Binomo featured image

Binomo review and test – Is it a scam or not?

When you search 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 eight years of experience, we tested the online trading platform Binomo in detail. Learn more about the offers and conditions for trading limited-time trades. Should you invest your money there? – Find out in our trusted broker review.

Binomo official website
Binomo official website

(Risk warning: Your capital can be at risk)

What is Binomo? – The broker presented

Binomo is an international trading platform for trading different types of assets. 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 additional income.

This broker is active in more than 133 countries and is 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.

Binomo is based in St. Vincent
Binomo is based in St. Vincent

Facts about the company: 

4.7 / 5
🏛 Founded:
💻 Trading platforms:
Binomo Webtrader
💰 Minimum deposit:
💱 Account currencies:
💸 Withdrawal limit:
⌨️ Demo account:
Yes, up to $10,000
🕌 Islamic account:
🎁 Bonus:
Various deposit bonus
📊 Assets:
76 trading instruments, currencies, stocks, indices, and commodities
💳 Payment methods:
Online transfer, Credit- and debit cards, cryptocurrency
🧮 Fees:
📞 Support:
24 / 7 via chat and e-mail
🌎 Languages:
11 Languages

(Risk warning: Your capital can be at risk)

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 that 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.

binomo certificate
Binomo is regulated by the Financial Commission, a reputable and independent regulator

Furthermore, Binomo uses only regulated payment methods for deposits and withdrawals. The funds of clients are managed in a separate bank account. Often you will hear 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

(Risk warning: Your capital can be at risk)

What can Binomo offer the clients? – Trading conditions

Binomo offers to trade and invests in more than 60 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 by Binomo: 

MIN. DEPOSIT:€/£/$10€/£/$500€/£/$1000€/£/$3000
WITHDRAWAL:Up to 3 daysUp to 24 hoursUp to 4 hoursUp to 4 hours
YIELD:Max. 85% in the case of a correct forecastMax. 90% in the case of a correct forecastMax. 90% in the case of a correct forecastMax 90% in the case of a correct forecast
BONUS:Max. 100%Max. 150%Max. 200%Max 300%
CASH BACK:no5%10%15%
SPECIAL:Account managerInvestment insurance, VIP manager, individual offersInvestment insurance, VIP manager with priority access, individual offers

Trading is very risky, and it is possible to lose the investment amount. You can bid on rising or falling prices within a limited time. The profit, loss, and expiry times are always limited, and you know the potential outcome before you invest money. There are only two options: You can lose your investment amount or get a high return on capital, up to 90% in the case of a correct forecast. It is possible to trade short-term and long-term trades.

Binomo offers different markets to trade: 

  • Currencies
  • Stocks
  • Indices
  • Commodities

Beginners can learn more about 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 online. 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% in case of a correct forecast
  • More than 60 different markets and assets
  • Long-term and short-term trading is possible
  • Fast execution of trades

What are the pros and cons of Binomo

Binomo is a very popular binary options trader due to the low minimum investment and the high yield. We will take a closer look at what puts the broker apart from other competitors and discuss the most important pros and cons after carefully testing the site.

Pros of Binomo
Cons of Binomo
✔ Plattform is extremely easy to understand
✘ Only binary options trading is available
✔ Solid selection of indicators and customizable settings
✘ Broker doesn’t accept account registrations from the EU
✔ Regulated by The Financial Commission, with funds up to 20,000 € covered
✘ Some trading pair is only available on higher statuses
✔ Customer support is responsive via chat, waiting time of fewer than 20 seconds
✘No phone support
✔ Regular contests with huge prize funds
✔ Many reviews from happy customers online
✔ Short-term and long-term trading offered
✔ Minimum trading amount is $1

(Risk warning: Your capital can be at risk)

How good is the usability of Binomo

On the first site, the design and set-up, and structure are quite similar to other brokers, what really stands out is the option to load the account with cryptocurrencies. Aside from that, Binomo offers all features you need to get started quickly, including a short, interactive tour after you register for an account. In the table below, you will find our usability rating for Binomo.

General Website Design and Setup
★★★★★ Design and structure make it easy to learn how to navigate on the platform, even with no trading experience at all
Sign-up Process
★★★★★ Fast and easy sign-up process with the interactive tour after the registration
Usability of trading area
★★★★ Is very easy to understand the trading area, decent amount of indicators are available as well
Usability of mobile app
★★★ Android app is great, but on Apple devices, the app has some drawbacks.

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: 

Binomo web trading platform
Binomo web trading 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 into more detail.

Facts of the Binomo trading platform: 

  • Available for any device
  • User-friendly
  • Multi-charting
  • Fast trading
  • Professional analysis is possible
  • Indicators and drawing tools
  • Chart types
  • No lags and disconnect
  • Comfortable to trade with

Add indicators to the charts

Indicators are very popular because you can build variable trading strategies with them. 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 for using an indicator or drawing tool.

Binomo chart indicators
Binomo chart indicators

(Risk warning: Your capital can be at risk)

Trading tutorial: How to trade with Binomo

As discussed before, Binomo offers fixed-time trades for trading in more than 60 markets. You can invest in rising or falling markets with an expiry time. Before you start trading, the outcome of the trade is limited, and you know exactly the risk. But be careful because the price at the end of the expiry time is the only price that matters. It can be an advantage or disadvantage. We had several trades where in the last seconds, the trade become a success or a loss.

First, choose the market you want to trade in 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.

Binomo Trading order mask
Binomo Trading order mask

Wait for the result of your trading position. The price has to be above or below your entry point (strike price). You can get additional income if the market moves only 1 point in the right direction.

