Binomo Review and Tutorial 2021
United States not accepted.
Go to the Brokers List for alternatives
|Binomo Facts & Figures|
Leading Binary Options and Digital Options platform, offering high payouts, quick trading and a reliable service.
|Pay Methods||Perfect Money, QIWI, Skrill, Yandex Money|
|Mobile Apps||iOS and Android|
Binomo is an online broker best known for their commitment to low trade requirements as well as a range of other advantageous features for new and veteran traders alike. This review covers all the details of the service Binomo provides, from the trading platform itself to trading mobile apps, demo accounts and account types. Read on to find out more about whether this service is the best pick for you.
Originating in 2014, Binomo has been a highly targeted service specifically aimed at short term traders.
The platform also offers cryptocurrency, forex and CFD trading in some form, but this isn’t the overall focus of the broker as a whole.
The broker is currently operating as an unregulated service, though they are a member of FinaCom and are presently working towards licensing under CySEC. Currently, they are rated as ‘Category A’ under the IFC, lending them additional credibility to potential traders.
The Binomo trading platform is designed to be as practical, easy to use and convenient as possible for trading.
On initial release, the company made use of SpotOption as their platform of choice. However, since then, the company has moved from ‘out the box’ solutions towards their own, practical design that meets the needs of its customers.
Developed to include a range of on-point features for traders, the current iteration of Binomo is anything but generic.
Efficiency and practicality are vital points for the broker, as well as offering competitive features to their trading customers such as daily tournaments.
These competitions are increasing in popularity for many online brokers, and Binomo is ahead of the curve when it comes to offering a practical, mobile-reactive and innovative platform that does it all for their specific customer base.
Binomo is host to more than 40 distinct assets that can be openly traded by traders signed up to their platform. These assets include a range of different markets and options, to provide trades with as much range and flexibility as possible.
Ideal for traders that don’t like to stick to one specific area of trade for too long, and instead prefer to mix things up.
Binomo specialises in high/low trading, which means it isn’t much available in terms of other contracts. But this limitation is easily overcome with the variety of options on offer – an enticing feature to many traders.
Binomo supports the trading of the following assets:
- Currency pairings (GBP/USD for example)
- Leading stocks
With such a variety of assets and choices on offer to traders, it’s no surprise that Binomo continues to be a popular service for traders of all shapes and styles.
This is especially the case with more specialised assets, such as stocks, which may not be available from other similarly placed platforms.
Trading via mobile is bigger and better than ever, and Binomo has firmly leapt on that trend by offering an entirely smartphone-accessible platform.
Also available through tablets, the Binomo mobile app is available for both Android users and those that prefer iOS.
Push notifications are utilised as a clever way to keep traders in the look on anything from their current trades to upcoming competitions.
While some brokers offer reduced functionality in the app version of their platforms, Binomo’s offering is fully functional. Anything you can do on your desktop, you can also do from your smartphone. You could even ditch the desktop altogether if your preference is trading on-the-go.
Binomo is one of an increasing number of traders offering options and versatility, which is a plus point for the service in general.
If you’re looking for a platform that offers easy and convenient payment, then Binomo has the advantage.
Because the broker offers their services to a varied and international base of customers, it means there’s far more choice depending on your location. Both MasterCard and VISA are supported, with additional options available based on your region and area.
For those starting small, the minimum deposit you can make is $10 – making Binomo fully accessible for traders of all sizes and scopes.
As with all the best online brokers, Binomo provides a complete and fully-functional demo account for potential customers to try out.
All you need to do to access the demo site is provide an email, and you’ll then be set up with $1000 in virtual cash to play around with. While some platforms offer a scaled-down option for their demo accounts, Binomo doesn’t hold back on their offering.
It’s possible to get a real feel for all the features of the platform, without ever spending a penny.
Deals and Promotions
Binomo is well-known for the range of promotions and deals they offer throughout the year. These include some of the classics, such as percentage top-ups on deposits, as well as some great sign-up bonuses.
These deals can change over time, so it’s best to keep tabs to find something that’s suited to your trading style.
In addition to the sign-up promotions and other deposit bonuses, traders that deposit $500 into their account will also be able to access a higher level of support and training through an assigned manager.
Regulation and Licensing
Binomo is currently considered unregulated in the brokerage industry. However, the company is now actively working towards gaining CySEC licensing as well as maintaining a Category A grade through the IFC.
The broker also holds certain certifications to operate in specific countries, though these additional requirements aren’t listed on their website.
Streamlined, easy to use and practical to navigate, Binomo has provided a simple platform that’s still full of great features for traders to use and implement. These include a range of different high-end analytical tools, as well as an integrated calendar and the tournaments feature.
