4.7 / 5
Rating of the Binaryoptions.com team

Binomo review 2024 | Is it a scam or not? | Broker test

  • Low minimum deposit of $10
  • Easy platform to use
  • $1,000 demo account
  • Fast payouts
  • Free bonuses
  • Trading contests

Is Binomo a scam or a reliable Broker for Binary Options? – Read more about it in this review of 2024. Nowadays, it is hard to find a good broker because diversity is quite large, and there are some scams outside. In this Test, I will show you the facts and conditions of Binomo for traders. Is it worth investing in real money or not? – Find it out in this article.

The official website of Binomo
› Sign up with Binomo for free now

(Risk warning: Trading involves risks)

Quick facts about Binomo:

⭐ Rating: (4.7 / 5)
⚖️ Regulation:✔ Regulated by the IFC, certified by the CROFR
💻 Demo account:✔ (available, unlimited)
💰 Minimum deposit10$
📈 Minimum trade:1$
📊 Assets:200+, Forex, Commodities, Stocks, Cryptocurrencies
📞 Support:24/7 phone, chat, email
🎁 Bonus:100% deposit bonus on the first deposit
⚠️ Yield:Up to 87%+
💳 Deposit methods:Credit cards, E-Wallets and Cryptocurrencies. The payment methods include: VISA cards , Mastercard, WMZ, Neteller, QIWI Wallet, Bitcoin, Litecoin, Perfect Money, WebMoney and more.
🏧 Withdrawal methods:Credit cards, E-Wallets and Crypto. The payment methods include: VISA, Mastercard, WMZ, Neteller, QIWI Wallet, Bitcoin, Litecoin, Perfect Money, WebMoney and more.
💵 Affiliate program:Available
🧮 Fees:Commissions and spreads apply. No additional fees. No hidden fees.
🌎Languages:13 languages available, including: English, Portuguese, Kazakh, Bengali, Arabic, Ukrainian, Indonesian, Spanish, Chinese, Thai, Vietnamese
🕌 Islamic account:Not available
📍 Headquarter:Bridgetown, Saint Michael, Barbados
📅 Founded in:2014
⌛ Account activation time:Within 24 hours
› Sign up with Binomo for free now

(Risk warning: Trading involves risks)

What is Binomo? | The broker presented

Binomo is an international broker for Binary Options. The company was founded in 2014 and is based in Seychelles. The website is run by Tiburoan Corporation Limited and they got branches in different countries around the world. At the moment, the most active countries are India, Indonesia, China, Brazil, Nigeria, and Asia. The broker is regulated by the IFC (International Financial Commission) and certified by the CROFR. This information about the broker makes a first good impression on me.

See my full video about this broker:


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The broker provides you the opportunity to bet on rising or falling markets with Binary Options to get a high profit in a short time horizon. They offer a diversity of more than 200 assets to invest in. The customer base has been rising continuously since the start of the company. In addition, the Binomo always tries to improve its service and offers for traders.

Binomo is available for desktop, tablets and smartphones

First facts about Binomo:

  • Broker since 2014
  • Based in Seychelles with different branches
  • Regulated
  • Start with a small deposit
  • High asset profit
  • No hidden fees
› Sign up with Binomo for free now

(Risk warning: Trading involves risks)

The pros and cons of Binomo

Although the binary trading platform is popular, it does have its drawbacks. Many traders appreciate the low minimum deposit of $10, which makes the platform attractive for beginners. Unfortunately, the trading conditions on Binomo are not the best, especially when comparing Binomo to other binary brokers. Below you will find a comparison of the pros and cons of the trading platform:


  •  Regulated
  •  Start with a small investment amount
  •  Flexible platform
  •  Huge asset diversity
  •  Profits of 87%+ possible
  •  Fast trade execution
  •  Fast withdrawal system
  •  Bonus program


  • Little choice of timeframes on the trading platform
  • They might ban your account without warning
  • Not the highest yields compared to other binary brokers
  • The problem-solving process with Binomo seems to be unprofessional
  • Some traders report losing their money on Binomo

Is Binomo regulated? – Regulation and safety of the broker

Binomo reglation and certificate

Many traders are asking: Is Binomo safe? – The truth is that the company has been regulated by the IFC (International Financial Commission) since May 2018. In addition, the broker is certified by the CROFR. That makes Binomo one of the safest in the CIS. The regulation is very important for international traders. If there is fraud, the broker will lose the license quickly.

