Binomo Review – Honest Review updated for 2020 (+5 powerful trading tips)

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

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  • Binomo
    Binomo

    2nd place! Good choice!

Binomo

Binomo is a popular trading option for those interested in Binary Options. Unlike many larger-scale trading platforms, Binomo has the same level of focus on low trade size requirements – ideal for managing risk – as well as VIP options for the serious traders that are well-used to Binary Options trading. With returns up to 90% per trade, and low cost entry requirements, the time to start is now!

Filled with excellent features, and plenty to talk about, there’s a reason why this FMRRC licensed service is the top pick for traders of all shapes and sizes.

This review will examine all there is to know about Binomo, providing insight for you to decide if it’s the right fit for your trading journey.

Trading Platform

As a service that focuses on Binary Options, Binomo have been able to provide a streamlined, efficient and practical trading platform designed specifically for purpose.

While, on release, the company utilised the popular but limited SpotOption terminal, they have since moved away from package solutions into a completely proprietary design that’s the perfect fit for online trading worldwide.

Designed to be modern and functional, Binomo’s trading platform is regularly updated with high-quality features as well as to fix any bugs that arise swiftly.

Some of the smartest features included as part of the Binomo platform consists of a range of 20 different graphical tools to aid in chart analysis, the ability to use hotkeys and keyboard controls and independent tabs for use with charts.

Other handy features, such as an Economic Calendar integration and fast refresh rates, make Binomo even more useable than alternatives on the market. Efficiency is also clearly relevant to the brand, with plenty of scalabilities plus the option for fast, one-click trading with no need for confirmation.

Alongside these exclusive features, Binomo also offers support for daily tournaments, something that can be a challenge to host for many virtual trading platforms.

However, the quality and consistency of Binomo’s design makes it easy for the service to be feature-rich, and offer plenty of advanced tools and technologies to its audience. For those that enjoy slick, mobile-ready platforms, Binomo might be an ideal option.

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!

Assets/Markets

Binomo boasts more than 50 different assets for their traders to utilise, in addition to spanning across several markets to provide their customers with a flexible and versatile range of different options to pick from.

In comparison to more specialised trading platforms, this greater range can be advantageous to traders looking to dabble in different markets or try out different assets.

While Binomo only offers High/Low trading contracts, this is more than made up for with the range of assets on offer.

The following are some of the current options available to those looking to trade on Binomo:

  • Commodities e.g. gold and oil
  • Stocks from popular companies e.g. BMW, Disney and Google
  • Currency pairs e.g. AUD/USD and GBP/USD
  • Indices e.g. CAC40 and DAX
  • Cryptocurrency e.g. Bitcoin and Litecoin
  • Commodity pairs e.g. silver/gold

By offering a broad choice of different assets and options to traders, Binomo ensures its services are suitable for a more comprehensive range of traders, especially when it comes to highly-valued stocks and currency pairs – which many other trading platforms don’t offer alongside more standard commodities or currency pairs.

The cryptocurrency range that Binomo offers is one of the areas it lacks in, with only Bitcoin, Litecoin and CRYPTO IDX on offer.

Spreads & Commission

As is standard with most Binary Options trading platforms, Binomo doesn’t charge a fee for the use of their services.

The platform doesn’t charge a fee to traders based on commission either. Instead, the service makes its income through the money gained when a trader loses a trade.

This method makes it a highly lucrative option for traders, especially those that prefer to trade at higher levels.

It’s also worth noting that Binomo offers an extra incentive to VIP clients in the form of payouts, between 87-100% in most cases. Alongside the lack of fees and lower cost for traders, Binomo is a highly attractive option for many traders – whether they’re starting out or are old hands in the industry.

Leverage

Like the majority of other digital option platforms, as a Binary Options trading option, Binomo does not utilise leverage as part of its offerings.

For traders looking specifically for leverage, they may find more success elsewhere. However, Binomo has plenty of other advantages that make it more than worth further investigation for anyone sitting on the fence.

Mobile Apps

Binomo offers a high-quality, fully realised mobile app in addition to providing a mobile-reactive platform for the desktop version of their service. Their trading app is available on both iOS and Android.

