Binomo: Scam or Not? Everything You Should Know About This Binary Options Broker Right Now (2025)

Binomo is one of the most recognized binary options brokers, offering trading with minimal investments and quick access to financial markets. In this detailed overview, we’ll cover Binomo’s core platform features, its advantages and pitfalls, and compare it with other well-known brokers—Pocket Option, Quotex, IQ Option, and Stockity.

A Quick Binomo Overview

The table below summarizes key information about Binomo:

About the Company and Binomo’s Reliability

Binomo entered the market in 2014 and, within just a few years, rose to prominence among leading binary options brokers. Initially, the company leveraged the standard SpotOption platform, but a year later developed its own trading terminal, which distinguished it from many look-alike competitors. By 2016, Binomo ranked among the top three brokers in the CIS region, then expanded aggressively across Asia, Latin America, and Africa. Today, its platform is available in over 15 languages and has users worldwide.

One important aspect is Binomo’s regulatory status. The broker lacks licenses from major financial regulators (e.g., CySEC, FCA), and its legal entities are registered in offshore jurisdictions (Dolphin Corp LLC in Saint Vincent and the Grenadines). In certain countries, regulators have issued warnings about Binomo operating without authorization (e.g., notices from CySEC and Brazil’s CVM).

However, Binomo is a member of the private International Financial Commission (IFC), Category “A.” Although not a government agency, this dispute-resolution body maintains a compensation fund of up to €20,000 per claim. Binomo joined the IFC in May 2018, which some interpreted as a sign of the company’s credibility. According to the broker, all client orders undergo regular inspections via the Verify My Trade audit, and client funds are kept in separate accounts for added security.

When it comes to trust and reputation, online feedback about Binomo is mixed. On the one hand, the broker has been recognized with industry awards—“Best Broker for Beginners” at the Forex Expo Awards (2015) and “Broker of the Year” at the IAIR Awards (2016). Binomo was even featured in Forbes in the context of online trading. On the other hand, independent reviews often mention heightened risks in working with the company. For instance, the portal Traders Union rates Binomo at only 4.38 out of 10, citing significant risks for traders. Meanwhile, the specialized site BrokersView labels Binomo an unregulated broker and warns that client funds are not protected by law, categorizing the platform as “scam.” So, from a reliability standpoint, Binomo’s reputation is contradictory: the broker attempts to build trust through IFC membership and transparent policies, yet the lack of licensing and negative press prompt many traders to remain wary.

Binomo’s Trading Platform and Tools

Binomo has its own trading platform, accessible via web browsers and a mobile application. The interface stands out for its modern, minimalist design and ease of use, a refreshing departure from typical solutions. Charts offer basic technical analysis features: indicators, trend lines, zooming. The platform runs smoothly, enabling trades to be placed without lags—a crucial factor for short-term binary options.

Types of Contracts. Binomo primarily focuses on classic “Higher/Lower” binary options with short-term expiration. A trader predicts whether an asset’s price will be above or below its current level after a specific interval. The option duration can range from 1 minute to 60 minutes. The return on a successful trade is fixed and can reach about 85–90% (depending on the asset, volatility, and account tier). For instance, major currency pairs often yield ~80%, whereas VIP traders may get up to 90%. If the prediction is incorrect, the stake is lost.

Besides standard binary options, Binomo also offers CFD contracts on the same platform. Essentially, these are trades without a fixed expiration time, allowing traders to close positions on their own to lock in profits or losses. CFDs on Binomo are available for a range of assets (currencies, commodities, indices). Still, binary trading remains the mainstay of the platform, with CFDs being less in demand by most users.

Tradable Assets. Binomo clients can access more than 50 underlying assets, including major currency pairs (EUR/USD, GBP/USD, etc.), shares of top companies, commodities (oil, gold), stock indexes, and cryptocurrencies. This variety allows one to find trading opportunities nearly any time, even on weekends (some OTC assets may be available on weekends). Nevertheless, Binomo’s asset list is slightly smaller than that of competitors—for instance, IQ Option provides over 100 instruments, including more exotic ones, and Pocket Option highlights an even broader range of crypto assets.

Key Features and Tools. Binomo’s platform aims for simplicity, so advanced functions like early trade closure, doubling, or rollovers are absent. Trades follow an “all-or-nothing” approach until the option expires. However, Binomo offers other useful elements:

• Demo mode. Every client gets a free $10,000 demo account for practicing without any monetary risk. The demo interface mirrors the live one, allowing novices to train under realistic conditions.
• Educational resources. The platform features a learning section with instructional videos covering trading basics, indicator usage, and more. There’s also a knowledge base and an FAQ describing popular trading strategies—especially for short-term binary trades—which newcomers can study and attempt on the demo account.
• Mobile application. Binomo provides official Android and iOS apps that let you trade on the go. User feedback indicates that the mobile version offers essentially the same functionality as the web platform, although some find chart analysis on smaller screens less convenient.
• Multilingual support. The website and app are translated into multiple languages, and customer support is also available in various tongues, making the service accessible worldwide.

Account Types and Trader Conditions

Binomo offers several account tiers determined by deposit size. Each tier provides different privileges:

• Standard Account. Granted with a minimum deposit of $10. Enables trading with real money and participation in the core tournaments. The standard option payout can reach around 85% on popular assets. Withdrawals may take up to three business days. Deposit bonuses can be ~20–50% (as part of promotions).
• Gold Account. Unlocked with total deposits from $500. Traders enjoy higher bonuses (up to ~100%), a personal manager, and access to exclusive strategies. Additional perks include priority withdrawal and certain tournament advantages. Returns on select assets can be 2–5% higher than on the Standard account.
• VIP Account. Awarded with deposits from $1000. Includes all Gold benefits plus 10% weekly cashback on lost funds, bigger trade limits, and occasional “risk-free” trades. Crucially, VIP withdrawal requests are processed faster: roughly four hours instead of up to three days. VIP bonuses can reach 100%, with occasional exclusive offers.

Be aware that Binomo’s bonus funds require meeting specific turnover requirements to be eligible for withdrawal (often needing to trade 30-40× the bonus amount). While you have an active bonus that isn’t fully “worked off,” you generally cannot withdraw funds. Many users highlight this as a critical nuance—bonuses can help amplify trading volume but might complicate cash-outs if turnover targets remain unmet.

Binomo also runs a loyalty program: active trading and participation in tournaments earn points that can be exchanged for deposit perks, further tournament entries, and other benefits.

Overall, these account types let traders begin with a modest deposit, gradually unlocking additional privileges as their experience and capital grow.

Financial Operations on Binomo: Deposits and Withdrawals

Funding your account. Binomo supports various payment methods, including bank cards (Visa, MasterCard), major e-wallets (WebMoney, Neteller, Skrill, etc.), payment systems (Advcash, Perfect Money), and localized solutions in different regions. The minimum deposit is just $10, making it accessible even for traders with limited starting capital. Funds usually appear in your account instantly or within a few minutes, with no deposit fee from the broker’s side (though a payment provider’s fee may apply).

On your first deposit, Binomo often offers a bonus (for example, +25% or +50% of the deposit), which is part of its marketing strategy to attract new clients. But as mentioned, accepting a bonus binds you to the required turnover before withdrawing, so it’s wise to accept it only if you plan on active trading.

Withdrawing funds. Traders must pass identity verification (uploading scanned documents) before withdrawals—this is a standard security practice. Typically, you can withdraw as little as $10 (or the currency equivalent). Withdrawal requests are processed in the order received, with the time frame dependent on your account type: up to three business days for standard traders, substantially faster for VIPs (sometimes same-day). You generally must withdraw via the same method used for deposit (to comply with anti–money laundering rules). Binomo doesn’t charge withdrawal fees, but note that if you haven’t traded at least double your deposit amount, a 10% commission can be applied. This measure aims to discourage fraudulent cash-outs (e.g., depositing and withdrawing instantly without trading).

Payout reliability. Feedback about Binomo withdrawals varies. Many traders confirm that funds arrive within the promised timeframe, though often towards the upper limit of that window. Positive reviews mention: “Got my money in the end, so you can trade here,” even if verification steps sometimes cause delays. At the same time, some negative reviews describe late payments, extra verification, or even account blocks when withdrawing larger profits. For example, one states: “It’s easy to deposit instantly, but withdrawing is nearly impossible… If you put money in, expect it might be lost.” Another says: “Everything was fine until I tried to withdraw more than $100— that’s where the problems started… it’s all a scam.” Such sentiments reveal a risk that bigger sums might trigger extra scrutiny from the broker.

