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.

Detailed comparison between Quotex and Binomo:

See the core facts of both brokers here:

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

#1 Minimum deposits and withdrawals

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.

#2 Regulations

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.

#3 Bonus

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.

#4 Assets and Trading Conditions

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.

#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.

#6 Auto 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.

#7 Trading Signals

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

#8 Copy trading

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

What is Quotex? – Short QX Broker review

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.

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.

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.

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.

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!

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.

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.

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.

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

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

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

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

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

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

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

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.

#8 Binary Option

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.

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.

Frequently asked questions (FAQ) about Quotex vs Binomo: