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)

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.