In the review, we will go through all details about using the Binomo platform. It includes information on how it works acquiring trading education through strategies and a demo account, etc.
How to use Binomo?
Before investing and trading on the platform, you should first learn how Binomo works. Traders can use the features provided by the platform like trading education in the form of video tutorials, strategy section, economic calendar, and glossary to learn basic things, e.g. how to invest in Binomo.
Furthermore, Binomo uses Fixed Time Trades (FTT) mechanics, making trading on the platform really convenient:
- Choose an account type. Choose a demo account if you want to practice trading with virtual funds. Choose a real account if you’re ready to trade with real funds.
- Select an asset to trade.
- Decide on a trade amount. We advise that you begin with smaller trades to test the market and become familiarized with it.
- Choose an expiration time for the trading (available option from 1 to 60 minutes).
- Make a forecast: сlick the green button if you think the price of an asset will go up, or the red button if you think it will go down.
- Wait for the trade to close to see if your forecast was correct. If it turns out to be correct, the amount of your investment plus the earnings of the assets would be added to your balance. If you tie, just the initial investment will be returned to your balance. If your forecast is inaccurate, your investment would be forfeited.
Traders seeking the answer for how to make money on Binomo should know that this is not the point. Instead, you must be aware that trading is not an easy thing. To get additional income, you must contact the maximum effort, knowledge and analytics to make the correct forecast.
Start acquaintance with training and education
After logging into Binomo, you will also find numerous trading tips and tutorials to help you grasp how does the platform work. Furthermore, you can also get training through a demo account before investing funds in a real account. The platform provides valuable tools such as indicators and strategies to assist users in making the most accurate forecast. Let’s take a closer look at these features.
Try a demo account
After registration, users have immediate access to a free demo account with virtual currency. Here you may learn how to trade on Binomo for free and practice in a secure environment to improve your trading skills. When you get your demo account, you will have $10000 of virtual funds, but you can restock it at any time by just clicking a button.
Furthermore, on a demo account, you can watch free video tutorials on how to use the platform effectively. They will tell you step-by-step about investments, trading mechanics and so on.
Learn strategies
On Binomo, you’ll find a variety of strategies. However, traders must remember that no trading strategy can guarantee a 100% result of the trade because we are not talking about winning, but we are talking about market analysis, the ability to read charts to make a correct forecast. Try to understand what strategy to use and at what point in the trade, and you’ll develop your own price forecasting strategy over time.
Moreover, traders often question how to play Binomo. However, they must understand that this is not a game and that they must use strategies and analysis on the platform to result in the trade.
Note! The platform does not prohibit the use of other people’s signals, but you must understand that the responsibility for the result of the trade will lie solely with you.
Participate in Tournaments
The two types of tournaments available on Binomo are free and paid tournaments. The free tournament “Daily Free” is also open to all users, including demo account holders. You can earn additional funds in Binomo by participating in tournaments, and such tournaments let you practice and assess your trading skills.
Check out the Help Center
Binomo gives traders access to a Help Center, which is similar to Wikipedia for traders, to get answers to your FAQ. The help Center aims to assist beginners in getting started on the platform by providing them with any specific knowledge about the platform so that they are able to operate it more efficiently.
Note! You can contact support using the chatbot or through email: support@binomo.com if you have any questions about the platform works.
How does Binomo work?
Binomo has many features and tools that make it a practical and user-friendly platform for many investors who want to trade online. Unlike other trading platforms, Binomo has something to offer to every level of trader ranging from beginners to expert level.
Traders have access to numerous strategies which they can use to make better forecasts. Additionally, the platform offers step-by-step tutorials teaching traders how to use the Binomo platform efficiently. Traders can also train on a demo account and get the hang of how the platform works without worrying about losing their funds. When they feel confident that they understand how to trade, they can switch on a real account.
However, remember that with trading comes the risk of losing your deposit. So make sure to practice on a demo account and learn how to use strategies to get training before investing money in Binomo.
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