binomo, they will profit out of 2% from the value of each transaction of their associate. The aggregate monthly earnings in this program are around $5,000. Traders can make profit from Binomo not only from trading, but also by using the BinPartner affiliate program.

Resources Offered by Binomo

The trading strategies offered on the platform are pathfinders, stock market convergence or divergence, how to use and trade on Fibonacci stages, puria indicative strategies, and technical indicators, to name a few prominent ones. Skilled and novice customers have curated strategies set up to their needs.

Binomo Mobile App

Binomo is available for Android and iOS. It has facilities for push notifications for clients to look for business listings and current exchange rates. Download this great app and prefer to trade on Binomo mobile apps for free from App store and Google play. There is a desktop version of the website which users can use for in depth analysis. This is one of the best trading apps for users. Mobile apps allow traders to trade from any place, at any time.

One more feature available on the Binomo app that you can get is to receive notifications. The quality of the app is a suitable choice for those who prefer to trade on Binomo. This is one of the best trading apps for users. Use the Binomo app for android and iOS. Download Binomo app from the app store and then started trading. This is the best trading app. Binomo app is user-friendly with a large collection of news to assist traders to make trading decisions.

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Binomo Security Measures

Security is of utmost importance for the business transaction firm mainly because this is an online business exchange platform that functions across multiple countries. The broker platform is protected with full encryption conformities; the trading website has high transparency of protective measures available for its clients. It has protective and licensed payment methods for withdrawals and deposits, enhancing the security of the client’s stocks. In addition to being a category A member of the International Financial Commission (IFC), Binomo has been certified by the FMMC.

Additionally, it has a policy where any customer who finances a value of $20,000 is protected against illicit practices while operating on the broker platform. Binomo is up-to-date SSL encryption to enhance its security levels even further. The high level of security and transparency is one of the reasons which stands out from its competitors.

Binomo Customer Support

Compared to other best forex brokers in the market, trade account holders get guaranteed customer assistance from professional business exchange experts. Get in touch with the support team through live chat directly from Binomo’s website to resolve their issues. Customers can get 24-hour live assistance for queries through the email address: [email protected]. Users can also email or reach out to the headquarters at Dolphin Corp, First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent, and the Grenadines.

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Binomo Reviews: Final Verdict

This is a leveraged trading platform that contributes effective traits such as a tournament, Demo accounts, and administers trading skills through tutorials. After trading in Binomo, clients can earn income with extra profit. Its responsive customer service and user-compliant interface on the app for mobile users and desktop users, to make it a lucrative option for business exchange pursuits. This Binomo review will help you trade better. Traders needs to read and accept the client agreement and privacy policy. Trader need to analyse their financial capabilities before investing as it includes high risk of losing money. Start the trading journey today with Binomo, which has Over 3 million traders across 130 countries.

FAQs

Is Binomo Safe?

If you are thinking that you can trade in Binomo and is it safe. Binomo is a secure, licensed and reliable company. The platform is regulated by the International Financial Commission. It has been conferred a certificate of excellence of exchanges by Verify My Trade. This certificate ensures that Binomo is not a scam and safe to trade on Binomo the platform in India. Binomo reaffirms its commitment to maintaining the highest standards of conduct and business practices.

Is Binomo Legal in India?

As per the Binomo review, the trading platform is licensed in India and warrants reliability, automatic service excellence, and transparency since it is a member of the International Finance Commission (IFC). Binomo has been used in India for exchanges since 2018 and is competent for trading. It is legal and safe in India. Binomo is regulated by a dispute resolution company, the International Finance Commission.

Can We Withdraw Money From Binomo?

To withdraw funds on Binomo, you need to apply for withdrawals from the previously used payment methods that you use at the time of depositing an asset. The minimum withdrawal amount for clients to start an online trading company is $10. The duration for withdrawals on the platform can take a minute or more than 3 days in certain cases. There is no withdrawal fee in Binomo.

What Is the Minimum Deposit Amount in Binomo?

The minimum deposit on Binomo is $5 (INR 350). With regard to minimum Binomo investment, this is as low as $1 (INR 70). When you register on Binomo, you need to select the bank card or e-wallet for the funds to be deposited. You can even use the same payment system that you used to deposit.

How Much Can I Withdraw From Binomo?

Binomo does not impose trading fees for withdrawals but has a daily limit. The daily withdrawal limit is $3,000, the boundary line for weekly withdrawals is $10,000, and for monthly transactions, the withdrawal limit is $40,000.

What is the Binomo app and how does it work?

Binomo, a global online trading company, offers favorable terms for traders worldwide. Certified by the International Financial Commission, it ensures the protection of clients’ funds.

How Should I Use Binomo Bonus?

You have a chance of being rewarded Binomo bonus coupons when they fund their accounts. Furthermore, Binomo authorized supplementary funds to the expense the client intended to deposit. On Binomo bonus coupon amount is visible when the client deposits funds. Traders Binomo in India can use web platform in both in Hindi and English.