A Binomo platform overview from a trader
The profitability of binary options trading is mainly influenced by two factors – the trader’s skills and the functionality of the chosen trading platform. Accordingly, in addition to knowing how to trade, you should also choose high-tech trading software that will simplify the process of market analysis and making a profit as much as possible. In my review, I would like to introduce you to precisely that – the terminal from the Binomo broker.
I found this company’s platform completely by chance when I was looking for a site where I could use a training account for free on a real terminal to test strategies. Already within the first minutes of testing the terminal, I was impressed by the fast speed of the terminal and its expanded functionality, and a week later I began to trade with this company on a real account.
So, what makes the terminal of this broker special? I will try to give an absolutely impartial and objective evaluation of all the functionality.
1. Multifunctional quote chart
The first thing I liked was the wide-format quote chart which is scaleable and where you can view the history of quote fluctuations and switch timeframes and price display types. The trading intervals available on the chart are in seconds, 1s, 5s, 15s, and 30s, and in minutes, M1 and M5, which allows you to adjust the dynamics of trading. Also, you can set different formats for displaying quotes on this chart (mountains, Japanese candles, lines, bars), which also expands your opportunities for market analysis.
This statistical means of analysis is not really a novelty and it can be found even on the most primitive of trading platforms. For those who don’t know what it is, it’s an indicator that shows the direction in which the selected asset is being traded by the majority of players on the site. I personally rarely pay attention to it, however for newcomers to this broker’s site, such statistics could be an effective auxiliary tool.
2. The set of technical and chart market analysis tools
The next thing that impressed me was the set of technical analysis tools, where 5 technical indicators are available, as well as a chart toolkit. This functionality allows you to use indicator strategies by recreating their templates right on the price chart. Also, with the help of the chart tools, you can trade on various patterns of market movements by highlighting consolidation zones and chart patterns on the chart. Special attention should be paid to the option of using semi-automated tools for trading on mathematical levels, Fork, Fibonacci, and Hartley, which can give you accurate trading signals:
3. The arsenal of trading assets
There are trading instruments for every taste in the set of trading assets. There are major currency pairs, precious metals, crypto-currency, and commodities, as well as shares of well-known corporations. A little more than 50 items of underlying assets are available, which can be considered the optimal amount for the formation of an investment portfolio.
4. Terms of expiration
The Binomo terminal is equipped with a standard set of contract duration periods suitable for both short-term and medium-term trading – from 60 seconds to 24 hours. I love short-term options, so I most often trade with an interval of no more than 10 minutes, but if you prefer a longer expiration, especially for trading on the news, those time periods are also available.
5. The “Majority opinion” indicator
broker, and so far I’m completely satisfied with everything, so I recommend the Binomo platform to other traders.
6. Non-stop trading technology
Another interesting function of the terminal is the ability to simultaneously open an unlimited number of options. That is, you can enter the market with a whole series of contracts, without having to wait until the current option is completed.
7. Transaction yields
The Binomo company is not greedy, and as a result, it is possible to receive an options payout of up to 90% of the transaction amount. The average profitability of a transaction is 75-85%, so with the correct approach to trading, you can easily make a decent profit in the shortest possible time.
8. The speed of the terminal
I tested this platform not only for functionality, but also for speed. According to my observations, the terminal operates without freezes or price slippage. This means that you will never lose important points, especially when trading with short-term options.
Conclusions about the Binomo terminal
The Binomo company clearly wasn’t stingy when it came to developing their professional trading software. They implemented the most advanced technologies and functions for trading, so that trading on this platform is more profitable than on other terminals. Moreover, the company itself provides its clients with favorable trading conditions and has a good reputation in the market. I personally trade with this.