Mambo Investments Binary Options Review, Scam or not

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Options Broker 2020!
    Perfect For Beginners and Middle-Leveled Traders!
    Free Demo Account!
    Free Trading Education!
    Get Your Sign-Up Bonus Now!

  • Binomo
    Binomo

    Good Broker For Experienced Traders!

Scams and Blacklist

Scams are unfortunately all too common in the field of binary options. Dishonest brokers and reviews, or rigged robots and other auto trading services – the scams can come in many forms. So we feel it’s necessary to create this blacklist and list all known frauds and dishonest techniques in one place. We also go through the steps you can take to identify a potential scam and how to deal with the situation after the fact if you’re already a victim. If you know or suspect something is a scam, and we’re missing it on our blacklist, please let us know and we will look into it!

Why Are Stories of Scams So Common?

When any new financial instrument or form of trading first emerges, a whole range of businesses tend to get involved. It’s a fact of life that some of those product providers are going to be more trustworthy than others. This is certainly true of binary options. It is, after all, an accessible and popular method for individuals to trade the markets. What’s more, at least in their early days, binary options trading platforms tended to operate under the radar of the regulators and from any country over the internet – so it’s hardly surprising that unscrupulous operators seek to take advantage. Thanks to better regulation, a strong online trader community and honest reviews, it’s now a lot easier to tell a scam from a legitimate broker. But as with any international online marketplace, there are still some shady outfits who will leave you with less than you bargained for. So what are red flags to look out for? Here are the points to consider as you go about choosing your binary broker.

MyChargeBack.com are a company who specialise in helping binary fraud victims recover their money. They liaise with bank or credit card firms in order to get charge backs made to reclaim deposits. They will tell you if you have a valid claim via a free consultation.

Are Binary Options A Scam?

The term “scam” covers a wide range of behaviour, from providing misleading information to lure you in, through to vanishing account balances – and even dishonest trading advice. Likewise, a particular broker might not be technically fraudulent in its behaviour; it’s just that the service available on the platform (such as highly unreliable uptime or failure to reimburse funds in a timely manner) means that this is a broker that really ought to be avoided.

In all of these cases, the problem isn’t with binary options as a concept, it’s with the broker.

So it’s a matter of doing your homework before you commit to any particular platform. User reviews can be helpful (if they are genuine), but always treat such reviews with scepticism – and never make a decision on the basis of testimonials published on the broker’s website. Even trader forums can be problematic – look closely and you’ll often find that the forum is an offshoot of a particular broker’s website. Independent, thorough and comparative reviews are the safest way to ‘scam-check’ a broker. Ideally, focus on review sites that allow and encourage real-life users to get in contact and report and problems with particular brokers, so you can be sure that what you are reading is up to date.

Trusted Brokers in Russia

Below is an always up-to-date list of our top 3 trusted brokers. You can find a list of all the brokers we recommend here.

Broker Regulated Min Deposit Payouts Bonus
Binary.com $5 90% » Visit
Binomo $10 90% » Visit
BDSwiss $10 N/A » Visit

Regulation

The UK’s Financial Conduct Authority (FCA) does now regulate binary options. They have already created a list of unauthorised firms. While they are not calling them scams, they are making it clear that these firms are breaking the law by trading with UK visitors – so they are best avoided. The full list can be found here: FCA Unauthorised List

By contrast, the USA along with most other EU countries do regard binary options as financial products. Depending on where they are based, many platforms will, therefore, be subject to oversight from a regulatory body. Examples include the CFTC in the US and CySec in Cyprus. A platform’s regulatory status can be a highly valuable trust-indicator for traders seeking to avoid scams. It shows that the broker has to abide by certain minimum standards when it comes to service and transparency.

Marketing “Too Good To Be True”

Taken in isolation, the act of placing a trade should be a straightforward one; and indeed, the usability of a platform tends to be a big selling point for brokers. Although this aspect of binary options is “easy”, it’s something quite different to claim that profits are guaranteed. Realising a profit through regular trading requires knowledge of how markets behave, the ability to read market conditions and an understanding of strategy. If the risks are downplayed – or outright false assertions are made (along the lines of “95% trades are successful”), these are false assurances. It’s a sign that the broker may be less than scrupulous in other important areas and that the platform ought to be given a wide berth.

Terms and conditions

Transparency is essential. Read the smallprint, and be especially wary of needlessly convoluted procedures for withdrawal of funds. Terms regarding your initial deposit can be another source of contention; for instance, if you are denied access to the deposit until a certain number of trades are made – so your money is tied to the platform from the moment it is handed over. This deposit retention is often part of wider terms associated with a ‘bonus’. CySec have sought to ban these sorts of terms by stopping the use of ‘deposit match’ bonuses. Non-CySec brands are still free to use them however, so T&C’s must always checked.

