Review on the binary options broker called Binomo. Is Binomo scam

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  • BINOMO
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Is Binomo a scam?

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Forex trading involves a lot of fuss, as you can imagine. Everything has to be in accordance with your preferences if your goal is to conduct a safe and lucrative trading venture.

One of the most important undertakings in trading is choosing the right Forex broker. The internet is full of brokers and this makes is very difficult to find the legit ones. However, with a little help from professionals and your own research, you can find decent brokers with above-average conditions.

Binomo is certainly one of such brokers and here’s why:

Binomo Review – Is it SCAM or LEGIT broker?

Binomo

  • Nice and quick platform
  • Free demo to try the platform
  • Min deposit is only $ 10

Binomo is a well-known binary option, cryptocurrency, forex, and CFD trading platform. If you are interested to use this platform, it’s highly recommended that you should know a few things about its background and the tools available. In this complete review of the trading platform, we take a look at the different tools and functionality available on the platform.

At first glance, the Binomo trading platforms focus on technology. As a user, you can take advantage of the up and down movement of an underlying asset. This is indicated on the website when it explains that Binomo is primarily designed for traders who are willing to take advantage of the price movements of currencies, shares, and commodities.

Binomo is packaged for all types of traders and customers looking for access to helpful trading tools. And the way the website is designed and presented, traders will easily get the idea that the Binomo platform features the right set of tools that can help promote a streamlined trading experience.

What to Expect from the Binomo Platform

Binomo currently supports a web trading platform and a mobile app. When using the web platform, you gain access to more than 100 underlying assets. It works 24/7, which means that you have time to invest and trade using a variety of assets including cryptocurrencies.

Design-wise, the trading platform is unique and has been programmed by a broker. The platform is easy to navigate and users and customize the experience. There are different kinds of charts, tools, and indicators that can be used for technical analysis. Based on these tools, charts, and analysis, a trader can offer a forecast ad earn profits.

Binomo’s Platform review

One of the main advantages of the trading platform is its faster trade execution. Traders will not experience lag or connection issues that are common in other platforms. In short, Binomo allows you to enjoy a flexible and smooth trading process. On the right part of the screen, you will find a trading dashboard where you can execute trades.

The trading area is structured and there ‘hotkeys’ which you can use to complete trading. On the left side of the screen, you get access to various options. Here, you can check your trading history, learn a few strategies, or check out the news calendar.

Best Binary Options Brokers 2020:
  • BINARIUM
    BINARIUM

    The Best Binary Options Broker 2020!
    Perfect For Beginners and Middle-Leveled Traders!
    Free Education.
    Free Demo Account.
    Get Your Sign-Up Bonus Now!

  • BINOMO
    BINOMO

    Recommended Only For Experienced Traders!

Different chart type at Binomo

On the upper side of the screen, you can choose which asset to trade. When using this platform, you can use more than one chart. And switching from one chart to the next using a different strategy is easy.

In short, the Binomo trading platform is easy to use. You will find several trading tools and functionality which you can use to create winning trades.

Important Features of Binomo:

  • Use different charts
  • Features more than 20 indicators
  • Trade more than 100 assets
  • User-friendly and flexible
  • Web app and mobile trading available
  • Fast trade execution
  • Easy to customize trading platform

How to Invest in Binomo Trading Platform

With Binomo, you can make a trade based on the movement of the markets over some time. You can select the time of the expiry of the trade and choose short or long. After the expiry, the trade closes and you can expect a high payout or forfeit the investment amount.

The trading platform also allows you to predict the asset’s price movement and put your money in the direction that you expect. There’s no need to worry about the degree of movement; the important thing is to know if the final price is above or below the entry point to collect a profit. Here, the profit is defined by your chosen asset. Your risk in trading is the amount you have an investment. You can only lose what you have investment and you can collect a fixed profit.

The Binomo Trading Demo Account

You can also try the Binomo Demo Account to test the platform for free. When you sign up for a free demo, your account will be credited with $1,000 in virtual money which you can use to test some traders and strategies. You can use the demo account for an unlimited time, which means that you can top-up the account when you want it.

You need a Google or Facebook account to open a free demo account. If you don’t have any of them or don’t want to use them, you can provide your email and password to create an account.

