Deriv vs Binomo – Which broker is better? – Comparison


If you are an aspiring trader, you are probably wondering – Deriv vs Binomo – which platform is better? Both have been in the industry for a while and knowing the answer will certainly give you the upper hand.

In this article, we will find out which one can serve you better and why. We will take a closer look at the features, benefits, drawbacks, terms, and conditions. You will also find a brief comparison between these brokers. Let’s get started!

Deriv vs Binomo

Comparison table – Binomo and Deriv compared

See the core facts of both brokers here:

SpecificationBinomoDeriv
Rating (based on this comparison):6/109/10
Demo account:YesYes
Trading Robot:NoYes
MT4/5:NoMT5
Minimum deposit:$10$5
Payment methods:Credit cards, debit cards,  electronic walletsElectronic wallets, Cryptocurrency, credit cards, debit cards, wire transfers
Live chat and online support:YesYes
Underlying assets:50+100+, Forex, commodity markets, equities, and synthetic indexes
Regulation:IFCMalta (MFSA), Labuan Financial Services Authority (LFSA), Vanuatu Financial Services Commission (VFSC), and the British Virgin Islands Financial Services Commission (BFSC)
➨ Sign up with the winner Deriv for free

(Risk warning: Trading involves risks)

About the brokers: Deriv vs Binomo

Deriv and Binomo are both established players in the trading industry. So let us learn more about them one by one.

Deriv

The Deriv trading platform

Deriv is an online trading services company based in Malta. It has been serving traders around the world for over 22 years. Furthermore, it was founded in 1999 and started operations in 2000. This makes it one of the few experienced brokers out there.

With Deriv, a trader can benefit from many features. He can trade different securities. Moreover, a trader can execute trades without worrying about risking funds. This is because Deriv is a secure and regulated online trading platform.

Earlier, Deriv used to operate under the name of Binary.com and had millions of clients around the world. However, it now serves its clients with various technological innovations under the name ‘Deriv’. DerivGo, DTrader, DerivX, etc. are some of its proprietary offerings.

This binary broker offers users the benefits of trading multiple assets, from currencies to options. It has a clientele that ranges from Australia, Thailand and the UK to South Africa, India, Germany, Norway and many more countries.

You can try out the features of Deriv through its demo account and later switch to the real account. This will help you familiarise yourself with all the features and once you have gained confidence, you can start trading for real.

A trader can start trading by depositing any amount into his or her Deriv account. However, this amount must exceed the minimum deposit, which is kept nominal. This broker also offers various payment methods in addition to withdrawal methods. We can soon find out more about the payment methods compared to Binomo.

➨ Sign up with the winner Deriv for free

(Risk warning: Trading involves risks)

Binomo

The official user data of the trading platform Binomo

Binomo, on the other hand, is also a premium trading service provider like Deriv. It is a broker based in St Vincent and the Grenadines. Binomo started offering its services in 2014. Therefore, compared to Deriv, Binomo has relatively less experience in the industry.

This broker can be seen as a premium service provider that does not offer hidden costs and additional fees. It is transparent in its earnings. Besides, Binomo is regulated, which makes it a safe broker, just like Deriv. This platform offers services through its apps and other features.

With Binomo you can trade multiple assets. It also offers over 30 trading signals and other technical and fundamental analysis tools. Like Deriv, Binomo requires the trader to deposit a minimum amount before starting to trade.

Let us now compare these two brokers by looking at their characteristics and requirements one by one.

A closer look at the trading apps that are available on both platforms

Overview of the DerivGo platform
Overview of the DerivGo platform

Offering a trading app that is convenient and compact is a must for any trading broker. Nowadays, all transactions are mainly digital. So, the customers seek an easy-to-go app from their trading brokers. These apps can give them instant access and reduce their hassle. 

Therefore, Binomo and Deriv both understand the needs of their customers and do not stay behind each other in this matter. They provide them with their exclusive trading apps. Deriv offers the app DerivGo, which lets customers trade wherever and whenever they wish. Likewise, Binomo also offers the Binomo app. You can easily find these apps on the app store of Android and iOS by looking for their names.

Overview of the Binomo app
Overview of the Binomo app

When comparing the apps, we can say that both do not miss any chance to provide reliable service. The Deriv Android APK is downloadable for iOS as well. The Binomo app is downloadable for iOS and Android too. The Binomo APK can be downloaded on Android and offers great convenience.. Moreover, they both come with additional tools exclusive to the broker.

