An overview of how to deposit and withdraw funds from Binomo

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Binomo trading platform is convenient and user-friendly. Deposit or withdrawal is hassle-free. In this review, we’ll discuss, in detail, how to deposit and withdraw funds from Binomo. We’ll also cover methods of deposit and withdrawal, their minimum, withdrawal limits, and more.

Binomo deposit 

binomo deposit methods

Once you register with Binomo, you’ll get free virtual funds in your Demo account balance. With it, you can learn how to trade and familiarize yourself with the platform. However, you can’t place real trades with funds in your Demo account. To place real trades, you’ve to deposit funds into your account.

Minimum deposit

The minimum deposit refers to the smallest amount of funds you’re permitted to deposit to your account – the lower limit. The minimum amount for a deposit is 10 USD/10 EUR or its value depending on your account’s currency. For South Africa, the minimum local currency deposit for Binomo is 150 ZAR.

Deposit methods

Making a deposit on Binomo is not difficult. There is a wide range of deposit methods you can use to credit your account. The interesting part is that the funds arrive in your account in no time (its can take up to 3 days depending on a payment system, but some take seconds). Find all deposit methods on the page “Cashier” – “Deposit” (it’s the same as the deposit button in the mobile app).

You can use bank cards or e-wallets to deposit. No matter your country, you’ll find a card/payment method that is supported. But there is a condition – the card/e-wallet  must belong to you!

You can deposit using a bank card with a currency different from Binomo account currency. The bank will do the necessary by converting the funds into the currency of your account at the bank’s internal rate. 

Note! Remember crediting your account via a third-party card is prohibited.

How to deposit funds to your Binomo account

The funds typically arrive immediately after the deposit transaction is confirmed. However, payments can take a long time sometimes. When such happens, do well to check the status of your payment.

To add funds to your Binomo account, take the following steps:

  1. Go to the mobile Binomo app or website.
  2. Login or open an account.
  3. Click the deposit button.
  4. Select payment method.
  5. Enter a deposit amount.
  6. Go to the payment page and complete the process.

Binomo withdrawal review

binomo withdrawal method

One of the important information traders look out for in a platform is the withdrawal. Well, the reason for such curiosity is obvious. No one wants to go through hectic processes trying to withdraw funds. Binomo trading platform considers this. 

Binomo withdrawal is hassle-free and doesn’t take a long time. However, it’s vital to know how to execute a withdrawal and the conditions of withdrawing funds.

Withdrawal methods

Use the same payment method that you used for the initial deposit. You can use a bank card or an e-wallet. If, for any reason, it’s not feasible to use the same method, you can go through a few other choices. However, a new card/e-wallet must be in your name, and your details must correspond.

For security reasons, you may be required to provide some additional documents. This is to make sure you’re the owner of the card or wallet. Whatever document is requested, make sure it belongs to you and that all information on it is clear.

There can be a case of withdrawal rejection. It can be due to invalid documents, or the card is not the same as the one used for the initial deposit. Whatever the case might be, you’ll receive an email with the description of the problem. When the needful is done, you’ll be able to apply for a payout. 

Minimum withdrawal and limits

The minimum withdrawal amount is 10 USD/10 EUR or their equivalent in your country’s currency. 

Binomo withdrawal limits are as follows:

  • Not more than $3,000 per day.
  • Not more than $10,000 before the end of the current week. 
  • Not more than $40,000 before the end of the current month. 

These limits may be reduced in connection with the particular features of individual withdrawal methods. The user can learn the exact limits for the withdrawal of funds for each withdrawal method from support@binomo.com

Withdrawal time

How long does it take? Usually, withdrawal orders are processed very fast. On average, Binomo withdrawals take from several seconds to 3 days (depending on your account types and payment system, sometimes longer). Some factors can affect the waiting period. One of them is the payment method you use. To ensure faster withdrawal processing, make sure you provide all the necessary details. Ensure there is no information mismatch in the withdrawal request.

Note! Binomo does not charge any withdrawal fees, but your payment processor can do it!

Policy and conditions

Policy and conditions

Before you place the withdrawal request, it’s advisable to get acquainted with the Binomo withdrawal policy. As we said, the minimum withdrawal amount is 10 USD. At the discretion of the company, the minimum withdrawal amount may be decreased in certain countries.

The payments made following the client’s requests are not refundable. The withdrawal request is processed by the company within 3 business days following the day of filling such a request.

Conclusion

Binomo is a user-friendly platform with a fast withdrawal policy and other benefits, including low minimum deposits, responsive customer support, variety of assets, and training. However, evaluate all the financial risks; you may lose the funds in your trading account. Please go through training in trading and use a demo account for practice to reduce the risk of losing funds.

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