How does IQ Option Work for Beginners and Pro Traders

IQ Option is a well-known trading platform where you can trade a wide range of assets, such as CFDs on forex, stocks, cryptos, commodities, ETFs, and indices. Since IQ Option trading is CFD based, it means that by opening a position on this platform, traders will have a result based on the changes of the price of the instrument without acquitting it. When you open a deal on the platform, you make a prediction about the price direction and click Boy or Sell. The result of the deal depends on the direction you choose and the actual direction of the price movement.

 

 

 

RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

 

 

How to start trading with IQ Option? (How to open an account)

To start trading on IQ Option, you have to open an account on the platform first. Sign-up on the homepage of IQ Option’s official website and fill in the account opening form with necessary information including name, surname, email address, password, phone number, country, and date of birth. After you have opened your account, you can start using it.

First, you must learn all the features of the platform and try them before start trading. This is where the demo account of practice account comes to use. It offers $10,000 of virtual money for free so you can use the virtual fund to trade your preferred assets. By doing this, you can risk your strategies without the risk of losing money and figure out which strategies work for you. The practice account can be accessed after entering the trade room where you can open positions and make new investments. This platform can also be accessed for mobile app or a desktop.

You can also find a ton of useful information regarding trading on the IQ Option website. The site offers video tutorials explaining each instrument, along with patterns, strategies, and indicators. You will find the answers of most of your queries in the FAQ section and IQ Option blog. The blog contains several articles on trading strategies, and it is better to check all its sections before you start trading.

 

 

How does IQ option work for beginners?

IQ Option offers state-of-the-art trading technology with a wide range of instruments and impressive functionality. Not only experienced traders but also beginners find it easy to trade on this platform due to its intuitive interface, educational resources, and responsive customer service. You can open a trading account on IQ Option for free of cost. It also comes with the benefit of using a demo account which is very useful if you are a beginner because you can practice your strategies on this account without risking your money.

The platform provides three types of educational sources for its traders

• Market news: Thanks to in-platform news feed, traders can always be informed about important events that can influence the price movements of assets.
• IQ Blog: There is an organized online library of helpful articles on all different aspects of trading on the IQ Blog, including effective trading tips and strategies.
• Video tutorials: Traders can access free video tutorials that cover step-by-step guides on trading, and trading strategies.

 

 

How does the IQ Option app work?

IQ Option has its own native mobile app that takes binary options trading to a different level. The app is one of the best trading apps in the market because of its great graphics and ease of use. It is mostly popular among traders who cannot stick to their laptop or PC all the time. The IQ Option app allows them to trade from anywhere and at any time. It is provided with notable features to make trading simpler for traders, such as:

• Practice account: Just like the web version of IQ Option trade room, the app provides traders with a practice account for virtual trading. To switch between the real and practice account, you need to click on the balance after opening the app. You can also top up this practice account with $10,000 of virtual money at any time.
• Complete portfolio and pending orders: Open deals and pending orders can be checked by clicking on the portfolio sign in the app. You can also check your trading history here which is located in the “Closed” tab. Click on each deal to see the applied settings, along with the open and close quotes.
• Chart types and indicators: Like the web version of IQ Option, you can change the chart type and implement indicators on the app. Click on the icons at the bottom of the mobile app to do this. You may choose your preferred chart type from the list and set it. Chart type options available for you are a line chart, bar chart, candles chart, and Heikin-Ashi. You can also choose the timeframe of the candles and turn on or off auto-scaling. The icon next to chart types is the one you have to click to set the indicators. Here, you can find all indictors and graphical tools you need, such as the Fibonacci Arc Lines and the Fibonacci Spiral. More options like “Trader’s Sentiment”, “Volume”, and “Live deals” can be found in the tab “Other settings”.

• Open a deal: After adjusting the main settings, you can open a deal. To do this, you have to make several short steps. First,click on the plus sign in the left upper corner of the IQ Option app to select the asset. After that, you can set the investment amount, the direction of the price, and leverage. After clicking Buy or Sell, you can set the Take Profit and Stop Loss limits. Once you check all the settings, open the deal by clicking on “Confirm”. Once the deal is open, you can use the “Portfolio”tab to check the deal, edit the settings, or close it.
• Additional features: There are other features you can check out on the IQ Option app as well. You can explore the menu on the left for personal settings, public chats, support chat, market analysis, and video tutorials. With this app, you can enjoy the convenience and mobility of the app while trading.

