Binomo Review 2021

Binomo Review 2021
Davis J.
Robertson A.
March 2021

4

Position
in rating

Trading terminals:

Binomo
4

Position in rating

9.3/10
Overall rating

Trading terminals:

Binomo

Attention!

Due to the large number of negative reviews about this company and because it occupies the low position of number 20 on our Ratings List of Forex brokers, the Traders Union does not recommend cooperating with this broker.

Instead, our experts strongly advise you to select a brokerage from among the Top 5 on our objectively ranked list:

Summary of Binomo Trading Company

Binomo is one of the top volatile arbitrage websites. It also includes broker and related services, like training, analytics, and client support. This high-tech service allows clients to objectively assess the real market situation and deduce the level of risk. Binomo is regulated by the Financial Commission, an independent organization on dispute settlement that specializes in financial markets. Since 2018, the broker has been a member of the “A” category of the International Financial Commission. This is a guarantee of quality, reliability, safety, and protection of the trader.

💰 Account currency: USD, EUR
🚀 Minimum deposit: $300
🔧 Instruments: Currencies, stocks, indices, contracts (classic and minute), commodity and cryptocurrencies
Attention!

Traders Union works with accounts only through the Traders Union website.

👍 Advantages of trading with Binomo:

  • the trading platform is high level and has a wide range of assets;
  • quotes from the best leading news agencies;
  • the analytical procurement is excellent.

👎 Disadvantages of Binomo:

  • high minimum deposit in comparison with its competitors;
  • no investment programs;
  • no cent accounts;
  • the website is not informative enough;
  • although, the platform is very functional enough, it takes some time getting used to;
  • the verification procedure, which is necessary to withdraw funds, it is rather complicated, but only during its first processing;
  • few options for affiliate programs.

Overall

Binomo is a broker for those who treasure quality and reliability. The impressive range of trading instruments is an advantage. Binomo is a proper broker for both novice and professionals traders who work on a PC or prefer to trade on a mobile device.

Visit Binomo

Geographic Distribution of Binomo Traders

Binomo Latest Comments for 2021

15
0
0

Positive reviews increase standing and, of course, any negative reviews decrease its position in the ratings.

Just register and get authorized to submit a review of the broker’s activities and conditions on its platform. Everyone can and is invited to submit a review. All reviews of Binomo published on the website in 2021 are verified and confirmed by Traders Union as reliable comments by real traders.

Binomo is the only broker I work with. I’ve earned $300 in the first two months. There are loads of brokers and some of them are heinous, choose your broker carefully. With Binomo, traders have ample opportunities to accumulate income. When it comes to binary trading, Binomo offers real-time prices in more markets than any other broker, including tons of currency pairs. The advantage of working with Binomo is that you can tailor your investments according to your specific needs. And if you prefer to trade with your mobile device, Binomo’s trading platform is perfectly compatible with my trading habits. I strongly recommend this phenomenal broker.

Since I stumbled across Binomo, I have been walking on air. They have tons of promotions that won't leave you hanging. You can invite your friends so you can get credits that can be used for reward spending. This broker allows traders to improve and hone their skills at every stage of their trading journey. There are step-by-step guides and a range of in-person seminars.

There are countless trading and exchange platforms, and a trader must look for the best. One such platform that boasts of providing premium services is Binomo. There’s a perfect place for full-fledged trading and investing. New traders and regulars do not need to worry about the safety of their funds, as the broker is legit and holds every client accountable. I was overjoyed.

Binomo is ahead of its competitors because it maintains healthy business relationships with other platforms and larger crypto institutions to make it easy for traders to use and enjoy fair prices and liquidity from the relevant institutions. Binomo a VIP player in the cryptocurrency market.

I’ve always wanted to know more about digital asset trading, so the ultimate decision for me was learning from educational and informational trading webinars. Many people have benefited from these programs and have become good traders later on. There are few exchange platforms on Forex that are concerned about educating their clients and traders. Most brokers are only interested in the business’ success and the trading that occurs on their platform; so this is a plus for Binomo. They make me feel like a student of the trading game.

