Are you interested in trading using only your smartphone? Gone are the days that you can only trade on a desktop, using your PC or laptop in order to gain an edge in the market. With the Binomo app for smartphones, trading is now fast, easy, and totally convenient. As long as you have an internet connection, you can keep track of your orders and complete trades wherever you may be.
In today’s guide, I’ll tell you how you can download and install the Binomo app on your phone so that you can start trading as soon as possible!
Checking the Binomo app’s compatibility
To begin, go to the Binomo website and visit the download page. Here, you’ll get to see all the different platforms that can support the Binomo trading platform.
For smartphones specifically, Binomo is available on both Android and iOS. Best of all, it’s completely free to download, so if you’re already trading on the desktop version, there’s absolutely no reason not to download the app on mobile as well.
Downloading and installing the Binomo app on your phone
To search for the Binomo App, just go to your phone’s Google PlayStore, if you have an Android phone, or App Store, if you have an iPhone. Next, type “Binomo” into the search tab. If you’re from a country that the platform supports, you’ll see the official app almost immediately. Simply click it and tap the “Download” or “Install” option on your screen.
Once the app finishing downloading, it will automatically get installed on your phone. The Binomo app icon will then appear on your phone’s home screen. You can click this icon or simply click the “Open” option from the PlayStore to open the app.
How to log into the Binomo app for the first time
Logging into the Binomo app on mobile is very easy. When you open the app, you’ll be brought to a sign-up or login page. If this is your first time using the Binomo platform ever, you’ll have to sign-up first. If not, just type in the same details that you use to log into the browser version. You should be able to log-in then.
The good thing about this–or bad, depending on how you look at it–is that once you log-in for the first time, you won’t have to log-in anymore for quite some time because the app saves for your log-in session.
Take note, if you’re using traveling overseas and the app detects that you’re using the IP address of a country that the platform doesn’t support, it won’t allow you to log-in – even if your country of origin is a supported country. So if you want to use the Binomo app in an unsupported country, you’ll have no choice but to use a VPN to bypass this rule.
On the contrary, if you’re using a VPN in a supported country that simulates the IP address of an unsupported country, you have to first turn off your VPN–or at least switch to a supported country’s IP address–in order to log into the app.
Introducing the Binomo smartphone app trading interface
If you’ve ever used the Binomo browser version, then you’ll be glad to know that the smartphone app looks, feels, and performs quite similarly. The app for mobile has the same basic financial products, the same features, and even the same places for the buttons. In other words, you shouldn’t have a problem trading on the mobile app if you’re used to trading on desktop.
- At the top-left corner, you’ll see a hamburger icon. If you click on this icon, it will bring up a menu containing sections for Trades, Balance, Bonuses, Support, and Settings. Trade refers to your trade history, Balance refers to your account balance history, Bonuses will show all your received gifts, if any, Support will bring up financial products to contact the Support team, while Settings will allow you to change your app settings.
- Next to the hamburger icon, you will see the name of the asset that you’re currently trading. When clicked, this button will open a list of instruments that you can choose to trade. Do take note that the Binomo app seems to offer a few different instruments from the desktop version. The most popular ones are still there, of course, but there are some changes when it comes to less popular assets.
- Off to the right-hand side, you’ll see the option to decide between Real Account and Demo Account. In this example, I’m using my Demo Account, with a $1,086.46 virtual balance. Clicking this option will allow you to pull up your Real Account, which makes use of real money.
- To the right of this option is a button with the words “+Make Deposit”. As its name suggests, this is the button you should click on if you want to make a deposit to your account. There are several Payment choices here like Mastercard/Visa, JCB, Perfect Money, and Webmoney, among others. The exact list should depend on your country.
- The triangle icon at the top-right corner shows your Account status. Each status comes with its own individual perks. You’ll need to deposit at least $10 if you want to reach the Standard status, $500 for the Gold status, and $1000 for the VIP status.
- Below the triangle icon is a section containing the buttons for Time, Investment, and Strike Price. Time refers to the time you want to finish your trade. You can set the time to 1-60 minutes. Investment refers to the amount you’d like to invest in a trade. Strike Price refers to how much you can earn–or lose–in a trade if you were to invest at this very moment.
- Located on the bottom-right corner are the buttons for Higher and Lower. If you feel like the price is still going to increase, click Higher. If you think it’s going to increase, then click Lower.
- The three buttons at the bottom-left corner are the buttons for Chart, Time Period, and Indicators. For Charts, you can choose between Mountain, Lines, Candles, and Bars. The Time Period could be as short as 5 seconds to as long as 1 hour. Lastly, indicators are technical analysis tools such as RSI and Bollinger Bands that can help you in your trade game.
Trading on the Binomo smartphone app
Although the app makes trading easy and convenient, it may still take some time to get used to. This is especially for total beginners who haven’t had prior experience before in trading.
To start trading, the first thing you have to do is to set your trading stage. Pick any asset you want, and then your chart type, time period, and indicator, if any. In my case, I’m choosing Bitcoin, candlestick chart, 15 minutes, and RSI.
Lastly, click on the higher or lower button depending on what direction you think the market will take next.
Do keep in mind that in order to use the app, you need to be connected to the internet at all times. It doesn’t matter if it’s data or WiFi – you won’t be able to access your account without an internet connection.
Tips for trading on the Binomo smartphone app
Trading on the Binomo smartphone app should be easy, especially if you already have some experience in trading. However, if you’ve never traded before, even on the desktop version, there are some trading tips that I’d like to share.
- Trade amount. For beginner traders, I definitely recommend investing smaller amounts, like $10 or even lower. You’re still learning how to trade, so it wouldn’t be wise to go all out.
- Chart type. I would recommend Candlestick charts since they’re easier to understand. You’ll also have a lot of strategies at your disposal that make use of candle colors.
- Time period. The ideal time period for beginners is 5-15 minutes. Any shorter or longer than that is too risky.
- Indicators. Whatever indicator you decide to use, it’s best to stick to just one or two maximum. This will help you focus more on trading rather than watching indicators.
- Demo account. This goes without saying, but you should never try making a deposit and trading on a Real Account without first mastering the Demo Account. Always practice on the Demo Account first to make sure that you’ve got all the basics down.
Have you ever tried using the Binomo app for mobile? Are you already using the Binomo account for the browser? What do you think about it? Let us know your thoughts in the comments below!
Good luck on your trading journey with Binomo!