How to start trading on Binomo for beginners

Suppose you are a beginner and decide to start trading on Binomo. In that case, this article will help you quickly register and verify your account, deposit and withdraw funds, and understand how to trade on the platform.

How to register an account in Binomo?

Binomo is one of the most used trading platforms worldwide, known in more than 130 countries. If you want to join the millions of Binomo users, create an account first. In the review, we will go over all the details of the registration process on the Binomo website and app. Read on to find out how to sign up and log in to Binomo using various methods.

Register with an email

Here is a step-by-step guide on how to open a Binomo account through email:

1. Enter www.binomo.com on the web.
2. Click on the “Sign-in” button in the upper-right corner.
3. Enter your email address and come up with a secure password.
4. Carefully select the currency you want to trade in. Note that it cannot be changed after registration on Binomo.
5. Go through the terms of services carefully and check the box to agree. Do not skip this step, as breaking the rules may result in your account being banned.
6. Click “Create Account”, and after a while, you will receive an email asking you to confirm your address. Follow the link inside it to complete the sign-up process on Binomo.

You can now sign in to the platform using your email id and start trading training on the Binomo demo account or switch to a real one immediately.

Register with a Facebook account

You can also sign up for Binomo through your Facebook account, and here is how to do this:

1. After clicking “Sign-in”, push the Facebook icon.
2. In the window that opens, enter your email and password to access the social network.
3. Click “Login” and grant the trading platform access to your name, email address, and profile picture.

You will be automatically redirected to Binomo, and the registration process will be complete.

Register with a Google account

There is also an option to use a Gmail id to sign up for Binomo. You only need to follow three simple steps:

1. Find the Google icon on the Binomo registration form and click on it.
2. In the pop-up window, enter the email address associated with the account and click “Next”.
3. Specify the password, and you will be automatically taken to the Binomo demo account.

You can now sign in instantly by clicking on the Google icon to practice on a Binomo demo account or dive into real trading.

How to register on the Binomo iOS mobile platform?

You may download the official Binomo mobile app from the App Store if you own an iOS device. The mobile software is easy to navigate and offers the convenience of trading on the go.

The registration panel will automatically open on the first visit to the Binomo app. The process is similar to the web version: just enter an email and password, select a currency, read and agree to the Binomo terms and click the Sign-up button. If you have already created an account on the Binomo website, just sign in to the app with your id.

How to register on the Binomo Android mobile platform?

Binomo also has an application for Android users that you can download from the Google Play Store, Galaxy Store, Apptoko, AppGallery, and Aptoide. Unlike the website, it does not require high internet speed to work.

To sign up for the Binomo platform through any Android device, follow the simple steps above. If you have any difficulties with the registration process, you can always write to support@binomo.com.

How to register on the Binomo mobile web version?

The mobile web version of Binomo is not an app. You can trade by accessing the platform through a browser on your phone/tablet. The Binomo platform allows you to choose where to trade. You can use the web or mobile version or switch between them. To sign up for Binomo, you should repeat the steps described above: enter your email and password, select a currency, check the “Client Agreement” box and click “Create an account”.

How to verify an account on Binomo?

To join the millions of Binomo traders, you first need to create an account on the platform. Also, the correct step would be account verification, which will open access to many functions, including the withdrawal of funds. Below, we shall discuss how you can verify your identity and payment method.

How do I verify my identity?

Verification is a process aimed primarily at securing your Binomo account and preventing funds from falling into the hands of strangers. Binomo may ask you to verify your identity anytime after registration. If this happens, you will see a pop-up notification on your screen and the “Verification” item on the menu. Information about the verification process will also be sent to your email.

Here are the steps you need to follow to complete the verification process:

1. Click “Verify” within the pop-up message.
   
2. The “Verification” page will appear. You should first verify your identity by clicking the button next to “ID Card”.
   
3. Tick the two check boxes (agreeing to terms and conditions and consenting to process your data) before beginning the verification, then click “Next”.
   
4. Press the drop-down menu to select the country of issue for your documents, followed by their type. Note that document types to verify vary as per country.
   
5. Upload the doc selected for verification in jpg, pdf, or png format. If it has two sides, begin with the front, then upload the backside. Note that the document must be at least one month valid from the date you upload it. All content on your ID should be readable and all corners visible. Click “Next” when finished submitting.
   
6. When you submit your documents, you can go back to the verification page by pressing the “OK” button.
   
7. Your ID verification status will automatically be changed to “Pending”. Verifying takes up to ten minutes, but the process can take several days in exceptional cases.
   

When your identity verification is complete, the status will change to “Done”, and you can begin verifying your payment method. You shall immediately receive the “Verified” status if it does not require verification.

Verification of a bank card

For Binomo to protect the funds in your account, you must verify that the card you use to deposit and withdraw funds belongs to you. Once you are through with identity verification, follow these instructions to verify your bank card:

1. Select the payment method you want to verify on the “Verification” page. In this case, it is a bank card. Verification of payment documents takes place after your identity is confirmed.
   
2. Upload your bank card photo’s front side, clearly showing the holder’s name, card number, and the date it expires in jpg, pdf, or png format. Go back to the verification page by pressing “OK”.
   
3. The status will change to “Pending”. Verifying a bank card may take at least 10 minutes.
   

You will receive a notification after verification is completed, and your status will change to “Verified”. Additionally, you will be allowed to withdraw funds.

How do I verify a non-personalized bank card?

Verification of a non-personalized bank card will also require you first verify your identity. Once done, you can complete the verification of the bank card you use, as shown below:

• Select a virtual/unnamed bank card in the “Verification” window and click “Verify”.
  
• Upload the front side of your card in jpg, pdf, or png format, ensuring that its expiration date and number are visible.
  
• Add your bank statement photo, showing your name, stamp, and issue date. This document for verification should not be more than three months old.
  
• Press “OK” to head back to the verification page once you submit your documents.
  
• Your bank card’s verification status will change to “Pending”, and you must wait for it to complete. Binomo usually spends no more than 10 minutes verifying.

Once the verification process is complete, you can withdraw your funds from the platform to this card.

Verify a virtual bank card

To complete the verification of your virtual bank card, just do the following:

• Select your virtual bank card on the “Verification” page, then press “Verify”.
  
• Take a screenshot of your virtual bank card for verification and upload it. Ensuring its first 6 and 4 last digits, expiration date, and cardholder name are visible and readable.
  
• Press “OK” when your document is sent.
  

It usually takes 10 minutes to verify a virtual bank card. Once the verification process is completed, you will receive a notification, and the payment method status will change to “Done”.

Note! The screenshot must not be edited, or your card will fail verification.

The Binomo platform is constantly verifying the accounts of its users. Verification is aimed at protecting your data and funds from fraudulent activities. At the same time, you don’t have to spend a lot of time verifying.

Even if you verify your Binomo account, trading is still associated with the risk of losing part or all of your investment. Despite the importance of verification, only training and practice on a demo account will help reduce this risk.

