Binomo Review 2020 (binomo.com)

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Binomo Review 2020 (binomo.com)

Binomo is a binary options broker that claims to be client-oriented in creating new trading possibilities in the market. The broker provides a wide range of financial assets to trade. In addition, the trading platform boast of providing high-quality brokerage services and top-notch support services for the best trading experience for its clients.

Binomo Review

The broker is owned by Tiburon Corporate Limited which is a registered company in the Republic of Seychelles. This catches my attention, as it proves to be quite legit. The broker was founded in 2020 and is based in, Suite 1, Second Floor, Sound and Vision House, Francis Racher Stir, Victoria, Mahe, Seychelles. The company is available for any inquiries on email address [email protected] This article will highlight the outstanding features of Binomo broker and why it has proven to be one of the best binary options brokers.

Regulation

To start, Binomo has been a member of the International Financial Commission since May 2020. The International Financial Commission is an independent body that settles financial disputes. Being part of this body guarantees customers compensation of claims where there is need. The compensation is executed in a fast way. Other than that, the commission provides a neutral environment for the resolution of any claim.
As such, by being part of the International Financial Commission, the broker reassures its clients a transparent trading relationship. This goes to show that the broker is truly to be trustworthy.

Security

If you are wondering how safe your funds are with Binomo, here is the good news. The company has insured its client’s risks. Other than that, their website is secured by SSL-Security COMODO guaranteeing that all your personal information is safe. Last but not least the broker is certified by CROFR and therefore leaves no loophole for any security threats.

Here is a list of Binomo’s competitors:

Payments

Firstly, all credit card payments are accepted. That is Visa, MasterCard among others. This reassures the company’s payment security features.
Secondly, the minimum amount allowed per deal is $1 while the maximum is 1000. As such, new traders who want to invest at the least possible risk can easily invest in the broker. Other than that, there are no commissions charged when depositing or withdrawing and withdrawals are executed within 24 hours. On that account, Binomo shows that it is not only interested in generating revenue but also in their customers’ specific trading needs.

Demo Account

Binomo offers a demo account from which you can learn to trade. The broker offers up to $1000 virtual money that allows you to trade in your demo account. Therefore a new trader can study tools, assets and practice trading strategies. It is from this demo account that one builds the skills and confidence to trade in the real account. As such, with this company, you do not have to risk your funds by starting with a real account, unlike other brokers.

Types of accounts

The broker has 3 different types of trading account each with its distinctive feature to ensure that all different customer needs are covered. The 3 accounts are Standard, Gold and VIP account. All the three accounts are extensively discussed in their website to ensure customers are well informed before choosing the account to invest.

In addition, the VIP and Gold account provides for a personal manager who helps you manage your trading actions. As such you are able to maximize profits and minimize losses with the help of an expert.

Tournament

The tournament feature for Binomo is one of the feature that separates it from other brokers. After you have taken part in a tournament, any monetary funds awarded as a prize is credited to your real account. However, the money can only be withdrawn if the prize is activated in your personal account unless stated otherwise in the specific tournament policy.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Options Broker 2020!
    Good Choice for Beginners!
    Free Trading Education, Free Demo Account!
    Get a Sign-Up Bonus Now!

  • Binomo
    Binomo

    2nd in our ranking!

Promotion and Bonuses

Look out for the promotion offers by Binomo. Their promotion offers up to 100% bonus on deposit. However, the bonuses only last for a couple of hours and therefore, needs one to act fast. Similarly, the bonus is not valid for first-time deposits.

Mobile App Trading

The company has gone an extra mile in ensuring that you can trade anywhere using their mobile trading app. The Binomo mobile trading app is available on App Store and Goggle Play. The app is supported by iOS and Android Device.

Awards

The company boasts of its different wards in the industry as seen from the website. The awards are IAIR Awards 2020, a global prize for excellence in global finance and global economy and FE Awards of 2020. As such, these awards enhance the legitimacy of the broker proving that it can be trusted with your funds.

Final Verdict

Having highlighted all its features, Binomo has proved with no reasonable doubt to be a trustworthy trading platform. As such, if you have been toying with the idea of investing in binary options, Binomo is a good platform to invest

In conclusion, investing in binary options is not a guarantee of large gains and profits. Binary Options Trading involves risks, therefore, before investing, make sure you are aware of the specific risk associated with your choice of broker. I recommend you invest in a platform with minimal risks. On that account, I hope this article will help you make a good decision.

