Binomo is not a popular brokerage firm, thus there are not so many Binomo reviews that will show you the whole picture. Luckily, we are here to bring you the most up-to-date information about this scam broker. So what is not okay with it?
- Not regulated by CySEC, FCA or MiFID
- Even less tradable assets than expected
- The trading platform works improperly
- Not the best account conditions
- Limited payment options
Now we are going to present your our Binomo opinion further.
Binomo Regulation & License
There is a big number of reasons why you should not sign up with Binomo. One of them is the absence of regulation. Most binary brokers in the industry have CySEC regulation, but Binomo broker does not have even this one.
Instead, they have got a license from CROFR. In fact, the majority of traders have not even heard of this institution at least once in the life. This pushes us to the point that Binomo is an unreliable binary broker. Is Binomo legit? We do not think so. Additionally, there are some fake testimonials provided on the website.
On its main page, the broker outlines that there more than 50 tradable assets, including blue-chip stocks and much more. The upsetting part is that this real number is below 20 and only currencies are available for trading.
As for binary trading types to mention in this Binomo review, you can select either traditional binary options or turbo (60 sec) options. It is fair to say that trading conditions at Binomo have not lived up to our expectations.
Binomo Trading Software Scam
Instead of introducing the well-known platforms tested by time like SpotOption or TechFin, Binomo offers its own trading software. The platform works with the help of the browser and there is no need to download something. Our Binomo.com review admits that the charting package presented there is pretty basic.
However, the main issue associated with the platform is that it often goes haywire. The platform executes orders with a huge delay that eventually leads to a considerable slippage. Slippage is almost inevitable whenever you trade, but here it is caused purely by the software performance.
Binomo Review Account Conditions
There is nothing special in account conditions at Binomo scam. Basically, you have to pick one out of 4 accounts, among which there is a practice account.
Other real trading accounts are called Standard, Gold and VIP. The maximum payout at Binomo is 87%. Standard is the core choice, so let’s see what features are included in this package.
As you can see in the picture, there is a Binomo bonus included in the package. The bonus amount is increased if you deposit more, i.e. choose Gold or VIP account.
Binomo Scam Payment Review
To fund an account, you can choose one of the following payment methods:
These transfer methods are the same for withdrawals at Binomo binary broker.