How to deposit in Binomo?

Binomo aims to create a world-class trading platform for users from different countries. Therefore, various payment methods are available on the online platform for depositing and withdrawing funds. Let’s look at what deposit methods are available in different countries to add money to your Binomo account and how to avoid possible problems.

How to deposit with a bank card?

Depositing funds to your Binomo account via any bank card is pretty straightforward. You may use either a personalized bank card (with your name) or a non-personalized bank card (without your name). Moreover, you may even use a card with a different currency than the one used on your Binomo account (INR, KZT, and others).

Now that you are ready to deposit money in a Binomo account, you may follow this simple guideline to move further with it:

1. Open your Binomo account dashboard and the “Deposit” button.
   
2. Click on it and use the drop-down menu to select your “Country” or the region.
   
3. Choose your card service provider from the list, such as VISA or MasterCard.
   
4. Now you need to select the deposit amount. You may choose a recommended amount or custom type as per your requirement.
   
5. Fill in the essential card details: сardholder name, number, CSC, Expiry date.
   
6. Click “Pay.”
   
7. You will receive a push notification or confirmation code via text message on your mobile. Enter it to complete the transaction.

Wait for a few moments for the transaction to be completed. You will be redirected to the page showing your transaction details. Get back to your dashboard to put those funds into action. If you have a problem depositing funds on Binomo, contact support.

Note! You may track your transactions and/or check the status of your transactions by clicking on the “Transaction History” button.

Remember that while you may be able to use a non-personalized bank card to deposit funds into your Binomo account, you need to confirm ownership of the card. For this purpose, you may need to provide one of the following additional documents to Binomo support:

1. Bank reference with official signature/stamp.
2. Bank statement issued by your bank with an official signature/stamp.
3. Screenshot from the bank app or website confirming that you own the account.

Binomo allows free deposits, i.e., without fees, and funds are usually reflected in your account within an hour. In some cases, it may take several hours or even days for funds to be credited to your account.

If you encounter such a problem, contact your card provider and read about specific rules related to payment processing in your country. In almost all such cases, the delay is from the bank, often due to country-specific regulations.

Note! You need to know that the en-version of the site is available for all regions.

The following paragraphs shall discuss cash deposit instructions related to specific regions.

India

Binomo is especially popular in India. Traders can deposit on Binomo with Mastercard/Maestro by following the instructions above. For additional deposit options available to Indian traders (e-wallets, internet banking), see the following sections.

Turkey and Near East

If you have Turkish citizenship and a valid Turkish IP address, you may use these payment options: VISA and Mastercard / Maestro to deposit funds into your Binomo account. All other steps while depositing funds are similar to those discussed earlier.

It is also worth paying attention to three essential points when replenishing funds:

1. You are allowed only to make 5 transactions in a calendar day.
2. Wait at least 30 minutes after your first deposit to make another one.
3. While replenishing your account, you can use only 1 Turkish ID.

The same applies to other territories in the Near East.

Arabic countries

Trading is widespread in Arab countries. Many Binomo accounts are held and operated by Arab residents, such as those in Qatar, the UAE, and Saudi Arabia. You may choose from several bank card issuers to complete deposit transactions in Arab territories. They may include Mastercard / Maestro.

For further deposit options, refer to later paragraphs. You must follow the same steps discussed earlier on the platform to deposit cash into your Binomo account.

Latam countries and Brazil

Suppose you are a resident of Latin-American countries, such as Mexico, Brazil, and Argentina. In that case, you may be able to deposit funds in Binomo using any of the cards provided by your local bank. Again, the card may either be personalized or non-personalized.

Please refer to later sections for further deposit options, such as an e-wallet. To add money to your Binomo account, repeat the steps above.

Note! Not all countries in Latin America have the option to deposit with Binomo using a bank card.

Ukraine

Citizens of Ukraine can replenish their Binomo accounts using bank cards. All you need is a valid bank card issued by your local bank and backed by cards from major brands such as VISA or MasterCard.

To make a deposit using a bank card issued by a Ukrainian bank, follow these steps:

1. Click on the yellow “Deposit” button next to the profile icon.
2. Select “Ukraine” in the “Country” section.
3. Choose the deposit method: VISA or MasterCard/Maestro.
4. Enter the amount for the deposit.
5. Fill in your bank card details (Card Number, Expire Date, CVV2) and click on the “Pay Now” button.
6. Confirm the payment with a one-time password received in an SMS message.

Once the funds have been credited to your Binomo account, you will be redirected to a page with the payment amount, date, and transaction ID.

Kazakhstan

Kazakhstan bank card holders can also deposit funds to their Binomo accounts. They can do it with Mastercard/Maestro and VISA/MasterCard P2P.

If you choose the second option, follow these instructions for depositing funds on Binomo:

1. Go to your profile on the site www.binomo.com and select the “Cashier” section.
2. Click “Deposit funds” and click on “VISA/MasterCard P2P”.
3. Enter the amount and click “Deposit”.
4. You will be redirected to the payment system page, where you must select a bank from the list.
5. Click “Confirm” and “Payment completed” (you have 25 minutes for this process).

Note! You can increase your deposit amount with a bonus or coupon. The amount of the bonus depends on the status of your account.

How to deposit via e-wallet and crypto wallet?

Along with bank cards, Binomo also provides several other deposit options, including e-wallets and crypto wallets. Some of these popular methods are further discussed below.

Crypto wallets

If you own a crypto wallet such as Ethereum or Binance Pay, you may use it to deposit funds to your Binomo account. Send a payment request to www.binomo.com through the “Cashier” section or the mobile app through the “Balance” section.

The following quick guide can be helpful when funding your account via a crypto wallet:

1. Click on “Deposit funds” and choose your country from the list.
   
2. Among available payment methods, choose your crypto wallet.
3. Enter the amount you wish to deposit into your Binomo account.
   
4. Choose your desired Coin and checkout.
5. Check the deposit amount in cryptocurrency and the address to pay.
   
6. Copy this data before leaving the page.
7. Complete the transaction in your crypto wallet.

In most cases, funds are credited to your account within an hour. However, the exact processing time may depend on the number of required blockchain confirmations and other factors.

Depositing money into your Binomo account from a crypto wallet can cause some issues. These tips will help you troubleshoot:

• Check that you are transferring coins from the right crypto wallet; otherwise, they will not be returned.
• You have 15 minutes to send the amount to the address on the invoice. If you have sent an incomplete amount, then before the expiration of these 15 minutes, you can send the rest. If this time has expired, do not send funds! You will receive an email with refund instructions.
• If you sent more than the invoice, the difference would be refunded to you. You will receive an email with instructions on how to get a refund.

If you face any problem with your deposit or refund, contact support@binomo.com.

Note! Please note that the provider takes a commission for the refund.

