How to Trade Options in India with Binomo

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Top Binary Options Broker 2020!
    Best Choice For Beginners!
    Big Sign-Up Bonus!
    Free Trading Education!
    Free Demo Account!

  • Binomo
    Binomo

    Only For Experienced Traders!

Binomo

Instruments Binary Options, Crypto
Deposit Methods Bitcoin, Credit cards, ePayments, Neteller, Wire Transfer
Min Deposit $10
Min Trade $1
Regulated
Free Demo
Max Payout 95%*
Hindi Support

98%

Last Binomo review update: April 2020

In-depth Review of Binomo for India

Today we are going to carry out an in-depth review of another broker that offers a wide range of trading instruments for binary options in India. The broker in question can be found on binomo.com, however, Binomo is simply the brand name of the company Tiburon Corporation Limited. A company incorporated under the laws of the Republic of Seychelles (registration number 187026), with their head office in Victoria (Seychelles ).
Tiburon Corporation Limited, which is the actual company in charge of supply of service, also has a managing company in charge of operations. The operating company is Stagord Resources Ltd, and it is registered in the Republic of Cyprus with registration number HE 338508. Their address is based in Nicosia (Cyprus ).
I hope that was not too much to take in? In a nutshell, what that meant is that the company is registered in 2 different locations, probably for the advantages each nation brings, for both operational and general service delivery. Keeping things simple we’ll refer to the company by her brand name “Binomo”.

What is Bonomo ?

Binomo is a binary options trading service provider that offers smart investment services to Indians and investors around the world and free training.

Video Review

Trading platforms

The Binomo trading platform is offered in English and Hindi. They provide us as web-based, android mobile, and ios mobile apps, which can be downloaded from the app stores. An experience with the trading platform was an amazing yet simple user interface, easy to navigate, yet presenting an awesome user experience. So, are you new to options trading and you’re kind of dazzled by the presentation of some trading platforms out there? Well, the Binomo trading platform is built with you in mind. You can start trading by simply selecting an asset you are interested in; enter the amount you will like to invest on that particular asset; set an expiration period for the transaction, and determine the direction of movement for your chosen asset.
Haven come this far, you may conclude by clicking on either one of the two up (green) or down (red) buttons that are inclined to your anticipated forecast. The results of your trades are displayed in the transactions window, with profits or loss added or deducted from your account balance as the case may be.

I will recommend newbies and experienced traders alike to trade on their demo account which is absolutely free. It’s an easy and cost-effective way to get familiarize with the platform.
Again, it is strongly recommended that Indian clients of Binomo binary options trading read through the client agreement. There you will find useful information regarding to trading that should not be overlooked. The company strongly frown against multiple account registration, and have strict penalties in place for anyone found wanting.
For a smooth live trading experience, it is important that traders use a very strong internet connection as the company cannot guarantee that the quotes on the trading platform cannot serve as a reliable source of quoting information in the case of bad internet connection. This can be found under clause 4.1 and 4.2 “Quotes” of the client agreement.

The chart below presents the general outlook of the Binomo trading platform.

Indicators and Drawing Tools

The indicator and drawing tools are nicely placed at the bottom left corner of the trading platform as shown in the chart below. A good number of technical indicators are at the disposal of the trader to estimate market direction. Among these are the Moving average, MACD, Bollinger bands, Alligator and RSI etc. These indicators can be easily attached to any asset of your choice loaded on the chart.
The drawing tools can be found on the same panel as an icon with a cup and drawing

tools in it. This is also shown in the image below. Simply click on the cup icon to display and use drawing tools like segment, continuous, Line, Ray and Horizontal etc. if you are into establishing support and resistant lines on your chart.

Time-frames and Chart types

The chart can be toggled between different chart types, depending on how you want your chart to be presented. You have the choice of mountain, candlesticks, line, or bar charts on different timeframes ranging from 1 second to 5-minute charts.

Instruments offered for trading

At Binomo, you can trade binary options on stock indices, shares, commodities, different currency pairs, and crypto index. Click on the plus symbol beside the default asset open to view other available assets, as shown in the chart below.

Types of Accounts

The team at Binomo created a low barrier to entry in the industry of binary options trading through different account types. These include demo, standard, gold, and VIP accounts. Let’s take a closer look at what these accounts have to offer.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Top Binary Options Broker 2020!
    Best Choice For Beginners!
    Big Sign-Up Bonus!
    Free Trading Education!
    Free Demo Account!

  • Binomo
    Binomo

    Only For Experienced Traders!

Demo Account

Their Free $1000 demo account is a perfect tool for those who new to binary options trading. It’s an account to get your feet wet as well as for training and practising a trading strategy. This is the gateway to Binomo’s full functionality. Just in case you run out of funds on your demo account, by a simple click of the refresh button beside your account balance display.

