Binomo Minimum Deposit Explained | How to Deposit Money
- Broker
- Fees
- Deposit
- Withdrawal
Minimum deposit | $10 |
Payment methods | Banktransfer, Credit card, E-Wallets, Crypto |
Deposit fees | $0 |
The minimum deposit on Binomo is $10 (or its equivalent in your local currency).
This guide will walk you through the step-by-step process of depositing money into your Binomo account. We’ll cover the different account types available based on your deposit amount, the various payment methods you can use, common issues you might encounter, their potential solutions, and whether full account verification is required to make a deposit.
All Of The Binomo Deposit Information You Need:
Minimum deposit: | $10 (or equivalent in local currency) |
Maximum deposit: | No maximum set by Binomo |
Deposit fees: | Available: bonuses range from 20% to 70% depending on the deposit amount |
Regulated payment methods: | Yes, including major bank cards, internet banking, e-wallets, and crypto wallets |
Deposit duration: | Immediate to 1 business day |
Credit Card deposits: | Yes (Visa, Mastercard) |
Cryptocurrency deposits: | Yes (Tether (USDT), USD Coin (USDC), Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC)) |
Bank transfer deposits: | Yes |
No deposit bonus: | Not available |
Deposit bonus: | Available: bonuses range from 20% to 70%, depending on the deposit amount |
(Risk warning: Trading involves risks)
How You Deposit Money On Binomo:
- Step 1: Sign up for a Binomo account
- Step 2: Log-in your account
- Step 3: Click the “Deposit” button
- Step 4: Select your country and your preferred deposit method
- Step 5: Enter your deposit amount
How to Deposit Money on Binomo: A Detailed Step-by-Step Process
Here are the five main steps you follow (from initial sign-up) to deposit on Binomo:
Step 1: Sign up for a Binomo Account
The first step is to sign up for a Binomo account. If you already have an account with the broker, you can skip to Step 2. For those who need to create an account, here’s the sign-up process to follow:
Go to Binomo’s Official Website @ www.binomo.com
Visit Binomo’s official website at www.binomo.com on your desktop or mobile browser.
Click the “Sign Up” Button
In the top right corner of the home page, click “Sign up.” Remember that the default language is set to English. To change this, choose your desired language by clicking the flag icon beside the “Sign up” button.
(Risk warning: Trading involves risks)
Register Using Your Credentials
You can create an account using your email, Facebook, or Google account. If you have multiple credentials, such as various email accounts, you’ll be prompted to select which one you want to use for signing up.
Select Your Account Currency
Next, you will be prompted to choose your preferred account currency, which will be used for your trading activities on the platform. You have three options: the euro, the US dollar, or your home country’s local currency.
Read and Accept Binomo’s Client Agreement and Privacy Policy
Lastly, you must read and accept Binomo’s terms and conditions, which are their “Client Agreement” and “Privacy Policy.” Afterward, click the “Complete” button to finish your account registration.
(Risk warning: Trading involves risks)
Step 2: Log-in Your Account
After creating your account, you will need to finish Binomo’s initial verification before you can log in. Here’s what you can expect during this phase:
Wait for Binomo’s Email Confirmation
After signing up, you will receive a welcome email from Binomo (usually within 2 hours). If you do not see an email from Binomo in your primary folder, check if it is in your spam folder.
Open Binomo’s Welcome Email and Click “Let’s Start.”
After opening Binomo’s welcome email, click “Let’s start” to verify your newly registered account.
Log In Using Your Credentials
Finally, you will be redirected to a new page to input your login credentials. After successfully logging in, you can now deposit money into your account.
(Risk warning: Trading involves risks)
Step 3: Click the “Deposit” Button
After logging in, you will be welcomed by Binomo’s trading platform, where you can begin demo trading as a “Free” user. To start live trading, you need to deposit money into your account. Click the deposit button located in the top right corner of Binomo’s trading platform to proceed.
Step 4: Select Your Country and Your Preferred Deposit Method
After clicking the “Deposit” button, you will be prompted with a “Deposit Window” (as shown above) where you would need to choose your country and input your preferred payment method.
