After years of frowning, people have finally recognized the importance of investing. Many have opened Demat accounts in the last 15 months, leading to an unprecedented rise in the broking industry. The demand has also led to the incorporation of new players, although established players, such as Binomo, are adding more users than anyone. In this article, we find out why.
What is Binomo?
Binomo is an online broker. It was established in 2014 and is based out of St. Vincent and the Grenadines. As of today, Binomo has a presence in over 130 countries, serving traders in Asia, Africa, and South America. It is especially popular in India, Brazil, and Turkey.
According to Binomo’s website, it has almost a million active daily traders. Binomo’s platforms completed over 35 million trades in the last week. The platforms use the SSL protocol to ensure all the data is encrypted and secure, giving traders the freedom to trade without worrying about fraud.
Binomo also ticks all the boxes as far as regulation is concerned. The broker is regulated by the International Financial Commission (IFC), which is an international body that regulates financial markets. Binomo has been IFC’s Category A member since 2018, demonstrating its commitment to customer protection.
How to Open a Binomo Account?
User experience is the key for Binomo. The broker has an easy interface that ensures new users do not trouble joining the platform. Here is how you can open an account on Binomo:
- Visit Binomo’s official website or download the app from the Play Store or App Store.
- Click Sign in
- Hit Registration
- You can use your email ID, Google account, or Facebook account.
- Choose either one of them and enter your valid credentials.
- A registration link will be sent to your email ID, if you open an account using your email.
- Confirm your email address
- You can begin trading on Binomo.
Log in Binomo Account
Existing Binomo users can easily log into their Binomo account. They can do so through the website, mobile app, or mobile web. Here is how you can log in to your Binomo account:
- Visit Binomo’s official website or open the Android or iOS app.
- Click Sign in
- Enter your email ID, Gmail account credentials, or Facebook account credentials.
- Your Binomo account will be opened. You can begin trading.
Binomo Android Application
Binomo offers an app specially for Android users. It is available for download on the Play Store. The app has more than 10 million downloads and has a 5-star rating. It is equipped with all the features available on Binomo’s web portal, including indicators and functions.
Binomo iOS Application
Binomo also has an iOS application for its iOS users. You can download the iOS application from the App Store. It is rated 4.6 and has over 7500 reviews, so it is highly recommended.
Binomo Web Trading
Binomo does well with its mobile applications, but the web platform is the real deal. Most traders use it daily to buy and sell different assets. The platform uses SSL protocol, which ensures all your data is encrypted and secure. This layer of protection allows traders to focus on their traders.
You can use over 20 different graphical tools to analyze trading charts. Hotkeys aid in quick online trading, while Binomo also provides an economic calendar integration and independent tabs for use with various charts. You can also start trading with just one click—a feature you won’t find at every broker.
Binomo Mobile Web Trading
If you do not have access to Binomo’s mobile applications but wish to trade on your mobile, you can use mobile web trading. It is just as good as the desktop version, full with every analysis tool, chart types, and more.
Open your web browser and visit Binomo’s website to get started. You can log in using your email, Google, or Facebook credentials.
Binomo Account Verification
Security is essential to Binomo. The broker aims for a safe user experience and ensures that all the users on the platforms are legit. It requires every user to complete the following process:
- Verify your address of residence
- Verify you are the legal owner of the credit or debit card you are using on Binomo.
- For ID verification, you must provide a scanned photo of your passport or any other government document.
- For the address of residence, provide a scanned copy of your bank account statement, utility bill, tax statement, and official document with the stamp from the municipality. Ensure these documents contain your full name and address.
- If it is a bank statement, it must show either the logo of your bank or an official seal.
- For credit or debit card verification, provide a scanned copy of both sides of the card. A scanned copy of your credit or debit card must contain your full name and part of the card number must be obscured.
Binomo Deposit Money
You can deposit money in your Binomo account using your bank card, E-wallet, or through a bank transfer. Each of the deposit methods is equally safe and effective, so it depends on which mode you want to use.
When you deposit funds, they are credited within an hour or even instantly. Sometimes, however, it may take longer depending on your payment service provider. Regardless, here is how you can deposit money in your Binomo account:
- Log in to your Binomo account.
- Click the Deposit button in the top right corner
- Select your region from the Country menu
- Choose VISA, Mastercard
- Enter the deposit sum
- Choose your mode of deposit
- Let us assume you deposit using your debit/credit card.
- Fill in the card details and then click OK
- Enter the confirmation code sent to your phone.
- Enter it to finish the payment
- If the payment is successful, you will be redirected to a page where you can see the transaction details.
Binomo offers different types of account statuses. They are suited to different kinds of traders, demonstrating Binomo’s aim to make its platforms accessible to everyone. You can choose from:
- A Free status is available to all registered users. It allows you to trade on the demo account with virtual funds.
- Standard status is the second type of status on Binomo. You must deposit $10 (or an equivalent amount in your account currency) to access this status.
- For Gold status, you must deposit $500 (or an equivalent amount in your account currency).
- Users chasing the VIP status must deposit $1000 (or an equivalent amount in their account currency) and confirm your phone number.
Binomo Withdraw Money
You can withdraw money from your Binomo account using your bank card, E-wallet, or through a bank transfer. Depending on the withdrawal method, the money will reach your account within 48 hours. Follow these steps to withdraw money from Binomo:
- Head over to the withdrawal in the Cashier section
- Click the Withdraw funds tab
- If you are using the mobile app, open the left side menu and choose the Balance section.
- Tap the Withdrawal button
- Enter the payout amount and choose your withdrawal method.
- Fill in the required information.
- Your request will be confirmed.
- You can track the status of your withdrawal in the Cashier section on the website and Balance section on the mobile app.
Binomo Contact and Support
Registered users on Binomo gain access to tournaments. It is an exclusive feature that allows registered users to compete with the other registered users in a game of trading. The prize money can vary from a few hundred to thousands of dollars. It is distributed among the best players in a particular tournament or challenge.
Learning plays a big role in trading, and Binomo understands that. The broker offers a blog packed with the information you need to up your trading game. You can read articles on trading strategies, technical analysis, and chart patterns and use the learning to improve your trading.
Cashback on Binomo is compensation for unprofitable trading for one trading week. Cashback accrues automatically every week, overnight into Monday (at 12 AM).