Do you want to start trading but are confused about which trading platform you should use? Nowadays, so many online platforms offer you the base for trading and earning money. Online platforms such as Binomo, Quotex, etc., are known for their established interface and user-friendly site. However, one site is easily accessible through an app, while traders can only access the other through the website.
But which one is the superior platform – Quotex vs. Binomo? We will discuss and compare some of their main features to give you a better insight. Read the article below if this interests you.
What you will read in this Post
What is Quotex?
Quotex is a known broker with a stable web platform with the most straightforward interface and provides binary options and multiple assets such as cryptocurrency, indices, and commodities.
They include a minimum deposit and withdrawal with no fees, customer support services, and bonuses right at the first deposit. You can also sign up and open a free demo account, a service extended by Quotex.
It 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 know the market fluctuations and strategies applied to trade, you can earn profits and make so much money. In addition, the site is trustable and dependable as there are certifications available.
You can trade a handful of cryptos that are even top at the moment in Quotex. They also offer a range of welcoming bonuses in the market for new traders.
What is Binomo?
Binomo is yet another online trading brand that has a global outreach while having various types of traders over their platform. In addition, they have a certification from the International Financial Commission confirming the protection of the client’s funds.
It is quite different from stock trading as it uses FTT principles called forecasts. On this trading platform, you determine or predict the asset movement and find out whether the price will rise or fall. The profit you receive depends on your predictions. Therefore, you get 90% of the value for every correct prediction.
Advantages of Quotex
The brand has its platform established online with a simple and usable interface.
They only take a minimum deposit of $10 and do not levy any withdrawal fees. Quotex extends its incredible platform to 19 languages in different countries.
There is also an additional facility of copy trading, which is a process of imitating other traders’ market strategies if one finds their strategy to be successful.
There are infinite types of trading signals available by Quotex, which can be helpful to a trader. These trading signals inform the trader about the recent fluctuations in the market chart and the arrival of new instruments.
There is a 40% bonus added with the initial bonus for the trader to gain ultimate benefit.
There is a free demo account where you can practice trading with an additional $10,000 that can be used as genuine funds. The market fluctuations and positions can be understood and perfected before going to the final trading account.
Advantages of Binomo
Binomo is careful around the user data and ensures that it does not get into the wrong hands. In addition, the SSL protocol used by the trading app encrypts and secures the user’s financial data.
The platform is verified by the “A” member of the IFC (International Financial Commission). Binomo also received multiple awards, such as IAIR Awards for financial excellence and the 2015 FE Awards.
Online traders can rely on this trading site as it is easier to use and function. Structural designing of the site was done keeping in mind the ease of use and more straightforward registration process so that anybody can trade here.
In addition, the platform provides $1000 virtual money that comes in handy when you’re practicing the art of forecasting market trades and trading skills.
It saves your actual money as you learn how to trade over the app’s free demo account.
Significant comparison between Quotex vs. Binomo
Let us draw some comparisons between Quotex and Binomo to see which site has a better trading platform:
|Instruments available||Digital options, cryptos, indices, Forex||–|
|Demo Account||Yes, $10,000||Yes, $1000|
|Cryptocurrency||Top cryptos are available for trading, such as BTC, LTC, etc.||Trading of cryptocurrency is not available|
|Binary Option||Online available with a range of new markets for brand new traders and bonus||Binary option not available for trading|
While Binomo has no such instruments, Quotex provides various instruments to trade with, such as cryptocurrency, Forex, digital options, and indices.
You can use these instruments to trade with and gain maximum profit from your investment value. Moreover, if there is a choice in instruments, traders can shift around and use the most beneficial or famous instrument and profit in one day while changing the instruments as they enter the market. The convenience of the trader increases with ease in instrument choice.
#1 Demo account
Binomo allows free demo account usage but only gives $1000 virtual funds to use to forecast market positions and, in turn, where to invest money.
However, you get a free demo account and $10,000 funds to practice trading while using multiple assets to trade with Quotex. You can even practice copy trading, which is copying other people’s strategies for earning more money.
#2 Minimum trade
As a minimum trade, you receive at least $1 when trading with Quotex. Whereas there is no minimum trade value for Binomo, you can receive only a more considerable sum of trade.
While $1 is a meager trade value, you will get a fair trade out of it if you invest some amount, so Quotex provides a safer and more secure platform than Binomo.
#3 Minimal deposit
With Quotex, you need to put a minimum of $10 as a deposit to make a substantial amount of money without emptying your account.
Deposit value does not decide the nature of your profit, so this has no value compared to the other points.
There is a variety of cryptocurrencies that you can use when trading with Quotex, such as BitCoin, LiteCoin, etc. These are considered some of the major cryptos.
However, you cannot use cryptocurrencies while trading with Binomo as this feature is not available to them.
Regulation is essential to ensure the safety of the site and the user’s financial data. Therefore, the Quotex site has a regulation provided by the members of the IFMRRC.
Binomo has a certification from IFC, i.e., the International Funds Commission.
#6 Trade signals
Trade signals are important notifications from analysts who inform the traders whenever there is a new instrument in the market or the market has gone up so that traders can invest and maximize their profits.
Therefore, Quotex provides trading signals to their efficient users, whereas Binomo does not provide any trading signals to their traders.
#7 Copy trading
Traders usually do copy trading to gain maximum profits from the market. So, for example, a trader can copy a professional trader’s strategy and use it for himself to get maximized profits and a high return on investment.
Therefore, Quotex allows copy trading even when the users use a demo account so that they can practice trading and become a professional. Whereas, Binomo does not allow any copy trading features.
#8 Binary Option
While the binary option is unavailable for Binomo users, Quotex allows the traders to trade in binary options online.
Trading in binary options allows maximized profits with a high return on investment value.
Moreover, customers get more choice of using from the array of instruments available so that their income can become better every day.
Trading and earning profits have never been so easy! If you are looking for ways to earn extra money, these trading platforms are perfect for you!
Quotex and Binomo are two of the most popular trading platforms which claim to have a user-friendly interface. They allow practicing and learning of trade markets and the usage of instruments.
Moreover, you can make free accounts over the platforms to learn to trade and gimmick the actual market practices.
While both the sites are good, Quotex is a better online trading base than Binomo since it provides extra features such as copy trading, multiple assets like cryptocurrency, indices, commodities, and Trade signals.
These features come in handy while trading and help you earn more money. Therefore, Quotex has the upper hand over Binomo with multiple features.