Best Binary Options Brokers Binomo Review

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    1st Place! Best Binary Broker 2020!
    Best Choice for Beginners — Free Education + Free Demo Acc!
    Sign-up and Get Big Bonus:

  • Binomo
    Binomo

    2nd place! Good choice!

Contents

The Best Binary Option Trading Platforms and Brokers of 2020

​Looking for the best binary option broker, but not sure where to start? With so many different brokers to choose from, finding the right one can feel like a difficult task.

Finding the best broker often comes down to what factors are most important to you. Are you looking for the highest payouts, the lowest minimum deposits, the most attractive bonuses, or perhaps the best trading platform? No matter what appeals to you most, I got you covered.

Over the years, I’ve reviewed and tested 17 different binary options brokers. I’ve evaluated each company on a variety of factors including trading platform, payouts, deposit methods, customer service, country restrictions, regulation, mobile apps, and more.

​Below you will find my top 10 list of brokers, a side-by-side comparison chart, and a review of each company. Ready? Let’s get started!

Table of Contents

​​​​The 10 ​​Best Binary ​Options Brokers of 2020

  1. IQ Option – Best ​Trading Platform
  2. ExpertOption – Best Payouts
  3. Olymp Trade – ​Lowest ​Minimum Deposit
  4. Binary.com – Best For Beginners
  5. Pocket Option – Best For U.S. Traders
  6. BinaryCent – Best For Minimum ​​Trade Amounts
  7. RaceOption – Best Bonuses
  8. Binomo – Best For​ VIP Traders
  9. 24Option – Best ​CFD Trading
  10. Finmax – Best ​Customer Service

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Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    1st Place! Best Binary Broker 2020!
    Best Choice for Beginners — Free Education + Free Demo Acc!
    Sign-up and Get Big Bonus:

  • Binomo
    Binomo

    2nd place! Good choice!

​7

​8

​9

​​10

​Review of the Top Binary Option Sites and Companies

1) IQ Option

​​​IQ Option is a broker that is based in Cyprus and regulated by the CySEC (Cyprus Securities and Exchange Commission). Since 2020, IQ Option has been one of the most successful online trading platforms with over 43 million registered users, over 1 million trades per day, and clients from over 213 countries.

IQ Option has the best trading platform of all the brokers I’ve reviewed. They have over 250+ ​assets to trade including binary options, digital options, as well as CFDs on stocks, crypto, commodities, and ETFs. Their binary options pay up to 95% on successful trades, while their digital options offer return rates up to 900%

The IQ Option platform is available on the Web or through one of their trading apps (Android, iOS, Mac, and Windows). Free demo accounts are available with $10,000 in virtual money to practice with. Their platform comes with everything you’d want and expect including multi-chart layouts, financial indicators, technical analysis, and real-time alerts. They also have several risk management features including Stop Loss, Take Profit, Negative Balance Protection, and Trailing Stop.

If you’re looking for the best binary trading platform, IQ Option should be near the top of your list.

  • Minimum Deposit: $10
  • Max Payout: 9​5%
  • Min. Trade: $1

​Note: This broker does not accept clients from the United States, Canada, European Economic Area, Japan, Israel, Australia, and Puerto Rico.

​2) ExpertOption​

​ExpertOption is a trusted broker that has been around since 2020, offering binary options on over 100+ ​assets including stocks, cryptocurrency, forex, and commodities. ExpertOption is located in Saint Vincent and the Grenadines and is regulated by the VFSC (Vanuatu Financial Services Commission) and FMRRC (Financial Market Relations Regulation Center). This broker serves clients from over 150 countries and has over 32,000,000 registered ​users on their platform.

ExpertOption offers some of the best payouts on the market, with profits as high as 95%. Their platform is very easy to use for beginners and also has some features that even advanced traders will appreciate such as 4 different chart types, 8 indicators, and trend lines. ExpertOption also offers Social Trading, which allows you to trade binary options with your friends or follow other VIP traders and see their active trades in real-time.

ExpertOption offers over 20 different payment methods including E-Wallets, credit cards, cryptocurrency, and bank transfer. This binary broker also offers a free demo ​without registration. Overall, if you’re looking for a great payouts and a solid trading platform, ExpertOption is an option worth considering.

  • Min​. Deposit: $10
  • Min. Trade: $1
  • Max ​Profit: 95%
  • Bonuses: 100% Welcome Bonus

Note: This broker does not accept clients from the USA, Canada, European Economic Area, Switzerland, Israel, New Zealand, Australia, Puerto Rico, Singapore, Bangladesh, Vanuatu, Yemen, and Sudan.

​​3) Olymp Trade

​Olymp Trade is a ​Cyprus-based broker that is regulated by the International Financial Commission. This license ensures that traders are supported by deposit insurance, comprehensive support, and a prompt resolution of all issues. Olymp Trade has been a part of the options market since 2020 and has consistently improved their platform over the years. As of 2020, there are over 25,000 users trading ​with Olymp Trade ​every day.

Like most of the top brokers, Olymp Trade has a web-based platform and apps available for iPhone and Android. They have over ​75 different ​underlying assets that you can trade with. Demo accounts are available if you’d like to test-drive the Olymp Trade platform. This broker has a variety of educational resources available to their clients including trading strategies, webinars, and more.

​Note: Olymp Trade does not accept clients from European Economic Area, Australia, Canada, USA, Japan, Israel, New Zealand, Russia, Spain, Sweden, and Switzerland.

​4) ​Binary.com

​Binary.com is an online trading platform that offers binary options and CFD trading. Owned by a company called Binary Group LTD and founded in 1999, this broker is one of the oldest and most respected names in the binary options trading industry with over 1 million registered users worldwide.. Binary.com has offices in ​Channel Islands, Malta, Saint Vincent and the Grenadines, Malaysia, British Virgin Islands, and Vanuatu. ​ Binary.com is regulated ​by ​Vanuatu Financial Services Commission​, British Virgin Islands Financial Services Commission, Malta Financial Services Authority, and Labuan Financial Services Authority.

