Best Binary Options Broker 2020!
Free Trading Education!
Free Demo Account!
Perfect for Beginners!
2 place in the ranking!
7 Binary Options
The Basic Tools for Successful Binary Trading
Binary options are complex, exotic trade options, but these are particularly simple to utilize and understand the way they work. The most familiar type of binary option it the high-low option and it’s relatively simple to comprehend. This technique is also referred to as the fixed-return option and provides access to commodities and foreign exchange, indices and stocks.
Trading with binary options is easy, and you do not need any previous experience. Below are some basic guidelines that we have compiled to help you start trading in a few minutes.
- To be a successful binary options trader, you need to use more than one broker. Choose one or more from our compiled list of brokers.
- Register with your chosen trading platform and deposit money to start trading. The minimum deposit for some trading platforms or binary options robots is only $ 100.
- Select the asset to trade. Trading platforms have assets such as currencies, indices, commodities, and stocks. You can choose to trade in currencies, the popular one being EUR/USD.
- Decide on the amount to invest. When investing in an asset, you will see the payout or the returns for the asset, which can go up to 91%. Make your prediction on the movement of the price of the asset. If you predict the price of the asset to rise, select Call (up). If your prediction is that the price will fall, select Put (Down).
- When the trading closes after the given time, for example after 60 seconds, if it is a 60 seconds investment and you have made the correct prediction, then you win. An investment of $ 100 with a 90% payout means that you will have made 90 dollars in a few minutes.
Binomo is a simplified version of trading on the stock market. In trading binary options, the same data, assets and quotes are used as in traditional trading. You can start trading with a deposit of only $10, and transactions can be made starting at $1.
|Headquarters||Evagorou, 27, Irene Building, 4th Floot, Office 44, Trupiotis, Nicosia, 1066, Cyprus|
|Support Number||+441143033932 (UK), +23414408171 (Nigeria)|
|Support Types||Phone, Chat, Skype, Email|
|Languages||13 languages, including English|
|Trading Platform||Own development|
|Minimum 1st Deposit||$10|
|Minimum Trade Amount||$1|
|Bonus||Up to 100% deposit|
|Payout||Up to 90%|
|Free Demo Account||Open Demo|
|Regulation||Financial Commission, FMRRC|
|Account Types||Demo account, Standard, Gold, Vip|
|Deposit Methods||Credit and debit cards VISA/MasterCard, QIWI, e-payments, Alfa-Click, Neteller, mobile phone, PSB, WebMoney, Yandex Money, crypto-currency wallets|
|Withdrawal Methods||Credit and debit cards VISA/MasterCard, QIWI, e-payments, Alfa-Click, Neteller, mobile phone, PSB, WebMoney, Yandex Money, crypto-currency wallets|
|Number of Assets||50|
|Expiry Times||60 seconds to 1 hour|
|Types of Assets||Currency pairs, precious metals, crypto currency (Bitcoin BTC, Lightcoyin LTC, Crypto IDX), indices, raw materials, stocks|
|Option Types||Classic High/Low Options|
|Account Currency||USD, EUR, RUB|
|US Traders Allowed|
Binomo is a binary options company that stands out among many other options brokers. By offering a proprietary trading platform to its clients, loyal trading conditions, free training, and bonuses and gift options, the broker is able to be a good alternative when choosing a modern options platform with low minimums to start.
Terms of trade with Binomo
A perfect free training block, continues update of analytical materials and the number one is that this company can become the best choice for novices as it offers to them the lowest trade limit: minimal deposit of $5 and minimal transaction of $1. There is a free demo account available for novices, strategies proven by a good company of market players.
The company trading terms are ones of the top ones in the market. Everything is done here for a trader to sign up easily and start the real trading. The happy brokers customers praise the profitability of the platform, quick withdrawal, lots of offers, free signals. Due to the unique «Non-stop» mode you don’t need to wait for a transaction to be completed to start a new one, since the system lets you open several transactions simultaneously. Besides, the broker makes it possible, to earn from trading not in business days only, but also on weekends. The continuous implementation of advanced solutions to the service, emphasis on the safety of collaboration with the resource, the quality support – it is what made it possible for a young company, to leave the competitors behind. According to ratings of binaries brokers, Binomo keeps taking the top positions in the market outpacing the stronger projects. This is a modern and vibrant company setting big targets and achieving them.
