What you need to know about Binomo
Welcome to our review of the Binomo broker. We’ve got you covered with a ton of information, and we know you probably won’t read everything. Therefore, below is a summary of the most important elements from our review. If you are interested in more details, read the full version of the review. If you decide to open an account with this broker, use our green buttons – thanks to this you will receive a deposit bonus!
- Binomo was founded in 2014 by Dolphin Corp LLC
- Binomo is a category “A” member of the International Financial Commission, which guarantees the company’s customers quality of service, transparency of relations, and protection from a neutral and independent dispute resolution organization.
- The minimum deposit at Binomo is $10 & minimum invesment is only $1
- Returns are among the highest in the industry, reaching up to 90%.
- The broker has a very modern and regularly updated trading platform.
- Deposits and withdrawals take place within 2 business days. Most often, I received my withdrawal after 1 day.
- Binomo has several types of accounts. Among other things, a VIP account (total deposits over $ 1000), which allows you to recover part of the lost money within a week.
- According to Trustpilot, Binomo has an average rating of 4.5. This makes it the broker with one of the highest rating in the industry.
If you decide to open account using links on our website – you’ll receive 100% deposit bonus!
A few words about Binomo
In today’s review, we are taking a look at the real star among binary options brokers around the world. Binomo is one of the largest and oldest brokers to have won many international awards, and its distinctive feature is great quality deposit bonuses and a multitude of account types. The more money you deposit, the higher your account status is. After you deposit your first $ 1000, you become a VIP customer with increased returns, more assets and a weekly cashback of 10%.
Binomo is also the only broker that has achieved an A category in the International Finance Committee, which means you are guaranteed high-quality service, transparency and protection from a neutral and independent dispute resolution organization. At a time when most brokers do not have any regulation, Binomo reigns supreme with category A. If you are looking for a broker who will not cheat you, Binomo is the best solution. Of course, provided that you like the offer of this platform. And believe me, there is something to be interested in. In the next steps of this review, we will go into a detailed description of the platform, functionality, deposit / withdrawal methods and much more.
|Registration address||First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St.Vincent and the Grenadines|
|Regulation||International Financial Commission|
Binomo’s Trading Platform
We go to what is most important for every broker – that is, to the trading platform. Binomo has something to be proud of because it has one of the most smoothly operating platforms in the industry. The smooth operation and execution of orders is at the highest level. In this excerpt from this review, I will show you the entire platform and explain what the different tabs and functions are for. Let’s get to the point. On the left side of the platform there are the following tabs:
History – Here you can check the history of your trades or check the currently open positions.
Tournaments – You can sign up and take part in one of the many contests organized by the broker. Binomo is famous for offering high prizes, so if you want to try it, the prize pool is up to $ 55,000
Calendar – You can check here when the next economic event will appear. This is very useful for advanced traders who base their licks on the economic calendar. It is very good that the broker provides easy and quick access to the latest information.
Bonuses – Here you will find currently available bonuses. Bonuses will only be visible after paying the first deposit.
Education – In this tab, Binomo has prepared a few short educational videos that will introduce you to the world of investing. If you are a complete beginner, you will surely find something for yourself there.
The responsiveness of the platform makes a huge impression. It may seem insignificant, but I will be understood by anyone who wanted to check the economic calendar in a hurry, and his trading platform was stuck causing a lot of discomfort. At the bottom left, you will find the operation and tools for the chart
Interval – here you can choose what interval you are interested in. You have a wide range of 5 seconds to even 30 days.
Chart Type – you can choose which type of chart you like best. Of course, each chart has its advantages and it is good to match it with the strategy you are using.
Indicators – There are of course indicators on the platform. There aren’t many of them, but the most popular ones are definitely here. In this tab you will also find 10 strategies prepared by Binomo. It’s worth testing the strategies on your own skin.
Drawing Tools – If you need to draw lines or calculate Fibbonacci levels then you will find everything you need here. A wide range of graph drawing tools.
I honestly admit that I expected a greater selection of indicators. The platform looks ultra modern, but doesn’t offer many tools. There are drawing tools, of course, but I think you can expect more from such a recognizable platform. There are many other brokers with a wider range of indicators. Binomo does not do bad for sure, but it is not perfect either. Now we go to the right side of the platform. There is a position management terminal there.
