It’s no secret that half of the success in binary options trading depends on the functionality of the trading platform used by the trader. This is an axiom of which countless traders have already been convinced. Against this backdrop, I want to introduce you in my review to the trading terminal from the Binomo company, where I’ve been trading for a relatively long time and where I achieve my desired trading statistics.
Why did I choose this broker’s platform for trading? I found out about the Binomo terminal completely by chance – after I clicked on a pretty banner on a website on options trading. Having become acquainted with the company’s platform on a training account which, incidentally, is free, I realized that this is trading software of a new professional level, where I can find all the tools to make a profit.
What is so special about it? I’ll start with the basic functions that impact the efficiency of trading:
1. The wide-format quote chart
You are also most likely accustomed to trading terminals with small windows, which are at best half the screen of your monitor, where you can see only a small segment of the market. However, with the Binomo broker the quote chart opens to the entire window, and it can be scaled and you can change the backlighting and view the history of the market. This allows you to easily see the main direction of the trend and determine various patterns of technical analysis.
2. The set of technical indicators
The next advantage of this platform is the built-in technical tools on the basis of which you can use a multitude of indicator strategies. Previously, I had to use third-party services for “live” charts to trade on indicator strategies, which automatically reduced the profitability rates due to the differences in quotes. On the Binomo terminal, you can not only set the indicators on the chart right away, but you can also change their settings if necessary. The platform set includes the Bollinger Bands, RSI, Alligator, Moving Average and MACD indicators, which you can use in combination with the extensive arsenal of trading systems for any market situation.
3. The set of chart tools
If you are an amateur trading on chart patterns of quote movement, this platform will greatly simplify market analysis for you. For this there is a chart toolkit with various figures (rectangle, line, channel, ellipsis) and semi-automatic tools (Fork, Fibonacci, Hartley). I personally get excellent results using the Fibonacci grid and trading in consolidation zones.
4. The choice of type of quote display
On the Binomo platform, you can observe quotes in the form of Japanese candlesticks, mountains, bars and lines, which allows you to most optimally adjust the price chart for convenient application of various approaches to market analysis.
5. The choice of chart interval
You can use different timeframes on the quote chart, from seconds (1s, 5s, 15s and 30s) to minutes (M1 and M5), which allows you to trade with different dynamics and choose the interval required for the parameters of your strategy. For example, if you prefer a quieter trading mode, you can trade at an interval of M1, or if you like more dynamic trading, you will be satisfied with second timeframes.
6. The non-stop trading function
The Bimono terminal allows you to simultaneously conclude an unlimited number of transactions, and without waiting for the completion of the current option. This function is especially useful for scalping and trading on tick intervals.
7. The set of trading assets
There is an extensive arsenal of trading instruments available, with items from the currency, stock, and commodity markets. Thus, currency pairs, shares of well-known corporations, and oil and gold can be traded both on classic systems of technical analysis and on strategies for news trading.
8. Expiry terms
The duration of options can be set on the platform from 60 seconds to 24 hours, which allows you to trade both short-term options and use medium-term trading strategies.
9. The high yield of options
Profitability of contracts on the platform fluctuates within 50-90%, which depends on the type of trading instrument, the type of option, and the current market situation. On average, the yield of an option is 80%, which means that when using an effective trading strategy, you will be able to dynamically increase your trading capital.
10. The stability of the terminal
It should be noted that this platform is a proprietary development of the broker, therefore it not only has progressive technical tools, but also technology that ensures uninterrupted operation and execution of transactions without slips or hangs. Thus, when making a trade, you can be sure that it will open right at the chosen price level.
In conclusion, I would also like to note that today the Binomo platform is considered one of the best on the market and is popular with options traders.