Binomo Scam or not? – Trusted Review
When you searching for an investment platform you will often find Binomo on the top rankings. But how good is this software? Is it a scam or a reliable partner for investing? – As traders with more than 7 years of experience we tested the Binary Options Broker Binomo in detail. Learn more about the offers and conditions for trading digital options. Should you invest your money there? – Find out in our trusted broker review.
What is Binomo – Company facts
Binomo is an international trading platform for digital options. The website is managed by the Dolphin Corp with the address First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St.Vincent and the Grenadines. The company provides professional software for investing in different markets. You can invest in rising or falling prices and earn a high yield.
This broker is active in more than 133 countries and very popular because you can start trading with a small amount of money. Since 2015 the company earned different prizes and awards. Moreover, Binomo builds a very good relationship between the company and traders. From our first experience, it is a legit company to invest with.
Facts about the company:
- Legal company in St. Vincent and the Grenadines
- Active in more than 133 countries
- Online trading platform for digital options
- Awarded broker
- Professional support for clients
Is Binomo regulated? – Safety for customers
Is Binomo a regulated broker? Before signing up with any trading platform you should check if it is regulated. It is important for the broker and customer to use regulatory authority to avoid a scam. As mentioned before, Binomo is a legal company registered in St.Vincent and the Grenadines.
In addition, the broker is regulated by the International Financial Commission with the highest category “A”. This implies a compensation fund of €20.000 per complaint. The IFC is an international regulation who is checking the online broker Binomo and offering a trusted certificate. If Binomo would cheat on clients they would lose this certificate very fast. From our experience, fraud can be excluded from this platform.
Furthermore, Binomo uses only regulated payment methods for deposit and withdrawals. The funds of clients are managed in a separate bank account. Often you will hear that people say Binomo is a scam. You should know that high-risk financial products are offered. Some people are trying to blame the broker when they lose money because they do not understand how to trade successfully. As professional traders, we can say that Binomo is a safe and trusted platform.
Regulation and safety:
- Binomo is regulated by the Financial Commission
- Category “A” regulation
- €20.000 compensation fund
- Regulated payment methods
- Segregated customer funds
What can Binomo offer for the clients? – Trading conditions
Binomo offers digital options for trading more than 49 different markets. You can invest in rising and falling markets with a minimum trade amount of $1. If you want to open a live account you have to deposit $10 or more. Also, a free demo account is offered by Binomo. You can test the trading platform by yourself.
See the account types which are offered from Binomo:
|Withdrawal:||Up to 3 days||Up to 24 hours||Up to 4 hours|
|Yield:||Max. 84%||Max. 86%||Max 90%|
|Bonus:||Max. 80%||Max. 90%||Max. 100%|
|Special:||✘||Investment insurance, manager||Investment insurance, VIP manager, individual offers|
Digital or Binary Options are a high-risk financial product. You can bet on rising or falling prices within a limited time. The profit, loss, and expiry time is always limited and you know the potential outcome before you invest money. There are only two options: You can lose your investment amount or win a high return on capital up to 90%. It is possible to trade short-term and long-term trades.
Binomo offers different markets to trade:
- Currencies (Forex)
Beginners can learn more about the online trading by using Binomos video tutorials and trading strategies. Also, we will explain to you how to trade step by step in the following sections. All in all, Binomo offers good conditions for trading digital options. The trading platform is very competitive compared to other competitors.
Conditions for Binomo traders:
- Free demo account
- Account minimum deposit $10
- Account types
- Yield up to 90%
- More than 49 different markets and assets
- Long-term and short-term trading is possible
- Fast execution of trades
(Risk warning: Your capital is at risk)
Test of the Binomo trading platform
The trading platform is the most important part of any trader. In the following section, we want to show you the functions of the software and the results of our test. Binomo is offering a professional trading platform for any type of device. You can trade with your desktop computer or mobile device (iOS, Android).
The following platforms are offered:
- Binomo web platform
- Binomo app android
- Binomo app iOs
In the picture below you will see a screenshot of the web platform:
From our experience, the Binomo platform is user-friendly and perfect for beginners and advanced traders. You can customize the chart for your analysis as you want. It is possible to use different chart types and time frames for the analysis. In addition, you can add free drawing tools and indicators to do a technical chart analysis.
On the upper side, you can choose the market you want to trade. Muli-charting is possible by switching with one click between the markets. On the right side, you see the order mask where you open your trading position. On the left side, you get access to indicators, trading strategies, news, tournaments, and the history of your account.
Overall, you can reach every function very fast. The Binomo platform is very good for trading and doing analysis stuff. In the following sections, we want to go more in detail.