I was obsessed with their instant and easy-as-cake registration. It is a hassle-free process. You need to fill in the fields that require your name and your phone number. Your email address and your country of residence are also required when registering. The next step after registration will be to verify your account. Verification requires you to provide legal forms of verification, such as an officially issued identity card or an international passport. This demonstrates that the broker values its reputation.

This broker has an excellent trading platform and superb technical support. If something is as clear as mud for you, they got your back. If a customer has questions that are often not covered in the FAQs section, they can contact the customer support hotline. The Contact page on the site is intended to offer you additional assistance. They solved my problems in a heartbeat.

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Video Review of Binomo

Expert Review of Binomo

The Binomo broker is recognized by the members of the Traders Union as a stable company with favorable conditions for trading options. Binomo has proved itself as a reliable partner over time and fulfills its obligations to its clients.

Binomo offers a free demo account that does not require any replenishment and is intended for exploration of the platform and its conditions. The broker also provides three real accounts with different conditions for choice: Standard, Gold, and VIP. The demo account offers an opportunity to practice without risk. Binomo also offers the best option for real trading, full stop.

This brokerage company is perfect for those who are just starting a career as a trader. There is a training section, as well as a section with the trading strategies described. They are divided into levels depending on the complexity, which is quite convenient. Professional traders may also be interested in becoming a broker. The company has a huge range of options, good trading conditions, and analytical tools that could help to divine price movements.

Antony Robertson

Traders Union
Financial Analyst

Analysis of the Main Features of this Binary Broker

9.3

Overall rating

9

/10

Execution of orders

9.6

/10

Investment instruments

9.4

/10

Withdrawal speed

9.2

/10

Customer Support work

8.9

/10

Variety of instruments

9.7

/10

Trading platform

Dynamics of the Popularity of Binomo
in 2020 among the Users of the Traders Union

Logo TU
20,0%
Top 3
10,0%
Top 5
7,0%
Top 10
5,0%
Top 20
1,0%
Top 40
0,5%
Top 100
0,2%
Top 100+
0,05%
Jan.
Feb.
Mär.
Apr.
Mai.
Jun.
Jul.
Aug.
Sep.
Okt.
Nov.
Dez.

Investment Programs, Available Markets and Products of the Broker

Binomo has no investment programs. Auto-copying of transactions is not provided either. It is also worth noting that although trading with advisors is allowed, searching, installing an ATE, or other extras is left up to the trader. The site is designed for clients who prefer to go solo.

The lack of investment options is offset by other advantages of the company. Binomo offers pretty good affiliate programs, which allows its clients and individuals to get additional income.

It is believed that the unique platform and high quality of service, complete with keen trading conditions, outweigh the absence of passive earning opportunities.

Important!

If you are a large investor and plan on investments over $ 10,000, contact us at [email protected] by the feedback form on our website. Our professional team will take you through all the intricacies of thedeal and all the steps from signing up to withdrawal of profits.

Binomo affiliate program:

Every active user of social networks and various forums, as well as the website owner, regardless of the thematic scope, has the opportunity to cooperate with Binomo on partnership terms. It is interesting to note that Binomo's partner is guaranteed to get an interest in the transactions of the clients he attracted. And the result (win or lose) of a trading operation does not matter.

There are two ways to make money with an affiliate program:

  • attracting customers. Provides the opportunity to get 2% of the price of each option purchased by a trader;

  • attracting referrals or the same system partners like you. Provides the opportunity to make a profit of 5% of their income.

There is no profit limit. The income increases on a pro-rata basis to the number of registered users who clicked the referral link and registered in Binomo.

Rebate and Discount Programs of the Traders Union for Binomo

The Traders Union pays monthly compensation for spreads in each trade using Binomo. This is a rebate. There are no withdrawal restrictions: as soon as the money is credited to your account, you can withdraw it immediately. All conditions for the client of Binomo remain the same. The only difference is that cooperation with the Traders Union provides an opportunity to get additional income. For each transaction made in Binomo, the Traders Union pays the trader a rebate in the amount of 80% of the affiliate payment:

Information

Binomo pays 7% of the option value to Traders Union

Example. You are trading a binary option that costs $45. When cooperating with a broker through Traders Union, you can regain a part of this cost. Calculation: $45x0.07x0.8=$2.52. You will get this amount for a completed transaction from Traders Union as a rebate.

