Upstox vs Binomo

Upstox vs Binomo Comparison Table 2024
Upstox	Binomo
Review 2.9 Upstox is #31 in our broker rankings.	Review 3.4
Traders from US accepted	Traders from US not accepted See available binary options brokers
Upstox is an established Indian broker offering BSE, NSE and MCX stocks, alongside IPOs, mutual funds and futures. Registered with the Securities and Exchange Board of India (SEBI), this broker aims to offer affordable investment products to local clients, alongside powerful desktop and mobile platforms.	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.
Comment by Reviewer
"Upstox will be a top pick for experienced Indian stock traders looking for thousands of equities, flat fees and sophisticated tools. We particularly rate the advanced features of the proprietary platform, Upstox Pro."	"Traders who enjoy straightforward, fast-paced trading on forex and stocks should check out Binomo's short-term binary options. The intuitive platform and joining requirements make the brand particularly attractive for newer traders."
Pros
Transparent, flat pricing at INR 20 per order on stocks and no monthly maintenance charges Fast and free funding methods via local bank transfer, Google Pay, cheque and more 2-in-1 joint demat and trading accounts available with pre-included stock Smartlists Decent education centre with YouTube series for beginners plus free online trading courses Refer and earn scheme offering perks including zero commissions on mutual funds Charting provided by TradingView with 104 technical indicators for advanced stock analysis Back office (BO) system to access trading history Free options P&L calculator & strategy builder	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
Charges for non-resident Indians (NRI) Not as beginner-friendly as competitors Digital gold has been discontinued Limited leverage limits No demo account	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
Instruments
Stocks, Futures, Options	Fixed Time Trades
Demo Account
No	Yes
Minimum Deposit
INR 0	$10
Trading Platforms
Own	Own
Payment Methods
Google Wallet Wire Transfer	Cashu Credit Card Doku Wallet JCB Card JetonCash Mastercard Perfect Money Skrill
Minimum Trade
INR 500	$1
Regulator
SEBI
Margin Trading
Yes	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
Yes	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
Yes	No
Mobile Apps
iOS & Android	iOS and Android
App Review
	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.
Android App Rating
	4.7
iOS App Rating
	4.6
Auto Trading
	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
	Yes
VPS Hosting
No	No
Tournaments
No	No
Demo Competitions
No	No
Ethical Investing
No	No
Custodial Account
No	No
Guaranteed Stop Loss
No	No
Inactivity Fee
	$30
Islamic Account
No	No
Account Currencies
INR	USD EUR
Stock Exchanges
Bombay Stock Exchange National Stock Exchange Of India	Dow Jones Nasdaq New York Stock Exchange
Commodities
	Gold Oil Silver
Forex Trading
Forex trading not offered	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.
GBPUSD Spread
	N/A
EURUSD Spread
	N/A
EURGBP Spread
	N/A
Assets
	19
Cryptocurrency
Crypto trading not offered	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
Coins
	BTC LTC BCH ADA
Crypto Lending
No	No
Crypto Mining
No	No
Crypto Staking
No	No
Auto Market Maker
No	No
Binary Options
Binary options trading not offered	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
	90%
Expiry Times
	1 minute - 60 minutes
Ladder Options
No	No
Boundary Options
No	Yes

Review	Review