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Binomo is an online binary options broker which was started in It is owned by Tiburon Corporation Limited and offers binary options investment and trading to its clients. There are mixed reviews on Binomo and we are here to set the record straight. If you are considering registering with this broker, make sure to read our Binomo trading review before you sign up.
Binomo Regulation Regulation is important whether it is a binary options or forex broker. Binomo is an unregulated binary options broker, however, there are claims of it having pending CySEC regulation.
While we understand this can be a costly and time consuming process, given the fact that Binomo lacks the proper regulation, we would advise you steer clear. However, this organization does not have the legal power to implement any action against Binomo if it was to violate the terms made by the FMRC. The lack of a telephone number can also be considered rather suspicious as a telephone number is often the primary contact method for local clients and just a standard contact option.
What was frustrating and a recurring issue was the disrespect that Binomo customer support agents had for clients. While doing our preliminary research, we came across numerous Binomo reviews where traders spoke of their not so helpful experiences with Binomo customer support. The Standard Account has the lowest minimum deposit.
There are also no limits on top-ups, withdrawals in 3 working days and participation in tournaments. Gold Account users have a significantly higher minimum deposit than Standard Account holders. The Binomo binary broker only offers one trading platform and that is its own custom platform.
In binary options trading, there are a number of well known platforms used by brokers such as SpotOption and TechFin. It would have been good if Binomo offered other platforms to give traders a choice but unfortunately that is not the case.
From what we have read, the major issue with this broker beyond a limited asset list is that fact that there is a time delay. Traders spoke of a delay between when you place an order and when Binomo actually takes the order and the fact that the order is usually made in the position you intended which results in slippage and loss.
That is the question you had in your mind when researching this broker and it is sad to say, Binomo is not. From what we have seen, Binomo has a long way to go before it can even be considered a half decent binary options broker. Despite the fact that it has been around for 3 years, it still lacks proper regulation, has a poor customer support staff and still has a faulty broker. We advise you to stay from this broker and save yourself the stress.
Best Forex Books can be helpful for binary options trading! You can do trading in IQ Option it is highly recommended broker as per my opinion. Binomo Review See if it is safe. Binomo Customer Support You can get in touch with Binomo through: Online form Skype Email Live chat The lack of a telephone number can also be considered rather suspicious as a telephone number is often the primary contact method for local clients and just a standard contact option.
Binomo Accounts The Binomo broker offers three different types of accounts: Gold Account Gold Account users have a significantly higher minimum deposit than Standard Account holders. Binomo Platform The Binomo binary broker only offers one trading platform and that is its own custom platform. Binomo Review Conclusion Is Binomo legit? Easy way to loose money.