It utilises push notifications to keep traders up to date on transactions, promotions and tournaments within seconds of them being launched. The use of notifications and the overall quality of the app makes Binomo a suitable choice for those that prefer to trade on the go.

All the essentials are covered in the app, and while the desktop platform may still be needed for more in-depth analysis and those little details, there’s value to being able to carry your trades in your pocket with you wherever you go.

The Binomo app is themed to match its desktop design perfectly, providing a cohesive experience for those who prefer to switch between the two at leisure.

Payment Methods

Funding accounts is one area that Binomo has made incredibly easy, in part thanks to catering to an international customer base – which means far more options than the average country-specific service.

Top choices for funding your account include using a VISA or MasterCard bank card, while additional international payment systems are also supported. Binomo recommends a starting balance of $500 for their platform, which can then be topped up as much as 100% depending on promotions and bonuses available.

The minimum deposit is $10.

Demo Account

Binomo offers a cohesive and fully accessible demo account to interested parties, which is available simply by entering an email address.

This account is well-stocked with a virtual $1000 upon sign up and can be topped up at any time for those looking to get adventurous with their planning and grasp of the platform.

All functionalities are available within the demo account, ensuring you can get an exceptional understanding of the Binomo proprietary platform without even stepping foot into the live markets.

Deals and Promotions

Binomo regularly offers excellent deals and promotions to their customers, whether it’s in the form of topping up their account with additional funds upon deposit or providing a great sign-up promotion.

EU traders will not see any offers, but RoW regions (such as Brasil and South Africa) will see some promotions.

These deals vary from day to day, so your best bet is to keep an eye on what’s out there to get the best value for your money. For beginners to trading, depositing $500 can give you access to additional support and one-on-one training to help fast track your learning through a personal manager.

Regulation and Licensing

Binomo is currently undergoing the process for licensing under CySEC, but at the moment the only certification they hold is through the FMRRC.

However, due to their Category A rating and general trustworthiness over the last five years, Binomo is still a safe bet for traders – especially those starting out.

In addition, to be accessible in certain countries, Binomo has been certified independently, further supporting their trustworthiness as a brand and service.

Additional Features

As a trading platform that focuses on quality and user experience, Binomo has a whole host of additional features that make them ideal for traders. This includes the use of numerous graph and analytical tools, in addition to quality-of-life features such as an inbuilt Economic Calendar, which can be customised as you wish.

Every addition Binomo places into its proprietary browser platform is of the highest possible quality, and new options continue to be added in free updates to this day.

Account Types

In line with other trading services in the industry, Binomo provides three individual tiers of accounts to their customers, based on their funding level within their account.

No additional payment or sign-up is required to achieve these account statuses. It’s also worth saying that deposit limits are based on funding over time, rather than single deposits – making it far easier than you’d expect to reach VIP account level if you so wish.

The three account types offered by Binomo are as follows:

  • Standard: $10 minimum fund, provides access to all features plus tournaments
  • Gold: $500 minimum fund, faster withdrawals, trading strategies and access to a personal manager
  • VIP: $1000 minimum fund, maximum privileges and a fully personalised services

While each account has its benefits, Binomo doesn’t push for traders to go beyond what they’re comfortable with. As such, users can access just about any advantage the site has to offer from a standard account, with additional benefits for those that reach the tiers above.

Benefits

For traders, beginner or expert, considering Binomo as a future trading platform, here are some of the good things we can say about the service:

  • Low starting requirements, ideal for those new to tradings
  • A fully kitted-out demo account that has all the tools for learning
  • A practical and convenient account tiering system
  • High-end functionality through a well-designed trading platform
  • Fast, easy and reliable withdrawals
  • The inclusion of tournaments, adding additional value and competition into the service
  • Focus on growing markets in Brazil, India and Indonesia

Drawbacks

Despite there being many positive things to say about Binomo as a service, there are also several drawbacks attached to this platform. These include:

  • Limited assets, especially when it comes to those that enjoy trading in cryptocurrency
  • Currently only certified under the FMRRC
  • No desktop software, only app and browser availability
  • Insights, signals or social trading is not available

Company Details

Founding in 2020, Binomo is now owned and operated by Dolphin Corp, who are registered in St. Vincent and the Grenadines.

