Summary
Binomo is run by Dolphin Corp LLC, a St Vincent and the Grenadines company with no financial licence of any kind, so no regulator oversees its clients’ money. Brazil’s CVM accepted a R$2.4 million settlement from it in 2024 after it kept offering its platform to Brazilians despite a 2020 stop order, and Indonesia’s Supreme Court has held that Binomo’s activity was not legal there.
- Grade
- C
- Score
- 23/100
- Fieldwork
- 8 Oct 2026 to 9 Oct 2026
- Findings
- 3 high4 medium
Scorecard
| Pillar | Weight | Score | Grade |
|---|---|---|---|
| Regulation & Licensing | 19% | C | |
| Corporate Structure & Ownership | 14% | BB | |
| Client Money & Payouts | 19% | C | |
| Execution & Pricing | n/a | ||
| Conduct & Disclosure | 14% | BB | |
| Operational Resilience | n/a | ||
| People & Community | 5% | C | |
| Overall | 71% | 23 | C |
The overall score is the weighted average of the assessed pillars, with their weights scaled back up to 100.
This grade summarises the evidence we reviewed up to 21 October 2026. It is not a guarantee of the firm's safety or future conduct, and changes after that date are not reflected. Nothing here is financial or legal advice.
Findings
Regulation & Licensing
10/100Dolphin Corp LLC is registered as a company in St Vincent and the Grenadines and holds no financial licence. Binomo does not claim one; its regulation page cites only membership of the Financial Commission, a private dispute-resolution body.
- HighDolphin Corp LLC (registration 915) is listed on the SVG Financial Services Authority’s company register as active. This is a company registration, not a financial licence, and no financial licence for any Binomo company was found.
- ObservationEarlier operators named by regulators include Tiburon Corporation Limited (CNMV, Spain, 2017) and Binomo Limited, which Anguilla’s FSC said in 2016 had never been licensed by it. Both are more than eight years old.
Corporate Structure & Ownership
40/100Binomo names the company clients contract with, but discloses no owner. Its Bulgarian service company, Pollack Trade LTD, is recorded as wholly owned by an earlier Dolphin Corp that the SVG register lists as cancelled.
- MediumNo owner, parent company or audited accounts for Dolphin Corp LLC were found.
- ObservationBulgaria’s commercial register records Pollack Trade LTD (UIC 205942015), named in Binomo’s privacy policy as joint data controller, as wholly owned by Dolphin Corp, BC 25151, a company the SVG register lists as cancelled. Pollack Trade files annual accounts in Bulgaria.
Client Money & Payouts
15/100Clients’ money is held by a company that no financial regulator supervises. Binomo makes no statement on segregation or negative balance protection, treats account balances as the company’s obligation to the client, and says client risks are insured without naming an insurer.
- HighNo regulator supervises Dolphin Corp LLC’s handling of client money. Its client agreement defines the account balance as “the amount of the Company’s financial obligation to the Client”, and no statement on segregated accounts or negative balance protection was found.
- MediumBinomo’s about page states that “all of the risks of our clients are insured in accordance with the current laws” but names no insurer or policy.
- MediumThe client agreement charges a 10% withdrawal fee while trading turnover is below twice the amount deposited, and allows the company to debit the full balance after six months without trading activity.
Execution & Pricing
Not assessed in a desk audit. Spreads, slippage and fill quality can only be measured with live accounts.
Conduct & Disclosure
40/100Brazil’s CVM accepted a R$2.4 million settlement from Dolphin Corp LLC in 2024 and closed the case that June, after the settlement was fulfilled. Its file records that the offer to Brazilians continued after the CVM’s 2020 stop order.
- HighOn 6 February 2024 the CVM accepted a R$2.4 million settlement, payable in four instalments, from Dolphin Corp LLC over charges of publicly offering, distributing and intermediating securities in Brazil without registration. The CVM’s file records that binomo.com kept offering its services to Brazilian residents after the CVM’s stop order of 29 June 2020. The CVM’s records show the case was closed on 26 June 2024 after the settlement was fulfilled.
- MediumIn the case of Indra Kenz, a Binomo affiliate convicted in Indonesia, the Supreme Court rejected his final appeal on 21 June 2023 (2029 K/Pid.Sus/2023) and stated that Binomo’s activity was not legal in Indonesia because it had no licence from Bappebti. Neither Binomo nor Dolphin Corp was a defendant.
- ObservationBinomo has been named as unauthorised by regulators in India (RBI Alert List, since 2022), Malaysia (2024), Ukraine (2024) and Cyprus (CySEC, 2019), and Indonesia’s Bappebti blocked Binomo websites and its app between 2021 and 2023. Under our methodology these warnings are recorded but not scored.
- ObservationBinomo offers fixed-time trades with expiries from five seconds, deposit bonuses of up to 300% and paid tournaments. These are recorded here; under our methodology offshore incentives are not scored where lawful.
Operational Resilience
Not assessed in a desk audit. Uptime, incident history and security controls require evidence from the firm or live monitoring.
People & Community
0/100No Great Place to Work certification and no community programme with named initiatives were found. Binomo’s homepage lists charitable activities without dates, partners or detail.
- ObservationNo Great Place to Work certification or documented community programme was found in public sources.
Licences verified
Each licence was checked directly against the regulator's public register on the date shown.
| Entity | Regulator | Licence | Checked | Result |
|---|---|---|---|---|
| Dolphin Corp LLC | SVG Financial Services Authority | Company registration 915 | 9 Oct 2026 | Confirmed with notesRegistered as a company, active since 16 March 2021; holds no financial licence and claims none. |
Notes and sources
Sources
- CVM: open data on sanctions proceedings (processo sancionador)
- SVG FSA: entity name search
- Bulgarian Registry Agency: Pollack Trade LTD
- CVM: CVM aceita Termo de Compromisso de R$ 2,4 milhões com Dolphin Corp LLC
- CVM: settlement committee opinion, Dolphin Corp LLC
- CVM: alert on Dolphin Corp, responsible for Binomo (1 July 2020)
- Mahkamah Agung: ruling 2029 K/Pid.Sus/2023 (directory copy)
- CySEC: warning on binomo.com (25 September 2019)
- Reserve Bank of India: Alert List
- Binomo: client agreement
- Binomo: about
- Binomo: regulation
- Financial Commission: compensation fund
Evidence and scope
Scope
Desk audit of the brand’s client-facing entity, using public sources only: regulator registers and announcements, court and sanction records, company registries and the firm’s own published documents, as available on 9 October 2026. No accounts were opened, nothing was tested live, and the firm was not asked for evidence.
Limitations
Absence of a public enforcement record is not evidence of good conduct. The Indonesian court rulings were read from copies of the Supreme Court directory, as the court’s own site blocked access. Statements by Indonesia’s OJK could not be checked, as its site was unreachable.
Evidence reviewed
- SVG FSA entity register
- Bulgarian commercial register, Pollack Trade LTD
- CVM settlement opinion and decision, PAS 19957.007607/2022-63, February 2024
- CVM stop order announcement, 1 July 2020
- CVM open data on sanctions proceedings, October 2026
- Indonesian Supreme Court ruling 2029 K/Pid.Sus/2023 (court directory copy)
- Binomo client agreement, privacy policy, regulation and about pages
Version history
- Report published.
- Updated with the CVM’s record that it closed its Brazilian case against Dolphin Corp LLC on 26 June 2024 after the settlement was fulfilled. No change to this audit’s score or grade.
Request a re-audit
Staff of Binomo can ask us to reopen this audit, for example after correcting a finding or completing remediation. Requests must come from a company email address, and you can attach evidence.
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