Traders from the United States are not allowed to create an account.

Creating a free demo account with Binomo is a fun way to learn and appreciate the platform and trading without risking your money. If you are interested to open a free demo account, simply click this link. You can use the demo to know if Binomo is a perfect fit for you.

Deposit and Withdrawal

Binomo offers friendly cashier services for its traders. When we check the FAQ section of the trading platform, we noted the presence of several accepted payment options. Traders of this platform can choose from Visa, Mastercard, Neteller, and popular cryptocurrencies. Deposits are credited instantly which will allow you to enjoy trading instantly.

The minimum amount that you can withdraw here is $10. You can only withdraw your funds using the payment processor where you have completed the deposit. Withdrawal requests can take up to 3 working days. When withdrawing funds and taking the bonus, you must comply with the bonus conditions. Failure to comply with these conditions will invalidate the bonus.

Trading Bonus and Conditions

This trading platform offers several bonuses for traders. The most popular is the first deposit bonus which allows you to trade without risking money. Make sure you read the conditions before activating the bonus.

Here’s an example:

  • Say you deposit $5,000 and comes with money management of 1% each trade.
  • The agreed investment amount is $50. If you collect a 100% bonus, your balance becomes $10,000.
  • Now, you start trading spending $100 in every trade with a money management fee of 1%. In this arrangement, the bonus will give you more chances to grow your account.

Although the bonus can boost your account, keep in mind that it comes with certain conditions. For example, you need to complete a lot of trades before you can withdraw your funds.

Is Binomo Safe and Regulated?

This is a common question asked by traders. Yes, Binomo is licensed and regulated by the International Financial Commission (IFC) since May 2020. Also, the broker is certified by CROFR.

This means that Binomo is a safe and reliable platform for trading.

As part of its regulations, the trading platform is grouped in Category ‘A’. This is the highest level possible which means traders can enjoy only the best services possible. When you sign up for an account, your funds are protected up to €20,000. This is known as the compensation fund which can cover your investment in case the broker goes bankrupt.

Terms and Conditions

Pay attention to its Terms and Conditions if you want to sign up for its trading services. The platform features a client agreement that explains the conditions and rules attached to the use of the platform. Make sure to read this client agreement before starting your trades. You will notice that the first line of the agreement indicates that Binomo has been incorporated under the laws of the Republic of Seychelles. The client agreement will also cover disputes relating to trading and risks.

Although the company welcomes a growing number of countries, Binomo also boasts a few country restrictions. For example, traders from Canada, the USA, and the European Union are not allowed to create accounts. It currently focuses on the needs of traders from Africa and Asia. The platform also supports more than 20 languages including Thai, English, and Indian. The majority of the traders of the platform are from the following territories:

  • Binomo Russia
  • Binomo Brazil
  • Binomo Vietnam
  • Binomo India
  • Binomo Pakistan
  • Binomo Thailand
  • Binomo Malaysia
  • Binomo Nigeria

Types of Binomo Accounts

You can choose from 4 different types of accounts available on this platform:

The most basic option is one that features a demo account. The great thing about the demo account is that it allows you to test some strategies without risking your money.

The demo account is free to use and comes with a virtual fund worth $1,000. We highly recommend that you check out first the free demo account to see if Binomo is the right fit for you.

Another option available to players is the Standard option. According to the website, the Standard option comes with full tools and functionality.

This comes with a profit of 85% and a minimum trading amount of $1. This option also allows the traders to participate in tournaments and withdraw funds within 3 days.

Another option available for you is the Gold account that starts at $500.

The Gold account comes with all the tools and functionality from the Standard and a few extras. This account promises fast withdrawals of up to 24 hours, yields of up to 86%, and insurance bonus.

Finally, you can also take advantage of the VIP account where deposits start at $1,000. This platform is recommended for traders who plan to deposit huge sums of cash and looking for exclusive services and trading conditions.

When you sign up for this account, you can enjoy up to 100% bonus, yields of up to 87%, and the ability to withdraw within 4 hours. Also, VIP account holders can enjoy a weekly cashback of 10%.