Binomo Review

​Binomo is a trading platform that allows you to trade binary options, cryptocurrency, forex, and CFDs. This broker has clients from 133 different countries and is one of the most popular brokers for traders from India, Brazil, Indonesia, Vietnam, Russia, and Turkey.

​Binomo was established in 2020 and is owned by a company called Dolphin Corp, located in the St. Vincent and the Grenadines. With over 887,470 daily active traders and over 30,000,000 successful trades per week, Binomo is one of the largest brokers.

But is Binomo right for you? Can they be trusted? In this Binomo review, I’ll tell you everything you need to know about this trading platform.

​St.Vincent and the Grenadines

​IF​C (International Financial Commission)

​High/Low and Turbo

​iOS and Android

​Number of Assets:

​Credit Cards, Cryptocurrency, WebMoney, Neteller, and More

​Minimum Trade Amount:

​Countries NOT Accepted:

Table of Contents

​Trading Platform

Binomo uses a proprietary trading platform for all of its traders. The platform uses SSL protocol to ensure that all data is encrypted and secure, so your ​money always stay safe during any trading conditions. The security of customers’ data is critical, as it determines how well the Binomo can protect financial information.

Without certain sensitive financial information such as credit card numbers, bank information, and other personal data, you can’t deposit or withdraw ​money, which makes platform security necessary. Having this first layer of protection from Binomo benefits you as the trader and preserves Binomo’s reputation.

Beyond the basics, the Binomo platform consists of several useful components to enhance your online trading experience. Charts, hotkeys, and fast refresh rates all have the potential to increase your payouts. Binomo offers all of these and then some.

Their platform has more than 20 different graphical tools to help you analyze your trading charts and history. Hotkeys allow for quick access and quick online trading, and they’re unique to Binomo. You won’t find them with any other traders. Additionally, Binomo provides an economic calendar integration and independent tabs for use with these various charts.

Their streamlined and efficient platform also includes many scalable features, along with the option to​ start trading with just one click—no confirmation needed. That, combined with the quick refresh rate, allows discerning traders to seize opportunities the moment they arise.

With their feature-rich platform, Binomo proves they have spent time evaluating and integrating the most essential elements to binary option traders.

Trade Types

Binomo offers the standard High/Low options trade type, also known as call/put options, and Turbo Trades. High/Low options are your standard call/put derivative options and are generally available from all binary options brokers.

High/Low options involve predicting whether the final market price of an asset will rise above or sink below the price at the start of a specified time limit. Turbo trades are similar, except with shorter time limits.

Although they don’t have a wide selection of trade types on their platform, Binomo does provide non-stop trading availability. The market never closes, which means you can trade whenever you want—including on weekends—setting them apart from other ​online brokers.

Regulation

Binomo is regulated by the International Financial Commission (IFC) and has been a Category A member since 2020. The IFC is an independent organization that helps regulate financial markets, and the fact that Binomo is both regulated and a Category A member speaks to their reputation as a​n option broker.

One benefit for traders is that the IFC has a compensation fund for all of its members. That means that if something were to happen to Binomo to compromise funds, traders would be protected for up to 20,000€. This protection assures traders of the safety of their ​money and lets them know that Binomo values your resources.

In addition to being a Category A member of the IFC, Binomo is certified by the FMMC. They’re also regularly audited by the VerifyMyTrade branch of the IFC. Their last audit was completed on February 13th, 2020, and the results passed the standards for execution quality. These regular audits and their independent certification speak to Binomo’s integrity as a broker.

Additionally, Binomo is in the process of acquiring a license via CySEC. For international customers, regulation is critical in determining which broker to select, and these certifications, audits, and regulations are signs that Binomo is a reputable broker with favorable trading conditions.

​Binomo Account Types

​When comparing ​online brokers, one of your first steps is to examine the different ​types of accounts that they offer. What is the minimum investment required? What are the benefits of the various entry points?

With Binomo, you can start with or upgrade to one of three account types. Each ​level offers various benefits, and as your investment increases, so do the potential yields and bonuses. Binomo has three account levels: Standard, Gold, and VIP. Let’s look at each of the account​s, what they require, and what you get when you sign up for each.

