Quotex vs. Binomo – Which one is better? – Comparison

Choosing the right trading platform is a serious task if you want to trade online – so let us decide between Quotex vs Binomo – which one is better?

If you are reading this article, then you are interested in a comparative analysis of the two platforms. This article is not just a comparison of features and services, it is a detailed research, a guide through the confusing landscape of Quotex and Binomo.

quotex vs. binomo

Detailed comparison between Quotex and Binomo:

See the core facts of both brokers here:

Overall rating (based on this comparison):9 / 102 / 10
Minimum deposit:$10$10
Bonuses:Deposit bonus, cashback bonus, risk-free trade bonus, balance bonus, percentage of turnover bonus100% deposit bonus on the first deposit, 5 different types of bonuses in total
Financial instruments:Binary OptionsBinary Options, Forex
Underlying assets:Forex, cryptocurrencies, stocks, indices, commoditiesForex, Stocks, Commodities, and Cryptocurrencies
Margin trading:NoNo
Auto trading:NoNo
Trade signals:YesYes
Copy trading:NoNo
Special:Trader contests‘Non-stop’ mode of trading
Mobile App:Android, iOSAndroid, iOS
Review:Read the full Quotex reviewRead the full Binomo review
➨ Sign up with the winner Quotex for free!

(Risk warning: Trading involves risks)

Let’s get more into details. What do both of the brokers offer their clients?

#1 Minimum deposits and withdrawals

The minimum deposit on Binomo

If you compare the minimum deposit on both platforms, you will see that the minimum deposit on Quotex is the same as the minimum deposit on Binomo. However, in the past, traders have reported difficulties depositing and problems with Binomo. For example, accounts are said to have been frozen. For this reason, Binomo scores only 2 points and Quotex scores 10 out of 10.

Rating (based on this comparison):10 / 102 / 10
Minimum deposit:$10$13
Minimum withdrawal:$10$10
Deposit/withdrawal fees:NoNo
Payment methods:Credit cards, crypto, local bank transfer, 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)
➨ Sign up with the winner Quotex for free!

(Risk warning: Trading involves risks)

#2 Regulations

The official website of the IFMRRC regulatory body

A comparison of the regulators of both platforms shows that Quotex is regulated by only one platform, the IFMRRC. Binomo, on the other hand, is regulated multiple times and therefore has a slight advantage over Quotex. However, both platforms are very safe for traders.

Rating (based on this comparison):9 / 1010 / 10
Regulation:IFMRRCRegulated by the IFC, certified by the CROFR
European Regulation:NoNo
US Regulation:NoNo
Other regulators://

#3 Bonus

Binomo types of bonuses available

Both platforms offer bonuses, but not to the same extent. The various Quotex bonuses available are more varied, as you can see from the table below. The Binomo bonuses are only limited.

Rating (based on this comparison):7 / 105 / 10
Deposit bonus:Up to 80% (on special events)Up to 100% (depending on the deposit amount), but there are bonus conditions
Cashback bonus:Up to 10%/
Risk-free bonus:AvailableAvailable
Balance bonus:Available/
Percentage of turnover bonus:Available/
Bonus turnover:100x of the bonus amount/
Free lottery:NoNo

#4 Assets and Trading Conditions

Available assets on Binomo

Both Quotex and Binomo offer more than enough assets to trade. Quotex has more than 100, while Binomo is way ahead with 200. However, basic assets are only available to a limited extent on Binomo. We can therefore say that Binomo has a larger offer, but the selection on Quotex is better. Both therefore receive the same score.

Rating (based on this comparison):8 / 108 / 10
Return on investment:Up to 95% Up to 87%
Binary Options:YesYes
Forex / CFD Trading:NoYes
Assets:100+ (crypto, currencies, stocks, indices, commodities)200+ (crypto, currencies, stocks, indices, commodities)
OTC trading:YesYes
Trade execution:0,5 ms0,5 ms
➨ Sign up with the winner Quotex for free!

(Risk warning: Trading involves risks)

#5 Margin Trading

Margin trading is not available at either Quotex or Binomo. Those who like high leverage should look for brokers that offer up to 1:500 and higher.

Rating (based on this comparison):0 / 100 / 10
Margin Trading:Not availableNot available
➨ Sign up with the winner Quotex for free!

(Risk warning: Trading involves risks)

#6 Auto Trading

The Quotex Qbot - Third party software for automatic binary trading

Neither Binomo nor Quotex offer automatic trading. However, Binomo will block your account immediately if you are caught auto-trading. There are third-party providers for Quotex auto-trading, but you have to be extremely careful not to get caught by fraudulent companies. Quotex at least scores better in this comparison.

Rating (based on this comparison):5 / 100 / 10
Auto Trading:Not available, only available through third partiesForbidden, may result in loss of account

#7 Trading Signals

Trading signals on the Quotex platform

There are excellent trading signals on Quotex, which is unfortunately not the case with Binomo. Therefore, the former platform performs significantly better.

