Binance exchange: how to trade on the classic market

The Binance crypto exchange has all the conditions for working with the classic market. Beginners will be comfortable to master a convenient terminal. And experienced traders can use numerous features for professional trading.

Start of trading

To start trading activity, you need to go to the official website:

Using the “Login” button and entering his registration data, the trader will be able to get into his personal account. After that, you need to open the “trade” section. Next, a trading terminal window will appear, where you can analyze the market and open deals.

The interface of the spot trading platform contains all the necessary functions and provides quick access to the necessary information.

Different trading formats are available on the Binance cryptocurrency platform:

  • Base. It is a form that allows you to convert one currency to another.
  • Classical. When this mode is selected, a standard version of the terminal opens with a chart, information blocks and buttons for opening deals.
  • Advanced. All trading instruments available on the exchange are placed in one window. For this reason, the position of the blocks changes.
  • Margin. Allows you to quickly switch to trading with leverage.
  • P2P. Here you can directly enter into transactions with other traders.
  • OTS. A section for those who intend to open trades with a large volume.

This is what the terminal looks like when choosing an advanced trading mode.

You can find a suitable market on the site. To do this, click on the “Markets” section. After clicking, a window will open, where there will be a table with information on different categories of trade.

In the “Spot Markets” section, you can choose a suitable option. For example, Fiat, which allows you to trade fiat currencies and stablecoins.

Opposite each currency pair there is a “Trade” button located in the right column of the table. By clicking on it, the user will go to the terminal.

Interface

Visually, the terminal can be divided into 14 panels and a technical support chat icon.

Each of them performs its own function:

  1. Binance announcements.
  2. Daily trading volume for the selected pair.
  3. Book of orders placed for sale.
  4. Book of orders opened for purchase.
  5. Japanese candlestick chart, market depth indicator.
  6. Trading type selection menu: spot deals, cross-margin, isolated margin.
  7. Types of deals. You can use: limit, market, stop limit, OCO (interchangeable orders).
  8. Buy cryptocurrency.
  9. Sell ​​digital money.
  10. Market displaying currency pairs and current prices for them.
  11. The last transactions completed.
  12. Important market changes. Key events and major currency fluctuations are displayed.
  13. Orders that are still open.
  14. History of transactions for the last day.
  15. Binance exchange support.



Before making decisions, you should carefully study information, data on quotes, news and pay attention to significant market changes.

You can choose a currency pair for trading in the upper central part of the terminal. Opposite some of the symbols is the designation “10x” or “5x”. This is the amount of available leverage:

when a 10 to 1 ratio can be used, use the “10x” icon;

with the 5 to 1 option, 5x is displayed.

The chart view can be changed. The standard version looks like this:

If you click on TradingView, another type of display of the asset’s moving price will appear.

If necessary, you can display the market depth chart on the screen.

In the upper part of the chart there is a panel for selecting time intervals.

Also, the terminal has the ability to place ready-made graphic figures

It is convenient to do this in the TradingView version. To select such shapes, you need to use the side menu.

Below the chart there is an indicator showing the volumes of transactions. The trader will be able to customize the work with the chart for himself using the settings. You can find them by clicking on the round icon at the bottom right of the graph. After clicking, a list of available settings will appear.

To select indicators, click on the settings sign next to the timeframes.

On the left side of the trading platform, you can see the order book.

There are 3 options for displaying it:

  • sale and purchase transactions;
  • buy orders only;
  • displaying sell orders.

In the order book, you can select the volume of transactions that will be displayed.

On the right side of the screen there is a Depth of Market, which displays currency pairs and changes in their value as a percentage.

Below you can see other people’s and their own deals.

The section “Important in the market” displays data on strong changes in the value of assets.

After mastering the terminal, the trader will be able to comfortably trade on the Binance exchange.

Trade opening and available order types

To buy or sell an asset, use the panel for opening orders. Consider buying USDT as an example of a trade.

If the user is on the home page of the Binance website, then he will need to select the “Trade” section of the menu and then click on the appropriate format for working with the market.

When the transition to the terminal occurs, in the block for opening deals, you will need to enter the asset price and the desired number of currency units.

