Binomo

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Binomo is a popular trading option for those interested in Binary Options. Unlike many larger-scale trading platforms, Binomo has the same level of focus on low trade size requirements – ideal for managing risk – as well as VIP options for the serious traders that are well-used to Binary Options trading. With returns up to 90% per trade, and low cost entry requirements, the time to start is now!

Filled with excellent features, and plenty to talk about, there’s a reason why this FMRRC licensed service is the top pick for traders of all shapes and sizes.

This review will examine all there is to know about Binomo, providing insight for you to decide if it’s the right fit for your trading journey.

Trading Platform

As a service that focuses on Binary Options, Binomo have been able to provide a streamlined, efficient and practical trading platform designed specifically for purpose.

While, on release, the company utilised the popular but limited SpotOption terminal, they have since moved away from package solutions into a completely proprietary design that’s the perfect fit for online trading worldwide.

Designed to be modern and functional, Binomo’s trading platform is regularly updated with high-quality features as well as to fix any bugs that arise swiftly.

Some of the smartest features included as part of the Binomo platform consists of a range of 20 different graphical tools to aid in chart analysis, the ability to use hotkeys and keyboard controls and independent tabs for use with charts.

Other handy features, such as an Economic Calendar integration and fast refresh rates, make Binomo even more useable than alternatives on the market. Efficiency is also clearly relevant to the brand, with plenty of scalabilities plus the option for fast, one-click trading with no need for confirmation.

Alongside these exclusive features, Binomo also offers support for daily tournaments, something that can be a challenge to host for many virtual trading platforms.

However, the quality and consistency of Binomo’s design makes it easy for the service to be feature-rich, and offer plenty of advanced tools and technologies to its audience. For those that enjoy slick, mobile-ready platforms, Binomo might be an ideal option.

Binomo trading platform

Assets/Markets

Binomo boasts more than 50 different assets for their traders to utilise, in addition to spanning across several markets to provide their customers with a flexible and versatile range of different options to pick from.

In comparison to more specialised trading platforms, this greater range can be advantageous to traders looking to dabble in different markets or try out different assets.

While Binomo only offers High/Low trading contracts, this is more than made up for with the range of assets on offer.

The following are some of the current options available to those looking to trade on Binomo:

  • Commodities e.g. gold and oil
  • Stocks from popular companies e.g. BMW, Disney and Google
  • Currency pairs e.g. AUD/USD and GBP/USD
  • Indices e.g. CAC40 and DAX
  • Cryptocurrency e.g. Bitcoin and Litecoin
  • Commodity pairs e.g. silver/gold

By offering a broad choice of different assets and options to traders, Binomo ensures its services are suitable for a more comprehensive range of traders, especially when it comes to highly-valued stocks and currency pairs – which many other trading platforms don’t offer alongside more standard commodities or currency pairs.

The cryptocurrency range that Binomo offers is one of the areas it lacks in, with only Bitcoin, Litecoin and CRYPTO IDX on offer.

Spreads & Commission

As is standard with most Binary Options trading platforms, Binomo doesn’t charge a fee for the use of their services.

The platform doesn’t charge a fee to traders based on commission either. Instead, the service makes its income through the money gained when a trader loses a trade.

This method makes it a highly lucrative option for traders, especially those that prefer to trade at higher levels.

It’s also worth noting that Binomo offers an extra incentive to VIP clients in the form of payouts, between 87-100% in most cases. Alongside the lack of fees and lower cost for traders, Binomo is a highly attractive option for many traders – whether they’re starting out or are old hands in the industry.

Leverage

Like the majority of other digital option platforms, as a Binary Options trading option, Binomo does not utilise leverage as part of its offerings.

For traders looking specifically for leverage, they may find more success elsewhere. However, Binomo has plenty of other advantages that make it more than worth further investigation for anyone sitting on the fence.

Mobile Apps

Binomo offers a high-quality, fully realised mobile app in addition to providing a mobile-reactive platform for the desktop version of their service. Their trading app is available on both iOS and Android.

It utilises push notifications to keep traders up to date on transactions, promotions and tournaments within seconds of them being launched. The use of notifications and the overall quality of the app makes Binomo a suitable choice for those that prefer to trade on the go.

All the essentials are covered in the app, and while the desktop platform may still be needed for more in-depth analysis and those little details, there’s value to being able to carry your trades in your pocket with you wherever you go.

The Binomo app is themed to match its desktop design perfectly, providing a cohesive experience for those who prefer to switch between the two at leisure.

Payment Methods

Funding accounts is one area that Binomo has made incredibly easy, in part thanks to catering to an international customer base – which means far more options than the average country-specific service.

Top choices for funding your account include using a VISA or MasterCard bank card, while additional international payment systems are also supported. Binomo recommends a starting balance of $500 for their platform, which can then be topped up as much as 100% depending on promotions and bonuses available.

The minimum deposit is $10.

Demo Account

Binomo offers a cohesive and fully accessible demo account to interested parties, which is available simply by entering an email address.

This account is well-stocked with a virtual $1000 upon sign up and can be topped up at any time for those looking to get adventurous with their planning and grasp of the platform.

All functionalities are available within the demo account, ensuring you can get an exceptional understanding of the Binomo proprietary platform without even stepping foot into the live markets.

Deals and Promotions

Binomo regularly offers excellent deals and promotions to their customers, whether it’s in the form of topping up their account with additional funds upon deposit or providing a great sign-up promotion.

