How to Trade and Withdraw on Binomo
How to Trade on Binomo
How to Open a Trade on the Binomo Website
Binomo is a popular online trading platform that allows you to trade various assets such as currencies, commodities, and more. We will explain how to trade on Binomo in a few simple steps.Step 1: Choose an Asset
Binomo offers you a wide range of assets. you can find the most popular currency pairs (EUR/USD, AUD/USD, EUR/GBP...), commodities (Gold and Oil...), and variable equities (Apple, Tesla, Google, Meta...). There are 70+ assets in total. You can use the search bar or the filter option to find the asset you want to trade
Step 2: Set the Expiry Time
Once you select an asset, you can choose an expiry time for your trade. Binomo offers a range of expiry options, allowing you to choose a timeframe that aligns with your trading goals. Expiry times can vary from 1 to 5 minutes or 15 minutes to 1 hour. Consider the asset’s volatility and your desired trading duration when setting the expiry time.
Step 3: Set the Amount
You can use the plus and minus buttons to adjust the amount of funds you want to invest in each trade. The minimum amount is $1, and the maximum is $5,000.
Step 4: Predict the price movement
The final step is to predict whether the price of the asset will go up or down by the end of the time frame. You can use the technical analysis tools and indicators provided by the platform to help you make your prediction. Once you are ready, you can click on either the green button for a call option (HIGHER) or the red button for a put option (LOWER).
- A call option means that you expect the price of the asset to rise above the strike price by the expiry time.
- A put option means that you expect the price of the asset to fall below the strike price by the expiry time.
Step 5: Wait for the outcome of your trade
You can monitor your trade on the platform or on your mobile app. You will see whether your trade was successful or not when the timer reaches zero. If your prediction was correct, you will receive a fixed payout based on the asset and trade type. If your prediction was wrong, you will lose your investment amount.
That’s it! You have just learned how to place a trade on Binomo.
How to Open a Trade on the Binomo App
Step 1: Open the Binomo App: Launch the Binomo app on your mobile device and log in to your account.
Step 2: Choose a Trading Asset: Select the financial instrument or asset you wish to trade from the list of available options. You can also see the payout percentage, the price chart, and the trading time for each asset.
Step 3: Set the amount and the expiration time of your trade: Binomo usually allows you to enter the desired investment amount manually or select from predefined options, which can be as low as $1 or as high as $5,000. Additionally, set the duration of the trade, which can range from 1 minute to 1 hour.
Step 4: Choose the Trade Direction: Determine whether you believe the asset’s price will increase (Green) or decrease (Red) within the selected trade duration. Make your selection accordingly. If your prediction is correct, you will get a gain based on the payout percentage. If your prediction is wrong, you will lose your investment amount.
Step 5: Monitor and Manage the Trade: After placing the trade, closely monitor the asset’s price movement on the app’s real-time charts. You can see your open trades on the bottom of the screen, where you can also view your potential gain or loss. You can also close your trade before the expiration time by clicking on the sell button and accepting the offer.
Binomo Trading Features and Benefits
Secure and Regulated Platform: Binomo is a category A member of the International Financial Commission. This guarantees the company’s customers quality of service, transparency of relations, and protection from a neutral and independent dispute resolution organization.User-Friendly Trading Platform: Binomo provides a user-friendly platform with a clean and intuitive interface. It is designed to accommodate traders of all skill levels, allowing for easy navigation and efficient trade execution.
Demo Account for Practice: Binomo provides a demo account feature that allows traders to practice trading without risking real funds. This feature is beneficial for beginners to learn the platform, test trading strategies, and gain confidence before transitioning to live trading.
Wide Range of Tradable Assets: Traders on Binomo have access to a wide selection of financial instruments. This includes commodities, currencies, and more, enabling traders to diversify their portfolios and capitalize on various market opportunities.
Advanced Technical Analysis Tools: The platform offers a range of technical analysis tools, indicators, and charting features. These tools assist traders in conducting in-depth market analysis, identifying trends, and making informed trading decisions.
Mobile Trading: Binomo’s platform is available as a mobile application for both iOS and Android devices providing traders with flexibility and convenience by allowing them to access their accounts and trade on the go. The apps offer full functionality, including real-time charts, market analysis tools, and order placement, enabling traders to monitor and execute trades from anywhere at any time.
Competitive Trading Conditions: Binomo strives to offer competitive trading conditions, including low minimum deposit requirements, competitive spreads, and transparent fee structures. By prioritizing these aspects, Binomo aims to foster a trading environment that is easily accessible and favorable for traders of all levels.
Educational Resources: Binomo provides educational resources, including tutorials, video lessons, and webinars, to help traders enhance their knowledge and improve their trading skills. These resources are beneficial for both beginners and experienced traders seeking continuous learning opportunities.
Customer Support: Binomo offers reliable customer support services to assist traders with their inquiries and concerns. Support is available through various channels, including live chat, email, and phone, ensuring traders receive timely assistance.