After filling out these lines, you must click on the green button “Buy USDT”. The same procedure is used to sell an asset.

In the process of trading, you can use orders of the “Market” type. They open quickly and at the current asset price. The player can open such a deal without delay and manually close it.

Limit orders allow you to set the price at which the trader intends to buy or sell an asset. Such a transaction is needed if the desired asset value does not match the current price. For example, USDT is sold at 70 rubles, and the user wants to buy currency at 75 rubles.

The player determines the price at which he agrees to buy or sell the asset, after which he waits. If the market goes in the right direction, then when the specified value is reached, the deal is activated. If the chart reverses contrary to forecasts, the order will simply not be opened.

The scale in the panel for opening deals indicates how many rubles as a percentage a trader is willing to spend to buy the selected instrument (for example, USDT).

  • Stop-Limit orders are used to work with a possible drawdown. When opening such a deal, 2 values ​​are used:
  • Stop price. It is used to launch a pending order and move it to the order book.
  • Limit price. Determines at what cost the asset will be bought or sold.


The limit order is activated when the chart reaches the stop price level. When the limit value determined by the trader is reached, the order is closed – a sale or a purchase occurs.

For example, if, when trading the ADX / BTC pair, the player assumes that the asset will grow after crossing the 0.00004 level. For this reason, he plans to buy the instrument only after breaking this mark.

A time-delayed transaction is suitable for such an operation. The player selects a stop-limit order and sets the appropriate values.

The stop price is defined as 0.00004 – this is the trade activation point. The next line is “limit”. Here the value is 0000401. Next, you need to click the Buy ADX button and confirm the purchase. After completing these steps, the pending trade will be placed.

“OCO-order” allows you to open two transactions at the same time. Of the two, only one can be fulfilled. As soon as one order is fully or partially executed, the second is automatically canceled.

If a trader manually cancels one of the two trades, the other will also be canceled. This function is very convenient because it allows you to simultaneously place two limit orders for different price movements – in the bearish and bullish directions.

When working with OCO transactions, the following rules should be considered:

  • Sell ​​orders. The “limit” price must be higher than the market price. The market value of the asset must be set above the stop price level.
  • To purchase. Everything is in reverse order. Limit – less than the market price and further according to the scheme.


If a trade is opened at a price of 15, then:

  • At the time of buying. In an OCO order, the limit price will be above 15 and the stop price will be below 15.
  • When selling. The OCO trade has a limit value below 15 and a stop price above 15.

To open interchangeable orders, you need to select it in the buy / sell panel.

Next, you need to determine the direction of the transaction. For example, it will be a purchase. After that, you need to set the values:

  • the limit price will be 27 USDT;
  • the stop price in this case is set at 29.5 USDT;
  • in the stop limit, you need to set a stop price of 29.5 USDT;
  • the value of the limit price will be at 30 USDT;
  • a suitable amount is 10 units. 

After completing these steps, you must press the green button “Buy …”. As a result, the orders will go to the exchange. Trading with OCO orders minimizes the risks of losses and increases the chances of getting a profit. When trades are open, they can be seen in the lower section of the terminal.

If you have any difficulties, you should click on the yellow chat circle in the lower right corner of this panel. As a result, a window with a form for contacting support will open.

If the order was not executed for any reason, you need to check the indicated prices and volume. You can quickly fix the situation by canceling the deal and opening a new one.

Using robots

The Binance platform has the ability to download bots for trading automation. When choosing this way of working with the market, you need to consider API restrictions. This refers to the number of operations per minute. If there are too many requests and the limit is exceeded, the system will launch a 2-minute ban. To prevent this from happening, bots track the number of operations and slow down their activity when they approach the limit. As a result, operations are performed with a delay.

When a trader uses two or more robots, he needs to make sure that each program is loaded from a separate IP address. If one address is used to connect all bots, then the system will combine all their requests under one username and a two-minute ban will happen very quickly.

The functionality of classic trading on the Binance exchange is generally quite well thought out. Thanks to this, traders can trade with maximum comfort and use various instruments for certain market situations.