If you are looking for a trading platform on which you can really make money on binary options, then my story is for you. Relatively recently I accidentally stumbled upon an advertisement for the binomo broker on a related site. I had seen a lot of positive feedback on them before, so out of curiosity I looked at the company’s website. I liked that Binomo allows you to get acquainted with the trading platform for free through the training account. I decided to try my favorite strategy based on candlestick analysis on the demo version and I was pleasantly surprised when my approach resulted in profitable options at a rate of 85%, instead of the 65% that I was used to!! I tested this platform for a week, after which I decided to switch to trading on a real account.
So, what do I like about the Binomo platform? I’ll start from the top.
1. The wide-format trading chart
The first thing that surprised me about this broker’s trading software was the huge window of the quote chart, which is scaleable and offers backlighting adjustments and a feature to scroll through the history of asset price fluctuations. This function allows you to more accurately monitor the smallest movements in prices and see the general trend of the market. Also, having a large quote chart makes it convenient to trade on different candlestick patterns and chart patterns, which generally improves the quality of trading:
2. The set of technical tools for market analysis
From trading on primitive terminals I’ve adapted to using only chart and candlestick trading analysis. Of course, I sometimes traded on indicator strategies with the help of third-party services with live charts, but because of the differences between quotes and timeframes, it was impossible to achieve good trading statistics. The Binomo platform impressed me with its set of technical
indicators: you can set as many as you want on the quote chart and you can change their settings. The set includes the most popular and effective analysis tools, based on which you can create indicator strategy templates: Moving Average, Bollinger Bands, RSI, Alligator, and MACD:
3. The set of chart tools
As I said before, I am a fan of chart strategies, so the set of various chart tools was also great – trading on chart patterns got simpler and more profitable right away. The broker offers both classic tools (line, beam, rectangle, ellipsis) and semi-automatic tools (Hartley, Fork, Fibonacci). I want to stress that the entire toolkit is simple and intuitive to use: you can easily draw the chosen chart shape, choose the thickness of its line, and even the color. Also, you can easily build a Fibonacci or a Fork grid, trading on which brings quite impressive results:
4. The different display formats for quotes on the chart
Undoubtedly, Japanese candlesticks and lines will not surprise anyone, but apart from them Binomo has also equipped its software with bars and a mountain. For me, the last two formats are a bit unfamiliar, however, there are effective strategies that require precisely these types of asset cost display on the chart:
5. The choice of timeframes
The ability to use different time intervals for analysis of the market is available on many trading terminals today and Binomo is no exception. The broker’s timeframes start at 1s (for Line and Mountain price types), at 5s (for the Candle and Bar price types), and up to M5. Thus, you can trade in any style, including scalping. Personally, I prefer to trade with a 1-minute interval and sometimes to increase the dynamics of trading I use a 15-second one.
6. The arsenal of trading assets
There are more than 50 trading tools available for trading with the broker: major currency pairs, metals, and also stock market assets. Personally, I most often trade on currencies, but for news trading I also use Gold and Oil and shares available in the company’s arsenal:
7. The high options yield
The level of payout on profitable contracts with the Bimono company reaches 90%, depending on the type of asset and the current state of the market. On average, you can get 80% for a trade, which is very decent considering that all the strategies work with that performance factor on this platform. This means that with a system yield of 85% and average options profitability of 80%, you can increase the amount in your account at a very dynamic rate.
8. The operating speed and the handy manual
The Binomo platform also surprised me with how fast it operates and executes trade orders without quote slippage. Speedy execution of transactions is very important, especially if you trade turbo-options, and in scalping mode, where each item is important. In addition, the platform interface itself allows you to trade as comfortably as possible.
Overall, all the above features make it possible for you to achieve the most profitable trading and take advantage of the full potential of binary options.