New Binomo broker review – updated July 7th, 2020.
Binomo is a binary options agent (digital options), famous for devotion to low trade conditions in addition to a selection of other beneficial attributes for new and seasoned traders alike. This overview covers all of the specifics of the support Binomo supplies, in the trading system to trading mobile programs, demo accounts and accounts forms. Keep reading to learn more about if this service is your ideal choice for you.
Binomo founded in 2014 and is a corporation headquartered in Seychelles that is owned by Tiburon Corporation Limited.
Since the beginning, Binomo has been specifically aimed at binary options dealers and thus is a highly specific service.
The platform also provides cryptocurrency, forex and CFD trading in certain form, but that is not the general focus of the agent as a whole.
The agent is presently working as an unregulated provider, even though they’re a member of FinaCom and are currently working towards licensing beneath CySEC. Presently, they’re ranked as ‘Category A’ beneath the IFC, giving them extra credibility to prospective traders.
The Binomo trading platform is designed for the trading of binary options as realistic, easy to use, and convenient as possible.
The company used SpotOption as their platform of choice upon its initial release. But as from there on, the business has moved from ‘outside the box thinking’ options towards their very own, functional layout that satisfies the requirements of its clients.
Developed to incorporate a selection of on-point attributes for dealers, the present iteration of Binomo is anything but generic.
Efficiency and practicality are major points for the agent, in addition to Binomo offering competitive moments to their own trading clients like daily tournaments.
These contests are climbing in popularity for several online brokers. Binomo is also ahead of the curve when it comes to offering a functional, mobile-reactive and advanced platform that really does it all due to their particular client base.
Binomo is host to over 50 different assets which may be traded by dealers signed up for their stage. These resources include a selection of different options and markets to supply transactions with as much selection and flexibility as possible.
Perfect for dealers that don’t prefer to adhere to a particular subject of trade for a long time, and rather prefer to mix up things.
Binomo specialises in high/low trading, so it is not much available regarding other contracts. However, this limitation is easily overcome with all the assortment of alternatives available — an enticing feature to a lot of traders.
Binomo allows the trading of the following resources:
- Money pairings (GBP/USD etc.)
- Gold, Oil and comparable commodities, such as pairings
- Bitcoin, Litecoin, along with other cryptocurrencies
- Popular stocks like Google and Disney
- Indices, including DAX or CAC40
With such a selection of resources and options available to dealers, it is not surprising that Binomo is still a popular service for dealers of all shapes and fashions.
This is particularly true with more specialized resources, like stocks, which might not be accessible from other similarly ranked platforms.
For dealers who deal in crypto, though, a total of just 3 choices are available – that is a substantial decrease in contrast to platforms which specialize in cryptocurrency over distinct resources and alternatives.
Spreads and Commission
Binomo is standard as a binary choices platform because is doesn’t charge any extra fee or price for the usage of the trading and broker services.
This is a superb benefit to traders, since no commission is charged in accordance with their own commission.
Binomo rather makes their cash through the one that’s created when a dealer makes a reduction. This different method of calculating their earnings is excellent for dealers — particularly those seeking to ramp up their trading to another degree.
For VIP customers, there is more incentive for utilizing the Binomo platform. Up to 100 percent on premiums is your norm, and united with the reduced prices and absent prices, Binomo is quickly looking better than ever for seasoned traders — or perhaps the ones that are looking to begin in a large way.
Leverage is not part of the terminology on the Binomo system, which can be fairly normal for binary choices trading generally. For dealers who see leverage for a dealbreaker, appearing elsewhere could be their very best choice. But despite the noticeable lack, there are loads of advantages to Binomo that may compensate for this failing.
Also available through tablet computers, the Binomo cellular program can be obtained for the two Android users and the ones that favor iOS.
Push notifications are utilized as a smart way to maintain traders on their toes and on the lookout for anything – from their existing trades to forthcoming tournaments and competitions.
Although some agents offer reduced performance in the app edition of the platforms, Binomo’s offering is totally functional. Whatever you can do on your desktop computer, you may also do from the smartphone. You may even ditch the background altogether if your taste is currently trading on-the-go.
Binomo is among the increasing number of dealers supplying flexibility and options, which can be a plus point for the support generally.
If you’re trying to find a platform that provides simple and convenient payment, Binomo gets it right.
Since the agent offers their solutions to a diverse and global base of consumers, it means there is far more option based upon where you are.
The advised deposit to your accounts is $500 to begin. If you are smart about it, then you may take advantage of promotions and offers to top up that by 100%.
For those beginning small, the minimal deposit that can be made is 10 — which makes Binomo completely accessible for dealers of all models and sizes.
As with all of the best online agents, Binomo provides a whole and fully-functional demonstration account for prospective clients to test .
All you have to do in order to get into the demonstration site is supply an email, and you will then be installed with $1000 in virtual money to have fun with. While some programs offer you a scaled-down alternative for their demo accounts, Binomo does not hold back in their offering.
It is possible to see a complete picture for all of the characteristics of this platform, without spending a cent.
Promotions and deals
Binomo is well known for its selection of deals and promotions they provide through the year. These include a few of the classics, for example portion top-ups on deposits, in addition to some fantastic sign-up bonuses.
These deals may vary over time, therefore it is ideal to keep tabs to stumble upon something which’s suited to your own trading style.
Along with the sign-up promotions and other deposit bonuses, traders who deposit $500 in their accounts will also have the ability to get a high degree of training and support via an assigned supervisor.
Regulation and Accreditation
Binomo is now considered unregulated at the broker market. On the other hand, the business is now actively working on obtaining CySEC licensing in addition to keeping a Category A tier throughout the IFC.
The agent also holds certain certificates to operate in certain states, though these extra requirements are not listed on their site.
Streamlined, simple to use and functional to browse, Binomo has givens us a very simple platform that is still full of amazing features for dealers to use and execute. These include a variety of different high-end analytical instruments, in addition to an integrated calendar as well as also the tournaments feature.
The focus on the agent is one generating quality characteristics that assist their dealers, so every new addition is strong, well-tested and bug-free once when launched.
Three tiers of account are offered for dealers utilizing Binomo.
Much like many online agents, these various accounts are given depending on the total amount of financing which you put in the platform. This means there is no extra cost or special programme membership necessary to boost your grade — all you want to do is raise the amount you deposit to modify your account type as time passes.
The account forms that Binomo provides are as follows:
- Standard: gives access to the Binomo platform while the tournaments can be accessed with a $10 minimum deposit
- Gold: gives access to strategy ideas and plans, quicker withdrawals and management with a $500 min. deposit
- VIP: gives access to all privilege on the Binomo platform with a $1000 minimum deposit
Binomo makes it crystal clear that standard-tier traders get access to what they have to exchange easily and efficiently. The bonuses supplied to higher-tier customers might be valuable, but they surely are not vital to get everything you can from this platform.
If you are a dealer that is contemplating a binary choices trading platform, then Binomo may be the agent for you. Here are just a few reasons to make this agent your trading system of selection:
- Available and fully operational demo account
- Clear and simple to attain tiering account system
- Just $10 needed to begin trade
- Custom-designed system that works easily on mobile devices
- Lots of additional features and add-ons
There are lots of pros to choosing Binomo over other online trading platforms. There are also a few cons for this particular agent:
- Currently unregulated until CySEC licensing has been attained
- Limitations on popular trading places like cryptocurrency
- No offline desktop software – only online access
- Social trading and other social tools not integrated on the platform
As a global online trading system, Binomo has non-stop accessibility due to their trading solutions — ideal for night owls or people in various time zones. In regards to some attributes, like tournaments and competitions, particular time slots could apply.
Contact Information and Client Care
Binomo easily offers support to their clients via many distinct procedures, the hottest of which is chat.
Live service is available right via the Binomo platform, so dealers do not even have to start a fresh window to talk through inquiries and issues with the service staff. Live chat is not available 24/7 and could possibly be choked up during active periods.
A backup email service service can be provided, which reacts typically within 24 [email protected]
Ultimately, traders can touch base with Binomo right through their speech:
First Floor, First St. Vincent Bank Ltd
St. Vincent and the Grenadines
Security and Safety
By producing their very own protected platform with complete encryption, the agent has created a high degree of security for their clients.
This is coupled with approved and safe payment methods for deposits and withdrawals, further increasing the safety of dealers.
Binomo’s policy says that any client backing up to the value of $20,000 ois protected from fraud if using their platform, plus they use fresh SSL encryption to improve their security even further.
With hacking more prevalent than eveer before for internet trading platforms, it is vital to have the ability to trust your favorite agent from the very beginning.
So what is Binomo like? As a binary choices trading platform, Binomo has all of the features required to encourage traders — both new and seasoned.
Their lack of commission and fees can also be highly attractive to prospective clients, particularly when coupled with a compact and user-focused platform layout. If you are trying to get in binary choices trading, and you are unbothered regarding the absence of crypto on offer, then Binomo could be a safe bet for you.
After certification under CySEC is finished, Binomo will probably be much better opportunity than ever. And of course well worth exploring.
Binomo accepts dealers from Thailand, South Africa, India, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Brokers cannot use Binomo out of Canada, United States, Australia, Mali, Austria, Belgium, Bulgaria, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Greece, Hungary, Ireland, Italy, Germany, Laos, Lithuania,, Malta, Netherlands, Poland, Portugal, Romania, Slovenia, Slovakia, Spain, Norway,, Sweden, United Kingdom, Cyprus, Switzerland, Israel, Singapore, Hong Kong, New Zealand, Iran, Japan, Russian Federation, Belarus.