The IFC is an independent and neutral commission for the financial markets. The broker is a member of category “A”. This is the highest level you can achieve by this regulation. In other words, there are different benefits for traders now:

Reasons why Binomo is a safe broker
  • Protection: Clients’ funds are protected for up to 20.000€. This is a compensation fund that covers the amount. In the unlikely event, the fund would cover you if the broker goes bankrupt.
  • Court: Traders get access to a neutral and international tribunal and judgment. If you got any problems with the broker, you could complain to the IFC.
  • Fast Support: The IFC provides you with fast service and support. There are working employees all around the world.

Some facts about the security of Binomo:

Data protection:Yes
2-factor authentication:No
Regulated payment methods:Yes, available
Negative balance protection:Yes
› Sign up with Binomo for free now

(Risk warning: Trading involves risks)

Overview of the conditions and offers for Binomo traders

Choosing assets to trade on Binomo
Tradable assets on Binomo

Binomo offers to invest in rising or falling markets with Binary Options. It is like betting on a certain time horizon (read more below). There are more than 100 different assets to trade. You can trade Forex, Stocks, Commodities, and Cryptocurrencies on the platform. Another point to mention is that the broker works 24/7. You can trade on the weekend with a high return on investment.

Beginners or advanced traders can start with a minimum deposit of 10$. This is a very small amount of money and clearly an advantage of Binomo. Also, the minimum investment amount for a trade is 1$. You can trade any asset for only 1$ and without fees. In conclusion, the conditions are one of the best in the world compared to other Binary Options Brokers.

The asset profit is high at 87% for Binary Options. You can trade short-term or long-term traders. There is a big diversity of expiry times. If you add more than 1000$ to the account, you will get VIP status with a higher asset return. Besides, there are no hidden fees for you! They do not charge you any commission of deposit or withdrawal funds.

Quick facts about the offers of Binomo:

Minimum trade amount: From $1
Trade types:Binary Options, digital options
Expiration time:Short-term (1-5 minutes) or long-term (15-60 minutes)
Leverage:Up to 1:100
Markets: 100+
Maximum return per trade:Up to 87%+
Execution time:1 ms (no delays)
› Sign up with Binomo for free now

(Risk warning: Trading involves risks)

Test of the Binomo trading platform:

Screenshot of the Binomo trading platform

Is the trading platform of Binomo good as it looks? In this section, I will show you transparently the platform and the functions for traders. Binomo offers a web platform and a mobile app. On the platform, you get direct access to more than 100 assets. The platform works 24/7 and you can trade on the weekend Cryptocurrencies. Binomo provides video tutorials and guides for beginners to learn more about the platform. In addition, you can ask for support for help.

The platform is unique and programmed by the broker. The platform looks clear and well structured for the first impression. It is possible to customize it and do an extensive analysis of the chart. Use different chart types, indicators, or other tools for technical analysis of the asset. After that, you can make your forecast and earn a high amount of money.

binomo trade history
The Binomo trade history

Furthermore, the trade execution of Binomo is one of the fastest. There are no lags or connection problems.  The platform works smoothly and is very flexible too. You can customize the chart as you want.

On the right side, you see the trading dashboard for the execution of traders. It is clearly structured and you can use hotkeys for trading. This is a unique advantage of Binomo. On the left side, you get access to different options of the broker. Look at your trading history, learn new strategies, use the news calendar, and more.

On the upper side, you can choose any asset for trading. It is possible to use multi charts and open more than 1 chart. So you can switch easily and simply between different assets to carry out different strategies. In conclusion, the trading platform is easy to use for beginners and advanced traders. There are a lot of functions for trading success.

