The WikiFX Score of this broker is reduced because of too many complaints! The WikiFX Score of this broker is reduced because of too many complaints! The WikiFX Score of this broker is reduced because of too many complaints!
Risk Management Index
Most visited countries/areas
The data are from WIKI Research 2021.08.04 updated
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Basic Information & Regulation of Binomo
Binomo is a Seychelles registered offshore Forex and CFD broker, established in 2014 to provide services to short-term traders and is not currently subject to any effective regulation.
Security Analysis of Binomo
The first and the most rigid indicator to measure a broker safe or not is to see if it is formally regulated. Binomo is currently an unregulated broker, which means that the safety of investors' funds and trading activities are not protected in any way, so investors are advised to stay away from Binomo.
Market Instruments of Binomo
Basic information for investors at Binomo Ping & Regulation
Binomo is a Seychelles registered offshore Forex and CFD broker, established in 2014 to provide services to short-term traders and is currently not subject to any effective regulation.
Accounts & Leverage of Binomo
Binomo offers three types of live accounts: Standard (minimum initial deposit of $10), Gold (minimum initial deposit of $500), and VIP, which requires a deposit of $1,000/euro or currency equivalent. Moreover, Binomo also offers tournament accounts as well as demo accounts (containing 1,000 USD of virtual cash).
Trading Platform Available of Binomo
Binomo offers traders its own internal trading platform and a trading platform with a Mobile App (for tablets, iOS, and Android).
Deposit and Withdrawal of Binomo
Binomo supports traders to deposit and withdraw funds to their investment accounts via VISA, MasterCard, Advcash, WebMoney, Perfect Money, Bitcoin, and Litecoin payment methods with a minimum deposit amount of $10/￡10 or equivalent amount of other currencies.
The main disadvantages of Binomo are:
1. No regulation
2. Non-MT4 trading platform
3. No information on product spreads provided
4. Not providing services in popular regions such as the United States, Canada, Australia, etc.
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