Binary.com has several different trading platforms that you can use including:

  • Deriv – A perfect solution for beginners with an easy-to-use platform that is rich with features.
  • SmartTrader – Trade in the world’s financial markets with a simple and user-friendly online platform.
  • Tick Trade Android App – Ultra fast trading on-the-go.
  • MetaTrader 5 – An advanced multi-asset trading software that includes Forex, CFDs, and binary options.
  • Binary WebTrader – An advanced binary options trading interface to monitor the movements of your favorite markets at the same time.
  • Binary Bot – Automate your own trading strategies with a simple “drag and drop” bot creation tool.

​Binary.com has attractive return rates that can exceed 100% on simple rise/fall contracts and above 1000% on high/low and touch/no-touch trades. You have the option of trading all major indices, commodities, currencies, and synthetic indices with expiry times ranging from 10 seconds to 365 days. Binary.com gives you the ability to sell your contract before the expiry time is reached to lock-in your profit or to minimize your loss. With their simple interface, you can execute a whole trade in just a matter of seconds.

Binary.com provides a variety of payment methods to fund your account including Visa, Mastercard, bank transfer, Skrill, Maestro, Neteller, Fasapay, QIWI, and many more. To ensure trader safety, all capital deposited goes into a segregated bank account and held in a secure financial institution.

​Although Binary.com is a perfect choice for beginners, their advanced platforms ha​ve enough features to satisfy even the most advanced traders.

Note: Binary.com does not accept customers from the USA​, Canada, and Hong Kong.

​​5) ​​​Pocket Option

​Pocket Option is a binary options brokerage that provides online trading of more than 100 different underlying assets. Pocket Option is one of the only sites that accept new traders from the United States and Europe. Established in 2020, Pocket Option is based in the Marshall Islands and is licensed by the IFMRRC (International Financial Market Relations Regulation Center).

Pocket Option has great terms and conditions for its traders including no commission on deposits and withdrawals, over 50+ payment methods, indicators and signals, social trading, bonuses, high returns, and more. Pocket Option provides bonuses of up to 100% when you open an account, which is among the best in the industry.

If you’re looking for a binary broker that caters to customers around the world, including USA and Europe, then Pocket Option is one of the best options available.

  • Maximum Profit: 128%
  • Min. Deposit: $50
  • Min. Trade: $1

​​6) ​​​​Bin​aryCent

​BinaryCent is a binary option site that offers Forex trading, CFDs, and options with payouts up to 95%. BinaryCent was established in 2020 and is owned by a company called Cent Project LTD, which is a subsidairy of the Finance Group Corp. This company is located in Vanuatu and accepts international traders including the United States, Canada, Australia, and the UK. BinaryCent is regulated by the VFSC (Vanuatu Financial Services Commission).

The biggest advantages of using BinaryCent include minimum trades of just 10 cents, leverage up to 1:100, and copy trading. Copy trading allows you to follow the most successful traders on the platform and to see their live trades in real-time. By copying other profitable users, you can increase your chances of success.

  • Minimum Deposit: $250
  • Minimum Trade: $0.10
  • Bonus: 20-100% Deposit Match
  • Withdrawal Processing: 1 Hour
  • USA Friendly: Yes

​​​7) ​​​​​RaceOption

RaceOption ​is a binary options broker that is based in the UK and established in 2020. RaceOption processes more than 10,000 trades per day and is one of the only companies that allow clients from the United States, Canada, and Australia. RaceOption has no restrictions on what country you’re located in.

The biggest selling points to RaceOption are 1-hour withdrawals, deposit bonuses up to 100%, and weekend trading. This trading platform is available in three versions: Web, Android, and iPhone. They offer CFD trading, 60 seconds, one touch, live charts, and instant execution of trades.

Overall, RaceOption is a reliable broker that offers attractive payouts up to 90% and a variety of funding options including credit card and cryptocurrencies such as Ethereum and Bitcoin. This platform is best suited for beginners that are ​looking for a simple interface that is easy to understand.

  • Minimum Deposit: $250
  • Payouts: 90% Max
  • Bonus: 20-100% Deposit Match
  • USA Friendly: Yes

​​8) ​​​​Binomo

​​Binomo is a binary options broker with a high-end trading platform with the ability to trade binary options, CFDs, Forex, and cryptocurrency. Binomo is based out of St. Vincent and the Grenadines and they are regulated by the IFC (International Finance Commission). Since Binomo is a Category A member of the IFC, they have deposit insurance of up to $20,000 for all clients.

Binomo doesn’t offer as many ​assets to trade ​compared to other brokers. Their standard account has 14 available ​markets to trade with up to 85% max payouts, while their VIP level offers 42 available ​markets with a max payout of up to 94%. VIPs also have extra perks such as 10% weekly cash back, deposit bonuses up to 100%, 1 hour withdrawals, and a personal account manager.

Overall, Binomo is a good binary trading platform but has limited assets compared to other brokers. Binomo does offer a demo ​with $1,000 in virtual funds if you want to give their platform a try.

  • Minimum Deposit: $10
  • Minimum Trade: $1
  • Payouts: 94% Max
  • USA Friendly: No

​9) ​​24Option

​24Option is a broker that is based out of Cyprus and regulated by the CySEC. When 24Option was established in 2020, they were primarly just a binary option platform. However, the company has shifted its focus to offering Forex and CFDs. 24Option has a large ​asset index that includes currency pairs, ​stocks, crypto, ETFs, and indices.

Advanced traders will be happy to know that 24Option has the MetaTrader4 platform, which is very popular for its charting functionality and financial analysis tools. MT4 offers immediate order execution and accurate pricing in real-time. 24Option has an extensive education library with daily market reports, fundamental analysis, webinars, eBooks, and trading guides.

24Option has 4 different account types which includes Basic, Gold, Platinum, and VIP. All account types get leverage up to 1:500. The basic ​level comes with floating spreads as low as 2.5 PIPS for EUR/USD and as low as 1.1 PIPS for VIP accounts. Platform also includes Stop Loss and Take Profit features to help minimize losses and maximize returns.

