Binomo is an online broker, with a relatively long track record, owned by Tiburon Corporation Limited and registered in Seychelles. The company started operating in 2014 and developed their its unique trading platform. Binomo is a member of the Financial Commission. What this means exactly is still a bit vague because these are not high-profile financial regulators.
Editor’s Note: Why Binomo Sucks in 50 Words
What I dislike the most is point 2.14 in their terms and conditions:
“2.14. If the Client has deposited money into their account but later decides to completely or partially withdraw funds, and their trade turnover (the sum of all transactions since the last deposit) has not exceeded double the size of the deposit, the withdrawal fee will be 10%.”. Furthermore, their live chat was not working and they are not CySEC regulated. Sure they say it’s “pending” but there are brokers who have had pending regulation for years and are still the same old sucky broker.
Why Doesn’t Binomo Suck in 50 Words
I like their customized platform that offers you to trade with one keystroke (if you enable it). The charts themselves can be equipped with the most popular indicators like MACD, Bollinger Bands, MA, and RSI. In addition, you can select among many technical trading tools like trendlines, triangles, Fibonacci, pitchforks and many more to choose for analysis.
Is Binomo a Scam?
The first question is, how reliable is a Financial Commission membership? Is that something to compare to a CySEC or FCA Regulation? On the bright side, according to their website, they show “pending CySEC and CPO regulation”. But on the other hand, that “pending” regulation has been on their site for quite a long while without any new developments, so…
In the bottom line, this broker is probably not a scam but I would wait for a CySEC regulation before making a serious investment here. If you still wish to try them out, they offer 10$ deposits which are a small risk to take.Notice: It is extremely advisable to trade only with a regulated broker. We found 2 highly rated and regulated brokers. Start trading with a Regulated Broker Now.
Should I Open an Account with Binomo?
The platform itself seems great and I love the fact that you get to open a demo account with just an email address! You can, at any time, replenish the money in the demo account or switch to your live account. One unique feature I have never seen anywhere else is the ability to use “Hotkeys” for trading. If you enable this feature, you may increase or decrease your investment amount, change your expiry and execute trades without using your mouse. You just need to memorize which keys do what. So before you switch to Hotkey-mode, make sure you know which keys do what to avoid any accidents.
The chart on the platform comes in several time frames, 5s, 15s, the 30s, 1 minute and 5-minute candlesticks and you can zoom in and out using the middle mouse button. As mentioned earlier, you have a vast selection of technical tools and the most popular indicators to apply to your chart.
Regarding option types, you can only trade turbo (60 seconds) and high and low options.
Expiry times for the high and low are 15 minutes, 30 minutes and 60 minutes. However, you also get to choose up to 6 minutes ahead of the current time with 1-minute increments. For example, if the time is 15:24, you can pick 15:25, 15:26, 15:27, 15:29 and 15:30 expiry which I think is pretty cool.
Should you open an account with Binomo? Overall, I feel like this broker is making a decent attempt in order to stand out. The last piece of the puzzle to make this a more reliable broker will be a CySEC regulation. To open a live account, you only need a deposit of 10$ and the minimum investment size is only 1 dollar which gives you room for 10 trades to try out the broker live – after you feel satisfied with their demo account. They also claim that your withdrawals will be processed within 3 days for a standard 10$ account and 4 hours up to 24 hours for VIP (requires deposits above $1,000). On the downside is the 10% fee in case you change your mind and wish to withdraw all your funds before you made trades that exceed twice the size of your deposit. For a 1000 deposit, what would be equal to 100$ fee which is way too much if you ask me.
The company address is Stagord Resources Ltd Vasileos Pavlou, 60 Agios Dometios, 2360, Nicosia, Cyprus and Tiburon Corporation Limited Suite 1, Second Floor, Sound & Vision House, Francis Rachel Str., Victoria, Mahe, Seychelles.
Stagord Resources Ltd is the payment processor and operator for Tiburon Corporation Limited. They are located at Evagorou, 27, Irene Building, 4th Floor, Flat/Office 44, Trypiotis, Nicosia, 1066, Cyprus and are operating under the legislation of the Republic of Cyprus, registration number HE 338508.
