Binomo is an offshore broker that offers assets of following asset classes: currencies (FOREX), cryptocurrencies, stocks, and commodities.

Is Binomo a scam or legit broker?

No, it is not safe to trade with Binomo. Binomo is owned by Dolphin Corp., which is an offshore company registered in St. Vincent and the Grenadine.

St. Vincent and the Grenadines is notorious for its practically absent requirements and regulations. Due to the setup cost is low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as Dax-300, JustForex and more. You can read our detailed article about the risk of trading with brokers from St. Vincent and the Grenadines.

According to the website, Binomo is a member of the international Finance Commission. However, the Financial Commission is not financial regulatory body from any Government. It is an independent self-regulatory organization. 

From our source, It costs €24,000 per year to become a member. However, and there is no handbook or guidelines for brokers to run their business. Therefore, there is zero protection for the traders. 

In addition, the broker has recently been blacklisted by the Cyprus Securities and Exchange Commission (‘CySEC’):

“CySEC wishes to inform investors that the website binomo.com, does not belong to an entity which has been granted an authorization for the provision of investment services and/or the performance of investment activities.”

We advise all investors and traders to avoid Binomo and other brokers from St. Vincent and the Grenadines. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FXTM and XM.com.

You can also share your trading experience with Binomo by commenting on this review.

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5 responses to “Binomo”

  1. Hi
    I am trading with binomo. I have placed a trade of 70 INR but when its placed its showing 10,400 INR. I have lost that money.

    • Hello, Rohit Jakhu! We will do our best to address your issue as soon as possible. Please send the details below to support@binomo.com from the email address linked to your account. the date, time, amount, and transaction number (we recommend attaching a screenshot so we can reach a resolution faster) We care about your personal data, so please note that your request should be sent to support@binomo.com. We cannot carry out verification on the basis of social media for safety considerations.
      Thank you for your feedback!

  2. Bro,
    Same reason i lost money. its shows like that because without your knowledge it will automatically trade multiple times. It happened to 6 times. i lost 35,000. After that i have sent mails. No response after 1 week i added 65,000 in order recover all amount i lost it while playing. i lost 1,00,000. Because of that error must have added extra amount. They always ask screenshots. Even you share with them. They will always ask them. they will solve it. If your not rich don’t play it. Main part is you will not find dolphin corp official page and owner of it.

    • Hey guys, I think binomo is a scam!
      I also checked this article which mentioned all the facts about it

      • Hello, Our platform is not a scam. Binomo has been on the market since 2014, and currently, the company has more than 16 million clients worldwide. We’d like to understand the issue and help you with it. Please shoot us a message at support@binomo.com with relevant details. We’ll be more than happy to assist you. Thank you!

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