Traders must know all available deposit and withdrawal methods to operate on the Binomo platform quickly and conveniently. This review will cover how to deposit and withdraw money from Binomo in Pakistan via bank transfers and e-wallets.
- Banks cards
- Bank card deposits
- What should I do if I cannot make a deposit using my bank card?
- How to complete the disconnected transaction?
- How to cancel the transaction?
- Perfect Money
- How to complete the transaction if it was disconnected or not deposited?
- How to cancel the transaction?
- Frequently Asked Questions (FAQ)
- Can I make a withdrawal to a bank card?
- What are the minimum and maximum withdrawal amounts?
- Can I withdraw in the currency of my home country?
- Are there any commission or withdrawal fees?
- What is the current exchange rate for conversion?
- Why does my withdrawal attempt show as “Failed”?
- Can I withdraw funds from my account before trading?
- Why do I have to wait to receive my money once I request a withdrawal?
- Can I close a trade before it expires?
- How do I go from a demo account to a real account?
The bank card most often used for deposits and withdrawals is Mastercard. It is functional in many countries, including Pakistan.
Depending on the currency of the account, Binomo only accepts deposits of a minimum of $10/€10, equal to about 2000 Pakistani Rupees. However, it could be decreased in specific countries or as part of promotions.
Bank card deposits
The suggested Binomo deposit method shown below will enable you to finish your transaction swiftly, whether you use a Mastercard.
Follow the instructions:
- Find the “Deposit” button in the top right corner of your Binomo account and hit it.
- The region must be selected from the “Country” drop-down menu.
- Select either a Mastercard at this point.
- Enter the deposit amount after choosing a card.
- The card number, cardholder name, CSC, and expiry date must be entered before clicking the “Pay” button.
- To complete the payment, you will need the confirmation code emailed to you.
- After your transaction is concluded, you will be taken to a page with all the details.
Although it is typically relatively quick to deposit money in Binomo, the time may differ depending on the operator. The Binomo customer support team is always available if you have any questions concerning the deposit time frames for your case.
What should I do if I cannot make a deposit using my bank card?
If you run into a problem during the depositing process in the Binomo app or website, try the following:
- Check to see if you have correctly specified your country of residence in the “Personal details” portion of your payment order and the “Profile” section of the mobile app. It ought to coincide with the place of your residence and card issue.
- Make sure you’ve picked the right card by checking it out (i.e., Mastercard).
- Ensure that the card number and other payment details are checked carefully.
- Check to see if the SMS confirmation code you provided was entered correctly, and if it was, try requesting and entering another code.
- Delete cache and cookies, or use a new browser or device.
The above list should help you troubleshoot the problem. If you are still unable to deposit, you can then contact customer care for help.
As technology advances, electronic wallets are becoming an increasingly common payment method. Binomo accepts e-wallet services in Pakistan. These are essentially electronic wallets where you can keep your funds and get them whenever you require them. Some can be used for free deposit into Binomo, while others charge a small transaction fee. Learn more about fees on the official website of your operator.
For additional information on how to withdraw money from your account and to familiarize yourself with all the withdrawal options, conditions, and limits, please read the Binomo Client Agreement and Binomo withdrawal policy before proceeding.
You can both deposit and withdraw funds from your account with these electronic wallets:
- Perfect Money;
Let’s take a closer look at each of them.
Here are simple methods for using CashMaal for deposits.
- Make sure you have an account at https://www.cashmaal.com before using this method.
- In the top right corner, click the “Deposit” button.
- Select the “CashMaal” method and “Pakistan” in the “Country” box.
- To proceed, select the deposit amount and click “Deposit.”
- Click the “Pay Now” button after entering your PIN and CashMaal login information.
- The funds you deposited were received. Select “Complete My Transaction” from the menu.
- It will provide you with a receipt for the payment after the transaction has been completed.
Note! For Binomo’s traders, the minimum depositin CashMaal and other e-wallets is PKR 2000.
How to complete the disconnected transaction?
Do this if a network failure occurs while your transaction is being processed:
- Visit the cashier page and select “CashMaal” as your deposit method.
- Choose the number of funds paid during your lost transaction from your CashMaal account.
- From the menu on the left sidebar, choose “Already Paid?”.
- The OTP number that was issued to your email should be entered. Click “Click here for resending Email”, pay attention to the CAPTCHA, then click “Verify Now!” to proceed if you did not receive it.
- Click the “Verify” button after entering the Transaction ID.
- Your Binomo account has now received the funds that you deposited. Select “Complete My Transaction” from the menu.
It will provide you with the payment receipt once the transaction has been completed.
How to cancel the transaction?
To cancel a transaction, follow the steps below:
- Please click “Cancel Transaction” in the left sidebar menu if you want to cancel the transaction while on this step.
- You are welcome to provide feedback regarding your cancellation. Click “Send” after entering the cancellation reason.
You should get a confirmation mailing about your cancellation.
This is how to deposit money from Binomo through Perfect Money:
- In the top right corner, click the “Deposit” button.
- Pick “Perfect Money” as your payment method, then select “Pakistan” under “Country”.
- Enter the desired deposit amount, then select “Deposit” from the menu.
- Click “Preview payment” after entering your Turing number, member ID, and password.
- The processing charge is subtracted. To complete the purchase, click the “Confirm payment” button.
- An email containing payment information will confirm your transaction.
- Your purchase was completed.
It will provide you with a receipt for the payment after the transaction has been completed.
The process of depositing funds to the Binomo platform is simple and fast. Follow the steps below to fund your trading account with Advcash:
- Open the website www.binomo.com and click the yellow “Deposit” button in the top-right corner.
- Specify your country and select Advcash from the deposit methods. Note that e-wallet is unavailable in some locations such as Pakistan.