The broker seems to mainly target clients in Asia and primarily Russian citizens. The broker seems to mainly target clients in Asia and primarily Russian citizens, which makes sense because the FMRCC thing is Russian based. This makes it hard for us to find complaints written in English but I managed to find one on YouTube (also in Russian). What I could make out of it was a withdrawal issue that seemed to be connected with bonuses. In this case, I could not fully make out who was really at fault. Some commentators had mentioned it was the trader’s fault while others mentioned they didn’t feel like investing with Binomo after seeing the video. In the end, I think it was the typical complaint about not being able to withdraw and not having read the terms and conditions. If you understand Russian, here is the video about Binomo.Yay! Searching for a regulated broker? We found 1 higher rated broker for you. Start Trading with IQOption.
Binomo Regulatory Warnings And Announcements
18/12/2017: The Comision Nacional del Mercado de Valores (CNMV) (Spain’s financial regulator) has warned that Tiburon Corporation Limited (binomo.com) is not authorised to provide investment services. See full warning here.
Their bonus offers changes from time to time but as a general rule, it seems to be ranging from 25% up to 100% (VIP account holders can get a 100% bonus). You need a turnover of at least 35 up to 40x times your deposit depending on the size of your bonus. If the bonus is below 50%, the turnover is 35 and all bonuses above 50% will have a turnover of 40 times. Until the turnover is reached, the client will be unable to withdraw any money from the account.
Withdrawals are not charged for according to their website FAQ. However, the terms and conditions clearly state that should you wish to withdraw your funds before trading amounts up to at least twice the size of your deposit you will be charged a 10% fee. How much time the withdrawal takes depends on your account. Expect anywhere between 4 hours up to at least 3 days. Just make sure you have verified your account first by sending the required identification documents.
User Friendly 17/20
The website comes in 17 languages including English, Russian, Polish, Spanish, Portuguese, Indonesian, Bahasa Melayu, Chinese, Vietnamese and Thai. There are free guides and strategies that are pretty good for beginners. The platform is explained under the “video section” but there are no other videos there. Demo accounts are available and so are mobile platforms.
Number of assets and expiry times 16/20
There are only two option types: 60 seconds and high and low. The expiry times for the high and low are 15 minutes, 30 minutes and 60 minutes. However, you also get to choose up to 6 minutes ahead of the current time with 1-minute increments. For example, if the time is 15:24, you can pick: 15:25, 15:26, 15:27, 15:29 and 15:30 expiry. The number of assets depends on the account type. VIP account holders get to trade the entire asset list while standard account holders only get to trade a handful of assets. There is no asset list on the site but according to other unverified sources, there are around 70-80 assets in total.
Commissions, Support and Effective return 17/20
There are no fees in general but if you have not exceeded trading volumes above twice of your deposit size, you are due to pay a 10% fee for the withdrawal. The live chat was not working so a thumbs down for the live support. Regarding payouts, the maximum percentage seems to be 87% which is very good. Gold clients can get up to 5% weekly cashback and the percentage increases to 10% for VIP clients.
Deposit, Payment and Bonus 16/20
Minimum deposit is just $10. The available deposit methods are as follows: VISA, MasterCard, Yandex.Money, QIWI, WebMoney, Neteller systems and Mobile Commerce. Withdrawals may take anywhere from 4 hours up to 3 business days to process, depending on the account type. There are various bonus offers and the required turnover is between 35 up to 40 times your deposit or depends on the bonus offer itself.
Website Extras 15/20
The biggest extra here is the “Hotkeys” feature which enables keyboard trading. You can choose the direction, increase or decrease your expiry and investment size with the already programmed keys. There are also tournaments and offers to the left of the platform. Traders can simply click them to read more about them.
Binomo Overall Ratings (79) + Regulation (Financiel Commission +1) = 80/100
Is Binomo a scam or a reliable Broker for Binary Options? – Read more about it in this review of 2019. Nowadays it is hard to find a good broker because diversity is quite large and there are some scams outside. In this review, I will show you the facts and conditions of Binomo for traders. Is it worth to invest real money or not? – Find it out in this article.
The official homepage of BinomoREGULATION100%CUSTOMER SERVICE100%ASSET PROFIT87%
WHAT IS BINOMO? | THE BROKER PRESENTED
Binomo is an international broker for Binary Options. The company was founded in 2014 and is based in Seychelles. The website is running by Tiburoan Corporation Limited and they got branches in different countries around the world. At the moment the most active countries are India, Indonesia, China, Brazil and Asia. The broker is regulated by the IFC (International Financial Commission) and certified by the CROFR. This information about the broker makes a first good impression on me.
The broker provides you the opportunity to bet on rising or falling markets with Binary Options to get a high profit in a short time horizon. They offer a diversity of more than 200 assets to invest. The customer base is rising continuously since the start of the company. In addition, the Binomo always tries to improve their service and offers for traders.
