Binomo review

Binomo operates its own web platform and apps for Android and iOS. The minimum deposit is $10, and the minimum trade size is $1, which puts it in the same range as most brokers reviewed on this site.

The maximum payout published for Binomo is 90%. That is lower than the 100% listed for Deriv and the 98% for Quotex, but higher than nothing else on this list except Stockity, which also shows 90%.

For an Indian trader, the practical question is what happens after you open an account. Deposits are usually made through UPI via a payment partner, bank transfer, cards, or USDT on TRC-20. Withdrawals follow the same routes in reverse, and the platform does not publish a separate withdrawal fee schedule that we could verify.

Binomo holds an IFC (FinaCom) Category A membership on record. That is a financial commission membership, not a licence from a national securities or banking regulator. It does not appear in any register we read as holding a licence from a government financial authority.

In India, the Reserve Bank of India authorises persons dealing in foreign exchange and the electronic trading platforms they may use, under FEMA. The RBI does not license offshore forex platforms and fixed-time contracts. Binomo is not listed by the RBI as an authorised platform, and the RBI Alert List of November 2025 refers to entities not authorised to deal in foreign exchange under FEMA or to operate an electronic trading platform. The RBI states that the list is not exhaustive and that a resident trading outside permitted purposes or on an unauthorised platform is liable under FEMA.

Other brokers on this page show different records. Deriv holds licences from MFSA, Labuan FSA, and VFSC. Pocket Option holds a MISA (Mwali) licence but also carries warnings from the FCA, CONSOB, and CFTC. Quotex and Exnova show no licence found in any register we read. BinaryCent carries warnings from the VFSC, CFTC, AMF, and FMA NZ. Binomo itself has no regulator warnings on record that we hold.

Binomo runs on its own platform, not on MT4 or MT5. The platform is available on Android, iOS, and web, which covers the devices most Indian traders use. There is no third-party terminal integration, so if you already use MetaTrader or TradingView, you would be switching to a different interface.

For comparison, Deriv offers MT5 and TradingView alongside its own terminals, and Pocket Option offers MT4 and MT5. IQ Option, Olymp Trade, Expert Option, Exnova, and BinaryCent also run their own platforms only.

The Binomo platform is built for fixed-time contracts, with a simple order ticket and a chart-based interface. The minimum trade of $1 is typical for this category, and the $10 minimum deposit is the same as Stockity, Quotex, IQ Option, Olymp Trade, Expert Option, and Exnova. BinaryCent is the outlier at $250.

The payment routes available to Indian users are UPI, bank transfer, cards, and USDT. UPI is how most deposits here are made, usually through a payment partner rather than the platform itself. Bank transfer means IMPS or NEFT from any Indian bank. Cards are Visa and Mastercard, subject to your bank's international transaction limit. USDT is usually TRC-20 and is the route traders fall back on when a card is declined.

These are the same routes listed for the Indian market across the brokers on this page. The difference between brokers is not the list of routes but how reliably each one processes deposits and withdrawals. Binomo does not publish processing times that we could verify, and the platform's own documentation does not state a fixed withdrawal time.

For Indian traders, the tax position is set by the Income Tax Department, and any complaint about an unauthorised platform can be filed with the National Cyber Crime Reporting Portal. These are not Binomo-specific channels, but they are the relevant authorities for a resident using an offshore platform.

Binomo sits at rank 7 on this site's comparison list. Its $10 minimum deposit and $1 minimum trade are standard. Its 90% maximum payout is at the lower end of the range, tied with Stockity and below Deriv's 100%, Quotex's 98%, IQ Option's 95%, Olymp Trade's 95%, and Expert Option's 95%.

On licensing, Binomo's IFC (FinaCom) Category A membership is a form of external dispute resolution, not a regulatory licence. That puts it in a different category from Deriv, which holds three government licences, and from Pocket Option, which holds one but carries three regulator warnings. It is stronger than Quotex and Exnova, which show no licence at all, and stronger than BinaryCent, which carries four regulator warnings.

The practical takeaway for an Indian reader is that Binomo offers the same basic product as the rest of this list, at a lower payout than most, with a licence record that is thin but not warned. The RBI's position on offshore fixed-time platforms applies to Binomo as it does to every broker on this page.