Binomo demo account: How to use it – Trading tutorial

When you talk about trading stocks and other assets, the first thing that comes to mind is picking the right platform. Irrespective of whether you are a rookie or a professional, you need a platform that can co-operate with your level of knowledge. 

You cannot expect to be a beginner on the platform as it is made especially for the experts. It would ruin your entire trading career, and you won’t be able to develop any skill or knowledge.

Instead, you should go for the platform designed for beginners and experts. Binomo is one of the most renowned brokerage platforms to trade enormous financial instruments with maximum profitability returns. 

The best thing about this platform is that it caters to over 33 countries and is accountable as a preferable platform in India, Vietnam, Indonesia, and other countries.

Binomo started assisting traders in 2014, and the company is owned by Dolphin Corporation, located in Grenadines and St. Vincent. 

The platform has over 887 470 active users daily and records around 30,000,000 successful trades every week. With such figures, Binomo is a market ruler in the race of brokerage platforms. But, how is it fit for beginners? Does it care to offer guidance by any means?

Binomo demo account is the answer to this question of all beginner traders! People keen to start trading and get overwhelmed by all the technicalities involved can rely upon this demo account to master their skills. 

Demo accounts are replicas of real-time trading accounts. They have the same charts, graphs, asset information, trading patterns, etc. The only thing different is that you will be using virtual funds over real ones over this account.

You will know more about the Binomo demo account further in this article! But before proceeding, you should prepare your mindset to learn and grow with it. Even though you are an experienced trader, a demo account will possibly help you explore the features of this new platform. 

You should always use the demo account unless you are a master in your trading patterns and can bag profits with a blindfold.

Facts about Binomo Binary Options trading platform

Before inching ahead with the broad description of the demo account of Binomo, you must have some factual knowledge of this platform in brief. When you enter the live trading account, the minimum deposit you are asked to make is $10. 

It is astoundingly low than what most other brokers demand from even beginner traders. People have put their trust in Binomo because they have a good modulation and are authorized. The amount of trading assets is pretty much limited, and you can improve trading over time by trying out your skills over a demo account. 

It comes with 20 different graphical tools for helping you analyze the market movements of the asset, its charts, and history. There are hotkeys, which allow you to access the platform and commence with quick trading quickly.

Besides that, Binomo also offers an economic calendar integration to assist the overall trading experience better. The refresh rate over the platform is pretty quick, allowing the traders to grab the earning opportunities right when they arise. 

Binomo intends to prove that their platform has the essential elements that an online trader needs. Binomo has been operating under the regulation of IFC (International Financial Commission) and has been a Category A member since the year 2018. Hence, this is what speaks for their reputation in the market!

What is the Binomo demo account?

The Binomo demo account is perfect for people who want to exploit and adapt the functions of a live account. It is accountable as a convenient learning platform for all traders, completely free of cost. The traders can explore the root of global markets without any worries or monetary losses.

It comes with an interactive guide for beginners to get used to the necessary features of the platform. The step-by-step guide will give you insight into everything that will be similarly repeated in the live trading account. 

The only difference is in the funds you use! You are provided with $1000 of virtual money over the Binomo demo account to place your trades. You can trade on any asset and apply any strategy without fear of losing your money. 

It is just the platform that allows you to try out your strategies, brush up your skills and improve your expertise in the field. What happens if you run out of your virtual funds? Do not worry, as there is a refresh or reset button right next to the balance display over the demo account. 

One-click over it, and you will have more than $1000 of virtual funds. Talking about charges Binomo demands from you for using their demo account. You do not have to make any deposit for entering the demo account. 

When you log in to Binomo, you will have the option to either get into the live trading account or explore the platform with a demo account. Go for the demo account option, and you won’t be charged anything further.

You have unlimited access to the virtual money offered to you over the Binomo demo account. It will help you try out your strategies with big and low investments. Hence, this gives you a thrilling scope of learning trades completely without barriers. 

It can help you understand the success journey for individuals starting to trade in a live account. In addition to that, the final thing is that you won’t even be charged anything extra for the sake of demo account maintenance. You are just good to open it and get started with your trading practices.

How to open the Binomo demo account?

Opening a Binomo demo account is quite easy in comparison to the process of other broker platforms. When you follow all of the steps as specified below, you will have your demo account ready in no time. 

