Today’s guide is a simple and a fast description of the key steps you should take to start trading on the Binomo platform.
How to get started
You need to be logged into your Binomo account. Start by choosing an asset. To see the full list of the financial instruments offered on Binomo, you have to click the plus sign on the top of the platform. Then you can either type the name of your preferred asset in the search window or scroll down to find your favored instrument.
Next to the name of the asset you will see the information about the payout rate. It may be different for long and short-lasting transactions, thus you will find two percentage values next to each instrument.
Using the trading interface on Binomo
You have chosen a financial instrument for this trading session. Set up the Japanese candlesticks chart as this is the most transparent chart type. Now you have to indicate the amount of money you wish to invest in a single trade (1). Then, you need to choose the expiry period for your transaction (2). Perform a thorough analysis of the market and hit the green button with the arrow pointed upwards if you expect the price to rise. Click the red button with the arrow pointed downwards if you forecast a fall in the price.
Once the position is open, the following details will be displayed on the chart: the investment amount, the profit you can potentially make and the time remaining until the end of the trade. Moreover, the vertical line will mark the time your transaction expires.
When the trade expires, there are two possibilities. You gain a profit or lose the investment amount. Either case, the money will be automatically added or taken out of your Binomo balance account.
You can always view the details of transactions you have performed in the History tab. To access it you have to click on the clock icon on the left side of the trading interface.
Opening a transaction on Binomo is not a difficult process. Nevertheless, make sure your transactions are based on a careful market analysis. Read about different indicators and strategies. Do not forget about emotion management.
I recommend practicing on a demo account. It is free of charge so you will not risk losing your own money. Once you are feeling confident about trading on the Binomo platform, shift to the live account and start trading with real money to try and make profits.
Tell us about your experience with trading on Binomo in the comments section which you will find further down the site.