Skip to content

Reasons To Use Binomo

  • by

Nowadays, people are inclined to trade to earn extra money. If you’re also trying to trade for additional income, you can look into a platform like Binomo. Binomo is a legitimate, online trading platform where you can use its trial version, by setting up your own demo account. However, if you’re an experienced trader, it is essential that you know of FTT or Forex. So , let’s learn about FTT as well as Forex?

What exactly is FTT?

ET Spotlight

The full definition for FTT refers to Fixed Time Trading. FTT is a type of trading prediction that determines the price of an asset’s stock will fluctuate or rise over a certain time. It is a form of trading which involves predicting the price of stocks and commodities, as well as indices, as well as currency pair. In all likelihood, FTT is one of the most basic methods of trading currently available. There are two types of FTT:

Short-term trades are trades that last less than five minutes.
Long duration trades – transactions that have an expiry date of up to 60 mins.

What exactly is exactly the FTT Platform mechanism?

Fixed Time trading system is a great platform offered by Binomo it self with a straightforward interface (Traderoom) which is accessible with any device, any time. Binomo works well for people who are brand new to investing and finance. FTT can yield higher profits however it also comes with a higher risk. The withdrawal and trading process on Binomo is swift. The Binomo login has a high level of security on its platform, since there are numerous scammers on the platform, and traders can trust that their information as well as funds are safe.

What is the process?

At the time, you determine the cost of trading and then predict when the value will change from the current value. When your forecast is accurate you will get the amount of money you put into the trade along with the bonus. However, fixed-time trading can be risky as the other investments in equity. The benefit of this kind of investment is that it is possible to begin it with just a tiny amount of money and the potential loss of it is already known.

What exactly is Forex trading?

Foreign exchange or forex trading is described as a group of sellers and buyers who exchange currency between them at a price that is agreed upon. Forex is a method that individuals, businesses and central banks exchange one currency to another. If you’ve ever traveled to another country, you’d have changed your country’s currency into the currency of that country. This is the way it operates in forex.

While the currency of any country can be changed to the currency of a different country to fulfill a certain goal, most of the time the process of exchange of currencies is carried out in order to make the most profits. Also daily exchanges make the prices of certain currencies extremely volatile. This extremely volatile attracts traders to forex, through which they earn huge profit. However, it’s also the most risky as it’s impossible to predict when the value of the currency will rise or decrease.

How does the market for currencies function?

As with commodities, trading in currencies is not through exchanges, but directly between two people in OTC (OTC) marketplace. Forex trading is governed by banks across the globe that are spread across major forex trading centres that are located in London, New York, Sydney and Tokyo in various time zones. Without a central place the forex market is accessible for trading at any time of the day.

In Forex trading, there are three kinds of markets:

Spot Forex Market Spot Forex Market an actual exchange center which allows live exchanges to be executed at the moment or within a brief period of time.

The Forward Market for Forex: It’s an example of contract-based forex trading where a specified amount of currency is purchased or sold at a certain price, and must be settled by a specific date.

Future Forex Market Future Forex Market also a form of contract-based trading where currency that is of any value is bought or sold in the future for the price of a fixed amount. Contrary to forward forex, the future forex is legally binding.

What is the process behind Forex trading function?

There are numerous methods to use to trade forex, however they all function exactly the same way by buying one currency and selling another.

In the past, in different ways, forex trading involves the exchange of foreign currencies via a broker, however since the advent internet-based trading it is now possible to benefit from price fluctuations using derivatives, such as CFD trading.

CFD can be a lucrative product that allows traders to open positions at a fraction of the cost of trading. In contrast to leveraged products, with CFDs you do not actually take responsibility for the asset, however, you take a position on whether you believe that the market will increase or decline in value. Even though leveraged investments can increase the profits you earn, they may also increase losses when the market goes against you.

What are the trends in Forex trading?

Spread is the difference between buy and sell prices of the forex trade pair. In most market, once you sign up for an forex position, you must submit two prices. If you are looking to open a long-term position and trade, you must trade at a buy price that is a little higher than the market price. If you also want to open a short-term position and trade at the selling price, which is just a little lower than the market price.