This contrast overview helps users who have a hard time to select in between Binomo and FXCM to locate the most effective online broker for their trading and investment demands. It analyzes the highlights of the two brokers side by side to aid customers compare their service and make an informed decision.
To aid customers select the right broker between Binomo and FXCM to discover the best-suited platform, below is a list of broker’s pros and cons, adhered to by a comparison of their primary trading attributes, consisting of trading systems & devices, costs, mobile trading, down payment & withdrawal, possessions, policy, and customer assistance.
Binomo vs. FXCM: Summary
Binomo is a binary options broker founded in 2014. It is not regulated and, therefore, not considered a safe broker. Their platform allows users to trade binary options on 60+ assets, including stocks, indices, commodities, and cryptocurrencies.
Binomo pays out up to 90% profit margin on correct predictions. The broker charges an inactivity fee of $10 after 30 days of inactivity.
Binomo’s customer support is available in Arabic and English via email (email@example.com).
FXCM is a UK-based forex and CFD broker founded in 1999. They offer access to over 400 tradable instruments including 300 CFDs, 41 forex pairs and a handful of shares, indices, commodities, and cryptocurrencies. FXCM is regulated by four tier-one regulators including the FCA, the ASIC, the CySEC, and the FSCA.
FXCM offers a wide range of trading platforms including Trading Station (proprietary trading platform), MT4 and TradingView. Users also have access to various copy trading apps (NinjaTrader, ZuluTrade, and/or Capitalise AI), analysis reports by TradingCentral and 55 charting indicators.
FXCM charges a spread of 1.4pips (EUR/USD) without any commission on their standard account, which is above industry average. The broker doesn’t charge any deposit fees, but charges a $40 withdrawal fee and a $50 a year inactivity fee after 12 months of no login activity.
FXCM’s customer service is available 24/7 by email, phone, and live chat in English, Arabic, and several other languages.
- Low minimum deposit ($10)
- No hidden commissions or fees
- High payouts of up to 90%
- Multiple account types and bonuses
- Cashback bonus for VIP members
- Customer support in Arabic
- Minimal trading platform compared to other brokers
- Lengthy account verification procedure
- Lacks education and research tools
- Low minimum deposit ($50)
- Average forex spread and 0% commission
- Various algorithmic and copy trading tools (MT4, ZuluTrade, Trading View)
- Detailed Trade execution reports (execution quality and slippage)
- Feature rich mobile apps
- Low amount of trading instruments
- Relatively high trading and other fees
- Access to over 60+ binary options
- Beginner-friendly user interface
- Cryptocurrency trading options
- Low minimum deposit of $10
- $1 min. trade size
- Multiple payment options
- Over 400 CFDs across various markets
- Wide range of platforms (Trading Station, MT4, NinjaTrader, ZuluTrade)
- Multiple order types availability
- TradingView integration
- Support for advanced, algorithmic, and copy trading
- Regulated by 4 tier-one regulators
Binomo vs. FXCM Comparison
Trading Platform & Tools
|MetaTrader 4 (MT4)|
|MetaTrader 5 (MT5)|
|Mutual Fund Management|
|Inactivity Fee||$50 per year after 12 months|
|Cost Per Trade||0|
|Cost Per Month||0|
|Forex (EUR/USD)||0.2 pips|
|Stocks & ETF||0|
|CFD (Gold)||0.5 pips|
Deposit & Withdrawal
|Minimum deposit (in UAE)||$300|
|Islamic Account Transfer|
|ETF & Funds||0|
|CFD Indices & Funds||15|
|Tier 1 License|
|Tier 2 License|
|Tier 3 License|
Research & Education
|Daily News Updates|
|Market Indepth Analysis|
|Pers. Training & Room|
|Personal Account Manager|
Binomo vs. FXCM Comparison Conclusion
The results of our contrast of Binomo vs. FXCM are involved the table below.
|Binomo||Binary Options Trading|
|FXCM||Forex and CFDs; Algorithmic trading|
Selecting the ideal option between Binomo and FXCM can be hard. Both on-line brokers have resemblances however vary regarding trading tools, systems & apps, regulation, down payment & withdrawals, and research study and education and learning. Selecting the best broker depends on users’ trading & financial investment goals, individual preferences, and experience degree.