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Binomo vs Nexo

Binomo vs Nexo Comparison Table 2023
Binomo Nexo
Review
3.4
Review
3.9

Nexo is #22 in our crypto broker rankings.

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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.

Nexo is a crypto trading platform that also acts as a gateway to DeFi crypto functions such as staking, borrowing and lending. The platform supports 60+ crypto tokens, which can be purchased with a fiat on-ramp and traded in 500+ market pairs. The exchange operates a zero-fee policy allowing a set number of completely free withdrawals per month and fee-free trading.

Bonus Offer
Loyalty scheme with various bonuses, plus referral program
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." "Nexo is good for traders who want a straightforward way to access DeFi crypto markets and earn interest on their digital assets."
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
  • Convenient way to buy, stake, lend and borrow crypto through one platform
  • Allows users to borrow against their crypto holdings
  • 2 factor authentication for added security
  • Advanced Nexo Pro trading platform
  • Referral program with $25 in BTC
  • Very affordable pricing structure
  • High-yield interest savings
  • OTC trading capabilities
  • Audited by Armanino
  • Earn NEXO tokens
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
  • Restrictions on using the native tokens for New York and Vermont US residents
  • High collateral requirement of 200% of the amount you wish to loan
  • Relatively small selection of crypto tokens which misses newer altcoins
  • Native tokens are required for maximum interest rates
  • Limited free cryptocurrency withdrawals
  • No crypto derivative trading
Instruments
Fixed Time Trades Cryptos
Demo Account
Yes Yes
Minimum Deposit
$10 $10
Trading Platforms
  • Own
  • Own
Payment Methods
Minimum Trade
$1 $30
Regulator
ASIC, FCEN
Margin Trading
No No
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 No
P2P Trading
No No
Spot Trading
No No
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.
Copy Trading
No No
Social Trading
No No
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
  • USD
  • EUR
  • GBP
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. Nexo traders can buy and sell 60+ cryptocurrencies using fiat, or trade between 500+ market pairs. The app functions as a crypto wallet, meaning that clients will own their own tokens but Nexo will have custody of them. Crypto assets can be transferred from the Nexo wallet. Fees are low and user security is high.
Spread
N/A N/A
Coins
  • BTC
  • LTC
  • BCH
  • ADA
  • BTC
  • ETH
  • NEXO
  • USDT
  • USDC
  • AXS
  • RUNE
  • MATIC
  • DOT
  • APE
  • AVAX
  • KSM
  • ATOM
  • FTM
  • NEAR
  • BNB
  • ADA
  • SOL
  • XRP
  • LTC
  • LINK
  • BCH
  • TRX
  • XLM
  • EOS
  • PAXG
  • UNI
  • DOGE
  • MANA
  • SAND
  • GALA
  • SUSHI
  • AAVE
  • CRV
  • MKR
  • 1INCH
  • DAI
  • USDP
  • TUSD
Crypto Lending
No Yes
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
Review
Review
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