2022 Is Binomo legal in Indonesia? Review for Indonesian traders

Is Binomo legal in Indonesia or not? – It is a fully legal business there. Binomo is one of the best online trading platforms for investing in more than 100 different markets. The company is regulated and secure. Binomo accepts international clients and also traders from Indonesia. There are no bans or restrictions on Binomo in Indonesia. In the following article, we will show you the offers and trading conditions for Indonesian traders.

If you want to trade online in Indonesia, there are a number of brokers you can choose from. However, it is always advisable to go for credible and tested brokers. One of them is Binomo Indonesia.

Quick facts for Indonesian traders:

• Binomo is legal in Indonesia
• It is a legit business from St. Vincent and the Grenadines
• Indonesian traders are welcome
• Earn up top 90% payout
• Regulated and secure platform

INTRODUCTION TO BINOMO FOR INDONESIAN TRADERS

Binomo Indonesia is a broker of high repute via which you can virtually trade online. Virtually trading financial markets is one of the most profitable means of making money over the internet. However, there are several methods of trading the markets, one of which is through digital options. Derivatives are financial instruments that allow a trader to speculate on the direction of prices of assets in the financial markets.

Here, you will decide whether you expect the market to go up or move down, and then you place a bet corresponding with that decision. If you believe the market will move up after a fixed time, you go for a ‘BUY’ trade; but if you believe the market will go the other way, you choose a ‘SELL’. If your prediction is correct, you are paid a fixed percentage of the capital you risked, say between 75% to 90%, or even more. If, however, your prediction turns out incorrect, you lose a specified portion of your capital.

How to trade with Binomo in Indonesia

To be able to trade online, and indeed any financial instrument, you need an online broker. There is a wide variety of brokers that you can pick from. However, to get access to seamless trading, you have to choose the most reliable, one of which is Binomo. It is a relatively new broker in the binary options space (launched in 2017), but one that is fast leaving a mark, having bagged a number of awards for excellent service.

Services in Indonesia:

Binomo Indonesia offers commendable binary options brokerage services to traders aimed at giving you a better trading experience. Some of such services and features are outlined below:

Trading Bonuses

Binomo Indonesia offers juicy bonuses to traders to bolster their trading accounts. When you deposit up to $500, you are offered a 100% welcome bonus which gets automatically credited to your trading account. This gives you the ability to take more risks, and potentially, more profits.

Remarkably, the bonuses do not come with any restrictive terms or conditions, as we find with many other brokers.

Customer Support

Binomo’s customer service in Indonesia is arguably one of the best in the industry, as our checks reveal. This is partly due to the fact that the customer service is done in-house, rather than contracted out as most brokers do. In addition, it is available in several languages. They are accessible 24/7 via call, email, and live chat. Other notable features include really fast deposits and withdrawals as well as payouts as high as 87%.

Binomo Indonesia trading platform review

There are 3 main channels through which you can access the services of Binomo –  namely through a mobile app (available on both the Google Play Store for Android and App Store for iOS) and the web trading platform. Binomo web-trading platform is available via PC or mobile, on a web browser. One thing about the broker’s trading platforms is that they are all synced together. Your trading account history gets updated across all of the platforms in real-time.

Assets that you can trade on Binomo:

On Binomo’s platforms, you have access to trade an array of markets including currency pairs and the major cryptocurrencies, ETFs, and stocks.

Demo account:

A good feature of a quality online broker is making demo accounts available to clients.

Binomo demo account for Indonesian traders

A demo account is simply an account provided by the broker to you for free. It typically contains virtual money which you can use to make trades. However, the money in the demo account is not real, and can never be cashed out. Demo accounts are useful for a number of things, some of which are:

• To practice trading skills

A demo account gives newbie traders the opportunity to practice their trading skills before they commit their hard-earned real money to trade. Demo trading accounts as a beginner trader give you the ability to test and trade real market conditions with fake money, to know how trading works before actual capital is put on the line.

• To test a broker’s platforms

With a broker’s demo account you can test such broker’s platforms and services before deciding to trade with the broker.

• To test new trading strategies

In the case of experienced traders, they may make use of demo trading accounts to test new trading strategies to ascertain if they are effective and profitable with fake money before applying such strategy to a live account, where there are chances of losing real money. Binomo gives traders a $1,000 demo account, which we believe is not the best you can get amongst online brokers.