Home Binary Options Brokers Binomo Review

Binomo Review

40
0
Regal Wallet Banner

Binomo is a binary options broker founded in 2014 based in St. Vincent. The Dolphin Corp. manages the trading platform, which has over 850,000 daily active traders from 133 different countries. Binomo is one of the largest binary options brokers. 

binomo-review
  • Regulation: IFC (International Financial Commission)
  • Minimum Deposit: $10
  • Minimum Trade: $1
  • Payouts: 90%
  • MaxMobile Trading: Yes
  • Weekend Trading: Yes
  • Assets: Stocks, Commodities, Indices, and Currency Pairs
  • Demo Account: Yes
  • US and UK Traders: Not Accepted

Binomo Trading Platform

Binomo’s trading platform is secured by SSL and features real-time price charts, a trading interface, and technical analysis tools. Users can set up hotkeys to navigate and open trades quicker. Binomo provides an economic calendar and the latest financial news in a separate tab. 

Binomo Trade Types

On Binomo traders can open High/Low trades and Turbo trades. With a high/low trade, you predict whether an asset will rise or fall within a certain timeframe. Turbo trades work the same, but with shorter timeframes. You can trade 24/7 on Binomo.

Binomo Regulation

Binomo is regulated by the International Financial Commission and is a Category A member of it. The IFC offers a compensation fund for its members. This means that if Binomo would go bankrupt, traders receive up to $20,000. Binomo also has an FMMC certificate and VerifyMyTrade audits them regularly. Binomo is in the application process for a CySEC license. 

Binomo Account Types

Binomo has three different account types available. Your account status depends on how much you deposit. Everyone starts with a Standard Account. When you deposit more than $500, you become Gold Status, and once you deposit over $1,000 you become VIP status. In the table below you can see the different account type features and benefits. 

Account TypeFreeStandardGoldVIP
Assets23415461
Withdrawals3 days24 hours4 hours
Deposit bonus up to100%150%200%
Payout85%90%90%
Cashback5%10%
TournamentsYesYesYesVIP
InsuranceYesYes
Happy HourYesYes
Personal ManagerYesYes
PrizesYesYes
Risk-free tradesYes

Binomo Demo Account

We recommend trying Binomo out with a demo account before you trade with real money. The demo account contains $1,000 in virtual funds and mirrors real market conditions. 

Binomo App

Users can download the Binomo app on both Android and iOS devices. The Binomo App has the same features as the desktop trading platform. 

binomo-app

Binomo Bonuses and Promotions

Every new trader receives a welcome bonus from Binomo. The height of this bonus depends on the account type. Binomo organizes weekly trading tournaments where traders can win prizes as high as $40,000.  

Binomo Deposits and Withdrawals

Traders can deposit funds into their Binomo trading account by credit card, Neteller, Jeton, or bank wire transfer. The minimum deposit is $10. Binomo charges a 10% withdrawal fee if you don’t meet their trading requirements. 

Is Binomo a scam?

No Binomo is not a scam. It is a regulated binary options broker. Your funds are protected for up to $20,000 by the International Financial Commission. 

Binomo Customer Support

Users can contact Binomo customer support 24/7 by live chat and email. 

Binomo Pros and Cons

ProsCons
24/7 customer supportLow amount of assets
24/7 tradingLimited trade types
$10 minimum depositNo USA or European traders accepted
$1 minimum trade sizeNo social trading
90% payoutsNo trading signals
Trading tournaments 

UAE Investors

Binomo accepts traders and investors from the United Arab Emirates. Note that you have to go through a KYC process to be able to withdraw funds from Binomo.

Binomo Review – Our Verdict

Binomo is a regulated broker that offers high payouts, an easy-to-use trading platform, bonuses, and promotions. We recommend trading binary options with them. 



Methodology
The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of the best online brokers. Trading platform, fees, mobile trading, payments, assets, regulation, education, and research are all part of our six-month evaluation of a broker’s trading platform. The rating scale was based on thousands of data points that have been weighted into the scoring system. Brokerages were required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online brokers we reviewed. Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.

Disclaimer
All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

Previous articleIQCent Review
Next articleCapital.com Review
Stefan Grasic (Dipl.-Jur) is the World Wide Director of research for Buisness24-7 and has considerable experience in the financial and investment niche, but also enjoys writing articles for the general readership. Stefan is an active Crypto, Forex and general investment researcher advising blockchain companies at their start up level. He keeps fit by mountain biking, surfing, skiing and lots of other adrenaline sports.

LEAVE A REPLY

Please enter your comment!
Please enter your name here