Standard

If you’re just getting started with binary option trading, the standard account may be your best match. It only requires $10 to ​start trading at this level, and you get access to 39 assets on the platform. Having a smaller number of available assets could be less overwhelming if you’re a beginner. It allows you to focus on understanding what you’re working with instead of the number of options available. Additionally, the low entry cost means that you won’t have to worry about risking your ​money. Other features ​include:

  • 3 days to withdraw payouts: Your funds will be available in your preferred method of payment within three days. This may seem like a while, but you’ll find longer wait times with some ​brokers.
  • Standard tournaments: Access to Standard tournaments allows you to participate in contests that may give you bonus funds
  • 84% max yield
  • 80% max bonus

For those with the capacity for more substantial investments, the Gold option is your next entry point. A Gold account requires a $500 ​deposit—quite a jump from Standard’s $10. A Gold account allows you access to more assets than the Standard ​level, so you get 42 instead of 39, and you will have earlier access to your funds. Instead of it taking three days to withdraw payouts from your account, you will be able to access them in 24 hours.

You’ll notice several other benefits with this account type that you won’t find with Standard accounts, including:

  • Gold tournaments: These tournaments have higher potential earnings than the Standard tournaments.
  • Manager: Aside from having someone who can assist you with your account, the benefit of having a manager is that sometimes they can provide you with a bonus deposit of matching funds.
  • Investment insurance to protect your assets
  • 86% max yield
  • 90% max bonus

The highest account tier you can get is ​VIP. This account has all of the features a VIP status should offer. You get quick access to your money, more assets to trade with, higher yields, and more bonuses. A VIP account requires a $1000 deposit. These funds give you access to 49 assets and only a four-hour wait time when you withdraw funds from your account. To assist you in managing your investment, you also receive a VIP manager. Your VIP manager provides support and assistance, as well as possibly offering bonuses.

Other features ​include:

  • VIP tournaments
  • 90% max yield
  • 100% max bonus
  • Investment insurance
  • Individual offers

For experienced ​traders, this type of account ​offers a significant benefit, especially when it comes to maximizing your ROI.

​Binomo Demo

When you’re considering an online broker, it’s a good idea to explore the company’s demo account before trading in a real account. Using a demo account will allow you to evaluate the platform and see if it offers all of the tools and features you want in an online trading broker.

Demo accounts are an opportunity to test drive before buying. You can become familiar with the platform’s processes for making trades and the layout of the user interface. A good broker will offer users a free demo opportunity, and Binomo does.

Binomo offers traders the opportunity to practice strategies and become familiar with the platform with their demo account option. To create a demo account, all you need to do is sign up with your email, and you will receive $1000 in virtual money.

These risk-free funds will allow you to see if Binomo meets your needs as a trader. If not, it’s easier to opt out than it is to close an account you’ve already invested in.

Assets

As far as assets go, Binomo has a selection that is comparable to others. At the highest account level of trading, you have access to 49 different assets that cover a range of asset types. Having a diverse selection of assets allows you to pinpoint what you are most comfortable trading. Binomo offers a wide array of assets that includes:

  • Commodities
  • Stocks
  • Currency pairs
  • Indices
  • Cryptocurrency
  • Commodity pairs

​Binomo ​Trade App

One feature to consider ​is whether or not the company has a mobile app. Mobile apps allow you to trade from any place, at any time, which can help you earn more payouts.

Binomo does have a mobile ​trading platform. You can find the iOS app in the Apple Store or the Google Play Store for Android.

One feature available on the app that you can’t get with the web platform is the option to receive notifications. Notifications can help maximize your profits by alerting you to market trends and letting you know when you meet certain trade preconditions.

Spreads, Commissions, and Leverage

Most ​trading platforms don’t charge a fee or commission. Instead, they ​earn money when a trader makes an incorrect prediction, thereby losing the trade. Per industry standard, Binomo does not charge a fee for their services. The fact that Binomo earns its money from traders who lose their funds means that for the traders who invest with large amounts, it can be quite a lucrative investment.

Binomo’s treatment of their VIP clients speaks to their earnings. The 90% max yield and 100% max bonus equate to higher payouts. On the other end, the ability to invest and learn at a lower entry point means that their Standard traders do not lose any of their investment to spreads or commissions. As with most other binary options platforms, Binomo does not use leverage. If leverage is important to you, another platform or broker might be a better match.

Binomo Bonuses and Promos

Many ​brokers offer bonuses and promotions for your first deposit. However, at the moment, Binomo does not have any promos or bonuses advertised.

They do have regular tournaments, each one unique to the different account levels. The cost of entry ranges from free to $30, depending on the level and type of tournament. The prize funds for the tournaments begin at $300 and reach as high as $40,000. Additionally, as we mentioned in the accounts section, there are bonuses available at the Gold and VIP account levels.