Our Experience in Using the Binomo Platform

Binomo features all the products that every trader needs to start the trading experience and collect sizeable profits. Although the platform has a free demo and appears to offer the right set of trading tools, there are still a few things missing. For example, it needs to build its trading and education section. Also, the company is not fully regulated by CySEC. Overall, Binomo.com covers all the basic requirements when it comes to the trading platform. But if you an advanced trader and wants more, then you will find the platform as insufficient.

Have you tried using the platform? If yes, then we invite you to leave a comment and let the other traders learn more about your thoughts and experience. And if you have some questions, please don’t hesitate to leave it here.

On a personal note, I think that Binomo is a capable trading platform. In this comprehensive review, I included the features and advantages of the platform. Based on my hands-on experience, I can say that this is not a scam. You can try the platform in a free demo first before investing your money.

More info about Binomo

Binomo Pros

  • Nice and quick platform
  • Free demo to try the platform
  • Min deposit is only $ 10

Binomo Cons

  • Only english and russian support

Binomo – Review author

More about the author Step

I’ve wanted to build a business of some kind and earn money since I was in middle school. I wasn’t very successful though until my senior year in highschool, when I finally started to think about doing online business. Nowadays I profitably trade binary options full-time and thus gladly share my experiences with you. More posts by this author

Binomo Details

✅ Broker Binomo
✅ Website URL https://binomo.com
✅ Founded 2020
✅ Headquarters Mahe, Seychelles
✅ Support Types Email support, Online live chat
✅ Languages English, Indian, Bahasa indonesia, Thai, Spanish
✅ Trading Platform Custom made platform
✅ Minimum 1st Deposit $ 10
✅ Minimum Trade Amount $ 1
✅ Maximum Trade Amount $ 10 000
✅ Bonus FREE DEMO AND LOW MIN DEPOSIT
✅ Payout Up to 90 %!*
✅ Free Demo Account
✅ Regulated
✅ Deposit Methods Credit Card, Wire Transfer, Skrill, Neteller, Cryptocurrencies
✅ Withdrawal Methods Credit Card, Wire Transfer, Skrill, Neteller, Cryptocurrencies
✅ US Traders Allowed
✅ Mobile Trading
✅ Tablet Trading
✅ Overall Score 4.8 / 5

Open Account!

One Response to “Binomo Review – Is it SCAM or LEGIT broker?”

A lot of people are complaining that they quickly accept cash and you try to withdraw they make you frustrate is it true?

Making money online gained in popularity like never. You can get real money in many ways, including binary options trading. This trend is one of the most promising, that’s why the risk that you may hit upon fraudsters is high. Some may accuse Binomo broker, the trusted leader in this field, of dishonesty. Let us get all this straightened out. Is that true?

Negative feedback on Binomo

You may see negative feedback on the Binomo company on various binary trading websites and forums. But that doesn’t say much that you shouldn’t trust in this project. According to the analysis, some feedback has the same pattern. It means that the business rivals paid for this provided feedback. This so-called “true” feedback is not buttressed up by any facts. So, you shouldn’t believe it.

Newcomers, another category of the former clients, charge Binomo with dishonesty. They registered on the website or in the app. But they couldn’t dig into the service and basic trade strategies or lacked a desire. So, they failed and got short of their funds. It’s easier to accuse Binomo of fraud, than confess that it’s you who is to blame.

Some clients call binomo.com a scam site as it switched to a new trade platform. Moreover, people on the project changed the bank that keeps the users’ deposit funds. These radical changes resulted in technical bugs and withdrawal problems on the platform. Some former clients considered it a fraud and bubble scheme.

The platform managed to restore its functionality quickly. The rush of indignation waned fast. The analysis of the recent feedback on Binomo shows that it has mostly glowing reference.

This comes as no surprise. After the debug, the official broker’s site provides the traders with favourable terms of trade, a wide range of required tools, and a prompt cash withdrawal. The withdrawal from the Binomo account into a user’s bank card or e-wallet takes from several hours to three days. It depends on the account status. VIP-users have priority.

Is Binomo scam or not?

Many brokers who still have no accounts on this trade platform wonder if the game is worth the candle. Binomo is the responsible dealer of binary options. The complete business transparency is one of the features that prove it. All the relevant information is in the public domain. Any user can assess it.