Facts about the platform:

  • Multi-charting
  • More than 20 indicators
  • More than 100 assets
  • Flexible
  • Customizable
  • User-friendly
  • Mobile Trading (download the app)
  • Very fast trade execution
› Sign up with Binomo for free now

(Risk warning: Trading involves risks)

Professional charting and analysis are available

Available chart types on the Binomo platform
Available chart types on the Binomo platform

For successful trading, charting, and analysis is very important. In the next section, I will show you the functions of the trading platform. With Binomo, you can use more than 4 different chart types, which a necessary for professional strategies. The best-known chart type is candlesticks. With special patterns, you can predict the turnaround of the market.

Chart types:

  • Mountain chart
  • Line chart
  • Candlesticks
  • Barchart
Charting on Binomo

Use more than 5 different timeframes for the analysis. This is a little disadvantageous because other brokers provide more than 5 different timeframes for the chart. It is important to choose the right timeframe for the setup of a Binary Options trade. The financial product depends on a certain expiry time.

Expiry time:

  • 5 seconds
  • 15 seconds
  • 30 seconds
  • 1 minute
  • 5 minutes

For technical analysis, you can use technical drawing tools or indicators. There is a huge range of different drawing tools, which makes the broker unique. Use horizontal lines, Fibonacci, trendlines, and more.

Also, more than 20 different indicators are available on the platform. Choose an indicator and customize it by yourself. You can choose different settings for the periods of the indicators and more. In addition, there is a description and tutorial for the indicator. In the section “strategies”, you can read about the collaboration between different indicators. They are powerful tools to make a high profit with Binary Options.

Technical indicators

In conclusion, the trading platform is user-friendly and flexible. Beginners should feel comfortable within a few minutes. The biggest advantage is the clear structure of the platform. I like the design. Furthermore, you can customize it very fast in a few seconds. Try it with the demo account.

› Sign up with Binomo for free now

(Risk warning: Trading involves risks)

Binomo trading tutorial – How does it work?

How to place a trade on Binomo
How to place a trade on Binomo

Binary Options is a simple financial product. In this simple and short tutorial, I will show you how to trade successfully. You can bet on rising or falling markets at a certain time horizon. Choose the expiry time of the trade and go short or long. After the expiry time, the trade automatically closes and you get a high payout or you lose your invested amount.

Predict the price direction of an asset and trade in the direction you want. No matter how much the asset is moving in your direction, the price only has to be upper or under your entry point to get a fixed profit. The profit depends on the traded asset.

The risk is limited to the investment amount. You can only lose your investment amount and win a fixed profit. This is an important point because there are not a lot of financial products where the risk is limited.

Learn how to trade with Binomo – Make a forecast

Example: GBP/USD – 85%:

You invest the amount of 100$ and make the forecast for the market. If you are right after the expiry time, you win a high amount of 185$. 100$ is the return on your investment, and 85% is the profit. Binary Options are available on different time horizons. It is possible to get a high profit in a short time horizon, like 30 seconds.

Step-by-step trading tutorial:

  1. Choose an asset and analyze it
  2. Make a forecast of the price movement in the future
  3. Choose an expiry time
  4. Invest any amount starting at 1$
  5. Click Call (long) or Put (short) to open your trade
  6. Earn a high amount of money if you make the right forecast

So you see, Binomo is definitely not a gamble.

Losses and emotions are the biggest enemies of a successful trader. Therefore it is important to use sensible money management. If you lose a huge amount of money, you will trade irrationally and lose more money in the future. Sensible money management should be no more than 1% per trade of the account balance. The advantage is that you can cope with a losing strike without getting emotions.

Binary Options are risky too. You should not invest money that you can not afford to lose. Profits are not guaranteed but there is a chance to earn a lot of money with the right knowledge. You can read my 6 best Binomo tips here.

› Sign up with Binomo for free now

(Risk warning: Trading involves risks)

How to use the Binomo mobile app

To start using the Binomo app, you need to download it on your smartphone. If you are comfortable trading with Binomo web, you can easily understand the mobile version features. Even if you are new, you will find the mobile app’s interface easy to understand.