The focus on the broker is one producing quality features that aid their traders, which means each new addition is solid, well-tested and bug-free on launch.
Three tiers of accounts are offered for traders using Binomo.
As with many online brokers, these different accounts are specified based on the amount of funding you put into the platform. This means there’s no additional cost or specific programme membership required to increase your tier – all you need to do is increase the amount you deposit to change your account type over time.
The account types that Binomo offers are as follows:
- Standard: offers basic access to the Binomo platform and tournaments feature with a $10 minimum deposit
- Gold: offers access to strategy guides, faster withdrawals and management with a $500 minimum deposit, and maintained balance.
- VIP: offers access to all privilege on the Binomo platform with a $1000 minimum balance.
Binomo makes it clear that even standard-tier traders gain access to everything they need to trade easily and effectively. The bonuses provided to higher-tier customers may be beneficial, but they certainly aren’t essential to get all you can out of the platform.
If you’re a trader that’s considering a short term trading platform, Binomo might be the broker for you. Here are just a few of the reasons why you might want to make this broker your trading platform of choice:
- Accessible and fully functional demo account
- Clear and easy to achieve tiering account system
- Only $10 required to start trading
- Custom-designed platform that works easily on mobile devices
- Plenty of additional features and add-ons
While there are plenty of positives to picking Binomo over other online trading platforms, there are also a few downsides to this specific broker. Here are a few reasons why you might want to think twice before you make your final decision:
- Currently unregulated until CySEC licensing is achieved
- Limitations on popular trading area such as cryptocurrency
- No offline desktop software – online access only
- Social trading and similar social features are not integrated into the Binomo platform
As an international online trading platform, Binomo has round-the-clock availability for their trading services – perfect for night owls or those in different time zones. When it comes to some features, such as competitions and tournaments, specific time slots may apply.
Contact Details and Customer Support
Binomo readily offers support to their customers through several different methods, the most popular of which is live chat.
Live support is available directly through the Binomo platform, which means traders don’t even need to open a new window to chat through queries and problems with the support team.
A backup email support service is also provided, which responds typically within 24 hours: firstname.lastname@example.org
Finally, traders can get in touch with Binomo directly through their address:
First Floor, First St. Vincent Bank Ltd
St. Vincent and the Grenadines
Safety and Security
Security and safety is a top concern for Binomo as an online trading platform that operates across multiple countries. By creating their own secure platform with full encryption, the broker has established a high level of safety for their customers.
This is combined with safe and approved payment methods for withdrawals and deposits, further increasing the security of traders.
Binomo’s policy states that any customer funds up to the value of $20,000 are protected against fraud when using their platform, and they use up-to-date SSL encryption to boost their security even further.
With hacking more common than ever for online trading platforms, it’s crucial to be able to trust your chosen broker from day one.
What do we think of Binomo? As a trading platform, Binomo has all the features needed to support traders – both new and veteran.
Their lack of fees and commission is also highly attractive to potential customers, especially when combined with a streamlined and user-focused platform design. If you’re looking to get into trading, and you’re unbothered about the lack of crypto on offer, then Binomo might be a safe bet for you.
Once certification under CySEC is complete, Binomo will be a better prospect than ever. Not to mention well worth investigating.
Binomo accepts traders from Thailand, South Africa, India, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders can not use Binomo 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.
|Leading Binary Options and Digital Options platform, offering high payouts, quick trading and a reliable service.|
Binomo vs Other Brokers
- Binomo vs Plus500
- eXcentral vs Binomo
- Binomo vs Grand Capital
- Binomo vs Alvexo
- FXOpen vs Binomo
- Binomo vs Alpho
- Binomo vs XTrade
- XM vs Binomo
- Binomo vs Avatrade
- Axiory vs Binomo
- Binomo vs 101investing
- PrimeXBT vs Binomo
- Binomo vs AAAFx
- Binomo vs Tickmill
- Binomo vs Pepperstone
- Binomo vs JustForex
- Binomo vs Robinhood
- Expert Option vs Binomo
- Quotex vs Binomo
- Binomo vs 12Trader
- Binomo vs EagleFX
- VantageFX vs Binomo
- Binomo vs IQ Option
- Lightspeed Trading vs Binomo
- Deriv.com vs Binomo
- XGlobal Markets vs Binomo
- Degiro vs Binomo
- Binomo vs AskoBID
- Binomo vs BP Prime
- OctaFX vs Binomo
- Capital.com vs Binomo
- Binomo vs Olymp Trade
- Forex.com vs Binomo
- Videforex vs Binomo
- Binomo vs Colmex Pro
- Binomo vs Binary.com
- HighLow vs Binomo