Overall, 24Option is a good broker if you’re looking for an advanced trading platform with CFD and Forex trading. This broker does not accept clients from United States, Europe​, Canada, Australia, China, Israel, Switzerland, Japan, New Zealand, Bahamas, Pakistan, North Korea.

  • Minimum Deposit: $250
  • Minimum Trade: $24

​10) ​​​​​​FinMax

​Finmax is a regulated binary options broker owned and operated by a company called Max Capital LTD. Located in Bulgaria and opened in 2020, Finmax is licensed and regulated by the FMRRC (Financial Market Relations Regulation Center) – a Russian regulatory body.

Finmax has an asset index of over 70 markets, as well as a favorable trading conditions such as instant order execution, no spreads, ​a free demo ​without limits, and 48 hour withdrawals. The Finmax trading software has a variety of expiry times, ranging from 30 seconds to 6 months. Finmax has several different platforms you can trade CFD or binary options with including Android, iOS, and Windows.

Finmax is one of the few brokers in the industry that have developed their own software for trading binary options, rather than relying on third party platforms such as SpotOption or TechFinancials. Their customer support team is very helpful and they provide 24/7 help via phone, email, or chat.

  • Min. Investment Amount: $5
  • Max Returns: 90%
  • Min. Deposit: $250

​1​1) ​​​​​​​Ayrex

​Established in 2020 and based out of Cyprus, Ayrex is ​one of the few unregulated brokers that exist in the industry. Ayrex offers binary option contracts on over 30 different underlying assets. Ayrex is an unregulated broker, but they’ve already applied for licensing from the CySEC (Cyprus Securities and Exchange Commission), which has yet been granted.

Ayrex specializes in short-term contracts with an expiry time​ as little as 30 seconds. Investors can expect maximum profits up to 85% on successful binary options trades. Ayrex does offer trading signals, which they claim have a 60% success rate. Their customer support team is also very helpful as well.

Overall, Ayrex might be suitable for some investors, but their ​small asset selection and lack of regulation should make traders hesitant. If you do decide to use Ayrex, make sure to take advantage of their free trading account so that you can practice trading binary options before depositing real money.

  • Maximum Profits: 85%
  • Minimum Investment: $5
  • Minimum Deposit: $25

​1​​2) ​​​​​​​​Nadex

​Nadex is a United States based binary options exchange located in Chicago, Illinois. Nadex is the only regulated broker that is licensed in the USA by the CFTC (Commodity Futures Trading Commission). Nadex offers trading platforms that allow you to take positions on short-term price movements in a variety of markets. You can choose between binary options, touch bracket, and call spread contracts. Due to regulatory rules set forth by the CFTC, the money you deposit must be held in segregated bank accounts to ensure your funds are safe and secure.

The Nadex Trader Platform lets you place orders directly to the exchange using their proprietary software. You can filter over 5,000 contracts daily by asset class, expiry time, and price. For binary options, Nadex charges a $1 trading fee per contract on each side of the trade, the entry and the exit.
In addition, Nadex charges a $1 settlement fee per contract for trades that expire “in the money”. However, there is no settlement fee if your binary options trade expires “outside the money”.

If you want to test-drive the Nadex platform, you can open a demo trading account with $25,000 in virtual money to practice with. For real accounts, the deposit requirement is $250 USD.

​Things To Consider When Choosing A Binary ​Trading Platform

​When you’re choosing a binary ​broker, you should consider certain factors before you commit. Each of these components affects your trading experience. Identify the ones that are most important to you, and find a broker who offers those features, before you sign up.

Mobile Trading Apps

​When it comes to binary options trading, it is essential that you have access to the markets from your smartphone or tablet. Most brokers offer free mobile apps that allow you to ​access the markets and execute trades from anywhere. Most binary options websites have information regarding their trading apps and which devices t​heir platform is compatible with​, such as Android or iPhone.

Asset​ Index

When choosing the best binary options provider, make sure to take into consideration which assets are available to trade. Most brokers list their asset index on their websites for everyone to see. The bigger their list of assets, the more opportunities you have to make a profit.

Most binary options brokers have at least 30-70 different markets that you can trade including Forex, commodities, stocks, and indices. However, some of the bigger brokers such as IQ Option and ExpertOption also have ETFs, CFDs, and Cryptocurrency as well.​

​Regulated Brokers

​Regulation and licensing is a key factor that you must consider before choosing the best binary options company to work with. Regulated brokers must follow certain requirements that help protect binary options traders in the event of a dispute. In additional, regulation ensures client funds are held securely in segregated bank accounts.

Although unregulated brokers have more risk associated with them, they do have some advantages such as the ability to offer sign-up bonuses to attract new traders. If binary options are prohibited in your region, such as Europe or India, using an offshore broker might be the only way to gain access to the binary options market.

The primary regulatory agencies include:

  • CySEC – The Cyprus Securities and Exchange Commission (Cyprus)
  • FSB – Financial Services Board (South Africa)
  • CFTC – Commodities Futures Trading Commissions (United States)
  • FCA – Financial Conduct Authority (UK)
  • ASIC – Australia Securities and Investment Commission

​Low Minimum Deposits

​If you’re just getting started with binary options trading, it may be a good idea to choose a binary option broker with a low minimum deposit. Some brokers allow you to open trading accounts with as little as $10, which is a great way to get started without risking a lot of money. Another thing to keep in mind is the minimum trade amount​, which can vary between platforms. BinaryCent currently has the smallest investment amount for individual trades, at just $0.10 per contract.

High Payouts

The higher the ​returns, the better. That’s the whole purpose of binary options trading, after all. Most ​brokers offer payouts between 50% and 100% when trading binary options. However, you’ll sometimes find one that says you can get up to 200% for a successful trade.

Before you sign up with a broker and invest your funds, know what you’ll be getting back for each successful trade. You don’t want to invest a lot of money and only get a little—or worse, none—back.