​Deposits and Withdrawals

​With Binomo, the minimum deposit required depends on what type of account you want to open. You can get started trading with real money for as little as $10 with a Standard account, but for a VIP account, you’re looking at dropping at least $1000 right away.

When you withdraw your money, you may encounter a 10% fee, but only if you haven’t made a minimum number of trades. The website uses SSL to keep your data encrypted and safe, and funds of up $20,000 are protected against fraud. For deposits and withdrawals, you have several different options:

  • Credit Cards (Visa and MasterCard)
  • Bitcoin
  • Litecoin
  • Neteller
  • Jeton
  • Indian Banks

Is Binomo A Scam?

No, Binomo is not a scam. Binomo is a legitimate online trading platform that is used by thousands of traders everyday from 133 different countries across the world. This broker is a category “A” member of the IFC (International Financial Commission), which includes up to $20,000 in protection for case disputes. By joining the IFC, Binomo reaffirms its commitment to maintaining the highest standards of conduct and business practices.

Yes, ​binary option trading in India is legal with Bonomo. However, this broker is not regulated by the Securities and Exchange Board of India. Binomo is an offshore broker and is based out of St. Vincent and the Grenadines. They accept traders from over 113 different countries, including India.

Customer Support

​Binomo has several options for how to reach out to them.

  • Chat: On their website and ​app, there’s a chat window that pops up and provides you with a live chat option. The live chat function is robust and supports multiple languages.
  • Skype: Binomo displays their Skype handle prominently on their website, in case you’d prefer to reach out to them there. Contact them at support.binomo.
  • Email Address: Perhaps your concern doesn’t require immediate attention. In that instance, you can send an email to [email protected], and they’ll reply as soon as they can.

Dolphin Corp
First Floor, First St. Vincent Bank Ltd
James Street
Kingstown
St. Vincent and the Grenadines

With a ​broker like Binomo, you want to know what you’re getting with your investment. Check out the advantages to their platform and policies to see if they’re right for you:

  • Responsive customer support
  • Non-stop trading
  • Robust demo account
  • $10 minimum deposit
  • $1 minimum trade
  • Availability of weekend trades
  • Potential 90% maximum profit
  • Tournaments with prize funds

Although there are many benefits to Binomo, it will not be the best option for everyone. If you’re looking for any of these features, you will, unfortunately, be disappointed:

  • Limited number of assets to choose from
  • Limited trade types
  • Not supported in the USA or Europe
  • Despite it being a Category A member of the IFC, it is only certified under the FMRRC
  • No social trading
  • No signals

Final Thoughts on Binomo

Binomo offers a wide range of features and tools that make it a viable, user-friendly platform for many traders and investors who are interested in entering the binary options market. Binomo has something for traders of every skill level.

Its functional mobile app is particularly seamless, and its low entry cost at a $10 minimum deposit means that even new traders who aren’t yet ready to dive into the world of ​online trading can try it out with little to no risk.

At the same time, its charts and strategic tools can still satisfy the more disciplined binary options trader. Overall, it’s a solid, reliable pick for your next binary options broker.

Binomo Review

Introduction

Established in 2020, Binomo is a binary options broker registered in St. Vincent and the Grenadines under the trading name of Dolphin Corporation. 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 making them a regulated broker.

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 so you can start trading. They also offer comprehensive customer support and an excellent mobile trading experience for those who like to trade the markets 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 Binomo 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.

In this review, you will learn:

    What makes Binomo stand out from their competitors The different trade types, payouts and assets available Why we think this broker is a good choice for traders

Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain from referring new customers.

Account Types

There are many account types available from Binomo, all of which require different deposit amounts and offer a range of benefits:

Standard Account

You can open a Standard account with just $10. This is a real account and you get all of the benefits of the Binomo trading 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

Gold Account

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%.

VIP Account

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 trading platform.

Despite the proprietary trading 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.

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.

High/Low Options

High/Low Options are the classic type of binary options trading 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

Special offers 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.

Mobile Trading

Being able to binary options trade on the move is make or break for a broker in this age of digital technology. The best binary options brokers offer a mobile app with others providing at least a mobile responsive website that recognises the device you are using. Binomo also offers an app which is available on the App Store, for iOS users and Google Play, for those using an Android device. Both mobile apps offer the best trading conditions compared to the website in our opinion.