- Broker since 2014
- Based in Seychelles with different branches
- Start with a small deposit
- High asset profit
- No hidden fees
Open your free Binomo account in less than 30 seconds
Is Binomo regulated ? – Regulation and safety of the broker
Many traders are asking: Is Binomo safe? – The truth is that the company is regulated by the IFC (International Financial Commission) since May 2018. In addition, the broker is certified by the CROFR. That makes Binomo one of the safest in the CIS. The regulation is very important for international traders. If there is a fraud, the broker would lose the license quickly.
The IFC is an independent and neutral commission for the financial markets. The broker is a member of category “A”. This is the highest level you can achieve by this regulation. In other words, there are different benefits for traders now:
Official regulation of the company
- Protection: Clients funds are protected up to 20.000€. This is a compensation fund which covers the amount. For the unlikely event, the fund would cover you if the broker goes bankrupt.
- Court: Traders get access to neutral and international tribunal and judgment. If you got any problems with the broker, you can complain to the IFC.
- Fast Support: The IFC provides you with fast service and support. There are working employees all around the world.
Review of the conditions and offers for Binomo traders
Binomo offers to invest in rising or falling markets with Binary Options. It is like betting on a certain time horizon (read more below). There are more than 100 different assets to trade. You can trade Forex, Stock, Commodities, and Cryptocurrencies on the platform. Another point to mention is that the broker works 24/7. You can trade on the weekend with a high return on investment.
The asset profit is high to 87% for Binary Options. You can trade short-term or longterm trader. There is a big diversity of expiry times. If you add more than 1000$ to the account, you will get a VIP-status with a higher asset return. Besides, there are no hidden fees for you! They do not charge you any commission of deposit or withdrawal funds.
Beginners or advanced traders can start with the minimum deposit of 10$. This is a very small amount of money and clearly an advantage of Binomo. Also, the minimum investment amount for a trade is 1$. You can trade any asset with only 1$ and without fees. In conclusion, the conditions are one of the best in the world compared to other Binary Options Brokers.
|TYPE:||ASSETS:||ASSET PROFIT:||MINIMUM DEPOSIT:||MINIMUM TRADE:|
|Binary Options, Digital Options||100+ Forex, Commodities, Stocks, Crypto||87%+||10$||1$|
Open your free Binomo account in less than 30 seconds
TEST OF THE BINOMO TRADING PLATFORM
Is the trading platform of Binomo good as it looks? In this section, I will show you transparent the platform and the functions for traders. Binomo offers a web-platform and a mobile app. On the platform, you get direct access to more than 100 assets. The platform works 24/7 and you can trade on the weekend Cryptocurrencies. Binomo provides video tutorials and guides for beginners to learn more about the platform. In addition, you can ask support for help.
The platform is unique and programmed by the broker. The platform looks clear and well structured for the first impression. It is possible to customize it and do an extensive analysis of the chart. Use different chart types, indicators or other tools for technical analysis of the asset. After that, you can make your forecast and earn a high amount of money.
Furthermore, the trade execution of Binomo is one of the fastest. There are no lags or connection problems. The platform works smoothly and is very flexible too. You can customize the chart as you want.
On the right side, you see the trading dashboard for the execution of traders. It is clearly structured and you can use hotkeys for trading. This is a unique advantage of Binomo. On the left side, you get access to different options of the broker. Look at your trading history, learn new strategies, use the news calendar and more.
On the upper side, you can choose any asset for trading. It is possible to use multi charts and open more than 1 chart. So you can switch easy and simple between different assets to carry out different strategies. In conclusion, the trading platform is easy to use for beginners and advanced traders. There are a lot of functions for trading success.
Facts about the platform:
- More than 20 indicators
- More than 100 assets
- Mobile Trading
- Very fast trade execution
Professional charting and analysis is possible
For successful trading charting and analysis is very important. In the next section, I will show you the functions of the trading platform. With Binomo you can use more than 4 different chart types which a necessary for professional strategies. The best-known chart type is candlesticks. With special patterns, you can predict the turnaround of the market.
- Mountain chart
- Line chart
Use more than 5 different timeframes for the analysis. This is a little disadvantage because other brokers provide more than 5 different timeframes for the chart. It is important to choose the right timeframe for the setup of a Binary Options trade. The financial product depends on a certain expiry time.
- 5 seconds
- 15 seconds
- 30 seconds
- 1 minute
- 5 minutes
For technical analysis, you can use technical drawing tools or indicators. There is a huge range of different drawing tools which makes the broker unique. Use horizontal lines, Fibonacci, trendlines and more.
