How to use the Binomo trading platform in India?

Binomo was founded to bring the financial market closer to everybody. Whether you are a beginner or experienced trader, you can trade assets online using binomo.com. With as low as $5, you can start to trade and earn extra income with correct forecasting. 

If you are asking how to play Binomo, that is the wrong question. It is an online platform where assets are traded. Well, let’s find out how to use binomo in more detail.

Deposit and Withdrawal

how to use binomo

To serve its clients spread all over the globe, Binomo supports several methods for depositing funds in your trading account. You can deposit funds from any bank card, or e-wallet supported in your region. 

And you don’t have to worry if you are depositing funds from an account set to a currency denomination different from the one your trading account is in. Your funds will be converted at your bank’s internal price. Deposits are completed and credited to your account as soon as they are cleared by your chosen payment platform.

Withdrawals work almost the same way as deposits. Various payment methods are supported. However, for you to successfully withdraw funds to a bank card, you must have deposited funds in your trading account from the card at least once. Depending on your account type, your withdrawal will be completed from several hours to 3 days (sometimes longer, depending on your payment system).

You should note that Binomo does not charge any commissions on deposits or withdrawals. However, your chosen payment system may charge a commission.

Verification

Generally, verification (proof of identity) is not required to deposit or trade. However, sometimes, it may be requested when withdrawing funds from Binomo. When that happens, there is no need to fret. You will receive a set of instructions on how to complete the process. And as soon as you submit the required documents (photo or screenshots of passport / ID and bank card / e-wallet), you are good to go. This is a requirement by regulators to ensure the safety of Binomo’s client community. In case a verification has been requested, you will not be able to withdraw funds until the procedure is completed.

Education and Tutorial

binomo education

Binomo is not just a trading platform, it also offers learning opportunities to its clients. It provides various educational materials in several forms (e.g. Strategy sections, Glossary of Terms and Help Center). Also, when you login on Binomo, you are given the option of using a demo account. 

On the demo account, you can make real-time trades using virtual capital. The point of this is to ensure that you are properly educated about the trading process before you start to trade your real funds. And to make it even better, the demo account comes with pop-up instructions on every button, showing you what they do and how and when to use them.

Strategies

Binomo lists several trading strategies on its website. These are strategies that have been applied to a great degree of success by expert traders. And if you are not too sure, you can try them out on your demo account before applying them to your real account. Also, they have been ranked from beginner to experience levels, so choose the one appropriate to your trading experience.

Indicators

Trading indicators are mathematical graphs, in various formats, that show trends in the price of assets, based on its price and volume. They help traders to predict future changes in price based on previous market behavior. There are several indicators available on Binomo, including Moving Average, Alligator, and Bollinger Bands.

When using the Binomo web version on your laptop, you will be able to choose from all available indicators. When using the mobile app, you will still be able to choose, however, your options will be limited. And when using the mobile browser version, you have to change your preference for the web page to the desktop version in your browser’s settings, to access all trading indicators.

Glossary

This is a Glossary of important terms in Binomo trading:

The Alligator indicator was developed by a famous trader, Bill Williams. It uses smoothed moving averages in 3 sets of five, eight, and twelve periods each.

Assets, also known as securities, are the commodities available for trade. You earn extra income on Binomo by predicting whether the price of a selected asset is going to rise or fall. 

Cashback is compensation for trading losses per week. It is always given on Mondays, for the previous week. However, it is only available to Gold and VIP customers. Gold customers get in some cases 5% while VIP customers get 10% .

Investment insurance is only available to select Binomo traders (for Gold and VIP accounts). When you lose funds on an insured trade, a percentage of the lost funds is returned to you.

Help Center

help center binomo

Help Center has answered a lot of frequently asked questions. Also, you can enter a keyword into the search bar at the top. All information relating to that keyword on the website will be shown in the results of the search. And if you want more, you can always contact the customer support team via support@binomo.com.

Follow the rules of the trading platform

The various trading opportunities on Binomo come with specific rules. It is important to keep these rules in mind and to adhere to them to prevent unnecessary losses of deposit. Ignoring these rules could lead to your account getting blocked permanently, upon which you will not be allowed re-entry into Binomo. All rules of the trading platform are contained in the Client Agreement and Privacy Policy, which should be read before registering.

Conclusion

Binomo continues to be a safe platform to trade and get extra income. With all the tutorial opportunities in place, it can possibly lead to successful trading. All you have to do is follow the rules and make trades only based on the results of analyses.

However, you should be aware that trading in the financial market is risky. You could lose your trading capital. Which is the more reason why you shouldn’t make trades without serious insight. Also, always manage your risk exposure, keeping it at a reasonable level.

Vishal Yadav Written by:

I graduated from Symbiosis International University, Pune in 2008. I developed an interest in trading. Apart from trading, I love to travel and have been to various countries around the globe.

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