Binary Option Bonuses

​A binary options bonus is a way for some brokers to attract new customers. ​A bonus can come in several different forms including deposit match bonuses, sign-up bonuses, or risk-free trades. For deposit match promotions, most brokers provide match anywhere from 20-100% of your initial investment. ​​There are certain terms and conditions that have to be met before you can withdraw this money. For example, you can’t just sign up and then immediately withdraw your bonus funds. ​However, it’s still a great way to mitigate your risk and increase your profits.

Demo Accounts

​Binary option demo accounts allow you to explore the broker’s platform. You get a certain amount of virtual funds to use as you navigate the platform and learn how to predict the market.

You should also know how realistic the demo account is when compared to a live account. Demo accounts may not prepare you for the fast-paced, unpredictable nature of the real markets.

If a broker doesn’t offer a ​free demo, you may want to steer clear of them.

Social Trading

Social trading is even more helpful in learning the market than a demo account or educational materials. With social trading, you can observe VIP traders or friends as they trade assets.

Social trading can help you improve your technique by watching someone more experienced. If you emulate their methods and predictions, you have a higher chance of learning by example and improving your ​profits.

Binary Trading Signals

Not all brokers have binary trading signals or alerts, but they can be immensely helpful, especially for newer traders. These signals indicate the direction of a given market, giving you hints for getting an optimal payout.

Advanced brokers may not need binary trading signals, but beginners can benefit from them. Traders just starting out should look for a broker that offers this feature.

Final Thoughts

Choosing a binary options broker isn’t as simple as it may seem. It involves several crucial factors, and each broker offers something different. The ​top binary ​brokers go beyond the basics, so make sure you research your broker before you make your initial deposit.

Robert Wolfe is the founder and chief editor of Impact Investing Collaborative. Robert is an expert trader with over 10 years of experience trading binary options, Forex, and CFDs. He prides himself in providing accurate and in-depth reviews in order to help others find a trading platform that fits their needs. When Robert isn’t actively trading or managing Impact Investing Collaborative, he enjoys spending time with his 3 kids, playing golf, and spending time outdoors.

Welcome To Our Site!

My name is Robert Wolfe and I’m an online trader with over 7 years of experience trading financial instruments such as binary options, CFDs, forex, and stocks. I created this website to share my knowledge of the industry so you can avoid the same mistakes I’ve made.

Binomo Review

​Binomo is a trading platform that allows you to trade binary options, cryptocurrency, forex, and CFDs. This broker has clients from 133 different countries and is one of the most popular brokers for traders from India, Brazil, Indonesia, Vietnam, Russia, and Turkey.

​Binomo was established in 2020 and is owned by a company called Dolphin Corp, located in the St. Vincent and the Grenadines. With over 887,470 daily active traders and over 30,000,000 successful trades per week, Binomo is one of the largest brokers.

But is Binomo right for you? Can they be trusted? In this Binomo review, I’ll tell you everything you need to know about this trading platform.

​St.Vincent and the Grenadines

​IF​C (International Financial Commission)

​High/Low and Turbo

​iOS and Android

​Number of Assets:

​Credit Cards, Cryptocurrency, WebMoney, Neteller, and More

​Minimum Trade Amount:

​Countries NOT Accepted:

Table of Contents

​Trading Platform

Binomo uses a proprietary trading platform for all of its traders. The platform uses SSL protocol to ensure that all data is encrypted and secure, so your ​money always stay safe during any trading conditions. The security of customers’ data is critical, as it determines how well the Binomo can protect financial information.

Without certain sensitive financial information such as credit card numbers, bank information, and other personal data, you can’t deposit or withdraw ​money, which makes platform security necessary. Having this first layer of protection from Binomo benefits you as the trader and preserves Binomo’s reputation.

Beyond the basics, the Binomo platform consists of several useful components to enhance your online trading experience. Charts, hotkeys, and fast refresh rates all have the potential to increase your payouts. Binomo offers all of these and then some.

Their platform has more than 20 different graphical tools to help you analyze your trading charts and history. Hotkeys allow for quick access and quick online trading, and they’re unique to Binomo. You won’t find them with any other traders. Additionally, Binomo provides an economic calendar integration and independent tabs for use with these various charts.

Their streamlined and efficient platform also includes many scalable features, along with the option to​ start trading with just one click—no confirmation needed. That, combined with the quick refresh rate, allows discerning traders to seize opportunities the moment they arise.

With their feature-rich platform, Binomo proves they have spent time evaluating and integrating the most essential elements to binary option traders.

Trade Types

Binomo offers the standard High/Low options trade type, also known as call/put options, and Turbo Trades. High/Low options are your standard call/put derivative options and are generally available from all binary options brokers.

High/Low options involve predicting whether the final market price of an asset will rise above or sink below the price at the start of a specified time limit. Turbo trades are similar, except with shorter time limits.

Although they don’t have a wide selection of trade types on their platform, Binomo does provide non-stop trading availability. The market never closes, which means you can trade whenever you want—including on weekends—setting them apart from other ​online brokers.

Regulation

Binomo is regulated by the International Financial Commission (IFC) and has been a Category A member since 2020. The IFC is an independent organization that helps regulate financial markets, and the fact that Binomo is both regulated and a Category A member speaks to their reputation as a​n option broker.

One benefit for traders is that the IFC has a compensation fund for all of its members. That means that if something were to happen to Binomo to compromise funds, traders would be protected for up to 20,000€. This protection assures traders of the safety of their ​money and lets them know that Binomo values your resources.

In addition to being a Category A member of the IFC, Binomo is certified by the FMMC. They’re also regularly audited by the VerifyMyTrade branch of the IFC. Their last audit was completed on February 13th, 2020, and the results passed the standards for execution quality. These regular audits and their independent certification speak to Binomo’s integrity as a broker.

Additionally, Binomo is in the process of acquiring a license via CySEC. For international customers, regulation is critical in determining which broker to select, and these certifications, audits, and regulations are signs that Binomo is a reputable broker with favorable trading conditions.