Skrill

If you have Skrill, you may use it to deposit funds by using the following steps:

1. Click on the “Deposit” button and choose your country.
2. Choose payment method as “Skrill”.
3. Enter the deposit amount and click “Deposit”.
4. Copy Binomo’s Skrill email account and click “Next”. You can also view the GIF instructions by clicking on “How to deposit”.
5. Enter a Skrill transaction ID. For this, open your Skrill account and click the “Send” button to transfer funds to the Binomo account that you copied the address.
6. Click “Confirm”.
7. You will receive confirmation of your transaction within a few moments.

You can also view information about your deposit on the “Transaction history” page in your account.

Neteller

Many traders consider Neteller one of the most popular deposit methods on Binomo. Let’s see how to deposit funds into your account using this e-wallet:

1. Click “Deposit”, select your country, and choose “Neteller” as your payment method.
2. Specify the deposit amount and click on the “Deposit” button.
3. Copy your email address and click “Next”.
4. Log in to your Neteller account and select the “Money Transfer” section.
5. Paste the copied email address and click “Continue”.
6. Enter the amount you chose in Binomo and click “Continue”.
7. Check the details of your transfer and click “Confirm”.
8. Enter your Secure ID to complete your transaction and click “Confirm”.
9. Return to the Binomo page after the “Money Sent” message appears.
10. Paste the transaction ID provided in your Neteller account and click “Confirm”.

Wait for a message that the payment was successful. Now you can start trading on a real account.

AdvCash

AdvCash is one of the most popular e-wallets in many countries, including Latin America. Let’s look at how to deposit funds to Binomo using the AdvCash wallet quickly:

• Click on the “Deposit” button and choose your country in the “Сountry” section.
• Select the payment method AdvCash.
• Enter the amount and click “Deposit”.
• Click on the “Go to payment” button when you are redirected to the Advcash payment page.
• Log in to Advcash with your email address and password.
• Select the currency in your AdvCash account and click the “Continue” button.
• Confirm your transfer.

You will receive a message confirming a successful transaction.

Turkey (Hizli Papara)

Binomo offers Turkish traders several deposit options with e-wallets: Payfix, Papara, Webmoney WMZ, Jeton Wallet, and Hizli Papara. The last one is the most popular in Turkey. Consider how to deposit funds on Binomo using Hizli Papara:

1. Click the “Deposit” button and select your country, Turkey.
2. Choose your preferred payment method, Hizli Papara.
3. Enter the deposit amount and click “Deposit”.
4. Click “OTO PAPARA” on the newly opened page.
5. Enter your name and surname in your Papara account.
6. Click the “YATIR” button.
7. Enter the SMS code sent to your mobile phone and confirm the action.

Soon a message will appear on the screen that the payment was successful. You may go to Binomo transaction history to see details about all your previous transactions.

India (PayTM)

PayTM is a popular payment method in India. You may use the following steps to make a Binomo payment via PayTM:

1. Click the “Deposit” button and select your country, India.
2. Choose your payment method as “PayTM”.
3. Enter additional information: Phone, City, Address.
4. Click “Deposit” after entering the deposit amount, such as INR 4.000.
5. Now log in to your PayTM account.
6. Choose your card. Meanwhile, you will receive OTP. Click “Confirm” after entering the OTP.
7. Your transaction will be completed within a few moments.

Similarly, you can deposit funds using other e-wallets and crypto wallets available on Binomo.

How to deposit via internet banking?

You may be able to deposit funds via bank transfer, especially if you are using Binomo in India, Pakistan, Indonesia, and Brazil. Following is the relevant information regarding some of the most popular internet banking methods.

Colombia

If you are from Colombia and wish to transfer funds via internet banking, simply use the following steps:

1. Click on the “Deposit” button and select your country, Colombia.
2. Choose a payment method as “Bank Transfer”.
3. Enter your deposit amount and click the “Deposit” button
4. Enter the required information (city, phone, and other data) and click “Pay”.
5. You will be redirected to the payment page of your chosen bank. Fill out the form and confirm the payment.
6. Wait for a few moments for your payment to be processed.

You can check the transaction status on the “Transaction history” tab in Binomo.

India

A range of methods is available in India for transferring funds via internet banking. The following payment methods are available for traders from India: Upi, Indian Exchanger, NetBanking, and IndianCash.

While the steps are somewhat similar to those discussed in the previous section, the summary is provided below:

1. Go to the “Deposit” page, select your country “India” and choose the payment method, for example, NetBanking.
2. Enter your amount and additional information (Phone number, Bank name).
3. Click the “Deposit” button.
4. Enter and Re-enter your registered mobile phone number and click “Login”.
5. Use the OTP that was sent to your phone number.
6. Enter your card PIN and click “Login”.
7. Check the specified payment data’s correctness and click the “Pay” button.

That’s all; after the payment is completed, you can return to the Binomo platform and start trading if the transaction was successful.

Brazil

If transferring via internet banking in Brazil, you may choose from a number of choices, such as Pix, Bank Transfer, Itau, Bradesco, Boleto Rapido, Santander, and Internet Banking / Cash. The general instructions remain the same as discussed in previous sections.

Let’s see how to add money to Binomo using Boleto Rapido:

1. Click the “Deposit” button, select the country “Brazil” and the payment method “Boleto Rapido”.
2. Enter your personal data: name, CPF, CEP, email address, and phone number after being redirected to the page of the payment service provider.
3. Click “Confirm”.
4. Click “Safe PDF” or copy the barcode.
5. Log into your bank account app, and click “Pagamentos”.
6. Click “Digitar Números” and enter the Boleto numbers.
7. You will be redirected to a confirmation page. Verify that the information is correct and click “Confirmar”.
8. Check if the sum is correct and click “Próximo”.
9. Click “Finalizar” and enter your 4-digit PIN.

It remains to wait for the receipt of funds to your Binomo account and start trading!

Note! When using “Boleto Rapido”, it may take up to 3 days for funds to be credited to your Binomo account.

South Africa

You may choose any local banks to deposit funds to Binomo: Capitec, FNB, Absa, Investec, Standard, NedBank, African Bank, Tyme Bank, Old Mutual, Bidvest.

Capitec and FNB are among the most popular payment methods in South Africa. Let’s see an example of Capitec how to deposit funds on Binomo:

1. Go to the “Deposit” tab, select your country and choose the “Capitec” payment method.
2. Choose your deposit amount and click “Deposit”.
3. Sign in to your Capitec bank account. Enter your Username and Password and verify the authentication notification you receive on the banking app.
4. In case you have more than one savings account, you will be prompted to choose the account that you wish to use for funds transfer.
5. Ensure to enter your mobile number, as it will be used for sending proof of payment.
6. Click on the “Send” button.

As soon as the payment is complete, you will be redirected to a “Payment Successful” page along with the transaction details.

Fees

Binomo does not charge fees or commissions when you deposit funds into your account. Moreover, there is no subscription fee when trading on the Binomo platform.

