Updated 9 October 2026Is Binomo a scam or legit?
Binomo has been operating since 2014. Below we check who runs it, which regulators have warned about it, how withdrawals work and where the real risks are, so you can decide on facts rather than forum posts.
By BinarySelector editorial teamPlatform research for African markets · 9 October 2026
Short answer
We found no evidence that Binomo is a fake platform that simply takes deposits: it runs a working trading platform under a named company. That does not make it safe. It has no licence from a top-tier regulator, so if something goes wrong there is no supervisor or compensation scheme to turn to. 1 official warnings or alert-list entries name it: RBI (India).
What we checked
- Operating since
- 2014
- Top-tier licence (FCA, CySEC, ASIC…)
- No
- Official warnings and alert lists
- RBI (India)
- External dispute body
- The Financial Commission
- Free demo account
- Yes
- Minimum deposit
- $10
- Minimum withdrawal
- $10
- Official website
- binomo.com
What we found about Binomo
Binomo has operated since 2014 through Dolphin Corp LLC in St Vincent and the Grenadines and has been a Category A member of The Financial Commission since 2018, so disputes have a private external route. India's RBI lists Binomo as unauthorised. Withdrawal speed and payouts depend on your account level, with VIP clients processed first, and bonuses come with turnover conditions, the usual source of 'I can't withdraw' complaints.
Red flags
- No top-tier licence: you cannot take a dispute to a financial regulator in your country.
- Named on official warning or alert lists: RBI (India).
- Deposit bonuses come with turnover conditions that can block withdrawals until they are met.
- The product works against you: with a payout of up to 90%, you need to win more than 52.6% of your trades just to break even.
What speaks in its favour
- A track record of about 12 years, longer than many offshore brands survive.
- Member of The Financial Commission, a private dispute-resolution body you can complain to.
- A free demo account, so you can test the platform without depositing.
- A low minimum deposit ($10) lets you test a withdrawal with a small amount.
Beware of fake Binomo sites and 'account managers'
Many stories of people losing money 'at Binomo' involve fake copies of the site, Telegram 'signal' groups or self-styled account managers who ask for your password or for payments to a private wallet. The official address is binomo.com. Type it yourself or use the official app, never send money to a person, and never share your login or two-factor codes.
How to protect yourself
- 1Start with a small deposit, close to the $10 minimum.
- 2Complete identity verification before you need to withdraw.
- 3Request a small test withdrawal early, before you add more money.
- 4Skip bonuses unless you have read the turnover rule: a bonus can lock your balance.
- 5Turn on two-factor authentication.
- 6Only trade money you can afford to lose: most retail traders lose money on fixed-time trades.
Frequently asked questions
Is Binomo legit?
Binomo is a real, operating broker, but it has no top-tier licence. That means limited protection for your money rather than a proven scam.
Can I withdraw money from Binomo?
Yes, after identity verification. The minimum withdrawal is $10. Withdrawals usually go back to the method you deposited with, and an active bonus can block them until its turnover is met.
Why do some people call Binomo a scam?
Most complaints involve losing trades, bonus turnover rules, slow verification, or fake clone sites and Telegram 'managers'. Losing trades are the product working as designed: for most traders, fixed-time trades lose money over time.
Is my money safe at Binomo?
Less safe than at a regulated broker: there is no compensation scheme and no regulator in your country to complain to. Keep your balance small and withdraw profits regularly.
Sources: BinaryOptions.net – Binomo (payout 90%, expiry 1–60 min, tiers)TradingFinder – Binomo (Dolphin Corp LLC, FinaCom)RBI Alert List (Nov 2025)