Try it!  Try it!

Trading Conditions for Binomo Users

Binomo has been chosen by traders from 130 countries. The company differs not only by favorable trading conditions but also by the high quality of services provided, as well as reliability.

You can choose any of 3 types of real accounts; just read more about the features of each one. Like with other brokers, you can open a free demo account at Binomo. It permits you to perusal the volatility arbitrage mechanism. Moreover, a demo trading account can be used to test trading strategies. The minimum deposit to enter the real market is $300.

$300

Minimum
deposit

24/7

Support

Binomo
💻 Trading platform: Binomo
📊 Account types: Free, Standard, Gold, VIP
💰 Account currency: USD, EUR
💵 Replenishment/Withdrawal: VISA/MasterCard, Neteller, WebMoney, Perfect Money, PSB, Payeer, cryptocurrency wallets, Bitcoin, and Litecoin
🚀 Minimum deposit: $300
📈️ Min Order: 1 USD
🔧 Instruments: Currencies, stocks, indices, contracts (classic and minute), commodity and cryptocurrencies
📱 Mobile trading: Yes
➕ Affiliate program: Yes
⭐ Trading features: Non-stop mode allows you to open the next position without waiting for the previous one to close. There is trade on weekends
🎁 Contests and bonuses: Yes

Comparison of Binomo with other Brokers

Binomo Binary.com IqOption ExpertOption Corsa Capital OlympTrade
Trading
platform
private trading terminal Webterminal IQ Option Digital-options WebTrader Webterminal
Min deposit $10 $5 $10 $50 $1 $10
Trading
instruments
indexes, stock, currency pairs / CFD, goods indexes, Forex, goods, stock, random index Forex, goods, indexes, stock no indexes, stock, Forex, tick options, futures binary options currency pairs / CFD, oil, BRENT grades, gold, silver
Signals Yes No Yes No No Yes
Analytical
support
Yes Yes Yes No Yes Yes
Training Yes Yes Yes No Yes Yes
Additional
tools
No premature closing Return of the fixed percent from deal at the unsuccessful forecast No Cancelling of an option prior to the beginning of its action Cancelling of an option prior to the beginning of its action

Broker comparison table of trading instruments

Binomo Binary.com IqOption ExpertOption Corsa Capital OlympTrade
Forex No Yes Yes No Yes Yes
Metalls No Yes Yes No Yes Yes
Crypto No No No No No Yes
CFD No Yes Yes No Yes No
indexes No No No No No Yes
Stock No No No No No Yes
ETF No No No No No Yes
Options Yes Yes Yes Yes No Yes

Binomo Commissions & Fees

Information

Binomo was examined by the experts at Traders Union for trade and non-trade commissions. In the category of the trading commission, the company’s spread was considered, and as a non-trading commission, an additional withdrawal fee was considered.

Account type Spread (minimum value) Withdrawal commission
Standard From $2 No
Gold From $0 No
VIP From $0 No

We also made a comparative analysis of Binomo's trading commissions with competitors. Based on a comparison of the brokerage companies, we assigned a level: low, medium, or high.

Broker Average commission Level
Binomo $2 Low
OlympTrade $5 High
Binomo
$2
OlympTrade
$5
Conclusion

The Binomo broker charges average commissions compared to its main competitors, Binarium and Olymp Trade.

Detailed Review of Binomo

Binomo is one of the top companies providing services in the options market. The broker is regulated, which provides its clients with protection. Binomo is aggressively improving itself and offers traders various breakthroughs regularly. The young broker is certified by the FMRRC (Financial Market Relations Regulation Center), suggesting a high quality of service and a solid safety record.

In 2015, Binomo obtained the “Best Broker for Novice Traders” award by Forex Expo Awards; and in 2016 the company was awarded the “Broker of the Year” by IAIR.