​Binomo Account Types

​When comparing ​online brokers, one of your first steps is to examine the different ​types of accounts that they offer. What is the minimum investment required? What are the benefits of the various entry points?

With Binomo, you can start with or upgrade to one of three account types. Each ​level offers various benefits, and as your investment increases, so do the potential yields and bonuses. Binomo has three account levels: Standard, Gold, and VIP. Let’s look at each of the account​s, what they require, and what you get when you sign up for each.

Standard

If you’re just getting started with binary option trading, the standard account may be your best match. It only requires $10 to ​start trading at this level, and you get access to 39 assets on the platform. Having a smaller number of available assets could be less overwhelming if you’re a beginner. It allows you to focus on understanding what you’re working with instead of the number of options available. Additionally, the low entry cost means that you won’t have to worry about risking your ​money. Other features ​include:

  • 3 days to withdraw payouts: Your funds will be available in your preferred method of payment within three days. This may seem like a while, but you’ll find longer wait times with some ​brokers.
  • Standard tournaments: Access to Standard tournaments allows you to participate in contests that may give you bonus funds
  • 84% max yield
  • 80% max bonus

For those with the capacity for more substantial investments, the Gold option is your next entry point. A Gold account requires a $500 ​deposit—quite a jump from Standard’s $10. A Gold account allows you access to more assets than the Standard ​level, so you get 42 instead of 39, and you will have earlier access to your funds. Instead of it taking three days to withdraw payouts from your account, you will be able to access them in 24 hours.

You’ll notice several other benefits with this account type that you won’t find with Standard accounts, including:

  • Gold tournaments: These tournaments have higher potential earnings than the Standard tournaments.
  • Manager: Aside from having someone who can assist you with your account, the benefit of having a manager is that sometimes they can provide you with a bonus deposit of matching funds.
  • Investment insurance to protect your assets
  • 86% max yield
  • 90% max bonus

The highest account tier you can get is ​VIP. This account has all of the features a VIP status should offer. You get quick access to your money, more assets to trade with, higher yields, and more bonuses. A VIP account requires a $1000 deposit. These funds give you access to 49 assets and only a four-hour wait time when you withdraw funds from your account. To assist you in managing your investment, you also receive a VIP manager. Your VIP manager provides support and assistance, as well as possibly offering bonuses.

Other features ​include:

  • VIP tournaments
  • 90% max yield
  • 100% max bonus
  • Investment insurance
  • Individual offers

For experienced ​traders, this type of account ​offers a significant benefit, especially when it comes to maximizing your ROI.

​Binomo Demo

When you’re considering an online broker, it’s a good idea to explore the company’s demo account before trading in a real account. Using a demo account will allow you to evaluate the platform and see if it offers all of the tools and features you want in an online trading broker.

Demo accounts are an opportunity to test drive before buying. You can become familiar with the platform’s processes for making trades and the layout of the user interface. A good broker will offer users a free demo opportunity, and Binomo does.

Binomo offers traders the opportunity to practice strategies and become familiar with the platform with their demo account option. To create a demo account, all you need to do is sign up with your email, and you will receive $1000 in virtual money.

These risk-free funds will allow you to see if Binomo meets your needs as a trader. If not, it’s easier to opt out than it is to close an account you’ve already invested in.

Assets

As far as assets go, Binomo has a selection that is comparable to others. At the highest account level of trading, you have access to 49 different assets that cover a range of asset types. Having a diverse selection of assets allows you to pinpoint what you are most comfortable trading. Binomo offers a wide array of assets that includes:

  • Commodities
  • Stocks
  • Currency pairs
  • Indices
  • Cryptocurrency
  • Commodity pairs

​Binomo ​Trade App

One feature to consider ​is whether or not the company has a mobile app. Mobile apps allow you to trade from any place, at any time, which can help you earn more payouts.

Binomo does have a mobile ​trading platform. You can find the iOS app in the Apple Store or the Google Play Store for Android.

One feature available on the app that you can’t get with the web platform is the option to receive notifications. Notifications can help maximize your profits by alerting you to market trends and letting you know when you meet certain trade preconditions.

Spreads, Commissions, and Leverage

Most ​trading platforms don’t charge a fee or commission. Instead, they ​earn money when a trader makes an incorrect prediction, thereby losing the trade. Per industry standard, Binomo does not charge a fee for their services. The fact that Binomo earns its money from traders who lose their funds means that for the traders who invest with large amounts, it can be quite a lucrative investment.

Binomo’s treatment of their VIP clients speaks to their earnings. The 90% max yield and 100% max bonus equate to higher payouts. On the other end, the ability to invest and learn at a lower entry point means that their Standard traders do not lose any of their investment to spreads or commissions. As with most other binary options platforms, Binomo does not use leverage. If leverage is important to you, another platform or broker might be a better match.

Binomo Bonuses and Promos

Many ​brokers offer bonuses and promotions for your first deposit. However, at the moment, Binomo does not have any promos or bonuses advertised.

They do have regular tournaments, each one unique to the different account levels. The cost of entry ranges from free to $30, depending on the level and type of tournament. The prize funds for the tournaments begin at $300 and reach as high as $40,000. Additionally, as we mentioned in the accounts section, there are bonuses available at the Gold and VIP account levels.

​Deposits and Withdrawals

​With Binomo, the minimum deposit required depends on what type of account you want to open. You can get started trading with real money for as little as $10 with a Standard account, but for a VIP account, you’re looking at dropping at least $1000 right away.

When you withdraw your money, you may encounter a 10% fee, but only if you haven’t made a minimum number of trades. The website uses SSL to keep your data encrypted and safe, and funds of up $20,000 are protected against fraud. For deposits and withdrawals, you have several different options:

  • Credit Cards (Visa and MasterCard)
  • Bitcoin
  • Litecoin
  • Neteller
  • Jeton
  • Indian Banks

Is Binomo A Scam?

