Binomo Review – Online Platforms, Commission, Leverage, Account Types, Features & more
One of the most popular trading platforms for traders who are interested in Binary options is Binomo.
The trading platform is not like other trading platforms as the platform tends to have some level of focus on minimum trade size requirements.
This is perfect for managing risk and VIP options for some serious traders that have some experience with regards to Binary options trading.
The time to start is mostly now as traders can earn at least 90% of return per trade and the entry requirements are also minimum.
The only reason why this service is a top pick for traders because it’s filled with stunning features.
About Binomo and accepted countries
Ideally, Binomo is a binary options broker and is well known for its commitment towards offering low trade requirements and also a plethora of other beneficial features for the new entrants in the market.
Back in 2014, the company began trading, and since then, it has been providing highly targeted service, which mainly aims at binary options traders.
Besides binary trading, the platform also offers cryptocurrency, forex, and CFD trading but the broker as a whole is not the focus.
Currently, the broker is said to be operating as an unregulated service even though it is a member of FinaCom.
The company has its headquarters in Seychelles. Tiburon Corporation Limited has run the site.
|Founder / CEO||Dolphin Corp|
|Headquarter||St.Vincent and the Grenadines|
Traders from Thailand, South Africa, India, the United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar, and most other countries can trade on this platform.
While traders from Canada, United States, Australia, Mali, Austria, Belgium, Bulgaria, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Greece, Hungary, Ireland, Italy, Germany, Laos, Lithuania, Malta, Netherlands, Poland, Portugal, Romania, Slovenia, Slovakia, Spain, Norway, Sweden, United Kingdom, Cyprus, Switzerland, Israel, Singapore, Hong Kong, New Zealand, Iran, Japan, Russian Federation, Belarus cannot trade on this platform.
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Binomo Trading Platform
Binomo is most likely to offer a streamlined, efficient, and practical trading platform that is specially designed for Binary options as the trading platform focuses on it.
The platform is both functional and contemporary, and it is frequently updated with high-quality features to fix all bugs which might arise over time.
|Desktop Platform – Windows||Yes|
|Desktop Platform – Mac||Yes|
|Desktop Browser Platform||Yes|
|Mobile Site Platform||Yes|
|Android App Platform||Yes|
|iOS App Platform||Yes|
|Windows App Platform||No|
|Other Mobile OS Platform||No|
|Real time Updates||Yes|
|Trading Platform Supported Languages||Bahasa, Indonesia, Português do Brasil, Tiếng Việt,Hindi,|
Español, Українська мова,Türkçe,, ไทย,, 中文,
Қазақ тілі,اللغة العربية
When the platform started trading, it initially used SpotOption as its platform. But as of now, the company has moved towards its own practical design that meets the mark for clients.
Some of the vital points of the broker are Efficiency and practicality.
Lastly, in the competitive market, Binomo is said to be ahead of the curve in terms of offering practical, mobile-reactive, and innovative platforms.
Binomo Mobile App
In the digital era, it is vital for all traders to available on the mobile app.
Binomo offers binary trading through the mobile app, and it claims to provide an entirely smartphone-accessible platform. Additionally, the app is available for both Android and iOS users.
Push notifications are most likely to be used in a smart way to keep the traders on the nook, and through it, they can see anything like the current traders or the upcoming tournament.
You can be stress-free as Binomo’s mobile platform is fully functional, unlike other traders. Thus you can access the platform anytime.
Check out Mobile Apps of more Forex Brokers
Binomo Commission or Brokerage or Fees
Typically, Binomo doesn’t charge any extra cost or fees for the use of their trading and brokerage services.
It is highly beneficial for traders as there is no brokerage charged as such. Instead, Binomo makes money through the money that is generated by traders on completing a loss.
It is a unique way of processing their income, which is fantastic for traders, especially for traders who are planning to ramp up their trading to another level.
The platform is highly beneficial for VIP clients as it offers 100% on payouts integrated with the reduced costs and absent fees.
|Commission on trades||No|
Binomo Exposure or Leverage
Unlike another majority of the trading platforms, Binomo doesn’t utilize leverage under its part of offerings as it is a Binary trading platform.
If you are a trader looking for successive leverage in particular, then this platform is not for you indeed.
Except for leverage, Binomo promises a plethora of other advantages that make it completely worth it for traders.
