According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $10
- Binomo
- Non-stop mode allows you to open the next position without waiting for the previous one to close. There is trade on weekends
Our Evaluation of Binomo
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Binomo is a moderate-risk broker with the TU Overall Score of 5.1 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Binomo clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.
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.
Brief Look at Binomo
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.
- 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.
- 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.
TU Expert Advice
Financial expert and analyst at Traders Union
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.
- You are a beginner interested in trying binary options with a limited risk demo account. Binomo offers a generous demo account with virtual funds so you can experiment without risking real money.
- You are comfortable with a user-friendly platform. Binomo has a simple and intuitive interface, making it easy for beginners to navigate.
- You are seeking a heavily regulated broker. Binomo is not regulated by major financial authorities in the United States, Canada, and several other countries.
- You are aiming for long-term wealth building. Binary options are designed for short-term speculation, not long-term investments. If your goal is to build wealth over the long term, binary options trading may not align with your investment strategy.
Binomo Summary
Your capital is at risk. CFDs are considered complex derivatives and may not be suitable for retail clients. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. The products mentioned here may be affected by changes in currency exchange rates. If you invest in these products, you may lose some or all of your investment, and the value of your investment may fluctuate. You should never invest money that you cannot afford to lose and never trade with borrowed money.
| 💻 Trading platform: | Binomo |
|---|---|
| 📊 Account types: | Free, Standard, Gold, VIP |
| 💰 Account currency: | USD, EUR |
| 💵 Deposit / Withdrawal: | VISA/MasterCard, Neteller, WebMoney, Perfect Money, PSB, Payeer, cryptocurrency wallets, Bitcoin, and Litecoin |
| 🚀 Minimum deposit: | $10 |
| 📈️ 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 |
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 $10.
Binomo Key Parameters Evaluation
Video Review of Binomo
Share your experience
- Best
- Last
- Oldest
Trading Account Opening
It is quite simple to start working with the Binomo broker:
Enter your Binomo account from the broker's home page. Just click "Login".
Enter your email address and password to enter the site.
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.
Register in Binomo through Facebook or Google social networks.
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.
Regulation and safety
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
Commissions and fees
| 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 |
|---|---|---|
|
$2 | |
|
$5 |
Account types
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:
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.
Deposit and withdrawal
-
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.
Investment Options
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 vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal 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.
Customer support
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
| Foundation date | 2014 |
|---|---|
| Registration address | Dolphin Corp, First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines |
| Official site | binomo.com |
| Contacts |
+18499366003
|
Education
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.
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.
Comparison of Binomo with other Brokers
| Binomo | Pocket Option | Binarium | Binary.com | Binarycent | Raceoption | |
| Trading platform |
Browser platform | MT5, Web, Mobile | Binarium | Deriv Trader, MT5 | Webterminal | Raceoption (Mobile), WebTrader |
| Min deposit | $10 | $5 | $5 | $5 | $250 | $10 |
| Trading instruments |
indexes, stock, currency pairs / CFD, goods | currency | indexes, Currencies, Cryptocurrencies | indexes, Forex, goods, stock, random index | currency | Stocks, Commodities, Crypto, Options, currency pairs / CFD, Currencies |
| Signals | Yes | No | No | No | No | Yes |
| Analytical support |
Yes | No | No | Yes | No | Yes |
| Training | Yes | No | No | Yes | No | Yes |
| Additional tools |
No | Copy Trading tool | No | premature closing | Chat support, Copy Trading tool | Copy Trading tool |
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 $10, 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:
functional web-terminal supporting two options types;
wide range of trading tools: currencies, stocks, indices, contracts (classic and minute), commodity and cryptocurrencies
quick withdrawal of funds.
access to a unique non-stop trading mode that allows you to open several positions at the same time;
personal analytical support, an expanded set of tools and personalized offers for Gold and VIP accounts, such as deposit insurance, 10% cashback of costs;
responsive support service that operates twenty-four/seven;
15 indicators and over 25 tools for drawing on the charts;
you can work even on weekends;
quotes from the world's leading news agencies;
technical analysis of the market in a browser;
regular contests and tournaments with substantial prize pools;
effective training using video tutorials, articles, and demo accounts.
Latest Binomo News
Articles that may help you
Check out our reviews of other companies as well
User Satisfaction i