How does IQoption Work – Guide for Dummies.
IQ Option has been in the online trading market since 2013. The platform allows you to trade several financial assets and instruments and operates under IQ Option Ltd. Over the years, it has emerged among the quickest growing online trading platforms. So far, it has more than 40 million registers users from all over the world.
It has its base in Cyprus and operates through the regulation of CySec, short for the Cyprus Securities Exchange Commission. The broker fully complies with the legislation as stipulated by the commission. Besides, it has full authority to sell its products to customers in several jurisdictions.
What is available in IQ Option?
It is a comprehensive trading platform that offers its users with abundant alternatives. At first, its attention was on binary options. Today, it allows its clients to trade CFDs on stocks, ETFs, Forex, Cryptocurrencies, and several digital options.
CFD on stocks.
Through this broker, you can trade CFDs on stocks from more than 176 different businesses. That includes the most successful companies as per the NYSE and NASDAQ.
Cryptocurrencies.
Users can trade the top 12 cryptocurrencies, such as Bitcoin, Litecoin, Monero, Dash, Omisiego, Ethereum, IOTA, Zcash, and Ripple.
ETFs.
The product is relatively new. ETFs function through indices, assets, and commodities.
Forex.
Through IQ Option, you can access more than 180 trading pairs. It allows investors to trade their favorite foreign currencies easily.
Options.
Traders can forecast several assets’ prices—for example, stocks, commodities, currencies, and indices. You can access more than ten million options through this broker.
IQ Option Demo Account.
IQ Option India provides a demonstration account similar to most brokers. However, theirs is outstanding since you have no restrictions on how long you can use the account. Therefore, you have all the time to train and try new trading strategies until you are comfortable.
The demo account comes with a virtual $10,000. In case you deplete the amount, it is easy to replenish it. Therefore, it allows you to practice your trading techniques without limitations.
Besides, you don’t have to give your personal information to use a demo account. It is not common among competitors. The crucial thing about that outstanding aspect is the protection of your privacy.
IQ Option Real Accounts.
The broker has low deposit requirements. With $10, you can access a live account and begin trading. There are two account types.
Real account.
The minimum investment is $10, and there is no limit on trading functionality. It allows traders to access more than 70 assets. The withdrawal process takes 24 hours. There are several trading competitions on the platform which you can access using your real account.
VIP account.
To hold a VIP account, you have to deposit at least $1900 or an equivalent amount in other currencies. You can also hold the account if you have a $15000 trading volume at IQ Option Ltd. The VIP type also provides you with a personal manager. The expert assists you with any concerns. Besides, there is a monthly report with your trading records. It provides valuable feedback on how the trader is performing.
IQ Option Signup.
You can sign up to IQ Option through Google, Facebook, or use an email address to create your account. Once you feed your details, create a password, and move on. After that, you can go to your demo account or deposit your funds to begin trading. A pop-up notification appears typically to affirm the creation of the demo and live trading account.
The broker has its platform, which makes it easy and enjoyable to navigate their website. You can locate crucial tools and features with ease. The platform also comes with charting tools that assist you in trading.
IQ Option Deposits.
To make the first deposit, you have to verify the account first. You add your personal information, contacts, trading experience, and a photo. The verification process varies with countries.
There are several methods that you can use to deposit or withdraw your funds at IQ Option. Users can use Visa Electron, Maestro, MasterCard, or Visa. Besides, it also supports Neteller, WebMoney, Skrill, and Cash U.
IQ Option Withdrawals.
Withdrawal of funds usually depends on your deposit methods. If you use debit or credit cards to cash in, you have to withdraw the initial deposit amount into your card. The transaction processes as a refund, meaning you cash out up to that amount on your card together with any deposit that you may have made within the last 90 days. On the other hand, you withdraw profits through your preferred e-wallet or bank transfer.
How to Trade on IQ Option.
The trading platform has a great design. There is a chart in the middle with sell or buy boxes on the right. You balance displays on the upper side and any other asset you are trading at that moment.
There is a drop-down at the upper left side of the chart section. You use it to select the instrument that you wish to trade. The drop-down has Forex, Commodities, FX options, Indices, ETFs, and Crypto. You can pick or find your preferred asset.
You execute your trades from the interface of the Web Trader. There are a sell and a buy option on the right side of the graph for your picked asset. The process is straightforward, where you only feed in the number of assets you want to buy and present your order.
Moreover, it is possible to place orders using the mobile app, similar to the web version. Matching options are present on the right side of your chart. You can adjust the leverage, investment, and price. Then you sell or buy.
Order Types & Stop Loss Tools.
The broker offers several order types to its traders for risk reduction and customization of the trading experience. The wide range of choices allows the creation of long, medium, and short term strategies.
Multiplier orders.
It allows you to use a coefficient in increasing the level of investment and risk. The tool has the potential to raise your potential profits dramatically. However, there is an increased risk, thus recommendable to traders with experience.
Stop-loss orders.
This type of order closes your position automatically to reduce losses.
Take profit orders.
Its function is the opposite of stop loss. It closes your position immediately after you gather profits to a certain point.
Trailing stop orders.
They move with fluctuations in price in the direction that you choose.
Pre-orders.
You select a price at which you want to enter a position. When the market is moving to that point, there is an automatic execution of your trade.
Conclusion.
IQ Option is a great platform that offers traders a substantial amount of value. The website combines transparency and functionality. Besides, the trades are at comfortable as they have an assurance that the platform is up to date when it comes to financial regulations.