 

 

IQ Option Tournament

IQ Option hosts tournaments for traders to compete for the prize money. Not only are these tournaments fun but they also allow traders to test their trading skills. The broker announces upcoming tournaments on the official website regularly. You can also get the information by clicking on the “Tournaments” feature on the left of your trading interface. The duration of these tournaments can be 1 day to 1 month. The entry fee ranges from $2 to $20 according to the duration of the tournament and the prize pool. Keep in mind that you can only trade binary options in IQ Option tournaments.

You need to pay an entry fee to join a tournament. A percentage of this fee which is 60% to 80% generally is placed into the prize pool. After you are registered, your special tournament account is created with a fixed amount. This amount is same for all participants and the objective is to grow the account balance before the tournament ends.

IQ Option creates a special leaderboard at the beginning of each tournament. All tournament participants can view it. The main purpose of this leaderboard is to show which participant is making how much money in their tournament account. It maintains the transparency of the tournament.

The prize pool is distributed among the winners in an organized manner. If it is going to be distributed among the top ten participants, then your goal is to be ranked among the top ten. The participant who makes the most money during the tournament is awarded with the largest share of the prize pool.

IQ Option allows unlimited rebuys during the tournaments. A rebuy is a deposit you can make to your tournament account with real money. For example, if there is $100 in your tournament account, you can rebuy by depositing $100 from your real account. Therefore, your tournament account balance will be $200. This rebuy amount is added to the prize pool. Take note that rebuys are permitted only if your current balance and profit from open positions are less than the balance at the beginning.

At the end of the tournaments, if you become one of the winners, the prize money is deposited to your real account automatically.

 

IQ Option Securities

Before a trader deposits funds, it is normal to worry if the platform works well and if it can keep the trading accounts and money secure. IQ Option is a free platform that does not charge users to use or install it. It also offers a practice account that traders can use without depositing real funds. So, you are allowed to try out the assets offered by the broker before investing real money. Other security features of IQ Option include:

 

Investment security

Funds are stored with IQ Option securely. This well-known broker has millions of registered users on its platform on a daily basis. The company provides the best trading conditions to all its clients. However, you must keep in mind that trading itself is a risky matter and losses are unavoidable. So, it is essential to implement good strategies and manage the risks.

 

Account security

To make sure that your IQ Option account is secure, you can use the security features that the platform offers. First, you must fill the personal information, including your phone number and email, and set a strong password for your account. By using a phone number, you can enable the 2-step authentication of the account. This feature plays an important role in protecting your account with a one-time SMS code when you log in to the account. To find the option, visit the “Personal data section” on the IQ Option website. After that,you need to click on “Safety and security” in the menu on the left.

There are more safety features such as “Session History” and “Active Sessions” here. These features allow traders to check all devices that are used to trade from the same account currently and you can also view the login history. This is where you can change your password as well.

 

Security of documents

When you open a trading account on IQ Option, the broker asks for certain documents for verification to confirm your identity. You may submit documents like a passport or a driving license for verification. When the documents are uploaded on the website, they are stored in the system safely and are only accessible by the responsible specialists. Apart from this, the company also complies with all GDPR rules. Therefore, all personal documents are stored and used according to the GDPR legislation. It is the same for the bank card verification. According to the instruction on the verification page, you have to cover the bank card information before you upload it. However, there is no reason to be worried even if you forget, because the system will cover it for it. So, if you are wondering if it is secure to provide your documents and bank cards for verification on IQ Option, yes, it is completely safe.

RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

 

FAQ

1. Can you withdraw money from IQ option?

You can withdraw funds and profits from IQ Option platform at any time. However, to withdraw profits, you must have your trading account verified. You can find all payout methods and withdrawal terms on the withdrawal page. Also, keep in mind that the funds cannot be withdrawn from practice account.

2. Which is better, TradingView or IQ Option?

IQ Option has several features that make it better than the rest of brokers, like its account security with 2-step authentication, practice account, compliance to strict regulations, easy user interface, a wide range of assets for trading, and so on.

3. Does IQ Option give real money?

You can participate in IQ Option tournaments to win real money. The prize pool is divided among the top ten participants. If you win the prize money, it is transferred to your real account.