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Is Binomo safe? India Broker Review
Binomo is an online broker through which you can trade cryptocurrencies, currencies, stocks, and more. Binomo makes it convenient to trade assets and securities even from the comfort of your home.
Binomo has established itself as a reliable trading partner. It is a category “A” member of the International Financial Commission. This status guarantees it’s quality of service, transparency of relations, and protection by a neutral and independent dispute resolution organization.
Binomo was established in 2014. Its parent company (Dolphin Corp.) is registered and located in St Vincent and the Grenadines. It struggled in its formative years due to limited fintech tools. However, it transformed in 2016 and has evolved into a highly reliable trading platform.
Registration and sign in
Registration is a pretty smooth process. All you have to do to create a Binomo login is;
- Open the Binomo website
- Enter your email address
- Then, create a strong password
- Then, you select your preferred currency.
- You have to indicate that you have read and accepted the terms and conditions.
- Finally, you click the “sign up” button.
There are four types of accounts available. It is understood that clients have different financial capabilities and budgets. Binomo’s list of accounts was created to accommodate every economic class.
Signing up gives you access to a $1,000 Binomo demo account. It is pseudo-capital with which you can conduct real trades in real-time. It helps you get acclimatized to the technicalities of trading. And when you use it up, it gets replenished.
The standard account is the first real account. It requires a minimum deposit of only €10. With the standard account, you will enjoy high profitability levels (85% if your forecast is spot on) and can get your withdrawals processed as soon as you want. Your withdrawal may take up to three days, depending on the payment method you choose. However, you won’t get insurance or a personal manager.
The gold account requires a lot more deposit. The minimum deposit is €500. However, it earns you a lot of perks. You will enjoy insurance and a personal manager. Also, its profitability level is higher (90% in cases of correct forecast) and you will still get a cashback of 5%. To top it off, your withdrawals will be processed with speed. As soon as 24 hours with some withdrawal options.
The VIP account is the most privileged account type available. Its profitability is the same as the gold account type but it allows you to get 10% cashback. Also, your withdrawal requests can be processed in 4 hours, depending on the withdrawal option you prefer. However, its most important perk is the occasional to risk-free trades. In risk-free trades, earnings get added to your account, while losses are not deducted.
How to use Binomo
When you log in, you will see a linear chart on the website’s homepage. It shows the price changes of named assets. You have to analyze the chart to predict future price changes. You can then open trades based on your predictions.
How do you open a trade:
- Choose the asset. Pick one or more assets of your choice.
- Choose the amount. You then decide how much you want to invest in the trade.
- Choose the time. Choose how long you want the trade to run for.
- Open the trade. If you predict a negative price change, click the down arrow. And if you predict a positive change in the price of the asset, click the up arrow.
- Close the trade. Wait for the time you set to run out. If your prediction was right, you will earn a profit of 90% which will be credited to your account straight away.
Trades can be easily executed on the Binomo app. Also, you can get notifications on the go. It is available on Google Play and the iOS app store.
The Binomo APK is an alternative way of installing the Binomo trading app on your android device.
Binomo real or fake
You might want to know whether Binomo is legal in India or if it is safe. You have nothing to worry about. Dolphin Corp (Binomo’s parent company) is duly registered under the laws of Saint Vincent and the Grenadines (RN: 25151 IBC 2018) and its office is on the First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St.Vincent and the Grenadines.
Also, Binomo is a category “A” member of the International Financial Commission. This status guarantees the company’s reliability and professionalism.
Why you should try Binomo
Below are a few reasons why you should try Binomo;
- You will get access to trade a wide range of financial assets.
- You will receive some of the most advantageous trading terms and investment options on the market.
- They provide analytical services for client trading.
- The platform is very convenient for both experienced and novice traders.
- You will receive access to helpful Binomo tutorials.
- They have an efficient and highly professional client support staff that you can contact through the live chat function on their website or through email.