Binomo app

So, go to the app store and search for Binomo. After that, press the install button. Once the app is installed, you need to register yourself by entering your email address and creating a strong password. Next, select the currency. 

Then you will receive a confirmation email. Open it and click on “confirm email” to move forward. After following all the required steps, you can get access to a demo account where you can make dummy trades. And once you understand the trading market, start making real trades. 

Mobile trading on Binomo

Nowadays, mobile trading is very important. React directly to market news or proof your portfolio on the road. It is possible to earn money with your smartphone. The app works smoothly and is structured like the web version. The execution of trades is very fast and you can use the same functions as in the web version. The offer of mobile trading completes the portfolio of Binomo.

How to open your free demo account with Binomo

How to create a free risk-free demo account on Binomo
How to create a free, risk-free demo account on Binomo

The demo account allows you to trade with virtual money. There are some different advantages of it which I will show you in this section. Beginners should especially practice with the demo account before they invest real money. In addition, advanced traders can use this account too to improve their strategies or learn to trade new assets. You trade without risk. The demo account is the best option for getting more knowledge about the trading platform and the financial product.


Binomo offers you a free demo account with a 1000$ deposit of virtual money. It is completely free and you can use this account as long as you want. It is unlimited. If you lose money, you can recapitalize this account with one click. On the other hand, you can change the demo account in a few seconds! Every good broker provides a free demo account. So Binomo is one of the best brokers.

› Sign up with Binomo for free now

(Risk warning: Trading involves risks)

Open your real account

How to sign up for a real Binomo account
How to sign up for a real Binomo account

The demo account is linked to the real account. Switch between these accounts with one click. For trading with real money, you have to fulfill the account form. The broker needs additional documents and personal information. For withdrawal profit, the account has to be verified. The verifications take some time, fewer than 24 hours. Just upload a photo of your passport and get the verification. After that, you can use all the functions of the real account of Binomo.

In conclusion, the account opening with Binomo is very easy. The sign-up lasts only a few seconds. Use the account currency dollar or euro to open the account. There are no hidden fees for you and it is completely free.

› Sign up with Binomo for free now

(Risk warning: Trading involves risks)

Review Binomo deposit and withdrawal option:

Binomo payment methods for deposit and withdrawals

The minimum deposit is only 10$ and the minimum withdrawal is only 10$. You can capitalize your account with different payment methods. Binomo offers Creditcards, E-Wallets, or Cryptocurrencies for your deposit. Also, the withdrawal works with these payment methods.

The withdrawal process works fast as the deposit. If you make a profit, you can withdraw it directly on the platform. Surprisingly there are no commissions for your transaction. This is a big advantage of Binomo. In addition, it is secure and the withdrawal system works fast. The payout is less than 24 hours.

The Binary Options Broker offers you a bonus (read more below) too. It is possible to get a 100% bonus on your first deposit. Furthermore, there are different account types (read more below). In conclusion, I proved the payment system and there was no scam for my deposit and withdrawal. It works very fast and is reliable.

Payment methods:

  • Credit Cards (Master/Visa)
  • WebMoney
  • Neteller
  • Qiwi Wallet
  • Cryptocurrencies (Bitcoin, Litecoin)
  • Perfect Money
› Sign up with Binomo for free now

(Risk warning: Trading involves risks)

Bonus and conditions for traders

Binomo bonus review
The Binomo deposit bonus

Binomo offers different types of bonuses for traders. The bonus for the first deposit is very popular because you can trade with more risk or money. Always before you activate a bonus, you should read through the bonus requirements.

Example: You make a deposit of 5000$ in your account trade with the money management of 1% of each trade. The investment amount is 50$. If you take a bonus of 100%, your account balance is 10.000$. Now you trade with the investment amount of 100$ each trade if you use the money management 1% of your account balance. The bonus allows you to grow your account more quickly.

The bonus is a good way to increase your account balance for free, but be aware of the conditions. You should read it before!