You see already how to trade with Binomo to the effect that to keep getting income on a regular basis, don’t you? For the effective work the platform offers just up-to-date solutions, advantageous tariffs and training programs. The customers know how to win with Binomo more, don’t forget about numerous offers making trading more interesting and effective. Especially that the measurable benefit of this modern company is its offers. On Binomo official website you will find the ones of the most interesting and profitable offers. Why do you need a bonus at all? Binomo coupon – it’s special offers of the platform increasing the capital which may be used for trading, or depends on conditions, even withdrawn and spent the way you like. It’s a chance to earn real cash, get the trade experience.
Basic information about the Binomo broker:
- The company’s website – https://binomo.com,
- Place of registration – the Republic of Cyprus,
- Registration year – 2020,
- Regulatory body license – Financial Commission, FMRRC,
- The broker’s trading platform – a proprietary innovative design,
- Deposits – 10 USD,
- Volume of contracts – from 1 USD to 3,500 USD,
- Assets – metals, raw materials, stocks, currencies, cryptocurrency,
- Profitability – up to 90%,
- Auxiliary services: training, analytics, investment ideas,
- The demo platform – a 100% equivalent version of the real one,
- A mobile terminal – there is one,
- Withdrawals – 24 hours,
- Available payment services – QIWI, Neteller, Union Pay, mastercard, WebMoney, VISA.
Binary options training:
If you’re just starting to get acquainted with the options market, you won’t find a better broker than Binomo. On the company’s website, there is a large collection of material for beginner and professional training.
The theoretical part:
- An interactive guide for beginners,
- A knowledge base that contains the basic concepts of binary trading,
- Video lessons.
The practical part:
Best Binary Options Broker 2020!
Free Trading Education!
Free Demo Account!
Perfect for Beginners!
2 place in the ranking!
- Original trading strategies,
- Technical analysis,
- Fundamental reviews,
- Investment ideas.
One of the significant factors characterizing the broker is its support team. In this regard, the company is praiseworthy. Client support is provided by well-prepared, qualified personnel, capable of quickly finding solutions to any client problem. The support team works 24/5 and is always on the client’s side.
Binomo trading options is quite a solid step for a trader deciding for collaboration with the company, as they actually have the unlimited gain potential. But the key to success is a choice of a trading platform, and Binomo platform is exactly the one you shall pay your attention to: this is an advanced terminal with no analogues in the market, advantageous terms, useful service etc. Reliable regulation, rapid technical support, wide range of tools (shares, CFD, cryptocurrency trading) – all this speaks for the company gravitas, Binomo platform promising outlook and convenience (the feedback is real, withdrawal, bonuses below in our review).
On the own Binomo platform, which is considered to be the one of the best in the market, the most advanced technologies are implemented, professional tools are available, which help to undertake the complete analysis of assets dynamics, high order processing speed. This avoids the necessity of outside services application making the trading more comfortable. Moreover, apart from the advantages described above, Binomo lets traders withdraw the earned profit. The maximal withdrawal term is just 24 hours!
The company platform doesn’t need to be installed to your computer, is characterized by nice design, advanced features: change of chart design, expiration type, assets choice along with studying the information about them, adding indicators and widgets etc. It’s simple and easy or a customer to find out in the platform operation way, understand his options, then he can stake one at once and make a profit. The terminal is targeted both at a novice of the market and a professional trader, both will feel here comfortable enough. You can study at once the breaking news o the market, the analytics of the company staff, watch the quality webinars.
The platform has a unique design, color palette, and a variety of technical tools and technological solutions, namely the following:
- A user-friendly interface with easy navigation,
- The ability to change the display colors and styles,
- Scalable large-format quote charts, with the features of form change, the construction of asset quotes, and views of market history,
- A set of high-performance indicators,
- A selection of graphical tools for technical market analysis,
- The «majority opinion» statistical indicator,
- Highly accurate quotes of base assets,
- A convenient and effective range of expiry periods from 60 seconds to 24 hours,
- 50 base assets,
- Option types – binary and turbo,
- Non-stop trading mode,
- Speed of executing trade requests – up to 1.7 ms,
- The best format for displaying trading history.