Facts of the Binomo trading platform:
- Available for any device
- One-click trading
- Professional analysis is possible
- Indicators and drawing tools
- Chart types
- No laggs and comfortable to trade with
Add indicators to the charts
Indicators are very popular because you can build variable trading strategies with it. Binomo offers more than 20 different indicators and also drawing tools for the analysis. Another important point to mention is that you can customize every tool on the platform. There are a lot of different settings by using an indicator or drawing tool.
Trading tutorial: How to trade with Binomo
As we discussed before, Binomo is offering Digital/Binary Options for trading more than 49 markets. You can invest in rising or falling markets with a limited loss, profit, and expiry time. Before you start trading the outcome of the trade is limited and you know exactly the risk. That is why Binary Options are so possible for beginners because it is not so hard to understand how it works and there are different advantages.
First, choose the market you want to trade and make an analysis. You have to generate a trading idea in which direction you want to invest. Make a forecast of the market direction. Then you choose the investment amount. You can start with only $1. After that, you choose the expiry time of the trade. The trading duration is limited. It is possible to do short-term or long-term trading. Then you invest in one direction. Also, it is possible to open multiple trades at the same time.
Wait for the result of your trading position. The price has to be above or below your entry point (strike price). You can earn a high profit if the market moves only 1 point in the right direction.
Trading tutorial step by step:
- Choose the asset you want to trade
- Choose the investment amount
- Choose the expiry time
- Start trading long or short
- Wait till the expiry time is over
- Make a loss or high profit up to 90%
(Risk warning: Your capital is at risk)
Binomo deposit and withdrawal methods
Binomo accepts a lot of different payment methods. It is depending on your country of residence which payment method is available. You can deposit money with electronic methods like credit cards, e-wallets, or cryptocurrencies. The minimum deposit is only $10 and there are no fees for the deposit.
There are also no fees for the withdrawal. The deposits are instant but the withdrawal can take up to 3 days from our experience. It is depending on the account type.
Binomo payment methods:
- Credit cards
- Jeton Wallet
- Perfect Money
- And more methods
Binomo deposit bonus
The broker is offering free deposit bonuses for each deposit. This bonus can be up to 100%. Before you activate this bonus you should know about the requirements for it. Noone will gift you any money. Keep that in mind. The must be a turnover of 35 – 40 times of the bonus before you can withdraw it. For further information you have to read the Binomo agreement but we can tell you that there is always a condition for the bonus (volume turnover).
Binomo support for traders
Binomo offers 24-hour support in more than 10 different languages for each customer. You can use the phone, chat, or email function to reach a Binomo employee. We tested the support and we can say that the broker responds very fast to our questions. In addition, there is a huge educational area on the platform where you can find the most asked questions quickly.
|Phone, chat, email||24 hours per day||More than 10 languages||+18499366003|
Learn how to trade with Binomo
If you are a beginner in trading, it is hard to find good trading strategies for the markets. On the internet, you will find a lot of different methods to trade the markets. Luckily Binomo offers educational material for each trader. Sometimes there are live-webinars and also you can get coaching from an account manager.
On the platform you will find trading strategies provided by Binomo:
The trading strategies are for beginners and advanced traders. We recommend to start with the beginner strategies and learn step by step about trading. There are a lot of articles and video tutorials where you can learn how to trade. All in all, Binomo knows how to provide a good service for its clients. The broker wants to build a long-term relationship with each trader.
Tournaments and contests
The last point we want to discuss in this review are the tournaments and contests on the Binomo platform. You can join them for free or by paying a small entry fee. You will get a separate trading account where you are able to trade and win prizes. There are contests with a small and a big prize fund. It is depending on the tournament.
On the left side of the Binomo trading platform, you get access to the tournaments. It is a good way to earn additional money when you are a good trader. The first 10 traders will win a prize. But keep in mind you have to be very good at trading. In conclusion, the tournaments are another advantage of Binomo. There are only a few brokers who are offering trading contests.
Conclusion: Binomo is a reliable online broker
On this website, we showed you the facts and results of our test about Binomo. We tested this broker with real money and now we can say that this is a legit company to trade with. Binomo is offering very good conditions for every customer. There are no hidden fees or scam tactics.
You can start with a small amount of money or a free demo account. Moreover, the trading platform is perfect for beginners or advanced traders. Use the desktop version or mobile version. There are a lot of tools to analyze the markets. You can earn a high yield of up to 90% in 60 seconds. Customize the orders as you want.
From our experience, we can recommend the online broker Binomo for everyone who wants to invest online with small to big amounts of money.
Advantages of Binomo:
- Legal and regulated Company
- Start with a free demo account
- Only $10 minimum deposit
- Only $1 investment amount
- Professional trading platform
- More than 49 markets to trade
- Return on investment up to 90%
- Short-term and long-term trading
- 24-hour support in different languages
- Education material and trading strategies
- Contests with huge prize funds
Binomo is one of the best platforms for trading Digital Options. The company is offering comfortable conditions for each customer. (4.7 / 5)
(Risk warning: Your capital is at risk)