The broker offers different types of bonuses and there are different requirements. The bonus can be deactivated only if you do not trade after the activation. The bonus cannot be deactivated after you start trading with it. The amount of the bonus depends on the promotion and the amount of the deposit. For bonuses of the amount of 50% or more, the turnover is x40. The turnover for bonuses less than 50% is x35. Sometimes they offer a no-deposit bonus. Also, there are time limits for the activation. 

In conclusion, a bonus is one of the best tools to grow your account but you should read through the bonus conditions before you activate it.

› Sign up with Binomo for free now

(Risk warning: Trading involves risks)

Different account types are available:

Binomo account types
Binomo account types

Binomo offers 4 different types of accounts. The status depends on the deposit amount. This is another good feature to improve the experience for the clients of Binomo. With a higher account type, you can get special features and more profit. In this section, I will show you the different types of accounts. See the advantages of a higher deposit.

Standard account


Everyone who deposits the amount of 10$ gets the standard account. You can use the full functions of the trading platform.

  • Fixed profit to 85%
  • The minimum investment amount is 1$
  • Participation in tournaments and contests
  • No limits
  • Withdraw in less than 3 days
  • Technical support

Gold account


In the gold account, there are more special events and privileges, which could increase the profit of a trader.

  • More assets are available (100+)
  • Fixed profit to 86%
  • Get a higher bonus
  • Personal account manager
  • Education from professional traders
  • New strategies
  • Weekly cashback of 5%

VIP account


The VIP account offers you the best trading conditions.

  • Bonus up to 100%
  • Higher asset profit up to 87%
  • Withdraw in less than 24 hours
  • More available assets
  • VIP support and education
  • Weekly cashback of 10%
› Sign up with Binomo for free now

(Risk warning: Trading involves risks)

Test of the tournaments for traders

Binomo contests and tournaments

Also, Binomo offers contests for traders. It is a good way to earn a huge amount of money with a small investment. There are different types of contests. Some tournaments are free to use and some tournaments have to be paid for. The participation fee depends on the contest.

Often the goal of the tournament is to get a maximum balance at the end. You compete with other traders on the platform. If you lose money, the contest is not over. You can rebuy and start again.

The prize fund is quite large compared to other contests. The winner does not get the whole prize fund. The money is divided up to the first 30th place but it can depend on the contest. There are a lot of different conditions and each contest is unique. In conclusion, I like tournaments because the return on investment can be huge. Surprisingly sometimes you can win an iPhone XS or other valuable prizes.

Available countries:

The market for Binary Options is growing continuously. Binomo is an international broker who tries to accept more and more countries. There are some forbidden countries: the EU, USD, and Canada.

After all, the market in Asia and Africa is growing very fast. Now they offer support in more than 20 different languages: English, Thai, Indian, and more. Most traders are from:

› Sign up with Binomo for free now

(Risk warning: Trading involves risks)

Are Binomo Robots, bots, and automated trading allowed?

scam alert
Scam alert: Be careful when using trading robots!

There is no possibility to use automatic systems with Binomo because they offer a unique trading platform. For example, expert advisors are not possible to use. In addition, the broker does not provide signals or social trading for its clients. Binomo prefers that the traders trade with their own knowledge.

Automatic trading on the platform is prohibited and can block your account.

Be careful with Robots, bots, or automated systems for Binomo. They are a big scam for your money. Binomo can delete your account without warning if the broker finds out that you use a bot. Moreover, 99% of all robots and bots are a scam, from my experience. They do not work profitably, so you should not try these programs.

But Binomo offers a big education center where you can learn different strategies by yourself. This is a good way to improve your profit and another option.

Comparison of Binomo with other binary brokers

Altcoin trading on Binomo
The trading dashboard of Binomo

If you compare Binomo with other binary brokers, you will see that Binomo does not perform the best. In our review, we can give Binomo a maximum of 2 out of 5 possible stars. Binomo’s return is significantly lower than that of the other brokers. Moreover, Binomo is not available in every country. Their offer and platform are decent, but they lack important functions a professional trader would need.

Here is a direct comparison of Binomo with other binary brokers:

1. Binomo2. Pocket Option3. IQ Option
Rating: 2/55/55/5
Digital Options: YesYesYes
Return:Up to 87%+Up to 93%+Up to 100%+
Advantages:$10 minimum deposit onlyOffers 30-second tradesOffers CFD and forex trading as well
Disadvantages:Comparably low return, not available in every countryNo phone supportNot available in every country
➔ Visit the Pocket Option review➔ Visit the IQ Option review

See more alternatives in our comparison to other brokers:

Review of the Binomo customer service and support

The quickest way to contact the Binomo support
The quickest way to contact the Binomo support

Binomo offers 24/7 support via phone, chat, email, or skype. From my experience, the support works very fast and professionally. There are specially educated employees who answer your questions. Furthermore, they offer an account manager for gold and VIP clients. It is a personal manager. You can arrange a personal session to learn more about trading and new strategies.

All in all the support is reliable and very fast. I tested it in many ways and the live chat is the fastest one. Just click on the symbol in your platform and you can directly ask questions. Finally, they offer a big FAQ and education center. There are video tutorials and guides for trading. More than 50 videos are available.

Phone, Chat, Mail, Skype24/7Account managersSuite 1, Second Floor, Sound & Vision House, Francis Rachel Str., Victoria, Mahe, Seychelles
› Sign up with Binomo for free now

(Risk warning: Trading involves risks)

Conclusion of the review: Is Binomo real or fake? – Legit broker

Thumb in yellow circle

Binomo can be interesting for beginners and advanced traders. In this review, I showed you the conditions and offers for traders. After you read this overview, you should decide for yourself if you want to invest your money.

In my opinion, Binomo is not a reliable broker for Binary Options. Even though they offer everything a successful trader needs, you might get banned from your account without warning, as happened to our partner account. Therefore, carefully decide if you want to invest your money with Binomo or not.

Despite these downsides, the trading conditions are pretty clear. Traders can start trading with just 10$ or try the demo account to practice the platform. Beginners should feel comfortable with the support and the education center. Their service is diversified and professional.

The conditions are good with Binomo. You can trade with a relatively high asset profit and earn money in a few seconds. Also, the broker is very safe because of the regulation and it can be used to recommend the company.

› Sign up with Binomo for free now

(Risk warning: Trading involves risks)

Frequently asked questions (FAQs) about Binomo

Is Binomo legal or not?

I can recommend that Binomo is a legal and legit company. Binary Options are allowed to trade in India, Australia, and more. It is like betting on a rising or falling market with fixed risk. The company is fully regulated.

Should I create an account with Binomo?

Personally, I think it is a very good broker for financial investments. In this review, I showed you the advantages of the platform. There are no disadvantages and it does not look like a scam to me. Especially I tested the broker with real money and the platform works fine.
If you search for a professional Binary Options Broker, you should register with Binomo.

Is Binomo real or fake?

From my experience, Binomo is definitely real. You see on the internet a lot of traders who make money with this platform. It can be real but you should beware of the risks. It is possible to lose money by investing.

How to make money on Binomo?

The answer is simple: You need a trading strategy that is working. Without any method, you will not make money in the financial markets. The best way to make money on Binomo is to analyze the charts and detect which prices are important for the market. If you find these spots, you can open a trade in a certain direction. You have to predict the market movement in order to make money.

Is Binomo legal in India?

Yes, Binomo is legal in India. The platform is a member of IFC (International Finance Commission) and has a “VerifyMyTrade” certificate, which makes it very popular among Indian traders. Currently, a lot of people from India are trading on the Binomo platform, which is partly due to the good trading conditions and the many bonuses that it offers.

Is Binomo safe?

Binomo is a legitimate broker and can therefore be considered safe. This is due to its regulation by the IFC (International Financial Commission) and its accreditation by the CROFR. In addition, Binomo has a “VerifyMyTrade” certificate, something that not all brokers get. The platform is supported by many active users and has various positive testimonials.

See our comparison to other brokers: