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 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 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.
Binomo Account Types
|Withdrawals||3 days||24 hours||4 hours|
|Deposit bonus up to||100%||150%||200%|
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.
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 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
- 24/7 customer support
- 24/7 trading
- $10 minimum deposit
- $1 minimum trade size
- 90% payouts
- Trading tournaments
- Low amount of assets
- Limited trade types
- No USA or European traders accepted
- No social trading
- No trading signals
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.