Scan to download
It is more convenient and faster to find brokers and complain
Regulators: SVG FSA
Binomo is a broker that we strongly advise against trading with, despite the seemingly attractive deals it offers.
Binomo claims to be operated by Dolphin Corp LLC, a member of the Financial Commission. However, this organization is only responsible for resolving disputes and has no legal authority to issue forex licenses or regulate forex activities. This is a red flag, as Binomo is using false information to appear legitimate. At the same time, we noticed that Binomo is located in St. Vincent and Grenadines and then searched for it in the registry of the Financial Services Authority of St. Vincent and Grenadines (SVG FSA). Although we did find it in the registry, it's important to note that the SVG FSA doesn't issue forex licenses or regulate forex activities. Therefore, Binomo is not subject to any valid regulations. Moreover, three financial regulators have issued warnings against this broker, including:
3) the Brazil's Securities and Exchange Commission (CVM), and you can check the full warning here.
Regarding your question, if you've had issues with withdrawing your funds from Binomo, the reason may be that it's an unregulated broker. Entrusting an unlicensed broker with your funds or trading with it is highly risky, as there are no safeguards to prevent fraud or theft. Therefore, we strongly suggest investors avoid unlicensed brokers like Binomo and opt for fully regulated ones instead.
FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.
The data contained in this website may not be real-time and accurate. The data and prices on this site are not necessarily provided by the market or exchange, but may be provided by market makers, so prices may be inaccurate and differ from actual market prices. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose. The provider of the data contained in the Website shall not be liable for any loss incurred by you as a result of your trading activities or reliance on the information contained in the Website.