The IFC is an independent dispute resolution organization that's involved in regulating financial markets and institutions. Regulated by the International Financial Commissionīinomo has been a category "A" member of the International Financial Commission (IFC) since 2018. Here are four reasons why we think that: 1. Yes, we consider Binomo a safe platform to trade on. Now the next logical question arises: is Binomo safe if it is not licensed in India? Without going too in-depth about it, it's basically due to the Reserve Bank of India trying to stop the outflow of the INR from the country.Īfter all, with currency pairs, you're changing INR for other currencies, like USD or EUR.īut rather than being put off by the lack of licensing, it's very common for offshore brokers to operate illegally within India. No, Binomo is not SEBI registered, so it does not have a valid license from the Securities and Exchange Board of India, India's regulator for securities markets. So from the "home regulation" perspective, Binomo is a 100% legal trading platform. According to their statement( 1 ), online trading brokers don't require a license from the SVGFSA to operate legally. Vincent and Grenadines, where the regulating authority is the Financial Services Authority of St. Yes, Binomo is a legit trading broker on a global scale. Is Binomo a Legit Trading Broker Worldwide?
Let's expound on this topic as two separate questions. They also assist in more than 32 million successful trades per week across 133 countries. īinomo currently caters 978,100 traders worldwide daily. Traders can also enjoy regular trading tournaments, promotional events and a 100% welcome bonus if they register through this link. They also offer traders a $1000 demo account that you can refill unlimited times.īinomo offers a handful of trading tools, built-in strategies, popular indicators for technical analysis and much more, so they are there to help new traders start their trading careers. The company has made the platform very beginner-oriented and user-friendly: the minimum deposit is just $10 and the minimum trade size is $1.
The platform is certified by the International Finance Commission (IFC), a dispute resolution company that guarantees traders quality service and protection. Vincent and the Grenadines.īinomo was established in 2014, but Indians can only trade on the platform since 2018. It is owned by Dolphin Corp LLC, with headquarters in St. Binomo is a legitimate online trading platform mainly providing binary options for 60+ assets.
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