Trading in financial markets has become a sphere of decent earnings for people. To have financial success, it is important to use the services of an excellent broker. Binomo positions itself as a company with great services. Such bold statements indicate that the broker intends to fight for the reputation and opinion of the client. Let’s see if this is not a scam by analyzing the site, trying to trade, and reading customer reviews.
Table of Contents
Highlights
| 🏛️ Country | St. Vincent and the Grenadines |
| ⚠️ Regulation | — |
| 🖥️ Website | https://binomo.com |
| 🎲 Demo Account | Yes |
| ⏳ Start Time | 2014 |
| 💲 Minimum Deposit/Amount | $10/$1 |
| ⚖️ Payout | Up to 90% |
| ⚙️ Expiry Time | 60 sec |
| support@binomo.com | |
| 📞 Phone | — |
First Impression of Binomo.com
The Binomo website looks quite decent for a broker who has been working for so many years. During this time, the company managed to put it in order. The design is simple but attractive. There are necessary sections in the menu, but some conditions will have to be searched for a long time. Of the cons, it should be mentioned that this site is quite typical. Of course, there was no way without self-promotion. The broker praises itself too much.
Partnership and Bonuses
You can participate in the affiliate program. For each invited referral, you will receive a 5% reward. Besides, without depositing, you can change the status of the demo account to a real one and start trading with Binomo’s money. In case of making the first deposit, you can receive a bonus up to 200%.
Account Opening on Binomo.com
To register, fill out the form with following fields:
- Password
- Type of account currency.
Then you have to confirm agreement with the broker’s rules, and click “Create an account”.
A demo mode will be opened, in which you can practice to see the advantages and disadvantages of working with Binomo.
To switch from demo mode to real mode, you need to verify your account. To do this, first log in to your email, find a mail from Binomo in the Inbox, and confirm the email address by clicking on the “Confirm” button. After that, you will have to log in to the broker’s website by entering your email address and password.
In the upper right corner of the Binomo website page, you can open your personal account. At any time, you can upgrade your status to Standard, Gold, or VIP.
Trading Software
Binomo offers only the author platform. There is nothing bad about it, however, as well as good. It looks pretty simple. You can open orders in a couple of clicks and quickly change timeframes.
| Features | Binomo | Quotex | Pocket Option |
|---|---|---|---|
| Demo Account | ✔️ | ✔️ | ✔️ |
| Mobile App | ❌ | ❌ | ❌ |
| Own Development | ✔️ | ✔️ | ✔️ |
How Can I Trade With Binomo?
The broker only offers binary options trading. The minimum deposit is quite small. An order can be opened for only $1. Payouts are up to 80-90%, which seems to be a small value compared to competitors.
All Info About Accounts
Binomo calls account types as statuses. Nothing changes from such a rebranding anyway. The more money you put into the account, the better conditions you will receive.
- Without a deposit, you will receive 32 assets and the opportunity to trade virtual money on a demo account.
- The Standard account already includes 48 assets, fast withdrawal of money and a 100% bonus.
- The Gold one includes 60 assets. Money is withdrawn here in just a day, and the bonus is 150%.
- Finally, a VIP account. The withdrawal rate is 4 hours. The bonus has been raised to 200%. There is even a 10% cashback.
What is most interesting about these types of accounts is that the higher the deposit, the greater your payout. How much money you need to deposit to get VIP status is hidden information. Perhaps it is generally different for each client.
- Demo account
- Several types of accounts
- The company clearly wants you to bring it more money.
- There are no additional services.
- The conditions are not described in detail.
Market Analysis and Education With Binomo.com
In the training on the site there is only a glossary. How will this help traders? Unless, a beginner who does not even know the basics will pay attention to it.