However, I must warn that have read their client agreement, the demo servers are mostly different from the real account servers, and it does not totally take the place of practising with real money, where your emotions are at play. This is partly why at Binomo, they have a second account called the “Standard account”.

Standard Account

This is in my opinion, an account suitable for all traders, whether you are a beginner or an experienced trader. My reason is that you can start trading with as little as $10. Subscribing to a standard account grants you access to the most liquid assets, and experience the real potentials of the Binomo trading platform, and most importantly making a profit. With a standard account, you can start trading with as little as $1 per trade; you are eligible to participate in trading competitions; withdraw profits within 3 working days, and enjoy a wide range of bonuses.

Gold Account

Opening a gold account opens more opportunities for traders to leverage off, thereby increasing profit potentials. What I find attractive about the gold account is the 5% weekly cashback.

VIP Account

Large fund managers are not left out. For traders that require exclusivity and want insurance on their capital, Binomo presents investment insurance tools for your use. Also included are analytical support and of course being able to withdraw your profits within 4hours max.

Commissions & Fees

Trading binary options on the Binomo platform does not attract any commission or spreads on transactions. However, according to clause 2.14 of the client agreement the company will charge a 10% withdrawal fee in the case where a client decides to withdraw all or part of his/her fund without making double his/her initial deposit.

Minimum deposit and requirements

The minimum allowable deposit for carrying out trades is $10 being offered on the standard account, however, you can enter a trade with as low as $1. Requirements for deposit are simply the KYC (Know your customer) policy which the company has the right to demand from her clients. More information on this can be found in “clause 1.5 “of the client article. Generally speaking, documents required are a form of identification and utility bills.

Payout/Leverage

At Binomo you get leverage in the form of bonuses. The company is giving out 10 options in the amount of $150. This is an offer for all new traders from India on the Binomo service. Different account types have bonuses allocated to them. Go to the link to account types to find out more about such bonuses. Follow this link to get further information regarding bonuses and offers.
The maximum Payout offered is 95% however levels vary depending on the volatility of asset and account type. Again, visit the account section to for more info on these.

Promotions & Bonuses

Binomo Bonus

Binomo is giving away deposit bonuses. Please check their website for promotions.

Deposit and withdrawal options

Payment and withdrawal can be made using Visa, Mastercard, and Maestro. Other payment alternatives are Neteller, Qiwi wallet, and a range of cryptocurrencies.
I recommend Neteller to Indian traders as deposit option.

Customer Support

Binomo has efficient online customer support via phone, live chat and email that is available during the week. You can also ask questions and have a ticket created for your inquiry on this link

Binomo Review – Summary

The Binomo binary options trading service platform is a great company to consider when looking for an options trading broker for India. They offer a $10 low barrier to entry in the binary options trading industry. Start with a $1000 demo account and gradually upgrade to a standard account for newbies, but I will recommend a gold account for the more seasoned trader. Reading the customer agreement cannot be overemphasized, this is applicable to all trading service providers. Have a successful experience, trading with Binomo options broker.

Binomo in India

TABLE OF CONTENTS:

Binomo has been in operation since 2020, so the company entered the Indian market as an equal among the world leaders of the industry. It is an international trading platform operating in dozens of countries around the world. Initially, it was only operating in European countries, but it currently covers all continents, including Asia and Africa. (our review of Binomo)

Binomo India

The company pays special attention to trading terminal development, implementing uninterrupted payments that are integrated with national payment systems in India, and training traders.

Trading on Binomo

Learning to trade can be done absolutely free with the help of the unlimited demo account. Real trading is also very affordable. The minimum amount for crediting and payments is 10 US dollars.

Trading conditions:

* contracts – classic and CFD;

* profitability – up to 87%;

* assets – 50 items;

* expirations of trades – from 1 to 60 minutes.

You can trade both on computers and on mobile devices. Binomo maintains its own terminal, which is regularly updated and fine-tuned to make it even more functional and easy to use for traders.

Web terminal interface overview

Top panel. There are links to go to “My Account” and “Cashier” to credit your account and see the informational section of the site. You can also quickly switch between the demo account and your real one.

Right panel. The trade parameters can be changed here: the amount of the investment, the expiration period, and the type – for an increase or decrease.

Bottom panel. At the bottom of the terminal there are tools for setting the display mode of the chart, as well as indicators and chart auto-shapes for drawing on the chart (lines, beams, channels, and grids).

Left panel. An informational section where you can find your trade history, ready-made strategies with step-by-step instructions, information about tournaments, the economic calendar, as well as notifications and service messages from the company about bonuses and promotions.

