Binomo Review

Binomo is an online trading platform that caters to clients from 133 different countries and is one of the most popular brokers for traders from India, Brazil, Indonesia, Vietnam, and Turkey.  

Binomo was established in 2014 and is owned by a company called Dolphin Corp, located in the St. Vincent and the Grenadines.  With over 887,470 daily active traders and over 30,000,000 successful trades per week, Binomo is one of the largest brokers.

But is Binomo right for you?  Can they be trusted?  In this Binomo review, I'll tell you everything you need to know about this trading platform.

A Solid and Reliable Pick

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With their feature-rich platform, Binomo proves they have spent time evaluating and integrating the most essential elements to online trading.

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Trading Platform

Binomo uses a proprietary trading platform for all of its traders. The platform uses SSL protocol to ensure that all data is encrypted and secure, so your funds always stay safe during any trading conditions. The security of customers' data is critical, as it determines how well the Binomo can protect financial information.

Without certain sensitive financial information such as credit card numbers, bank information, and other personal data, you can't deposit or withdraw funds, which makes platform security necessary. Having this first layer of protection from Binomo benefits you as the trader and preserves Binomo's reputation.

Their platform has more than 20 different graphical tools to help you analyze your trading charts and history. Hotkeys allow for quick access and quick online trading, and they're unique to Binomo. You won't find them with any other traders. Additionally, Binomo provides an economic calendar integration and independent tabs for use with these various charts.

Their streamlined and efficient platform also includes many scalable features, along with the option to start trading with just one click—no confirmation needed. That, combined with the quick refresh rate, allows discerning traders to seize opportunities the moment they arise.

With their feature-rich platform, Binomo proves they have spent time evaluating and integrating the most essential elements to online traders.

Trade Types

Binomo offers the standard High/Low trade type, also known as call/put, and Turbo Trades. High/Low is your standard call/put derivative and is generally available from all online brokers.

High/Low involves predicting whether the final market price of an asset will rise above or sink below the price at the start of a specified time limit. Turbo trades are similar, except with shorter time limits.

Although they don't have a wide selection of trade types on their platform, Binomo does provide non-stop trading availability. The market never closes, which means you can trade whenever you want—including on weekends—setting them apart from other online brokers.

Regulation

Binomo Account Types

When comparing online brokers, one of your first steps is to examine the different types of accounts that they offer. What is the minimum investment required? What are the benefits of the various entry points?

With Binomo, you can start with or upgrade to one of three account types. Each level offers various benefits, and as your investment increases, so do the potential yields and bonuses. Binomo has three account levels: Standard, Gold, and VIP. Let's look at each of the accounts, what they require, and what you get when you sign up for each.

Standard

If you're just getting started with online trading, the standard account may be your best match. It only requires $10 to start trading at this level, and you get access to 30+ assets on the platform.  Having a smaller number of available assets could be less overwhelming if you're a beginner. It allows you to focus on understanding what you're working with instead of the number of options available. Additionally, the low entry cost means that you won't have to worry about risking your funds.  Other features include:

• 3 days to withdraw payouts: Your funds will be available in your preferred method of payment within three days. This may seem like a while, but you'll find longer wait times with some brokers.
• Standard tournaments: Access to Standard tournaments allows you to participate in contests that may give you bonus funds
• 84% max yield
• 80% max bonus

Gold

For those with the capacity for more substantial investments, the Gold option is your next entry point. A Gold account requires a $500 deposit—quite a jump from Standard's $10.  A Gold account allows you access to more assets than the Standard level, so you get 40+ instead of 30+, and you will have earlier access to your funds. Instead of it taking three days to withdraw payouts from your account, you will be able to access them in 24 hours.

You'll notice several other benefits with this account type that you won't find with Standard accounts, including:

• Gold tournaments: These tournaments have higher potential earnings than the Standard tournaments.
• Manager: Aside from having someone who can assist you with your account, the benefit of having a manager is that sometimes they can provide you with a bonus deposit of matching funds.
• Investment insurance to protect your assets
• 86% max yield
• 90% max bonus

VIP

The highest account tier you can get is VIP. This account has all of the features a VIP status should offer. You get quick access to your funds, more assets to trade with, higher yields, and more bonuses.  A VIP account requires a $1000 deposit. These funds give you access to 50+ assets and only a four-hour wait time when you withdraw funds from your account. To assist you in managing your investment, you also receive a VIP manager. Your VIP manager provides support and assistance, as well as possibly offering bonuses.

Other features include:

• VIP tournaments
• 90% max yield
• 100% max bonus
• Investment insurance
• Individual offers

For experienced traders, this type of account offers a significant benefit, especially when it comes to maximizing your ROI.

Binomo Demo

When you're considering an online broker, it's a good idea to explore the company's demo account before trading in a real account. Using a demo account will allow you to evaluate the platform and see if it offers all of the tools and features you want in an online trading broker.

Demo accounts are an opportunity to test drive before buying. You can become familiar with the platform's processes for making trades and the layout of the user interface. A good broker will offer users a free demo opportunity, and Binomo does.

Binomo offers traders the opportunity to practice strategies and become familiar with the platform with their demo account option. To create a demo account, all you need to do is sign up with your email, and you will receive $1000 in virtual funds.

These risk-free funds will allow you to see if Binomo meets your needs as a trader. If not, it's easier to opt out than it is to close an account you've already invested in.

Assets

As far as assets go, Binomo has a selection that is comparable to others. At the highest account level of trading, you have access to 50+ different assets that cover a range of asset types.  Having a diverse selection of assets allows you to pinpoint what you are most comfortable trading. Binomo offers a wide array of assets that includes:

• Commodities
• Stocks
• Currency pairs
• Indices
  
• Commodity pairs

Binomo Trade App

One feature to consider is whether or not the company has a mobile app. Mobile apps allow you to trade from any place, at any time.

Binomo does have a mobile trading platform. You can find the iOS app in the Apple Store or the Google Play Store for Android.

One feature available on the app that you can't get with the web platform is the option to receive notifications. Notifications can help by alerting you to market trends and letting you know when you meet certain trade preconditions.

Binomo Bonuses and Promos

Deposits and Withdrawals

* Risk warning. Before starting to trade on the platform, the Client needs to analyze their financial capabilities and familiarize themselves with the terms of the agreement on the provision of services on the site.