At the same time, the minimum deposit of Binomo is only $10 ($5 or the equivalent amount in the INR for traders from India). You can also use the bonus and increase the deposit amount when replenishing your account.

However, some payment service providers may charge transfer fees, especially if you deposit in a currency other than the currency of your Binomo account. The payment service provider may charge a conversion fee.

Be sure to visit your payment service provider’s website to find out what fees they charge. As a rule, they make up a small percentage. But it is essential to know this before depositing on Binomo so that you are not surprised by a sudden charge for transferring funds.

How to trade on Binomo online?

Before talking about effective trading on Binomo and investment opportunities, it is essential to understand how to reduce the risk of losing funds. Therefore, every trader should know how the Binomo trading platform works, from choosing assets to setting up charts.

What is an asset?

An asset is a financial instrument that can be used for live trading. Examples of assets include currency pairs, indices, commodities, and equity securities, to name a few. The complete list of assets available for trading on the platform can be seen in your account in the upper left corner next to the inscription “Binomo”.

The number of assets available for online trading depends on the type of your Binomo account:

• Standard – more than 40;
• Gold – more than 60;
• VIP – more than 70.

The price of assets is constantly changing depending on the market situation. The task of traders is to analyze it and forecast how the price of an asset will change at a specific time.

To select the asset, for example, the EUR/USD currency pair, follow these steps:

1. Click on the asset in the upper left corner of the platform to see the list of available assets.
2. Choose one of the assets to trade. The assets available for your account type (Standard, Gold, or VIP) are divided into sections.

If you’re using the web version of a platform, you can trade on multiple assets at once. Click on the “+” button to the left of the asset section. The asset you choose will add up.

Note! Some assets are only available on certain days of the week.

How to start trading?

Having the necessary capital is one of the steps to start trading on Binomo. But the availability of funds is not enough to ensure positive results. It is important to understand how Binomo works, what trading tools it provides, and how to use them effectively.

That is why beginners should first try their hand at a demo account before moving on to real investments and trading on Binomo. It is a safe environment with virtual $10000 where you can learn how to trade on the platform. At the same time, the demo account allows you to use live charts for trading.

Note! Binomo provides its service in Hindi, English, and others (except Malayalam).

How does Binomo work?

The Binomo investment platform is available in India, Nigeria, and more than 130 countries worldwide. Here, a trader can invest and trade regardless of their experience. And all thanks to the convenient and straightforward FTT system (Fixed Time Trades).

Let’s take a look at how to invest and trade on Binomo:

1. Select an account type. Before live trading, do not forget to switch from a demo account to a real one.
2. Select an asset from the list available for your account type. The percentage indicated next to the asset determines its profitability. The higher it is, the more you will get from the trade amount in case of a correct forecast.
3. Set the trade amount. The minimum trade amount is $1 or the equivalent in your account currency. The maximum trade amount is $1000. The safest way for beginners is to start trading on Binomo with a small investment to test the market and get comfortable.
4. Select an expiration time of the trade. It is time the trade ends. In the “Time” section, you can set the best time for your trade from 1 to 60 minutes. In the right column, you will see 1-minute periods; in the left column, you will see 15-minute periods.
5. Make a forecast. Analyze the asset price movement on the chart and make your forecast whether it will go up or down. Click on the green button if you are sure that the asset’s price will go up or on the red button if you are sure that it will go down.

If your forecast is correct, you will get additional income from the trade (the invested amount and a percentage of it). Otherwise, you will lose your investment.

Note! The profitability of the trade depends on the type of Binomo account: up to 85% for Standard, up to 90% for Gold/VIP.

The best time to trade

Day trading is perfect for you if you have learned how to manage your capital, identify trends, and instantly react to changing market conditions.

At night, the market is calm, so for beginners, it is the best time to trade. The chosen strategy also affects the trading time. For instance, the “Night channel” strategy can work at night, but it will bring losses during the day.

History of trades

The Binomo platform allows you to track your trading activity. You can find information about completed trades in the “Trades” section. The history of trades is available in the Binomo web version and the mobile app.

To view the history of opening and closing trades, follow these steps:

• In the web version, select the clock icon and click on the preferred trade.
• In the mobile app, open the menu and select the “Trades” section.
• In the new Android app version, tap on the clock icon in the menu bar at the bottom.

Trade history is a valuable tool to help you track and analyze your trading progress. All this will eventually improve your trading skills.

Is there trading software?

You can trade leisurely on your PC on the Binomo platform at home or use the mobile app to invest and trade on the go. The mobile software is in no way inferior to the web version of the platform, while it is available wherever there is an Internet connection.

Note! You can download the mobile app on the official website www.binomo.com using the QR code or the Google or Apple app stores.

Read a chart

The chart displays the change in the price of an asset in real-time; therefore, it is an important trading tool for a trader. The platform has four types of charts: Bar, Candle, line, and Mountain. You have to choose a chart type that will allow you to analyze the market, invest and trade in real-time effectively.

Let’s see how to customize the chart according to your preferences:

• Click the chart icon in the bottom left corner of the platform and select a chart type. As a rule, the Candle chart is the most informative and useful.
• Click the time icon and set the time frame, which displays the frequency of new price changes in the asset.
• Adjust the chart’s scale by pressing the “+” and “-” buttons or scrolling the mouse. If you use a mobile application, zoom in and out on the chart with your fingers.

Note! You can select the chart type, time frame, and indicators in the new Android app version on the panel above the chart.

Use indicators

Indicators are another useful trading tool for chart analysis. They clearly show how the market and the price of an asset are changing. Indicators work well with strategies to help traders make correct forecasts.

There are various indicators on the Binomo trading platform: RSI, Moving Average, Bollinger Bands, and others. You only have to choose which indicators are best for their purposes.

Consider how to set up indicators on Binomo:

• Click the “Trading tools” icon in the lower-left corner of the platform.
• Click on the indicator you need.
• Customize it as you wish and click “Apply”.

You can see all active indicators above the list. If you use the mobile app, they are displayed on the “Indicators” tab.

Despite the variety of trading instruments and demo accounts for practice, it is essential to remember that trading always carries the risk of losing funds. Only improving your trading skills and the ability to use the strategies and functionality of the platform correctly will reduce this risk.

How to withdraw from Binomo?

This review will help you find answers to questions about withdrawing funds from Binomo: payment methods, withdrawal options, conditions, limits, and time.

Binomo withdrawal methods

Among the most popular topics traders want to know before registering on a trading platform is the possibility of withdrawing funds. That’s why Binomo details the withdrawal process for India and other countries in the Help Center, proving their concern for users.

Among the questions of interest to beginners, you can find the following:

1. How to withdraw money from Binomo in a bank account?
2. What is the minimum withdrawal amount?
3. What is proof of withdrawal?
4. Is there a withdrawal limit?