Also, more than 20 different indicators are available on the platform. Choose an indicator and customize it by yourself. You can choose different settings for the periods of the indicators and more. In addition, there is a description and tutorial for the indicator. In the section “strategies” you can read about the collaboration between different indicators. They are powerful tools to make a high profit with Binary Options.
In conclusion, the trading platform is user-friendly and flexible. Beginners should feel comfortable within a few minutes. The biggest advantage is the clear structure of the platform. I like the design. Furthermore, you can customize it very fast in a few seconds. Try it with the demo account.
Binomo Trading Tutorial – How does an investment work?
Binary Options is a simple financial product. In this simple and short tutorial, I will shoud you how to trade successful. You can bet on rising or falling markets at a certain time horizon. Choose the expiry time of the trade and go short or long. After the expiry time, the trade automatically closes and you get a high payout or you lose your invested amount.
Predict the price direction of an asset and trade in the direction you want. No matter how much the asset is moving in your direction the price only has to be upper or under your entry point to get a fixed profit. The profit depends on the traded asset.
The risk is limited to the investment amount. You can only lose your investment amount and win a fixed profit. This is an important point because there are not a lot of financial products where the risk is limited.
Make your forecast
Example: GBP/USD – 85%:
You invest the amount of 100$ and make the forecast for the market. If you are right after the expiry time, you win a high amount of 185$. 100$ is the return of your investment and 85% is the profit. Binary Options are available on a different time horizon. It is possible to get a high profit in a short time horizon like 30 seconds.
Step by step trading tutorial:
- Choose any asset and analyze it
- Make a forecast of the price movement in the future
- Choose an expiry time
- Invest any amount starting 1$
- Click Call (long) or Put (short) to open your trade
- Earn a high amount of money if you make the right forecast
Losses and emotions are the biggest enemies of a successful trader. Therefore it is important to use sensible money management. If you lose a huge amount of money, you will trade irrational and lose more money in the future. Sensible money management should be not more than 1% per trade of the account balance. The advantage is that you can cope with a losing strike without getting emotions.
Binary Options are risky too. You should not invest money which you can not afford to lose. Profits are not guaranteed but there is a chance to earn a lot of money with the right knowledge.Open your free Binomo account in less than 30 seconds
Mobile Trading (App) for any device
Also, Binomo offers mobile trading for every client. The app is available for smartphones and tablets. You can use any devices whether it is Apple (iOS) or Android.
Nowadays mobile trading is very important. React directly to market news or proof your portfolio on road. It is possible to earn money with your smartphone. The app works smooth and structured like the web version. The execution of trades is very fast and you can use the same functions as in the web version. The offer of mobile trading completes the portfolio of Binomo.
How to open your free demo account with Binomo
The demo account allows you to trade with virtual money. There are some different advantages of it which I will show you in this section. Especially beginners should practice with the demo account before they invest real money. In addition, advanced traders can use this account too to improve their strategies or learn to trade new assets. You trade without risk. The demo account is the best option for getting more knowledge about the trading platform and the financial product.
Binomo offers you a free demo account with a 1000$ deposit of virtual money. It is completely free and you can use this account as long as you want. It is unlimited. If you lose money, you can recapitalize this account with one click. On the other hand, you can change between the demo account in few seconds! Every good broker provides a free demo account. So Binomo is one of the best brokers.
Open your free demo account
Open your real account
The demo account is linked to the real account. Switch between these accounts with one click. For trading with real money, you have to fulfill the account form. The broker needs additional documents and personal information. For withdrawal profit, the account has to be verified. The verifications take some time of fewer than 24 hours. Just upload a photo of your passport and get the verification. After that, you can use all the functions of the real account of Binomo.
In conclusion, the account opening with Binomo is very easy. The sign up lasts only a few seconds. Use the account currency dollar or euro to open the account. There are no hidden fees for you and it is completely free.Visit the Binomo HomepageOpen your free account in 30 seconds
Honest Binomo deposit and withdrawal review
The minimum deposit is only 10$ and the minimum withdrawal is only 10$. You can capitalize your account with different payment methods. Binomo offers Creditcards, E-Wallets or Cryptocurrencies for your deposit. Also, the withdrawal works with these payment methods.
The withdrawal process works fast as the deposit. If you make a profit, you can withdrawal it directly on the platform. Surprisingly there are no commissions for your transaction. This is a big advantage of Binomo. In addition, it is secure and the withdrawal system works fast. They pay out in less than 24 hours.