Rating (based on this comparison):10 / 100 / 10
Trading signals:AvailableNot available

#8 Copy trading

The Quotex trading platform for copy trading

With Quotex you can copy other traders, which is not the case with Binomo.

Rating (based on this comparison):8 / 100 / 10
Copy Trading:AvailableNo
➨ Sign up with the winner Quotex for free!

(Risk warning: Trading involves risks)

What is Quotex? – Short QX Broker review

The official website of the broker Quotex

Quotex is a well-known broker with a stable web platform with the simplest interface, offering binary options and multiple assets such as cryptocurrencies, indices and commodities.

This broker offers a low Quotex minimum deposit and withdrawal with no fees. There are excellent Quotex customer support services, and bonuses right at the first deposit. You can also sign up with Quotex and open a free demo account.

Note: Quotex allows you to open a replica of the live account with an additional $10,000 given to you as free funds to practice your hand at trading.

Once you understand the market fluctuations and the strategies used to trade, you can make profits and make a lot of money by using this platform. Furthermore, the site is trustworthy and reliable as there are certifications available.

You can trade a handful of cryptocurrencies at Quotex, some of which are the top cryptocurrencies right now. They also offer a range of welcome bonuses for new traders, making it a good choice for those looking to start a career in binary options trading.

➨ Sign up with the winner Quotex for free!

(Risk warning: Trading involves risks)

What is Binomo? A closer look at the platform

Binomo, on the other hand, is another online trading brand with a global reach and different types of traders on its platform. They are also certified by the International Financial Commission to ensure the protection of customer funds.

The official website of Binomo

You can access Binomo for your Android or iOS smartphone by downloading the app from the Play Store. You can use this app to improve your trading skills from anywhere in the world.

It differs from stock trading in that it uses FTT principles called predictions. On this trading platform, you determine or predict the movement of the asset and whether the price will rise or fall. The profit you make depends on your predictions. Therefore, for each correct prediction, you receive 87% of the value. So is Binomo real or fake? It is a legitimate and trustworthy platform for binary traders.

Advantages of Quotex

There are several advantages to trading with Quotex. This brand has established its platform online with a simple and easy-to-use interface.

They only take a minimum deposit of $10 and do not charge any withdrawal fees. Quotex extends its incredible platform to 19 languages in different countries.

There is also the additional facility of copy trading, which is a process of imitating the market strategies of other traders if you find their strategy successful.

With Quotex, there are endless types of trading signals that can be helpful. These trading signals inform you about the latest fluctuations in the market chart and the arrival of new instruments.

Furthermore, a 40% bonus is added to the initial bonus for the trader to get the ultimate benefit.

The Quotex demo account

There is a free demo account where you can practice trading with an additional $10,000 in virtual funds. Market fluctuations and positions can be understood and perfected before moving to the final trading account. Is Quotex legit? We say absolutely, yes!

➨ Sign up with the winner Quotex for free!

(Risk warning: Trading involves risks)

Advantages of Binomo

When comparing brokers, we must say that Binomo has its advantages. This platform is careful with user data and ensures it does not fall into the wrong hands. In addition, the SSL protocol used by the trading application encrypts and secures the user’s financial data.

The IFC (International Financial Commission) certified the platform as an “A” member. Binomo has won several awards, including the IAIR Awards for financial excellence and the 2015 FE Awards.

Binomo binary options

As a result, online traders can rely on this trading site as it is easier to use and function than many other platforms. The structure of the site has been designed with ease of use and a simpler registration process in mind so that anyone can trade here.

There is a free demo account where you can practice trading.

What’s more, the Binomo platform offers $1000 in virtual money, which comes in handy when you’re practicing the art of predicting market moves and trading skills.

Binomo demo account

It saves you real money as you learn to trade using the app’s free demo account.

Significant comparison between Quotex vs. Binomo

Let us make some significant comparisons between Quotex and Binomo to see which site has a better trading platform:

Instruments available:Digital options, cryptos, indices, ForexForex, Commodities, Stocks, Cryptocurrencies
Demo Account:Yes, $10,000Yes, $1000
Minimum Trade:$1$1
Minimal Deposit:$10$10
Cryptocurrency:Top cryptos are available for trading, such as BTC, LTC, etc.Cryptocurrencies like Bitcoin and Litecoin
Regulator:IFMRRCRegulated by the IFC, certified by the CROFR
Trade Signals:YesNo
Copy Trading:YesNo
Binary Option:Online available with a range of new markets for brand new traders and bonusAvailable
➨ Sign up with the winner Quotex for free!

(Risk warning: Trading involves risks)

Instruments available

While Binomo does not have the best instruments available, Quotex offers various instruments to trade with such as cryptocurrencies, forex, digital options and indices.