To Binomo credit, it entered the top-3 best online brokerage projects in 2020. That’s why you can trust the company with your money without fear of fraud. Dealing center reliability is at a high ebb and shown in the documentation.

Is Binomo legally operating in India and other countries? Yes, it is. Binomo has a license from the regulatory body of the binary options market.

The binary options broker Binomo annually undergoes CROFR (FMRRC) certification. Binomo holds a corresponding license. This means that the statutes of the current law protect all clients’ accounts. Binomo spent a lot of time and effort to establish the company and try to keep business on track. That’s why such a reliable company can gain nothing from fraud against the clients.

Also, Binomo project is one of the most breakthrough and fast-growing platforms of the binary options markets. It attracts thousands of new clients. The dealing center carries out the terms of an agreement. By the way, each client must sign an agreement to create an account. The portal abates not a jot of its trade terms. Thus, there is no objective evidence that Binomo fools and tricks the traders. One cannot blame Binomo for any fraud!

Nothing indicates that Binomo is an unfair company. You can earn and withdraw real money here. Pay no mind to the intrigues of rivals and negative feedback from the former clients who failed to work on the platform.

Are there any other facts that prove Binomo trustworthiness?

To prove for sure that this Broker is not a scammer, let’s name the main features that should get any broker’s attention.

Ensured success

Some dealers promise 100% gaining to users. In reality, no one can promise it on the binary options market, as things are changing every minute. Decent trade platforms provide clients with the maximum tools for work. They do not give an iron-clad guarantee of success. The dealing center Binomo does not apply it in practice either. So, you cannot tell that it is a speculator.

Suspicious website

A suspicious site is another clear sign that may unmask a scam broker of binary options. The trader should become concerned if:

  • the URL is strange (f.e. an alphanumeric character set and not the company name);
  • the portal is coded carelessly, on the fly;
  • the texts are full of mistakes;
  • the content has scattered rows, etc.

These signs show that they created this one-day site to make bank and hook clients. This portal is not designed for long term usage.

Is the Binomo broker site secure? Yes, it is. Binomo developed its site competently and at the highest levels. It has over twenty pages full of interesting, useful and correct texts.

Third parties

Dishonest binary options brokers resort to third parties. The scheme is simple: they ask a user to call on an intermediary broker’s aid to claim the prize. As a result, money goes west.

As for Binomo broker, the portal never redirects its users to any third parties. Each user can request to withdraw funds from his trade account by filling in the information in the profile.

Combative advertising

Scammers’ aim is to fool more naive users fast as can, so, they are not above obtrusive advertising. You may get to a binary options site through an ad or banner located on another portal. Then, the probability that you are on a fraudulent site approaches 100%. You should remember that honest dealing centers do not attack the network users with combative advertising. If one can make money on the portal, new users find this portal on the bush telegraph.

Moreover, the scammy binary traders use email or SMS spamming. The texts are similar. They say that you are offered an opportunity to hit a big jackpot on a silver platter. You should grow suspicious at this message as it is a clear sign of fraud. No one will share profitable offers just for a thank you.

The next thing that should alert you while choosing a binary option is the huge amount of paid-for positive feedback. You can spot it. The text is full of great admiration, repeats many other reviews. The grammar is excellent.

You should watch video-reviews critically too. Some may say that they make a lot of money, but there is some grubby furnished room in the background. You shouldn’t take at their bare word. Those who provide paid-for feedback read the prepared texts. They never speak from their hearts. You can see it.

Is negative feedback on Binomo real or fake? You can tell fake feedback from real: it’s a text without any proofs that repeats many other comments.

Incredible success stories

Scammers often tell fabulous stories about getting into big money thanks to this or that binary option. The most popular story tells about “Slumdog millionaire”. The main character shares a sob story about his life “Before” and “After” in the video. This story is not supported by any evidence. All that you can see is photoshopped images.

Are there any such stories on Binomo? No, the site has never attracted clients by this method. This binary options broker is open to his users. There is no need to promote the platform through these awful success stories.

Thanks to Binomo, you have a realistic way to make money without any frauds!