The instrumentation and stable operation of the Binomo broker’s trading platform allow the user to implement any trading plan, build their own strategy, successfully manage capital, and, of course, earn!
And the thing options market beginners enjoy the most is the high-tech Binomo platform available in the demo version. So, it’s possible to try your hand at trading and test the company’s trading software without replenishing your account!
Binomo broker quotations
It’s crucial for a young and promising company to provide its customers with the proven and reliable service. So for the customers to have the up-to-date information about quotations available, Binomo cooperates with one of the most respectable liquidity suppliers of the market – Thomson Reuters. So traders can be sure that there are accurate data about the assets prices provided in the terminal, which are continuously updated. This information is common for all users, its change from the broker’s side is impossible.
Binomo demo account
The option of check out a broker’s service and of training trade in its terminal is long time considered to be a professionalism mark of the company, which is fair operating in the market. Binomo offers a free demo account for interested traders, too. This option lets players check out the terminal service, test strategies, complete transactions with virtual money without losing their own capital. The company terminal is its own development. To try trading here and estimate if it convenient is for you, you also should use the Binomo training account.
The demo account is termless, it gives you the real chance to understand in actual practice to what extent the broker is fair with its trader, how professional is its support service, how convenient and stable is the platform. Besides, all the capacities of a real account are available here, which a user works with after filling the account.
Binomo mobile application
One of the major trading platforms in the market offers to its customers a mobile application (iOS, Android), which lets you get the direct access to the system any time. Now the fully-fledged trading nonstop is possible. No matter where you are, as long as your smartphone with the mobile platform is with you. You can trade in the functional terminal, study the stakes history, fill the account, take part on tournaments and offers.
To set up the application to your mobile, press the multipurpose button below, which will automatically redirect you to the online-shop of your smartphone, where you can download the terminal for your operation system for free.
When first time registered by Binomo, you have the right for getting bonuses. Their amount may reach 100% of the filling sum. Such offers let you double your capital at once after you signed up in the system, with no risks for your deposit.
If you go for a Binomo bonus, you shall certainly study its use terms, as any platform has rules, is customers shall follow using the bonus offer. Please note that the company cares about the project marketing part. So there is a great amount of campaigns and special offers available on the platform. For example, Binomo bonuses are the additional options by the first account filling, these are the «megabonuses» – gift offers with a hefty money reward.
One more significant advantage of the company are numerous tournaments designed specifically for platform users, they let you not only check your intuition in use, but are also a good way to earn the proper capital with no risk for your deposit. The tournaments take place on the regular basis and provide a generous sum of the prize pool, may be both, requiring payment and free, some of them are held specifically for novice traders, others are focused on professionals. Before you try your hand in a tournament, read its participation conditions carefully. We assure you, the effective trading is possible only if you build up your familiarity with it in a proper way. If you got interested in the company capacities we described above, welcome to binomo.com! Taken to the website you will unveil a wealth of opportunities!
Deposit and withdrawal
A very good reliability sign of the company providing trading services is a strict payout discipline. The withdrawal with Binomo really happens within 24 hours. On the average, the money comes in 3-4 hours after withdrawal request to the indicated wallet! This impressive processing speed points to the fact that Binomo is very quick with payouts and will never «squirrel» your earned funds away. You know, it is very important at a time when a great number of other similar resources start «machinate» after the application execution, ingeniously inventing more and more excuses for you.
Well, Binomo let traders withdraw their earnings without any problems. It’s possible with payment cards VISA, UnionPay and MasterCard, services Alfa-Click, Neteller, QIWI, PSB, WebMoney, Yandex money, cryptowallets. Here we point that the minimal withdrawal sum starts from $10 and the company doesn’t take any fees for transactions, the customers save sizeable amounts due to this.