The conclusion is that starting with small amounts is prudent. Verify a successful cash-out of modest gains first, then gradually increase your deposit if you choose. Also strictly follow platform rules, finalize verification, and your probability of facing withdrawal issues will drop. Many problems arise when users break user agreements or attempt to withdraw substantially more than they deposited, raising suspicions about bonus abuse or other violations.

Trader Education & the Binomo Demo Account

One of Binomo’s strongest points is its focus on supporting beginners. The platform is marketed as suitable for those wanting to test financial markets with small capital, so it provides robust training materials and a user-friendly demo experience:

• Free demo account. As noted, right after registration, every user can access the demo mode with about $10,000 in virtual funds. This account lets you place trades on real market quotes without risking actual money. It’s a great way to practice, test strategies, or simply get comfortable with the interface. For novices, it’s invaluable to sharpen skills without monetary loss.
• Video tutorials and a knowledge base. Binomo’s “Education” section includes brief videos explaining how binary options work, how to use the platform, how to deploy indicators, etc. You’ll also find a textual FAQ and terminological guides—for instance, how to read Japanese candlesticks, what support/resistance levels are, and how to manage risk. These resources are somewhat basic but helpful for those just starting out.
• Ready-made strategies. Binomo publishes outlines of several binary options strategies—detailing the indicators used, time frames, and rules for opening/closing trades. Examples include trend-following or breakout strategies for 1–5-minute time frames. Users can study these strategies and experiment with them on the demo account. While it’s unwise to rely solely on “canned” methods, they can provide a structured starting point.
• Webinars and tournaments as practice. Binomo occasionally hosts webinars or articles analyzing traders’ common mistakes. Moreover, free tournaments (discussed below) can also serve as an educational experience—allowing you to compete under real market conditions without risking real capital (in the case of a free event).

All in all, Binomo offers a beginner-friendly environment with a low barrier to entry, a demo account, and accessible educational materials. That’s why it was recognized as the “Best Broker for Beginners” in 2015. If you’re new to trading, Binomo can be a decent sandbox to practice in. Just remember the substantial risks, and do not move to live trading with significant funds until you’ve developed enough skill and confidence.

Tournaments and Competitions for Traders

Binomo is renowned for hosting regular demo-based trading tournaments, adding excitement and granting traders the chance to earn real money without risking their own. There are free and paid tournaments:

• Free daily tournaments. Held for anyone interested, using a demo balance. Typically, the broker sets a prize pool (e.g., $300) to be shared among the top participants. Every contestant starts with a fixed virtual amount (e.g., $1000) and trades for a limited time. At the end, the top 10 or 20 with the highest balances share the prizes as real funds. These events are a fantastic opportunity to begin from zero and, by winning, obtain a real-money balance for live trading.
• Paid tournaments (entry fee required). These come with larger prize pools (sometimes thousands of dollars) but require a small entry fee ($5 or $10). The concept is the same—everyone trades with virtual money over a set period, but the collective buy-ins boost the potential winnings for top performers. Usually, these attract more seasoned traders, so competition can be fierce.
• Monthly/special events. Occasionally, Binomo hosts larger tournaments celebrating holidays or company anniversaries, with bigger prize pools (tens of thousands of dollars). Some of these may be limited to Gold and VIP traders or winners of preliminary qualifying rounds.

Participating in tournaments is more than just a chance at cash—it’s also valuable practice in trading psychology under competitive pressure and time constraints. Many participants praise these events as an innovative feature. “I was really excited to compete. Even though I didn’t place in the top, it was still fun,” one trader comments.

Of course, it’s unwise to get so caught up in tournaments that you neglect your primary trading. Tournaments are more of a community perk than a main profit method. Yet Binomo definitely stands out for consistently holding these events, something many competitors lack or only do sporadically.

Pros and Cons of Binomo

Like any online trading platform, Binomo has both strong suits and weaknesses. Here’s a concise breakdown:

Advantages of Binomo:

• Ultra-low entry barrier. Trade from as little as $10 deposit and $1 per trade, suitable for novices.
• Free demo account with a substantial $10,000 virtual balance for learning and strategy testing.
• Intuitive, fast platform available in many languages—ideal if you value a streamlined interface.
• Educational materials and strategies provided—helpful for skill development.
• Frequent tournaments offering real cash prizes. A unique “gamified” feature for earning or practicing.
• Swift payouts for VIP accounts. Advanced traders benefit from significantly faster withdrawals.
• IFC membership and trade audits. Although not a state regulator, IFC membership provides potential compensation up to €20,000 and third-party verification of transactions.
• Mobile access. Comprehensive apps for trading anywhere, anytime.

Drawbacks of Binomo:

• No governmental license. Lack of oversight from recognized authorities (CySEC, ASIC, etc.) and offshore registration are red flags for veteran traders.
• Potential payout obstacles. There are recurring user complaints of delays and additional checks, especially with large withdrawals. Some accounts are blocked for rule violations.
• Questionable support service. While officially 24/7, many reviewers call it unhelpful or slow. Some claim repeated “canned” replies to serious issues.
• Limited trading features. Only standard binary options and some CFDs—no margin Forex, no advanced trading terminals like MT4/MT5. This narrower scope may limit advanced strategies.
• High risk of binary options. By nature, binary options are extremely speculative—most beginners lose money quickly without a solid risk strategy.
• Restricted in some countries. Binomo doesn’t operate in several regions (e.g., the USA, where binaries for retail clients face bans). Its main focus is on emerging markets in Asia, Africa, and the CIS.
• Bonus withdrawal limits. Bonus funds can be tricky to convert into cash due to substantial turnover requirements (often frustrating new users).

In conclusion, Binomo is a user-friendly platform with small deposit requirements and appealing features but falls short in long-term reliability for large sums. Evaluate both the advantages and disadvantages carefully before committing.

Comparing Binomo with Other Binary Options Brokers

The binary options market is crowded, and Binomo faces stiff competition. Many traders compare platforms before deciding, which makes sense—each broker’s conditions can vary significantly. Below is how Binomo measures up against popular competitors such as Pocket Option, IQ Option, Quotex, and Stockity.

Binomo vs Pocket Option

Pocket Option is among the sector’s leading binary options brokers and is often recommended by active traders. The main difference is that Pocket Option exerts some effort toward regulation: it holds certifications such as IFMRRC (though this is not a recognized global license), offering at least a semblance of oversight. Meanwhile, Binomo lacks such recognized authorization, which can unsettle experienced traders.

Key comparison points:

• Regulation and reliability: Both operate offshore, but Pocket Option tries to earn trust via certifications (IFMRRC/CROFR). Binomo leans on IFC membership. Neither is under a major government body, so both carry risk. Reviews suggest Pocket Option might be more consistent in paying out, whereas Binomo occasionally faces withdrawal delay complaints.
• Minimum deposit: Pocket Option accepts as little as $5, compared to Binomo’s $10, so they’re both accessible, though Pocket Option is marginally lower.
• Platform & features: Pocket Option’s platform includes social trading—copying the trades of top-performing users—plus trading signals. This appeals to newcomers wanting to learn from pros. Binomo lacks social trading, focusing instead on self-directed binary trades. Some also note Pocket Option’s broader asset coverage, especially with crypto.
• Payout rates & trading conditions: Both typically pay out 80–90% on popular assets, though Pocket Option can climb to 92–95% for some. They both offer short-term options (as little as 30 seconds). Pocket Option has unique features like 5-second turbo trades or integrated CFD-Forex within its interface, whereas Binomo mainly offers “all-or-nothing” binaries.
• Bonuses and tournaments: Pocket Option provides deposit bonuses and certain in-app achievements, but Binomo arguably puts more emphasis on free tournaments. If free competitions matter, Binomo excels here.
• Country availability: Pocket Option is a strong choice for traders in the United States, Europe, etc., as it allows sign-ups from regions where Binomo is not accessible. Binomo mostly targets CIS, Asia, Latin America, and does not serve U.S. clients.

