Home » Other Categories » Others » What do Indian Traders Like About the Trading Platform Binomo?

What do Indian Traders Like About the Trading Platform Binomo?

Atreya Mukerjee

March 15, 2021

Contrary to common belief, Binomo is not a new platform. An investment company for beginners and professionals, it has been operational for seven years. Over time, it provided its myriad of users with different lucrative trading channels that are hard to find elsewhere.

This summary roughly covers all you need to know before you begin gaining additional income from the trading platform. However, let us quickly clear all the niggling doubts you might have about the platform with the primary question, “What is Binomo trading?”

In this review, we will be learning a few essential facts about the trading company that revolves around the basics; how to log in, create an account, and trade on the platform.

Binomo India – What is it?

Binomo is a subsidiary company of Dolphin Corp., an organization exclusively dedicated to investment services, headquartered in the Caribbean. On this trading platform, users can trade on more than 60 different assets and earn an additional income on accurate forecasts.

Is Binomo Real or Fake?

Before choosing a trading platform, traders often wonder if that trading platform is legal in India. The same is asked about whether Binomo is legal in India and if it is safe to use. If we were to go only by the company’s tenure of operation since its inception in 2014, we might be able to rubber-stamp Binomo safe for trading.

But that is not enough to pass a judgement, and we sure need more proof.

One solid proof of Binomo’s affirmation as an authentic platform is its “A” category certification from the Financial Commission, a highly recognized financial regulator in the industry.

Is Binomo a scam? The various awards bagged by the company asserts it as a trustworthy platform. Among such awards are FE of 2015, IAIR of 2016, and IAFT of 2016, as well. 

How to Sign in to Binomo

Now that you know Binomo trading is safe, you need to learn how to create an account on the platform.

Sign in for New Users:

No need to fret about this. Creating an account on Binomo is as simple as pie. Just a few details and you have an account for all your trading activities.  

We are going to break this down into few steps to make it all easy for you:

1. Enter Binomo’s official website: www.binomo.com.
2. Tap on the yellow button next to the flag icon on the website.
3. You can choose a language that is convenient for you on the Binomo website (for example, English/Hindi)
4. This brings up a tab for you to “Sign up” or “Login”
5. Ignore the login tab if you are newly registering and input a valid email address and strong password as well.
6. Pick the currency of your choice for trading (the set currency cannot be changed).
7. Tick the small square before the “Create account button” to signify you have read the Client Agreement and tick the small square.
8. Cross-check to be sure your details are accurate and tap the “Create account” button to open your account. 
9. If you find this process all too strenuous for you, you can also create an account by connecting your Google account. 

Login If You Already Have an Account:

1. To log into Binomo’s website. If you already have an account, tap on the “Login” option, and input your email and login password.
2. Tap “Sign in” to complete the process. 
3. Alternately, you can also login using your Google profiles. 

Binomo Demo

Immediately after your registration, a virtual account will be automatically set-up for you. This is your demo account; designed by the platform to inform new users how to trade on Binomo.

You get virtual $1000 to trade real-time on the platform for practice. The trades you make are technically fanciful, and the profit generated in case of the correct forecast will not get credited to your wallet. Neither will you be able to withdraw the demo funds in your Binomo wallet. However, via this, you will learn the whole process involved in carrying out Binomo trades.

Binomo Deposit and Withdrawal

Now that you have mastered Binomo trading on the demo account, it is time to make your first deposit.

Outlined below is the breakdown of the entire deposit process:

1. Log into the account and go to the Cashier section
2. Tap the “Deposit” button to continue to the checkout page
3. On the checkout page, fill in the necessary details (the deposit amount, payment method, etc)
4. Check out and wait for your deposit to be processed. It usually takes up to a few minutes

Withdrawal also follows the same process. You can withdraw funds only using the same payment system used at least once for deposit. You must tap on the “Withdrawal of Funds” tab on the checkout page to initiate your outgoing payments. 

For traders from India, the following payment systems are available for withdrawal, namely: 

1. Indian Exchange
2. Net Banking 
3. PayTm
4. GlobePay, etc. 

The withdrawal time depends on the account you are using and payment system. Withdrawals usually take from a few minutes to 3 days or more. 

How to Trade on binomo.com?  

The best way to learn how to trade is through the Binomo demo account. In this section, we will be quickly going over the process: 

1. Before initiating any trade, we advise that you go through the available Binomo Help Center to gain valuable insights into the current profitable assets and those that are not.
2. After this, you can go on to trade by picking an asset and projecting how it’d do for a duration specified by you. You can either tap on red to indicate the asset’s fall in price or green for the rise.
3. After this, indicate the duration of time you like to trade for and secure your trade contract, as well.
4. Wait till the time elapses and cash out. 
5. Binomo also hosts tournaments. Demo account holders can only take part in the free contest. Other Binomo customers can also take part in paid competitions. Detailed information about each event can be found in the corresponding section on the website.

More About Binomo

Binomo also provides rookies in the trading business with Binomo tutorials (Help Center) and real-time training with its demo account. This account gives starters on the platform to learn how to trade in real-timе until they are ready to move on to the main account types. 

Users can also access other valuable instructional materials on investments from the following sections on the Binomo website

1. Help Centre 
2. Glossary of Terms 
3. Strategies

Where to Download the Binomo App for Mobile Trading? 

What is the Binomo App? It is the mobile version of Binomo’s website. You can trade, deposit, and do so much more on the mobile app version of Binomo without using your desktop.  

The Binomo trading app can be downloaded from both Android and iOS app stores. If you are an Android user, you can also initiate the app download directly from the website. 

You can get the Binomo APK here.

Conclusion

Binomo indeed is a great platform. One exciting thing about it is that users can trade in their local languages. So, for Indian users like ourselves, Binomo in Hindi is a helpful tool. 

But, like every other thing in life, trading is accompanied by some risks. Knowing and mitigating these risks would help you to get additional income and enhance your trading ability.