Amount – selection of the investment amount. The minimum investment is $ 1
Time – Here you can choose at what time the position should expire
Up / Down Buttons – clicking one of these buttons will open an item in the direction you choose.
By clicking on the account status in the upper right corner, you can easily switch from a demo account to a real account. Next to it is a large yellow button that encourages you to make a deposit. Right next to it there is your profile icon, and after clicking on it you can check your status, complete your profile for verification purposes or contact support.
The top bar only shows the asset selector. After clicking on the “+” symbol, you can choose which asset you are interested in. Unfortunately, the selection of currency pairs is not very large and the returns for the basic account type are not the best. If you want to reduce the broker’s advantage over you, make a larger deposit to receive higher returns on investment.
Chart Scanner Feature
Recently, a novelty appeared on the Binomo platform. A tool that does not generate trading signals, but informs the trader in which direction the price will go according to the available indicators. There is a box in the top right corner of the screen that lists several configurations of moving averages. If most of them suggest that the price will go down, you should open the position to fall. However, if the vast majority of them suggest that the price will increase, then you should open the position for an increase. If the indicators are unclear then you should avoid opening a position.
I have tested this feature and am quite happy with the results. On the 20th position, 14 were profitable. However, if I were you, I would not be overly optimistic because brokers earn from customer losses. Therefore, it is completely not profitable for Binomo to offer effective signals. As a result, the broker loses money. I believe that this tool will not bring any benefit in the long run. If you have a different opinion, I encourage you to test this function after opening your account. Let me know in the comment what results you managed to get!
Deposit and withdrawals at Binomo
If the broker has convinced you enough to make a deposit, it is high time to take a look at the deposit and withdrawal methods offered by Binomo. To make a deposit, click on the “Deposit” button in the upper right corner of the screen and select the payment method you are interested in. Depending on the country you live in, these methods will differ from each other. Below is a list that is available in my country:
- Maestro / Mastercard
- Perfect Money
- WebMoney WMZ
- Tether USD ERC20 token
- USD Coin ERC20 Token
- Tether USD TRC20 Token
Commssions & Fees
Binomo does not charge any commission on both deposits, withdrawals and trading. Commissions, on the other hand, can be charged by intermediaries. If you plan to deposit small amounts, it is best to use a credit card. However, if you plan to deposit larger amounts, I recommend using cryptocurrency wallets, which are the cheapest solution. Unfortunately, using online wallets is quite expensive and I advise you to use them only as a last resort.
As I mentioned in the announcements – Binomo offers a lot of different types of bonuses that you can get by buying them in the appropriate tab or by making deposits of the right size. You can also use promotional codes that you will find on the internet. At the time of writing this review, Binomo has as many as 5 types of bonuses that you can receive. Below is a brief description of each of them:
- Welcome bonus. Available within the first 30 minutes after creating an account. Increases any investment by 25%.
- Deposit bonus. Available when making a deposit. The value of the bonus depends on the amount of deposit.
- Coupon or promo code. You can get them in a promotion, from a newsletter, or from a personal manager. You can also combine coupons and promo codes with a deposit bonus.
- Non-deposit bonus. A fixed amount of bonus funds that can be instantly credited to a real account without making a deposit.
- Risk-free trades. A fixed number of trades with a predefined investment amount. Risk-free trades are usually provided to the VIP status traders by their personal manager.
Note that Binomo does not allow you to cancel the bonus at any time. Some time ago I told you about the Pocket Option broker, which allows you to simply cancel the bonus with one button and withdraw the money earned. In the case of Binomo it is difficult because you can only cancel the bonus in two cases:
• Your account balance will drop below $ 1. In this case you are no longer able to make any transactions and your bonus will be automatically canceled. The next time you make a deposit, you don’t need to take the bonus anymore.
• When making your deposit, you used the bonus but did not open any positions in your real account. In this case, you must contact support and request that the bonus be canceled.
I believe that this approach is not fair. Remember to read the terms and conditions carefully before you decide to use the bonus. The prerequisite for withdrawing money after using the bonus is to make the appropriate spin. In this case, I have to praise the broker because the trading volume is usually from x30 to x50. These are very good conditions. For example, most other brokers trade x100. If you do not understand what it is about, here is an example of how it is calculated:
Example: A trader deposits $ 50 and uses a bonus to get + 20% on the deposit. They will receive $ 10 in bonus funds and a total of $ 60. In this case, since the bonus doesn’t exceed 50% of the deposit amount, the leverage factor will be 35. The amount of trading turnover to complete will be: $ 10 * 35 = $ 350.
