If you’re new to IQ Option, the chances are you will have plenty of questions. The main reason behind this is that IQ Option offers a lot of trading options that can be easy to lose yourself in. This is why we’ve come up with a short guide where you will be informed about all the things you should know about using IQ Option as a trading platform.
What Is IQ Option
IQ Option is a very well known trading platform where it’s possible to rade a wide array of instruments including CFDs on Forex, Stocks, Indices, and of course Crypto. IQ Option is CFD based (Contract For Difference), meaning that when you open a deal on this platform the outcome will be based on the changes in the price of the given asset without acquiring it. When you open a deal on the platform, you predict the directions of the price development, and you open a deal by clicking on either the “buy” or “sell” buttons.
What Does It Offer
CFDs on stocks can be traded from over 176 different companies, including very successful businesses. As seen in this thorough review of IQ Option, it allows customers to trade CFDs on stocks, Cryptocurrencies, Exchange Traded Funds (ETFs), Forex as well as a wide range of different digital options. All of the top 12 cryptocurrencies can also be trade including Bitcoin, Ethereum, Litecoin, and others. ETF trading works by tracking commodities and indices which can be traded in the same way as common stocks, with more than four thousand different ETFs to choose from. FX trading is also very popular on IQ Option, providing access to almost 200 currency trading pairs.
How To Get Started
If you want to start trading on IQ Option, firstly you need to create an account on the platform. To do that you need to sign up on the main page and fill in the necessary information. Once you’ve created your account, the options are endless, but there are things you should learn such as all the different features on the platform. You will even get $ 10.000 of practice money for free that you can use to decide which assets you want to trade and which strategies suit you best. After that, you’ll soon realize that there is a lot of useful information on the website too.
How Much You Need To Pay
There is no fixed amount of payout that can be guaranteed to each trader meaning it entirely depends on your strategy and knowledge, as well as the investment amount. You can withdraw all of your funds from the platform at any given time by creating a withdrawal request and passing the verification process. It’s important to note that the amount you make will depend on you alone which is why you must educate yourself about the marker so you end up making better investment decisions. If you happen to have any kind of trouble, you can always contact Support for assistance.
Like many other competitors, IQ Option offers a demo account. However, as we’ve noted in the paragraphs above, the IQ Option demo account stands out because you get $ 10 000 in virtual funds. If you run out of this amount of money on your demo account, you will easily have the amount replenished, which will allow you to keep practicing your trading techniques. Another element that stands out is the fact that you don’t need to give out private personal information before using the demo account which is rarely the case with these kinds of platforms.
For your IQ Option real account, you will be required to deposit a minimum deposit o gain access to a live account. This can be as low as ten dollars. The two trading accounts that are currently available are the Real Account and a VIP Account. The Real Account can be accessed with the minimum investment and doesn’t have restrictions on trading functionality. It gives access to over 70 assets and users can request withdrawals that are processed within 24 hours. The VIP Account is available only to traders who deposit $ 1900 or an equivalent amount in other currencies. It also includes a personal manager to assist you with an issue.
If you’re a beginner trader on IQ Option, your objective should be to learn how to identify trends, as well as to find the right assets to trade. You should aim to manage your account balance. All of this can seem daunting at first, however, with consistent work, you will be able to develop which is why it’s highly recommended that you use your demo account to practice.