With a Category A ranking under the International Finance Commission as of 2020, there’s no denying that this platform is as authentic as it is accessible.

The company’s membership to the Financial Commission is just one of the reasons it’s considered a trustworthy option, along with its positive reputation around the world. Binomo self-describes as a ‘client-oriented’ service, something that is carried across by their CROFR certification as well as their ongoing success in the industry as a whole.

5 Powerful Tips

These tips apply not just at Binomo, but most binary platforms. Level up your trading by making these 5 changes:

  1. Trade Size – Give yourself freedom to make good decisions by only trading between 2% and 5% of your balance on a single trade.
  2. Specialise – Get to know just a few markets well. Once you know an asset well, good trades will come to you.
  3. Trade Only With Money You Can Lose – Similar to trade size, you cannot make wise decisions if you need your trading funds to pay day-to-day bills
  4. Use The Demo Account – Use the demo account alongside your live account in order to practise, improve and test strategies.
  5. Be Disciplined – Don’t chase losses or pick trades randomly. Keep a record of your trades.

Trading Hours

As with many modern trading platforms, Binomo is available around the clock for the use of their customers. However, certain features, such as tournaments, will be held within specific time slots each day. For those that prefer to trade on their schedule, Binomo might be the ideal solution.

Contact Details / Customer Support

Binomo offers customer support through a range of different mediums, one of which is live support through their online platform. However, this live chat doesn’t seem to be open around the clock, so the alternative is contacting the company through social media or via their support email: [email protected]

In addition to their email, Binomo also provides their full address on their website, which is as follows:

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

Safety and Security

Binomo takes the security of its customers seriously and achieves this goal by using a proprietary platform specifically-designed to be encrypted and secure for all customers. They also utilise well-known, safe payment methods for both deposit and withdrawal, ensuring your cash is always kept safe.

According to Binomo, all customer funds up to $20,000 are protected against fraud, while the use of SSL ensures all data is encrypted and safe. This transparency and high level of security are one of the reasons why the trading platform continues to succeed against its competitors.

Overall Verdict

Binomo is a trading platform that takes its customer support and service seriously. Instead of charging hefty amounts for their services, and being inaccessible to newer and less experienced traders, the brand has chosen to welcome their client base with open arms.

For those starting out in trading, or old hands that want the high level of service that comes from a VIP account, then Binomo is an excellent fit. While it may be slightly limited, this only serves to make what they do offer even better-designed and highly effective.

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 – Is it SCAM or LEGIT broker?

Binomo

  • Nice and quick platform
  • Free demo to try the platform
  • Min deposit is only $ 10

Binomo is a well-known binary option, cryptocurrency, forex, and CFD trading platform. If you are interested to use this platform, it’s highly recommended that you should know a few things about its background and the tools available. In this complete review of the trading platform, we take a look at the different tools and functionality available on the platform.

At first glance, the Binomo trading platforms focus on technology. As a user, you can take advantage of the up and down movement of an underlying asset. This is indicated on the website when it explains that Binomo is primarily designed for traders who are willing to take advantage of the price movements of currencies, shares, and commodities.

Binomo is packaged for all types of traders and customers looking for access to helpful trading tools. And the way the website is designed and presented, traders will easily get the idea that the Binomo platform features the right set of tools that can help promote a streamlined trading experience.

What to Expect from the Binomo Platform

Binomo currently supports a web trading platform and a mobile app. When using the web platform, you gain access to more than 100 underlying assets. It works 24/7, which means that you have time to invest and trade using a variety of assets including cryptocurrencies.

Design-wise, the trading platform is unique and has been programmed by a broker. The platform is easy to navigate and users and customize the experience. There are different kinds of charts, tools, and indicators that can be used for technical analysis. Based on these tools, charts, and analysis, a trader can offer a forecast ad earn profits.

Binomo’s Platform review

One of the main advantages of the trading platform is its faster trade execution. Traders will not experience lag or connection issues that are common in other platforms. In short, Binomo allows you to enjoy a flexible and smooth trading process. On the right part of the screen, you will find a trading dashboard where you can execute trades.