Step 5: Enter Your Deposit Amount
Finally, enter your preferred deposit amount and click “Deposit (with your amount value)” to complete the process. The amount will then be credited to your account, allowing you to start live trading.
Tip: As shown, you can get certain deposit bonus percentage depending on your deposit value. This bonus ranges from 20% of your deposit value for just $50 to up to 70% of your deposit value when depositing at least $3,000.
Sample Bonus Calculation:
- As shown, if you deposit $100, you will get a 30% deposit bonus.
- Deposit Value = $100
- Bonus Amount = $30 ($100 x 30%)
- Total Buying Power = $130 ($100 + $30)
- So, by depositing $100, you will have $130 worth of buying power, which you can use to trade in your account.
(Risk warning: Trading involves risks)
Different Account Types and Their Minimum Deposit
The following are the five account types in Binomo, together with their required cumulative deposit:
Account Type | Minimum Deposit Requirement |
---|---|
Free (for demo trading) | $0 |
Standard | $10 or its equivalent in your local currency |
Gold | $500 or its equivalent in your local currency |
VIP | $1,000 or its equivalent in your local currency |
Prestige | $3,000 or its equivalent in your local currency |
Note: Since these are cumulative deposit requirements, you do not need to deposit these amounts all at once (except for the Standard account, as you cannot deposit an amount lower than $10). Hence, by continuously depositing money into your account, you can climb to higher account tiers.
But Why Would I Want to Climb a Higher Account Tier?
To answer this, here’s the list of benefits you can get depending on your account tier:
As illustrated, higher account tiers offer more benefits. For example, upgrading from “Standard” to “Gold” status qualifies you for a 5% cashback, increases the number of tradable assets from 48 to 61, reduces your withdrawal waiting period from 3 days to 24 hours, boosts your deposit bonuses from 100% to 150%, and raises your maximum profitability per trade from 85% to 90%. Advancing to VIP and Prestige status provides additional perks, such as a Personal Manager (PM), eligibility for risk-free trades, and exclusive prizes.
(Risk warning: Trading involves risks)
Available Payment Methods
Depending on your country, you can choose from four main types of payment channels. For example, let’s look at the options available in India:
Here is the information in a table format:
Payment Method | Description | Examples |
---|---|---|
Bank Cards | These are cards from prominent payment networks that are available in your country. | Visa, Mastercard |
Internet Banking | These are local payment methods with an Internet banking facility. | India’s Unified Payment Interface (UPI), UPI QR, local banks |
E-wallets | These are non-bank digital wallets available in your country and supported by Binomo. | India’s Google Pay by UPI, PhonePe by UPI, Paytm by UPI, AstroPay, Jeton Wallet |
Crypto Wallets | Cryptocurrencies that allow you to store, manage, and transact your crypto assets. | Tether (USDT), USD Coin (USDC), Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) |
Common Problems When Depositing Money on Binomo
The following are some of the most common issues you may face when trying to deposit:
Problem 1: Network or Server Issues
Description: Transactions can get stuck in a “pending” status due to network issues or server downtime.
Potential Solution: Wait a few hours and check again. According to Binomo, most payment transactions can be completed within a few hours up to one business day. If the problem persists beyond one business day, contact Binomo customer support for assistance.
Problem 2: Unaccepted Payment Details
Description: Your payment details are invalid. This can happen if you enter incorrect details, such as your card’s security or account number.
Potential Solution: Always double-check your payment details before submitting. Ensure that the CVV and account number are entered correctly and that your bank authorizes your card for online and international transactions. Also, ensure your payment method (such as your credit card) has not expired.
Problem 3: Deposit Limit Exceeded
Description: You are unable to deposit beyond a certain amount using your payment option.
Potential Solution: Check the maximum amount you can deposit using your payment option. Often, this can happen due to the maximum limit per single transaction (or per day) set by your payment provider (such as your bank or E-wallet). In many cases, you can adjust this maximum amount (such as by editing your withdrawal setting on your bank app). However, if this is not possible, you can choose a different payment method to supplement your deposit.