Binomo is the best broker for novice and professional traders

Binomo is functional, processable, and reliable. The company pays attention to training and providing useful materials on its website, which include articles and video tutorials. It also offers online training in the form of webinars on an individual basis. The broker offers three types of real accounts. The minimum deposit starts from $300, depending on the real account selected.

Binomo is a great option for traders using various strategic models. Moreover, you can find several strategies with their detailed description in the corresponding section on the official website. Instant Execution is another attractive feature of Binomo.

Clients use the company's proprietary software as a terminal. Binomo's software is also available in a mobile version for Android and iOS devices. The platform allows you to work non-stop, including trading on weekends. It is also comfortable that a trader can open a transaction or position in several orders without waiting for the previously opened positions to close.

Binomo’s analytical services:

  • daily market review;

  • forecasts for various trading instruments.

Advantages:

1

functional web-terminal supporting two options types;

2

wide range of trading tools: currencies, stocks, indices, contracts (classic and minute), commodity and cryptocurrencies

3

quick withdrawal of funds.

4

access to a unique non-stop trading mode that allows you to open several positions at the same time;

5

personal analytical support, an expanded set of tools and personalized offers for Gold and VIP accounts, such as deposit insurance, 10% cashback of costs;

6

responsive support service that operates twenty-four/seven;

7

15 indicators and over 25 tools for drawing on the charts;

8

you can work even on weekends;

9

quotes from the world's leading news agencies;

10

technical analysis of the market in a browser;

11

regular contests and tournaments with substantial prize pools;

12

effective training using video tutorials, articles, and demo accounts.

How to Start Making Profits — Guide for Traders

Binomo offers several types of accounts. The standard replenishment currencies are the euro and dollar. Gold and VIP account holders are provided with personal manager services, advanced market analysis, and additional bonuses such as deposit insurance, as well as cashback in the amount of 10% of costs.

Types of accounts:

Account Type
Description
Standard
This account requires a minimum deposit of $300 to start real trading, with 39 trading assets in your toolkit. The maximum profit margin is 84%, and the maximum possible bonus is 80%;
Gold
The minimum starting amount is $15,000. You have 42 trading assets at your disposal. The maximum profit margin is 86% and the maximum bonus is 90%. As a Gold trader you will be provided with such privileges as investment insurance and a personal manager;
VIP
To open an account of this type, you need a minimum deposit of $30,000. In addition to a personal manager and investment insurance, you’ll have 49 available assets. The maximum profit margin is 90% and the maximum bonus is 100%.

It should be noted that all clients of the broker can take part in tournaments, regardless of the type of account. But the category of tournaments and, accordingly, the prize fund, as well as the speed of withdrawal of funds, directly depends on the type of account. So, for the standard account owners, the withdrawal procedure will take up to 3 days, but Gold clients will get their funds within 24 hours later. The procedure will take up to 4 hours for VIP account holders.

A demo account is also available and its holders are eligible to participate in the corresponding tournaments. However, there are restrictions on the fund’s withdrawal, and only 18 units are available in the trading assets toolkit.

Binomo uses a proprietary terminal for trading, which is available in both desktop and mobile versions.

Bonuses Paid by the Broker

Bonus from 20% to 60% for the replenishment of the deposit.

Allows you to choose any type of bonus that suits the type of account and the amount of the deposit.

Bonus from Traders Union.

Registration at the Traders Union allows you to save on costs. Just follow the referral link to the Binomo broker website and open a trading account. If you are already a Binomo client please find here detailed instructions on linking your broker account to Traders Union.

Investment Education Online

Information

Binomo is scrupulous about training, and the proof of this is the well-implemented training section. It includes detailed video tutorials, a glossary of terms, and an explanation of concepts. The broker provides information on the basics of analytics and trading strategies. The company also carries out webinars.

Information available in the Analysis and Education section
Information not available on the Binomo site
Glossary
No trading manuals
Video tutorials
 
Trading strategies
 
FAQs
 

It is recommended to use a demo account to verify the knowledge gained and test trading strategies, as well as to learn more about the Binomo terminal. You can safely start trading on the real market after training on the demo account. There is a special analytical section with an economic calendar, news, and market overview that is built into the trading platform to support traders.