Conclusion: Pocket Option frequently ranks high among binary options brokers, largely surpassing Binomo in reputation and functionality. If you value social trading, minimal deposit thresholds, and somewhat broader features, Pocket Option is likely the better option. Binomo, by contrast, offers a simpler interface and frequent tournaments. Both lack full regulatory oversight, so exercise care if you deposit larger sums.

Binomo vs IQ Option

IQ Option is arguably the most famous name in the binary options space, launched in 2013. Although it has expanded into CFDs and more, it initially became prominent for its user-friendly binary platform. Comparing it to Binomo highlights the difference between a more regulated global player and a smaller offshore broker.

• Regulation and licensing: IQ Option is partly regulated—its European division is licensed by CySEC (Cyprus) #247/14, granting legal operations across the EU (although the EU has restrictions on retail binary options, so IQ Option mostly provides CFDs there). Outside the EU, IQ Option operates via a Seychelles entity, but it still maintains transparency as a large, internationally recognized company with over 100 million users worldwide. Binomo doesn’t hold any official regulator’s license. IQ Option’s reliability is generally perceived as stronger due to partial regulation and scale.
• Platform and instruments: IQ Option’s proprietary interface is advanced, offering numerous indicators, customizable charts, multiple option types (classic binaries, turbo, digital options), plus an extensive array of CFDs on stocks, Forex, crypto, ETFs, and more. Essentially, IQ Option is a full-fledged trading environment. Binomo remains simpler and narrower, focusing almost exclusively on short-term binary trades.
• Trading conditions: Both have a $10 minimum deposit and $1 minimum trade. IQ Option’s binary payouts can reach ~95% for popular assets. So, in terms of basic cost and yield, they’re similar. However, IQ Option is known for imposing certain trade limits for new users and offering a VIP tier for deposits above $3000 with added perks. Binomo, meanwhile, has a VIP threshold at $1000 and emphasizes quick payouts for VIPs.
• Tournaments and community: IQ Option used to run large tournaments, but recently these are less visible. Binomo stands out for consistent events. Conversely, IQ Option boasts a massive community—forums, in-app chats, and more robust learning materials, which many find valuable.
• Mobile experience: Both have quality mobile apps. IQ Option’s mobile app has won awards and is highly regarded, while Binomo’s is simpler yet still functional. There’s no significant difference other than advanced charting features on IQ Option’s side.
• Reputation and user feedback: As a major company, IQ Option receives thousands of reviews—both good and bad. While some users complain about verification delays, it generally retains a more favorable global reputation than Binomo. If IQ Option is available in your country, many prefer it as a more credible brand. Binomo’s reputation is shakier, especially in professional circles.

Conclusion: IQ Option outperforms Binomo in terms of breadth (options plus CFDs), partial regulation, and brand trust. Choose IQ Option if you seek a comprehensive trading platform with recognized oversight. Binomo might appeal if you purely want short-term binaries with minimal complexity, or if IQ Option is not available in your region, and you enjoy Binomo’s tournaments.

Binomo vs Quotex

Quotex is a relatively new entrant (circa 2019) that has rapidly gained popularity through its simplicity and high payouts. Let’s compare it to Binomo:

• Regulation: Quotex, similar to Binomo, is unregulated by major authorities. It’s registered in Seychelles under Awesomo Ltd, also linked to Saint Vincent and the Grenadines. So, both are offshore with no governmental oversight. Their reliability is on par, with traders proceeding at their own risk.
• Platform: Quotex offers an ultra-minimalist web platform—arguably even simpler than Binomo’s. Some users find it extremely intuitive. Functionality focuses on basic binary options with standard indicators, no advanced features like early exits. Quotex includes built-in signals and the possibility to copy them, whereas Binomo does not. In terms of design, both are streamlined; it’s a matter of preference.
• Trading conditions: Quotex also has a $10 minimum deposit, $1 trades, and typically offers higher payouts, sometimes around 95–98%, even for standard accounts. Binomo usually caps at ~90%. That payout advantage is a major draw for Quotex. The total number of assets is also fairly large, especially in crypto markets.
• Execution speed and withdrawals: Reviews often praise Quotex for swift trade execution and faster withdrawal processing—sometimes under one day. Binomo might push withdrawals closer to its 3-day maximum. Also, Quotex doesn’t revolve around deposit bonuses, which can eliminate the tricky turnover requirements that Binomo imposes.
• Bonuses and promos: Quotex sometimes provides promo codes (like +30% deposit bonuses), but they’re optional. Binomo heavily promotes bonuses, though that can lead to the aforementioned complications. Quotex currently doesn’t have tournaments or large-scale events; Binomo does.
• Availability: Both operate in similar regions—Asia, Latin America, certain European countries, excluding the U.S. and Canada. Both are multi-language, so global coverage is comparable.

