Binomo Trading App Safe? Legit? Or Not?
What is Binomo?
Binomo is not a scam but a safe and legit online trading platform.
If you ask “How to make money there?”, then you need to understand that you can’t make money but you can get extra income.
Binomo is an online trading platform that caters to clients from 133 different countries and is one of the most popular brokers for traders from India, Brazil, Indonesia, Vietnam, and Turkey.
Binomo was established in 2014 and is owned by a company called Dolphin Corp, located in the St. Vincent and the Grenadines.
With over 887,470 daily active traders and over 30,000,000 successful trades per week, Binomo is one of the largest brokers.
But is Binomo right for you? Can they be trusted? In this Binomo review, I’ll tell you everything you need to know about this trading platform.
Binomo Trading App Safe? Legit? Or Not?
No, Binomo is not a scam.
Binomo is a legitimate online trading platform that is used by thousands of traders everyday from 133 different countries across the world.
This broker is a category “A” member of the IFC (International Financial Commission), which includes up to $20,000 in protection for case disputes.
By joining the IFC, Binomo reaffirms its commitment to maintaining the highest standards of conduct and business practices.
Yes, trading in India is safe with Bonomo.
However, this broker is not regulated by the Securities and Exchange Board of India.
Binomo is an offshore broker and is based out of St. Vincent and the Grenadines.
They accept traders from over 113 different countries, including India.
Is it Fake
Myths about fake or fraud are incorrect. It is a real, safe, and legal company in India regulated by the International Financial Commission.
It has been awarded a certificate of quality of trades by Verify My Trade.
For further proof, traders can check reviews to the broker on the net through platforms like Quora.
How To Get Started On Binomo
Follow the steps below for signing up on Binomo. The website is available in Hindi, English, and other languages for your convenience.
1. Head to the Binomo login page.
2. Write your email and password.
3. Select the currency to trade. The account currency can’t be changed after registration.
4. Read and accept the terms of the Client Agreement.
5. Click on “Create account”.
To sign in to Binomo later, use the email and password created.
How to trade on Binomo?
How does it work? To trade on Binomo all you have to do is choose an asset, set a time when the trade is finished, and make a forecast if the chart will go UP or DOWN.
If the forecast is correct, you get extra profit, if not – the sum isn’t returned.
A Demo account is stocked with virtual $1000 and it’s a great way for learning how to use Binomo and training.
As per regulation, the use of signals and bots is prohibited.
Note! You can earn extra funds referring traders to Binomo by registering as a partner in the BinPartner affiliate program.
Popular methods for depositing in India include such payment options as NetBanking, UPI, PayTm, Indian Exchanger/Indian cash, and Globepay but some like PayPal are not among them.
Sometimes the company may request an ID to verify a trader’s account.
Previously verification took some time but now the automatic service is available on Binomo.
Note! The minimum deposit sum for investment in Binomo is $5.
Traders can participate in the contests which can be found on www.binomo.com. Join one of them to get empowerment for the future trades.
There are three types of bonuses:
> The first one is a welcome bonus of 25% on a free account;
> Non-deposit bonuses given during promotions or by a personal manager (VIP accounts);
> Deposit bonuses applying when depositing (depending on the account status).
Check in the terms and conditions section on Binomo how to use a bonus code or a coupon (f.e. 100% to deposit).
The withdrawal limits on Binomo are next:
> Up to $3.000/day;
> Up to $40.000/month.
> Up to $10.000/week;
Note! The minimum withdrawal amount is $10.
As per security policy, withdrawal of money on Binomo is only possible through the same payment methods used to deposit. It can take a few minutes to three days depending on the account type.
There is no withdrawal fee vs IQ option where traders have to pay $31 for each bank transfer.
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