Trading options on Binomo may seem overwhelming at first, but don’t worry, it’s actually quite easy. This guide will teach you how to start trading options in just 3 easy steps!
1. Select an asset
First, click the Instruments menu at the top panel of the screen. The percentages at the side of each asset refer to the current profit, in percentage, that you could get by trading that specific asset. For instance, if you chose an asset with a 73% percentage profit, that means that you can earn $73 by trading $100.
2. Choose expiration time
Once you’ve chosen your asset, it’s now time to choose your trade amount as well as the expiration time. Also called trade expiry time, the expiration time refers to the time it takes for your trade to expire. In other words, how long each trade will last.
Upon choosing the expiration time, a marker will be shown on your screen. This will show how much time is still remaining on your specific trade. If you have multiple trades, you’ll also see multiple markers. When the time runs out, whatever earning or loss you have will be reflected on your account immediately.
Let’s say you decided to trade $1 and set the time to 2 minutes from now. The market tide goes in your favor, and you earn 84%. When the 2 minutes is up, you’ll find your $1 back in your account, plus an additional $0.83.
3. Select your position
Lastly, choose what position you want to take. Like other options brokers out there, there are two options available on Binomo, higher or lower.
Choose higher if you think the price will still go higher, and choose lower if you think the price will go lower.
If you manage to make the correct speculation, you’ll earn the indicated percentage profit, which will immediately be credited to your account.
As a bonus, Binomo also shows what the majority is choosing. Be careful not to rely on this too much, though.
Trading options on Binomo
If you want to learn more, we also have more comprehensive guides here on Binomo Demo that can help you if you encounter any difficulties. We also have a #1 Best Beginners Guide to the Binomo Trading Interface so that you can familiarize yourself with everything that you see on the Binomo trading screen.
Do you have any questions? Feel free to ask them in the comment section below! And of course, we recommend starting out with a free Binomo demo account first before you dive into the real thing.
Good luck on your trading journey with Binomo!
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