Problem 4: Browser Compatability Issues
Description: Encountering deposit issues stemming from the browser you are using.
Potential Solution: This is a common issue that can be addressed by simply changing your browser. For example, suppose you are using Safari and are unable to make a deposit (such as giving you an error or preventing you from loading the payment gateway). In that case, you can try using Chrome or Firefox instead.
Problem 5: Currency Conversion Mismatch
Description: The total amount credited to your Binomo account is lower than what you deposited using your payment option.
Potential Solution: Take note of possible currency/Forex conversion rates imposed by your selected payment channel. This mismatch can happen due to the fluctuating Forex conversion rates and any conversion fee your payment channel requires to make the transaction.
If you encounter an issue that needs to be raised with Binomo’s customer support, here are five Binomo support channels you can reach out:
Support Methods | Availability/ Support Time | How to Get Support |
---|---|---|
Email Support | 24/7 | You may email your concern to [email protected] |
Chat Support | 24/7 | You can chat with their virtual assistant bot named “Cody” directly on their platform |
Contact Form | Response time varies | Accessible through their website and done by filing a support ticket with your concern details |
Social Media | Business hours | Direct messages on Binomo’s official social media accounts:Binomo on Telegram and Binomo on Instagram |
Personal Manager (PM) | On-demand; responds promptly | An exclusive service for VIP and Prestige clientele. You can directly contact your PM for your deposit concern or issue. |
(Risk warning: Trading involves risks)
Are There Any Fees?
Binomo does not charge any fees or commissions, regardless of your payment method. However, some payment service providers may apply fees, especially if your Binomo account and payment method use different currencies (e.g., your Binomo account is in USD while your payment method is in your home currency). These fees, which can include transfer and Forex/conversion fees, vary based on your country, currency, and payment method.
Do I Need to Verify When Depositing Money on Binomo?
To deposit money on Binomo, you only need to complete the initial verification in Step 2. After this, you can freely deposit into your account. However, at some point, you will be required to fully verify your account by completing Binomo’s identity and payment verification process. Even though you can continue depositing and trading during this time, withdrawals will be restricted until you pass the full verification process.
Note: You can only fully verify your account once prompted. You cannot request to accomplish this verification process in advance.
Conclusion
Overall, the entire process—from signing up to making your first deposit—is straightforward and smooth. You can begin live trading with as little as $10 (for standard status) and gradually deposit more to unlock higher account tiers offering greater benefits. Moreover, Binomo does not impose fees or commissions on deposits and requires only initial verification to start building your portfolio.
(Risk warning: Trading involves risks)
Most asked questions about Binomo sign-up and the minimum deposit:
Does Binomo offer deposit bonuses?
Yes, Binomo offers a deposit bonus based on your deposit amount. Currently, the bonus percentages you can receive are tied to specific deposit thresholds: 20% for deposits of at least $50, 30% for deposits of at least $100, 50% for deposits of at least $500, 60% for deposits of at least $1000, and 70% for deposits of at least $3000. Please note that the availability of these offers may vary depending on your chosen deposit channel.
Can I deposit using a payment method that is not mine?
You should only deposit to and withdraw from wallets and cards that belong to you legally. Using payment methods that are not yours, even with permission from a relative or otherwise, violates Binomo’s Client Agreement and may result in your account being banned or closed.
What are the available deposit channels I can choose from?
Depending on your country, you have access to four main payment channels: bank cards, internet banking, e-wallets, and cryptocurrency wallets. It’s important to note that specific transfer and conversion fees may apply depending on the deposit channel you select.
Is there a maximum deposit amount you can make per transaction?
Binomo does not set a maximum deposit amount per transaction. However, your chosen payment provider may have its own limit per transaction. Therefore, if you intend to deposit a significant amount, it’s advisable to verify the maximum allowable amount with your specific payment provider beforehand.
Do I need a bank account to deposit funds to Binomo?
No, having a bank account is not necessary to deposit funds on Binomo. You can deposit using supported crypto wallets such as Tether (USDT), USD Coin (USDC), Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and local E-wallets available in your country.