Complaints against Binomo
Our team studied carefully thematic forums and portals, with the information and feedback about Binomo. We noted a certain amount of the negative comments from customers, caused, as appeared, by technical problems on the company website while transferring it to a new trading platform and changing the bank where all deposits of users are kept. On the back of technical faults the public anger raised, which cooled down right after the service operation was put in order. It’s a tribute to the platform to create a perfect trading platform where it takes really just 24 hours to withdraw funds, so there is no rhyme or reason to consider that public anger as a shortcoming. Quite the contrary, the collaboration with Binomo became hugely more nice and more quality.
If we find complaints about Binomo, we will post it on social media. Follow us to be well informed:
As for the rest, the complaints against Binomo don’t exceed the threshold. And this speaks for the fact, that Binomo manages its aims and missions successfully, trading on its platform is gainful and comfortable.
Binomo broker regulation
Binomo submits to jurisdiction of FMRRC (№ RU 0395 AA Vv0120). It means the company is regulated by a serious agency performing audits of the company activity of the clarity and quality of its services, guaranteeing the security of all deposits of the customers. In case the financial issues with the platform happen you will take your funds back easily, this also speaks of its reliability.
Apart from this, the company is a member of the International financial commission («A» category) since May, 2020. This fact also makes it clear, that Binomo is a reliable project guaranteeing to users the high quality service, clear cooperation and protection of their funds by professional company.
Binomo «User agreement»
One of the essential documents, «User agreement» of a customer with the broker gives you a chance to check out the internet resource rules, aspects of transaction setting and withdrawal process, lets a trader study his rights and obligations. This information must be studied before you signed up with the platform to protect yourself from possible problems collaborating with the broker in the future.
In «User agreement» of Binomo you can find various materials, which make a trader think of many aspects. For example, in the paragraph about the nuances of quotations display in the terminal it is pointed that it is the only information source of assets price. At that the quotations can’t be true at a certain point as they are influenced by terminal stable connection with the company servers. The broker also does not guarantee that the transactions executed by these quotations at some point will be completed by the same price. It is not really convenient for traders counting on some profit while working in the market:
Or please note the fact that in case of disputes on transactions client-side proceeding the information on them happens based on the broker’s materials. At that, the complaints concerning the missed profit and a claim for compensation for the emotional distress are totally ignored by the company, this also complicates the interaction with it:
A customer confirms that the risks of trading may be essential – this is the fair paragraph published on the most broker platforms. However, cooperating with Binomo he automatically agrees also, that the company does not bear the responsibility in case of his losses happened due to force majeure and other circumstances. This information also makes the cooperation with the resource «shaky», as there may be a lot of such «circumstances», which may also result in significant losses:
Is Binomo a scam?
As of now Binomo is one of the most advanced and fast-paced trading platform in the options market, the broker received the FMRRC license, is committed with all the clauses of the customer agreement and its own trade terms. So saying Binomo is a scam would be the true aspersion on the fast-growth company.
Binomo company is worthy of separate attention of traders. It offers some of the most loyal trading terms in the options market, provides the perfect trading soft, access to free trainings and daily analytics. Besides, please note the rapid withdrawal of funds from Binomo platform, which will be transferred to you within 24 hours, – not every company can boast about! Needless to say the regulation of Binomo leaves a certain degree of confidence in it, along with the customers’ deposits coverage eliminating any risks in the market.
What can we say about the company as a whole? If you need a broker with good trading software, high profitability of options, achievable conditions to start trading, and free training – Binomo is the way to go. Focusing on high stock exchange standards, this company is loyal to all its clients. Whether you are an experienced trader with hundreds of thousands of dollars, or a novice trying to make money on binary options, Binomo provides all of the conditions for self-realization. And that is the most important thing that you can look for in an options company!
One final comment is that Binomo passed our careful audit relatively easy and is very worthy to join the ranks of those companies allowing you trade options without any problems and make a pretty penny out of it. Moreover, Binomo lets you all the earned profit without any problem, the company is regulated by FMRRC, has numerous positive comments from customers! Picking Binomo company for trading you obtain quality, stability, safety and innovations in one platform! These are the perfect advantages, which may be hardly found by majority of other similar trading platforms of the financial market.
