Here we will try to provide an in-depth comparison on Binomo vs ExpertOption options platforms. Both of them are some of the most popular option trading platforms. Both are solid choices for any trader and millions of users around the world are already using them. But for newcomers, it is hard to pick which broker to chose and here we will look into the key differences between these brokers.
In this article, ExpertOption and Binomo will be compared side by side. We will analyze the most important aspects and reveal the features to look for when choosing an online options broker. Some of them are outlined below:
- When a broker has started its’ operation
- Who regulates the broker
- How many active users broke has
- What type of accounts are offered
- What type of assets are offered
- What is the maximum trade profit
- What payment methods are accepted
- What are the deposit and withdrawal conditions
- User interface and user experience
- How professional is the support
- Extra features
Let’s look into that
How long Binomo and ExpertOption have been operating
Both Binomo and ExpertOption launched the same year, in 2014. Interestingly both of them have registered offices in Saint Vincent and Grenadines. Binomo, on the other hand, was launched in 2013 and has its offices located in Cyprus.
There are two regulatory bodies of ExpertOption. First is the Financial Markets Relations Regulation Center (FMRRC) in Russia. Second is the Vanuatu Financial Services Commission in Saint Vincent and Grenadines. On the other hand, Binomo is regulated by the Financial Commission
Since its inception, Expert Option has managed to attract over 11 million traders and has over $30 million worth of transactions conducted each month. Binomo on the other hand has over 23 million traders and has over $380 million worth of transactions per month.
Both platforms have attracted traders from different regions across the globe. Their clients primarily come from Latin America, Asia, Eastern Europe, the Middle East and Africa. Note that both brokers do not offer their services to residents and citizens of North America, Australia, New Zealand and other countries.
Binomo and Expert Option – website traffic comparison
There are three account types offered by Binomo: Standard, Gold and VIP, and account holders of any type can participate in tournaments. The minimum deposit for each account is different.
The better the account the higher the minimum deposit required.
- Standard: $10
- Gold: $500
- VIP: $1000
Gold account holders have access to more assets to trade, fastest withdrawals and up to 86% payout. At the same time, they are eligible for investment insurance and a personal account manager.
With a VIP account, users have an even larger choice of assets to trade, with a total of 49 trading instruments. Very fast withdrawals, (4 hours or less) and the top payout rate standing at 90%.
With Expert Options, users have a wider range of account types. There are Basic, Silver, Gold, Platinum and Exclusive accounts available.
as Binomo, a higher account type offers more privileges and requires a higher minimum deposit.
- Micro: $10
- Basic: $50
- Silver: $500
- Gold: $2500
- Platinum: $5000
- Exclusive: (By invitations only)
Types of assets offered
Both trading platforms have a wide range of trading assets, which include currency pairs (Forex options), stocks, commodities, and cryptocurrencies. Perhaps such a wide selection of trading instruments is one of the main reasons for the increasing popularity of these platforms.
Return on investment
Each of the platforms offers a competitive return on investment. They are ranging from 70% and 96%. On Binomo platform investors can get up to 90% ROI, while on Expert Option it can get as high as 96%
Both platforms offer a large range of payment methods. It can be either credit or debit cards or various eWallets (for example Netteller or Skrill).
Deposits and withdrawals
In regards to deposits, it can be instant but at the same time, it can take several days depending on the method you have chosen. If you chose to go with credit/debit card, or perhaps eWallet, deposits are usually instant. On the other side, withdrawals can take up to 5 business days, but as has been mentioned above, it will depend on the account type you have.
Both platforms have their own web-based platforms that can be accessed through any online browser. Android and iOS apps are available for each platform.
Support is great on Binomo and Expert Options. It can be reached 24-7 through online chat, phone, email and also social media.
It seems that both options platforms have a great user interface and intuitive trading platform. They have advance charting that supports candle, bar and line graphs of the chosen instrument.
Platforms discussed in this article are very competitive, and both are very user-friendly for the beginner as well as professional traders. But which of these platforms have you already tried? Please share your experiences whether good or bad in the comments section below.
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