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Key characteristics and advantages of the Binomo online trading platform.

3 September 2020 by Joseph Reyes
Min. deposit: $10
Bonuses program: Yes
Products: CFDs, Forex, Cryptocurrency, Shares, Commodities, Indices
Demo account: Free
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Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. At average of 83% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Content on this page is intended for information and educational purposes only and should not be considered investment advice or investment recommendation.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. At average of 83% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Content on this page is intended for information and educational purposes only and should not be considered investment advice or investment recommendation.

Introduction

When looking for a reliable trading resource, you will find Binomo in many top broker lists. This article will review Binomo trading portal in detail to find out how trustworthy it is. It will disclose what Binomo offers to its users and at what terms.

About Broker

Binomo history started in 2014. The headquarters is located in Cyprus in Nicosia. At first, the broker used the standard terminal from SpotOption. And in a year, the company launched its own platform. A few years later, Binomo fairly took its place in the list of the top leaders in the CIS countries. And Binomo rating firmly keeps its position till now. The company did not stop its improvement and development and started active exploring of the foreign markets. Currently, Binomo international is very popular in many worldwide. This broker is represented in over 133 countries and its main benefit is that you can start trading with minimal Binomo cash investments.

Binomo accepts traders from Thailand, South Africa, India, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar, Philippines, Malaysia 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.
    Binomo homepage
    Binomo homepage
    Binomo homepage

    Facts & Figures

    DEMO ACCOUNT:
    Yes, free
    MIN. DEPOSIT:
    $10
    MIN. TRADE:
    $1
    REGULATION:
    The Finance Commission
    TRADE SIGNALS:
    Yes
    COPY TRADING:
    No
    ANALYTICS TOOLS:
    Yes
    TRAINING MATERIALS:
    Yes
    WEB-ADAPTED:
    Yes
    AUTO TRADING:
    BinomoBot

    Regulation

    In 2018, the broker joined The Finance Commission. Regulation is a crucial characteristic for every company in the financial industry. For all inappropriate actions, the broker may lose its license.

    The Financial Commission has the privilege to independently judge all conflicts in financial markets. Binomo is a member of category "A". It brings the following benefits:
    • Protection. All money on users' accounts is protected up to €20,000. It is a compensation fund that covers the amount. In the case of controversial situations like broker's bankruptcy, the fund will cover you.
    • Court. Traders have the right to address the case to international tribunal for independent judgment. If you have any dispute with the broker, you can file it to this regulating body.
    • Fast support. TFC provides all traders with appropriate feedback. They have representatives all around the world.

    Accounts types

    Binomo trading online offers several types of accounts for trading. Each of them has its own features and benefits. So, here are the 4 types of accounts you can activate on the platform:

    • Demo account. It is a training account that is available to all customers immediately after registering on the site. There is no need to make any deposit on this free account. Moreover, it allows beginners to access prize events and work with more than 20 assets.

    • Standard. This type of account gives more freedom to the traders. And the starting deposit is only $10. The account allows, with the correct forecast, to receive up to 85% profitability and work with +40 assets. The holders of this account can withdraw funds from the deposit within 3 days, receive up to 100% bonuses for the deposit and take part in tournaments.

    • Gold. If a trader has certain trading skills, then it is advisable to open the Gold account variant. To do this, you need to replenish your account with $500. It can be a gradual investment and not a one-time deposit. Such an account provides +50 assets, 5% cashback, insurance, withdrawals within 24 hours (depending on the payment method), up to 150% deposit bonuses, work with a personal manager and the right to participate in tournaments. The Gold account enables a trader to receive up to 90% profitability if the forecast is correct. It also offers Happy Hour promotion.