Security (Protection for Investors)

Information

Binomo is regulated by the Financial Commission, which also has an independent dispute resolution organization that specializes in Forex markets.

This broker is in an “A” category member of the International Financial Commission. This affiliation confirms Binomo’s commitment to the highest standards of commercial honor and to maintaining the best business practices. The company was certified by the FMRRC to confirm that the Binomo brokerage company was thoroughly verified by the Relations Regulation Center specialists, complies with its provisions, and is recommended for cooperation.

👍 Advantages

  • Clients’ deposits are kept separate from company funds: they are not available for use by a broker
  • Disputes are resolved by an independent agency
  • If the broker is unable to provide additional financial services due to circumstances, his clients get compensation

👎 Disadvantages

  • The trader's submission can be considered by the commission within 45 days

Withdrawal Options and Fees

  • Several withdrawal options are available: bank transfer, bank cards Visa and Mastercard. Withdrawals to electronic wallets Neteller, WebMoney are also available, as well as cryptocurrency wallets Bitcoin and Litecoin.

  • The term for crediting funds to the client's balance depends on the type of trading account and payment system chosen.

  • The company does not charge commission fees for withdrawals.

  • Withdrawal currencies: EUR, USD.

Customer Support Service

Information

Support service works 7 days a week.

👍 Advantages

  • Works 24/7
  • Multilingual support
  • There is a FAQs section on the website
  • You can ask a question even if you are not a client of a broker

👎 Disadvantages

  • Not very many means of connecting to the site
  • Sometimes support staff does not respond

There are several ways to contact customer support:

  • by phones, indicated on the website;

  • via email;

  • via online chat from your personal account.

Contacts

Registration address Dolphin Corp, First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines
Official site
Contacts

Review of the Personal Cabinet of Binomo

It is quite simple to start working with the Binomo broker:

1

Enter your Binomo account from the broker's home page. Just click "Login".

Binomo Review - Official Website
Binomo Review - Official Website the site
Binomo Review - Official Website
2

Enter your email address and password to enter the site.

Binomo Review - Authorization
Binomo Review - Authorization the site
3

If you have not yet opened an account, select the "Registration" button. A form will appear where you may specify your email address, password, and choose the account currency.

4

Register in Binomo through Facebook or Google social networks.

Binomo Review - Registration
Binomo Review - Registration
5

After registration and authorization, you can replenish your account and download and launch the terminal.

Verification with the provision of passport data is required to withdraw funds. This is a mandatory procedure that shall be carried out once. The verification process will be greatly simplified during subsequent transactions.

The personal account on the Binomo website includes the following sections:

  • "Trading" — a platform with a set of functions;

  • "Cashier" — a section for replenishing the balance and withdrawing assets;

  • "Help" contains information about the broker and services, instructions, training, tournaments, etc.

Worthy of separate attention is the "User Menu", where you can find the history of questions to your personal manager. Here you can change your password and link your account to a social network. When linking, the system will use the data.

The left sidebar partially duplicates the help section and provides access to the following items:

  • "Tournaments” are implemented in the form of a list from which you can choose a suitable option for participation;

  • "Shares" contains detailed descriptions of the shares provided by the company;

  • "Alerts" are messages from the broker. All notifications shall be kept here.

  • "Gifts" contains information on bonuses.

There is an online chat button for contacting support at the bottom of your personal account.

Tags:

Binomo Brokerage Company binomo Binomo

The Oldest Reviews of the Binomo

Positive reviews increase standing and, of course, any negative reviews decrease its position in the ratings.

Just register and get authorized to submit a review of the broker’s activities and conditions on its platform. Everyone can and is invited to submit a review. All reviews of Binomo published on the website in 2021 are verified and confirmed by Traders Union as reliable comments by real traders.

Binomo is the definition of a solid broker. I like MetaTrader5 which has numerous market indicators, an excellent charting toolkit, and even has customizable trading robots with which you can easily launch algorithmic trading sessions.

