Established in 2014, Binomo is a binary options broker registered in Seychelles. They offer high quality binary options trading for many types of traders, and potential traders such as yourself. The company currently has a FMRRC (Financial Market Relations Regulation Center) certificate from the financial regulators in Russia, meaning that Binomo is regulated and has full license to operate binary options trading. Their minimum deposit amount (only $10) and minimum trade amount (only $1) make Binomo a low-risk broker for any new trader who does not want to make a massive initial investment. If you are a beginner and you want to try trading, then Binomo would be an excellent choice. Let’s review the platform together.
Binomo Platform Details
|Regulation||Financial Market Relations Regulation Center (FMRRC), International Financial Commission (IFC)|
|Minimum Initial Deposit||$10|
|Minimum Per Trade||$1|
|Demo Account||Yes, with $1,000 preloaded|
|Option Types||Binary Options|
|Asset Coverage||Cryptocurrencies, Stocks, Indices, Commodities|
|Payment Methods||Mastercard, Visa, WebMoney, Yandex.Money, QIWI, Neteller, and more|
|Trading Platforms||Web, Android, iOS|
Trade Types And Payout Percentage
Binomo only has 70 assets available to account holders, compared to the usual 100 or 150 assets offered by other brokers. Binomo’s payouts range from between 70% – 87%, which depends on the type of account that you have. For beginners, you can consider choosing their standard account, and then once you become more experienced, you can upgrade to the VIP account for higher returns.
These are the classic types of binary options trades and are known as the Call/Put options. The aim is to predict whether the price of the asset that you select will go higher or lower than the current price by the expiry time. For example, you believe that EUR/USD will be higher than 1.15 in the next 5 minutes, so you invest $10 with a payout of 95%. After 5 minutes, if you are correct, then you will receive $19.50 USD in your account.
Binomo offers many tools for its customers, along with a wide range of available options and underlying assets to choose from (more than 70 assets). You can earn at anytime and anywhere with the Binomo app for iOS and Android.
Regulation (Governmental Authority)
Binomo (registered as Tiburon Corporation Limited), is a company incorporated under the laws of the Republic of Seychelles (registration number 187026) with head office at:
Suite 1, 2nd Floor, Sound & Vision House, Francis Rachel Street, Victoria, Mahe, Seychelles
The HQ of the company is located at:
Dolphin Corp., 1st Floor, 1st St. Vincent Bank Ltd. Building, James Street, Kingstown, St. Vincent and the Grenadines
Binomo is certified by the CROFR and all of the risks of their clients are insured in accordance with the current laws, which makes them one of the safest brokers in the binary options industry. All trading products are transparent to the trader, with no hidden fees and no hidden information.
Bonuses and Promotions at Binomo
Welcome bonuses seem to range from 25% to 100%. One example of this is the bonus that allows you to make a deposit and get up to $150 USD of free options. Please check their website for updated details.
Binomo’s Free and Effective Demo Account
Binomo offers a demo account which gives you virtual funds of $1,000. You only need an email address to try this trial account. When you trade with the demo account, you can also contact their friendly customer service team if you have questions regarding trading and investing.
Why should I trade at Binomo?
Many beginners read about binary options and then become afraid of depositing their funds online. Yes, there are fake binary options brokers, and you should be careful. However, credit cards are usually not useable on scam websites, but Binomo has strong partnerhsip with Visa and Mastercard, meaning that your payment is safe, and therefore Binomo is safe. This broker protects its traders with modern SSL encryption technology, approved by Visa and Mastercard.
Binomo has won prestigious awards which strengthens the broker’s international recognition on the market: Forex Expo Awards 2015 (“Best Broker of Binary Options for Beginners”), IAIR Awards (Broker of the Year in the category “Binary Options”), IAFT Awards 2016 (“Innovative Broker”).
In total, Binomo seems to be a good choice for new traders. One major reason is that they offer a minimum deposit requirement of just $10 and a minimum trade amount of $1 per trade. This is very manageable and reasonable, which is great if you are a new trader and you just want to try the platform.
Customer support seems to be of high quality, and the mobile trading experience is suitable for trading on the go (with good ratings). The site is intuitive and easy to navigate. In our opinion, if you are looking for a broker that suits the first-time trader, then Binomo seems like an excellent choice.
If you want to begin your trading career at the trusted Binomo platform, click [here] to get their risk-free DEMO account with $1,000 preloaded.