Cold calling

These tend to fall into two categories. The first is where you are called out of the blue and invited to sign up to a particular platform. The second occurs where you are already tied to the platform and you receive a call (or email) from a “senior broker” pointing you in the direction of particular trades. Reputable brokers do not need to make cold calls. Bear in mind “cold calls” might include emails too – any form of unsolicited approach should be considered a “cold” contact and be treated with extreme suspicion.

Channel sales

You should always be clear about who you are dealing with. In some situations, you might visit what appears to be an actual broker’s site, click the link to sign up only to be redirected to another broker. Alternatively a trading “service” may dictate that you use only their recommended broker. These “funnel” sites are sometimes used as a front by brokers with a poor reputation, or are working alongside them to dupe visitors (often using the misleading marketing mentioned above). A good broker will be upfront about its identity from the outset.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Options Broker 2020!
    Perfect For Beginners and Middle-Leveled Traders!
    Free Demo Account!
    Free Trading Education!
    Get Your Sign-Up Bonus Now!

  • Binomo
    Binomo

    Good Broker For Experienced Traders!

Managed accounts

It’s one thing for a broker to give you access to the data and analysis tools to work out your own strategies (in fact, this is one of the signs of a great platform). It’s quite another for that broker to also offer trading advice. After all, with ‘over the counter’ binary options brokers, you are betting against the house; if the ‘house’ is making the trading decisions for you, it’s hardly likely that those decisions will be in your best interests. This form of “upselling” is often the most lucrative for the broker, and is usually the where traders lose the most. Encouraged by an “account manager”, traders are advised to deposit beyond their means and to over trade. On occasion large accounts will be wiped out in hours. The “advice” goes against any sound money management, and increases risk hugely. Always take responsibility for your own trades. Never allow a broker to make trading decisions for you.

Price Manipulation

There has to be a fair and transparent benchmark against which the broker sets its prices. This benchmark should be what’s happening in the real world; i.e. real-time market prices. If the broker reserves the right to set its own prices, you can assume that those figures will be skewed against you; in other words, a loaded deck.

Blacklist

The brokers listed below have generated a lot of complaints both directly and on the forum. The disputes vary from upselling and encouraging traders to over trade, to non-payment of withdrawals and price manipulation. There is little recourse for traders to raise a dispute with unregulated brokers, so it is generally advised that you look for trusted binary options brokers – preferably regulated in your own country where possible. “Scam” has become widely used as a term to refer to any form of poor service, but it should be noted that many of these brokers may have done nothing dishonest or illegal, but have attracted higher than normal levels of complaints. If in doubt, trade elsewhere. There are plenty of honest brokers out there.

Robot And Signal Scams

These signal providers, or robot services, are either scams or not recommended for other important reasons.

Instagram And Facebook

Beware of scams operating on social media. Again, binaries are not a get rich quick scheme. There are a huge number of accounts promising to trade on your behalf and turn $2k into $8k in a week. If these claims were true, the people behind them would not need to be running ads or signing people up – they would simply trade themselves.

Screenshots of successful trades are exceptionally easy to get – even genuinely. But these operators are unlikely to even bother trading – once you send them money, it is gone and you will not hear from them again (unless they think they can get you to deposit more). Always select your own broker, and always take responsibility for your own trades – dont let someone else trade on your behalf. If you do not understand binary options, or do not have time to trade – then do not trade at all. These scams often prey on people who lack experience.

What To Do If You’ve Been Scammed

Do you think you’ve fallen prey to a binary options scam? Read on to find out what you can do if you’ve been scammed. There are many ways to help ensure that you don’t fall prey to a scam but the reality is that even if you follow all those tips there is still a possibility you will be scammed. If that happens, what do you do? Do you sit back and take it? Do you give up on trading? No, you need to stand tall and look out for yourself. Trading is good, it is rewarding and can lead to a life in which you don’t have to go to a job and punch a clock. You can’t let the actions of one broker, signal service, robot or guru dissuade you from that path. This article is a look at what you can do if you think you’ve been scammed. It’s likely that once an issue arises you won’t be able to get your profits, it is possible to get back your initial deposit but it might take some work.

MyChargeBack.com are a firm specialising in helping victims of binary options fraud. They help claimants to explain the incident to the bank or credit card company, so that they fully understand what has happened. Some banks are unaware of binary trading and are unwilling to listen to claims. MyChargeBack help in this situation. They have a solid record of recovery from genuine claims.

