IQ Option how it works
The IQ Option company was created not so long ago, but in a few years of its existence, it managed to turn from a newcomer to the market into one of the largest brokerage houses. The combination of high quality with a democratic approach can be called the main factor contributing to such explosive growth. The service made trading accessible to the most massive segment of users, without sacrificing the convenience of the platform, the promptness of the support service, and the variety of trading tools. Many traders ask IQ Option how it works? This review will help you answer this question.
What is IQ Option and how it works?
One of the most modern and user-friendly trading platforms developed by a group of leading traders, analysts and IT specialists, IQ Option offers professional-level trading to a wide range of enthusiasts. It is also one of the fastest growing online trading brands in the world and has made online trading convenient for everyone. The company currently offers CFDs on various assets as well as currency trading. Take your pick!
Advantages of trading with IQ Option
- The broker has the necessary license.
- Convenient trading platform: the system is developed in-house, which allows it to be constantly developed and quickly adapted to the requirements of traders.
- Low minimum deposit: you can start trading even with a deposit of $10.
- Demo account: the company provides each registered user with the opportunity to practice trading skills, test strategies and get used to the trading platform without the need to make a deposit.
- Trading Contests: With the help of regular tournaments, the company has managed to create a kind of community of traders around its trading platform, who strive to improve their trading skills, while also getting the opportunity to win cash prizes. Tournaments are held weekly; both paid (requiring a monetary contribution for participation) and free tournaments are organized. Tournaments are subject to the Terms and Conditions.
Since much depends on the first impression of a potential client, this broker has gone to great lengths to make a very nice and easy to use website which contains all the information its visitors need. The interface is not too rich in visual embellishments and follows the trend of minimalism, which is very popular among many forex brokers.
When it comes to the informative side of the site, IQ Options also manages to achieve excellent results. The site is as simple and straightforward as possible. There are three main sections on the site: "Trading", "For Traders" and "About Us". These sections contain all the information about trading conditions, licenses and all sorts of offers and trading conditions at this broker.
IQ Option offers one of the most favorable trading conditions among all brokers: a minimum deposit of $10, the ability to open an account and withdraw funds directly, a minimum transaction amount of $1, and a fairly wide range of deposit/withdrawal methods.
You can conclude transactions on the platform both for a short period of a couple of minutes, and for a longer period, for example, for a week or more. Depending on your trading style and strategy.
The following trading instruments are also available:
- Economic calendars
- Stock Screeners
- Volatility Alerts
- Previous quotes
- Multi Chart Layout
- Market updates
With the help of technical indicators, you can understand the system and see which trades can be profitable. In addition, the platform provides a number of charting tools.
For example, the charts available in the user interface include the line chart, bar chart, Japanese candlesticks, and Heiken-Ashi.
IQ Option allows you to choose from a variety of assets, including currency pairs, major international stock indices, stocks of individual companies, as well as precious metals. Such a set covers most of the possible classes of exchange-traded assets and gives the trader ample opportunities to choose a trading strategy that meets personal preferences in terms of risk and return, but it remains to be hoped that in the future the company will continue to increase the choice.
Iq Option how it works?
It is worth noting that, unlike many other trading platforms, the IQ Option trading platform is developed in-house, i.e. is the result of the company's search for the optimal solution to meet the needs of its customers. The platform has received and continues to receive many awards for innovation and user-friendly interface.
The service works equally well both on a personal computer and on mobile devices. The interface is based on dynamic charts, which show the development of the price of an asset in real time.
The most significant difference between the charting system of the IQ Option platform and most other online brokers is the presence of a set of auxiliary tools, such as zooming in/out of individual parts of the chart, drawing lines and curves, etc. on the left is an indicator of the current market sentiment for this asset, which provides additional support in making a decision to enter the market, as well as a customizable panel that allows you to display the history of transactions, a news feed, the best traders at the moment, and even educational videos.
Separately, it is worth mentioning the IQ Option trading application for tablets and smartphones, which allows you to stay “in the market” outside your own workplace. The mobile trading platform provides functionality that is as close as possible to the full-screen version, with the only difference being the location and size of individual interface elements. The platform is available as apps for Android and iOS and can be downloaded for free from the official Google Play and App Store.
Download the app today! It's completely free and very convenient!
How to register?
You can register an account on the platform by clicking on the "Register" button in the upper right corner.
To register, you need to fill in all the required information and click "Open an account for free".
- Please enter a valid email address.
- Create a strong password.
You have successfully completed the registration process! Now, if you want to use a demo account, click "Start trading on a demo account".
A free demo account is available to you immediately after creating a personal account. It provides access to a virtual portfolio in which you can carry out all the options for transactions available for a paid account.
Thus, traders are given the opportunity to test their market strategies and get used to the trading platform without having to make a deposit.
It's so convenient! You can try and see for yourself! Thus, you do not lose anything, but only gain experience and knowledge.
It is worth noting that the company has introduced the possibility of replenishing demo accounts - this means that in case of loss of all funds from a demo account, you can replenish it with a new portion of virtual currency. Nevertheless, it is recommended to test your strategies on real accounts with very low amounts (for example, $1-5 per trade) as early as possible in the process of debugging your trading system in order to get a "taste" of the real market.
Any demo account can be instantly turned into a real account by making a deposit. You can easily switch between them while you work! It is very comfortable.
To open a real account, you should click on the green button with the corresponding inscription in the upper right corner of the broker's home page, or click on the same area in the upper right corner of the demo account.
The process consists of two stages:
- Create an account (skipped if you already have a demo account).
- Depositing funds into an account.
We would like to note that the first stage can be carried out not only through the standard registration form, but also using personal profiles on Google or Facebook. You can replenish your account using bank cards (Visa, MasterCard) or popular electronic payment systems.
To withdraw your funds from the account, you can use any of the methods indicated above for depositing funds.
To initiate the process, you must complete an application for withdrawal from your personal account, indicating reliable personal data and the desired withdrawal method.
The application is considered from one to several business days, during which the company may request additional documents to improve the security of the transaction, including a scanned copy of an identity document. You can track the status of the submitted application for withdrawal of funds in your personal account.
IQ Option pays close enough attention to improving the level of financial education and trading skills of its clients, as evidenced by the presence of interactive training materials on the broker's website. It is also worth mentioning a convenient mini-course on using the trading platform, which can be launched from the "For Traders -> Video Training" section on the company's website. The course consists of several dozens of training videos that clearly demonstrate the principle of operation and elements of the broker's trading system. This section is constantly expanding!
Should I trade with IQ Option in South Africa?
Now you know what is IQ Option and how it works. IQ Option can be called a "generalist" broker, which has made convenient trading available to many market participants. Tools for trading - a great variety! You will definitely choose an asset that is convenient for you and will be able to try your hand at trading in different markets! It is novice traders with no previous trading experience who will benefit the most from IQ trading conditions - this is facilitated by a low minimum deposit, the presence of a full-fledged demo account (which is not so common among brokers), as well as an understandable and flexible trading platform and educational materials.
The creators organized the work of the platform at a very high level. You can start with as little as $10 and grow your portfolio gradually, plus you have a demo account! Trading with him is absolutely safe! Try it, this is your chance to start earning! Do not miss your chance!