Binomo is a trading platform that gives everyone access to invest and trade currency pairs, commodities, indices and other assets online. This opportunity is available even to beginner traders thanks to the free training on the platform. In the review, we’ll take a look at how to use the Binomo tutorials to trade effectively.
How does Binomo work?
After logging in to a Binomoaccount, everyone has access to free trading training. It helps you understand how to invest and trade on binomo.com.
Note! You must understand that asking “How to make money on Binomo?” is incorrect. The platform is designed to get additional income using your analytical and trading skills and not someone else’s signals.
Education and tutorials
The company offers helpful information about the platform and a demo account for practice, allowing you to understand how does Binomo work on actual charts.
Such education allows traders to:
- gain new knowledge and improve the level of trading skills;
- learn how to read charts;
- understand how to trade on Binomo using fixed time trades (FTT);
- explore and test trading strategies.
Trading training on the Binomo platform is free.
A demo account
It would be helpful if newbies had the knowledge to understand how does Binomo work. A demo account is just intended for that and is available to all users immediately after registration. It contains virtual $10000, which are replenished automatically as soon as they run out. A demo account is a safe environment where you will learn to trade on actual charts step-by-step without losing your deposit.
Tips and FAQ
Binomo has a helpful Help Center. It is a FAQ where you can find answers to popular user questions about how to trade on Binomo. The Help Center is especially useful for beginners to get familiar with the platform.
Thanks to the Help Сenter, you can learn about:
- types of accounts;
- how how to deposit and withdraw funds;
- payment system options available in your country;
- tournaments, etc.
This section also provides other helpful information about trading.
You can learn about various trading strategies on Binomo conveniently placed in a dedicated section. But beginners most often do not know anything about them. Binomo took care of that because each trading strategy has a detailed description.
Tournaments are another way to get more trading experience. You are trading in a time-limited event with other participants.
There are two types of tournaments on Binomo:
- Free tournament “Daily Free” is available to all platform users, including demo account holders.
- Users with the Standard account and above can take part in paid tournaments. They have different prize funds, participation fees, rebuy costs, etc.
Trading in tournaments takes place on a special account. The main goal of the tournament is to get the maximum balance at its end. In some of them, the goal may be different. Participants who have fulfilled the conditions of the tournament better than others share the prize fund. It is credited to the “Gifts” section and can be transferred to a real account.
You can find out more about each contest in the Tournaments section of the Binomo website/app.
Note! Tournaments are not about winning but about getting trading experience and improving your skills.
Now you know that asked on how to play Binomo is incorrect because it is not a game. You can use the platform for training, practice and trading. A demo account and trading tips will help you understand how Binomo really works and get experience without the risk of losing your deposit. But keep in mind that trading is always fraught with financial risk. To minimize it, you need to improve your skills constantly. Invest and trade when you are confident in your abilities.