No, Binomo is not a scam. Binomo is a legitimate online trading platform that is used by thousands of traders everyday from 133 different countries across the world. This broker is a category “A” member of the IFC (International Financial Commission), which includes up to $20,000 in protection for case disputes. By joining the IFC, Binomo reaffirms its commitment to maintaining the highest standards of conduct and business practices.

Yes, ​binary option trading in India is legal with Bonomo. However, this broker is not regulated by the Securities and Exchange Board of India. Binomo is an offshore broker and is based out of St. Vincent and the Grenadines. They accept traders from over 113 different countries, including India.

Customer Support

​Binomo has several options for how to reach out to them.

  • Chat: On their website and ​app, there’s a chat window that pops up and provides you with a live chat option. The live chat function is robust and supports multiple languages.
  • Skype: Binomo displays their Skype handle prominently on their website, in case you’d prefer to reach out to them there. Contact them at support.binomo.
  • Email Address: Perhaps your concern doesn’t require immediate attention. In that instance, you can send an email to [email protected], and they’ll reply as soon as they can.

Dolphin Corp
First Floor, First St. Vincent Bank Ltd
James Street
Kingstown
St. Vincent and the Grenadines

With a ​broker like Binomo, you want to know what you’re getting with your investment. Check out the advantages to their platform and policies to see if they’re right for you:

  • Responsive customer support
  • Non-stop trading
  • Robust demo account
  • $10 minimum deposit
  • $1 minimum trade
  • Availability of weekend trades
  • Potential 90% maximum profit
  • Tournaments with prize funds

Although there are many benefits to Binomo, it will not be the best option for everyone. If you’re looking for any of these features, you will, unfortunately, be disappointed:

  • Limited number of assets to choose from
  • Limited trade types
  • Not supported in the USA or Europe
  • Despite it being a Category A member of the IFC, it is only certified under the FMRRC
  • No social trading
  • No signals

Final Thoughts on Binomo

Binomo offers a wide range of features and tools that make it a viable, user-friendly platform for many traders and investors who are interested in entering the binary options market. Binomo has something for traders of every skill level.

Its functional mobile app is particularly seamless, and its low entry cost at a $10 minimum deposit means that even new traders who aren’t yet ready to dive into the world of ​online trading can try it out with little to no risk.

At the same time, its charts and strategic tools can still satisfy the more disciplined binary options trader. Overall, it’s a solid, reliable pick for your next binary options broker.

Binomo Review. Start trading from just $10!

Whether you are a beginner to binary options trading and making a choice on that first broker or already have some experience and are either not entirely satisfied with your current broker or simply interested to compare, it makes sense to put in some research time. There are now a great many binary options brokers on the market. Many of them are not particularly distinct from each other and often use one of 2 or 3 popular white label trading platforms and others have a greater degree of uniqueness to the service and product they provide.

Because there are differences in terms of both the trading options available, minimum value of positions and deposits and trading platforms, it is important to make sure a broker offers what you need before opening an account and making a deposit. Customer services and security are also of course primary considerations. In our review section we’ve covered and summarised all of the most important information on as many of the binary options brokers currently on the market as possible. We hope this will provide a valuable resource when it comes to helping you select the best broker for your requirements!

In this review we take a look at Binomo.

Company Information

On the market since 2020, the Binomo brand belongs to Seychelles-registered holding Tiburon Corporation with payment services operated out of Cyprus by Stagord Resources. The ownership of the broker appears to be Russian and Binomo first established itself as a binary options brokerage brand in Eastern Europe before developing a broader international market in Western Europe and Asia.

Although Binomo does have a registration with voluntary opt-in organisation CROFR, the broker is not yet regulated by a government-controlled financial services regulatory body though the website does claim that CYSEC regulation is ‘pending’. Despite the lack of officially recognised regulation, Binomo’s approach to clients has been recognised by a number of awards. These include ‘Best Broker for South Eastern Europe’ at the 2020 IAIR Awards and ‘Best Broker for Beginners’ at the 2020 Forex Expo Awards.

Assets Available

Binomo traders can choose from a solid range of assets across indices, equities, currencies and commodities. Overall there are over 70 choices, which while not the deepest range available on the binary options market, will be more than enough for the vast majority of traders.

Bonuses & VIP programs

Binomo has a range of promotions and bonuses that traders can take advantage of. New account holders are offered a deposit match on their first deposit. This varies from 20% up to 100% of the value of the initial deposit, with larger deposits attracting the larger bonus percentage. Deposit match bonuses are also often opened for several days at a time to encourage existing account holders to top up their trading funds if they are running low. One drawback to accepting bonuses is that the trader must then trade the value of the bonus at least 35 times before being able to make subsequent cash withdrawals from their account.

Additional promotions include occasional free-to-enter trading tournaments for beginners that can have cash prizes of up to $500. There are also tournaments for more experienced traders that have a buy-in, where prizes funds can reach $10,000+.

Trading Platform

Rather than opting for one of the usual white label trading platforms most common for binary options brokers, Binomo have taken the admirable decision to go it alone and develop their own proprietary platform. The top white label platforms are high quality products but at the same time it is refreshing to see something a little different.

Binomo’s platform takes a minimalist approach and has cut out all but the necessary functionality required to place binary options trades. This will appeal to many traders who value ease of trading above all of the add-ons some platforms have, which can clutter the screen and detract from core usability.

Binomo doesn’t offer the alternative binary options formats that have become standard with many brokers, such as Ladder and One Touch options. However, the statistics show that these are only popular with a relatively small number of traders so most won’t miss their absence.

Mobile

Apps versions of the trading platform are available for Android and iOS mobile devices and have been built to a very high quality. The general simplicity of the trading platform means it lends itself naturally to a smaller screen format and there is also no noticeable time lag when placing trades, which can sometime be an issue with trading platforms on mobile devices.

Desktop and mobile apps also sync so traders can open a trade on their laptop or desktop and then subsequently monitor and manage it on the go.

