Binomo vs BitMEX

Binomo vs BitMEX Comparison Table 2023
Binomo BitMEX
3.4
3.2
United States Flag Traders from US not accepted
United States Flag Traders from US not accepted

Binomo is a beginner-friendly binary options broker that offers trading on forex, stocks and indices via high/low binary options on a simple web-based platform with payouts up to 90% and reliable service. The firm was launched in 2012 and is based offshore.

BitMEX is a crypto exchange and derivatives trading platform, launched in 2014, that offers low fees and starting deposit for a fiat–crypto onramp, spot trading, and crypto derivatives including perpetual contracts, traditional futures and quanto futures. BitMEX offers amongst the largest market liquidity of any cryptocurrency exchange.

Bonus Offer
Fee reduction for BMEX token holders
Comment by Reviewer
"Traders who enjoy straightforward, fast-paced trading on forex and stocks should check out Binomo's short-term binary options. The intuitive platform and joining requirements make the brand particularly attractive for newer traders." "Active traders who want access to a good range of crypto derivatives will be intrigued by BitMEX's offering. The 100x leverage on Bitcoin is also higher than many alternatives."
Pros
  • Custom-designed platform that works quickly on mobile devices
  • Demo account available to all with no restrictions
  • Low minimum trade value from $1
  • Competitive payouts up to 90%
  • Thousands of daily traders
  • Low minimum deposit of $10
  • Clear tiered account system
  • Great customizability using widgets within the platform, making it easier to see exactly what you want
  • A platform solely designed for crypto makes it more streamlined than multi-asset terminals
  • Access to a considerable amount of information directly from BitMEX, freely available on their site
  • The opportunity to talk to investors from all over the world using the inbuilt chat functionality
  • High levels of security, ensuring that trading on the exchange is relatively secure 24/7
  • A range of different cryptocurrencies are available, including Bitcoin, Ethereum and Litecoin
  • Earn interest on HODL-ing tokens – Tether and Bitcoin
  • Highly leveraged crypto trading with rates up to 1:100
  • Insurance fund to avoid liquidation plus python API
Cons
  • Contract expiry times of 1 minute to 1 hour are very short term for many traders
  • Limited extra features with no copy trading
  • Small selection of tradeable instruments
  • Weak regulatory oversight
  • BitMEX is focused on active traders, with fewer tools and features aimed at crypto newbies
  • The interface is not as new, stylish or innovative as other options on the market
  • Withdrawals are only carried out at a set time of day
  • Legal dispute with US regulators resulted in fines
  • Only Bitcoin is accepted for free withdrawals
  • Range of crypto assets not as wide as rivals'
Instruments
Fixed Time Trades Crypto
Demo Account
Yes Yes
Minimum Deposit
$10 $0.01
Trading Platforms
  • Own
  • AlgoTrader
  • TradingView
Payment Methods
Minimum Trade
$1 Variable
Regulator
Republic of Seychelles
Margin Trading
No Yes
STP Account
No No
ECN Account
No No
DMA Account
No No
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
No No
Market Maker
No Yes
P2P Trading
No Yes
Spot Trading
No Yes
Mobile Apps
iOS and Android iOS & Android
Auto Trading
BinomoBot tracks 12 moving and 5 technical indicators and can be set up in than 3 minutes. BitMEX Market Maker, BotVS, and via API
Copy Trading
No No
Social Trading
No Yes
Trade Signals
Yes
VPS Hosting
No No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$30
Islamic Account
No No
Account Currencies
  • USD
  • EUR
Stock Exchanges
Commodities
Forex Trading
Binomo offers a competitive suit of currencies from majors like EUR/USD to exotics like EUR/MXN. But with contracts spanning 1 minute to 1 hour, the broker is best for short-term forex binary options traders. Forex trading not offered
GBPUSD Spread
N/A
EURUSD Spread
N/A
EURGBP Spread
N/A
Assets
19
Cryptocurrency
Binomo offers 24/7 fixed time trades on a few major cryptos, including Bitcoin. However this is significantly less than alternatives like Focus Option which offers more than 80 digital tokens. BitMEX offer the largest liquidity crypto trading environment anywhere. Contracts start from just $1. The firm is also compliant with global AML guidance and the platform offers cutting-edge crypto exchange and hedging.
Spread
N/A -0.01% maker, 0.075% taker
Coins
  • BTC
  • LTC
  • BCH
  • ADA
  • BCH
  • BTC
  • ETH
  • LTC
  • XRP
  • TRON
  • EOS
  • XMR
  • ADA
  • DOGE
  • BNB
  • DOT
  • SOL
  • SHIB
  • AVAX
  • GAL
  • NEAR
  • SUSHI
  • AXS
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No Yes
Auto Market Maker
No Yes
Binary Options
Binomo offers binary options trading around the clock, including the weekends. You can speculate on the short-term price movements of popular markets, from stocks to currencies. Payouts are competitive climbing to 90% and contracts start from just 1 minute. Binary options trading not offered
Payout
90%
Expiry Times
1 minute - 60 minutes
Ladder Options
No No
Boundary Options
Yes No
More Comparisons
Binomo
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BitMEX
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