Weekend Trading with Binomo
The latest developments in technology have made it possible for traders to enter trade positions even during weekends.
For example, the foreign exchange market, commonly known as Forex, has no central location. Forex transactions take place throughout the day across multiple channels worldwide. In the absence of a central location, Forex trading can be done in any location where the market is still open, in any country across the globe.
The same holds true for cryptocurrencies such as Bitcoin and Bitcoin Cash, for which reason you can trade digital currencies at weekends. Today, online brokers such as Binomo offer weekend trading on a variety of instruments.
Availability of Weekend Trading
Markets across the world usually close down from 4:00 p.m. on Friday to 9:30 a.m. on Monday. The hours may vary slightly from one exchange to the other as each country has its own schedule. For example, Middle Eastern countries trade from Sunday to Thursday. In some countries, the market remains open from Saturday to Wednesday.
Owing to the latest developments in technology, which have contributed a great deal to globalization, traders can gain access to multiple markets across the world through online brokers. This means that weekend trading in several instruments such as futures contracts, stocks, currencies, binary options, and CFDs is very much available.
The following indexes are very popular among weekend traders:
- DFM Index, a major exchange in the UAE
- Kuwait Stock Exchange, Kuwait’s national stock exchange
- Tadawul Index, the only stock exchange in Saudi Arabia
- Tel Aviv 24 Index
- US and European indices such as DAX, Wall Street, and FTSE
Benefits of Weekend Trading
You may wonder why you should bother about trading at weekends when you can easily do the same on weekdays.
Weekend trading is advisable because it has the following benefits:
- Profitable Strategies:Some trading strategies work just work better at weekends. For example, Asian markets that stay open at weekends are totally different from the Western markets. Expert traders can easily use these differences to their advantage.
- More Profits:Thanks to the availability of weekend trading, you don’t have to take a break from trading. The more you trade, the more you will profit. Weekend trading gives you more opportunities to make profitable trades.
- Ideal for Busy People:Working people who are on a busy schedule simply cannot trade during the weekdays. Such people can make trades at weekends. In other words, weekend trading allows you to choose your own trading hours. No longer is trading restricted to the weekdays.
- Better Focus:You may not be able to focus on trading during the weekdays because you are busy with work. Under such circumstances, weekend trading allows you to focus on trading when you are free. The absence of work gives you time to do your market research and make informed trading decisions.
Limitations of Weekend Trading
At the same time, weekend trading has a few limitations, such as the following:
- Terms & Conditions:Weekend trading terms are different from weekday trading terms and this may not always work in your favour. Read the terms & conditions of weekend trades, especially if you are in the habit of using stop loss.
Some brokers do not offer stop loss at weekends. In some cases, weekend trade positions are left open into the official market hours, which may make a huge difference to your trades. You may have to alter your trading strategies to suit these terms & conditions; so make sure that you read them and understand them thoroughly.
- Few Instruments:The choice of assets is limited for weekend traders. Your favourite instruments, the ones you understand very well, may be out of your reach at weekends.
- Low Trading Volume:Trading volume is very low at weekends, resulting in charts you cannot use and unresponsive markets.
- Inconvenient Timing:You may not want to stay awake and trade when you would rather be asleep. For example, if you live in the US or in the UK, you will be able to trade only on the Middle Eastern stock exchanges. This means trading at midnight, which you might not like.
- Broker Time:Many brokers do not find it profitable to keep their services open at weekends. If you are into weekend trading, you have to first find out if your broker remains open on Saturdays and Sundays. Fortunately, a number of reputed online brokers offer weekend trading. Some of them are Binomo, 24Option, ETrade, FXCM, Nadex, and IG, to mention a few.
Successful Weekend Trading at Binomo
If you want to trade at weekends, you can consider signing up at Binomo, an award-winning and licensed online trading platform.
Here are a few reasons to create a trading account at Binomo:
- As many as 920,080 traders trade on the Binomo platform every day.
- Binomo is home to a large community of traders from over 133 countries.
- According to facts & figures on the Binomo website, the online broker executed over 31 million successful trades last week.
- The minimum account balance is only €10, enabling you to get started without a huge starting capital.
- You can trade for as little as €1, ensuring that you will not lose a lot of money when you are still trying to understand trading strategies.
- You can trade non-stop at Binomo, opening several trade positions at a time without having to wait for a transaction to end.
- You can trade and profit even at weekends.
- If you are new to trading, get started on a practice account or a demo account. You can switch to live trading when you are ready for it.
- Get instant live support throughout the day.
- Gain access to free educational material at Binomo.
- Since Binomo offers native mobile trading apps for Android and iOS, you can trade and make profits on the move.
- Participate in daily tournaments, compete with your fellow traders, and win real money prizes.
Binomo is the International Financial Commission’s A Category member, which means that it guarantees high-quality trading services and complete transparency. So, you can trade your favourite instruments at weekends in complete confidence.