Binomo Payment Methods
One area where Binomo tends to extremely easy is funding accounts. It is mainly because they cater to an international customer base.
|Deposit Options||Credit Card, Mastercard, Perfect Money, Skrill|
|Withdrawal Options||Credit Card, Mastercard, Perfect Money, Skrill|
By this, it means that there are several payment options other than just country-specific options. Some of the top funding options include VISA or MasterCard bank card.
At the same time, some other international payment options are also available. You can start by paying $10, which is ideally a minimum deposit, and it is quite attractive for beginners.
$500 is the recommended deposit amount for traders. You can also take advantage of the offers and promotions if you are smart enough.
Find out Payment Methods provided by other Forex Brokers
Investment in Asset Classes or Market by Binomo
Binomo claims to host at least 50 different assets that can be opened by traders who have signed to this platform.
The assets tend to include a variety of other markets and options to offer traders maximum flexibility. It is perfect for traders who don’t like to stick to one asset or market for a long time.
The platform specializes in both high and low trading. Some of the assets the trading platform supports:
- Bitcoin, Litecoin, and other cryptocurrencies
- Popular stocks such as Google and Disney
- Indices, such as DAX or CAC40
- Currency pairings (GBP/USD, for example)
- Gold, Oil, and similar commodities, including pairings
|Total Tradable Assets||NA|
|Number Of Currency Pairs||NA|
|Number Of Cryptocurrencies||NA|
|Number Of Stocks||NA|
|Number Of Indices||NA|
|Number Of Commodities||NA|
|Number Of Futures||NA|
|Number Of Options||NA|
|Number Of Bonds||NA|
|Number Of ETFs||NA|
Binomo Virtual Trading or Demo Account
The trading platform offers a fully accessible and cohesive demo account for interested traders. You can create a demo account by entering your email address.
The account is most likely to offer virtual money up to $1000 upon signing up. You can top up the money anytime.
It is mainly beneficial for traders who are willing to get a grip on trading.
Within the demo account, almost all functionalities are integrated, which ensures that the traders can get a great understanding of the Binomo proprietary platform without entering the real market.
Above all, you can get a natural feel of trading under the demo account.
|Virtual Money||$ 10000|
Binomo offers or Deals
Often Binomo offers incredible deals and promotions to their clients. It includes signing up for a promotion or topping up their account with extra funds.
Advertisements are most likely to be seen by RoW regions (such as Brazil and South Africa). EU traders cannot expect to receive any promotions.
These deals tend to vary daily, so you should always keep an eye on the prevailing opportunities to get the best value for your investment.
If you are a beginner at depositing $500, you can get additional support and also personalized training so you can fast-track your learning process.
|Free Learning Courses||Yes|
|Free Demo Account||Yes|
|Discount on Brokerage||Yes|
|Flexible Brokerage Plans||Yes|
|Forex Trading Contest||No|
|Trading Bonuses & Rewards||Yes|
Binomo Regulation and Licensing
Since 2018, the trading platform is said to be regulated under the International Financial Commission (IFC), and it has been a category A member.
The IFC is said to be an independent organization that helps in regulating the financial market. The best part about its membership with IFC is that it offers compensation to almost all members.
The traders are most likely to be protected up to 20,000€ if something were to happen to Binomo. The trading platform is also regularly audited by the VerifyMyTrade branch of the IFC.
The regular audits reflect their integrity. Through CySEC, Binomo is in the process of acquiring a license.
Find out Regulations & Licensing of more Forex Brokers
|Easy Markets||Fusion Markets||Go Markets||IronFX|
|FP Markets||FXPro||IG Group||Libertex|
Binomo is said to be a simple platform as it is not only streamlined and comfortable but also easy to navigate.
The trading platform has unique features for traders to use and implement quickly. It includes several high-end analytical tools, an integrated calendar, and the tournaments feature.
In almost all editions, Binomo places into its proprietary browser platform, which can be added in the new updates every now and then.
Additionally, it focuses on producing quality features that help its traders.
|Social Trading / Copy Trading||No|
|Guaranteed Stop Loss||No|
|Guaranteed Limit Orders||No|
|Guaranteed Fills / Liquidity||No|
|Trading From Chart||Yes|
|Interest On Margin||Yes|
|Other Trading Features||No|
Binomo Account Types
In line with the rivals in the industry, Binomo offers three different tiers of accounts to their clients, depending on their funds in the account.
