BINOMO REVIEW:
Trading Platform, Commission, Leverage & more

What is Binomo? Binomo is a binary options broker known in the market as a trader with low trading requirements, as well as a number of other useful features for both beginners and experienced traders. Binomo was created in 2014 and is a specialized easy-to-use service for binary options traders. Binomo is a decent online trading platform!
February 15, 2021

Review of Trading Platform: Binomo

The rapid development of binary trading has led to the appearance of a huge number of broker companies that are actively competing for clients. And many of them have managed to gain a good reputation and trust of the traders. However, it becomes more and more difficult to choose the most successful resource for trading binary options, because they all look promising and reliable. Therefore, in order to make the really right choice, you have to conduct a thorough analysis of competitors. Before choosing a broker, it is advisable to compare several of them with each other. In this review, we will compare Binomo and IQ Option online trading platform. Our comparison will be based on the key features of both brokers. Let's decide together which of them will best meet all the requirements of the pickiest trader.
Open an account and start trading
Open an account and start trading

Registration and Regulation

Binomo is a fairly young platform for trading financial assets that operates since 2014 and is represented in 133 countries. The client agreement on behalf of Binomo includes the offshore Tiburon Corporation Limited, registered in Seychelles. The Cyprus company Stagord Resources Ltd is mentioned as the management company.

IQ Option has existed since 2013 and is based in Cyprus, where it is regulated by the Cyprus Securities and Exchange Commission (CySEC). Outside Europe, IQ Option operates under the name IQOPTION LTD. This company is registered in the state of Saint Vincent and the Grenadines. The only disadvantage is that the broker does not cooperate with traders from certain countries that include the USA, Canada, Australia, and some other.

Active traders

Binomo app is being used daily by 900 000 traders who are signed up on the platform.

Almost 17 million traders from 180 countries of the world are registered on IQ Option trading platform. According to the latest data, the broker makes about 3 million transactions per year, and the monthly turnover is over $10 billion.

Account Types

Binomo international operator offers the following trading accounts depending on the level of initial investment:

  • Standard account is a minimum trading account with an investment level of $10. It allows you to get full access to all trading, technical and support services.
  • Gold account requires a trading deposit from USD 500. It has a certain level of advantages in the form of access to more liquid assets and the possibility of cash back up to 5%.
  • VIP – it is the largest trading account in terms of the initial investment. Binomo cash investment here starts from 1000 USD. But it gives you access to the widest selection of additional services - work with a personal manager, the minimum period of profit monetization is 4 hours, additional exclusive conditions for working with the trading platform.

IQ Option offers 2 types of accounts to its clients. A standard account requires a minimum deposit of $10. Registering this account, traders have access to all financial instruments and can invest as little as $1 per deal. There are no limits to the maximum sum you can invest per trade. The IQ Option VIP account requires a minimum deposit of US $1900 or at least US $15,000 in 3 months. VIP account is not available for EU citizens. VIP account holders benefit from faster withdrawals, account managers and free trading e-books.

Types of assets

Both platforms offer dozens of trading assets. The list consists of digital options, Forex, stocks, commodities and cryptocurrencies. Such a diverse range of financial instruments is probably the main reason for the explosive growth of these brokers.

The Profitability of Trades (for Options)

Both IQ Option and Binomo customer reviews mention high profitability from one trade. For IQ Option, this indicator is from 70 to 85%, and can reach as much as 92%, which very few brokers can offer for classic or short-term binary options. Binomo traders can get 87% of profit and even 89% with the VIP account.

Payment Methods

For the convenience of customers, both brokers have provided many ways to deposit/withdraw funds. They are as follows:

  • Bank cards (VISA, MasterCard, Maestro, MIR).
  • Payment services (Skrill, Neteller).
  • Electronic wallets (Yandex.Money, QIWI, WebMoney).
  • Bank transfer.

Binomo funds are transferred using one of the most reliable and advanced SSL systems. Money is transferred to the trader's trading account instantly. It is a decent response to those who say Binomo is fake. The minimum deposit amount is $10, which allows you to start trading in the futures options market almost from scratch. The terms of withdrawal are from 1 to 3 business days.

IQ Option does not charge a commission when depositing or withdrawing funds. The exception is bank transfers. The minimum deposit amount is $10, minimum withdrawal is $2. Before taking profit from the site, you will need to send a copy of your passport and go through authorization. The money is credited to the account within 1-3 days or several hours from the moment the application was created.

Bonuses

On platform Binomo, the nature of the gifts for regular customers also depends on the amount of deposit. After the funds have been received, the system automatically sends a notification about the present. These may include monetary incentives for the account, a wider set of tools and data for organizing trades, etc. A large number of bonus coupons from Binomo are available for new and regular customers, almost all of them are fixed and constantly valid.

Binomo promo codes are issued every 1-2 weeks. They enable users to successfully save on deposits and receive bonuses. Most of the service offers can be divided into several types:
  • A trader gets options.
  • Your deposit is increased from 30 to 60%, which are credited to the account immediately after entering the code.
  • Guaranteed additional cash gift.

There are also Binomo bonuses, which open access to exclusive tournaments, allow unlimited trading on a demo account, etc.