Conclusion: Quotex is a direct competitor, sharing Binomo’s simplicity but potentially beating it on payouts and speed. Binomo has a longer track record and extras like tournaments and a more polished brand. A prospective user might test both demo accounts before deciding. Quotex’s high returns attract risk-tolerant traders, while Binomo might appeal to those enjoying competitions and an established name.

Binomo vs Stockity

Stockity is a newcomer (launched around 2022–2023), focused on modern technologies and a younger demographic, particularly in Southeast Asia. How does it compare with Binomo?

• Registration and oversight: Stockity, registered in 2022 in the Marshall Islands, is unregulated, much like Binomo. The brand is still relatively unknown globally but is actively advertised online.
• Platform: Stockity reportedly has a fresh, user-friendly interface (web + mobile) with some “gamified” features, offering standard binary options and “CFD multipliers.” Its platform approach is quite similar to Binomo’s, featuring a $10,000 demo, $1 trades, etc. Because it’s new, some find it more modern, but the core concept is akin to Binomo.
• Conditions and assets: Stockity also has a $10 minimum deposit, typical assets (currencies, metals, indices, crypto). Payouts appear to range from 70–90%. Being new, Stockity might offer generous promotions or higher payouts to attract clients—common practice for startup brokers.
• Key differentiators: Stockity brands itself as a “platform for a new generation,” possibly featuring in-app tutorials or a built-in community. Binomo follows a more traditional approach with articles, videos, and external communities. Since Stockity is still building its user base, details about community support or tournaments remain limited.
• Reputation: As a fresh player, Stockity hasn’t accumulated many reviews. Initial overviews describe it as promising, but the trust factor is still developing. Binomo, by contrast, has been around for nearly a decade, with widespread recognition (for better or worse). Time will tell if Stockity can match or surpass Binomo’s popularity.

Conclusion: Stockity might be seen as a “next-generation Binomo.” Their offerings are nearly identical (small minimums, a basic interface, a strong push for new users). If Binomo is unavailable or unsatisfactory, Stockity could be an alternative. Yet, it’s untested and unregulated. Binomo has a longer operational history, so it’s more established. For many traders, the decision hinges on local availability, bonus offerings, and the level of trust in a brand-new platform.

Real Trader Reviews of Binomo

To understand a broker better, real user opinions can be illuminating. We examined dozens of reviews on forums, review websites, and YouTube to identify overall patterns:

Popularity

Binomo claims to process more than 30 million successful trades per week, with around 1 million daily traders. Even if these figures are marketing-inflated, it is clearly popular across Asia, Eastern Europe, the Middle East, and Latin America. In the binary options space, Binomo ranks among the market leaders alongside Pocket Option, IQ Option, Olymp Trade, and Quotex. On trader forums, strategies are commonly shared with Binomo in mind, and there’s a visible user community engaged in discussing tournament results and more.

Positive Feedback

• Many beginners praise the platform’s simplicity and the chance to start small. One trader comments: “I liked the platform because as a newbie, the tutorial videos really helped, and I could start on the demo.” This combination of a demo and user education gets plenty of kudos.
• Users often mention smooth withdrawals under normal circumstances: “They process pretty quickly… the withdrawal is fast, and the staff is helpful,” notes a trader from Kazakhstan. Small withdrawal amounts frequently go through successfully.
• Some testimonials commend the support team. For example: “If something is unclear, support is there—always polite, they respond promptly. Even when I had issues with verification and withdrawals, I emailed them, and we resolved it, and I eventually got my money.” Such experiences show that, for certain problems, support can be constructive.
• Bonuses and tournaments often get favorable mentions. Even skeptics concede that free tournaments are an interesting concept: “I was curious to join a contest… though I didn’t win, I still liked it,” says one reviewer.
• Payment flexibility. Many highlight how Binomo accepts local currencies and wallets, making it more convenient for users compared to foreign brokers that only take major currencies and cards.

