Gold on Binomo — the Legal Picture in India
Gold on Binomo is a fixed-time contract on the price of gold, opened with an offshore operator. This page looks at what that contract is in legal terms for a trader in India — what you hold, who oversees it, and what happens to the money around it.
Open a Binomo account →A gold trade on Binomo is a fixed-time contract on the price of gold with an offshore counterparty — not an investment in metal, and not an instrument any Indian body oversees. Dolphin Corp LLC, registered in St. Vincent and the Grenadines, is on the other side; Binomo holds no SEBI licence and the Reserve Bank of India lists it on its Alert List of unauthorised electronic trading platforms. The mechanics are simple — a stake, a duration, a higher-or-lower forecast, a payout stated as an upper limit — but the protections an Indian gold buyer takes for granted are not part of the package.
What a gold trade on Binomo legally is
- It is a fixed-time contract on the price of gold — you do not own or take delivery of any metal
- It is not a unit of a gold fund, not a Sovereign Gold Bond and not a derivative traded on an Indian exchange
- The counterparty is Dolphin Corp LLC, registered in St. Vincent and the Grenadines
- Binomo holds no SEBI licence, and the Reserve Bank of India lists it on its Alert List of unauthorised electronic trading platforms
- There is no leverage and no overnight charge — the maximum loss is the amount staked, and a wrong forecast loses all of it
- Payout figures are stated as an upper limit by account level, never as a promised return
A gold trade on Binomo, question by question
| Question | Gold on Binomo |
|---|---|
| What you hold | A fixed-time contract on the price, not metal |
| Where the trade sits | With an offshore operator, Dolphin Corp LLC (St. Vincent and the Grenadines) |
| Indian oversight | None — no SEBI licence, and listed on the RBI Alert List |
| International credentials | IFMRRC certificate; Category A member of The Financial Commission |
| Leverage or overnight charge | None — a fixed stake per trade |
| Maximum loss | The full amount staked on that trade |
| Money flow | Deposit sent abroad from 10 USD; withdrawal returns to the deposit method |
What the contract is, and what it is not
Gold on Binomo is quoted as a price you forecast, not as an asset you acquire. There is no allocation of metal, no vault receipt and no fund unit: at expiry the trade is settled in your account balance and nothing else changes hands. That also rules out the routes familiar to a gold buyer in India — this is not jewellery or a coin, not a gold exchange-traded fund, not a Sovereign Gold Bond, and not a commodity derivative listed on an Indian exchange.
The mechanics match any other Binomo asset: you choose an amount and a duration, forecast whether the price will be higher or lower at expiry, and either receive the payout rate for your account level or lose the amount staked. Because there is no leverage and no overnight charge, the loss cannot exceed the stake — a limit on the size of the damage, not a form of protection.
Who oversees a gold trade placed here
Nobody in India does. Binomo is operated by Dolphin Corp LLC in St. Vincent and the Grenadines, holds no authorisation from SEBI, and appears on the Reserve Bank of India's Alert List of unauthorised electronic trading platforms. Its IFMRRC certificate and Category A membership of The Financial Commission are credentials issued by international industry bodies; they are not an Indian licence and cannot be read as local permission. The status page covers this in full.
The difference shows up when something is contested. A gold position taken through a locally regulated route leaves an audit trail your intermediary must produce; a fixed-time contract here leaves whatever you saved yourself. The escalation order is Binomo support first, then The Financial Commission, whose compensation fund covers approved claims up to EUR 20,000 — an industry scheme, not a statutory one.
The money around the trade
Funding a gold trade means sending money out of India: the minimum deposit is 10 USD, and under FEMA rules sending funds abroad to an unauthorised platform can create legal and banking risk for the trader. Your bank or card issuer applies its own policy to such transfers and may decline them — a decision taken in India that the platform cannot influence.
Coming back, withdrawals start at 10 USD with no Binomo fee and return to the method you deposited with, while profit above the deposit is usually paid by bank transfer — and only once verification is approved, which needs a government photo ID and a proof of address. Anyone treating gold trades as a way to build a position should look at that exit path first; the withdrawal page sets out timings by account level.
Records and reporting are on you
No Indian statement, contract note or tax certificate is produced for these trades — the platform is offshore and outside that reporting chain. Whatever obligations follow from gains, losses or the transfer of funds abroad rest with you, and the only sources of numbers are the account history you export and the bank records on your side.
That makes bookkeeping part of the trade rather than an afterthought: keep the deposit receipts, the withdrawal requests and their dates, and the payment method used for each. If the amounts are material, it is a conversation to have with a qualified tax adviser before you start, not at the end of the year.
Checking a gold trade before you place it
- Be clear about what you are buying: a price forecast, not gold — no metal, no fund unit, no exchange position.
- Read where Binomo stands in India: no SEBI licence, and listed on the RBI Alert List.
- Practise on the free demo (about 1,000 USD in virtual funds) before staking real money.
- Check that your bank will process a cross-border deposit at all — the minimum is 10 USD and the decision is your bank's.
- Complete verification early: a government photo ID plus a proof of address are required before the first withdrawal.
- Size each stake as money you can lose in full; a wrong forecast forfeits the whole amount.
Payout rates are upper limits set by account level, never a promised return. Information only — not investment or tax advice.
Gold on Binomo — legal and money questions
| Question | Answer for a trader in India |
|---|---|
| Do you own gold | No — it is a fixed-time contract on the price |
| Traded on an Indian exchange | No |
| Regulated by SEBI | No |
| RBI position on the platform | Listed on the Alert List of unauthorised electronic trading platforms |
| Counterparty | Dolphin Corp LLC, St. Vincent and the Grenadines |
| Leverage | None — the stake is the maximum loss |
| Minimum deposit and withdrawal | 10 USD each; no Binomo withdrawal fee |
| Documents before the first withdrawal | Government photo ID plus proof of address |
| Dispute route | Binomo support, then The Financial Commission (international) |
Verify current terms on the platform before trading. Fixed-time trading is high risk.