If you are not yet looking for third party help, here are some steps you can take yourself:

  • Document everything. The very first thing to do is to make records of everything you can. This includes the brokers, or SSP’s, terms&conditions, copies of any emails/Skype/live-chat you have had with them, confirmation of your deposit, turnover requirements for bonuses and your trading history. No matter what you do next, this information will be required in order to get satisfaction. What you do next will depend on the type of scam you have fallen prey to.
  • Try to withdraw. Broker won’t let me withdraw. Contact the broker and try to find out why they won’t let you withdraw. The most usual reason is that you’ve not sent in the right ID documentation, something required by international law, and is an issue easy to fix. The next most pressing reason why withdrawals are not allowed is due to bonus terms and turnover requirements. If you haven’t met conditions you will not be allowed to make any form of withdrawal which is why you want to keep track of all your trading volume and turnover. If you didn’t accept a bonus in the first place your documentation will help you prove it. A good broker will try to solve your issues, a shady one will give you the run-around.
  • Make your voice heard. Broker keeps giving me the run-around. If your broker is giving you the run-around and won’t address your issues the next best avenue for satisfaction is to let the community know what is going on. After all, it is the squeaky wheel that gets the grease. You can do this by posting complaints, with details, in forums like the one here at Binaryoptions.net. When you do this be sure to let the broker know and send them a link. They may not care, a sign of a shady broker, but when it comes to reliable brokers they will want to address your problems to avoid poor publicity. When posting complaints give as much detail as possible, just saying that a broker scammed you is not enough, proofs of fraud are what get results.
  • Contact their payments provider. The broker won’t help, now what? At this point the chances that you have been scammed, and not just suffering from miscommunication, are quite high. If you can’t get satisfaction from the broker you will have to take more drastic measures. If you deposited by credit card this may mean calling the card company and requesting a charge-back. Let them know the initial charge was fraudulent and that the company in question is not returning your contact requests for best results. The Times Of Israel reported that a victim of fraud was able to get a full refund of his deposit after contacting the financial institution that processed the brokers payments. They withheld payments until the broker satisfied the claims.
  • Contact the regulator. Time to call out the big guns. The great thing about expanding binary options regulation is that there is an alternative for many traders who think they’ve been scammed, you can contact the regulator. In some cases this can be a challenge as many brokers are located off-shore and hidden behind holding companies and virtual offices so be sure to do your homework. If the broker is regulated contact the agency overseeing them, if they are not regulated contact the agency which oversees financial regulation in your country. If the broker is regulated they will have to address your issue, to the satisfaction of all parties, in order to remain compliant. If they are not regulated at least you can be assured at least they will have a harder time scamming any more people from your country. At best cooperation between regulators could result in the broker being shut down for fraud.
  • Be persistent. Shady brokers like to hire people who are good at deflecting questions and complaints, don’t accept what they are telling you. It may take time but eventually you will talk to the right person, or persons, and your case will be addressed. What is most likely to happen is that the combination of your contact requests, forum complaints and charges with regulators will add up to one thing, the broker giving you your money back to avoid a much bigger hassle.

How to Spot a Trading Strategy Scam

The internet is loaded with ads, articles, companies and individuals trying to provide you with the next big trading strategy that will make you rich overnight. Take pause my friend, here are tips to help you spot the scam.

A System or Only a Strategy?

First and foremost, trading strategies aren’t really going to help you become a good trader. What you actually need is an entire system. When you make a trading plan it needs to cover how you will enter markets, exit markets and how you will manage your money. It also needs to tell you under what market conditions you do all these things. That is a system, it tells you everything you need to know about how you will trade. A strategy on the other hand only tells you when to enter and exit, and may not tell you under what conditions it works best or poorly. It also may not provide guidance on position size or whether you can trade multiple assets at the same time – issues which are very important to address. In other words, a strategy may have missing pieces of information you need to be successful. We need a complete trading system…but marketers are smart, so they can easily just call the product they are selling a “system” to make it sound more complete. But is it? Here are several things to watch for which could tip you off the product is probably a waste of money:

Boxed System

A boxed system is one where you don’t get to know how the strategy works – it’s an opaque “black box”. For example, the product may just be a series of indicators or a service that tells you when to trade, but not why. This isn’t going to make you a better trader, because you don’t know what is happening behind the scenes. If a product or signal service stops operating you are left with nothing. Even if you made money with the product/service you have to start from scratch all over again. Make sure if you buy something it explains how it works, so that eventually you don’t have to rely on the product/service.

Extremely High Win Rates

Is it possible to have a 90% win rate? Absolutely, yet it is also possible to lose money with a 90% win rate. Stats are easily manipulated to tell partial truths or fabricate lies. Other popular tactics are saying things like “Made $500 in one day!” So what? That doesn’t actually tell you anything. If that was on a $1,000,000 account then making $500 isn’t so grand. And if they lost $3000 they day before, then making only $500 today and bragging about it is rather paltry. Read between the lines. What isn’t being said? To understand performance you need several bits of information: Account size (capital), percentage return, amount at risk on each trade, amount of profit per trade, win/loss ratio, biggest winner, biggest loser, average winner, average loser, number of trades and period over which the strategy was tested/profitable.

