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Open a Binomo account →01Executive summary
Binomo is a binary options platform registered in Saint Vincent and the Grenadines, operating without a license from any recognized financial regulator. Focused on emerging markets (Brazil, India, Indonesia), it attracts users with a simple interface, a low deposit and promises of fast returns.
The problem starts when the user tries to withdraw. The volume of complaints is significant, and the resolution rate on Reclame Aqui is only 56.9% — in other words, almost half of the reported problems are never resolved. The company does reply, but it frequently redirects people to its support email, where many users report getting only automated messages in English.
02Regulation: where is it registered?
Binomo is registered in Saint Vincent and the Grenadines — an offshore Caribbean jurisdiction that has no financial regulator supervising brokers. St. Vincent's FSA (Financial Services Authority) has publicly stated that it does not regulate or license trading companies.
In Brazil, Binomo has no authorization from the CVM. Offering binary options to Brazilians is considered irregular by the CVM under its ruling 681/2017.
The company uses Blugreen as its payment intermediary in Brazil, which adds an extra layer of complexity if the user needs to trace funds or file a lawsuit.
03Who owns Binomo and where it is based
The Binomo brand is operated by Dolphin Corp Limited, a company registered in Saint Vincent and the Grenadines — the same offshore jurisdiction mentioned in the regulation section. The platform launched in 2014 and, according to the company itself, has accumulated more than 40 million accounts opened in emerging markets such as Brazil, India and Indonesia.
There are no founders or executives with a public face clearly associated with the operation. The combination of an offshore base, the absence of a financial regulator and an opaque corporate structure is exactly what makes accountability hard when something goes wrong with the user's balance — there is no address in Brazil and no regulator to turn to.
04Minimum deposit, methods and what it costs to start (2026)
Binomo attracts beginners precisely because of the low cost of entry. In 2026 the figures for Brazil are:
Accepted deposit methods: Pix, Visa/Mastercard cards, cryptocurrencies and e-wallets (Skrill, Neteller, Perfect Money). In Brazil, payments go through the intermediary Blugreen, which adds one more layer between you and the platform.
The low deposit and the free demo account are real and they work. The problem is not in putting in money — it is in taking it out, as the next section shows.
05How withdrawals work (and why they stall)
Withdrawals on Binomo follow a standard flow, but this is where most of the complaints are concentrated. Step by step, what the platform requires:
- Mandatory KYC verification: sending a photo ID plus proof of address before the first withdrawal.
- Request through the same method as the deposit: in general the money comes back by the route used to deposit (Pix, card or wallet).
- A stated deadline of 1 to 3 business days — withdrawals to e-wallets are usually faster than to cards.
Why withdrawals stall in practice:
- Bonus turnover: if you accepted a bonus, you have to trade 30x or more before any withdrawal is released.
- Repeated re-verification: successive requests for new documents that push the release back.
- Clause 10.13: used to zero out the balance for a "breach of contract" with no detailed justification (see the complaints section).
06Complaints: the Binomo pattern
Binomo's complaints on Reclame Aqui follow consistent patterns that deserve attention:
Clause 10.13
A particularly problematic mechanism: Binomo invokes clause 10.13 of its Client Agreement to deduct the entire balance of the user. In several reports, the user receives an email saying their balance has been zeroed out for a "breach of contract" — without the company presenting any report, specific trade or technical justification to support the deduction.
Blocked after a profit
The most reported pattern is familiar: the user deposits, trades normally and, once a significant profit builds up, the account is blocked. One user reported being blocked with a balance of R$ 12,000 (R$ 1,800 in deposits + R$ 540 in bonus + R$ 9,660 in profit), with not even the original deposit returned.
The bonus that locks your withdrawal
Binomo offers deposit bonuses, but with mandatory turnover — the user has to trade a multiple of the bonus (usually 30x or more) before being able to withdraw anything. Many only discover this condition when they try to withdraw, creating a trap that keeps the money on the platform.