After reaching the minimum turnover, you can withdraw money with the obtained deposit without any problems. With such conditions, I think it is worth a try. Although it must be remembered that the bonus is not for everyone. If you are just learning and you need more cash to invest and you do not necessarily want to withdraw your funds quickly, you should be tempted by the bonus.
The platform also offers the option of receiving a bonus without making a deposit. This is a great way to earn money without taking any risk. You have two options to get this type of bonus:
• From a personal manager (for VIP status traders).
• Through a promotion, for example, in a newsletter.
Registration and verification
The registration process is very simple. You have to repeat exactly the same steps as for opening a free demo account. Click on one of the green buttons in this review and you will be taken directly to the registration form where you must enter your email address, password and choose the default currency for your trading account. You can make a deposit immediately after registration, but I suggest you start by verifying your account.
Verification is necessary with every broker because it protects against money laundering. The idea is that someone who profits from illegal sources cannot legalize their income as a profit on binary options. Therefore, verification is required and consists of two stages.
First you need to fill in your data in the “Profiles” tab, and then prove that the data is correct. You need to send a photo of one of the following documents:
- ID Card
- Driving License
Then you need to confirm your home address. To do this, send one of the following documents:
- Bank Statement
- Utility Bill
- Confirmation of Bank Payment
Free Demo account at Binomo Broker.
Nowadays, every broker has an extensive demo account. After all, how else to convince an increasingly demanding client to a transaction platform? A good demo account is the basis and that’s what the Binomo broker offers. On the demo account you will find virtual $ 1000 that you can top up at any time. Use the demo account to test the platform and find out exactly how the opening process is and what the delays are. To open a demo account, go to the Binomo.com website, then press the “sign in” button on the right side of the screen and select the “registration” section. Enter your email address and password and select the currency you want to use. If you use one of the available currencies on a daily basis, choose it.
Thanks to this, you will avoid currency conversion fees, which can be from 2% to even 6%. If you want, you can quickly open an account using Google or Facebook. However, I do not recommend using the demo to test your capital management strategies and methods. I have learned from experience that brokers cannot be trusted completely. History knows cases where brokers deliberately manipulated the price on a demo account in order to impress a beginner trader that he is doing great and trading is very easy.
Through such manipulation, customers made larger deposits and then quickly lost them after depositing money into a live account. The truth is, trading is a very difficult job and takes weeks to learn. I suggest you make a real money deposit and test the strategy on small amounts. Thanks to this, you can be sure that the broker will not cheat you, and you will train in the real market. Let me remind you that the minimum deposit with the Binomo broker is $ 10 and the minimum investment is $ 1. So you don’t have to risk much.
A very big advantage of this broker is the regulation of the International Finance Commission. At this point, no other binary options broker has any regulation. This is, of course, due to the fact that regulations are not needed in the countries that such brokers reach. However, it does not change the fact that it increases the safety of clients, and you can report all disputes and problems directly to the International Finance Commission.
Below is a list of the world’s most recognized regulators. Unfortunately, neither of them deals with binary options anymore. A few years ago in Europe, binary options were regulated by CySEC, but unfortunately they were banned, and the only way to legally invest is to register with a broker that does not have any license, and its seat is outside the European Union. If binary options are not available in your country, check this broker. It offers its services all over the world and does it legally. Unfortunately, it does not have any license (it is not required).