There are also some other metrics that could help you out, but if you ask the company for these bits of information, and they can’t or won’t give them to you, be suspicious. You can usually get a sense of what vulnerabilities and tendencies a system has by looking at the above stats. One of the main things is that the strategy should be tested over a long period of time, and in all market conditions–up trends, down trends, ranges, volatile and sedate conditions. It doesn’t necessarily have to profitable in each of these environments, but it should have at least been traded through them all so you know that the system is profitable overall. Often marketers will only publish results for a period where strategy did very well. But this doesn’t give you a real idea of how the strategy or system works over the long-term.

  • Related to stats there is something else you need to consider. If a system is profitable, that result is based on all the trades. If you buy the product or the service, are you going to trade them all? On issue many traders face when subscribing to a signal service is that they don’t trade all the signals. If you don’t trade all the signals then your personal results could be dramatically different than the typical results of the service.

Only One Direction

Avoid a system that only trades in one direction, for example only buys assets but won’t short sell them. Markets rise and fall, you want to participate in both trends.

No Trial Period

You should be able to test a product and be able to cancel without a fuss if the service isn’t for you. Usually a quick trading forum search on Google will reveal what others have shares about a product or service. No trial, no deal. Don’t trust anyone, test things out for yourself. If they won’t let you, then be wary.

Final Words on Identifying Scams

A product or service shouldn’t make you reliant on it. It should show you behind the scenes so that eventually you can trade on your own. Good products will always have customers since there are people who don’t want to do the work themselves, and there are always new traders. There is no reason to make every customer totally dependent. Be wary of stats that are thrown out. Ask yourself what the stats aren’t telling you. Also, if the stats they provide are legitimate, then you’ll need to trade all the signals to take advantage and get results typical of the service. Of course remember though, past performance is not indicative of futures results. That is way it pays to do some homework, and make sure the strategy/system/service/product is based on a long history, and has proven itself profitable over all types of market conditions. Test out a product/system/service before buying it. If they won’t let you try, be suspicious.

Case Study – JV Affiliate Marketers

In this section we will look at how you can avoid being scammed by Binary Options JV Affiliate Marketers. Its not so hard, but requires you to let go of your emotions and examine things in a logical manner, as many of the scammers use emotional greed/fear tactics to get your money. Once you understand this you can quickly and simply save your time and money with these unscrupulous dolts. Some scams are simply comical in how stupid they are, while others can be very well done con jobs that lure you in with seemingly genuine people/systems/reviews which later you find are the exact opposite, as you look at your $0 balance wondering “Where did my money go!?”.

As you will see in the numerous scam videos, all you have to do is “NOT DEPOSIT” then these scams no longer work. So next time you see videos that are of a similar nature, just know they are supporting scam systems/marketers. Understand if they require a deposit they are fly by night and even if they were not they are supporting the scammers by the nature of requiring you to deposit with a new broker. So just refuse to deposit and they go away. Not the same stories kind of stories and promises over and over all to get you to sign-up to their “free” system/bots… They are not free you have to deposit and they get paid on those deposits… So remember limited time/fast money/can’t lose!/just fund your account = don’t do it!

In this image above you can see many of the scam systems are connected to each other on the same servers most often. These JV marketers have tons of these turnkey scams as they are very low maintenance. The reason you see so many of them is after a few weeks of the new story line wares off and becomes boring they will start production on another one and keep it all fresh and new thus avoiding the wrath of their old scams being complained about and those complaints shared with others. If they keep it new they avoid this along with the fact most newbies jump from one scam to another hoping one of these will work, which none of them do because trading is a learned skill/job… So again, understand their stories and how they work, and don’t deposit .

Case Study – Scams on Social Media

Social media is a “perfect” platform for scammers and can be even more insidious and convincing, and unlike the JV marketers these people will talk to you directly, but only to a point. Once they figure they can’t get any more from you or you no longer have value to them, they will un-friend you in a heart beat. The one thing they are all after is your money, so be on the look out for them asking for deposits or sign-ups telling you about amazing profits and opportunities, which will have you end up with empty pockets. Videos such as those used with both “The Green Room” and “FB Wealth Group” will pretend to be traders/friends, while they are really just out to get your money through either signups or even trying to have you pay them directly.

Also – if you see them mention anything MLM (Multi Level Marketing) related, they are trained to lure you in, so run the other way. These people don’t play around and will say whatever is needed to get you to sign-up and invest. There is a 45 minute long interview of a person that was scammed by both “The Green Room” and “FB Wealth Group”. We named it Binary Options Horror Story because that is exactly what it is in all its gory details. If you are new to binary options read, and absorb the above warning signs fully to see how they scammed people out of their money so it does not happen to you. Notice also how the worked with the brokers directly, which implies that they can be directly involved as well.

Scammers will repeat the common element of wanting you to deposit or even asking for money directly and from there you can tell them “no thanks” and make sure to unfriend them.