Specification:DerivBinomo
Rating (based on this comparison):9 / 105.5 / 10
App Availability:Android & iOSAndroid & iOS
Downloadable APK:YesYes
Exclusive Tools:Yes, broker-specific toolsNo
Convenience:High, with great convenienceLow
➨ Sign up with the winner Deriv for free

(Risk warning: Trading involves risks)

Payment methods for the platforms

Binomo offers its customers various payment methods. You can deposit and withdraw with the same method. You can choose from credit cards, debit cards, or e-wallets. Binomo allows the use of cards such as Maestro, VISA, and MasterCard. For the e-wallet method you can choose from Skrill, Perfect Money, Advcash, or even Neteller.

Online banking payment methods on the Deriv platform
Online banking payment methods on the Deriv platform

On the contrary, Deriv also allows the use of standard methods such as online bank transfers and credit or debit cards. However, Deriv goes one step further by offering additional methods.

Deriv platform credit card payment methods
Deriv platform credit card payment methods

It offers an additional payment option through Fasapay in the e-wallet method. You can also choose to pay with crypto wallets with Deriv.

Cryptocurrency payment methods on the Deriv platform
Cryptocurrency payment methods on the Deriv platform

It also accepts all major cryptos, including Bitcoin, Ethereum, Litecoin, USDcoin, etc. So there is an option to deposit and withdraw your funds in the form of an asset such as crypto. This is in addition to all the traditional forms.

Payment methods for Fiat on the Deriv platform
Payment methods for Fiat onramp of the platform Deriv

Deriv also offers a unique method called the Fiat-on-Ramp method. This is a payment service that allows you to offer fiat money in exchange for crypto.

DP2P payment method on Deriv
DP2P payment method on Deriv

Deriv also offers payments through its proprietary DP2P service. This is a hassle-free method exclusively for Deriv traders. You can even access it in local currencies. It is a fast and secure peer-to-peer deposit and withdrawal service. So, when we compare payment methods, Deriv stays ahead of Binomo. It offers a more diverse deposit and withdrawal portfolio.

Specification:DerivBinomo
Rating (based on this comparison):10 / 106/ 10
Credit cards/debit cards:Maestro, VISA, MasterCard plus additional optionsMaestro, VISA, MasterCard
E-Wallets:Skrill, Perfect Money, Advcash, Neteller, Fasapay and additional optionsSkrill, Perfect Money, Advcash, Neteller
Online Banking:AvailableAvailable
Cryptocurrency:Bitcoin, Ethereum, Litecoin, USDcoin, and many more.Available
Unique Methods:Fiat-on-Ramp, DP2PNot available
➨ Sign up with the winner Deriv for free

(Risk warning: Trading involves risks)

Available assets

Deriv vs Binomo - Assets

Let us now compare the assets of the two platforms.

Specification:DerivBinomo
Rating (based on this comparison):8 / 1010 / 10
Return on investment:Up to 100%Up to 90%
Binary Options:YesYes
Forex / CFD Trading:YesYes
Assets:100+ (forex, stocks, commodities, cryptocurrencies, indices)50+ (currency pairs, commodities, stocks, indices)
OTC trading:YesYes
Trade execution:InstantInstant

Minimum deposits on both platforms

The deposit feature on Deriv

Deriv and Binomo, both renowned trading platforms, have set minimum deposit requirements that allow traders to start trading as soon as the required amount is deposited. These minimums are reasonably nominal and designed to be accessible to a wide range of traders.

Deriv, in particular, has a flexible approach to minimum deposits, with the amount varying depending on the deposit method chosen. For those who choose to use a crypto wallet, there is the luxury of no minimum deposit, allowing for maximum flexibility. For card methods, the minimum deposit is set at a modest $5, as opposed to the aforementioned $10. Meanwhile, using e-wallets and online banking methods can require a deposit of between $5 and $15, depending on the method chosen.

Binomo, maintaining simplicity, mandates a uniform low minimum deposit of $5 (equivalent to 350 rupees), regardless of the deposit method selected.

In essence, both platforms strive to maintain low barriers to entry, with Deriv offering a variety of options to suit different preferences and Binomo offering a straightforward, uniform approach.

Specification:DerivBinomo
Rating (based on this comparison):10 / 108 / 10
Minimum deposit:$ 5$ 10
Deposit/withdrawal fees:NoneNone
Payment methods:Credit cards, crypto, local bank transfers, electronic walletsCredit cards, crypto, local bank transfers, electronic wallets
Withdrawal duration:Maximum 3 business days (often after a few hours)Maximum 3 business days (often after a few hours)

Trading robots

The DBot trading robot on Deriv
The DBot trading robot on Deriv

A trading robot is a remarkable tool that allows you to trade in an automated way. It can support your moves with its pre-built algorithmic functions. Many brokers offer this feature to their clients and Deriv is one of them. It offers the possibility of creating your own trading robot with its Dbot feature.

The "Binomobot" trading robot

The “Binomobot” trading robot

Binomo does not offer trading robots to its customers. However, please note that independent developers have created Binomobots that are compatible with Binomo accounts. So if you want to take the risk, you can use them. Nevertheless, they may turn out to be a scam. In contrast, Deriv is ahead of Binomo in offering a reliable official trading robot feature.

Specification:DerivBinomo
Rating (based on this comparison):10 / 102 / 10
Auto Trading:Available via DBotNot available, only accessible via third-party apps
➨ Sign up with the winner Deriv for free

(Risk warning: Trading involves risks)

MetaTrader

The Deriv MetaTrader 5 platform
The Deriv MetaTrader 5 platform

There are two types of MetaTrader software, MT4 and MT5. Both are forex trading platforms developed by MetaQuotes Software. It has been licensed to Forex brokers since 2005. Many of them offer it to their clients.

MT4/5 focuses on providing an excellent Forex trading platform. It can be beneficial in analysing financial markets using expert advisors. In addition, trading signals and mobile trading are two fundamental parts that enhance your forex trading experience. It also allows traders to implement strategies of varying complexity. A trader can use the instant execution facility, use stop orders, trade from a chart, etc.

Deriv and Binomo both lack in offering the MT4 platform to their clients. But, Deriv does offer MT5 through its platform. That keeps it ahead of Binomo in this respect.

Specification:DerivBinomo
Rating (based on this comparison):10 / 100 / 10
MetaTrader 4:AvailableNot available
MetaTrader 5:AvailableNot available
➨ Sign up with the winner Deriv for free

(Risk warning: Trading involves risks)

Bonus of the brokers

Deriv vs Binomo - Bonus

Now let us compare the bonuses of the two brokers.

Specification:DerivBinomo
Rating (based on this comparison):8 / 108 / 10
Deposit asset:Up to 100% (depending on account type)Up to 100% (depending on account type)
Cashback bonus:/Up to 10%
Risk-free bonus:AvailableAvailable
Balance bonus://
Percentage of turnover bonus://
Bonus turnover:40x of the bonus amount35x of the bonus amount
Free lottery:NoNo

Regulations of the brokers

The official logo of the CySEC

Deriv and Binomo are both regulated brokers. We can compare the two brokers based on the number of regulatory agencies that regulate them.

The official logo of the IFC (International Finance Corporation)

Binomo is primarily under the jurisdiction of the IFC. It is also seeking additional certification from CySEC. At the same time, Deriv is already regulated by several authorities. These include Malta (MFSA), Vanuatu (VFSC), Labuan (LFSA) and the British Virgin Islands (BFSC). Therefore, we can emulate that the regulatory status of Deriv is much more reliable than Binomo.

Specification:DerivBinomo
Rating (based on this comparison):10 / 106 / 10
Regulation:MFSA, VFSC, LFSA, BFSCIFMRRC, Mwali International service Authority
European Regulation:NoNo
US Regulation:NoNo
Other regulators://

Final conclusion – Deriv wins the comparison

When comparing Binomo and Deriv, it is clear that Deriv is the superior trading platform. Deriv, with its extensive experience and a wealth of features, stands out in many ways. It offers a wider range of assets, additional payment methods including cryptocurrencies, and advanced features such as trading robots and MetaTrader 5, which are not available on Binomo. In addition, Deriv is regulated by several agencies, which increases its reliability and trustworthiness.

➨ Sign up with the winner Deriv for free

(Risk warning: Trading involves risks)

Frequently asked questions about Deriv vs. Binomo:

Which trading platform has more experience in the industry, Binomo or Deriv?

Deriv has more experience in the industry, having been established in 1999, compared to Binomo, which started offering its services in 2014.

Do both Binomo and Deriv offer trading robots to their users?

Deriv offers the facility to create your own trading robot with its Dbot feature, while Binomo does not offer an official trading robot to its customers.

Deriv vs. Binomo: Which platform offers MetaTrader services to its users?

Deriv offers MetaTrader 5 to its users, while Binomo does not offer any MetaTrader services.

How do the payment methods of Binomo and Deriv compare?

Binomo offers standard payment methods such as credit or debit cards and e-wallets, while Deriv offers additional methods such as cryptocurrencies, the fiat-on-ramp method and its own DP2P service, making Deriv more diverse in terms of payment methods.

Binomo vs. Deriv: Which platform is regulated by more agencies and therefore more reliable?

Deriv is regulated by several authorities, including Malta (MFSA), Vanuatu (VFSC), Labuan (LFSA) and the British Virgin Islands (BFSC), making it more reliable than Binomo, which is mainly regulated by the IFC.

About the author

Percival Knight
Percival Knight is an experienced Binary Options trader for more than ten years. Mainly, he trades 60-second trades at a very high hit rate. My favorite strategies is by using candlesticks and fake-breakouts

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