- ASIC – Australian Securities and Investments Commission
- BaFIN – The Bundesanstalt für Finanzdienstleistungsaufsicht (Germany)
- CFTC – Commodities and Futures Trading Commission (United States)
- CySec – Cyprus Securities and Exchange Commission
- FCA – Financial Conduct Authority (United Kingdom)
- FFMS – Federal Financial Markets Service
- FINMA – Swiss Financial Market Supervisory Authority
- FMA – Financial Market Authority (Austria)
- FSA – Financial Services Agency
- FSB – Financial Services Board (South Africa)
- Financial Services Commission – BVI
- Financial Services Commission (FSC) – Mauritius
- IFSC – International Financial Services Commission
- FSP NZ – New Zealand Financial Service Provider
- ISA – Israel Securities Authority
- MFSA – Malta Financial Services Authority
- SEBI – Securities and Exchange Board of India
- VFSC – Vanuatu Financial Services Commission
- UAE – Abu Dhabi Central Bank
Summary on Binomo
Binomo is a great broker. It is definitely one of the best platforms in the industry. Unfortunately, it is not available to everyone and if Binomo does not offer its services in your country, you have to choose an unregulated alternative. Lack of regulation is not always bad, but it does put the customer at greater risk. If Binomo is available in your country, open a free demo account using the button below and check for yourself. In my opinion you will not regret it.
What do Binomo Traders think?
Our team checked the internet for opinions from the most reliable sources. Unfortunately, many opinions were false and it was visible in the opinions of their authors. This applies to both positive and negative opinions. These negative reviews very often referred to features that are not available on the platform.
For example, the author of the comment said that the investment advisor advised him badly and that the author lost a lot of money. The problem is that Binomo does not contact customers in this way, so such a comment is a simple scam. Below are some of the most interesting opinions we have found.
The Binomo trading platform is considered the best ever in recent times, especially after the emergence of many platforms that do not fulfill the purpose, whether in terms of design or the services provided, but the Binomo platform is the best and it is the number one according to my experience with it and the experience of all my friends who have tried it based on my request until right Now. It is really worth the experience and trust, especially for the competitions, tournaments and tempting gifts that it offers. As for support, they have the fastest support on earth, where your questions are answered in the same minute, and the VIPs have a personal manager who contacts you personally by phone to help you and give gifts It is faster in terms of processing payment in just about 3 minutes.
I advise you to leave all platforms and register with Binomo (Binomo is the family)Aimad BAHAH
I just started a few days ago, and one thing I can say is that there is a great learning process. In the beginning, I didn’t know how to trade or when to buy and sell shares. But my advice is to start off very slowly and, after a couple weeks, start putting more in as you become more comfortable. The Binomo app has worked exactly as it should with no glitches.Zilardo Leal
I love this platform! This platform definitely caters to people with limited experience in trading like me, as well as more advanced traders. The app is very user-friendly; it’s easy to understand and maneuver. Everything is accessible, such as your position, your profits, and your loss. If you need to find additional information on options or day trading, the information is right there at your finger tips and is straightforward. It is very easy for the reader to comprehend!Stan Ash
Nice app. I honestly thought it would be a sketchy scam, but it’s actually a wonderful app and it’s helping me learn more and more about stocks. Honestly I feel addicted to checking my phone to see my stocks go up or down.Natal Colaco
The vast majority of opinions are very positive. Many people praise the mobile application, which makes as good an impression as the browser version. On Trustpilot, Binomo has an average rating of 4.5, which places this broker in one of the highest places.
Our team has checked exactly from which regions of the world Binomo has the most traffic on its website. Thanks to this, we can estimate in which country the broker is most popular. Of course, in the table below we do not include the regions where the broker does not provide its services. The complete list of excluded countries is at the end of this section. The ranking below allows you to determine in which regions Binomo has the best offer. The more customers from a specific country, the better the optimization of the offer to the market. If your country is on the list below, the broker probably has above-average conditions in your area. The popularity of the broker in a given country results in more deposit and withdrawal methods available, better returns on investment and support in your native language.
The list above was prepared on the basis of internet traffic information on the Binomo.com website. If your country is not on the list, it does not mean that the broker does not provide services in your country. This list only informs in which countries the services of this broker are the most popular. If you are interested in the offer of this broker, but you are not convinced whether Binomo provides services in your country, the easiest method to check availability is to try to open a free demo account. Use the green button below to open a demo account. In case of unavailability of services in your country, you will notice an appropriate message.
Check out our Binomo Video Review
One of the best brokers in the industry. If you're looking for regulated broker & modern, fast platfom you sholud choose Binomo over other options.
- International Financial Commission Regulation
- Responsive Platform
- Wide range of bonuses
- A lot of drawing tools
- Lots of deposit and withdrawal methods
- You can't cancel bonus anytime
Execution of orders
Customer Support work
Variety of instruments