Binary options trading has gained tremendous popularity over the last few years and it has become a source of stable and sustainable income for many traders. As a result of this ever-increasing popularity, many online brokers have surfaced that promise to offer maximum rewards on minimum investments with an affordable fee structure.
Binomo is one such platform that offers binary options trading. The company is registered with EU and the website has been an active broker in Russia since 2014.
Here is an easy-to-understand step-by-step guide to Binomo trading for the beginners who wish to explore the opportunities the platform has to offer.
Sign up and Registration
The first step is, of course, the signup process. For this, you need to visit the official website and click on the “sign up” button.
You will be then taken to the basic registration form that will require you to fill out a few mandatory fields. Once you complete the form you should click on the “open account for free” button.
The next step will take you to another verification page where you will have to provide the website with a few more personal details. Completion of this form will take you to the button “open a real account”. You need to click this in order to start properly.
After choosing to open a real account you will be given access to special instructions related to binary options trading. This stage needs to be followed carefully as it will help you understand the technical parts of binary options trading.
Before you start real-time trading it is ideal to go for Binomo’s demo trading. This will help you use a demo/virtual account to train for real trading. It is an important step because your mistakes will not cost you a real fortune, allowing you to learn before you earn.
This will require you to make a real deposit to start trading on the binary market. The following steps will help you get started;
- Choose the “cashier” tab at the top of the page; this is where all the broker-investor transactions will take place.
- You then need to select the deposit amount and click on the selected button.
- After selecting the amount you will have to pick a payment method.
- After submitting the required information your amount will be deposited.
Get Set Trade
After clicking on the “trading” tab at the top of the page you will be given an option to choose an asset. This will be your options trading valuation.
Next, you should use the analysis tool to analyze the market and create your forecast.
After setting an expiration date you will have to click on the trading button.
Once your option hits its expiration date your profit will be transferred to your account and available for withdrawal.
You will have to click on the “cashier” tab and then select “withdraw funds” from the menu on the left side of your screen.
The withdrawal process may take a little time to complete; however, during this period, you will still be able to continue to trade using the platform.