Binomo Review

Overview

Binomo binary options broker has been around since the year 2020 offering her clients reliable services without conflict of interest. You can start trading from just $10 deposit.

Broker Details

Broker Binomo
Website URL www.binomo.com
Founded 2020
Headquarters Cyprus / Seychelles
Support Number +441143033932 ( Uk ) , +23414408171 ( Nigeria )
Support Types Email , Phone , Live Chat
Languages English , Bahasa Melayu , Bahasa Indonesia , Thai , Chinese , Vietnamese , Korean , Hindi , Russian , Portuguese , Español ,
Trading Platform Propietary
Minimum 1st Deposit $10
Minimum Account Size $10
Minimum Trade Amount $1
Promotions Deposit Bonus
Payout 95%
Free Demo Account Open Demo
Regulated
Regulation International Financial Commission
Deposit Methods Credit Cards , Webmoney , Neteller , Mobile Commerce , Coinpayments ( Bitcoin & Litecoin wallets ) and ePayments ( South Africa, Nigeria e India )
Number of Assets 80
Type of Investments currencies, crypto, stocks, indices, commodities
US Traders Allowed
Mobile Trading
Tablet Trading
Overall Score 5.0
  • 25% Deposit Bonus ( 100% Bonus VIP accounts )
  • Minimum Deposit of only $10
  • Minimum Trade of $1
  • Max. 95% Payout
  • $1,000 Virtual Funds ( Demo Account )
  • Weekend trading
  • Free Training

  • You can’t buy cryptocurrencies

Full Review

Last Binomo review update: April 1 2020

Review of Binomo: Overview

A vast majority of people do not succeed at trading because of the total control trading offers. As a trader, you are saddled with the responsibility of when to get in and where to get out. Not forgetting the dilemma of whether you should be doing a risk-reward ratio of 1:1, 1:2 or 1:3 etc. You see, the average human is not built to handle such wide range of decision-making process.

This is a major reason why binary options, a variant of trading are gaining rapid popularity within the trading community. Your next options trade is just a click away, which could be either a Put or a Call option, assigned with your preferred risk amount and expiration time. This popularity in the space has also attracted the attention of brokers who happen to be imposters, with malicious intent. Most of these brokers use unethical means to extort funds from unsuspecting clients.

Finding a reliable, trustworthy and team player broker can be like finding a needle in a haystack. This is why I will like to do a review on a broker that recently caught my attention.

Binomo binary options broker has been around since the year 2020 offering her clients reliable services without a conflict of interest. You can start by clicking the signup button, which requires a few minute of your time. For starters to options trading, I would recommend you subscribe to the Binomo training course as well as receiving weekly analytics upon reading and accepting the client agreement.

Trading Platform

The guys at Binomo are inclined towards modern technologies and how it can be used to give clients seamlessly, interactive, easy to use yet robust and secured trading experience. So do you enjoy a mobile trend experience, web-based, or you are old school like me who enjoys the good old and reliable desktop? Binomo options broker has got you covered. They have mobile platforms in both Android and iOS apps available for download on the app-stores.

Whichever form of the platform you decide to use, they are generally of the same orientation. Select the asset you are interested in trading, followed by the amount you are willing to trade and the expiration date. Depending on the prediction for your chosen asset, executing a Call or Put option can be done by clicking on either the green or red button on the right panel of the platform. With this, you have concluded a binary options trade which is available for you to monitor on the dashboard of the trading platform.

Binomo Trading Platform

The panel at the bottom left corner of the trading platform contains functionalities for choosing your preferred chart type, time-frame, indicators and drawing tools

Chart Type and Time-frames

Based on your choice, you can have the time series for the chosen asset displayed as Mountain, Line, Candle, or Bar charts. For ease of monitoring the expiration time or carrying out analysis, time-frames from a second to five-minute time perspective can be selected.

Drawing Tools and Indicators

You can chose horizontal lines from the panel to establish support and resistance levels using horizontal lines and other available chart objects.

Binomo trading platform has the most popular trading indicators available to aid in your prediction of market direction. My favorite being the MACD (9,21,5), and RSI indicators. Your choice may be different.

