Quotex vs Binomo -
Quotex vs Binomo -
Quotex vs Binomo -
Which is the better broker in 2023
Which is the better broker
in 2023
- QUOTEX
Trustpilot – 4.8
Promos – 50% bonus on first deposit
Register
Trading involves significant risk and can result in the loss of your invested capital.
Quotex provides loads of assets to trade and provides the same benefits to all traders, regardless of account size. It was established in 2019 and has one of the highest Trustpilot ratings in the industry.
- Binomo
Trustpilot – 3.5
Promos – Up to 200% (varies by deposit amount)
Register
Trading involves significant risk and can result in the loss of your invested capital.
Binomo is a trading platform that offers multiple account types, providing more features with larger deposits. It was established in 2014 and is unregulated.
Pros and Cons of Quotex Vs Binomo
customer reviews
A good starting point when researching brokers is to look at customer reviews to see how current and past customers feel about the service. Off the bat, we can see that Quotex has a higher Trustpilot rating than Binomo This shows Quotex users are happy using the brokerage. However, customer reviews don’t paint the full picture. There are plenty of instances of astroturfing or falsified
reviews
account type
Another factor when choosing a broker is determining if the platform has an account type that suits your needs. Binomo offers three types of trading accounts with the best conditions offered to clients that deposit the most. Quotex offers the best conditions to all clients, regardless of the deposit amount. For most traders, knowing your broker is offering you their best conditions regardless of your account size is something they want.
deposit bonus
Another factor when choosing a broker is determining if the platform has an account type that suits your needs. Binomo offers three types of trading accounts with the best conditions offered to clients that deposit the most. Quotex offers the best conditions to all clients, regardless of the deposit amount. For most traders, knowing your broker is offering you their best conditions regardless of your account size is something they want.
trading instruments
More trading instruments equals more options for your investment goals. Quotex offers more than 400 trading instruments to all clients. Binomo offers between 48 to 74 assets, depending on the deposit amount. Having multiple assets to choose from gives you choice; you don’t need to switch brokers every time you want to trade something different.
minimum deposit
Lastly, different brokers require different minimum deposit amounts. Both of these brokers offer $10 minimum deposits, $1 minimum trade size, demo accounts, a wide range of account currencies, and deposit and withdrawal options. These features allow you to get started with minimal capital, keep risk low on each trade, practice, and deposit and withdraw with ease.
We’ll discuss each of these points – and more – in depth to help you make the right choice.
Types of Trading Accounts
With Binomo, there are three different account types, four if you count the demo account which also has different trading conditions than the live account.
Binomo offers three account types. A Standard account offers 48 assets, 3-day withdrawals, and a deposit bonus of up to 100%. The Gold account offers 61 assets, 24-hour withdrawals, and a deposit bonus of up to 150%. The VIP account offers 74 trading assets, 4-hour withdrawals, and up to a 200% deposit bonus.
Quotex has one account which provides all traders with access to more than 400 assets, a 50% deposit bonus, and withdrawals are typically processed within one day. For most traders, the Quotex account always provides quick withdrawals and more choices in assets to trade.
- QUOTEX
- Quotex: 1 account with great conditions for all traders
- Withdrawal time: 1 day
- Assets to trade: 400+
- BINOMO
- Binomo: 3
- Withdrawal time: 3 days, lower with Gold or VIP account
- Assets to trade: 32 to 74 depending on account type
Demo Accounts
Quotex and Binomo both offer free demo accounts.
The demo account in Binomo is limited to 32 assets, while live traders can access up to 74.
With Quotex, you don’t even need to sign up for a demo account; you can access it any time.
A Quotex demo account lets you practice trading hundreds of assets without limitation. It allows you to learn trading strategies, see that you are profitable, and learn the platform before risking real capital.
- Demo Account
Quotex: Yes
Sign-up required: No
Binomo: Yes
Sign-up required: Yes
Deposit Bonuses
A deposit bonus increases trading capital, allowing you to trade and profit from that larger amount. If you deposit $500, you can trade with $650, not only the $500 deposited.
More capital can increase income. Traders can invest more and thus make more. If you make 80% on a trade, the income is greater on a $15 investment than on a $10 investment.
Quotex offers a 50% deposit bonus.
Binomo offers deposit bonuses up to 100%, 150%, and 200%, depending on whether the account is Standard, Gold, or VIP. Basically, the more you deposit the larger the bonus.
There is quite a big difference in how different account sizes are treated at Binomo. That is discussed in the next section. At Quotex, on the other hand, all account sizes are treated equally.
- Deposit Bonus
- Quotex: 50%, regardless of deposit size
- Binomo: Up to 200%, requires large deposit
Instruments
Regarding the number of trading instruments offered, Quotex is a clear winner. They have more than 400 instruments available to trade, while Binomo offers between 32 and 74 depending on how much you deposit.
Both brokers offer trading on stocks, currencies, and commodities.
Traders like having a choice. While many traders choose to focus on only one or two assets, such as the EURUSD or gold, and become a specialist in them, you don’t want to have to change brokers if you change your mind. If you decide you want to trade something else down the road, you want your broker to have it. That’s why brokers that offer more assets, like Quotex, are more beneficial for traders.
- Trading Instruments
Quotex: 400+
stocks, currencies, indices, commodities
Binomo: 32-74 depending on account type
stocks, currencies, indices, commodities
Deposit Bonuses
A deposit bonus increases trading capital, allowing you to trade and profit from that larger amount. If you deposit $500, you can trade with $650, not only the $500 deposited.
More capital can increase income. Traders can invest more and thus make more. If you make 80% on a trade, the income is greater on a $15 investment than on a $10 investment.
Quotex offers a 50% deposit bonus.
Binomo offers deposit bonuses up to 100%, 150%, and 200%, depending on whether the account is Standard, Gold, or VIP. Basically, the more you deposit the larger the bonus.
There is quite a big difference in how different account sizes are treated at Binomo. That is discussed in the next section. At Quotex, on the other hand, all account sizes are treated equally.
Iq Option Provides immediate support and a personal account manager. It’s easy to operate on mobile or desktop.
Pocket Option offers up to a 50% bonus on your first investment. There are no hidden fees. Assets include Forex, Crypto, Indices, Stocks, Commodities.
Quotex allows a $5 minimum deposit and no withdrawal fees with global access in 19 different languages. There are unlimited trading signals and a $10 minimum deposit.