Binomo vs eToro

Binomo vs eToro Comparison Table 2024
Binomo eToro
3.4
4.1

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.

eToro is a top-rated multi-asset platform which offers trading services in thousands of CFDs, stocks and cryptoassets. Launched in 2007, the brand has millions of active traders globally and is authorized by tier one regulators, including the FCA and CySEC. The brand is particularly popular for its comprehensive social trading platform. Cryptoasset investing is highly volatile and unregulated in the UK and some EU countries. No consumer protection. Tax on profits may apply. 76% of retail accounts lose money.

Customer Reviews
4
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." "eToro's social trading platform leads the pack with a terrific user experience and active community chat that can help beginners find opportunities. There are also competitive fees on thousands of CFDs and real stocks, plus excellent rewards for experienced strategy providers."
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
  • The copy trading app facilitates a best-in-class social environment, with an engaging social feed and community chat
  • The broker's services are great for beginners, with commission-free stock trading, a low minimum deposit and an unlimited demo
  • Charts are powered by TradingView and offer strong technical analysis features, including 9 chart types and over 100 indicators
  • There's a comprehensive online training academy with accessible resources, from bitesize articles to comprehensive courses
  • eToro has bolstered its investment offering, most recently with new crypto assets, now offering over 90 digital currencies
  • The web platform and mobile app perform better in user reviews and app rankings than top competitors, including AvaTrade
  • Top copy traders can receive annual payments up to 1.5% of assets under copy in the broker's Popular Investor Program
  • Exciting investment portfolios are available covering traditional market trends as well as tech, crypto and more
  • eToro is a world-renowned brand with top-tier global regulation and a 25M+ user community
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
  • The lack of additional charting platforms like MT4 will reduce the appeal for seasoned day traders accustomed to using third-party software
  • There are no guaranteed stop loss orders which would be a useful risk management feature for beginners
  • There is a $30 minimum withdrawal amount and a $5 fee, which will affect novices with low capital
  • Traders will face currency conversion fees for account denominations other than USD
  • There are limited contact methods aside from the in-platform live chat
Awards
  • Best Cryptocurrency Trading Platform 2022 - Finder
  • Education Materials/Program 2022 - Investment Trends
  • Best Copy Trading Platform 2021 - Ultimate Fintech Awards
  • Best Multi-Asset Trading Platform 2021 - Ultimate Fintech Awards
  • Best Stockbroker 2021 - Ultimate Fintech Awards
  • Best Social Trading Platform 2019 - ADVFN International Financial Awards
Instruments
Fixed Time Trades CFDs, Forex, Stocks, ETFs, Cryptos, Futures, Commodities, Bonds
Demo Account
Yes Yes
Minimum Deposit
$10 $50
Trading Platforms
  • Own
  • eToro Web
  • CopyTrader
  • TradingCentral
Payment Methods
Minimum Trade
$1 $10
Regulator
FCA, ASIC, CySEC, FSA, FSRA, MFSA
Margin Trading
No Yes
Margin Rate
1%
STP Account
No Yes
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 Yes
Robo Advisor
No No
Negative Balance Protection
No Yes
Market Maker
No Yes
P2P Trading
No No
Spot Trading
No Yes
Mobile Apps
iOS and Android iOS & Android
App Review

The Binomo app distinguishes itself by offering a comprehensive toolkit, including a risk-free demo account and over 30 analytical tools for technical analysis, ensuring newcomers and seasoned traders can confidently navigate the markets. Moreover, its diverse asset offerings across various markets, coupled with the opportunity to leverage CFDs provides a range of opportunties, all while having access to 24/7 support.

eToro bring their social trading platform to your mobile, enabling you to copy trades, manage your account and invest via Android or iOS. Trade the key forex pairs from the palm of your hand.

Android App Rating
4.7
4
iOS App Rating
4.6
4.8
Auto Trading
BinomoBot tracks 12 moving and 5 technical indicators and can be set up in than 3 minutes. Automate your trades via CopyTrader - follow profitable traders. Open and close trades automatically when they do.
Copy Trading
No Yes
Copy Trading Platform
eToro continues to deliver one of the best proprietary copy trading platforms on the market, at no additional cost for eToro clients. The web-based platform features a user-friendly and interactive layout and also comes with a community chat, making it a stand-out choice for beginners.
Social Trading
No Yes
Trade Signals
Yes Yes
VPS Hosting
No No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No Yes
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$30 $10
Islamic Account
No Yes
Account Currencies
  • USD
  • EUR
  • USD
Stock Exchanges
Commodities
CFD Trading
CFD trading not offered You can trade CFDs on over 3,000 assets and access rich market data through the integrated TradingView charts. There are also comprehensive free learning tools available for beginners via the eToro Academy, including dedicated CFD trading courses and guides.
FTSE Spread
1.5
GBPUSD Spread
1.9
Oil Spread
0.05
Stocks Spread
0.57 (Apple)
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. An above-average selection of 55 currencies are available with reasonable spreads averaging 0.9 pips on EUR/USD during peak hours. Aspiring traders can continuously hone their forex strategies by switching between demo mode and their live account any time, with full access to the broker's 100+ technical indicators.
Forex App

eToro bring their social trading platform to your mobile, enabling you to copy trades, manage your account and invest via Android or iOS. Trade the key forex pairs from the palm of your hand.

GBPUSD Spread
N/A 1.9
EURUSD Spread
N/A 0.9
EURGBP Spread
N/A 1.3
Assets
19 55
Currency Indices
  • USD
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. eToro leads the way in cryptocurrency trading, offering competitive spreads and a fixed 1% commission, plus their own wallet service. The broker offers a vast list of 95+ tokens which is continually being updated. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more
Spread
N/A BTC 1%
Coins
  • BTC
  • LTC
  • BCH
  • ADA
  • BTC
  • ETH
  • BCH
  • XRP
  • DASH
  • LTC
  • ETC
  • API3
  • CRO
  • SKL
  • IMX
  • ADA
  • MIOTA
  • XLM
  • EOS
  • NEO
  • TRX
  • ZEC
  • BNB
  • XTZ
  • DOT
  • MKR
  • COMP
  • LINK
  • UNI
  • YFI
  • DOGE
  • AAVE
  • FIL
  • ALGO
  • ATOM
  • MANA
  • APE
  • LRC
  • ENJ
  • BICO
  • BAT
  • BNT
  • OGN
  • MATIC
  • FLR
  • GALA
  • ALICE
  • CHZ
  • HBAR
  • DYDX
  • SOL
  • THETA
  • FTM
  • GRT
  • 1INCH
  • CRV
  • ANKR
  • OXT
  • REN
  • SNX
  • STORJ
  • ZRX
  • CELO
  • SUSHI
  • QNT
  • BAL
  • FET
  • SHIBxM
  • AMP
  • AXS
  • SGB
  • CTSI
  • ENS
  • UMA
  • LUNC
  • FTT
  • SRM
  • LPT
  • KNC
  • ARB
  • RNDR
  • OP
  • LDO
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No Yes
Auto Market Maker
No No
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
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