Binomo is a scam. More, it is manage by estrange people. Customer service incompetent, a Sergey who doesn’t know that its company is fooling people. Once you jump from Demo to Real money, the platform becomes suddenly very slow. I meant, very! You place an order and it takes more than 20 sec. before your order appear. And it appear when you don’t want where it appears. Result, you lose money.
So contact Customer service, where people are rude, incompetent and when very approximate English. So you contact the famous Sergey! Ha! Sergey. This guy will tell you «yes, it’s not our fault, it;s the fault of another company». What? Another company? Which one? He will answer «another company….». That’s it! You lost money. Moreover, Sergey will recommend you something after losing money: «Stop trading…». OK stop trading, thank you.
After? After, if you want to withdraw money, they will do everything to fool you and to lose everything. EVERYTHING.
Scam? Mafia people suit them.
Video links will come soon.
Hello, Nikos! Please, tell us the ID number of your account. We remind you that your account has to be verified, so, please, send us the photo of your passport to [email protected] . We also kindly ask you to provide the screenshots of the deals you think were not closed correctly. Thank you and have a nice day !
What? You are deleting my reply? Binomo is deleting REPLY?
Come on people! You stole my money and you want my passport scan? Are you kidding?
Why, Binomo, do you, systematically remove my answer?
No, I will not have a nice day as you sole my money. You already have my passport scan. You already send me an email saying that you server had a problem. Did you reimburse me funds? No! I even couldn’t withdraw money. Scam you are, videos are published all over the net.
Why do you delete my posts? Why do you delete other posts? Why do you want my passport as you already got it? Why should I provide to you screenshot as I am talking about videos? How can we see you’re a scam company with screenshot? Nonsense..
Agree with Nikos.
Do not sign up with Binomo. Thief people. They will suck all your money with their very platform. No need to have techniques as it’s only casino. Technique requires on time trade which is not the case. Your trade now, they will take into account your trade in 20 seconds.
Dear Marcel, we don`t have a possibility to delete the comments. You can be sure that we never did it. If you still experience withdrawal issue, then, please, contact us via [email protected]
Hello. It seems that my previous comment was deleted by Binomo. So, if they delete, you understand which kind of people they are.
As said Nikos and other persons, do not sign with Binomo. They will take all your money with their very under performing platform and incompetent staff.
It appear that Binomo succeed to remove negative comments. I will answer from Nikos, as I had the same problem.
With Binomo, you have to provide you passport scan, Credit Card scan and other details, but you will never be able to withdraw your money and what ever you provide (such as shot screen), they will never reimburse you. Scam and mafia people they are.
Well…let’s say that Binomo it’s a scam. Just be careful as their platform is performing only with Demo account, When trading with real money, it’s juts Casino.
Their customer service is a band of thief, incompetent and they will do their best for you to lose patience, and money. They will NEVER allowed you to withdraw funds.
They have a guy, Sergey, who is suppose to help you. It’s a just a puppet,
Be carfeul! SCAM for sure
Videos are available on youtube in Englsih, Russian and Thai. to prove it.
Don’t put 1 cents on this option . Same apply to IQ Options.
Same companies….same mafia.
We feel sorry that you had a negative experience. Do you have a proof of incorrect platform functioning? Withdrawals are processed according to Client Agreement without any delays. What exact withdrawal issue did you had? We always consult on any issue of our clients and do our best to solve any of them. If it is still actual, please, contact our support department via [email protected]
This was the worst broker I have ever dealt with.
They have a BAD support, where the employers doesn’t even speak a good english and send over and over again the SAME answer on almost all emails.
After 6 months trading with them (The only reason was their good payout during 21-22gmt) they blocked my account and from a few of friends for no reason.
First, they requested me a video conference (after 6 months using the broker with all documents OK). So I did it via SKYPE.
They said I should receive an email from the Security Departament.
In the next day, nothing happens, then I sent an email again and they said I have to wait 90 days to receive a message from their departament. In the meanwhile, I have not acess to my account or even can withdrawl my funds.
I consider this as a theft.
As I said in the begin, their support is the worst ever, so I will never get my money again. I have friends who loose over 6.000, some 3.000usd each one. Stay away from this broker.