But most of all, traders are interested in withdrawal options. Binomo provides various methods by its withdrawal policy. Traders can withdraw funds using bank cards, e-wallets, or bank transfers.

Bank Card

This withdrawal method is available only to users from Ukraine and Kazakhstan or users whose cards are issued in these countries. Let’s find out how to withdraw money from Binomo to a bank card, personalized or not.

How do I withdraw funds to a bank card?

These steps will help you withdraw funds from Binomo:

1. Click on the profile icon and select the “Cashier” section on www.binomo.com.
   
2. Tap the “Withdraw funds”.
   
3. Enter the amount you wish to withdraw.
4. Choose your preferred withdrawal method: Visa, MasterCard, or Maestro bank cards.
5. Click the “Request withdrawal” button.
   

You will receive a message once your request is confirmed. It serves as your withdrawal proof.

If you are using the Binomo app to withdraw funds, the steps are pretty much the same. You need to open the left side menu, select the “Balance” section and click the “Withdrawal” button.

If you are using the new version of the Android app, click on your Profile icon, go to the “Balance” tab, and then click on “Withdrawal”.

Withdrawals can be credited to your bank card within 12 hours or more, depending on the payment methods you choose and the status of your account. Sometimes this period may be extended up to 7 business days due to your bank’s withdrawal policy or other reasons beyond Binomo’s control.

To track the status of your withdrawal request, go to the “Cashier” section and find the “Transaction history” tab if you are using the web version or the “Balance” tab if you are using the Binomo app.

Note! You can continue to trade while your withdrawal request is being processed.

How do I withdraw funds to a non-personalized bank card?

Non-personalized bank cards do not have the cardholders’ names, but they are used for cash withdrawals. If you are a non-personalized bank card holder, enter your name as specified in the agreement with your bank, and then follow these steps:

1. If you are using the web version, tap on your Profile icon and look for the “Cashier” tab in the dropdown menu. Tap the “Withdraw funds” button.
   If you are using the mobile app version, find the “Balance” tab on the left side menu and click the “Withdraw” button.
   If you are using the new Android app version, click the Profile icon, click on the “Balance” tab and then click “Withdrawal”.
2. Enter the required details, such as the amount you wish to withdraw and the bank card type you are using, e.g., Visa, MasterCard, or Maestro.
3. Click “Request Withdrawal”.

You will receive a notification that your withdrawal request is being processed. Remember that you can trade and enjoy other platform features while waiting for your withdrawal.

To track the status of your withdrawal request, you can go to the “Cashier” section and click “Transaction history” if you are using the web version. In the mobile app version, go to the “Balance” tab.

Note! You can withdraw funds only to those bank cards from which you replenished the deposit.

E-wallet and cryptocurrency

All traders who have deposited an amount in their accounts can withdraw funds using their e-wallets or BTC/LTC wallets (for bitcoin). The most popular e-wallet options include Skrill, Perfect Money, and Advcash. Withdrawal from Binomo for traders living in India is also available using Paytm.

Skrill (International)

To withdraw funds using Skrill, follow these steps:

• For web version users:
  • Open the “Cashier” section by clicking on your Profile icon.
  • Tap on the “Withdraw funds” tab.
  • Enter desired details: payout amount and Skrill withdrawal method.
  • Click “Request Withdrawal”.
• For the mobile app users:
  • Launch the left side menu.
  • Click on the “Balance” section and the “Withdraw” button.
  • Enter the payout amount and choose Skrill as your withdrawal method.
  • Click “Request Withdrawal”.

Usually, funds are credited to the account within 1 hour, but sometimes it can take up to 7 business days due to your payment provider.

Perfect Money (International)

To make a cash withdrawal using Perfect Money, follow these steps:

• For web version users:
  • Open the “Cashier” section or click the yellow “Deposit” button next to the Profile icon.
  • Tap on the “Withdraw funds” tab.
  • Enter the amount you wish to withdraw.
  • Choose Perfect Money as your withdrawal method.
  • Click the “Request Withdrawal” button.
• For the mobile app users:
  • Launch the left side menu.
  • Click on the “Balance” section and the “Withdraw” button.
  • Enter the payout amount and choose Perfect Money as your withdrawal method.
  • Click “Request Withdrawal”.

Wait for the payment proof from Binomo. Usually, withdrawal time takes from 1 hour to several days (depending on your payment provider).

Advcash (International)

To make a cash withdrawal using ADV cash (International), follow these steps:

• For web version users:
  • Open the “Cashier” section.
  • Tap on the “Withdraw Funds” tab.
  • In “Payout Amount”, enter the desired amount you wish to withdraw.
  • In the “Withdrawal Method”, choose AdvCash.
  • Click the “Request Withdrawal” button.
• For the mobile app users:
  • Launch the left side menu.
  • Click on the “Balance” section.
  • Click the “Withdraw” button.
  • Tap the “Withdraw Funds” tab.
  • Under “Payout Amount”, enter the amount you wish to withdraw.
  • Under “Withdrawal Method”, choose AdvCash.
  • Click “Request Withdrawal”.

Ensure that the e-wallet you have chosen for withdrawal has already been used for making a deposit. Otherwise, your request will be denied.

You can track the withdrawal status by checking it in the “Cashier” section, “Transaction history” for the web version, or “Balance” for the mobile version.

Bank account withdrawals

Withdrawals to a bank account are carried out similarly to withdrawals to e-wallets and bank cards, with a slight difference. The steps are as follows:

• For web version users:
  • Open the Binomo “Cashier” section.
  • Tap on the “Withdraw funds” tab.
  • Input the amount you wish to withdraw under Payout Amount.
  • Choose Bank Transfer under “Withdrawal Method”.
  • Click “Request Withdrawal”.
• For the mobile app users:
  • Launch the left side menu.
  • Click on the “Balance” section.
  • Click the “Withdraw” button.
  • Choose Bank Transfer under “Withdrawal Method”.
  • Click “Request Withdrawal”.
• For users of the new Android app:
  • Tap the profile icon located on the bottom portion of the platform.
  • Click on the “Balance” tab.
  • Click on “Withdrawal”.
  • Under the Withdraw funds tab, enter the payout amount you wish to withdraw.
  • Choose Bank Transfer as the withdrawal method.

You may have to wait for 1 to 3 business days before seeing funds in your account. In some instances, waiting time for withdrawals can extend up to 7 business days depending on your bank’s policy and other factors. If no payment has been received within a week, contact customer care at support@binomo.com.

Frequently Asked Questions (FAQ)

Let’s look at some questions that will help you start trading on Binomo.

Registration

Let’s cover the questions that new traders often ask about the registration process on Binomo.

Can relatives register on the site and trade from the same device?

Members of the same household must create and use different accounts to trade on Binomo. The platform also should be accessed via separate IP addresses and devices.

Note! Binomo terms prohibit a trader from creating more than one account.

In which countries does Binomo not provide services?