Deposit, Withdrawal, and Fees
For the deposit and withdrawal of funds on the site are available:
- Credit and debit cards
- Neteller
- Payeer
- Advcash
- Perfect Money
- Cryptocurrencies
- Webmoney.
| Features | Binomo | Binary.com | Pocket Option |
|---|---|---|---|
| Debit/Credit Cards | ✔️ | ✔️ | ✔️ |
| Electronic Payments | ✔️ | ✔️ | ✔️ |
| Crypto Transfers | ✔️ | ✔️ | ❌ |
| Deposit Fee | ❌ | ❌ | ❌ |
| Withdrawal Fee | ❌ | ❌ | ❌ |
How Can I Contact It?
Everything is very difficult with contact details. The problem is that there are practically none. You will only be able to write to an email.
- There is an email.
- No other contacts.
- The support takes a long time to respond.
Is Binomo Dangerous?
A binary options broker is generally not the best partner for your wallet. Based on Binomo’s trading conditions, it’s clear that they want to see large deposits from their clients. Then the payouts will be up to 90%. At the same time, it is impossible to call their services any special.
How Long Does The Broker Work?
As for the duration of work, there is nothing surprising. The broker was established in 2014. Its website was also registered at the same time. Domain check confirms this.
How Is Binomo Regulated?
There are big questions about the legitimacy of Binomo. Firstly, the company is registered offshore in Saint Vincent and the Grenadines. Secondly, it appeared in the register only in 2021. All the time, the broker has been working without official registration.
Additionally, binary options are banned in most countries around the world. Therefore, the activity of Binomo is not regulated by anyone. The certificate from the Financial Commission is just a piece of paper. This regulator is non-governmental. It can issue a so-called “license” for a certain amount of money. Oh, by the way, Binomo has never been audited since the date of its registration in FinCom in 2018. It just pays for so-called licenses all the time.
| Features | Binomo | Quotex | Binary.com |
|---|---|---|---|
| European Zone | ❌ | ❌ | ❌ |
| Asian Zone | ❌ | ❌ | ❌ |
| American Zone | ❌ | ❌ | ❌ |
| African Zone | ❌ | ❌ | ❌ |
| Offshore | ❌ | ❌ | ✔️ |
Frequently Asked Questions (FAQ)
How to Trade With Binomo?
Is Binomo Legit?
How Risky Is It?
Kevin Berry This binary options broker attracts clients due to favorable conditions and low rates. However, Binomo’s global and regional traffic has dropped noticeably over the past 3 months. Maybe something has been wrong? Be that as it may, I can only recommend it as a platform for testing BO. There is a demo here and it’s not so scary to lose $1 each. But I urge you not to do business with such companies if you are a gambling person.
Binomo rating
3 reviews about Binomo
For a long time I worked with Binomo in search of their free bonuses. Recently my account was blocked. It turns out that they have introduced some new rules. Now, if a trader does not trade for at least 15 days, the account along with all the money is blocked. Of course, they will not write about this anywhere. I learned about it already from the support. If necessary, I can attach screenshots with proofs. In general, I have 80 dollars hanging on my account. I can’t say that it hurts a lot, but it’s very unpleasant.
Binomo is one of the most famous broker scams. Although they have been working for 4 years, during this time they managed to deceive so many people. You shouldn’t look at the license from FinCom. It is a non-governmental organization that distributes its “licenses” left and right for only $2,000 a year. It only takes one or two rich clients to cheat and two thousand dollars in their pocket. So such a document is bought easily and simply, but there is absolutely no sense in it. I do not know of a single case when traders turned to this regulator for help, and it helped them and solved the problem. Binomo is a common scammer.
I’ve been trading binary options for a long time. Last year with Binomo. Everything is fine with them, and the terminal is working, and the coefficients for the option award in turbo-mode are given. However, there is one small nuance that pisses me off terribly. Every fucking time I want to withdraw money, I have to send a scan of my passport to the support service first. Then photo, then a scan and a photo in one mail. At the same time, even if I send these documents in advance, it still won’t work. Because of this, their instant withdrawal is frozen for almost a week. At this rate, the broker will soon become a scam.