Binomo send withdrawl on wornge address 3pavoApa2a4eSkikTEm9niH3pDTT8HKdBU
binomo mistake its not gvie me withdrawl my address 39guhXURRhDxaFq4n12xKV9xkd7DkTQwBH i lost 18 usd now when binomo give me return
Hello To All, Binomo is a platform for all, its is easy to use and trustworthy too. It is pretty convenient to trade using the Binomo platform. Well, I am no expert in trading though, however I did it very well as Binomo provides support at every step. You can call them anytime. This makes trading risk free, as you get support from the professional team.
It is a good platform. It is relatively easy to use as well. The best way to make money using Binomo is first, to practice, and second to remain updated. Be a vocal part of networks, forums, Facebook groups etc to keep knowing about the latest happenings in the field. The amazing resources provided by the platfrom make it very easy to use!
Hello, A surpsisingly easy to use platform. I love using Binomo as it has a seamless interface. The website has detailed instructions on how to use it. It has a great 24/7 customer service as well, which helps make the tasks easy.
Binomo provides seamless trading facilities. You go to their website, and the interface will guide you take further steps. If you are still not able to use it, you can call their customer support which is present 24*7 for assistance.
Binomo is a good platform as per me. I am based out of India and it is a new entry here. I would recommend this to people who want to start off. It is definitely now a cam as I have not lost any money.
Thanks for sharing your experience
Wish you good luck
As per my knowledge there are mixed reviews about all trading platforms. Some people claim it to be scam and some are genuinely an expert in trading. I have recently started with BINOMO and with a great experience i can say that it’s not a scam at all.
I have been trading on binomo from last 6 month and earn lots of money by following RSI Chart. I have withdraw my money from binomo without any problem. what i’m suggesting to people , before playing any you need to learn first and binomo provides such kind platform where you can open account with Demo Balance of RS.65000 and learn by trading and then enter int he real world. thanks
While trading on binomo, One thing i noticed that whenever you please position either UP or DOWN, they go in binomo favors but it’s not always as i have earned many times so be very careful while trading .
I have absolutely no complaints about the work of this broker. I started working with him for a long time, and in principle, all the results are completely satisfied — the broker is convenient, and profit is still pretty good.
I really liked this broker. According to the results of my work, I have only positive feedback – everything works without problems. I think this company is quite a good method of earning. recommend other to use and trade
Binomo Online Binary Options Broker Review
What is Binomo?
Binomo is an online option trading broker that started operations in 2020. The broker is a subsidiary of the Dolphin Corp and is headquartered in the St.Vincent and the Grenadines under registration number 25151 IBC 2020.
with has there office located on the First Floor of First St Vincent Bank Ltd Building, James Street, Kingstown, St.Vincent and the Grenadines
Also, they work with a payment agent to secures there banking: Pollack Trade LTD (a company registered in accordance with the legislation of the Republic of Bulgaria, whose office is located at Georgi Sava Rakovski St. 96, Sredets Region, Sofia Municipality, Sofia 1000)
The platform provides contact customer support by Email [email protected]
Currently, this broker is only regulated by the International Financial Markets Relations Regulations Center (IFMRRC). The organization describes itself as a non-commercial body created to regulate services provided by brokers, dealers and other financial and investment institutions.
Binomo Platform guide:
Is Binomo a scam or legit online options broker?
One of the key features I look at when deciding whether a broker is legit or not is if they’re fully regulated by a reputable authority. As I mentioned, Binomo is regulated by the IFMRRC. I usually place preference to brokers who hold certificates from reputable authorities like CySEC, ASIC and FCA.
After combing through the Binomo website, I found that they have a pending CySEC and CPO regulation. Although it’s a good indicator about how serious the broker is about attracting traders from different parts of the globe, I’d advise traders to wait until they’re fully regulated by CySEC.
However, if you still want to try out the platform, you can take advantage of their low $10 minimum account deposit to start trading. This will enable you to try out the platform without risking a lot of money.
Trader Notice: You can safeguard your investment by trading only with a fully regulated broker. We have found 2 regulated brokers you might be interested in. Start trading with a reputable broker now!
General Risk Warning! your capital may be at risk
What makes Binomo stand out?
