Independent monitoring reviewed by BestForex.io found no verified forex regulation behind Binomo, a trading platform operated under Dolphin Corp LLC. Traders in Mexico and Colombia allege that accounts worked normally for deposits and trading but were blocked when they attempted withdrawals.
A Reported $15,000 Loss
A Mexican trader alleged in October 2025 that roughly $15,000 became inaccessible after a routine withdrawal denial was followed by a permanent account block. The reviewer said subsequent support replies were automated. A Colombian trader alleged in November 2025 that a $1,000 deposit was followed by an account block when a withdrawal was requested.
Another Mexican reviewer alleged in July 2025 that Binomo said the relevant account did not exist, despite the reviewer saying funds had been transferred into that account. These are customer allegations, not findings by a regulator or court. The reviewed material did not include Binomo's response to each case.
No Verified Regulator Means Limited Recourse
Without a verified financial license, customers cannot rely on a named licensing authority to investigate execution or compel a withdrawal. They may also lack access to a statutory compensation scheme. Traders should verify the legal entity, license number and complaints process before depositing.
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Withdrawal timing is the key risk signal
Three complaints from two countries describe access problems appearing when money was requested back. That pattern deserves scrutiny, especially where no financial regulator can be verified.
About Binomo
Binomo is a retail trading platform operated under Dolphin Corp LLC and marketed across Latin America and South Asia.
- Operator
- Dolphin Corp LLC
- Verified forex license
- None identified
- Complaint markets
- Mexico and Colombia
- Largest reported loss
- About $15,000
Frequently Asked Questions
Is Binomo regulated?
The reviewed monitoring records identified no valid forex regulation behind Binomo.
What is the largest reported Binomo loss?
One Mexican trader alleged that roughly $15,000 became inaccessible after a withdrawal denial and account block.
Do the complaints follow a pattern?
Several reviewers allege that account restrictions began when they tried to withdraw. Those claims remain allegations.
Review regulated alternatives in our Best Forex Brokers in 2026 directory.