- Select the amount to invest in Binomo. The minimum deposit is only $10.
- Press the “Deposit” button.
- In the new window, check the amount and tap “Go to payment”.
- Enter your email and password from the Advcash account and log in to continue.
- Choose the cash currency and click “Continue”.
- Tap the “Confirm” button to authenticate the transfer.
- A confirmation email will be sent to your address. To complete the deposit, follow the link inside it.
You will receive two notifications: the first is about the successful transaction, and the second is with the details of the completed payment. The confirmation of your deposit to Binomo can also be viewed in the “Transaction history” section.
How to complete the transaction if it was disconnected or not deposited?
If your transaction gets disconnected, this is how to complete it:
- Enter the Transaction ID from step 10 of the instruction on the Advcash “Already paid” page.
- Your payment was received in full. Go to “Complete My Transaction” and click it.
Afterward, your transaction should be completed.
How to cancel the transaction?
This is how to cancel a transaction on Advcash:
- Click “Cancel Transaction” in the left sidebar menu if you wish to stop the transaction.
- Press “Send” after explaining the payment cancellation.
Your transaction will then be canceled, and you’ll get a confirmation email.
Frequently Asked Questions (FAQ)
Let’s have a closer look at the often cases so you can find the solution quickly.
Can I make a withdrawal to a bank card?
Withdrawal to bank cards is not available for the moment. There is only one way to withdraw cash from your account in Pakistan through e-wallets. CashMaal, Perfect Money, or Advcash – choose the most appropriate for you.
What are the minimum and maximum withdrawal amounts?
PKR 2000 is the minimum withdrawal amount from Binomo for Pakistan.
There is a maximum withdrawal amount of:
- No more than $3,000/€3,000 (or a comparable amount to PKR) daily.
- A maximum of $10,000/€10,000 (or a comparable amount to PKR) every week.
- A maximum of $40,000/€40,000 (or an equal amount to PKR) every month.
When the transaction is completed, a withdrawal proof email will be sent to you.
Note! Please be aware that these restrictions could change depending on the payment source.
Can I withdraw in the currency of my home country?
When you sign up for an account, you will be given the option to have it denominated in either dollars ($), euros (€), or the currency of the country in which you are currently residing. Traders who have chosen the currency of their country can make deposits and withdrawals from Binomo. However, it will be converted at the rate set in your country.
Suppose the currency of the payment method you’re using and the currency of your Binomo account are not the same. In that case, the currency of your funds will be translated for you automatically. The prevailing rate in the market determines the conversion rate.
Are there any commission or withdrawal fees?
Withdrawals from your Binomo account are not subject to any commissions or other costs.
However, if your Binomo account and the payment method you choose use different currencies, the payment service providers who process your transactions may charge you a currency conversion fee.
Be advised that you may be subject to a commission of up to 10% if, after making a deposit, you decide to withdraw your funds before engaging in any trading.
What is the current exchange rate for conversion?
If the currency of the payment method is not the same as that of your Binomo account, the value of your funds will be converted automatically. While processing your payment, the payment service provider may also convert your funds. The prevailing rate in the market determines the conversion rate.
Please be advised that some payment service providers may charge you a commission when exchanging funds for their services under certain conditions. In most cases, the amount of the commission is made clear either on the supplier’s website or at the time of the transaction.
Why does my withdrawal attempt show as “Failed”?
When you notice a “Failed” status when withdrawing money, it indicates that the payment provider was at fault. One of two things could be the root of this problem:
- Your payment information was entered incorrectly.
- Technical difficulties with the payment processor.
In some circumstances, the “Cashier” section and the “Transaction History” page contain an error description (“Balance” section for mobile app users). Payment service providers do not always identify the root of the issue, though.
You can submit another withdrawal request or get in touch with the customer service department by live chat or email at email@example.com.
Can I withdraw funds from my account before trading?
You can withdraw funds after making a deposit, even if you did not engage in trading.
On the other hand, if you withdraw your funds before your trading turnover (the total return amount of all trades) equals twice the amount of your initial deposit, you may be subject to a 10% commission fee.
This fee is only assessed in exceptional circumstances as a result of the anti-fraud efforts that the company has made.
Why do I have to wait to receive my money once I request a withdrawal?
Binomo tries its best to handle all withdrawal requests as promptly as possible when you have not exceeded your withdrawal limit. Your account status will determine how long your withdrawal time takes.
Traders with Standard status can wait up to three days, Gold status up to 24 hours, and VIP status up to 4 hours. These intervals are kept as brief as feasible.
Depending on the payment provider, crediting funds to your payment method can take anywhere from a few minutes to three business days. It is possible that it could take up to a week in certain instances owing to holidays, the requirements of the payment provider, and other factors.
If you have been waiting for more than a week, please get in touch with Binomo by either live chat feature or by sending an email to firstname.lastname@example.org.
Can I close a trade before it expires?
When using the Fixed Time Trades mechanism, you are required to specify the exact time at which the deal will be ended, and it is not possible to end the trade before the specified time.
How do I go from a demo account to a real account?
To switch between accounts, take these actions:
- Click on the account type link in the top right corner of the site.
- Simply select “Real account”.
- The platform will let you know when you start utilizing real money. Press “Trade”.
But remember, you have to meet the minimum deposit in Binomo ($10/€10/PKR2000).
Once you start trading with your real account, the risks of losing funds become real, so you have to consider that.
It is now simple to withdraw money from your Binomo account or transfer money using various methods, regardless of where you are in the world, including Pakistan.
Bear in mind, even though these conditions exist, that trading inherently involves risk. It is recommended that you learn and practice using the Binomo demo account, which provides you with a free $1000 virtual balance and may be used for both studying and practicing. Practice making trades with virtual funds first, then go on to the real ones.