Binomo Review Scam Complaint
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Binomo is an online binary options broker that was established in 2014. It offers wide range of financial assets on its custom made trading platform. The broker has originated from Russia and its trading conditions seem quite competitive, which will be discussed in below given full review. Furthermore, like most of the binary options brokers, this one also provides a helpful section of trading tutorials. The broker’s website is available in English, Russian, Chinese, Vietnamese, Indonesian, Thai, Portuguese, and Spanish languages.
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About the Binomo:
Binomo is an offshore binary broker that has two companies behind the brand, one is Tiburon Corporation Limited and other is Stagord Resources Ltd. Stagord Resources Ltd. is registered in Cyprus, but is not licensed by CySEC whereas, Tiburon Corporation is registered offshore, in the Seychelles. Moreover, the Tiburon Corporation Limited is registers with the Financial Market Relations Regulation Center known as FMRRC in Russia. The FMRRC is an independent self regulatory organization having no government involvement. Therefore, the brokers that are licensed by this organization are required to comply with a set of rules and guidelines that are informal in nature and the center is not entitled to initiate legal actions against any member broker for alleged misconduct or violations.
The minimum initial deposit requirement for clients of Binomo is $10, which is an average low amount. The minimum bet size with this broker is also very low compared to other brokers in the industry, amounting to only $1 also, the return percentage of Binomo is highest that is 85% which is also average for the industry. Binomo is the kind of broker who has special offers for their clients all the time and also come up with different ideas for promotions very frequently. However, it should be noted that almost all scam brokers use promotions to lure their clients.
Is Binomo legit or scam?
Binomo is not licensed by a reliable financial regulator and the reputation of this broker is pretty bad. There are various customers out there who have complained of rude and incompetent customer support and denied withdrawals by the broker. Binomo presented itself as a competent broker in the industry and has made claims in line with this false presentation. Therefore, it is advisable to the traders out there to not trust this scam broker and keep the money safe from them as it is not licensed to provide financial services to the binary traders.