Binomo is a trading platform allowing you to increase trading skills and get additional profit. In this review, we will explain all about the Binomo website in Pakistan, how to use it, and how to download the app to trade.
What's the Binomo website/mobile app?
The Binomo logo is known in more than 130 countries such as Pakistan, Turkey, Qatar, etc. You can find many positive reviews about the website and app on the net, for instance, on forums like Linkedin and Quora.
If you ask: “What is Binomo, and how does it work?”, first of all, you should know that this is not really a place to make money or play gambling. Binomo is an international platform on which you can learn how to trade. It’s possible to earn additional income, but it’s necessary to obtain specific knowledge and experience before investing.
The benefits of the platform include:
- Demo account where you can learn how Binomo works for free.
- Tournaments that are not only to make a profit but also to compete with other traders.
- You can also get additional income from Binomo by joining the affiliate program BinPartner.
- Deposit bonuses up to 100% (depending on the type of your account).
- Tutorials for your trading education (glossary of terms, the Help Center, Economic Calendar, etc.).
- Most often, the verification of a Binomo account is completed automatically in just a few minutes.
- Binomo does not charge any fees (vs IQ Option where a Bank Transfer fee of 31$ is charged).
Note! Commissions can be charged by the provider.
Where to download the Binomo app?
Android or iOS owners in Pakistan can download the Binomo app for free on smartphones and tablets. If you have any issues installing the app from Google Play, you don't need to hack it. Just download the APK version for Android from the Binomo website.
Note! Binomo does not have software available for PC (neither Windows/Mac), but you can log into the website through a browser on your desktop.
By whom is Binomo regulated?
If you are reading about Binomo for the first time, there are chances you want to know if the platform is legit or a scam.
Binomo was established in 2014 and is under the regulation of St. Vincent and the Grenadines laws, where its head office is located. This leaves no doubt whether Binomo is real or fake.
Since 2018, the platform has been a registered category A member of the International Financial Commission, an independent global dispute resolution organization. Its Compensation fund guarantees each trader up to €20.000 in case of a dispute with the broker. This is one of the main arguments in favour of the fact that Binomo is not a fraud.
Binomo also has a certificate from the independent company Verify My Trade. VMT monthly checks 5.000 trades and confirms that they are of high quality.
How does Binomo work?
New users need to sign up for Binomo. The first time you log in, a demo account will open for training and practice.
Registration and login
Registration on www.binomo.com can be done in two ways: email or Facebook/Google. Take the following steps to create an account:
- Log into the Binomo homepage or app in English or any of the 13 supported languages.
- Click the “Sign in” button and then switch to the “Registration” tab.
- Provide your email address and strong password or click the Google or Facebook icon.
- Choose the preferred currency ($, € or the equivalent in your local currency). Make sure you choose correctly, as it cannot be changed. You will have to close your Binomo account and re-register.
It is really important to read the Client Agreement because violation of its terms can lead to suspension of the account.
For beginners traders and newcomers to the platform, Binomo has provided a free demo account. It simulates the real trading experience and can help increase skills using a virtual $1.000 (vs IQ Option with $10.000). This balance will be replenished when you exhaust it.
Note! The profits in the demo account are not real and cannot be withdrawn.
There are also tutorials on Binomo to learn how to trade. The Help Center (FAQ) may be called the analogue of Wikipedia. There are comprehensive answers to many questions here. You can also upskill by participating in the “Daily Free” tournament and testing strategies. No strategy is winning by itself or guarantees 100% result of trading. They should only be used after careful analysis of the market change.
Choose the account type
After trading on a demo account, you can switch to a real one and expand your financial empowerment. There are 3 real Binomo accounts that differ in the amount of deposit bonus, cashback, profitability in the case of the correct forecast, and other advantages. Upon reaching the VIP status, the maximum privileges are opened, including the support of a personal manager and participation in a special tournament. You can read more about each of the accounts on the official website.
How to invest in Binomo?
Real account trading can be started with a minimum of $10. You have the opportunity to make deposits on Binomo through the most popular payment options in Pakistan, such as bank cards, e-wallets (JazzCash, EasyPaisa, AstroPay, etc.). Binomo does not support some payment systems such as PayPal.
Upon registration, every Binomo user is entitled to a 25% welcome bonus. It’s valid for 30 mins and can be activated on the first deposit.
There are bonuses for subsequent deposits available to different Binomoaccount holders:
- 100% for Standard account.
- 150% for Gold.
- 200% for VIP.
If you are a VIP trader, your manager may send you a coupon as a gift or offer a no-deposit bonus such as risk-free trades or investment insurance. Codes can also be found in emails or social networks of Binomo, etc.
Note! Check the detailed terms and conditions for using bonuses in paragraph 8 of the Client Agreement of Binomo.
How to trade on Binomo?
You can enter into Fixed Time Trades (FTT). Here are the step-by-step instructions on how it works:
- Select an asset (currency pairs, gold, etc.).
- Input the amount you want to invest.
- Set the time during which you want the trade to continue. By expiration period, all trades are divided into turbo (1-5 minutes) and long-term (15-60 minutes).
- Forecast whether the asset price will go UP or DOWN by clicking the green or red button, respectively.
- If your forecast is correct, additional income will be credited to your account.
The minimum withdrawal amount is $10. Binomo has limits, for example, you can withdraw no more than $3000 per day. Limits also can be set by the payment system, so clarify it in advance.
For security reasons, withdrawals from Binomo can only be made using the same payment method you used for deposits. For instance, if you deposit through your e-wallet, you will be able to withdraw only into the same e-wallet.
On average, withdrawals can take between a few minutes to up to 3 days or more (the final period depends on your provider).
Note! Keep your receipt or other proof of payment until you receive funds.
You can find everything about how to withdraw money from Binomo by writing to the chatbot or visiting the Help Center. This section covers many other issues, such as how to close an account or pass verification. You can also contact support agents at any time via live chat or email email@example.com.
Become part of the Binomo community
The Binomo community in Pakistan is growing daily. The platform is attracting people with fast registration and login, a demo account, free tutorials on how to trade, as well as safe methods to deposit and withdraw funds.
It must be remembered that traders may lose their investments. The platform does not provide tips and signals; therefore, your decisions are entirely up to you. Practice with the free demo account till you feel ready for real trading on Binomo.