The Binomo platform is quite unique and offers several trader friendly features. One feature that really stands out is the ‘hotkey’ option. Once enabled, you can quickly issue commands such as increase/decrease investment amount and execute trades without using a computer mouse. The platform also provides many charts and technical analysis tools. This makes it easy to customize your trading interface to suit your trading preferences.
Does Binomo have any major shortcomings?
Every trader wants to have control over their investment. Binomo has a clause in their terms and conditions that seems to limit this control. According to the clause, you will have 10% deducted from your funds should you decide to withdraw before your trade turnover reaches at least twice the deposited amount.
For example, say you deposit $100 and decide to withdraw the whole amount before making trades worth $200 or more. Binomo will deduct 10% ($10) from your funds.
Should you open a Binomo trading account?
This online broker offers a demo trading account credited with $1000. This is a good place to get started in order to get a feel of the platform. You’ll only need a valid email account to open a demo account. In addition, you can easily replenish the demo account funds if necessary.
But, what does a real Binomo trading account offer?
The platform comes with a well-designed trader interface. It isn’t cluttered with a lot of features which is a great thing especially for beginner traders. Besides being able to trade directly from your browser, you can also access the Binomo platform via Android or iOS app.
Besides the demo account, there are three other account types to choose from as follows:
1. Binomo Standard Account
To open a standard account, you’ll only need a deposit of $10. Profitable trades provide a return of 85%. Withdrawals are processed within 3 working days.
2. Binomo Gold Account
The minimum deposit to open a gold account is $500. Gold account holders earn returns of up to 86% on profitable trades. This account type also attracts a weekly cashback of up to 5% and withdrawals processing of within 24 hours. Other benefits include a personal manager and advisory services.
3. Binomo VIP Account
The minimum amount needed to open a Binomo VIP account is $1000. You can receive up to 100% bonus once you open a VIP account. Returns on successful trades can reach 97% and withdrawals are processed within 4 hours. VIP account holders are also eligible for a 10% weekly cashback and other additional features not available to Standard and Gold accounts. It’s worth noting that each of these live accounts attracts a signup bonus. Bonuses are also offered to existing account holders from time to time. Binomo offers a range of tradable assets to choose from. These include currency pairs, commodities, stocks and cryptocurrencies. The number of assets you have access to largely depends on the account type you sign up for with VIP account holders having access to the widest range.
There are two option types to choose from. The turbo option allows you to enter and exit trades within a 60-second time frame. The classical high/low option on the other hand offers multiple expiry periods of 15, 30 and 60 minutes respectively.
You’re not tied down to the expiry you set at trade entry. The platform allows you to choose sequential 1 minute expiry periods of up to 6 minutes.
For example, if you enter a trade at 12.36 pm, you can set expiries of 12.37, 12.38, 12.39, 12.40, 12.41 and 12.42. There’s no limit to the number of positions you can enter at any given time. This makes it easier to maximize profits within a specific time period. You can also trade during weekends.
In order to be able to follow price trends easily, the platform’s chart can be divided up into several time frames ranging between 5 seconds and 5 minutes. By rolling your mouse wheel, you can zoom the chart in and out.
The platform also offers a wide range of technical analysis tools that allow you to keep track of trends in real time. Binomo also offers the ‘hotkeys’ tool which is unique across the online options brokers I’ve tried out. What this tool does is activate keyboard shortcuts to common commands you issue while trading.
This way, you won’t have to rely on clicking on your mouse when issuing commands thus saving time. I would however recommend you first memorize the different hotkeys using your demo account before trying them with a live account.
If you’re just getting started as a trader, Binomo provides a collection of tutorials to get you on track. These include video tutorials, a detailed knowledge base, and strategies section. Their FAQ section however isn’t as detailed as you’d expect with any online options broker.
The minimum amount you can invest in a trade is $1. The platform accepts several payment methods that include credit/debit card, QIWI, Neteller and WebMoney. Withdrawals are made to any of these payment systems. The broker doesn’t charge any withdrawal fees unless you want to withdraw funds before trading an amount at least twice your last deposit.
Binomo also regularly offers tournaments which make it easy to earn money outside your normal trades.