As a smartphone and tablet user, I spend the lion's share of my time in applications and use them for online shopping. And this is no coincidence since mobile applications are more convenient than mobile sites. Loading is faster, user preferences are saved, there is no need to download all content contained in the browser. Applications help to implement trading from anywhere in the world, are convenient for accessing the necessary data, and make it possible to trade while on the road at any time, from anywhere. There are tons of useful features here that can be easily accessed and the interface can be changed by rotating the screen. The company is licensed, traders can contact technical support, use analytics, and trade much more profitably.

Today many trading platforms are constantly improving and modernizing their functionality. For profitable trading, you should learn how to use the capabilities of the trading terminal as efficiently as possible. I’m a trading shark in this business so I know the ropes. The Binomo project, having a good experience in the market, takes into account all the needs of its clients and offers them several options for trading platforms to choose from. I am delighted with the MT5 terminal. Charting technology is more advanced. Combined with tools for managing trade orders, it is more convenient for speculators to control open positions. Besides, they have a demo account to test the waters. Trading on a demo is practically no different from real trading. All market quotes presented in the demo account correspond to their real values. You’ll have the opportunity to check the conditions offered by the broker for trading without fear of losing your funds.

I've been a belly-to-the-ground trader for more than 3 years. I’ve always looked for the top-notch broker with the best trading conditions. A demo account has been developed for novice traders who want to apply theoretical knowledge in practice and try their hand at trading. This type of account has practically retained all the functionality of the real one, but the main difference is that virtual money is used for trading, which means that the user does not lose anything. Thus, without your own investments, you can check the functionality of the platform, work out strategies and analytics to improve trading performance

I have been working with this broker for about three years. Several years of trading and there is not a single doubt that this company is the only right choice. Many major regulators of the brokerage industry have licensed this broker. There are several languages for customer support, so there are no problems with registrations, correspondence, and communication with the back office.

With so many brokers, it is a mammoth task to find the most reliable ones. Thank goodness I found Binomo two years ago. There is one more thing that can be considered an advantage - MetaTrader 5 trading platform that I’m obsessed with. MT5 is the latest update to the popular software that has been around for 15 years. It contains charts, trading tools, and everything else you need to successfully trade. I like this broker to the moon and back.

Binomo is one of the big fishes in the currency market. The site's SSL is encrypted to protect the traffic passing through it. The traffic and transactions performed on the site are controlled by Binomo. Whenever fraudulent activity occurs, the system detects it and prevents it. Their system keeps an eagle eye on security protocols and where there is a loophole, the system blocks it. The broker charges pretty low fees compared to other platforms that I’ve traded with. The fees they charge for transactions are pretty easy for a trader. I strongly recommend it.

I refrained from trading on most platforms because I was concerned about the security of my funds. The fear of losing my money was fixed in my mind and that overwhelmed me. It is almost impossible to calm people's concerns about this issue. Binomo has taken a lot of precautions to make sure there are no such cases on its platform. The broker tries its best to protect the funds of its clients. It uses two-factor verification to protect you from any form of hacking or attempts to access your account. Any unreasonable third-party access is prevented.

Author of this Review

Binomo broker’s review prepared by

John Davis

Traders Union Author and Analyst

John Davis is a Financial and Economic Analyst working with the Traders Union since 2016. During this time, he has written more than 100 analytical articles on technical and fundamental analysis, reviews of financial companies and has developed more than 10 proprietary trading systems. John's motto is to help everyone go from a novice to a professional trader.

All information posted on the Traders Union website is based on reliable and objective data. We have combined our 10 years’ experience in the financial sector and the feedback of our customers to provide you with a true picture of the best forex companies in the market. Detailed information about our methodology.

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FAQs

Do reviews by traders influence the Binomo rating?

Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about Binomo you need to go to the broker's profile.

How to leave a review about Binomo on the Traders Union website?

To leave a review about Binomo, register on the Traders Union website or you can also leave a review through Facebook.

Is it possible to leave a comment about Binomo on a non-Traders Union client?

Anyone can leave feedback about Binomo on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.

Why is it more profitable to work with Binomo through Traders Union?

Because you will receive additional payments from Traders Union every month while all other functions on your chosen trading platform remain the same.