Fees, Payouts and Trading Features

There are no fees attached to holding an account and generally using the Binomo trading platform. Charges that do exist are a 10% levy on withdrawals made before the value of the deposited balance has been traded at least twice and that the broker will close an account and claim the remaining balance in it after 6 months of inactivity. No charges are applied to standard withdrawals, which many brokers do apply.

Additional trading features are limited, with the Binomo platform sticking to the standard binary options but one major advantage to the platform is that the starting value for options is only $/€1.

Deposits and withdrawals

As mentioned earlier, one major advantage that Binomo boasts is that accounts can be opened with a minimum balance of just $10, or equivalent in another of the base currencies accepted. The minimum withdrawal value is also $10 and no charges are applied to withdrawals. Processing time for withdrawals is given as being within 3 working days. Both deposits and withdrawals are made by debit and credit card with Visa, Mastercard and Maestro all accepted.

One drawback is that Binomo does not currently support bank transfers or e-payment providers for deposits and withdrawals.

Customer support

Customer support is offered via a variety of communications channels including Skype, chat, telephone and email, with 9 different languages also supported, including several Asian languages such as Mandarin, Thai and Indonesian in addition to the usual major European languages.

Extra features and resources

Binomo doesn’t provide traders with many extra features and resources but there are a number of tutorials on different trading strategies available as well as unlimited access to a demo version of the trading platform.

Verdict

Binomo’s major strengths are the simplicity and accessibility of its trading platform and the fact that it offers minimum deposit and withdrawals levels far below those set by most of its competitors. $1 binary options positions are also much lower and will be particularly attractive for beginners still learning how to trade effectively and focused on keeping potential losses to a minimum.

Customer service response times and helpfulness have been criticised and is obviously an area where improvements can be made. Otherwise, CYSEC regulation moving from ‘pending’ to actual will be a significant step in the right direction for Binomo.

Pros:

  • High quality proprietary trading platform
  • $1 minimum investment
  • $10 minimum deposit
  • $10 minimum withdrawal
  • No fees for withdrawals

Cons:

  • Not regulated
  • Heavy turnover requirements attached to bonuses
  • Balance held in inactive accounts claimed after 6 months
  • Is Binomo a good binary options broker for beginners?

Yes. Binomo’s trading platform is very easy to use and is perfect for beginners. A minimum deposit level of $10 and minimum binary option stake of $1 is also perfect for beginners.

$/€10 or equivalent in other base currency

  • How long does it take to withdraw funds?

3 working days or as little as 4 hours for VIP account holders

No, though the broker does claim that CYSEC regulation is pending

Binomo.com Review Visit site

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Consumer Reviews

Service use: Live

Length of use: 0-3 Months

Service use: Live

Length of use: 0-3 Months

Service use: Live

Length of use: 0-3 Months

When i heard news there is a binary option broker , which is offering free trading contest daily. I signed up immediately. To test their system and platform. After many days of hard work and going through trading stress , i was able to win one of the contests and finally i got real money prize.
When it cam to withdraw those winnings , they refused to do so , and asked me to deposit my funds first after than the Contest winnings are withdraw able.
But after more research about this scam broker i realized that , even after i put my money in to their account , they have terms and conditions to fulfill
for example:
Certain type of account turnover etc,
Even after than who knows i had that amount in my account or not .

So about the platform ,
You can say they have most of basic TA tools , and indicators. But the trades and intentionally delayed, means they don’t have fast execution. If you have a chosen a price to enter into a trade , 80% of the time you will not get that , because of their fix into the platform. As a result 80% of your trades are out of the money.

Final Words .
This broker is a Scam who spreads lies about Free Trading Contest , i believe this is their scam to lure now traders in. Even if they win contest prize , the traders are never going to get their earnings withdrawn .
This broker has fixed platform , rigged in their favor.
Please Don’t waste time on this platform like i did, Never spent many hours a day attempting to earn through a SCAM broker.
Stay away from this broker as much as possible.
Trust me you will thank me later.

Binomo Review

Introduction

Established in 2020, Binomo is a binary options broker registered in St. Vincent and the Grenadines under the trading name of Dolphin Corporation. They seem to offer everything that you would expect from a top level firm. While still awaiting CySEC licensing, they do hold an FMRRC certificate making them a regulated broker.

In addition to low trade requirements, they offer many other features. Various timed welcome bonuses and a demo account with $1,000 are just two of the benefits so you can start trading. They also offer comprehensive customer support and an excellent mobile trading experience for those who like to trade the markets on the move.

To find out more about this broker and whether they are the right choice for you, we have put together our comprehensive Binomo review. Our financial experts spend time analysing every aspect of trading with this particular broker to ensure that your trading experience is a good one. Find out more about why we think Binomo is an excellent choice.

In this review, you will learn:

    What makes Binomo stand out from their competitors The different trade types, payouts and assets available Why we think this broker is a good choice for traders

Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain from referring new customers.

Account Types

There are many account types available from Binomo, all of which require different deposit amounts and offer a range of benefits:

Standard Account

You can open a Standard account with just $10. This is a real account and you get all of the benefits of the Binomo trading platform which include:

    Access to most of the assets (there are 70 in total on the platform) Profits of up to 85% Minimum $1 trades, great for new traders looking to enhance their trading skills Withdraw money in up to 3 working days Technical support and great customer service support

Gold Account

A Gold account requires a minimum deposit of $500. In addition to the above, Gold account holders receive an extended range of assets to choose from, faster withdrawals (up to 24 hours), increased bonuses, advice and analytical support plus a weekly cashback amount of 5%.

VIP Account

For those who are more serious about trading, a VIP account requires a minimum deposit of $1,000. VIP accounts give you, the account holder all of the above benefits plus bonuses of up to 100%, fixed trade profits of up to 87%, withdrawals in less than 4 hours and a weekly cash-back of 10%. It also gives you access to all assets on the trading platform.

Despite the proprietary trading platform offering a VIP account, the deposit is still low in comparison to other brokers who require a much larger deposit on their top end account. Low deposits further indicate that this broker is a fantastic choice for those that are new to trading.