Users from the following countries cannot create an account on Binomo and use the services of the trading platform: Canada, North Korea, USA, Belarus, Australia, Belgium, Croatia, Bulgaria, the Czech Republic, etc. A complete list is provided in paragraph 10.2 of the Binomo Client Agreement.

Want to register a new account, but always get back into the old one

Before creating a new account, you must block the existing one. Only then will you be able to create a new account without violating the Binomo rules.

Note! You cannot use the email used to sign up for a blocked Binomo account. To create a new one, you need to specify a different address.

Why should I confirm the email?

After completing registration on the Binomo website or app, you will be asked to confirm your email. Think of email confirmation not as the platform requirement but as a benefit for yourself:

• The account will be safe from unauthorized persons and scammers. With a verified address, you can also contact the support team, recover your password and even block the account.
• You will receive emails with exclusive educational materials, including expert commentary, strategies, and trading tips.
• You will always be up to date with promotions by receiving notifications about competitions and new bonuses, including promo codes.

Email confirmation

Approximately five minutes after the registration process is completed, Binomo sends an email with a link to verify the address. If you have not received it, request the manager to send another by writing at support@binomo.com. However, before getting in touch with support, check your spam folders.

How to confirm an email if it was entered incorrectly?

If you accidentally entered an incorrect email id when signing up on Binomo, go to the “Profile” section, add a valid email to replace the wrong one, and select the “Confirm” button.

The system will then immediately send a confirmation email to your new address. On the platform, you will see a notification about the sending, and you can also request the letter again if you suddenly have not received it.

Verification

To finally understand the process of verifying an account on Binomo, it is helpful to read the answers to the questions traders most often ask.

General Questions

Below are a few common questions that Binomo users usually ask about account verification.

How do I pass verification?

Passing your account verification is simple if you follow all Binomo instructions. The documents you need to provide to verify include:

• Photo of your passport/ID card or driver’s license. If the document to verify has two sides, provide both. Note that the papers suitable for verification vary depending on the country of residence, so be careful when uploading.
• Photo of the front side of the payment card.
• A bank statement photo if you are verifying a non-personalized bank card.

These documents should be valid for a month or over after uploading. The acceptable formats to verify are pdf, png, and jpg. The photo should include all corners of the document, and all information should be visible.

To verify your identity, complete these steps after confirming you have the necessary documents:

• Verify identity by uploading both sides of your ID document photo.
• Verify the payment method by uploading the front side of your bank card. For a non-personalized one, you will also need to upload the front side of your bank statement.
• Wait for around 10 minutes for verification to complete. Once through, you will be notified that your Binomo account is verified.

Do I need to be verified during registration?

No. After registering the Binomo account, you only need to confirm your email. The platform usually requests verification during your first withdrawal to protect funds from falling into the wrong hands.

Can I trade without verification?

Failure to pass verification limits the ability to withdraw additional income from the Binomo account, but you can make deposits and trade anytime you wish. So, if you don’t want the platform to verify your identity and payment method today, just continue trading. However, it is not worth being afraid of verification because the process is automatic and usually takes up to 10 minutes.

When will I be able to withdraw funds?

Once you complete the verification, you can submit a request to withdraw funds, which Binomo processes based on the type of account you own. For instance, it may take up to three working days or more for traders with Standard status, up to 24 hours for Gold account owners, and a maximum of 4 hours for VIP traders.

Note! The final period for crediting funds from your Binomo account depends on the payment service provider.

How long does verification take?

It usually doesn’t take more than 10 minutes to verify your Binomo account. If the automatic process fails, which is rare, hand verification will be done, which may take up to seven working days. However, this does not deny you the opportunity to trade. So, you can continue getting extra income as you wait for the verification process to complete.

Why do I need to verify my phone number?

Phone number verification is not a requirement but is essential to keep your data and funds safe. For example, if your Binomo account is hacked or you forgot the password, you can recover it using your mobile number.

Besides, you can receive information about bonuses and other benefits offered by the platform before other traders. VIP traders who decide to verify their numbers immediately get a personal manager.

How to verify an e-wallet?

If you only use an e-wallet as your deposit and withdrawal method, you will not need to verify it but only your identity.

Safety and troubleshooting

If you doubt how safe it is to provide Binomo with your data and documents, it will be helpful to read the information below.

Is it safe to send Binomo my private data?

Yes. Here is why you can trust that your private data is safe on Binomo:

• Your entire data is kept on servers in an encrypted format. The servers are housed in data centers that adhere to the international safety standards TIA-942 and PCI DSS.
• Data centers of the trading platform are modern and safe from failure. Plus, they are serviced by a security service around the clock.
• Your sensitive information won’t be accessible to anyone with malicious intentions because decryption keys are maintained separately from the actual data.
• Cryptographic encryption protects the channel via which all data is transferred. The service automatically obscures or blurs a portion of symbols when you upload any private images, payment information, etc. Even if fraudsters try to steal your personal information, they will only be able to obtain encoded characters that are meaningless without a key.
• Besides, Binomo does not share their clients’ information with other parties nor use them for other people’s purposes.

So, you can be sure that your private data are safe during and after verification. You can get more information on Privacy Policy.

Why have I been asked to pass verification again?

If you use a new payment method, you will need to verify it. You can avoid verifying again by continuing to utilize the payment methods you’ve already verified. But in cases when cards and bank documents are due to expire, Binomo also requests re-verification.

Occasionally, Binomo requires clients to re-verify their identity, email address, or other personal information. Re-verification happens after a policy change or as part of the company’s anti-fraud activities.

Why have my documents been rejected?

It could be because uploaded photos do not meet the requirements. Ensure that the four corners of documents that verify your identity and payment method are visible and that everything written on them is readable.

You will always find the “Try again” option on the verification page. Click on it, and you will see an explanation of why your documents were rejected.

Correct the photos according to the comment and add them to verify by clicking on the “Upload new” link.

If any of the documents you submitted to verify are declined, the system could not read them correctly. Click on the unaccepted file and then on “Contact support”.

The email client will open, and you will see a draft describing the problem. Send an email to the support staff, and the issue with your verification will be resolved.

How do I know verification has been successful?

The “Done” status will be applied to all of your documents. A pop-up message and an email confirmation will also be sent to you.

Can I verify in advance?

It is not necessary as the verification process is automatic and mainly implemented when you withdraw funds from the Binomo account. Don’t worry, you won’t miss a request to verify your identity and payment method. A pop-up notification will display, and the “Verification” menu item will appear to enable you to complete the process.

Deposit

It is completely safe to send funds through the “Cashier” section or the “Deposit” button on www.binomo.com. The company works only with proven and reliable payment service providers, both national and international.

Furthermore, payment service providers comply with all local and international personal data protection and security standards. They include 3-D Secure and the PCI standard (used by VISA and some others). Therefore, your data is always safe, and you can deposit money in Binomo without worrying about security.

How to deposit with a non-personalized card?