Withdrawing Funds from Binomo: A Step-by-Step Guide
Binomo Withdrawal Payment Methods
If you are a trader on Binomo, you might be wondering how to withdraw your funds from the platform. Binomo offers a variety of payment methods for its users, depending on their location and preferences. We will explore some of the most popular and convenient options for withdrawing funds from Binomo.
Bank Cards
The first option is to use a bank card, such as Visa or Mastercard. This is a simple and secure way to transfer your funds directly to your bank account. The processing time can take from 1 to 12 hours to credit funds to your bank card.Please note:
- Bank card withdrawals are only available for cards issued in Ukraine, Turkey, or Kazakhstan;
- Indonesian traders can use JCB bank cards to cash out their funds
E-wallets
The second option is to use an e-wallet, such as Skrill, Neteller, Perfect Money, WebMoney, and more. These are online platforms that allow you to store and transfer funds electronically. They are fast, convenient. Withdrawals to e-wallets are available for every trader who has made a deposit.
Bank Transfers
The third option is to use a Bank Transfer. Bank account withdrawals are only available for banks of India, Indonesia, Turkey, Vietnam, Philippines, Thailand, Colombia, Argentina, Chile, South Africa, Mexico, and Pakistan. Bank transfer is a safe and reliable way to withdraw your funds from Binomo, as it does not involve any third-party intermediaries or online platforms that might pose security risks.
Binomo withdrawal payment methods are diverse and flexible, allowing you to choose the one that suits your needs and preferences.
How to Withdraw Funds from Binomo: A Step-by-Step Guide
Step 1: Log in to your Binomo account and click on the "Cashier" button on the top right corner of the screen. You will see your balance and the available payment methods for withdrawal.
In the mobile app: Open a left-side menu, choose the “Balance” section, and tap the “Withdraw” button.
Step 2: Choose the payment method that suits you best. Binomo supports various payment options, such as bank cards, bank transfers, and e-wallets. You can only withdraw to the same payment method that you used to deposit. For example, if you deposited with a Visa card, you can only withdraw to a Visa card.
Step 3: Depending on your chosen withdrawal method, you will be prompted to provide relevant information. For bank transfers, you may need to input your bank account details, including the account number and routing information. E-wallet withdrawals may require the email address associated with your e-wallet account. Follow the instructions provided by Binomo and accurately enter the requested details.
Enter the specific amount of funds you wish to withdraw from your Binomo account. Ensure that the requested amount does not exceed your available balance.
Step 4: You will see a confirmation message and a withdrawal request number.
You can also check the status of your withdrawal request in the "Transaction History" section.
Step 5: Receive your funds in your chosen payment method. Depending on the payment method and your bank, it may take from a few minutes to 12 hours for the funds to arrive in your account. You can contact Binomo’s customer support if you have any questions or issues regarding your withdrawal.
That’s it! You have successfully withdrawn your funds from Binomo.
What is the Minimum and Maximum Withdrawal limit on Binomo
The minimum withdrawal limit is set at $10/€10 or the equivalent of $10 in your account currency.
The maximum withdrawal amounts are as follows:- Per day: a maximum of $3,000/€3,000 or an equivalent amount in your account currency, not exceeding $3,000.
- Per week: a maximum of $10,000/€10,000 or an equivalent amount in your account currency, not exceeding $10,000.
- Per month: a maximum of $40,000/€40,000 or an equivalent amount in your account currency, not exceeding $40,000.
How long does Binomo Withdrawal take
It usually takes payment providers from 1 to 12 hours to credit funds to your bank card. In rare cases, this period may be extended up to 7 business days due to national holidays, your bank’s policy, etc.
If you’re waiting longer than 7 days, please, contact us in the live chat or write to [email protected]
Are there any Withdrawal Fees and Commissions on Binomo?
We typically do not impose any commissions or fees for withdrawals.
However, there is a withdrawal limit without a fee for India. If you are from India, you can make a withdrawal once every 24 hours without incurring a commission. If you exceed this limit, a fee of 10% will be applied.
Additionally, in rare instances, payment service providers may charge a commission for currency conversion if your Binomo account and payment method use different currencies. However, Binomo will cover this commission on your behalf, and the amount will be automatically refunded to your account.
Note. Please note that if you make a deposit and decide to withdraw before engaging in trading activities, there is a possibility of a 10% commission.
Binomo Conclusion: Empowering Trading Excellence and Financial Ease
Binomo emerges as a premier platform, facilitating seamless trading experiences and efficient withdrawal processes for its diverse user base. With an intuitive interface and a robust set of tools, Binomo empowers both novice and experienced traders to engage confidently in the markets. The streamlined withdrawal procedures, coupled with a range of secure options, ensure swift and hassle-free access to funds, enhancing user convenience.
By offering comprehensive educational resources and prioritizing user satisfaction, Binomo embodies reliability and effectiveness in the realm of online trading. Continuously evolving to meet the demands of an ever-changing financial landscape, Binomo remains a stalwart companion, enabling users to navigate the complexities of trading while achieving their financial objectives with ease.