Hence, if you are willing to get started with your virtual trading over Binomo, then here are the steps for you to open up your account today:

1. Visit the official Binomo company website, where you will have a clear description of their binary options trading potential and features.

2. On the landing page, you will see a yellow rectangle saying “Try It”! Click on it, and you will be redirected to the sign-up or login page. It will be in the form of a pop-up on the right-end side of your screen.

3. As you are signing up to Binomo, you will have to give your email address and a password to log in to your account the next time.

4. When you are over with that, the next thing you have to do is pick the currency as per your country. Tick the box and accept all of the terms & conditions as specified.

5. You have now given the basic information, so go ahead and click on “Create Account.”

6. If you do not want to type out all of the details, you can just click on the “Login from Google” option to let Binomo take the credentials from your Google account. This is a faster process of creating your Binomo demo account.

7. Now, you will receive a verification link on your given email id. If you have entered your regular email account, then check that, or if you have given your Google account, then check the respective Gmail account for the link.

8. At times, the default algorithm of email providers sends the link to the spam folder. So, count on checking the spam folder as well.

9. When you have followed through the link, you will reach the Binomo website page and log in to the account.

10. Hence, you are now into your demo account and can check the tutorial guide pop-ups on your screen to navigate through the same.

Type “Binomo Demo Account” on Google to make the process even easier. The first link you get will redirect you directly to the demo account landing page. You will find a signup button placed on the right side corner. Click on it and follow the next procedures.

How to use the Binomo demo account?

Binomo demo account is accountable as the illustration of the real trading account. It is a perfect training field for beginners before upgrading onto the real trading account with their funds. 

With the Binomo demo account, you will learn how to manage the trading capital. It is important training for all traders starting their career with it. There is no such complication in using the demo account. Generally, the binary options traders will have to forecast the future price of an asset to make profits. 

There is a call and put button over the platform. These buttons indicate the buy and sell option simultaneously. If the trader can predict whether the price of an asset will go up or down, they have to choose the call or put button, respectively. Call for price hike and put for price drop!

The steps to use the Binomo demo account are as follows:

1. Choose one or more markets available over the platform.
2. Plan on making an analysis and forecast of the asset’s market.
3. Pick the expiry time for the option you have just picked.
4. Choose the investment amount for that particular trade from the virtual funds that you have in your demo account.
5. Now, you can go ahead and invest in the falling or rising prices (Call or Put).

So, this is the complete process for trading or using the Binomo demo account. You need to have a passion for trading and learn the ideal execution process.

Features of Binomo demo account

To help you get a better idea of how the Binomo demo account functions, here are some of its features for your technical enlightenment about the platform. The features are:

• You get an unlimited demo account balance.
• You have access to a complete trading terminal for the broking company.
• You can learn different procedures regarding the popular binary options contract.
• There are 23 different asset classes available over the demo platform for you to trade from.
• You have the accessibility to participate in the trading tournaments.
• The same trading terminal tools are available within the demo account that you will find in the live trading account.
• There are different analytical functions for the traders to understand and analyze.
• There is no limit upon the number of positions one can hold at one specific point.
• You get the online support feature, which is accessible at all points.
• There are over 16 tools for your complete graphical analysis.
• Be free to use over 14 different technical indicators to develop better trading skills.
• You can open up multiple tabs that can be used for viewing or detailed analysis.
• The aesthetic feature is that you get a dark color scheme for a good appeal.
• You can trade over the demo account platform even on the weekends.
• You get the Android and iOS mobile applications to ease your virtual trading experience.
• Accessibility to the glossary section for helping you understand the concepts more easily.
• The website has language-changing options for customers of different countries.

So, these are just a few of the many features available with Binomo! You just need to keep in mind to be practical and disciplined while approaching the trading measures. And rest, you can learn over your Binomo demo account.

Conclusion

So, this is a complete elaboration of the Binomo demo account and its features. You need to understand the efficacy of this platform before you can enter the live trading account. 

Therefore, this demo account is not just to train you but also to advertise the exact features of the live account. Leverage the potential of proficient trading tools over this platform.

Using these tools, you will have a better scope of making strategies for successful trading. But remember to start slow while you are trading binary options. Increase your amount for trades gradually by analyzing the number of profits you make. 

Hence, this will help you with more earnings and fewer losses. So, try the Binomo demo account today and know your potential!

FAQ – The most asked questions about Binomo demo account:

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Last Updated on January 27, 2023 by Arkady Müller