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Binomo works with clients all over the world, guaranteeing the most advantageous terms and providing high quality access to the world’s financial markets. Binomo is an offshore broker that offers assets of the following asset classes: currencies (FOREX), cryptocurrencies, stocks, and commodities. The broker states that their priority is to offer the highest quality brokerage services and support, including professional level tutorials, analytical services, and client support.
| 🗺️ Registered in | St. Vincent and the Grenadines |
| 🗺️ Type of License | Offshore License |
| 🛡️ Is Binomo safe to trade | No |
| 🗺️ Recommended Licenses | FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺 |
| 🖥 Alternative Broker | FP Markets - licensed by ASIC in Australia |
According to the website, Binomo is a member of the international Finance Commission. Nevertheless, the company operates without a proper license from the industry authorities like FCA (UK) (Also Read about Fortrade, an FCA Regulated Broker) or ASIC (Australia) that protect clients and delivers necessary regulation to the service providers along with the convenience to the users and, of course, their investments.
Unfortunately, it is not the case of Binomo since the company only holds membership in the international Financial Commission (FinaCom). Even though the FinaCom is a well-respected organization, it is a self-regulatory organization which cannot guarantee the safety of the trading environment and does not regulate the daily operations of the company, therefore can’t provide a necessary protection to the client.
From our source, It costs €24,000 per year to become a member. However, there is no handbook or guidelines for brokers to run their business. Therefore, there is zero protection for the traders.
Binomo is owned by Dolphin Corp., which is an offshore company registered in St. Vincent and the Grenadine.
However, the fact is that St. Vincent and the Grenadines is an offshore zone, which does register the financial investment firm, but provides very poor if none requirements to the company operation. That means, the broker is not regulated, not overseen and does not comply with strict international rules that provide protective measures to the traders.
Therefore, it became an offshore zone for shady forex brokers such as CVC Markets, AAG Markets and more. Read more about St. Vincent and the Grenadines regulation by the link.
In addition, the broker has recently been blacklisted by the Cyprus Securities and Exchange Commission (‘CySEC’):
“CySEC wishes to inform investors that the website binomo.com, does not belong to an entity which has been granted an authorization for the provision of investment services and/or the performance of investment activities.”
As per the Binomo website, it is legal to trade Binary Options (Check The List of Binary Options Brokers) with Binomo from India. Now, the addition of Indian payment systems like PayTM, UPI, NetBanking, IMPS, and Globe Pay assures its legal status in India.
Binomo doesn’t accept traders from the United States (Find out Best Forex Brokers for US Clients) and European countries.
The minimum deposit required depends on the type of account traders want to open. They can get started trading with $10 with a Standard account, but for a VIP account, the minimum deposit is at least $1000. There might be a 10% fee for the withdrawal of the funds if a minimum number of trades were not made.
There are several payment methods available to Binomo’ clients: Bank Wire and the following Credit cards: Visa, MasterCard, and VPay. Popular e-payment systems like Skrill, Neteller Webmoney, Yandex.Money, QIWI, Neteller are also supported by this broker.
Binomo offers a mobile trading platform. It can be found in the Apple Store for iOS or the Google Play Store for Android. One feature available on the app that is not available on the web platform is the option to receive notifications. Notifications can help maximize the profits by alerting traders to market trends and letting them know when they meet certain trade preconditions.
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 money.
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.
Overall, the company offering is among the competitive ones along with its reputation, but generally, options are a high-risk investment due to its nature of trading, as well as the unlicensed environment of the Binomo company puts some question marks either to enter the trading or not.
We advise all investors and traders to avoid Binomo and other brokers from St. Vincent and the Grenadines. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as ForexTime Limited and XM.com. Read about InstaForex too.
You can also share your trading experience with Binomo by commenting on this review.
Reply to comment #1269
<p>Hai Sitam Nuptse,</p> <p>Our Company is not a scam. It was founded in 2014. We are a reliable certified trading platform and also a member of the Financial Commission.</p> <p>Specify, please, what exactly do you mean? What is the reason for your statement?</p> <p>Thank you for contacting us.</p>
<p>All gambling/trading of this type is a scam against your own soul.<br> Foolish humans. Even if you become the richest among them, as your last breath departs and “The reality” becomes apparent, so with “The regret”. </p> <p>Not often do I advise but often when some amongst you think the play must always win, we let you trip, only to make your resolve stronger, so ultimately the regret will be more confounding.</p> <p>Yes of course this is nonsense, look at your own hands. It is not time yet for them to talk.</p>
Reply to comment #1267
<p>Hello, Our platform is not a scam. Binomo has been on the market since 2014, and currently, the company has more than 16 million clients worldwide. We’d like to understand the issue and help you with it. Please shoot us a message at with relevant details. We’ll be more than happy to assist you. Thank you!</p>
Reply to comment #1266
<p>Hey guys, I think binomo is a scam!<br> I also checked this article which mentioned all the facts about it</p>
<p>Bro,<br> Same reason i lost money. its shows like that because without your knowledge it will automatically trade multiple times. It happened to 6 times. i lost 35,000. After that i have sent mails. No response after 1 week i added 65,000 in order recover all amount i lost it while playing. i lost 1,00,000. Because of that error must have added extra amount. They always ask screenshots. Even you share with them. They will always ask them. they will solve it. If your not rich don’t play it. Main part is you will not find dolphin corp official page and owner of it.</p>
Reply to comment #1264
<p>Hello, Rohit Jakhu! We will do our best to address your issue as soon as possible. Please send the details below to from the email address linked to your account. the date, time, amount, and transaction number (we recommend attaching a screenshot so we can reach a resolution faster) We care about your personal data, so please note that your request should be sent to . We cannot carry out verification on the basis of social media for safety considerations.<br> Thank you for your feedback!</p>
<p>Hi<br> I am trading with binomo. I have placed a trade of 70 INR but when its placed its showing 10,400 INR. I have lost that money.</p>
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