    • VIP. For the most advanced traders, it is possible to open a VIP account. The main condition is to deposit $1000, but it can be a gradual replenishment. In return, traders receive +60 assets, 10% cashback, insurance, a personal manager, VIP tournaments, up to 200% deposit, risk-free transactions, happy hour feature, prizes, up to 90% profitability with competent forecasting.
    Binomo account types
    Binomo account types
    Binomo account types

    Trading offers

    Binomo brokers review states that you can access options trading in more than 49 different markets. You can invest in the rising and falling markets with a minimum trade of $1.
    Digital or binary options are high-risk financial products. You can make bets on the rise or fall in prices for a limited time. Profit, loss, and expiration are always limited and you know the potential outcome before investing cash. There are only two scenarios: either you lose the investment amount or win a high return on the deposit up to 90%. It is possible to trade short-term and long-term trades.

    Deposits and Withdrawals

    Traders can replenish Binomo real account and withdraw funds in many different ways:
    • bank cards VISA, MasterCard, Maestro, MIR
    • Yandex money
    • QIWI
    • WebMoney
    • Neteller
    • Perfect money
    • AdvCash
    • Top-up from phone balance
    • Cryptocurrency (Bitcoin and Litecoin wallets)

    Withdrawals are to be carried out only via the same channel you used to deposit the funds. The minimum withdrawal amount is 10 EUR / USD (or equivalent in any other currency).

    Speaking about the money withdrawals from the broker, it should be mentioned that traders receive the profits on their account within 24 hours since the moment of the request. It is a really winning feature which is offered by only a limited number of brokerage companies. The withdrawal of Binomo funds itself is a very simple procedure. The trader fills out a form on the official site. Every platform user should go through a verification process to be able to receive payoffs.

    For the convenience of users, Binomo accepts various currencies. You can replenish the account with rubles, euros, dollars. Traders can deposit their national currencies. Thus, the Binomo broker does its best to create flexible rules and satisfy the requests of everyone who wants to join the platform.
    Binomo deposit methods
    Binomo deposit methods
    Binomo deposit methods
    Withdrawals are to be carried out only via the same channel you used to deposit the funds. The minimum withdrawal amount is 10 EUR / USD (or equivalent in any other currency).

    Speaking about the money withdrawals from the broker, it should be mentioned that traders receive the profits on their account within 24 hours since the moment of the request. It is a really winning feature which is offered by only a limited number of brokerage companies. The withdrawal of Binomo funds itself is a very simple procedure. The trader fills out a form on the official site. Every platform user should go through a verification process to be able to receive payoffs.

    For the convenience of users, Binomo accepts various currencies. You can replenish the account with rubles, euros, dollars. Traders can deposit their national currencies. Thus, the Binomo broker does its best to create flexible rules and satisfy the requests of everyone who wants to join the platform.

    Commissions & fees

    Unlike most binary options trading platforms, this Binomo review 2020 shows the broker imposes no fees for using its services. The platform also does not charge anything during the trading activities. Instead, the broker gets revenue when a trader fails a deal.

    This approach makes platform Binomo a very profitable resource for traders, especially those who prefer to trade at higher levels.

    It is also worth noting that Binomo offers additional incentives for VIP clients in the form of payments, in most cases from 87 to 100%. Along with no commissions and lower cost for traders, Binomo is a very attractive platform for many traders - whether they are only starting out trading or are experts in the industry.

    Web and App availability

    Binomo created an exclusive platform for trading. All the members can trade and conduct a technical and fundamental analysis of the market.

    Web terminal features:
    • Higher / Lower contracts trading with the expiration of 1-60 minutes;
    • Indicator and graphical market analysis (14 indicators, 20 instruments);
    • 50+ trading assets from different categories: currencies, stocks, commodities, etc.;
    • Access to the economic calendar;
    • 4-mode chart with 6 timeframes with a possibility of scrolling and zooming;
    • Trading in multi-mode (there are independent tabs with assets).

