Binomo Review

Binomo is a major player on the financial market that provides a progressive and client-oriented set of services for trading on futures contracts.

The company was founded in 2014, and has actively developed into a major trading platform in just a few years, taking a leading position among other well-known companies on the futures market.

Today, the Binomo brand is recognized around the world. The Binomo company is registered in Cyprus, where its management office is located.

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The company has an FMRRC licence, which confirms that Binomo is a reliable broker that operates legally.

Every year Binomo is checked by this trustworthy financial regulator to ensure their quality of services and transparency of activities are in compliance with the certificate standards.

It is also worth noting that an FMRRC license provides the company’s clients with insurance of their funds in the regulator’s compensation fund.

Binomo Trading Accounts

You can sign up with Binomo in just a few minutes through a special form which can be opened on the main page of the company’s website in the upper right-hand corner.

When you open the form, you will need to enter some standard information, your email address and a password, and you’ll select your account currency and accept the terms of the client agreement.

After that, you will automatically be granted access to your personal account and to all the services of the company. In your personal account you can fill in information for your profile, your name, gender, and date of birth, and you’ll also confirm your email via a link sent to that address.

However, you don’t have to enter all your personal information right away. You can use the company’s services and the demo account as much as you want without any obligation to the company. Incidentally, the demo account automatically opens when you sign up.

In terms of choosing a trading account, Binomo offers several account options, depending on the amount you credit to the account: Demo, Standard, Gold, and VIP. Each type of account opens up different opportunities for the trader:

  • Demo – this is the training account that automatically opens when you sign up on the company’s site as a new user. It allows you to take advantage of absolutely all the services of the company, including participation in tournaments. This type of account allows you to conclude real trading transactions on the broker’s platform using virtual funds, which, in fact, never run out. The company only credits 1,000 EUR/USD, depending on the account currency, however after you use up this amount it can be reset, and you can do that an infinite number of times.
  • Standard – this is the basic type of trading account assigned upon crediting an amount of at least $10. This type of account allows you to conclude trades starting at $1, use the basic set of services, which is 20 trading assets (popular currency pairs and cryptocurrency), get maximum yields of 85% on trades, receive standard general technical support, and have unlimited withdrawals of funds within 3 business days.
  • GOLD – this type of trading account opens when you credit at least $500 to an account or it is assigned after your trading balance exceeds this figure. This type of account expands the arsenal of trading assets, trading profitability rises to 86%, and the time frame for withdrawals of profits is reduced to 24 hours. The gold account also offers a weekly cash back loss compensation service of up to 3%, contract insurance, and the amount of bonuses credited to the account is increased.
  • VIP – this is the highest level of account status on the Bimono site, and it is assigned to traders who credit at least $1,000 to an account. The VIP account opens up more opportunities for the trader in the form of a fixed yield of 87%, the full set of trading assets, transaction insurance, and 10% weekly cashback. Clients with a VIP account also get analytical Skype support, a personal manager, and profit withdrawals within 4 hours. This type of account is also assigned to anyone whose balance exceeds $1,000.

Deposit/Withdrawal of funds

For financial transactions involving account crediting and profit monetization, the company offers the most popular payment systems:

  • credit cards: MasterCard/Visa
  • electronic payment systems: Yandex.Money, Neteller, Qiwi, Alfa.wallet, WebMoney
  • cryptocurrency wallets: Bitcoin, Ethereum, Litecoin and Zach
  • mobile banking

All the client’s financial transactions are conducted in a secure area of the site. Money is credited to the trading account instantly and the withdrawal time depends on the type of the trading account. The minimum withdrawal amount is $10 and there is no additional commission.

It is also worth noting a mandatory condition for the withdrawal of profits – you must use the same payment method that was used to credit the account. Since the company doesn’t verify this, it is the only way to protect the client’s funds against unauthorized withdrawal by a third party.

Tournaments & Promotions

Regular promotions on the company’s site make it possible to get an additional bonuses or a certain number of free trades, to insure a few trading positions, or to get temporary access to VIP platform services and many other beneficial promotional offers.

Tournaments are also held regularly on the Bimono site. Even traders with only a demo account, i.e. those who have not yet made a deposit, can also take part in them.

In fact, the company holds all the tournaments on a separate tournament account which uses virtual funds for participation.

The prizes in these tournaments are real money, which means that any beginner can start earning on the company’s trading platform without even transferring any starting capital simply by earning their first deposit in a free competition.

However, there are also paid competitions which have entry fees for participation, and they differ only in the size of their prize funds.

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Page Updated: March 22, 2018

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