So what’s my opinion regarding whether you should open a Binomo account or not?
I believe the platform has made an effort to stand out as a legit online options broker. I’m a bit reserved when it comes to brokers regulated by the IFMRRC only. Their requirement that you have a trade turnover exceeding twice your deposit amount before withdrawing is also something they need to work on.
However, given that you can deposit $10 and trade with as little as $1 I consider Binomo worth trying out. But before making my final conclusion, it’s best I consider existing trader complaints as well as a breakdown of how I rate different Binomo features. General Risk Warning! your capital may be at risk
Binomo trader complaints
Due to the IFMRRC regulation, it’s safe to say that Binomo primarily targets traders from Russia and other Asian countries. This could explain why I couldn’t find any complaints from traders in Europe or Australia (Binomo doesn’t accept traders from the US).
However, I did come across a YouTube video. In it, the trader complains about not being able to withdraw profits that were tied to bonuses. This is a typical complaint I’ve come across with regard to brokers that offer bonuses to new traders. I usually advise that you first read the fine print explaining the intricacies tied to profits earned from bonuses.
How do I rate different Binomo features?
As usual, I always try to compare different online brokers based on the different features they have to offer. So based on a rating of 20, here’s my breakdown of Binomo’s features.
User friendliness and accessibility
The Binomo platform is well designed. The trading interface isn’t cluttered with many features which often negatively affect usability. The ‘hotkeys’ option also makes it easy to issue different commands using your keyboard. Opening a demo account requires only your email address. The platform is also easily accessible via browser and mobile apps. The 14 language options also make it easy for traders around the globe to access the platform.
There are 3 real account types to choose from. The Standard account makes it easy to try out the platform without investing more than $10. Each account comes with its own unique features. However, Gold and VIP accounts offer more goodies including faster withdrawals, access to more assets and better support.
Number of Assets
There are about 80 different assets to choose from. These include currency pairs, commodities, indices and cryptocurrencies.
However, the number of assets you can trade in is limited based on the account type you hold. To access more assets, you’ll need to open a Gold or VIP account meaning you’ll need to invest more of your money.
Option types and expiry periods
You can choose between turbo options and classic high/low options. The former has expiry periods ranging between 1 second and 5 minutes. The latter has expiry periods of between 15 and 60 minutes. You can also enter multiple trades at a time.
Getting started with the platform is quite easy. However, the amount of support you receive thereafter could use some improvements. Their phone support is available for 4 hours. You could still contact support through email,live chat and Skype.
Fees and effective return
Binomo doesn’t charge fees on trades executed. However, you can have 10% deducted if you decide to make a withdrawal before executing trades of at least twice your last deposited amount. Profitable trades can earn up to 87% effective return. This is considerably lower compared to other brokers who offer returns of up to 95%.
Deposits, withdrawals and bonuses
The platform accepts several payment methods including debit/credit card, Neteller, QIWI, Yandex and WebMoney. Withdrawals processing will take anything between 4 hours and 3 working days depending on your account type. Binomo also offers bonuses on deposits which can be up to 100% for VIP accounts. The turnover cap on bonuses ranges between 30 and 40 times the bonus amount. trading in Russia? We’ve found a highly rated fully regulated broker for you. Start trading with Olymp Trade now!
Binomo provides the ‘hotkeys’ feature which I found to be unique, useful and time-saving. The ability to replenish your demo account is another feature I found useful especially for new traders learning how to use the platform. Another noteworthy extra is the different tournaments offered to traders. This allows you to earn extra money outside normal trading.
Binomo is a decent online trading platform. It comes with all the features you’d expect from a broker trying to attract traders from across the globe. The platform is well designed and offers many trader friendly features.
However, there are several shortcomings that cannot be overlooked. First is the regulation issue. Being regulated by the IFMRRC only locks out many traders especially from European countries.
Their phone support could use additional live hours. The 10% fee on withdrawals made before a certain turnover is achieved is another shortcoming worth considering before investing with this broker.
Overall, I wouldn’t rate Binomo very highly. If you’re looking for a highly rated and fully regulated options broker we’ve got the right one for you. Simply click here.
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