The Binary Options Broker offers you a bonus (read more below) too. It is possible to get a 100% bonus of your first deposit. Furthermore, there are different account types (read more below). In conclusion, I proofed the payment system and there was no scam for my deposit and withdrawal. It works very fast and reliable.
- Credit Cards (Master/Visa)
- Qiwi Wallet
- Cryptocurrencies (Bitcoin, Litecoin)
- Perfect Money
Bonus and conditions for traders
Binomo offers different types of bonuses for traders. The bonus for the first deposit is very popular because you can trade with more risk or money. Always before you activate a bonus you should read through the bonus requirements.
Example: You do a deposit of 5000$ in your account trade with the money management of 1% each trade. The investment amount is 50$. If you take a bonus of 100%, your account balance is 10.000$. Now you trade with the investment amount of 100$ each trade if you use the money management 1% of your account balance. The bonus allows you to grow your account more quickly.Note:
THE BONUS IS A GOOD WAY TO INCREASE YOUR ACCOUNT BALANCE FOR FREE, BUT BE AWARE OF THE CONDITIONS.
The broker offers different types of bonuses and there are different requirements. The bonus can be deactivated only if you do not trade after the activation. The bonus cannot be deactivated after you start trading with it. The amount of the bonus depends on the promotion and the amount of deposit. For bonuses of the amount of 50% or more the turnover is x40. The turnover for bonuses less 50% is x35. Sometimes they offer a no-deposit bonus. Also, there are time limits for the activation. In conclusion, a bonus is one of the best tools to grow your account but you should read through the bonus conditions before you activate it.
Different account types are available
Binomo offers 4 different types of accounts. The status depends on the deposit amount. This is another good feature to improve the experience from the clients of Binomo. With a higher account type, you can get special features and more profit. In this section, I will show you the different types of account. See the advantages of a higher deposit.
Everyone who deposit the amount of 10$ get the standard account. You can use the full functions of the trading platform.
- Fixed profit to 85%
- Minimum investment amount is 1$
- Participation in tournaments and contests
- No limits
- Withdraw in less than 3 days
- Technical support
In the gold account there are more special events and privileges, which could increase the profit of a trader.
- More assets are available (100+)
- Fixed profit to 86%
- Get a higher bonus
- Personal account manager
- Education from professional traders
- New strategies
- Weekly cashback 5%
The VIP account offers you the best trading conditions.
- Bonus up to 100%
- Higher asset profit up to 87%
- Withdraw in less than hours
- More available assets
- VIP support and education
- Weekly cashback 10%
Open your free Binomo account in less than 30 seconds
Review of the tournaments for traders
Also, Binomo offers contests for traders. It is a good way to earn a huge amount of money with a small investment. There are different types of contests. Some tournaments are free to use and some tournaments have to be paid. The participation fee depends on the contest.
Often the goal of the tournament is to get a maximum balance at the end. You compete with other traders on the platform. If you lose money, the contest is no over. You can rebuy and start again.
The prize fund is quite large compared to other contests. The winner does not get the whole prize fund. The money divided up to the first 30th places but it can depend on the contest. There are a lot of different conditions and each contest is unique. In conclusion, I like tournaments because the return of investment can be huge. Surprisingly sometimes you can win an iPhone XS or other valuable prizes.
The market for Binary Options is growing continuously. Binomo is an international broker who tries to accept more and more countries. There are some forbidden countries: EU, USD, and Canada.
After all the market in Asian and Africa is growing very fast. Now they offer support in more than 20 different languages: English, Thai, India and more. The most traders are from:
Is Binomo legal?
I can recommend that Binomo is a legal company. Binary Options are allowed to trade in India, Australia and more. It is like betting on a rising or falling market with fixed risk.
Are Binomo Robots, bots, and automated trading allowed?
There is no possibility to use automatic systems with Binomo because they offer a unique trading platform. For example, expert advisors are not possible to use. In addition, the broker does not provide signals or social trading for its clients. Binomo prefers that the traders trade with their own knowledge.
Automatic trading on the platform is prohibited and can block your account.
Be careful with Robots, bots, or automated systems for Binomo. They are a big scam for your money. Binomo can delete your account without warning if the broker finds our that you use a bot. Moreover, 99% of all robots and bots are a scam from my experience. They do not work profitable, so you should not try these programs.
But Binomo offers a big education center where you can learn different strategies by yourself. This is a good way to improve your profit and another option.Note:
ROBOTS ARE NOT ALLOWED WITH BINOMO.