Assets offered for trading

Based on my experience as a trader, I discovered that trading can be like trying to shoot a moving target. Money flows from one asset to another, and one time-frame to another. With this understand, I for one subscribe to a broker that gives different choice of trading a lot of assets. On the Binomo trading platform, you can place binary options trades on shares, stock indices, commodities, Forex Pairs, and Cryptocurrencies.

Types of Accounts

At Binomo binary options, you have different trading account types to choose from, depending on your trading experience.

Demo Account

If you are considering a no-risk way to test your trading strategy, or you’re on your first journey into trading, this account type is best suited for you. Once in a while, I often utilize the demo account to test a trading idea I’m working on. I consider this to be less risky, considering that real money is not involved. The Binomo demo account equally allows traders to test their trading platform. Restoring the demo account to the starting balance is possible by a click of the refresh symbol on the platform. So you can practice over and over again till you get familiar with the platform, as well as find a winning trading system.

Standard Account

No amount of practice on a demo account can substitute for experienced trading on a live account with real money involved. This is where your psychology is put to the test. In your journey as a trader, at some point, you have to open a live account. One of such is the Standard account with Binomo. Making a trade on a Binomo standard account can be entered with just $1starting with a $10 deposit in your account.

The standard account offered by Binomo is designed in such away that people with little or no experience can come into the world of binary options trading without having to save a lot of money to get started. With a standard account, you can enter for periodic competitions hosted by the broker. Check out the image below for details on this account type.

Gold Account

One important rule I learnt early in my trading career is to never fall in love with my trades or asset class. More trading instrument means I should only trade where the opportunities are. The Gold account offered by Binomo grants traders accesses to a wider range of asset class, as well as other benefits such as higher yield on trade compared to the standard account; access to a personal manager and strategy support from proven professional trader’s analysis.

The starting deposit required for a Gold account on Binomo broker is $500. With this, you should be able to earn a decent profit if you follow a profitable trading system, or leverage of the professional advice offered. The screenshot below highlights the features of a Gold account.

VIP Account

This is the account I will recommend for whales, though the bonuses offered on this account type can be really attractive, I will not recommend it for beginners. It is, however, suitable for experienced professional traders who understand how the market works and now handle trading as a business. Such individuals or corporations should require some sort of insurance on their capital. Well, the Binomo VIP account has got you covered in this regard alongside offering 10% weekly cashback.

Minimum deposit and Bonuses offered

Minimum deposits offered on the Binomo broker varies depending on the account type opened. Generally, the minimum deposit required to start trading on a live account is $10 on the Binomo Standard account. The minimum deposit for Gold and VIP accounts is $500, and $1000 USD respectively. Clients with on a VIP account can leverage off a bonus of 100%.

Payout

Binomo , categorized payout based on the asset traded and the account type you operate with them. You can find the payout for each asset you want to trade besides the asset name in percentage. For a Standard account, the maximum payout is 85%, while it is 86% and 87% for Gold and VIP accounts respectively.

Deposit and Withdrawal option

Withdrawing funds from your Binomo account depends on the type of account you are operating with the company. Preferential treatment is given to clients running a VIP account, which takes less than 4hours. Withdrawal form a Gold or Standard account takes up to 24hours and 3 working days respectively.

Deposit and withdrawal platforms accepted by Binomo binary options include Mastercard, Visa, Maestro, Neteller Qiwi wallet, and cryptocurrencies.

Customer Support

This is one area some companies do not do well at all. Binomo broker takes their customers very seriously. Their customer support is available 5 working days; on the other hand, you can also create a ticket on the ticket page.

Binomo Review: Summary

Working with an experienced broker with customer success as a top priority can be difficult to find these days. However, through consistent customer satisfaction and being able to stand the test of time, Binomo will be on my top list of recommended brokers.
Always remember to trade responsibly, don’t forget to read the customer agreement, and related documents.

Best Binary Options Brokers 2020:
  • BINARIUM
    BINARIUM

    The Best Binary Options Broker 2020!
    Perfect For Beginners and Middle-Leveled Traders!
    Free Education.
    Free Demo Account.
    Get Your Sign-Up Bonus Now!

  • BINOMO
    BINOMO

    Recommended Only For Experienced Traders!

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