If you want to achieve the account statutes, you don’t have to pay anything extra as such. Additionally, the deposit limits depend on funding over time instead of a single deposit.
Some of the accounts offered by Binomo are:
|Account Type||Standard account||Gold Account||VIP account|
|Initial Deposit||$10||$ 500||$ 1000|
Binomo Standard Trading Account – Under this account, traders have to deposit $10, and necessary access to the Binomo platform and tournaments is accessible.
Gold Account – Under this account, traders have to deposit $500 minimum, and it offers access to strategy guides, faster withdrawals, and management.
VIP Account – Under this account, the trader needs to deposit $1000 minimum, and they can have access to all privileges on the Binomo platform.
Irrespective of the type of account you choose, all traders will have some of the other options to choose from, which meets their needs.
You can be assured to get the right account as per your budget requirement.
Binomo Trading Account Features
Check below all the trading account features under various account types:
|Trading Desk Type||N/A|
|Suitable for beginners||Yes|
|Suitable for professionals||N/A|
|Suitable for scalping||N/A|
|Suitable for daily trading||N/A|
|Suitable for Weekly trading||N/A|
|Suitable for swing trading||N/A|
Binomo – Research & Advisory
Find below all the different reports and support provided by its Research & Advisory team:
|Daily Market Commentary||Yes|
|News (Top-Tier Sources)||Yes|
|Company Stock Review||Yes|
|Free Stock Tips||No|
If you are a beginner or expert, Binomo is your future trading platform, provided you are interested in binary options.
Some of the reasons you should trade on this platform are:
- Low starting requirements, ideal for beginners.
- Easy and transparent tiering account system
- The minimum deposit amount $10
- A personalized designed platform that works smoothly on mobile devices
- Easy and quick withdrawals
- A fully operational demo account that makes traders confident for trading
- Its focus on the growing markets in countries including Brazil, India, and Indonesia
Binomo Cons or Drawbacks
No doubt, there are a plethora of positive things to look at, but one thing is for sure that you cannot forget the cons.
Some of the reasons why we should think before investing in this platform:
- Assets available are quite limited, especially for those who enjoy trading in cryptocurrency.
- It doesn’t have any recognized regulator.
- The desktop software is not available. Only app and browser availability.
- Social trading, insight, and signals are not available.
Thus, there are some downsides that you cannot overlook as a trader.
Binomo Trading Hours
Being an international trading platform, Binomo offers round-the-clock availability for their clients.
The platform is said to be ideal for night owl clients or people located in different time zones.
Some of the specific time slots are to some of the particular features, including competitions and tournaments.
Binomo Customer care or Contact Details
Binomo also offers customer care and support through different methods, and of all the ways, live chat is one of the most popular methods.
The Binomo platform makes live support available directly. By this, we mean that traders are not likely to open a new window to chat through queries and problems with the support team.
You need to know that live chat is not available round the clock, and during the busy periods, it is most likely to get choked up.
But round the clock, a backup email support service is also provided. You can drop in a mail at firstname.lastname@example.org.
Lastly, traders can also get in touch with the company directly through their address: Dolphin Corp, First Floor, First St. Vincent Bank Ltd, James Street, Kingstown, St. Vincent, and the Grenadines.
|Support During Weekends||Yes|
|Live Chat Support||Yes|
|Customer Support Languages||Arabic, Chinese, English, Indonesian, Italian, Portuguese, Russian, Spanish, Thai, Vietnamese|
Binomo Safety and Security
Safety is said to be one of the top priorities for Binomo. It is mainly because it operates across multiple countries.
Broker has established a high level of safety for their customers by creating their own platform. It is mixed with safe and approved payment methods for both withdrawals and deposits.
Above all, it is essential to trust your chosen broker from the beginning.
Binomo Rating & Reviews
Based on different users and their experiences below are the company rating and reviews:
|User Experience||7.5 / 10|
|Products & Services||7.8 / 10|
|Brokerage Charges & Fees||8.1 / 10|
|Research & Advisory||7.2 / 10|
|Trading Platforms||7.1 / 10|
|Overall Ratings||7.6/ 10|
|Total Client Reviews||73|
Binomo Conclusion or Verdict
Binomo is one of the most viable, user-friendly platforms for a plethora of users and investors, mainly because it offers several features and tools.
Notably, it features a functional mobile app that is incredibly seamless. Lastly, it is an excellent, reliable pick for the binary options broker.
The site is also intuitive and easy to navigate.
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