Binomo Review

Introduction

Established in 2020, Binomo is a binary options broker registered in St. Vincent and the Grenadines under the trading name of Dolphin Corporation. They seem to offer everything that you would expect from a top level firm. While still awaiting CySEC licensing, they do hold an FMRRC certificate making them a regulated broker.

In addition to low trade requirements, they offer many other features. Various timed welcome bonuses and a demo account with $1,000 are just two of the benefits so you can start trading. They also offer comprehensive customer support and an excellent mobile trading experience for those who like to trade the markets on the move.

To find out more about this broker and whether they are the right choice for you, we have put together our comprehensive Binomo review. Our financial experts spend time analysing every aspect of trading with this particular broker to ensure that your trading experience is a good one. Find out more about why we think Binomo is an excellent choice.

In this review, you will learn:

    What makes Binomo stand out from their competitors The different trade types, payouts and assets available Why we think this broker is a good choice for traders

Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain from referring new customers.

Account Types

There are many account types available from Binomo, all of which require different deposit amounts and offer a range of benefits:

Standard Account

You can open a Standard account with just $10. This is a real account and you get all of the benefits of the Binomo trading platform which include:

    Access to most of the assets (there are 70 in total on the platform) Profits of up to 85% Minimum $1 trades, great for new traders looking to enhance their trading skills Withdraw money in up to 3 working days Technical support and great customer service support

Gold Account

A Gold account requires a minimum deposit of $500. In addition to the above, Gold account holders receive an extended range of assets to choose from, faster withdrawals (up to 24 hours), increased bonuses, advice and analytical support plus a weekly cashback amount of 5%.

VIP Account

For those who are more serious about trading, a VIP account requires a minimum deposit of $1,000. VIP accounts give you, the account holder all of the above benefits plus bonuses of up to 100%, fixed trade profits of up to 87%, withdrawals in less than 4 hours and a weekly cash-back of 10%. It also gives you access to all assets on the trading platform.

Despite the proprietary trading platform offering a VIP account, the deposit is still low in comparison to other brokers who require a much larger deposit on their top end account. Low deposits further indicate that this broker is a fantastic choice for those that are new to trading.

Trade Types And Payouts

The trade types available from Binomo are a lot less than you would receive from other brokers. They only offer High/Low Options and Turbo Trades. Expiry times for High/Low options are 15, 30 and 60 minutes. Another sign of a low entry-level focused on new or inexperienced traders is the inclusion of the simpler pair options.

They are also restrictive on the number of assets available with a maximum of 70 only being available to VIP account holders. Payouts range from between 70% – 87% which depends on the type of account that you have.

High/Low Trades

High/Low Options are the classic type of binary options trading and are otherwise known as the Call/Put options. The aim of this is to predict whether the price of the asset that you select will go higher or lower than the current price by the expiry time.

The low deposit and minimum trade requirements add weight to their favourability.

Bonuses And Promotions

Special offers are available, but many are date sensitive and change from time to time. They are prominent on the website though so you don’t have to go looking for them. Welcome bonuses seem to range from 25% to 100%, but often they are a little more complicated. One example of this is the bonus that allows you to make a deposit and get up to $150 of free options.

Mobile Trading

Being able to binary options trade on the move is make or break for a broker in this age of digital technology. The best binary options brokers offer a mobile app with others providing at least a mobile responsive website that recognises the device you are using. Binomo also offers an app which is available on the App Store, for iOS users and Google Play, for those using an Android device. Both mobile apps offer the best trading conditions compared to the website in our opinion.

The beauty of using the Binomo app to trade is that you can set it up to receive notifications, something that you can’t do with the website version of the Binomo trading platform. So, when you login with Binomo, wherever you are in the world, and whatever you are doing, as long as you have an internet connection you can carry on mobile trading.

Deposits And Withdrawals

Standard account holders can open an account with a minimum deposit of just $10. For Gold and VIP holders this is more. It is easy to make a deposit using one of many accepted payment methods including personal credit cards like Visa and MasterCard. Once you have made a deposit, the funds are available immediately to trade on the market.

If you are making a withdrawal, you merely request the amount that you wish to withdraw. Ordinarily, there are no withdrawal fees however if you haven’t traded your deposit amount a required number of times, then you will be charged a 10% fee. The time it takes for the withdrawal to reach your account depends on the account status that you hold. For Standard Account holders, it is three working days. Withdrawals can be expedited to less than 4 hours if you have a VIP account.

Special Features

Binomo has lots of desirable features. Not least their demo account which gives you virtual funds of $1,000 in return for your email address. We have already mentioned the low deposit and minimum trade requirements which add weight to the favourability of Binomo as a beginner’s platform. Their customer support seems to be comprehensive, and they are contactable in some different ways.

