Binomo tournaments are trading competitions. All contestants strive to make the highest profit within a specific period. The tournaments are not winner-take-all events. People win prizes depending on how well they perform in the tournament.
To access Binomo tournament, click on the trophy icon on the left side of your trading screen.
How to Take Part in the Binomo Tournaments
To take part, you need to find information about ongoing competitions. You can find information by clicking the trophy icon on the left side of your trading screen. You will see all the competitions. Follow the steps below to register for a tournament.
- Click Read more.
- Remember, you have to register before the event begins. Click sign up to register.
- After signing up for the competition, return to your trading page. Click account, and change it to the competition you registered for. The tournament shown below is called Daily Free.
You can now begin trading.
Binomo Prize Pool
A prize pool is a fund from which prizes are disbursed to the winners. Each competition has a prize pool. Every pool has a minimum amount — the prize fund cannot go below this point. To see the prize pool for a competition, follow the step below.
- Click the tournament. You will find the prize pool details on the tournament page.
During the competition, players make rebuys. The rebuys allow them to continue playing after exhausting their initial funds. Any deposit from rebuys goes to the prize fund; increasing it.
Participants
The traders who take part in a tournament are called participants. If you register to compete in a tournament, you are a participant. To know the number of participants in a tournament, follow the steps below.
- Select the tournament.
- Next, click tournament details.
- You will find the number at the upper of the page.
All the Binomo tournaments are not equal. The prize funds vary. The competitions vary by time frame too. Some competitions require you to have a specific type of trading account. There are also exclusive events — you need an invitation to take part in such events.
So, look at the tournaments available and see if you meet the criteria. If your account does not meet the requirements of a competition, you can upgrade it.
Re-buy Cost
After registering for a tournament, every participant receives virtual currency. This is the currency participants will use for the competition. If contestants exhaust their virtual funds during the competition, they can buy more.
The cost of refilling the tournament account is called the Rebuy Cost. The Rebuy amount will come out of your Real account, and put into the prize pool. To fund your tournament account, click Rebuy.
Number of Re-buys
This is the number of times participants purchased virtual trading currency. To access the number of rebuys of a competition, follow the steps below.
- Select the tournament.
- Next, click tournament details. You will find it at the upper part of the tournament details.
Binomo Tournaments Instruments
Instruments are trading tools that help you make better decisions. They include indicators and strategies. You can also use instruments in tournaments. To access Binomo instruments, follow the steps below.
- Click the compass icon.
- Next, select the instrument you want to use and click Apply.
Binomo Leaderboard in Tournaments
If you want to know how a competition is faring, head to the leaderboard. The Binomo leaderboard shows the leading contestants. You can see the name of the trader and the amount of profit they have made. You can also see the prize for their position.
Always check this section to know what is happening in a tournament. To access the leader board, follow the steps below.
- Click the tournament
- Next, click the leader board. The leader board will drop down.
Binomo Tournament Sample
There are many competitions available on the tournament page. However, if you have just started trading, you can try your skills at the Daily Free. It is a tournament that Binomo offers for free. You don’t need to pay a sign up fee to take part in the Daily free tournament.
However, the profit in the Daily Free competition is small. Also, most participants in Daily Free are not very experienced. If you want to make more profit from tournaments, enter paid competitions.
The screenshot below shows the Daily Free tournament.
