Binomo Review 2021 - Is it a Good Broker?

With its headquarters in Kingstown, Saint Vincent and the Grenadines, Binomo is an online trading broker that caters to the trading needs of both novice and experienced traders. They have been in operation since 2014 with a strong trading presence in over 133 countries. The broker offers unhindered access to high-quality brokerage services and support, including professional level tutorials, analytical services, and client support. Their quotes are derived from leading world news agencies.
Binomo operates as a binary options platform and has some of the most beneficial trading terms and investment options on the market. They provide traders with an advanced trading platform with a wide range of trading instruments, such as forex, equities, indices, commodities, and more. There are various trading account types to choose from with a required minimum deposit of $10 and competitive commission fees. Also, the minimum trade size is as low as just $1.
Over the years, the broker has bagged several industry awards in honor of their excellent brokerage services, and the awards include the broker of the year 2016 at the IAIR Awards and the best broker for beginners in 2015 at the FE Awards.

Binomo Platforms & Tools
The broker provides traders with the Binomo trading platform, a proprietary trading platform that gives users access to trade multiple financial instruments online. The platform is easy-to-use, which makes it suitable for beginners and experienced traders alike. It features several convenient tools for seamless trading and market analysis.
The broker makes the trading platform available as a WebTrader that can run directly on most modern web browsers, such as Chrome, Safari, Chrome, and Firefox, thus eliminating the need to download or install any additional software, and a mobile app that is compatible with Android and iOS devices. It can be freely downloaded from the relevant app stores. The mobile platform is best suited for traders who would want to get access to their trading accounts and place trades while on the go, as long as they are connected to the internet.



Exclusive Features

The broker gives clients access to some unique features to improve their overall trading experience. They include the trading tournament, which is organized regularly by the broker to allow traders who are trading with the demo or real account to participate and win prizes of up to $190,000 for being the top trader in the contest. The tournaments include the space, fortnight, three days race, golden rush, and more; each of them requires the participants to pay a participation fee to qualify. There is also the VIP membership; it requires traders to fund their account with a minimum of $1,000 and enjoy exclusive privileges, such as increased productivity, regular cashback, faster withdrawals, deposit insurance, effective trading, and daily technical support. VIP members are offered access to trade up to 50 financial instruments.



Binomo Trading Accounts

Binomo offers a choice of three live trading account types to meet the individual trading needs of clients. They include the following:



There is also a demo account, which comes preloaded with $1,000 in virtual funds. It is beneficial for beginners who would want to get themselves acquainted with the broker's platform and also practice their trading strategies with virtual funds, before opening a live trading account.



Account Funding

The broker allows traders to deposit and withdraw funds to and from their trading accounts using various credit/debit cards, including MasterCard, Visa, American Express, JCB, UnionPay, and more. However, there may be additional payment methods depending on your location, but the transaction processing time is largely dependent on the payment method in use.



Customer Service

Binomo has a professional client support team that is always available to respond to clients' general, technical, and account-related inquiries. They can be reached through various contact channels, including email, telephone, and social media, or by visiting their physical office at Kingstown, Saint Vincent and the Grenadines. The broker's website also contains an FAQ section that answers some of the most common questions that traders may have.



Regulation

Binomo is a brand owned by Dolphin Corp. which is a company incorporated in Saint Vincent and the Grenadines with the registration number; 25151 IBC 2018. In May 2018, Binomo became a category A member of the International Financial Commission (IFC), a neutral and independent dispute resolution organization that specializes in financial markets. Also, the broker was successfully audited by the Verify My Trades (VMT) branch of the IFC. However, at the moment, the broker is not regulated by any international regulatory body, such as CySEC. Lack of such regulations can deter traders from opening an account with them.



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Binomo Review Summary

In Summary, Binomo is an award-winning retail trading broker that was launched in 2014 and has grown to become a global brand with a strong presence in over 133 countries across the globe. They operate from Saint Vincent and the Grenadines and gives traders access to trade various financial instruments using their in-house-built trading platform that is available in the web and mobile versions. Traders are provided with a selection of learning materials and a knowledgeable client support team. There are multiple trading account options with a minimum deposit of $10.



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