Review of the Binomo customer service and support
Binomo offers 24/7 support via phone, chat, email or skype. From my experience, the support works very fast and professional. There are specially educated employees who answer your questions. Furthermore, they offer an account manager for gold and vip clients. It is a personal manager. You can arrange a personal session to learning more about trading and new strategies.
All in all the support is reliable and very fast. I tested it in many ways and the live-chat is the fastest one. Just click on the symbol in your platform and you can directly ask questions. Finally, they offer a big FAQ and education center. There are video tutorials and guides for trading. More than 50 videos are available.
|Phone, Chat, Mail, Skype||24/7||Account managers||Suite 1, Second Floor, Sound & Vision House, Francis Rachel Str., Victoria, Mahe, Seychelles|
Conclusion of the Review: Is Binomo real or fake? – Good choice for an legit broker
Binomo is interesting for beginners and advanced traders. In this review, I showed you the conditions and offers for traders. After you read this review you should decide for yourself if you want to invest your money.
In my opinion, Binomo is a reliable broker for Binary Options. They offer everything a successful trader needs. Start trading with just 10$ in your account or try the demo account for practice the platform. Beginners should feel comfortable with the support and the education center. The service is diversified and professional.
The conditions are at its best with Binomo. Trade with a high asset profit and earn money in a few seconds. Binary Options are risky but with this broker, you are on a good way to earn money. Also, the broker is very safe because of the regulation and it can be used as recommending the company.
Should I create an account with Binomo?
Personally, I think it is a very good broker for financial investments. In this review, I showed you the advantages of the platform. There are no disadvantages and it does not look like a scam for me. Especially I tested the broker with real money and the platform works fine.
If you search for a professional Binary Options Broker, you should register with Binomo.
Advantages of Binomo:
Start with a small investment amount 1$
Flexible and user-friendly platform
Huge asset diversity
High profit of 87%+
Fast trade execution
Good service and support
Fast withdrawal system
Disadvantages of Binomo:
Little choice of timeframes on the trading platform
Established in 2014, Binomo is a binary options broker registered in Seychelles. 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. The minimum deposit amount and minimum trade amounts make them a low-risk choice for the new trader that doesn’t want to invest massive amounts.
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 that make this broker stand out in the crowd. They also offer comprehensive customer support and an excellent mobile trading experience for those who like to trade 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 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 for new and inexperienced traders.
In this review, you will learn:
- What makes them stand out from their competitors
- The different trade types, payouts and assets available
- Why we think this broker is a good choice for traders
GET YOUR BONUS TRY FREE DEMORisk Warning / Ad Disclosure
There are many account types available from Binomo, all of which require different deposit amounts and offer a range of benefits:
You can open a Standard account with just $10 and get all of the benefits of trading on the 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
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%.
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 platform.
Despite the 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.Supported LanguagesEnglish Spanish Indonesian Korean Malay Portuguese Romanian Russian Thai Turkish Vietnamese Chinese
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.
These are the classic types of binary options trades 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
Rewards 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.
Being able to trade on the move is make or break for a broker in this age of digital technology. Most brokers offer an app with others providing at least a mobile responsive tablet that recognised the device you are using. Binomo offers both an app which is available on the App Store, for iOS users and Google Play, for those using an Android device.
The beauty of using an 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 platform. So, 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 trading.
The international market has several leaders in online trading, including Binomo. Established in 2014, it is officially registered as a Cyprus offshore company. It has been certified by individual regulators operating in certain countries. The quality of service has been highly appreciated by the International Finance Commission. The platform was awarded the highest ranking, Category A, in 2018 after an audit. This candidate clearly deserves a more detailed analysis, which we are going to perform right now.Full review ›Trading conditionsTradable assets:Option profitability:Minimum deposit:Minimum trade amount:80up to 90%$10$1Demo account:Online registration:Call support:Chat with support:yesyes8-800-555-7185yesDeposits and Withdrawals
Start trading ›+ up to 50% welcome bonusReview of Binomo by MoneyTotem
Broker rating: 3.7 / 5
1. General information
The platform may be very popular, but beginners that are new to trading will inevitably come up with a number of questions. Choosing the right platform to trade on is pivotal in any beginner’s success. This article offers an unbiased overview of services offered, assesses their quality, and hands down a final verdict of whether you are advised to trade with Binomo or not.
- Company. It was established in 2014, is officially certified, holds Forex Festival awards, and enjoys immense popularity virtually anywhere in the world.
