Online trading is gaining more popularity in light of the current global financial situation and many would like to try themselves in the role of a trader. Most people think that in order to become a trader, they need a higher economic education or have an over-developed intuition. In general, most of the given opinions are nothing more than misconceptions, as everything depends on skill and the availability of a reliable trading platform like Binomo. And this is where the questions arise – “How can one become a trader from scratch?” and “Is Binomo good for the role of a trading terminal?”
In order to become a trader one does not need a higher education, no exceptional knowledge of mathematics or other science. The ability to count quickly is still useful, as a trader always has to consider at what price to enter the market, calculate the arithmetic average or percentage of risk, etc. And to do this, they need to learn quickly to enter the trade at the best price. This is especially true for scalping or intraday trading.
If one plans to engage in long-term investment, in which fundamental analysis is more important than technical analysis, then economic education will not be superfluous. But it will not give any serious advantage. Traders are not taught in institutes, but anyone with enough will can learn this craft on their own or under the guidance of another more experienced trader.
An even more paramount quality is a stable psyche, as discipline stands above all else. A novice trader must learn to control their emotions, follow the rules of the trading system and money management. It is not as simple as it seems at first glance. But most people do not realize how difficult it is to control their emotions until they try themselves in trading. Therefore, it is worth a try, and then draw conclusions whether this market suits them or not. Another myth worth dispelling is that it is necessary to have developed intuition. Intuition has no place in trading, as it is a serious business where one needs to follow a clear plan and algorithm.
But in modern trading, everything is decided by the underlying software. In fact, it means the presence of a computer or laptop with a good internet connection. For added reliability, an uninterruptible power supply can be installed. Even more convenient are trading platforms that operate on mobile phones.
Anyone can become a trader in the modern world of complete accessibility, but the success of trading will depend on the convenience and reliability of the software used as the terminal. This is where Binomo comes in as a wholesome and all-inclusive online trading terminal with a vast variety of options to suit both professional and novice traders.
Is Binomo Good For Trading?
Binomo is one of the most popular online trading terminals available for installation on both desktop and mobile devices in over 130 countries around the world. The terminal is available in 15 languages and is relied upon by over 10 million traders. The platform offers a wide range of tradable instruments, such as special financial derivative instruments, commodities, stocks, bonds, popular cryptocurrencies and many others – all that a trader needs to build a profitable portfolio.
The presence of a selection of technical analysis instruments makes placing orders and gauging the state of the market for entering a trade a hassle-free operation. Binomo is well suited for traders who value uncluttered interfaces with understandable viewports and charts that can be customized to suit any taste.
Security is paramount on Binomo, as the platform is a recognized category “A” member of the International Trade Commission and is the holder of the FE AWARDS and IAIR Award, underscoring its status as a fully regulated international financial market player. In addition, the International Trade Commission acts as the insurer of all balance accounts on Binomo by providing coverage of up to 20,000 euros per balance.
Binomo Deposits Made Easy
When first visiting the Binomo official website, users are offered the chance to first test the full functionality of the platform for free via a demo account version. The demo gives users access to a $1,000 virtual currency account that can be used to test the various functions and features of the platform at zero risk for the user.
Once users of Binomo register an account using their emails, they are given the chance to make full use of the Binomo deposit feature. The feature allows users to top up their account balances with as little as $10 or euros via bank cards and e-wallets. The balance account can be withdrawn to the bank card of the user after passage of the mandatory KYC and AML procedures using passports or other personal IDs for identity verification. The minimum deposit was set to allow users to have low entry thresholds, and to ensure adherence to the minimum order size of $1 or euro.
Binomo Pantip Verdict
The Binomo Pantip review that was recently published to highlight the functions and advantages of the Binomo platform placed specific focus on the versatility and convenience of the terminal. The availability of Binomo around the clock for non-stop trading even on weekends and holidays makes the platform a go-to solution for those seeking to take advantage of asset price exchange volatility when the rest of the market is inactive.
Another important highlight of the Binomo platform is the vast database of knowledge the official website provides for novice traders. The database includes detailed reviews of various strategies as well as guides and tutorials on the instruments, tools and charts provided by the terminal.