If you are new to binary options trading, you may be wondering about IQ Option. If so, you’ll find everything you need to know in this guide. IQ Option is an online trading platform that allows users to trade on Forex, ETF, stocks, and Digital options. Traders can use a range of chart types for convenience and different timeframes. Here are some trading tips for beginners and professional traders to achieve positive results. So, if you wonder how to trade on IQ Option, you have come to the right place.
How to start trading on IQ Option?
IQ Option is an online trading platform with unique features developed in 2013 and is licensed in the European Economic Area. It has more than 7 million trading accounts worldwide. Before you start trading on IQ Option, you must sign up for an account and verify your identity.
You will also need to verify the activation email with the confirmation code. Next, create a Free practice (demo) account to learn how to trade on IQ Option. Make sure you practice on a demo account before starting your real money trades. In this way, you’ll be able to navigate the interface and make transactions. Remember, candlestick charts are the number one priority – most trading strategies involve them.
Note! The IQ Option platform is available in over 15 languages, including Hindi. However, it is not available in Telugu.
There are two types of trading accounts in IQ Options, one is free and requires no deposit, and the other is real money. A free practice account allows you to practice trading before depositing real money. A real account is a place where you can trade, profit, and withdraw. A minimum deposit of $10 is required to activate this account.
You can trade on multiple assets, including Bitcoin, Gold, USD/EUR, and Facebook stocks. You can make a forecast about the direction of an asset’s value; you get a profit of 60% to 90% of your investment in case of a correct forecast.
Note! AMP Futures Trading gives you access to over 50 online trading platforms. IQ Option is not included in this list; you can trade without intermediaries.
What is a perfect time for IQ Option trading?
When can you trade on IQ Option? The best time for trading is when the market is open. The financial markets operate around the clock, but you should know that the trading hours of each one can vary from one another. The major financial markets are connected via four time zones: Tokyo, New York, London, and Sydney. You should know the trading hours of these four markets before you get started with your first trade.
In addition, the financial reporting time is a perfect time to i-trade. For those familiar with financial reports, trading based on events can be a lucrative way to make money with binary options. However, without proper knowledge, you could lose your investments in no time. So, it would be best to choose a trading time when the market is trending, and news is a bit less volatile.
There’s a consensus that the best time to make money is during the workweek. It is not entirely true. Trading times depend entirely on your trading style. If you prefer high payouts and are willing to work long hours, you might want to trade on weekends. But, if you’re a day trader, it’s always good to be aware that markets are open at the weekend.
Note! You can use a trading robot that will follow financial trends and news. However, you are responsible for the outcome of your use of this information.
IQ Option was initially been a binary options broker but now offers CFDs on stocks, cryptocurrency, ETFs, and Forex. IQ Option offers many financial instruments and assets for trading. You can search for specific financial assets or browse their categories. To make your trades, you can enter the amount you wish to invest, choose whether you want to buy or sell, and input the multiplier to protect your profit or loss. You can also set your trade to close when a certain threshold is reached automatically.
Note! You can’t trade options on IQ Option without a professional account.
Trading costs in IQ Option
What are the trading costs of IQ Option? You’re paying a swap fee when you trade online by the IQ Option platform. The swap fee is incurred for keeping your trading position open overnight and varies widely from 0.1% to 1.7% in extreme cases.
There is also a spread, which is the difference between the bid price and the asking price. IQ Option pays this spread, as it’s one of the primary ways the company finances itself. The spread is set at 0.6%, but it will likely vary throughout the year.
In addition to commissions and fees, IQ Option also charges some fees, which are included in the overall trading costs. However, this is an entirely legitimate way for the company to get rich since it earns money whenever its users make a profit.
Signals and automated trades
A binary options signal provider will suggest trades based on technical charts and indicators, which you can use to analyze the market and forecast the direction of the price. The signal provider will also tell you what indicators are used to forecast the asset’s future price movement, which will increase your trust and confidence in their trades. These providers will send you trade suggestions at various times of the day, which you can select at your ease.
Signals and automated trades in IQ Option can be challenging to understand. While you can receive as many as 95-100 notifications daily from a signal provider, it can be difficult to process and interpret. Therefore, you should choose the number of signals you want to receive based on your risk tolerance and frequency of trading. Make sure the signal service you choose suits your daily trading schedule. For example, if you trade frequently, a signal provider may send you five to ten alerts per day, just one if you trade less.
For traders who are serious about advancing their trading skills, IQ Option offers tournaments. In these contests, traders compete against one another to win a prize. The rules and time limits of tournaments vary. Traders can choose from daily tournaments, weekly, or monthly tournaments. Depending on the duration and prize pool, tournaments can last anywhere from a single day to several months.
Each tournament has its entry fee, ranging from $5 to $20. Depending on the type of tournament, several types are available, and each one can be beneficial for traders. The participants who managed to increase their tournament balance share the prize pool.
Withdrawing your profits is simple at IQ Option. You can use various wire transfers, credit or debit cards, and e-wallets. Withdrawal of funds takes up to three business days to process. However, you may encounter conditions based on your location. Once you have verified that you are an IQ Option customer, you can withdraw your money.
If you are using your bank account, you can withdraw money at any time. IQ Option has a partner bank that has an international payment system. This bank card will help you withdraw your funds faster.
You can also choose to deposit the funds directly into your bank account. However, it would be best to keep in mind that this withdrawal process may take longer than you had anticipated, as the bank will incur additional fees. Nevertheless, it is worth the wait.
Note! The IQ Option platform charges a $31 fee for wire transfer withdrawals.
Tips and tutorial for trading on IQ Option
There are several ways to trade on IQ Option. These video tutorials show you how to do it in detail. You can watch these videos to learn about specific trading instruments, strategies, and important patterns. The tutorials will also guide you in deciding which assets to trade using the IQ Option.
Its video series covers various topics, including how to trade binary options on IQ and deposit/withdraw funds. The binary trading tutorial is helpful for all traders, but beginners will benefit most from leaarning about the platform and trading guidelines before starting. They are the perfect complement to other sources of information such as PDF articles, books, and courses.
So, in the article, we examined in detail what the IQ Options binary trading platform is. It is an award-winning trading platform. With a simple interface designed to meet the needs of demanding traders, IQ Option offers the best trading experience online.
There’s one major drawback to IQ Option. It’s not regulated in the United States or any other country. Because of the company’s location in Cyprus, it’s under European financial regulation. Good news – you’ll be able to trade from any European country.
As with any other type of trading, it is crucial to educate yourself so you don’t lose all of your investments. The tutorials will also help you make decisions about which assets to trade. You’ll also get educational emails from the company’s customer support team.