Binomo is a well-known binary options broker that opened its doors in 2014 with the aim of offering a simplified and unique trading platform. The broker is managed by Tiburon Corporation Limited – a company based in Seychelles. While carrying out our Binomo Review, we found that getting started with this broker is very easy given you’ll be automatically directed to the demo trading platform where you can open a Binomo demo account. This will enable you to hone your trading skills before you get started with real money trading once you open the Standard, Gold and VIP accounts. To kickstart your live trading experience, you’ll need to make a $10 initial deposit although, in the case of the VIP account, you need to have at least $1,000 in your trading account. Benefits of a VIP account include fast withdrawals, cash back bonuses, gift options and returns that reach up to 95%. In addition, the broker has an array of Forex pairs, market index and shares available for trading. Being a global broker, their site is multilingual and supports languages such as English, Bahasa, Melayu, Portuguese and Turkish among others. Let’s find out whether or not the broker is legit.
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Is Binomo A Scam? Is Binomo Regulated?
The Internet is flooded with numerous stock brokers these days and finding one that is genuine and legit is no easy task. One of the main features that’ll tell you whether a broker is genuine or not is if they’re licensed by a reputable authority. Binomo is licensed by the IFMRRC although after our Binomo scam investigators combed through the site, they found that the broker has an ongoing CySEC and CPO regulation. This is a good indicator that the broker is serious about wooing traders from across the world; however, we’d recommend that traders wait until they acquire a CySEC license. Nonetheless, in case you want to give the platform a try, there’s a minimum $10 deposit you can take advantage of. What’s more, their site has a progressive software which the broker developed personally. As such, the broker came up with this platform with the needs of modern traders in mind. Something else traders will love is the customer support team. Client support is offered by well-prepared and highly qualified personnel who offer solutions to all kinds of client problems. Once the broker gets past the regulation bit, it has everything to become a dominant force in the trading industry.
Alternatives To Binomo
Although Binomo is an ideal trading platform, smart investors need to check out a minimum of 2 alternative brokers, before settling on which one to trade at. One example traders can look at is eToro. Having been established in 2006, the broker has grown in leaps and bounds, and is today ranked among the best and most trusted when it comes to CFD trading. Also, our Markets.com review showed that traders are in for a reliable and user-friendly trading experience once they go for this broker. The good thing is that the two aforementioned brokers are fully regulated by reputable organizations hence you shouldn’t worry about the security of your funds.