The beauty of using the Binomo 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 Binomo trading platform. So, when you login 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 mobile trading.

Deposits And Withdrawals

Standard account holders can open an account with a minimum deposit of just $10. For Gold and VIP holders this is more. It is easy to make a deposit using one of many accepted payment methods including personal credit cards like Visa and MasterCard. Once you have made a deposit, the funds are available immediately to trade on the market.

If you are making a withdrawal, you merely request the amount that you wish to withdraw. Ordinarily, there are no withdrawal fees however if you haven’t traded your deposit amount a required number of times, then you will be charged a 10% fee. The time it takes for the withdrawal to reach your account depends on the account status that you hold. For Standard Account holders, it is three working days. Withdrawals can be expedited to less than 4 hours if you have a VIP account.

Special Features

Binomo has lots of desirable features. Not least their demo account which gives you virtual funds of $1,000 in return for your email address. We have already mentioned the low deposit and minimum trade requirements which add weight to the favourability of Binomo as a beginner’s platform. Their customer support seems to be comprehensive, and they are contactable in some different ways.

Another feature of the Binomo platform is the analytical support and advice that is available to Gold and VIP Account holders. They also offer “free training” which includes an extensive knowledge base, great for traders who want to learn more about binary options trading effectively. Binomo investment do not currently offer Forex trading, look for Forex brokers if you want to trade Forex currency pairs.

Customer Support

Being able to access the broker with questions and concerns is essential, especially to new traders. If you have a problem or a query, you want to know that it will be dealt with quickly and efficiently. Binomo offers a live chat function. Just click the little red message icon at the bottom of the screen, whether on a desktop or a mobile device, to open up the live chat box. You will then see a list of language options.

Besides live chat support, there is also a contact link at the bottom of the website. Here you will find the opportunity to contact Binomo support via Skype or email. There is also an address and a message box. The message box has some fields including your name, email, telephone number and details of your message. They also have a Facebook page and Google maps embedded into their website. All of this would indicate that they are easy to get hold of and highly visible.

Here are the contact details for Binomo:

    Email – [email protected] Skype – support.binomo Address – Dolphin Corporation, First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines.

Conclusion

All in all, Binomo seem to be a good choice for the new trader. Our conclusion is largely down to the fact that they offer a minimum deposit of $10 and a minimum trade amount of $1. Even if you were only to deposit $10, you would be able to execute ten trades to test the platform. $10 is less than you would lose from one trade on many of the other popular platforms with a minimum trade requirement of $25. In addition to this, their demo account is straight forward enough to encourage most newbie traders to give it a go. All you need to enter is your email address.

Customer support seems reasonable, and the mobile trading experience is suitable for trading on the go. The site is intuitive and easy to navigate. In our opinion, if you are looking for a broker that suits the first-time trader, then Binomo seems like a good choice. We would also like to state that during our Binomo review, we conducted our fraud due diligence to see if this binary option broker was a scam or not. We managed to deposit and withdraw fund with no issues and as a result, have no problem with this broker at present.

Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain from referring new customers.

Frequently Asked Questions

Is Binomo legit, will they scam me?

We have found no evidence to suggest that they might scam you, and the fact that they have been regulated for a few years without incident indicates that this is a safe broker.

Do they have a decent mobile or tablet app?

Yes, Binomo offers a mobile app for both iOS and Android users. Their website is also responsive. The apps are free to download and mean that you can trade on the move.

What bonus do they offer for new traders?

Binomo offers a variety of binary option bonuses that change regularly. They range from 25% to 100% and are deposit match bonuses. Match bonuses mean that you will get a bonus depending on the amount of your deposit.

Can I start trading on a free demo account?

You don’t need to make a deposit, enter your email and you receive $1,000 of virtual funds. You can then use the virtual platform to get yourself familiar with its functionality.

What’s the minimum deposit and trade amount?

The minimum deposit is $10. The amount is low in comparison to other binary options brokers. The minimum trade amount is just $1. Many brokers require a deposit of at least $25 with a minimum trade of this amount as well.

Jacob has been an author for us since our launch in 2020. He has over forty years’ experience in the financial sector and has held a variety of positions within financial services corporations and venture capitalist organisations.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Options Broker 2020!
    Good Choice for Beginners!
    Free Trading Education, Free Demo Account!
    Get a Sign-Up Bonus Now!

  • Binomo
    Binomo

    2nd in our ranking!

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