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Independent rating of Forex broker Binomo

5/10 (votes 100)

On-line since
2014
Country of origin
Cyprus
Regulation
FMRRC
Payment options
VISA, MasterCard, Maestro, QIWI, Webmoney, MoneyGramm, NETELLER, Skrill, Western Union, wire transfers
Minimum account size
$10
Minimum lot size
1
Leverage
-
Spreads
-
Binomo is a European brokerage company. The brand is rather new as it was founded in 2014. Broker’s activity is regulated by the Financial Market Relations Regulation Center. The company provides its clients with access to options trading.
Binomo enables traders to choose from the most traded options such as binary, long-term, and pair options.
Importantly, the company provides all its clients with various training materials. On the broker’s official website, novice traders can find all needed tutorials, which are free of charge.  Besides, clients can always receive analytical support from experts at the company.
Binomo offers its clients trading via the SpotOption platform. Available applications for both mobile devices and tablets make trading even more convenient
According to the trading terms of this broker, the minimum deposit starts from $10 and minimum trade size is as low as 1 lot.
In addition to such attractive trading conditions, broker’s clients can get bonuses up to 50%. According to company’s statistics, investors can gain profits up to 94% trading with Binomo.   Unfortunately, the company does not offer free demo accounts to its clients that could be a serious drawback to cooperate with the broker.
You can get more information about trading with Binomo if you read the feedback on the company’s activity from real traders.

Comments

Author: Nathalie Date: 2021-02-16 02:14:49 (UTC+3)
I did not like the performance of the trading platform of Binomo. The order execution is slow, and it is causing me to lose my money. I would not recommend them as a good broker. Their list of trading instruments is not complete, and the website is not intuitive and user-friendly at all. The platform is difficult to navigate, and my pending orders are not always processed. I should wait more than two weeks to withdraw my profits successfully. A lot of time and delays, it's really wasting my time. So, I decide to stop trading with them.
Author: Zaidi Date: 2021-02-03 06:06:28 (UTC+3)
Oh please, Binomo is a terrible broker! I had an account with them last year but all of my funds just went to the trading fees. Their spreads are too wide and it's not fair to the clients anymore. I had to close my account already before I incur more losses.
Author: Qesnatul Date: 2020-12-14 07:51:12 (UTC+3)
I have started option trading with Binomo around three months ago and I am extremely satisfied with them. Before Binomo I had did binary trading with two others but their SpotOption platform is the so far better than my previous broker. Their SpotOption platform is the perfect platform for binary trading. My opening invest was $650 and I withdrew my two months profit $570 through QIWI, it was just take less than 2 hours after confirmed from my e-mail. I will put my 2nd withdrawal tomorrow and expecting also this time they will processed it as like previous one. I highly recommend trading with Binomo for option trading!
Author: Ersoy Date: 2020-10-20 03:20:30 (UTC+3)
My trading experience with Binomo is worst. I found that their trading platform is very unstable, a lot of distractions. Also, their customer support can only be reached at a time when a certain time, not online 24 hours and the service is so unfriendly. I often had difficulty opening the website provided by Binomo. I should provide crucial information to all traders who want to join with this broker. Now you must think about it, stay away from this broker is better than wasting money and time trading with them.
Author: Hedia Date: 2020-10-09 06:06:33 (UTC+3)
Don't bother opening an account at Binomo. I only ended up throwing away $200 because I opened an account at this broker. Their spread is too wide that it is almost impossible to close at a winning position. Also, their trading platform is not the best that I have seen. In fact, it is way worse than the others. It kept lagging and crashing sometimes. How would I be able to make a trade smoothly with this kind of platform?
Author: Manmohan Date: 2019-04-28 07:14:23 (UTC+3)
If you ask me it is Binomo, a s a newbie in the trading matter, it is really easy and simple to understand and use. the assisstance is there 24 hours and anybody can get help if they afre stuck. Also innitally when i started i put in INR 4000 for withdrawal and i recieved it in 9 minutes. It has seen drastic growth in the last 2-3 months.
Author: Paridhi Date: 2019-04-26 12:44:21 (UTC+3)
Hello To All, Binomo is a platform for all, its is easy to use and trustworthy too. It is pretty convenient to trade using the Binomo platform. Well, I am no expert in trading though, however I did it very well as Binomo provides support at every step. You can call them anytime. This makes trading risk free, as you get support from the professional team.
Author: pooja Date: 2019-04-26 06:55:05 (UTC+3)
"Hello, I started using binomo last year only and I can say that it is very easy and simple for any newcomer like me in the trading business. I started with less money but the experience that I have gained is tremendous. Low minimum deposit required low bet sizes available, competitive payout amounts. Nonetheless, doing business with it is risky, as Binomo is not properly regulated and its reputation in the industry is not good.
Author: Ballar Date: 2018-09-08 08:36:49 (UTC+3)
I was pleased with the trading experience. While the results of the work are quite satisfactory to me, and on the conclusion of special problems did not arise - I was really pleased with the results.
Author: Romano Date: 2016-10-05 06:50:24 (UTC+3)
A broker with terrible support. No appropriate answers on absolutely clear questions during 3-week mailing and live chatting with support team, after the loss of money due to technical failure during non-farm payroll! Here is my situation: I’ve lost more than 400 US dollars during Non-farm payroll on 05.06.2016 since my order was autoclosed in 1 ms after opening. At once I’ve tried to start the live chat and was to wait for some time during the queue. In live chat after asking my question about autoclosure of my order I was told that since the broker was experiencing technical problems I had to contact support by mail. By mail they asked to fill in the investigation form since I’ve experienced the issue during trading. Then I’ve filled an investigation form, asking to provide an explanation of the situation. The answer was: Your order was margin stopped out as a result of insufficient funds to cover the margin and the order was submitted during market volatility (non-farm payroll), there was a 110 pip spike on USD/JPY and similar movement of other pairs where prices were moving very fast with spreads widening. Since it was a spike, I demanded to cancel the order because spike is non-market quotation (110 pips in 1 ms is anomaly) and it is common practice of responsible brokers to do that. Moreover, I asked to provide the tick chart to prove that spike. I also asked, why have this spike occurred to me and haven’t to other traders I communicate with, trading the same pair with the same broker at the same time with bigger leverages and smaller deposits. I also attached the screenshots of mt4s of these friends. Up to now, I don’t have the tick chart and appropriate comments on this situation (in fact, I’ve received a lot of mail, none answering my questions in appropriate way). I’ve contacted Live chat support, they arranged 2 phone calls to settle the issue but none of them was made. In the last e-mail after the 3d time I asked to provide the evidences, proving the spike or either to cancel the order I was told to find evidences by myself on their servers. Is it appropriate service? Don’t think so.. I am to lodge a complaint to a FOS regulator and appeal to others, experiencing the same issue to use their rights and do the same in order to have the just settlement of an issue. Binomo was the broker, all my friends-traders would advise, but not after this situation. I feel like being fooled, asking to provide trading data but receiving some random information for the third week.

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