Reclame Aqui numbers (Aug 2025–Jan 2026)
A recurring report: "I deposited for 5 years, and over that period I was down more than 20,000. When I finally made a decent profit, they blocked my account claiming all sorts of things. They took the profit along with my deposit." — Reclame Aqui user, November 2025.
07The mentor network
Binomo runs an affiliate program that feeds a network of "mentors" and "traders" on Instagram and YouTube. These affiliates recruit new users by promising to teach trading "methods", but they profit from the losses of the people they refer — not from the trades themselves.
Instagram profiles are already being exposed publicly by other users, who document the relationship between these "mentors" and Binomo's affiliate program. The conflict of interest is obvious: whoever refers you earns when you lose.
08Binomo vs. other platforms
| Criterion | Binomo | Quotex | IQ Option |
|---|---|---|---|
| Regulation | None | None | CySEC |
| RA resolution | 56,9% | Not disclosed | High |
| Account blocks | Recurring | Recurring | Recurring |
| Portuguese support | Partial (English) | Yes | Yes |
| Bonus with turnover | Yes (30x+) | Varies | Yes |
| Brazil intermediary | Blugreen | Varies | In-house |
09Who it is for (and who it is not for)
You might consider it if:
- You understand this is pure speculation, not investing
- You only trade amounts you can afford to lose
- You will not accept a bonus (avoiding the turnover trap)
- You prefer to use only the demo account to practice
Avoid it if:
- You want protection if something goes wrong with your money
- You were referred by a "mentor" or affiliate on Instagram
- You accept a bonus without reading the mandatory turnover
- You are looking for an income stream from trading
10Frequently asked questions
What is the clause 10.13 that Binomo cites?
It is a clause in the Client Agreement that allows Binomo to deduct a balance for a "breach of contract". In practice, it is used as the justification for zeroing out the balances of users who make a profit, without the company providing specific details of the alleged breach.
Is the Binomo bonus free?
No. The bonus comes with mandatory turnover — usually 30x the amount or more. That means that to withdraw a R$ 540 bonus, you have to trade R$ 16,200+ first. If you do not reach it, you cannot withdraw anything — not even your original deposit, in some cases.
Is Binomo legal in Brazil?
No. Binomo is not authorized by the CVM and operates out of Saint Vincent and the Grenadines, a jurisdiction with no financial regulation. Trading as an individual is not a crime, but there is no regulatory protection.
Can I sue Binomo?
You can file a lawsuit in Brazil, but enforcing it against an offshore company is complex. The intermediary Blugreen can be held jointly liable in some cases, according to reports.
Who owns Binomo?
The brand is operated by Dolphin Corp Limited, registered in Saint Vincent and the Grenadines and online since 2014. There are no founders or executives with a public face clearly associated with the operation, and the offshore base makes any accountability difficult.
What is Binomo's minimum deposit in 2026?
The minimum deposit is R$ 30 and the minimum trade is around US$ 1. There is a free demo account with US$ 10,000 in virtual funds. Accepted methods include Pix, cards, cryptocurrencies and e-wallets, with payments handled by Blugreen in Brazil.
How do you withdraw money from Binomo? Are withdrawals real?
Withdrawals require KYC verification (ID plus proof of address) and usually take 1 to 3 business days through the same method as the deposit. In practice, they stall frequently because of mandatory bonus turnover, successive re-verifications and clause 10.13, which allows the balance to be zeroed out. That is exactly where the complaints are concentrated.
📊 Independent analysis and alternatives: Before you decide, it is worth comparing Binomo side by side with regulated brokers. See the full platform comparison on MelhorBroker and the analysis of IQ Option (regulated by CySEC) — an alternative with recognized regulation and a formal dispute resolution mechanism.
Want to trade more safely?
Regulated brokers offer similar markets with real protection, reliable withdrawals and Portuguese-language support.