Indians were always obsessed with the mesmerizing world of financial markets. With the advent of technology, trading became online and saw a spurt in the number of traders globally. Riding this wave and establishing a name and respect among them were many small and big brands. These platforms are relatively simpler to understand and Binomo is one of the most prominent and trusted players among the traders.
What is Binomo in India?
Binomo started out in 2014 and has expanded globally since then. It has earned respect and love among the traders’ community due to their easy to understand features and more importantly, transparency.
India is one of the countries with a huge number of traders and Binomo provides specialized customer care services for their traders. They have dedicated customer care services for Indian traders where they can connect in Hindi, Hinglish or English.
As per the current status, with its presence in 133 countries, it witnesses over 900 thousand daily trading activities. While offering 90% maximum earning on the trading, binomo India is quite popular among the users.
Is it real or fake
Now, you might find a few feedbacks out there, which are in general directed at such online trading platforms, but on reading their posts carefully, I found that these were either by traders who did not understand the concept properly or who were trading emotionally and losing rapidly.
On searching and analyzing a little bit further, I found that a site like Binomo has won a lot of awards for their customer centric and transparent policies and that they are regulated by The Financial Commission which is a neutral and independent organization that specializes in Financial markets.
The fact that Binomo is Category A member shows the trustworthiness it guarantees for the traders. So Binomo can be safely regarded as a genuine platform with the highest standards and business practices.
Sign Up and Login
As with any other sign up, signing up on Binomo is easier and the first step towards trading on Binomo.
- As you click on the SIGN IN icon, you get a new window on your screen.
- You can choose Hindi or other global languages by clicking on the flag given on the top right corner.
- Either you can sign up freshly using your mail ID or you can create an account by linking it with your Facebook account.
- You have 3 currency options provided and if you are creating this account from India, please click on the Rupee option which is shown as selected in the attached image.
- Tick on the Acceptance box and you have an account ready.
- You can login and make changes in the profile and settings as per your actual records for future transactions.
Best thing about Binomo is that you can trade any time you wish. You can also view the website in Hindi.
How to Trade on Binomo
Once you login, you will see a Free Demo account and 3 different type of accounts namely Standard, Gold and VIP.
Demo Account
Now, I strongly advise the novice traders or people new to the platform to seriously use this Demo funds in the Demo account wisely and learn the strategies that best suits you.
As you can see, the default asset selected if the Crypto IDX (Top left, near the Binomo icom). You can click on that and select from a long list of asset types to trade in.
On the left side you have the additional informational tools to help you optimize your decisions.
On the right side are the Options and buttons for opening the trades and selecting the amounts.
The chart is what you see in the center.
On the left bottom corner, you see this “+25% First deposit bonus” and a timer which has close to 30 minutes left. When you login for the first time, you have a 30 minute window during which, any deposit of actual money that you make gets a 25% bonus from Binomo.
The question mark icon on the left bottom corner is the icon to click when you want to chat with the customer care. You get prompt and courteous responses from the staff in Hindi, English and Hinglish.
Account types
Once you have practiced well enough with the demo accounts, it is time to up the game. When I say practice well enough, I mean well enough. Understand how the platform functions, which are the best investments for you and try to forecast accurately using the tools available to get that extra income, and as a basic rule, never trade emotionally.
The image given below gives you a picture of the different types of accounts that you have on Binomo. The Free account is the one where you use the demo funds.
Standard
This is the first of the three. Its features are basic and are as follows:
- Activated by the minimum deposit amount of Rs.350
- You get to trade 40+ assets
- Withdrawals are processed within 3 days after your request (depends on payment method).
- 100% deposit bonus
- Profitability of up to 85% of your investments (in case of correct forecast)
- Participation in Tournaments
Gold
- Activated on reaching Rs.30000 worth of trading
- You get to trade 50+ assets
- Withdrawals are processed within 24 hours of your request (depends on payment method).
- 150% deposit bonus
- Profitability of up to 90% of your investments (in case of correct forecast)
- Cashback of 5%
- You get a Personal manager at this level who helps you in devising strategies and optimizing your investment.
- In addition to the above, you get Insurance, happy hour and tournaments
VIP
- Activated on reaching Rs.65000 worth of investments
- 60+ assets to trade
- Withdrawals processed in 4 hours (depends on payment method)
- 200% deposit bonus
- Profitability up to 90% (in case of correct forecast)
- VIP tournaments
- Cashback of 10%
- Special Prizes
- Risk free trades
- Personal Manager, Insurance, Happy hours
Deposits and withdrawals
Binomo is a great platform for traders who are starting out in this field. What Indian traders will love is its support service in Hindi and the transparency and ease of withdrawals and deposits. It has integrated plenty of local payment options. Withdrawals are made through these payment methods too.
But the withdrawal of funds is possible only for those payment methods that the trader uses to make a deposit.
How to download the app?
The Binomo app is available for iOS and Android on the App Store and Play Store respectively. You may also download the Binomo apk of the website (https://binomo.com/en/promo/android). It’s only for Android.
It is a good app and you can trade on the go using the app. Works smoothly and is good for people who do not always have access to the computer. You can use the app to trade wherever and whenever you want (while going to bed, on the way to office or stuck in a traffic jam).
Conclusion
Binomo is a good and trustworthy option if you are looking for an additional income. This is an investment option has its own risks. Approach it with an open mind. Learn by taking smaller steps. Take some hits along the way that you can handle. Develop your skills. Remember the saying, slow and steady wins the race. Keep realistic expectations as a trader as a strong mind is very important on such online trading platforms.