The trading area is structured and there ‘hotkeys’ which you can use to complete trading. On the left side of the screen, you get access to various options. Here, you can check your trading history, learn a few strategies, or check out the news calendar.

Different chart type at Binomo

On the upper side of the screen, you can choose which asset to trade. When using this platform, you can use more than one chart. And switching from one chart to the next using a different strategy is easy.

In short, the Binomo trading platform is easy to use. You will find several trading tools and functionality which you can use to create winning trades.

Important Features of Binomo:

  • Use different charts
  • Features more than 20 indicators
  • Trade more than 100 assets
  • User-friendly and flexible
  • Web app and mobile trading available
  • Fast trade execution
  • Easy to customize trading platform

How to Invest in Binomo Trading Platform

With Binomo, you can make a trade based on the movement of the markets over some time. You can select the time of the expiry of the trade and choose short or long. After the expiry, the trade closes and you can expect a high payout or forfeit the investment amount.

The trading platform also allows you to predict the asset’s price movement and put your money in the direction that you expect. There’s no need to worry about the degree of movement; the important thing is to know if the final price is above or below the entry point to collect a profit. Here, the profit is defined by your chosen asset. Your risk in trading is the amount you have an investment. You can only lose what you have investment and you can collect a fixed profit.

The Binomo Trading Demo Account

You can also try the Binomo Demo Account to test the platform for free. When you sign up for a free demo, your account will be credited with $1,000 in virtual money which you can use to test some traders and strategies. You can use the demo account for an unlimited time, which means that you can top-up the account when you want it.

You need a Google or Facebook account to open a free demo account. If you don’t have any of them or don’t want to use them, you can provide your email and password to create an account.

Traders from the United States are not allowed to create an account.

Creating a free demo account with Binomo is a fun way to learn and appreciate the platform and trading without risking your money. If you are interested to open a free demo account, simply click this link. You can use the demo to know if Binomo is a perfect fit for you.

Deposit and Withdrawal

Binomo offers friendly cashier services for its traders. When we check the FAQ section of the trading platform, we noted the presence of several accepted payment options. Traders of this platform can choose from Visa, Mastercard, Neteller, and popular cryptocurrencies. Deposits are credited instantly which will allow you to enjoy trading instantly.

The minimum amount that you can withdraw here is $10. You can only withdraw your funds using the payment processor where you have completed the deposit. Withdrawal requests can take up to 3 working days. When withdrawing funds and taking the bonus, you must comply with the bonus conditions. Failure to comply with these conditions will invalidate the bonus.

Trading Bonus and Conditions

This trading platform offers several bonuses for traders. The most popular is the first deposit bonus which allows you to trade without risking money. Make sure you read the conditions before activating the bonus.

Here’s an example:

  • Say you deposit $5,000 and comes with money management of 1% each trade.
  • The agreed investment amount is $50. If you collect a 100% bonus, your balance becomes $10,000.
  • Now, you start trading spending $100 in every trade with a money management fee of 1%. In this arrangement, the bonus will give you more chances to grow your account.

Although the bonus can boost your account, keep in mind that it comes with certain conditions. For example, you need to complete a lot of trades before you can withdraw your funds.

Is Binomo Safe and Regulated?

This is a common question asked by traders. Yes, Binomo is licensed and regulated by the International Financial Commission (IFC) since May 2020. Also, the broker is certified by CROFR.

This means that Binomo is a safe and reliable platform for trading.

As part of its regulations, the trading platform is grouped in Category ‘A’. This is the highest level possible which means traders can enjoy only the best services possible. When you sign up for an account, your funds are protected up to €20,000. This is known as the compensation fund which can cover your investment in case the broker goes bankrupt.

Terms and Conditions

Pay attention to its Terms and Conditions if you want to sign up for its trading services. The platform features a client agreement that explains the conditions and rules attached to the use of the platform. Make sure to read this client agreement before starting your trades. You will notice that the first line of the agreement indicates that Binomo has been incorporated under the laws of the Republic of Seychelles. The client agreement will also cover disputes relating to trading and risks.