Trade Types And Payouts

The trade types available from Binomo are a lot less than you would receive from other brokers. They only offer High/Low Options and Turbo Trades. Expiry times for High/Low options are 15, 30 and 60 minutes. Another sign of a low entry-level focused on new or inexperienced traders is the inclusion of the simpler pair options.

They are also restrictive on the number of assets available with a maximum of 70 only being available to VIP account holders. Payouts range from between 70% – 87% which depends on the type of account that you have.

High/Low Trades

High/Low Options are the classic type of binary options trading and are otherwise known as the Call/Put options. The aim of this is to predict whether the price of the asset that you select will go higher or lower than the current price by the expiry time.

The low deposit and minimum trade requirements add weight to their favourability.

Bonuses And Promotions

Special offers are available, but many are date sensitive and change from time to time. They are prominent on the website though so you don’t have to go looking for them. Welcome bonuses seem to range from 25% to 100%, but often they are a little more complicated. One example of this is the bonus that allows you to make a deposit and get up to $150 of free options.

Mobile Trading

Being able to binary options trade on the move is make or break for a broker in this age of digital technology. The best binary options brokers offer a mobile app with others providing at least a mobile responsive website that recognises the device you are using. Binomo also offers an app which is available on the App Store, for iOS users and Google Play, for those using an Android device. Both mobile apps offer the best trading conditions compared to the website in our opinion.

The beauty of using the Binomo app to trade is that you can set it up to receive notifications, something that you can’t do with the website version of the Binomo trading platform. So, when you login with Binomo, wherever you are in the world, and whatever you are doing, as long as you have an internet connection you can carry on mobile trading.

Deposits And Withdrawals

Standard account holders can open an account with a minimum deposit of just $10. For Gold and VIP holders this is more. It is easy to make a deposit using one of many accepted payment methods including personal credit cards like Visa and MasterCard. Once you have made a deposit, the funds are available immediately to trade on the market.

If you are making a withdrawal, you merely request the amount that you wish to withdraw. Ordinarily, there are no withdrawal fees however if you haven’t traded your deposit amount a required number of times, then you will be charged a 10% fee. The time it takes for the withdrawal to reach your account depends on the account status that you hold. For Standard Account holders, it is three working days. Withdrawals can be expedited to less than 4 hours if you have a VIP account.

Special Features

Binomo has lots of desirable features. Not least their demo account which gives you virtual funds of $1,000 in return for your email address. We have already mentioned the low deposit and minimum trade requirements which add weight to the favourability of Binomo as a beginner’s platform. Their customer support seems to be comprehensive, and they are contactable in some different ways.

Another feature of the Binomo platform is the analytical support and advice that is available to Gold and VIP Account holders. They also offer “free training” which includes an extensive knowledge base, great for traders who want to learn more about binary options trading effectively. Binomo investment do not currently offer Forex trading, look for Forex brokers if you want to trade Forex currency pairs.

Customer Support

Being able to access the broker with questions and concerns is essential, especially to new traders. If you have a problem or a query, you want to know that it will be dealt with quickly and efficiently. Binomo offers a live chat function. Just click the little red message icon at the bottom of the screen, whether on a desktop or a mobile device, to open up the live chat box. You will then see a list of language options.

Besides live chat support, there is also a contact link at the bottom of the website. Here you will find the opportunity to contact Binomo support via Skype or email. There is also an address and a message box. The message box has some fields including your name, email, telephone number and details of your message. They also have a Facebook page and Google maps embedded into their website. All of this would indicate that they are easy to get hold of and highly visible.

Here are the contact details for Binomo:

    Email – [email protected] Skype – support.binomo Address – Dolphin Corporation, First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines.

Conclusion

All in all, Binomo seem to be a good choice for the new trader. Our conclusion is largely down to the fact that they offer a minimum deposit of $10 and a minimum trade amount of $1. Even if you were only to deposit $10, you would be able to execute ten trades to test the platform. $10 is less than you would lose from one trade on many of the other popular platforms with a minimum trade requirement of $25. In addition to this, their demo account is straight forward enough to encourage most newbie traders to give it a go. All you need to enter is your email address.

Customer support seems reasonable, and the mobile trading experience is suitable for trading on the go. The site is intuitive and easy to navigate. In our opinion, if you are looking for a broker that suits the first-time trader, then Binomo seems like a good choice. We would also like to state that during our Binomo review, we conducted our fraud due diligence to see if this binary option broker was a scam or not. We managed to deposit and withdraw fund with no issues and as a result, have no problem with this broker at present.

Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain from referring new customers.

Frequently Asked Questions

Is Binomo legit, will they scam me?

We have found no evidence to suggest that they might scam you, and the fact that they have been regulated for a few years without incident indicates that this is a safe broker.

Do they have a decent mobile or tablet app?

Yes, Binomo offers a mobile app for both iOS and Android users. Their website is also responsive. The apps are free to download and mean that you can trade on the move.

What bonus do they offer for new traders?

Binomo offers a variety of binary option bonuses that change regularly. They range from 25% to 100% and are deposit match bonuses. Match bonuses mean that you will get a bonus depending on the amount of your deposit.

Can I start trading on a free demo account?

You don’t need to make a deposit, enter your email and you receive $1,000 of virtual funds. You can then use the virtual platform to get yourself familiar with its functionality.

What’s the minimum deposit and trade amount?

The minimum deposit is $10. The amount is low in comparison to other binary options brokers. The minimum trade amount is just $1. Many brokers require a deposit of at least $25 with a minimum trade of this amount as well.

Jacob has been an author for us since our launch in 2020. He has over forty years’ experience in the financial sector and has held a variety of positions within financial services corporations and venture capitalist organisations.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    1st Place! Best Binary Broker 2020!
    Best Choice for Beginners — Free Education + Free Demo Acc!
    Sign-up and Get Big Bonus:

  • Binomo
    Binomo

    2nd place! Good choice!

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