    Users can use one of these platform options:
    • Binomo web platform
    • Binomo app android
    • Binomo iOS app
    Binomo web platfrom interface
    Binomo web platfrom interface
    Binomo web platform interface
    A mobile application allows users to trade binary options at any time by logging in from their phones. It enables a trader to close the deal in time and prevent losses. A special app allows you to be online around the clock, 7 days a week and monitor the situation in the markets. With Binomo app you can:
    • buy and sell binary options;
    • use indicators;
    • use statistics;
    • deposit money into the account and withdraw profits.

    To have an active platform in your pocket, you only need a gadget itself and a high-quality and stable Internet connection. The application can be installed directly from Google Play or the AppStore. You can install the app on your smartphone for free, as well as download the Binomo platform to your computer.
    Binomo mobile app
    Binomo mobile app
    Binomo mobile app

    Support & Tutorials

    The work schedule of the broker's support service runs in a 24/5 format, with the ability to communicate in a number of languages. And you can contact the Support Manager through:
    • Phone: +7 (499) 3222252
    • Email: support@binomo.com
    • On-line chat
    • Skype: support.binomo.

    Review on Binomo found no complaints about the quality of the Binomo support service in numerous reviews from real traders. The managers of the company do their best to solve the potential issues and instantly revert with responses to all the queries.
    Binomo education hub on Youtube. Watch
    Binomo trade review advises that new customers have plenty of opportunities to apply for a comprehensive training program. The following teaching methods are available for traders:
    • Video tutorials. This section includes more than 50 videos, where leading Binomo experts reveal the key aspects of trading in a simple and understandable way;
    • FAQ contains a list of frequently asked Binomo details the beginners usually want to know. These relate to the topic of trading as well as instructions for working in the trading platform;
    • Strategies offer ready-made trading systems with a detailed step-by-step guide to trading;
    • Individual approach. This type of training is conducted by a personal manager according to unique schemes. It is available only to GOLD and VIP account holders.

    Traders will discover enough resources disclosing winning strategies and hints on how to achieve success in this activity. All training materials are free of charge.

    Bonuses

    The Binomo online trading platform is generous for multiple bonuses:
    • Classic bonuses. It is a regular practice to grant some incentive for the first sum you are ready to send to your deposit. It is 75% of the top-up amount and you can use for further operations on the site.
    • Deposit bonuses. This type of bonuses is smaller for large amounts, but it can be used with each new deposit.
    • Unique Binomo bonus codes adding +50% and +100% to the deposit.
    • $150 options for new clients. Only new clients of the company can get this incentive. It is a unique offer as you do not need to invite or involve anyone in the company. To get it, you just need to make a transaction to your trading account.

    The company devotes enough attention to various prize events. This initiative allows you to improve your trading skills and earn additional funds. There are paid and free tournaments, and each type of the event has its own conditions. The most popular ones are:
    • Daily Free. This is a free version of the event and there is no cost to attend. But the guaranteed prize fund of the tournament is $300, which will be distributed among 60 participants based on the results of the completed competition.
    • Weekend. This is another type of tournament that costs $7 to enter. But the guaranteed prize fund here is already $2,500, which at the end of the event are shared between 30 contestants who have achieved the maximum balance at the end of the competition.
    • Speed. This tournament is one of the paid ones, and entry to the competition costs $12. By the start, the conditions for all participants of the event are leveled, for which each of them opens a special account with virtual $100. By the end of the event, you need to achieve maximum balance. 20 participants who managed to do this, will get a part of $3,000 fund.
    Binomo tournaments
    Binomo tournaments

    CONCLUSION

    PROS
    CONS
    • Well-Designed Interface
    • Bonuses on deposits
    • Risk free trades for VIPs
    • No digital options, no ETFs
    • Small amount of assets on a standard account
    • Withdrawals on standard accounts — 3 days
    Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. At average of 83% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
    Advertising:
    Top 5 Options Brokers 2020
    Expert Option

    Binomo

    eToro

    DukasCopy

    Plus 500
    Top 5 Forex Brokers 2020
    BDSwiss

    Libertex

    XM

    FXTM

    FXPro