- Funding and financial matters. A demo account for all registered users. Minimum withdrawal and funding — $10. Three account levels. Withdrawals take 1 to 72 hours (depending on user status).
- Trading conditions. High/Low contracts with a return of up to 87%. By way of experiment — CFD trades with a floating profit. 45 assets to trade. Contract expiration of 1 to 60 minutes.
- Other. Tournaments with a prize fund of $75,000+. Personal support and training for premium users. Video tutorials, glossary of terms, FAQ. A unique asset for effective short-term trading.
This is a brief description in a bulleted list. All these headings will be detailed in respective sections of our overview.
2. Advantages and disadvantages
Minimum starting requirements: You can have a real account opened by funding $10 or more. This opens access to all the features of the platform, including participation in traders’ tournaments.
Unlimited and limit-free demo account: The practice mode is an attractive option not only for beginners but also for seasoned traders. The former will be able to learn to trade and the latter to test high-risk strategies.
Unlimited and limit-free demo account: The practice mode is an attractive option not only for beginners but also for seasoned traders. The former will be able to learn to trade and the latter to test high-risk strategies.
Trading terminal with multiple features: The platform enables you not only to trade fixed High/Low contracts but also to perform technical analysis. It offers hundreds of various market forecasting strategies.
Company’s withdrawal policy: Withdrawals are a matter that users have almost never complained about in their feedback about Binomo. Financial transactions are always carried out within respective time limits. The platform supports a wide range of payment systems available in the trader’s country of residence.
Traders’ tournaments: This is Binomo’s unique competitive advantage. The company’s rivals either do not bother themselves with contests or hold them occasionally as part of special offers. Binomo treats contests as a priority. The company holds a daily free tournament with a fund of $300–600 and paid tournaments with a fund of $1,500 to $75,000 and more.
Beginner-friendly: Focus on working with beginners is especially obvious in the first years of the platform’s operation. Now the company has expanded its target audience but is still widely recognised as one of the best platforms for beginner training.
24/7 trading: The selection of assets includes, to start with, cryptocurrencies, such as the unique cryptoindex (CRYPTO IDX), and, secondly, over-the-counter (OTC) currency pairs.
A relatively limited choice of assets: A formal weakness. Compared with forex dealers, Binomo offers a wide range. Some competitors, however, offer up to 100 assets or more instead of 45. But more than 95% active traders trade standard assets and do not find this a shortcoming.
No access for traders from the USA and a few EU countries: Clause 10.2 of the Client Agreement reads that the nationals of the listed countries may not sign up on the platform. Still, Binomo is an international company operating in dozens of countries worldwide, including Asia, South America, Oceania, CIS and other regions.
3. Trading terminal
In 2014, Binomo reached the market with a terminal by SpotOption. This is a popular universal platform used by many companies. However, it has very limited features. 9 months later, the company released its proprietary terminal. It started off the company’s history of success in the international market of online trading. Since 2015 the platform has been regularly updated to add new features and address existing bugs.
Binomo’s modern terminal is a fully functional trading platform that you can use to trade High/Low contracts and perform technical analysis on second and minute timeframes at a time.
Special features of the web terminal:
- up to 45 assets to trade, including round-the-clock;
- independent tabs with charts;
- 20 graphical tools for chart analysis;
- one-click trading without confirmation;
- keyboard controls;
- 14 technical analysis indicators;
- an integrated Economic Calendar;
timeframes of 5 seconds to 1 month;
- a scalable 4-mode chart;
- no-slippage and high-speed functioning.
A smartphone-friendly version is offered as a mobile application. We will look at it in more detail in a later section of this overview.
4. Cryptocurrency trading
Traders take special interest in cryptocurrencies because you can profit as they go either up or down. This is the key difference of trading on an exchange from direct investments in assets, where gains are only produced by positive economic tendencies. The main thing a trader needs to know is where the price is going on the chart (up or down). If the forecast is right, the profit of the size known in advance is credited in full to your account. It is an average of 75% to 85% of your investment.
With only three to choose from — Bitcoin, Litecoin, and CRYPTO IDX, cryptocurrency assets that Binomo has to offer are far from being numerous. It’s IDX that is worth special attention. One cryptoindex outperforms any other cryptocurrency in terms of potential. This asset is a unique product developed by Binomo for effective short-term round-the-clock trading.
CRYPTO IDX is the arithmetic mean of BTC, LTC, ETH, and ZCH prices. This is why its quotes are updated 4 times more often on the chart than regular assets. This affects the appearance of price indications. The price is structured adequately even on the one-second timeframe, with complete candlesticks that have a body and two shadows. Regular assets, on the contrary, cannot produce an adequate chart suitable for effective technical analysis on a 5- and 15-second timeframe.