Another feature of the Binomo platform is the analytical support and advice that is available to Gold and VIP Account holders. They also offer “free training” which includes an extensive knowledge base, great for traders who want to learn more about binary options trading effectively. Binomo investment do not currently offer Forex trading, look for Forex brokers if you want to trade Forex currency pairs.

Customer Support

Being able to access the broker with questions and concerns is essential, especially to new traders. If you have a problem or a query, you want to know that it will be dealt with quickly and efficiently. Binomo offers a live chat function. Just click the little red message icon at the bottom of the screen, whether on a desktop or a mobile device, to open up the live chat box. You will then see a list of language options.

Besides live chat support, there is also a contact link at the bottom of the website. Here you will find the opportunity to contact Binomo support via Skype or email. There is also an address and a message box. The message box has some fields including your name, email, telephone number and details of your message. They also have a Facebook page and Google maps embedded into their website. All of this would indicate that they are easy to get hold of and highly visible.

Here are the contact details for Binomo:

    Email – [email protected] Skype – support.binomo Address – Dolphin Corporation, First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines.

Conclusion

All in all, Binomo seem to be a good choice for the new trader. Our conclusion is largely down to the fact that they offer a minimum deposit of $10 and a minimum trade amount of $1. Even if you were only to deposit $10, you would be able to execute ten trades to test the platform. $10 is less than you would lose from one trade on many of the other popular platforms with a minimum trade requirement of $25. In addition to this, their demo account is straight forward enough to encourage most newbie traders to give it a go. All you need to enter is your email address.

Customer support seems reasonable, and the mobile trading experience is suitable for trading on the go. The site is intuitive and easy to navigate. In our opinion, if you are looking for a broker that suits the first-time trader, then Binomo seems like a good choice. We would also like to state that during our Binomo review, we conducted our fraud due diligence to see if this binary option broker was a scam or not. We managed to deposit and withdraw fund with no issues and as a result, have no problem with this broker at present.

Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain from referring new customers.

Frequently Asked Questions

Is Binomo legit, will they scam me?

We have found no evidence to suggest that they might scam you, and the fact that they have been regulated for a few years without incident indicates that this is a safe broker.

Do they have a decent mobile or tablet app?

Yes, Binomo offers a mobile app for both iOS and Android users. Their website is also responsive. The apps are free to download and mean that you can trade on the move.

What bonus do they offer for new traders?

Binomo offers a variety of binary option bonuses that change regularly. They range from 25% to 100% and are deposit match bonuses. Match bonuses mean that you will get a bonus depending on the amount of your deposit.

Can I start trading on a free demo account?

You don’t need to make a deposit, enter your email and you receive $1,000 of virtual funds. You can then use the virtual platform to get yourself familiar with its functionality.

What’s the minimum deposit and trade amount?

The minimum deposit is $10. The amount is low in comparison to other binary options brokers. The minimum trade amount is just $1. Many brokers require a deposit of at least $25 with a minimum trade of this amount as well.

Jacob has been an author for us since our launch in 2020. He has over forty years’ experience in the financial sector and has held a variety of positions within financial services corporations and venture capitalist organisations.

Is Mambo Investments a Scam?

Mambo Investments promises very high and quick profits to traders. But does this Forex Robot really work or is it a Scam?

Comments are closed.

DISCLAIMER: All Information such as Winning Ratios, Results and Testimonials are to be regarded as simulated or hypothetical. All the information on this website is not intended to produce nor guarantee future results. There’s no guarantee of specific results and the results can vary.
RISK DISCLAIMER: Trading Binary Options is highly speculative, carries a level of risk and may not be suitable for all investors. You may lose some or all of your invested capital; therefore, you should not speculate with capital that you cannot afford to lose. You may need to seek 3rd party financial advice before engaging in binary option trading.

Binomo Online Binary Options Broker Review

What is Binomo?

Binomo is an online option trading broker that started operations in 2020. The broker is a subsidiary of the Dolphin Corp and is headquartered in the St.Vincent and the Grenadines under registration number 25151 IBC 2020.
with has there office located on the First Floor of First St Vincent Bank Ltd Building, James Street, Kingstown, St.Vincent and the Grenadines

Also, they work with a payment agent to secures there banking: Pollack Trade LTD (a company registered in accordance with the legislation of the Republic of Bulgaria, whose office is located at Georgi Sava Rakovski St. 96, Sredets Region, Sofia Municipality, Sofia 1000)

The platform provides contact customer support by Email [email protected]

Currently, this broker is only regulated by the International Financial Markets Relations Regulations Center (IFMRRC). The organization describes itself as a non-commercial body created to regulate services provided by brokers, dealers and other financial and investment institutions.

Binomo Platform guide:
Is Binomo a scam or legit online options broker?

One of the key features I look at when deciding whether a broker is legit or not is if they’re fully regulated by a reputable authority. As I mentioned, Binomo is regulated by the IFMRRC. I usually place preference to brokers who hold certificates from reputable authorities like CySEC, ASIC and FCA.