IQ Option gives bonuses for each account replenishment in amount from 25 to 34%:
  • for 10 and 50 dollars. the bonus is 25%, that is, the account owner will receive 12.5 or 62.50 dollars. respectively;
  • for 100 dollars. - 127 dollars. (the bonus is 27%);
  • for 250 dollars. the bonus will be 29%, that is, the account will be replenished by $322.50;
  • by contributing $500, the user will receive $650. (bonus - 30%);
  • for $1,000–1320 dollars. (bonus - 32%);
  • when making a deposit of $3,000 the client will receive a maximum bonus of 34%.

Customer Support

Binomo trade reviews prove that the technical team works 24/5 and is available in a few languages. Each trader is assigned a personal consultant. This approach allows you to quickly resolve any emerging issues and difficulties. To contact a support specialist, you can use one of the convenient methods:
  • hotline phone - 8 800 555-71-85;
  • skype - support.binomo;
  • e-mail - support@binomo.com;
  • feedback form is available on the broker's official website.

According to the Binomo broker review, the quality of its client support is at a high level, which speaks in favor of Binomo rating.


IQ Option provides technical assistance 24/7. If you have any questions, you can contact the operator through:
  • online chat;
  • hotline phone: + 7 800 333 47 55 (free of charge);
  • e-mail: support@iqoption.com;
  • you can also ask a question using the feedback form available on the site.

Leverage

Leverage isn't a part of the the Binomo platform offering. For traders who consider leverage to be a dealbreaker, looking elsewhere might be their best bet - IQ Option

Advantages and disadvantages of Binomo

The broker has undeniable benefits:
  • Easy start. Every user can open a real account depositing only $10. It opens up access to all the platform's functionality, including the ability to participate in traders' tournaments.
  • Demo account. The chance to test the service is attractive not only for beginners but also for experienced traders. In the first case, we are talking about teaching how to trade, and in the second case, it is a perfect chance to test risky strategies and play.
  • Analytics. The broker allows its users to conduct technical analysis besides trading in fixed contracts. It offers a number of different strategies for market forecasting.
  • Customer-oriented payment policy. Payments are the weakest point of most brokers as you can see in online reviews. But when it comes to Binomo feedback, you will almost never find users' complaints in this respect. Most comments unanimously prove that all transactions are carried out in accordance with Binomo details described on the official site. Traders are offered a large selection of payment systems depending on the country of residence of the trader.
  • Tournaments. They are an exclusive feature of platform Binomo that makes it highly competitive on the market. On other sites such activities are not regular and are carried out within the framework of special offers. And it is what Binomo treats as the priority task. The company holds both a daily free tournament with a $300–600 Binomo funds, and paid ones with a fund from $1,500 to $75,000 and more.
  • Onboarding for beginners. The company paid enough attention to newbies since it was launched. Over time, the site audience has considerably grown. But the broker does not stop its educational policy. Thus it gained its reputations as one of the best platforms for new traders.
  • Round-the-clock performance. The range of assets offers, firstly, cryptocurrencies, including a unique crypto index (CRYPTO IDX), and secondly, OTC currency pairs.
  • Mobile App. Anything you can do on your desktop, you can also do from your smartphone.
It would be fair to mention some shortcomings of the platform:
  • A relatively small assortment of assets. Though it is not a very serious drawback. When compared with forex dealing centers, Binomo offers 45 different types of assets. But some of its competitors offer up to 100. However, Binimo trade review shows that more than 95% of active traders prefer standard assets, so they do not think this fact is actually a disadvantage.
  • Access is closed for traders from the United States and a number of European countries. But at the same time, Binomo is an international company operating in dozens of countries around the world, including states in Asia, South America, Oceania, the CIS, etc.
Pros and Cons of IQ Option
Among the significant advantages of the service the users admit the following ones:

  • Automated system for processing applications for withdrawal of money - 72% are processed within a few minutes, 28% during the day.
  • A wide selection of assets from different market segments: cryptocurrencies, stock and commodity assets, currency pairs.
  • Return rate up to 45% for wrong forecasts. A very useful feature that most brokers do not have. If you are not completely sure of the correctness of your choice, then it does not matter. Indeed, even in the event of an unsuccessful transaction, the broker can return you up to 45% of the invested funds.
  • Available deposit amount for beginners - the minimum sum is only $10.
The broker is often criticized for:

  • The inability to trade around the clock for some instruments;
  • The absence of fixed interest on payments (the algorithm for changing it is not transparent);
  • The service is not available in many countries.

FAQ about the Binomo trading platform

1
Is Binomo legal in Malaysia, India, Indonesia and South Africa?
Yes, Binomo is a licensed, binomial company in Malaysia, India, Indonesia and South Africa.
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2
Is Binomo safe?
Yes, Binomo is safe. Binomo is a legitimate online trading platform that is used by thousands of traders everyday from 133 different countries across the world. Binomo is not a scam.
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Key Takeaways

It is an essential condition to find a reliable platform for binary options trading as it drastically increases your chances of successful trades. There are many brokers on the market, and their features may significantly differ. Every trader has favorite sites. This tutorial will help you better realize the benefits of IQ Option and Binomo option trade. The main benefits of these resources are minimum investments to start trading, plenty of educational materials for beginners, and free demo account. In both cases, you can test the service before proceeding to IQ Option or Binomo real account. Moreover, you are welcome to read another review on Binomo and IQ Option brokers to learn more feedback from real customers. The more information you get, the higher are your chances to become a professional trader and receive decent profits.
Open an account and start trading
Open an account and start trading

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