Quotex vs Binomo

Quotex or Binomo – which is better for UK traders 2024? Compare Quotex and Binomo in this detailed breakdown of their platforms, features and fees.

Quotex vs Binomo Comparison Table 2024
Quotex Binomo
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4.4
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3.4
Quotex is ranked #11 among binary options brokers. Binomo is ranked #11 among binary options brokers.
Review
Review
Quotex has closed or no longer accepts UK clients.
Quotex has been a top binary options broker since 2019, offering over 400 binaries across currencies, commodities, stocks, and crypto. With contracts spanning 5 seconds to 4 hours, short-term traders enjoy flexibility while payouts that exceed 95%, offer high potential returns. Continuously adapting to trader demands, Quotex provides a user-friendly platform for trading binaries.
Binomo has closed or no longer accepts UK clients.
Binomo is a beginner-friendly binary options broker that offers trading on forex, stocks and indices via high/low binary options on a simple web-based platform with payouts up to 90% and reliable service. The firm was launched in 2012 and is based offshore.
Pros
  • Quotex maintains its position as an excellent choice for short-term binary trading with turbo contracts from 5 seconds
  • Account funding is straightforward thanks to the wide range of payment methods, zero fees and intuitive cashier portal
  • The platform continues to delivers a superb trading environment with strong charting tools for technical traders
  • The $10 starting deposit and $1 minimum stake make Quotex.io accessible to beginners
  • Daily signals are useful for finding opportunities, especially for newer traders
  • Custom-designed platform that works quickly on mobile devices
  • Demo account available to all with no restrictions
  • Low minimum trade value from $1
  • Competitive payouts up to 90%
  • Thousands of daily traders
  • Low minimum deposit of $10
  • Clear tiered account system
Cons
  • Quotex is unregulated, which means traders may receive limited safeguards
  • Despite advertised payouts of up to 98%, testing shows average payouts trail best-in-class broker Pocket Option
  • There is no copy trading, which could support new traders looking to learn from experienced investors
  • Customer support has been weak during tests with no live chat and slow response times
  • Quotex trails industry leaders when it comes to education and market research
  • Contract expiry times of 1 minute to 1 hour are very short term for many traders
  • Limited extra features with no copy trading
  • Small selection of tradeable instruments
  • Weak regulatory oversight
FCA Regulated
No No
Instruments
Digital Options on Stocks, Indices, Forex, Commodities, Cryptos Fixed Time Trades
Demo Account
Yes Yes
Minimum Deposit
$10 $10
Payment Methods
Minimum Trade
$1 $1
Mobile Apps
iOS & Android iOS and Android
Trading App

Quotex offers a fully-featured trading app that’s packed with helpful tools, from dynamic charting to in-built signals. It follows the same user-friendly design as the desktop platform, ensuring a smooth transition whether you’re trading from a computer, tablet or mobile device. And with over 1 million downloads and at least 4/5 on the Apple App Store and Google Play Store, it’s proven popular with all types of mobile traders.

The Binomo app distinguishes itself by offering a comprehensive toolkit, including a risk-free demo account and over 30 analytical tools for technical analysis, ensuring newcomers and seasoned traders can confidently navigate the markets. Moreover, its diverse asset offerings across various markets, coupled with the opportunity to leverage CFDs provides a range of opportunties, all while having access to 24/7 support.
iOS App Rating
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4.2
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4.6
Android App Rating
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4.1
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4.7
Margin Trading
No No
MetaTrader 4
No No
MetaTrader 5
No No
cTrader
No No
AlgoTrader
No No
OmniTrader
No No
TradingView
No No
Autochartist
No No
eSignal
No No
Trading Central
No No
STP Account
No No
ECN Account
No No
DMA Account
No No
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
No No
Market Maker
No No
P2P Trading
No No
Spot Trading
No No
Auto Trading
No BinomoBot tracks 12 moving and 5 technical indicators and can be set up in than 3 minutes.
Copy Trading
No No
Social Trading
No No
Trade Signals
Daily Trading Signals Yes
VPS Hosting
No No
Tournaments
Yes No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$0 $30
Islamic Account
No No
Account Currencies
  • USD
  • EUR
  • GBP
  • INR
  • JPY
  • MYR
  • IDR
  • RUB
  • BRL
  • NGN
  • THB
  • VND
  • UAH
  • USD
  • EUR
Commodities
  • Gold
  • Oil
  • Silver
  • Gold
  • Oil
  • Silver
Forex
You can trade binaries on 20+ currency pairs including majors, minors and exotics. This is a smaller range of forex assets than leading competitors but payouts are reasonable, climbing to over 80% on the EUR/USD during testing. Binomo offers a competitive suit of currencies from majors like EUR/USD to exotics like EUR/MXN. But with contracts spanning 1 minute to 1 hour, the broker is best for short-term forex binary options traders.
Assets
20+ 19
GBPUSD Spread
N/A N/A
EURUSD Spread
N/A N/A
EURGBP Spread
N/A N/A
Cryptocurrency
Quotex only offers binary options trading on a handful of cryptos. Yet while the range of digital currencies is narrow, there are leading tokens, including Bitcoin, Litecoin and Ethereum. Payouts on cryptocurrencies are also above average based on routine tests. Binomo offers 24/7 fixed time trades on a few major cryptos, including Bitcoin. However this is significantly less than alternatives like Focus Option which offers more than 80 digital tokens.
Spread
N/A N/A
Coins
  • BTC
  • LTC
  • ETH
  • XRP
  • BTC
  • LTC
  • BCH
  • ADA
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
Binary Options
Quotex continues its streak near the top of the industry with ultra-short-term binaries on hundreds of assets. The binary broker provides a web platform that delivers a terrific user experience with a clean design, multiple charting styles, dozens of indicators and daily signals. Binomo offers binary options trading around the clock, including the weekends. You can speculate on the short-term price movements of popular markets, from stocks to currencies. Payouts are competitive climbing to 90% and contracts start from just 1 minute.
Payout
98% 90%
Expiration Times
5 seconds - 4 hours 1 minute - 60 minutes
Boundary Options
No Yes
Ladder Options
No No
Quotex Binomo
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