After combing through the Binomo website, I found that they have a pending CySEC and CPO regulation. Although it’s a good indicator about how serious the broker is about attracting traders from different parts of the globe, I’d advise traders to wait until they’re fully regulated by CySEC.

However, if you still want to try out the platform, you can take advantage of their low $10 minimum account deposit to start trading. This will enable you to try out the platform without risking a lot of money.

Trader Notice: You can safeguard your investment by trading only with a fully regulated broker. We have found 2 regulated brokers you might be interested in. Start trading with a reputable broker now!

General Risk Warning! your capital may be at risk

What makes Binomo stand out?

The Binomo platform is quite unique and offers several trader friendly features. One feature that really stands out is the ‘hotkey’ option. Once enabled, you can quickly issue commands such as increase/decrease investment amount and execute trades without using a computer mouse. The platform also provides many charts and technical analysis tools. This makes it easy to customize your trading interface to suit your trading preferences.

Does Binomo have any major shortcomings?

Every trader wants to have control over their investment. Binomo has a clause in their terms and conditions that seems to limit this control. According to the clause, you will have 10% deducted from your funds should you decide to withdraw before your trade turnover reaches at least twice the deposited amount.

For example, say you deposit $100 and decide to withdraw the whole amount before making trades worth $200 or more. Binomo will deduct 10% ($10) from your funds.

Should you open a Binomo trading account?

This online broker offers a demo trading account credited with $1000. This is a good place to get started in order to get a feel of the platform. You’ll only need a valid email account to open a demo account. In addition, you can easily replenish the demo account funds if necessary.

But, what does a real Binomo trading account offer?

The platform comes with a well-designed trader interface. It isn’t cluttered with a lot of features which is a great thing especially for beginner traders. Besides being able to trade directly from your browser, you can also access the Binomo platform via Android or iOS app.

Besides the demo account, there are three other account types to choose from as follows:
1. Binomo Standard Account

To open a standard account, you’ll only need a deposit of $10. Profitable trades provide a return of 85%. Withdrawals are processed within 3 working days.

2. Binomo Gold Account

The minimum deposit to open a gold account is $500. Gold account holders earn returns of up to 86% on profitable trades. This account type also attracts a weekly cashback of up to 5% and withdrawals processing of within 24 hours. Other benefits include a personal manager and advisory services.

3. Binomo VIP Account

The minimum amount needed to open a Binomo VIP account is $1000. You can receive up to 100% bonus once you open a VIP account. Returns on successful trades can reach 97% and withdrawals are processed within 4 hours. VIP account holders are also eligible for a 10% weekly cashback and other additional features not available to Standard and Gold accounts. It’s worth noting that each of these live accounts attracts a signup bonus. Bonuses are also offered to existing account holders from time to time. Binomo offers a range of tradable assets to choose from. These include currency pairs, commodities, stocks and cryptocurrencies. The number of assets you have access to largely depends on the account type you sign up for with VIP account holders having access to the widest range.

There are two option types to choose from. The turbo option allows you to enter and exit trades within a 60-second time frame. The classical high/low option on the other hand offers multiple expiry periods of 15, 30 and 60 minutes respectively.

You’re not tied down to the expiry you set at trade entry. The platform allows you to choose sequential 1 minute expiry periods of up to 6 minutes.

For example, if you enter a trade at 12.36 pm, you can set expiries of 12.37, 12.38, 12.39, 12.40, 12.41 and 12.42. There’s no limit to the number of positions you can enter at any given time. This makes it easier to maximize profits within a specific time period. You can also trade during weekends.

In order to be able to follow price trends easily, the platform’s chart can be divided up into several time frames ranging between 5 seconds and 5 minutes. By rolling your mouse wheel, you can zoom the chart in and out.

Binomo offers

The platform also offers a wide range of technical analysis tools that allow you to keep track of trends in real time. Binomo also offers the ‘hotkeys’ tool which is unique across the online options brokers I’ve tried out. What this tool does is activate keyboard shortcuts to common commands you issue while trading.

This way, you won’t have to rely on clicking on your mouse when issuing commands thus saving time. I would however recommend you first memorize the different hotkeys using your demo account before trying them with a live account.

If you’re just getting started as a trader, Binomo provides a collection of tutorials to get you on track. These include video tutorials, a detailed knowledge base, and strategies section. Their FAQ section however isn’t as detailed as you’d expect with any online options broker.

The minimum amount you can invest in a trade is $1. The platform accepts several payment methods that include credit/debit card, QIWI, Neteller and WebMoney. Withdrawals are made to any of these payment systems. The broker doesn’t charge any withdrawal fees unless you want to withdraw funds before trading an amount at least twice your last deposit.