Although the company welcomes a growing number of countries, Binomo also boasts a few country restrictions. For example, traders from Canada, the USA, and the European Union are not allowed to create accounts. It currently focuses on the needs of traders from Africa and Asia. The platform also supports more than 20 languages including Thai, English, and Indian. The majority of the traders of the platform are from the following territories:

  • Binomo Russia
  • Binomo Brazil
  • Binomo Vietnam
  • Binomo India
  • Binomo Pakistan
  • Binomo Thailand
  • Binomo Malaysia
  • Binomo Nigeria

Types of Binomo Accounts

You can choose from 4 different types of accounts available on this platform:

The most basic option is one that features a demo account. The great thing about the demo account is that it allows you to test some strategies without risking your money.

The demo account is free to use and comes with a virtual fund worth $1,000. We highly recommend that you check out first the free demo account to see if Binomo is the right fit for you.

Another option available to players is the Standard option. According to the website, the Standard option comes with full tools and functionality.

This comes with a profit of 85% and a minimum trading amount of $1. This option also allows the traders to participate in tournaments and withdraw funds within 3 days.

Another option available for you is the Gold account that starts at $500.

The Gold account comes with all the tools and functionality from the Standard and a few extras. This account promises fast withdrawals of up to 24 hours, yields of up to 86%, and insurance bonus.

Finally, you can also take advantage of the VIP account where deposits start at $1,000. This platform is recommended for traders who plan to deposit huge sums of cash and looking for exclusive services and trading conditions.

When you sign up for this account, you can enjoy up to 100% bonus, yields of up to 87%, and the ability to withdraw within 4 hours. Also, VIP account holders can enjoy a weekly cashback of 10%.

Our Experience in Using the Binomo Platform

Binomo features all the products that every trader needs to start the trading experience and collect sizeable profits. Although the platform has a free demo and appears to offer the right set of trading tools, there are still a few things missing. For example, it needs to build its trading and education section. Also, the company is not fully regulated by CySEC. Overall, Binomo.com covers all the basic requirements when it comes to the trading platform. But if you an advanced trader and wants more, then you will find the platform as insufficient.

Have you tried using the platform? If yes, then we invite you to leave a comment and let the other traders learn more about your thoughts and experience. And if you have some questions, please don’t hesitate to leave it here.

On a personal note, I think that Binomo is a capable trading platform. In this comprehensive review, I included the features and advantages of the platform. Based on my hands-on experience, I can say that this is not a scam. You can try the platform in a free demo first before investing your money.

More info about Binomo

Binomo Pros

  • Nice and quick platform
  • Free demo to try the platform
  • Min deposit is only $ 10

Binomo Cons

  • Only english and russian support

Binomo – Review author

More about the author Step

I’ve wanted to build a business of some kind and earn money since I was in middle school. I wasn’t very successful though until my senior year in highschool, when I finally started to think about doing online business. Nowadays I profitably trade binary options full-time and thus gladly share my experiences with you. More posts by this author

Binomo Details

✅ Broker Binomo
✅ Website URL https://binomo.com
✅ Founded 2020
✅ Headquarters Mahe, Seychelles
✅ Support Types Email support, Online live chat
✅ Languages English, Indian, Bahasa indonesia, Thai, Spanish
✅ Trading Platform Custom made platform
✅ Minimum 1st Deposit $ 10
✅ Minimum Trade Amount $ 1
✅ Maximum Trade Amount $ 10 000
✅ Bonus FREE DEMO AND LOW MIN DEPOSIT
✅ Payout Up to 90 %!*
✅ Free Demo Account
✅ Regulated
✅ Deposit Methods Credit Card, Wire Transfer, Skrill, Neteller, Cryptocurrencies
✅ Withdrawal Methods Credit Card, Wire Transfer, Skrill, Neteller, Cryptocurrencies
✅ US Traders Allowed
✅ Mobile Trading
✅ Tablet Trading
✅ Overall Score 4.8 / 5

Open Account!

One Response to “Binomo Review – Is it SCAM or LEGIT broker?”

A lot of people are complaining that they quickly accept cash and you try to withdraw they make you frustrate is it true?

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
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  • Binomo
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