5. Mobile trading
You can trade not only on personal computers but also on mobile devices like tablets and smartphones. The classical web-based version is relatively comfortable for use on a device with a large enough display. But this is inconvenient on regular smartphones. This is why you’re advised to use a special adapted version.
You can find Binomo’s authentic mobile apps on App Store and Google Play. The phone terminal’s features are comparable to those of the desktop version with a few differences. Many technical analysis indicators and tools are unavailable. But this won’t stop you from opening an important trade at the right time. This becomes especially important as you trade the news, for example, when you need to buy contracts at a specific time.
6. Account types and practice trading
Once signed up, every user gets a demo account. It enables them to start trading right away, but with virtual funds that they cannot withdraw. Binomo offers 4 account levels — 1 free and 3 funded accounts.
DEMO. Requires sign-up. 18 basic assets with a return of up to 85%. Standard features of all other platform tools for technical analysis.
STANDARD. Offered for accounts funded with $10 or more. This is a basic level from which you get access to all the features of the platform. You can joint tournaments, trade in the real market, and make withdrawals.
GOLD. Minimum deposit of $500. An optimal choice for beginners with a wider choice of assets (38). Withdrawals become faster (24 hours), a personal manager and exclusive trading strategies are made available.
VIP. This status is granted when you fund $1,000+. The user gets maximum privileges and a personalised service.
A detailed comparative table with differences is provided on the Cashier page of the trading platform’s official website. We’d like to note in conclusion that your deposits are added up after sign-up. This means that you don’t need to make one payment of $1,000 to get the VIP status — you can deposit it in installments with any time interval in between.
7. What’s the point of getting the VIP status?
The key advantage of the premium status on Binomo is a personalised service that includes a tailor-made training programme for beginners. This is a fast track to excellence for those who have difficulty learning individually. The VIP status has advantages for active traders with some experience.
8. Creating an account
An account on the Binomo trading platform takes 1 minute to create. The standard sign-up procedure requires an email and password. You can populate your personal data from a Google or Facebook profile by clicking the respective button. Please choose your currency with special care because you cannot change this decision even through Customer Support. The dollar is the foolproof choice regardless of your country of residence.
Please make sure you provide your true details. Otherwise, you may run into problems withdrawing large amounts. Financial laws require identification of all users with a turnover in excess of a certain amount. Identity verification is not a problem if your profile contains your actual full name. All details are subject to strict data protection rules and are transmitted to the server in an encrypted form.
9. Funding and withdrawals
VISA and MasterCard bank cards are the most popular ways of funding accounts. Other methods are also available, including international and local systems supported in a specific country. The list of supported systems depends on the country of residence indicated in your profile.
International payment systems are supported worldwide. An optimal choice for users is to fund with their bank card that will be automatically linked to the account for future withdrawals. Profits can only be withdrawn to the wallet that was used to fund the account. Please take this into account when choosing the funding option.
A bonus of 30% to 80% or even 100% (during special promotions) is added to your account depending on the amount of your own funds. The system recommends an account of $500 to beginners as an optimal choice. $750, including the bonus, will be credited to the account. This will enable you to trade by using 0.2% of your balance per trade, minimising your financial risks in terms of capital management.
10. Trader training
A beginner trader has no skills of independent market analysis and effective trading. His or her only goal is to master this skill. Favourable conditions for this need to be created on the trading platform. Binomo found a great solution to this problem.
Learning opportunities offered to users.
- Self-directed learning. Trading on a demo account in reliance on ready strategies offered on the trading platform itself (in Information or the terminal’s side panel) or other online sources.
- Mentored learning. Access to support by a personal mentor is granted to premium users (GOLD and VIP). The manager uses Skype to contact the trader and then devises a tailor-made training program.
Initially, beginners are advised to trade either on a demo account or join a custom training program from early on. They should follow the rules of the selected strategy of market analysis and money management.
11. Should I trade with Binomo?
Our verdict is yes, sure. The trading platform by Binomo is clearly worth a thorough look at, especially by beginning traders. Entering the market as a humble novice with a standard terminal, the company reached the level of the then online trading leaders in just a year.
Minimum starting requirements, fast withdrawals, an unlimited demo account, self-directed and custom mentored learning, high returns produced by assets, round-the-clock access to the platform and more. All these advantages take Binomo to the league of international leaders in High/Low contract trading.