Daily education is crucial if you want to become a professional in trading. Read this article for tips on using the platform effectively and answers to FAQs, and know about strategies, tournaments, and how to change the currency in your Binomo account.
How to use Binomo?
You can access the platform through the website or the app for Android and iOS devices. You will first need to register using email, Facebook, or Google account.
Once you log in, Binomo offers you a demo account to get familiar with the platform and practice for free. With virtual $10000, you can polish your trading skills until you feel ready to get additional income on a real account.
Follow tips and tutorials
You need training and education to increase your trading skills. Read below which tutorials and tools there are on Binomo for this.
To find out how Binomo works, first of all, visit the Help Center. This section of the platform contains many ready-made solutions for a variety of issues: starting with registration and ending with the withdrawal of additional income.
If you did not find an article on a topic of interest to you, or the answer seemed insufficient to you, it is always possible to contact support. Managers answer around the clock via chat and email firstname.lastname@example.org. A chatbot is also provided for quick replies.
Binomo offers 3 types of strategies: for beginners, experienced and professional traders.
There are strategies for beginners such as:
- Trade at night
The best trading time for starters on Binomo is at night. The quotes move quite slowly; the market has a small amplitude and runs in a sideways trend. Hence, it is an opportunity to get additional income with less risk.
- Trading based on the economic news
Binomo publishes daily events in the Economic Calendar that can affect asset prices. This strategy is suitable for any asset and allows you to make deals after releasing macroeconomic indicators when you know how the published data compares with the forecasts and past values.
- The seven golden rules
This strategy aims to minimize trading losses. It contains principles that can train your discipline. For example, you need to study every day and analyze the market both before and after trading. One of the main tips from Binomo: each trade should not exceed 5% of your account size.
Note! There is no 100% winning strategy. Develop your owntrading tactics embracing tips, training, and tutorials Binomo provides.
To see the rest of the strategies, select the same name option in the Binomo menu.
Technical indicators are tools that help analyze how asset prices move and make more accurate forecasts. The most famous indicators include:
- A moving average that shows the assets’ average price at a specific time.
- The Bollinger bands calculate the assets’ average price at a certain period and how much the asset deviates from the average for the same period.
- The alligator shows three moving averages at a go, showing the movement of quotes more accurately than one does.
Note! You can read more about how to set up indicators here.
Some of the most common questions are considered below:
- How to invest money in Binomo and withdraw it?
Binomo allows traders to fund their accounts through trusted payment providers such as VISA, MasterCard, and Skrill. Please note that the withdrawal is possible only in the same way as you made the deposit. This will protect your funds from getting falling into the hands of unauthorized persons.
If you are only thinking about how to make money on Binomo, remember that no one can guarantee additional income. Before investing real funds, you need to master the platform and develop your own trading techniques.
- How does trading on Binomo really work?
You need to make a forecast if the value of an asset goes up or down after the time you set. If your forecast is correct, you will get additional income. To develop your trading skills, the platform provides a free demo account with virtual funds, which is available for an unlimited amount of time.
- How to change the currency in the Binomo account?
It is not possible to change it after registration is complete. If you change your mind or choose the wrong currency, you have to close the old account and register a new one with a different email, and set the correct currency. The Client Agreement prohibits having multiple accounts at the same time.
Train on a demo account
If you wish to understand best how to use the platform and trade on Binomo, the demo account is the optimal ground. This free account helps you improve your trading skills and gives you the courage to trade using real funds on a real account. You can train yourself as many times as possible since you can refresh the virtual funds to $10000 if they decrease.
Note! If you wish to know how to play on Binomo, you should know that this is not a game, but a platform for trading and education.
Comply with terms and conditions
For a smooth trading experience, always comply with the terms and conditions of the Client Agreement. They include:
- Account replenishment and withdrawal of funds are possible only to accounts owned by traders. Binomo does not allow the use of third-party accounts.
- If Binomosecurity service suspects that a client participates in fraudulent activity, your account can be blocked.
Always comply with these terms to avoid blocking your account.
Participate in tournaments
Binomo has different tournaments in which both beginners and experienced traders can contest. The duration of the competitions varies and can range from a few minutes to a month. You have the opportunity to hone your skills even if you are using a demo account. There is a “Daily Free” tournament for this.
Other tournaments on Binomo require payment for participation. The amount you pay to contest depends on the duration and the size of the prize pool. To get additional income from this fund, you need to be on the leaderboard at the end of the competition.
So how to trade on Binomo
The best way to trade on this platform is constantly learning how to work out the tips and strategies that Binomoprovides. Improve your skills daily by using the demo account and participating in tournaments to get extra income.
Binomo does not provide signals to its clients, that is, the result of each trade depends only on you. Trading involves the risk of complete or partial loss of