BinomoFX Review: Forex Broker Scam Revealed

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BinomoFX Review: Forex Broker Scam Revealed

BinomoFX ( is a CFD and Forex scam broker straight from the gutter. Concrete evidence that we pulled off suggest that we are dealing with a scam broker. After weeks of thorough investigation, we are confident about this broker being a scam. From numerous email complaints we have received to scathing comments, Binomo FX is a scam. Here is the full detail regarding Binomo FX and its cons.

BinomoFX Review

BinomoFX Review:

Straightaway, you will realize that they have what seems like a good interface. From the first point of contact, you will see that their website looks user friendly. Don’t be wowed by this as it’s a copied website. We have seen pictures used on this site being the same as pictures on another Forex scam. Notice how the guys are sitting at the table, it’s the same picture as with TradeHash Review.

According to their homepage, users are required to place their own bets on the best conditions. Just wondering, what conditions are these? What conditions are these that they are talking about? Plus, what they are calling a minimum investment amount is way too much. Members are required to cough with $400 as their minimum investment amount. Contradicting statement is that you will also require a minimum of $5000. Which is it?

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BinomoFX Fake Automatic Feature.

For sure, these guys are just scammers even when they are selling their product. According to their manifesto, members can copy bets and apply them. It means that members can get automatic trading features. Folks, this is a big lie that should not be condoned. There’s nothing like an automated platform which guarantees winnings. All these are ploys meant to lure you into signing up with BinomoFX.

Guys, you should know that there’s nothing like automated trading that brings results. You will never get a Forex broker that assures automatic trades. Why? Traders know that promising automatic and guaranteeing wins is next to impossible. No trader or app can manage to guarantee profits. Markets are always volatile and prices change constantly and without warning. It makes what they are promising simply impossible.

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Fake Traders List.

Alexander D is a character that has been used once again as a winner with BinomoFX. We wonder how this is the case. TradeHash also has a guy with the same name and appears number one. Could this be a coincidence? We highly doubt that this is a coincidence. As we earlier said, this is a fake Forex scam that has been copied.

BinomoFX Scam

What we find offensive is that the entire list of best traders in the last 24 hours has been copied. Do you mean to tell us that we these people trade with TradeHash and make the same list? Coincidence or not, we can smell from a mile away that this is a scam. What’s also disturbing is that they are using the same profit margins on two different scams.

Having seen this, we totally believe that BinomoFX is a scam. No way in the world can two Forex brokers can have the same winners. No way can two brokers have the same winning margins.

Fake BinomoFX Top Profit Ranking.

Mohammed S. is also another fictitious character that has been used by Binomo FX. Yes, this person is supposedly the top ranked trader. It comes as no surprise as this very person is the same top ranked trader in TradeHash. You can now see the pattern here. These people are simply trying to get as many newbies to sign up. Once people sign up, they will take away all your money and move on.

If you want to know that you are dealing with a scam, the timeline on top ranked profit maker does not change. Yes, timeline is still the same and doesn’t change with time. Another thing that doesn’t change is the amount. You would expect that next day there will be other top ranked members. Not with BinomoFX as the list remains the same for weeks. Since we started doing our review, we didn’t see the list change even a bit. It clearly confirms we are dealing with a scam.

Fake Achievement Rewards.

Just like most notorious scams, BinomoFX is offering achievements which is another name for bonuses. We should let you in on a little secret, offering of bonuses is strictly forbidden. No one should offer members bonuses. Regulation bodies have been strict with issuance of bonuses to members. In fact, if found out, the Forex broker ceases to exist. Bonuses are not allowed, period!

Reason why bonuses are not allowed is that when it comes to withdrawing, members are asked to pay bonuses back. How can you pay for a reward you didn’t ask for in the first place? This is why we believe that we are dealing with a notorious scam that is relentless. All BinomoFX wants to do is steal your money and leave. Never sign up with this scam as it’s a sure way of losing money.

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Bogus Web Platform.

BinomoFX Fake

According to their homepage, users can get web platforms for their devices. One can get mobile platforms and also desktop platforms. Problem with their platforms is that we could not be able to download. We tried downloading the platform but download stalled at 58%. It means that their platform is unstable. How do they expect traders to trade on the go? Why is their web platform only one that works?

Web platform maybe working but it also has some flaws. One can easily see that it’s not SSL protected. It means that hackers can easily attack the site and steal your credit card information. Worse still, they can steal from the accounts and drain members of all their deposits. Having an unsecured web platform is rather risky. No way can we deal with a CFD and Forex broker who is not fully protected.

Is BinomoFX Registered?

Another alarming problem we noticed is that this broker is not registered. On their website, they claim to be registered in the Marshall Islands. One, this is an offshore broker. It means that they do not follow strict rules and guidelines set by the regulatory institutions. Money can easily be deposited into unknown people’s hands that could be used in dangerous activities.

Why don’t they disclose who they are and register themselves with relevant bodies? Some of the regulatory institutions we contacted don’t have a clue who BinomoFX is. Contact was made to the FCA and CySEC who confirmed they have never registered this broker.

Is BinomoFX a Scam?

Yes, BinomoFX is a scam and should be avoided. Members and readers are asked to close their accounts and resist opening them. These are professional scammers who simply want to swindle your money.

BinomoFX Final Verdict.

BinomoFX Scam Review

BinomoFX is nothing but a copied scam that is meant to rip off members. Best thing you should do is sign off and stay away from it. We also suggest that you ignore all links that suggest that you sign up with Binomo FX.

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