Chart. Linear, bar, and candlestick charts are available on the Binomo terminal in 6 intervals from 1 second to 5 minutes. The chart is dynamic and updated in real time. Scrolling, scaling, and free dragging functionality is also available.

Mobile Binomo terminals can be found in the App Store and Google Play. The application interface has been translated into Hindi and English.

Crediting and payments

Binomo accepts payments from VISA and MasterCard credit cards. This feature is available to users from all over the world. The same applies to cryptocurrencies, since they are not tied to a specific country. In addition, there are other ways to credit your account: NETELLER, PerfectMoney, and Indian banks. In the future there are plans to support more systems that are popular in India. At the moment, the best choice for payments is the NETELLER system.

Transfers to your account are carried out immediately after the payment is made. How quickly payments are made depends on the level of the account and range from 4 hours (VIP) to 3 days (standard accounts). A user’s status depends on the amount of funds they have entered into the system. GOLD ($500 or more) and VIP ($1,000 or more) offer more possibilities for users, including individualized services – almost instantaneous payouts, training under the guidance of a mentor, etc.

Training and the India support service

Binomo is a platform for beginners whose main task is to learn. The company offers users from India the following training resources:

— ready-made strategies with step-by-step trading instructions;
— a trader dictionary and a collection of answers to beginners’ frequently asked questions;
— video tutorials that discuss the key aspects of trading;
— an unlimited demo account with full platform functionality;
— individual training for VIP users.

Support

The support service operates via email, Skype, and online chat. English and Hindi are supported.

Trader tournaments

Binomo loves self-assured traders who are so confident in their professionalism that they are ready to prove their skills in open competitions. The company regularly holds tournaments with various prize pools ranging from $300 to $80,000.

Free tournaments are held daily. They have a prize fund of $300 and the number of prizes totals 60. More large-scale competitions are held on a paid basis. To enter you will need to pay $5-30, depending on the size of the prize fund. The goal is to get the best result and the biggest profit. Anyone can win. Even the last prize place receives a rather large award. And the top five winners usually get 3-5,000 dollars per user.

Pros and cons of Binomo

Advantages include the advanced payment policy, the lack of issues with payments, integration into the financial ecosystem of different countries including India, the favorable trading conditions, and the high profit percentage. It is easy to learn how to trade on Binomo: the demo account, video courses, trader FAQ, etc. The company operates officially. The International Finance Commission assigned Binomo category “A”, which is the highest one. Link to Binomo Website

How to Trade Options in India with Binomo?

Since its start in 2020, Binomo has expanded in several markets including India. Binomo is an international trading platform that operates in more than a dozen countries around the world.

Initially, the company caters to the needs of customers and traders based in Europe. Thanks to its growing influence, the company’s trading platform is now available for traders based in Africa and Asia.

Trade Using Binomo

Beginners will find the Binomo platform helpful. All new customers and trades can enjoy their unlimited demo account. Also, it’s money trading platform is friendly and affordable. With $10, you can start trading using the platform from Binomo.

Depositing Funds and Payments

Funding your account is fast and easy. You can process your payments through the use of Visa and Mastercard. This payment option is globally-recognized. Also, Binomo supports payments through cryptocurrencies. Aside from these popular payment options, Indian customers can also rely on the use of Neteller, PerfectMoney, and payment transfers using Indian banks.

Binomo is planning to add other payment options that are accessible to traders based in India. If you are looking for a convenient and fast payment option, we highly recommend that you use Neteller.

Training and Quality of Support for Indian Traders

Binomo is highly recommended for traders who are just starting and want to learn. When you sign up for the platform, you can gain access to the following:

  • Instant strategies with step-by-step procedures on how to execute
  • Trader’s dictionary and answers to common questions
  • Video tutorials
  • Unlimited demo account with full access to platform functionality
  • Bespoke training services for VIP traders

Advantages and Disadvantages of Binomo Trading Platform

One of the benefits associated with Binomo is the advanced payment policy, streamlined payments, integration into the Indian payment system, and great payouts. Also, the trading platform is easy to learn and provides users with access to a demo account and training materials.

More importantly, Binomo is fully legal and licensed and has been awarded a category ‘A’ by the International Finance Commission.

Author

More about the author Step

I’ve wanted to build a business of some kind and earn money since I was in middle school. I wasn’t very successful though until my senior year in highschool, when I finally started to think about doing online business. Nowadays I profitably trade binary options full-time and thus gladly share my experiences with you. More posts by this author

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Top Binary Options Broker 2020!
    Best Choice For Beginners!
    Big Sign-Up Bonus!
    Free Trading Education!
    Free Demo Account!

  • Binomo
    Binomo

    Only For Experienced Traders!

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