Negative Feedback

• The most common complaint is about withdrawal issues. A number of traders claim their accounts were blocked or delayed when trying to cash out. For instance: “They won’t let you withdraw,” or “Everything is fine until you try to withdraw over $100—then support starts making excuses… total scam.” This sentiment suggests some users believe the platform only pays out smaller sums while hindering larger withdrawals.
• Suspicions of unfair price manipulation. Some forum posters accuse Binomo of altering price quotes: “On the demo, it’s great, but on live, the charts magically move against me.” Another states: “They’re basically manipulating your trades behind the scenes…like a casino.” Binomo denies these accusations, citing VMT audits for transparency, but skepticism remains in certain circles.
• Ineffective customer service. Alongside positive stories, others allege unhelpful replies or a lack of response. An English-speaking reviewer noted that the support agent simply ended the chat without solving the issue. Some Russian-speaking users mention that support only references the user agreement without offering practical help.
• Bait-and-switch bonuses. Some regret accepting a deposit bonus that they couldn’t “work off,” leaving them unable to withdraw even their principal. They advise skipping bonuses if you want the freedom to withdraw any time.
• Binary options stigma. Another large source of negativity stems from disillusionment with binary options overall. Many see it as akin to gambling. One user writes: “All binary options I’ve tried are scams. To keep your money, never touch them.” With so many questionable brokers over the years, the entire industry earned a dubious reputation. Binomo, as part of that ecosystem, inherits some of the distrust.

Expert views: In addition to individual users, financial reviewers weigh in. For example, a BinaryTrading.com review acknowledges Binomo’s improvements (account upgrades, tournaments, education) but condemns the “terrible support,” concluding they “cannot comfortably recommend Binomo” for that reason. Meanwhile, a more promotional site (Binoption) calls Binomo “one of the safest platforms for traders, with top-tier service up to 90% profitability,” though that likely includes marketing bias.

Criticisms and disputes

• A major portion of negative statements come from people who lost money. Indeed, many novices in binary trading lose their deposits by overtrading or lacking strategy. They often blame the broker: “the platform scammed me; I lost everything.” On examination, it can turn out that a user misunderstood the risks or tried to chase losses. Still, the high percentage of failures tarnishes the entire binary industry. As a significant brand, Binomo faces these accusations too.
• Verification and blocks. Some reviews claim that upon attempting to withdraw a large sum, the broker requested excessive documents or blocked the account altogether. Binomo points to user agreement violations (e.g., multi-accounts, bonus abuse) as justification. Sometimes these blocks are legitimate, but it can create an impression of “they don’t let you cash out big winnings.” Hence, it’s crucial to follow the rules precisely and verify your account early to reduce friction.
• Limited advanced functionality. Experienced traders might criticize Binomo’s lack of advanced features—only standard binary options, no modifiable expiry times, no integration with MetaTrader, etc. Binomo never claims to be a professional Forex or CFD broker, though. It’s simply not that type of platform.
• Lack of recognized oversight. Some users refuse to deal with an unlicensed offshore entity. They label Binomo a “non-regulated scheme” and prefer working with brokers who have CySEC or ASIC authorization. This is a valid argument—your funds are only as secure as the broker’s integrity, with no official safety net. So, trading is done at your own risk.

On YouTube, you may find videos titled “Binomo—Dangerous Fraud,” often featuring dramatic personal experiences or competitor-driven content. Verification is key: if Binomo were purely a scam, it wouldn’t likely have endured so many years with millions of active accounts. Still, caution is warranted. Binary options can be extremely risky, particularly for those without adequate training or risk management.

Ultimately, you can generate profit on Binomo if you trade responsibly and develop a solid strategy, but there’s no guarantee of success—no platform can promise that. Binomo’s job is to provide trade execution and maintain fair conditions. Whether that results in profit or loss depends on your trading approach.

Igor Lementov - Financial Expert and Analyst at Trading-Today.net