EU traders will not see any offers, but RoW regions (such as Brasil and South Africa) will see some promotions.

These deals vary from day to day, so your best bet is to keep an eye on what’s out there to get the best value for your money. For beginners to trading, depositing $500 can give you access to additional support and one-on-one training to help fast track your learning through a personal manager.

Binomo features

Regulation and Licensing

Binomo is currently undergoing the process for licensing under CySEC, but at the moment the only certification they hold is through the FMRRC.

However, due to their Category A rating and general trustworthiness over the last five years, Binomo is still a safe bet for traders – especially those starting out.

In addition, to be accessible in certain countries, Binomo has been certified independently, further supporting their trustworthiness as a brand and service.

Additional Features

As a trading platform that focuses on quality and user experience, Binomo has a whole host of additional features that make them ideal for traders. This includes the use of numerous graph and analytical tools, in addition to quality-of-life features such as an inbuilt Economic Calendar, which can be customised as you wish.

Every addition Binomo places into its proprietary browser platform is of the highest possible quality, and new options continue to be added in free updates to this day.

Account Types

In line with other trading services in the industry, Binomo provides three individual tiers of accounts to their customers, based on their funding level within their account.

No additional payment or sign-up is required to achieve these account statuses. It’s also worth saying that deposit limits are based on funding over time, rather than single deposits – making it far easier than you’d expect to reach VIP account level if you so wish.

The three account types offered by Binomo are as follows:

  • Standard: $10 minimum fund, provides access to all features plus tournaments
  • Gold: $500 minimum fund, faster withdrawals, trading strategies and access to a personal manager
  • VIP: $1000 minimum fund, maximum privileges and a fully personalised services

While each account has its benefits, Binomo doesn’t push for traders to go beyond what they’re comfortable with. As such, users can access just about any advantage the site has to offer from a standard account, with additional benefits for those that reach the tiers above.

Benefits

For traders, beginner or expert, considering Binomo as a future trading platform, here are some of the good things we can say about the service:

  • Low starting requirements, ideal for those new to tradings
  • A fully kitted-out demo account that has all the tools for learning
  • A practical and convenient account tiering system
  • High-end functionality through a well-designed trading platform
  • Fast, easy and reliable withdrawals
  • The inclusion of tournaments, adding additional value and competition into the service
  • Focus on growing markets in Brazil, India and Indonesia

Drawbacks

Despite there being many positive things to say about Binomo as a service, there are also several drawbacks attached to this platform. These include:

  • Limited assets, especially when it comes to those that enjoy trading in cryptocurrency
  • Currently only certified under the FMRRC
  • No desktop software, only app and browser availability
  • Insights, signals or social trading is not available

Company Details

Founding in 2014, Binomo is now owned and operated by Dolphin Corp, who are registered in St. Vincent and the Grenadines.

With a Category A ranking under the International Finance Commission as of 2018, there’s no denying that this platform is as authentic as it is accessible.

The company’s membership to the Financial Commission is just one of the reasons it’s considered a trustworthy option, along with its positive reputation around the world. Binomo self-describes as a ‘client-oriented’ service, something that is carried across by their CROFR certification as well as their ongoing success in the industry as a whole.

5 Powerful Tips

These tips apply not just at Binomo, but most binary platforms. Level up your trading by making these 5 changes:

  1. Trade Size – Give yourself freedom to make good decisions by only trading between 2% and 5% of your balance on a single trade.
  2. Specialise – Get to know just a few markets well. Once you know an asset well, good trades will come to you.
  3. Trade Only With Money You Can Lose – Similar to trade size, you cannot make wise decisions if you need your trading funds to pay day-to-day bills
  4. Use The Demo Account – Use the demo account alongside your live account in order to practise, improve and test strategies.
  5. Be Disciplined – Don’t chase losses or pick trades randomly. Keep a record of your trades.

Trading Hours

As with many modern trading platforms, Binomo is available around the clock for the use of their customers. However, certain features, such as tournaments, will be held within specific time slots each day. For those that prefer to trade on their schedule, Binomo might be the ideal solution.

Contact Details / Customer Support

Binomo offers customer support through a range of different mediums, one of which is live support through their online platform. However, this live chat doesn’t seem to be open around the clock, so the alternative is contacting the company through social media or via their support email: support@bimono.com.

In addition to their email, Binomo also provides their full address on their website, which is as follows:

Dolphin Corp
First Floor, First St. Vincent Bank Ltd
James Street
Kingstown
St. Vincent and the Grenadines

Safety and Security

Binomo takes the security of its customers seriously and achieves this goal by using a proprietary platform specifically-designed to be encrypted and secure for all customers. They also utilise well-known, safe payment methods for both deposit and withdrawal, ensuring your cash is always kept safe.

According to Binomo, all customer funds up to $20,000 are protected against fraud, while the use of SSL ensures all data is encrypted and safe. This transparency and high level of security are one of the reasons why the trading platform continues to succeed against its competitors.

Overall Verdict

Binomo is a trading platform that takes its customer support and service seriously. Instead of charging hefty amounts for their services, and being inaccessible to newer and less experienced traders, the brand has chosen to welcome their client base with open arms.

For those starting out in trading, or old hands that want the high level of service that comes from a VIP account, then Binomo is an excellent fit. While it may be slightly limited, this only serves to make what they do offer even better-designed and highly effective.

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