Binomo Review for 2024

Founded in 2014, Binomo is a regulated trading platform registered under the laws of Saint Vincent and the Grenadines. Since 2018, the firm is a category “A” member of The Financial Commission, and now welcomes traders from over 130 countries around the world.

Our review of Binomo will examine all the main features and intricacies of this broker, and compare it to some of its top competitors to determine how it fares against the market leaders in 2024.

Binomo Overview

Binomo has been operating for longer than ten years now, and has since grown to become one of the most trusted brokers in the online trading world. 

This has been further exemplified in recent times, as last year Binomo was voted the most reliable trading platform at the World Business Outlook Awards, and also won an award from the International Business Magazine.

Binomo Account Types & Trading Assets

Binomo offers five different account types to its users, starting with the Free demo account, where you can test out the platform and your trading strategies with $10,000 in virtual money.

This is a great way to start out and we recommend it to anyone who wants to learn how the platform works before making their first deposit.

The Standard account is the first paid option available to customers, and it comes with a $10 first deposit requirement. 

This is the base Binomo experience for real money traders, giving you access to 48 trading assets, deposit bonuses of up to 100% and profit splits of up to 85%, with withdrawal times of 3 days.

The Gold trading account option will require you to deposit a total of $500 or an equivalent amount in your account currency. 

It comes with a number of additional perks, most notably providing you with 13 new trading assets (GBP/CHF, USD/DKK, Twitter, Nvidia, Yum brands, Intel, Starbucks, Visa, Weibo, Qualcomm, JPMorgan C, Ferrari, Oil), as well as 24 hour withdrawal approvals, increased profitability during Happy Hour, profits of up to 90% and a 5% cashback compensation for weekly losses.

The next account type is called VIP, and in order to get a status of a VIP trader at Binomo, you will have to deposit $1,000 to your account. 

It adds 12 new trading assets that are only available to VIP and Prestige traders, namely EUR/HKD, EUR/CHF, EUR/AUD, CAD/CHF, GBP/AUD, Apple, Alibaba, Netflix, Tesla, CitiGroup, eBay, Meta.

The VIP account type also adds a number of unique perks to customers, such as having access to a personal manager, access to exclusive VIP tournaments, 10% cashback compensation, withdrawal request approvals within 4 hours or less, risk-free trades, monthly bonuses and deposit bonuses of up to 200%. 

If your account balance drops to zero, you will also have the benefit of investment insurance, where your personal manager will compensate you for a part of your losses.

Last but not least, the new Prestige club account represents the ultimate Binomo trading experience, coming with all the perks and features that the platform has to offer. 

It becomes available to you a month after you invest $3,000 or more, and comes with deposit bonuses of up to 300%, give you priority with personal manager requests and adds Cashback Plus and Insurance Plus, as well as a Free Pass to tournaments with a $200 or more entry fee.

The Prestige account is also the only option giving you access to Privilege Hour, with extra periods of increased profitability.

Binomo Bonuses and Promos 

Binomo has five different types of bonuses available to traders, starting with the Welcome bonus which becomes available to you as soon as you confirm your email after the registration.

The Welcome bonus will then increase any of your deposits by 50%.

As we noted earlier, the Deposit bonuses come with every real money trading account option, but vary from 100% to 300%, depending on your account type, and the higher-level accounts also have access to risk free trades provided by their personal managers, which appear in the Bonuses section of your account.

You can also get access to coupons or promo codes, either as a part of promotion on Binomo’s promo page or from the broker’s newsletter, as well as through your personal manager (for VIP or Prestige traders), or through Binomo’s Telegram and Instagram accounts.

Lastly, you can get a non-deposit bonus, which is a fixed amount of bonus funds that can be instantly credited to a real account without making a deposit, and you can get these either through a promotion via Binomo’s newsletter, or if you are a VIP or higher status trader, through your personal manager.

Deposits & Withdrawals

Binomo allows you to deposit funds to your account in a variety of ways, from traditional bank cards such as Mastercard and Visa, to electronic wallets like Skrill, Neosurf, Advanced Cash, Perfect Money and more.

You can also make deposits via bank transfers through Dash or Advcash, or by using your crypto wallet. Binomo accepts deposits from a number of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Cardano, XRP, Tether and more.

Just note that even though Binomo doesn’t charge any depositing fees, using some of these deposit methods can incur a fee from the side of the payment service provider, especially if the funds in your Binomo account differ from the payment currency.

As for withdrawals, Binomo sets a minimum limit of $10 or an equivalent in your account currency, while maximum withdrawal amounts vary depending on the time period.

For example, the maximum daily limit is set at $3,000 or an amount equivalent, while the weekly and monthly limits are $10,000 and $40,000 respectively.

Binomo does not charge any fees or commissions for withdrawals, and most of the withdrawals are completed in under an hour, with some requests being processed within 10 minutes.

Binomo Customer Experience and Reviews

Binomo customer service is available 24/7, and can be contacted either via email or through the online chat feature from your trading account.

There is also an extensive Help Center section of the website which has hundreds of useful articles and answers to the most commonly asked questions, which we found to be incredibly helpful during our testing period.

Additionally, Binomo offers a great training section, which includes a glossary of important terms, video tutorials and trading strategies, along with company webinars.

The Binomo platform itself works great on both mobile and desktop, and is easy to navigate, with most of the important features being just a click away. 

The platform does lack certain features found at some of the bigger brokerages, but it also offers some unique things, such as the company’s non-stop trading mode, which allows you to open several positions at the same time.

You can also trade at Binomo during weekends, and get a technical analysis of the market and quotes from news agencies, which, along with more than two dozen indications and 25 chart-drawing tools makes it more than enough for any beginner or experienced trader out there.

As for customer satisfaction, Binomo currently has a 3.9/5 Trustpilot rating, from more than 860 reviews, with customers most commonly praising the responsiveness of the customer service and the quality of the trading platform, while the most common complaints have to do with transaction and withdrawal processing issues.

Bottom Line

Binomo is a well-rounded trading platform, which stands out from the competition through some of its unique features, such as non-stop trading or cashback and insurance programs, as well as providing access to personal managers to its VIP and Prestige traders.

There is still room for growth here in terms of the technical features and indicators and tools, but the company’s attractive bonuses and low minimum deposit requirements make it a good choice for traders of all skill levels.