Trading tutorial step by step: 

  1. Choose the asset you want to trade
  2. Choose the investment amount
  3. Choose the expiry time
  4. Start trading long or short
  5. Wait till the expiry time is over
  6. Wait for a trade to close – successfully or not

Binomo deposit and withdrawal methods

Binomo accepts a lot of different payment methods. It is depending on your country of residence and which payment method is available. You can deposit money with electronic methods like bank cards, e-wallets, or online bank transfers. 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 offers a lot of different payment methods, but they are depending on your country of residence.

Binomo payment methods:

  • Bank cards
  • ADVcash
  • Jeton Wallet
  • WMZ
  • Perfect Money
  • Payeer
  • and many more methods

In terms of withdrawal, the processing time varies from a couple of days to a couple of hours, in our experience. Depending on the account status, Binomo processes the withdrawal with higher priority. According to their site, the processing time on a standard account is up to 3 days, however, in our personal experience, it took closer to five days for the funds to arrive. To recap, here is how fast you can get your withdrawal, according to their website.

Standard Account
Gold Account
VIP Account
Prestige Account
Up to 3 days
Up to 24 hours
Up to 4 hours
Up to 4 hours

(Risk warning: Your capital can be at risk)

Binomo deposit bonus

The broker is offering free deposit bonuses for each deposit. This bonus can be up to 200%. Before you activate this bonus, you should know about the requirements for it. Keep that in mind. The must be a turnover of 35 – 40 times 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 deposit bonus overview
Binomo deposit bonus

Is there a negative balance protection at Binomo?

Due to the nature of binary options trading, you will never lose more than the amount you place in your trades. If your forecast is correct, you will make a good profit, if you are wrong, you will lose your investment. Depending on your account level, Binomo offers you risk-free trades and may partly or fully compensate your unsuccessful trades in part or in full.

How does this broker make money from you?

Like most binary options brokers, Binario doesn’t charge fees or commissions. But it doesn’t automatically mean they’re on your site. Binary options broker money when the client loses their trades. Essentially, the broker is playing the other side of the trade. This means if you make a bet and win, you’re winning money from the broker, and if you lose, the broker is keeping your money.

Here is a quick example. Assume you’re trading binary options with a Binario who offers a 75% payout on winning trades. You place a $100 trade predicting that the price of Bitcoins will rise within the next hour. If your prediction is correct, you’ll receive your initial $100 plus $75, making a total of $175. If you’re incorrect, you lose your initial $100 investment, which the broker wins.

What are the Binomo VIP and Prestige Status?

If you invest at least $1,000 for a VIP Status or $3,000 for a Prestige Status, you will not only get access to all trading assets, faster withdrawal processing, and a hefty deposit bonus, there are some more benefits associated with the status. These benefits include:

  • Compensation of losses
  • Investing Insurance
  • Access to exclusive offers

Binomo support and service for traders

Binomo offers 24-hour support in more than ten different languages for each customer. You can use the chat or email function to reach the support and service. 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.

Chat, email
24 hours per day
More than 10 languages

(Risk warning: Your capital can be at risk)

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:

Binomo trading strategies
Binomo trading strategies

The trading strategies are for beginners and advanced traders. We recommend starting with beginner strategies and learning 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 is 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.

Binomo contests
Binomo contests

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 ten 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. 

(Risk warning: Your capital can be at risk)

What are the best alternatives for Binomo?

Binary options trading is quite risky but also an easy and convenient way for new traders to gain their first experiences. While most more advanced brokers move on to other brokers after a while, Binomo is still a safe platform to invest you’re found into. However, if you decide Binomo isn’t the right fit for you, here are three of our favourite alternative brokers. logo

Since 2016, has operated as a well-known and trustworthy online trading platform. The broker, which has its global headquarters in London and operations in more than 50 nations, has quickly built a reputation for offering its customers an intuitive interface and cutting-edge capabilities. Over 3,000 markets, including those for shares, commodities, and currencies, are accessible through In addition, clients benefit from a high level of security and trust because of the broker’s regulation by the Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC).


RoboForex logo

On our list of the top Tickmill substitutes, RoboForex is next in line. You can trade a wide range of assets with this broker, and their key selling point is the cheap minimum deposit requirement of just $10. Your money is also very safe because the broker has an official license from the IFSC Belize. Additionally, a sizable business group with its main European offices owns the broker. Finally, Roboforex allows you a lot of versatility by providing a variety of account kinds to pick from.


xtb logo

One of the most well-known broker systems in the industry right now is XTB. Since its 2006 founding in Poland, XTB has experienced rapid expansion. You can trade more than 3,000 different assets with this broker, which are divided into six asset categories. But don’t just take our word for it; XTB has received numerous honors from its clients and is renowned for providing exceptional customer support. For instance, every customer has access to a learning center with a ton of resources and specialized 1 to 1 support for every client.

Conclusion of the review: 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 minimum deposit of only $ 10 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 get a high yield of up to 90% in the case of the right forecast in 60 seconds. Customize the orders as you want.

From our experience, we can recommend the online broker Binomo to everyone who wants to invest online.

Advantages of Binomo:

  • Official and regulated Company
  • Start with a free demo account
  • Only a $ 10 minimum deposit
  • Only $ 1 investment amount
  • Professional trading platform
  • More than 75 markets to trade
  • Return on investment up to 90% in the case of a correct forecast
  • Short-term and long-term trading
  • 24-hour support in different languages
  • Education material and trading strategies
  • Contests with huge prize funds

Binomo Review

Overview and test of Binomo

Trusted Broker Reviews

Trading offers
Customer support


„Binomo“ is one of the best trading platforms, offering competitive conditions and low spreads.


Binomo is one of the best platforms for trading online. The company is offering comfortable conditions for each customer.  4.7 out of 5 stars (4.7 / 5)

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Professional traders since 2013

(Risk warning: Your capital can be at risk)

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Last Updated on June 8, 2023 by Res Marty