Binomo also regularly offers tournaments which make it easy to earn money outside your normal trades.

So what’s my opinion regarding whether you should open a Binomo account or not?

I believe the platform has made an effort to stand out as a legit online options broker. I’m a bit reserved when it comes to brokers regulated by the IFMRRC only. Their requirement that you have a trade turnover exceeding twice your deposit amount before withdrawing is also something they need to work on.

However, given that you can deposit $10 and trade with as little as $1 I consider Binomo worth trying out. But before making my final conclusion, it’s best I consider existing trader complaints as well as a breakdown of how I rate different Binomo features. General Risk Warning! your capital may be at risk

Binomo trader complaints

Due to the IFMRRC regulation, it’s safe to say that Binomo primarily targets traders from Russia and other Asian countries. This could explain why I couldn’t find any complaints from traders in Europe or Australia (Binomo doesn’t accept traders from the US).

However, I did come across a YouTube video. In it, the trader complains about not being able to withdraw profits that were tied to bonuses. This is a typical complaint I’ve come across with regard to brokers that offer bonuses to new traders. I usually advise that you first read the fine print explaining the intricacies tied to profits earned from bonuses.

How do I rate different Binomo features?

As usual, I always try to compare different online brokers based on the different features they have to offer. So based on a rating of 20, here’s my breakdown of Binomo’s features.

User friendliness and accessibility

The Binomo platform is well designed. The trading interface isn’t cluttered with many features which often negatively affect usability. The ‘hotkeys’ option also makes it easy to issue different commands using your keyboard. Opening a demo account requires only your email address. The platform is also easily accessible via browser and mobile apps. The 14 language options also make it easy for traders around the globe to access the platform.

Account types

There are 3 real account types to choose from. The Standard account makes it easy to try out the platform without investing more than $10. Each account comes with its own unique features. However, Gold and VIP accounts offer more goodies including faster withdrawals, access to more assets and better support.

Number of Assets

There are about 80 different assets to choose from. These include currency pairs, commodities, indices and cryptocurrencies.

However, the number of assets you can trade in is limited based on the account type you hold. To access more assets, you’ll need to open a Gold or VIP account meaning you’ll need to invest more of your money.

Option types and expiry periods

You can choose between turbo options and classic high/low options. The former has expiry periods ranging between 1 second and 5 minutes. The latter has expiry periods of between 15 and 60 minutes. You can also enter multiple trades at a time.

Trader support

Getting started with the platform is quite easy. However, the amount of support you receive thereafter could use some improvements. Their phone support is available for 4 hours. You could still contact support through email,live chat and Skype.

Fees and effective return

Binomo doesn’t charge fees on trades executed. However, you can have 10% deducted if you decide to make a withdrawal before executing trades of at least twice your last deposited amount. Profitable trades can earn up to 87% effective return. This is considerably lower compared to other brokers who offer returns of up to 95%.

Deposits, withdrawals and bonuses

The platform accepts several payment methods including debit/credit card, Neteller, QIWI, Yandex and WebMoney. Withdrawals processing will take anything between 4 hours and 3 working days depending on your account type. Binomo also offers bonuses on deposits which can be up to 100% for VIP accounts. The turnover cap on bonuses ranges between 30 and 40 times the bonus amount. trading in Russia? We’ve found a highly rated fully regulated broker for you. Start trading with Olymp Trade now!

Website extras

Binomo provides the ‘hotkeys’ feature which I found to be unique, useful and time-saving. The ability to replenish your demo account is another feature I found useful especially for new traders learning how to use the platform. Another noteworthy extra is the different tournaments offered to traders. This allows you to earn extra money outside normal trading.

Conclusion

Binomo is a decent online trading platform. It comes with all the features you’d expect from a broker trying to attract traders from across the globe. The platform is well designed and offers many trader friendly features.

However, there are several shortcomings that cannot be overlooked. First is the regulation issue. Being regulated by the IFMRRC only locks out many traders especially from European countries.

Their phone support could use additional live hours. The 10% fee on withdrawals made before a certain turnover is achieved is another shortcoming worth considering before investing with this broker.

Overall, I wouldn’t rate Binomo very highly. If you’re looking for a highly rated and fully regulated options broker we’ve got the right one for you. Simply click here.

General Risk Warning! your capital may be at risk

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Options Broker 2020!
    Perfect For Beginners and Middle-Leveled Traders!
    Free Demo Account!
    Free Trading Education!
    Get Your Sign-Up Bonus Now!

  • Binomo
    Binomo

    Good Broker For Experienced Traders!

Like this post? Please share to your friends:
Binary Options Trading: Brokers Reviews
Leave a Reply

;-) :| :x :twisted: :smile: :shock: :sad: :roll: :razz: :oops: :o :mrgreen: :lol: :idea: :grin: :evil: :cry: :cool: :arrow: :???: :?: :!: