Binomo Broker Review UAE
Binomo is a leading binary options broker regulated by FMRRC and International Financial Commission. It accepts investors from all over the world except the USA and Japan. Binomo presents its exclusive, modern, advanced and most user-friendly trading platform to the world. Binomo binary trading platform is suitable for professional traders and beginners too. The platform allows you to trade both classic binary options and the most popular turbo options (60 seconds- 5 minutes) with payout up to 90%.
Binomo – The Binary Options Broker
Binomo started its operation in 2014, and within this few years of operation, it has become a major Binary Options Brokers with an excellent reputation. It has distinctly maintained its trustworthiness, reliability and untarnished image among so many illegitimate brokers. It is increasing its clients base every day with new traders joining from every corner of the world. There are few countries from where Binomo doesn’t accept traders, it has clearly mentioned it on their website. United Arab Emirates traders interested for Binary Options trading can open an account with Binomo. In fact, it is one of the recommended Binary Options Broker in UAE.
Binomo has its registered address at Dolphin Corp, First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St.Vincent and the Grenadines.
The major advantages of trading with are
- Excellent trading conditions for beginners
- 24/7 customer service
- Unlimited Demo Account and free to use training materials
- You can open a real account by depositing $10
- Minimum investment starts at 1$
- Payout is up to 90% for winning trades
- Easy to use trading platform with several advanced features
- Built-in technical indicators
- Several contracts available for trading, including classic contracts
- Supports more than 10 payment systems
- Free unlimited demo account with $1,000 virtual money
Platform Features – Binomo Review UAE
Binomo trading platform is not similar to that available with most of the brokers, it is way better than those. It is developed and built by Binomo and has many advanced features such as customizable interface, Multiple charts windows, Built-in Indicators, and built-in graphics tool to help to make a better trading decision.
- More than 15 indicators
- Scalable and customizable graphics
- Four modes of price information displaying
- More than 20 graphical tools
- Visual display of transaction and expiry
- Multiple Tab with multiple charts
- Keyboard shortcuts and one-click trading feature
Is Binomo a trustworthy broker?
Yes, Binomo is a reliable broker for trading Binary Options in UAE and other countries. While carrying out the detailed Binomo Review UAE, we didn’t find anything serious against the broker. It operates while complying with Russian Regulator FMRRC and International Financial Commission. Binomo is in the registers of International Financial Commission as a Category A Broker, which indicates that Binomo follows the standards specified by IFSC and cooperates while audits carried out by 3rd party agencies.
The International Financial Commission has a client protection fund, which assures a claim of up to Euro 20,000 per client in case of a dispute settled in client’s favor. International Financial Commission handles the disputes professionally in a neutral and impartial environment. You can verify the Financial Commission’s certificate of registration here.
Binomo Account Types
Free Demo Account
- Free unlimited Demo Account
- Virtual balance of $1,000
- For learning and practicing without risk
- Recommended to try the features of the trading platform
- Risk Free Demo Trading
- This is a live trading account involving real money
- You can open a standard account by depositing $10
- This account allows you to access all the features and training materials
- The payout is up to 85% in this account
- The trader gets a Gold account status after he deposits more than $500
- The payout percent is up to 86% and weekly 5% cashback
- Less than 24-hour withdrawal processing
- Free personal manager and advisory services
- The traders with more than $1000 get VIP status
- Up to 100% bonus and up to 97% payout for trades
- 10% weekly cashback
- Withdrawal processing in less than 4 hours
- Other additional advantages too.
Binomo deposits and withdrawal
Binomo UAE offers its clients an opportunity to deposit with various methods of payments. No commission or hidden fees are included in the transaction. The funds appear instantly in the account balance, so you can start trading as soon as you finish the fund deposit. Start trading by depositing 10$ or more using the funding methods list bellow
- Bank cards: Visa, Master Card, Maestro, JCB
- Electronic payment: Webmoney, Skrill, Neteller, Qiwi, Advcash
- Cryptocurrencies: Perfect Money, Bitcoin, Litecoin.
The trader can withdraw funds via the payment method used to credit their account. The client can find the withdrawal request form into the Cashier page. For example, if a trader funded the account with 100$ and made profits, then he can withdraw 100$ using the same method of funding the account. The profit amount can be withdrawn using e-wallets or bank wire transfer.
Is Binomo a legal broker? Is Binomo legal in UAE?
Binomo is a legal entity registered in St.Vincent and the Grenadines as a financial trading broker. It also complies with FMRRC and International Financial Commission (FinaCom) as a Category A broker. Binomo respects the regulations of the countries where it operates and doesn’t accept traders from countries where it is illegal to trade Binary Options. It clearly mentions the list of prohibited countries on its website, and the list doesn’t contain UAE as a prohibited country. Hence it is legal to trade Binary Options in UAE with Binomo. However, the regulations keep changing from time to time, you must be careful about the local rules and be sure to stay compliant.
There are no such restrictions from the United Arab Regulators for trading with Binomo. Hence you can trade Binary Options in UAE with Binomo.
Binomo is a decent online trading platform. It comes with all the features a trader can expect from a global broker trying to attract traders from around the world. The platform is well designed and offer traders a lot of friendly features.
However, there are several shortcomings that cannot be overlooked. First is the regulation issue. Due to being regulated by the IFMRRC and the International Financial Commission (Finacom), many traders from European countries, have been locked out.
There is a 10% fee on withdrawals made before a certain turnover is being achieved, it is another shortcoming worth considering before investing with this broker.