You can use these to trade and profit from the value of your investment. Furthermore, if there is a choice of instruments, traders can switch and use the cheapest or most popular instrument and profit in one day, while changing instruments as they enter the market. In our experience, trader comfort increases with the ease of instrument selection.

#1 Demo account

Quotex - practice account

The Binomo demo account allows you to practice trading. But it only gives you $1000 in virtual money to use for forecasting market positions and where to invest your money.

But with the free Quotex demo account, you get $10,000 to practice trading with multiple assets. You can even practice copy trading – copying other people’s strategies to make more money.

#2 Minimum trade

Minimum trade on Quotex

Both Quotex and Binomo offer a minimum trade value of $1, allowing traders to start with small investments. This low threshold is beneficial for new traders who want to gain experience without risking significant amounts of money.

Although $1 is a modest trade value, it can yield reasonable returns if invested wisely, making both Quotex and Binomo accessible and user-friendly platforms for traders with varying levels of experience. Therefore, it is incorrect to state that one platform is safer or more secure based on the minimum trade value, as both offer traders an equal starting point.

#3 Minimum deposit

The  minimum deposit on the Quotex platform

Both Quotex deposits and Binomo deposits start with a minimum of $10, allowing traders to start trading without a large upfront investment. This low barrier to entry is beneficial for individuals who are new to trading and wish to start with a smaller capital.

However, it’s important to understand that the value of the deposit does not determine the potential for profit or loss; trading strategies, market knowledge, and risk management are also important components of successful trading. Therefore, while the minimum deposit is an important consideration, it should be weighed against other factors when choosing a trading platform.

#4 Cryptocurrency

Cryptocurrency trading on Quotex

Both Quotex and Binomo offer a variety of trading options, including the ability to trade cryptocurrencies such as Bitcoin and Litecoin. These platforms allow traders to diversify their portfolios by trading different asset classes, including binary options and various other financial instruments.

In addition, both platforms are equipped with various features and tools designed to help traders make informed decisions and optimize their trading strategies. Therefore, traders looking to invest in cryptocurrencies have the flexibility to do so on either Quotex or Binomo.

#5 Regulator

The official website of the IFMRRC regulatory body

Regulation is essential to ensure the security of the site and the user’s financial information. Therefore, the Quotex site has a regulation provided by the members of the IFMRRC.

Binomo is a Category A member of the International Financial Commission, which guarantees the quality of service, transparency of relationships, and protection by a neutral and independent dispute resolution organization.

#6 Trade signals

Trade Signals on Quotex

Trading signals are important communications from analysts that inform traders of market opportunities and trends. Quotex is known for providing trading signals to its users. These Quotex signals are generally considered to be good. However, Binomo does not mention the availability of trade signals on the platform, and there are no signals to be found on the platform. From our point of view, it is better to choose a broker that provides you with trading signals.

➨ Sign up with the winner Quotex for free!

(Risk warning: Trading involves risks)

#8 Binary Option

Trading on Binomo

While the best binary options are unavailable to Binomo users, Quotex allows traders to trade many popular binary options online. These assets allow for maximised profits with a high return on investment.

In addition, Quotex gives clients more choice from the range of instruments available so that their income can increase every day. This platform is perfect for those looking to get started in the binary market.

Trading on Quotex

Final conclusion – Quotex wins the comparison

In conclusion, both platforms have their distinctive features and offerings and cater to a wide range of traders, but Quotex clearly wins the comparison. Whether it’s the variety of trading tools or the additional features offered by this platform, traders have everything they need to fully engage in binary trading.

While Quotex stands out for its extensive features such as copy trading and a more substantial demo account, Binomo stands out for its simplicity and mobile trading capabilities. Both platforms are designed to help traders learn and practice market dynamics and trading tools, and allow users to create free accounts to experience real market practices. However, based on the scores of each platform in our comparison, Quotex scores higher.

➨ The winner of this comparison: Sign up with Quotex!

(Risk warning: Trading involves risks)

Frequently asked questions (FAQ) about Quotex vs Binomo:

Quotex vs Binomo: Which platform offers a variety of tradable assets including cryptocurrencies, indices and commodities?

Quotex offers a range of tradable assets including cryptocurrencies, indices and commodities.

How much virtual money is provided in the demo account by Quotex and Binomo?

Quotex offers $10,000 in virtual money in its demo account, while Binomo offers $1,000.

Quotex vs Binomo: Which platform offers copy trading?

Quotex offers the Copy Trading feature, which allows users to imitate the trading strategies of successful traders. Binomo does not have copy trading features for its traders.

Quotex vs Binomo: Which platform provides its users with trading signals?

Quotex provides trading signals to its users, informing them of the latest market movements and the arrival of new instruments. Binomo does not.

Is Quotex or Binomo available as a mobile application?

Yes, both Quotex and Binomo are available as mobile apps and can be downloaded on Android and iOS smartphones.

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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