At Binomo, you can deposit using a non-personalized card, i.e., a bank card that belongs to you but does not have your name on it. However, a few additional steps must be taken when using this type of bank card.

You need to verify that you are indeed the owner of the non-personalized card. Submit one of the following documents to Binomo support to confirm your ownership of the card:

1. Reference from the bank with an official signature/stamp.
2. Bank statement issued by your bank with an official signature/stamp.
3. Screenshot from your bank account in the app or website.

Ensure that the cardholder’s name and card number are visible on the documents. To send documents to support@binomo.com, use the email you specified when registering on the platform.

Can’t deposit with a bank card, what do I do?

If you are unable to add money to Binomo with a bank card, try the following tips:

1. Ensure your country of residence is correctly stated in your profile and the payment order. It should be the same as the cardholder’s residence.
2. Check that you have selected the correct card brand. For example, you could choose Mastercard incorrectly, although your card brand is VISA.
3. Double-check and ensure all account details such as Card Number, Expire Date, and CVC are correct.
4. Contact your card provider or mobile operator if you do not receive the confirmation code via SMS. If you received it, make sure the code is entered correctly.
5. Use a different browser or clear your cache if the issue persists.

If you still cannot resolve the issue, contact Binomo support or choose another payment method such as an e-wallet or internet banking.

My deposit didn’t go through, what do I do?

This problem does not occur often but can still occur for various reasons.

1) Funds have not been debited from your Wallet or Card

The most common reason is that your payment is pending, and it may take some time (up to 3 business days) to process it. However, if your payment is declined, the service provider will tell you the reason for the rejection so that you can resolve the issue.

If the payment does not go through for more than 7 days, contact Binomo support or your service provider for assistance and guidance regarding the completion of the transaction.

2) Funds have been debited but not credited to Binomo

In this case, Binomo recommends waiting one business day. But if the problem persists, contact Binomo support via email, sending proofs of payment such as transaction ID, account number, and screenshots.

If you see the status of your payment as “Pending”, follow these steps:

1. Check if you have correctly followed the instructions for depositing Binomo. It is available in the Help Center under “Deposit”.
2. Contact your bank/digital wallet provider to help issue if your payment takes longer than one business day to process.
3. Email support@binomo.com if the funds have not been credited to your account and your payment provider assures that everything is in order.

You may check the transaction history section in your account to get further information about all the past transactions. The “Transaction history” section is located in “Cashier” if you trade through the site www.binomo.com. If you are using a mobile application, open the left side menu, select the “Balance” section and view the transaction history.

If your deposit status is “Rejected” or “Error”, click on the rejected deposit to find out why. Try to eliminate the cause and send the deposit again. If the error persists, email support@binomo.com.

How much time does it take for funds to be deposited into my account?

Once you complete the transaction, it is assigned the “Pending” status. It implies that the payment service provider is processing the payment. In most cases, your funds appear in your account within an hour. But sometimes, due to national regulations or processing limitations, it may take up to 6-8 hours.

Remember that the maximum processing time for most payment service providers is 3-5 working days, which rarely comes to that. However, your payment may coincide with national holidays and may be delayed by a few days. In this case, contact your service provider to know the exact status of your payment and the expected time it might take to clear it.

How do I fund my account with a card (e-wallet) in a different currency?

You do not have to worry if your card or wallet is in a different currency. Proceed with the usual payment method, i.e., through the “Cashier” section on the website www.binomo.com or “Balance” in the app. Your funds will be converted to the currency of the Binomo account automatically.

Also, note that Binomo does not charge any currency conversion fees. However, some fees may apply from the payment service provider. Therefore, it is recommended to find out about this from your service provider before paying.

Moreover, before your payment is processed, Binomo will show you the converted amount in the target currency. It ensures better decision-making at the user’s end.

Do you charge for depositing?

Binomo does not charge fees or commissions when you deposit funds to the Binomo account. Actually, it is quite the opposite. When you replenish your account, you can get a bonus. The deposit bonus amount depends on your account’s status and can reach up to 100% for Standard, up to 150% for Gold, and up to 200% for VIP.

However, some payment service providers may charge their fees for transferring funds. It is especially true if your payment method and Binomo account are being operated in different currencies. In such cases, the service provider may charge a certain conversion fee.

Note! Be sure to check with your payment service provider for any applicable fees/fees.

Can I deposit with a card that isn’t mine?

A plain and direct answer to this question is NO.

Using someone else’s card or other payment method is strictly prohibited per the Client Agreement. Ensure any card or e-wallet you use to deposit funds on Binomo belongs to you.

You can still use a non-personalized card as a deposit method. Remember, a non-personalized card does not have your name on it, but it belongs to you. When making a transaction, you will need to verify your ownership of the card for the transaction to complete.

When will the funds be credited to my account?

It may largely depend upon your payment service provider. Some transfers, usually via bank cards, are credited instantly, while others may take up to 3 days.

Remember that national laws, payment service providers’ policies, or local holidays may delay transaction processing. In 99% of the cases, any delay is at the end of the payment service provider and not Binomo.

Don’t worry if your funds are not credited to your account even after a few hours. Wait for at least one business day. If the issue persists, contact support@binomo.com to find out the exact reason for the delay.

Trading

Below are some frequently asked questions that will help you understand how to trade on the Binomo platform.

Can I close a trade before the expiration time?

The Binomo platform uses FTT mechanics, so you cannot close a trade before expiration. For example, if you select 17:30 as your expiration time, the trade will close at precisely 17:30. You cannot change the end time of the trade.

How to switch from a demo to a real account?

You can switch from a demo account to a real one at any time by following these steps:

1. Find your account type at the top corner of your Binomo dashboard and click on it.
2. Choose “Real account” on the dropdown menu.
3. Wait for a notification that you are now using a real account.

You will be able to start trading with real funds after switching from a demo account to a real one.

How to be efficient in trading?

To trade effectively, making the most of every opportunity is crucial. It will allow you to correctly forecast the asset price movement, eventually leading to additional income.

Below are some tips to help you improve your trading efficiency:

• Explore the platform first before embarking on an actual trading journey. You can use a demo account to familiarize yourself with the different tools and strategies available on Binomo. You can also participate in the free “Daily Free” tournament to test your potency against real traders.
• Choose familiar assets for trading. If you don’t know what assets are popular, start by researching them. Focus on one asset and try to forecast how its price will change.
• Test the market by depositing small amounts. On the Binomo trading platform, you can open a trade for as little as $1. You can increase the trade amount when you are confident in your trading skills.
• Learn new strategies, techniques, and mechanics in trading. Doing so will help you make sound trading decisions in the long run. For example, you can find an excellent strategy section on the Binomo platform that describes how to use them step-by-step.

What does time remaining mean?

The remaining time is the time left for the trader to open a trade with the selected expiration time. In the mobile software, it is called “Time to buy”. It is marked with a red vertical line on the chart and displayed above it (in the web version).

The remaining time depends on the set expiration time. When you change the expiration time, the remaining time also changes.

Why are some assets not available to me?

Not being able to see certain assets in your Binomo account is due to two reasons:

1. Your account status. Some assets are available only to owners of certain accounts. For example, if you are a Standard account holder, you may not be able to access some assets that are only available to Gold or VIP account holders.
2. Asset availability. Some assets are available only on certain days of the week.

What is the time frame?

It is the period during which the chart is formed. In the web version and mobile app, you can change the time frame by clicking on the icon in the lower-left corner of the chart. In the new Android app version, this function is located on the panel above the chart.

Note that the time frame can be different depending on the chart type:

• For the bar and candle charts, the minimum frame allowed is 5 seconds, while the maximum is 30 days.
• For the line and mountain charts, the minimum frame allowed is 1 second, while the maximum is 30 days.

The time frame you set for each chart will determine the number of times that price changes are displayed on the charts. With an increase in the time frame, the main trends in price movement become noticeable, with a decrease – current, local trends.

Withdrawal

If you have questions about Binomo minimum withdrawal in India or your country, visit the official website or read below for some of the most frequently asked questions.

Why can’t I receive funds right after I request a withdrawal?

All withdrawal requests are processed as soon as they are received. Withdrawal time or how long the request is processed, however, may depend on the status of your account. For instance, if you are a Standard account holder, you will have to wait up to three days for the withdrawal request to be processed. If you are a Gold account holder, you will have to wait up to 24 hours.

If you are a VIP account holder, you will receive your withdrawn funds within four hours. In some rare cases, it may take up to 7 days for funds to appear in your bank account. The delay can be caused by payment system policies or national holidays, as well as many other situations that affect the ability of the payment system to transfer funds.

What payment methods can I use to withdraw funds?

You can withdraw funds from your Binomo account in several ways: e-wallets, bank cards, and bank accounts. Withdrawal of funds to an e-wallet is available to all traders who have made a deposit. Withdrawal of funds to bank cards is available only to cardholders issued in Ukraine and Kazakhstan.

On the other hand, bank transfer withdrawals are only available to traders with bank accounts in India, Vietnam, Indonesia, Mexico, South Africa, Pakistan, Turkey, and Brazil.

Why can’t I withdraw funds to my bank card or bank account?

Bank card and bank account withdrawals are not available to residents of certain countries. It is because some local banks charge high withdrawal commissions. Only traders whose bank cards are issued in Ukraine and Kazakhstan can request withdrawals to a bank card.

Traders who have a bank account in India, Indonesia, Turkey, Vietnam, Brazil, Pakistan, South Africa, and Mexico can request a withdrawal from Binomo to a bank account that is recommended to be linked to a bank card. Thus, the funds will be credited to the card.

If you cannot withdraw funds to your bank card or bank account because these withdrawal options are unavailable in your country, you can deposit and withdraw funds using e-wallets instead. You can use AdvCash, Skrill, Perfect Money, Paytm, and others.

What is the minimum and maximum withdrawal limit?

You can withdraw a minimum amount of $10 or equivalent in your currency. Maximum withdrawal amounts may vary depending on whether withdrawals are made per day, week, or month:

• There is a $3,000 withdrawal limit per day.
• There is a $10,000 withdrawal limit per week.
• There is a $40,000 withdrawal limit per month.

Sometimes payment systems set a withdrawal limit so that the amounts may vary.

How much time does it take for funds to be withdrawn?

Fund withdrawals undergo three stages once you make a request:

1. Approval stage. Your withdrawal request will be approved and passed on to the payment provider.
   
2. Processing stage. The payment provider will process the withdrawal.
   
3. Transfer. Funds will be credited to your account.

In the approval stage, your request may be assigned a “Pending” or “Approving” status. Binomo tries to approve all withdrawal requests as quickly as possible, but the processing duration may depend on your account type.

If you want to track the approval period of your withdrawal request, you may do so by following these steps:

• For web version users:
  • Click on your profile icon.
  • Click the “Cashier” tab.
  • Click “Transaction history”.
  • Click “Withdrawal”.
• For mobile app users:
  • Launch the left side menu.
  • Click “Balance”.
  • Click “Withdrawal”.

After that, you will see the approval period of your request.

If the approval period takes too long, you can contact customer support by clicking the “Waiting for more than N days?” or the “Contact support” button if you use the mobile app version. Binomo will help you find the problem and will try to speed up the process.

As soon as the request receives the status “Approved”, it goes into the processing stage. The request is sent to the payment service provider. “Processing status” may take some time, depending on the payment service provider. In the “Transaction history”, you will see your request’s average and maximum transaction processing time.

Payment service providers could take a few minutes to three business days to credit the funds in your account. In some instances, transfers could take as long as 7 days or more. Processing time can also depend on the payment service provider’s policy.

If the funds have not been credited to your account, you can contact Binomo support by clicking the “Contact support” button if you are using the mobile app version, or you can click the “Waiting more than N days?” if you are using the web version. Binomo will track your withdrawal and help you get your funds as soon as possible.

Can I withdraw in my country’s currency?

Yes, you can withdraw in your country’s currency. Upon registration, you will be asked to set your account currency. You can choose the dollar, euro, or currency of your country. It will be used for trading, deposits, and withdrawals.

Are there any withdrawal fees and commissions?

Binomo does not usually charge any withdrawal fees. However, you can withdraw once every 24 hours without a fee if you are from India or Brazil. If this withdrawal limit is exceeded, you will be charged a fee of 10%.

In some cases, payment providers may charge a fee if the currency of your Binomo account differs from the one you chose as the payment method during the withdrawal process. A fee is charged for currency conversion. However, Binomo will pay this fee, and the deducted amount will be automatically returned to your account.

Note! Binomo charges 10% of the amount you deposited into your account and decided to withdraw without making a trading turnover.

What is the conversion exchange rate?

The conversion exchange rate depends on the current market rate. If the currency of the payment method you choose when withdrawing is different from the currency of your Binomo account, it will be converted automatically.

Why do I see a “Failed” status when withdrawing?

It can happen due to the following reasons:

1. You entered incorrect payment details.
2. The payment service provider is encountering technical difficulties.

Payment providers usually do not indicate the reasons for the problem. But sometimes, you can find an error description when you open the “Transaction history” section.

If an error occurred while submitting a withdrawal request, you could submit another one. If the error still appears on the second try, contact support@binomo.com. The support team will help identify and resolve the issue.

Can I withdraw funds from my account before I start trading?

Yes, you can withdraw funds from your account before trading. However, you will be charged a 10% fee if you withdraw funds before your trading turnover is double the deposit amount. It is done only due to the company’s anti-fraud policy.

Note that Binomo is always ready to assist you when you have problems with your cash withdrawals. Contact their support team via email if you encounter any issues. For email inquiries, send them to support@binomo.com.