Binomo, a brokerage project, has been successfully operating in financial markets since 2014 and today positions itself as a global company, serving clients from India, China, Nigeria, Brazil, and many other major countries. According to its own statements, the broker is regulated and holds the necessary certificates for its operations. In this review, we will verify all the company’s claims and answer the question: “Can they be trusted?”
In brief about the main thing
The first thing the broker reveals about itself is its year of foundation – 2014. This information can be verified independently using the WHO IS service:
The program confirms the company’s claims. This means we’re dealing with a fairly experienced intermediary, which over its eight years of operation should have created ideal working conditions for its clients. The brand is registered in Saint Vincent and the Grenadines, a popular offshore jurisdiction.
According to its official website, the company is regulated by the International Financial Commission. This information is easily confirmed by checking the regulator’s website. You can see a screenshot below:
Well, since the documentation review suggests you can trust binomo.com with your money, let’s move on to examining its trading offerings.
One of the company’s most popular instruments is betting on rising/falling markets (better known as binary options). In addition, they offer over 200 other assets from various markets:
- Forex;
- cryptocurrency;
- stock;
- raw materials.
The company doesn’t offer trading accounts. Instead, all investors are offered a starting deposit of $10. The minimum trade amount is $1. There are no deposit or withdrawal fees. Binomo also claims that binary options trading is profitable in 87% of cases. In fact, many companies are known to abandon this type of financial instrument due to its high loss rate.
Trading platform
The broker offers trading on its own platform, available as a web version and mobile app. It’s open 24/7, even on weekends. Within the Binomo platform, you can also contact technical support or perform a detailed chart analysis. Tools such as indicators, charts, candlesticks, and more are available for this purpose.
Trade execution is described as “very fast,” and the interface is “user-friendly.” Access to the full functionality of the software is available only to registered clients, so we were unable to preview the platform’s features. A demo account with a $10,000 deposit is available.
Honest reviews
Reviews of Binomo vary across different websites. But, tellingly, 90% of them are negative:
Binomo.com may have offered decent trading conditions in its early days, but today, traders claim in their reviews that its team is scammed. Furthermore, the broker is completely closed, registered offshore, and offers binary options, which are banned in many countries. It’s best to find a more reliable option for managing your money to ensure that the company doesn’t intentionally drain your deposit.
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