How Do I Use the IQ Option Platform?
IQ Option is one of the most popular binary options broker in Europe. Knowing how to use their platform is a must if you want to be successful with this broker. Here, we’ll go over what you need to do to familiarize yourself with this broker and give yourself the best chance possible of being profitable if you decide that you want to trade with IQ Option.
Trading binary options is already risky. Here, we will go over some of the things you can do to help yourself gain a small edge if you plan on trading at IQ Option.
[bou_button url=”http://www.binaryoptionsu.com/go/iqoption/” target=”blank” style=”default” background=”#59902c” size=”8″ center=”yes” text_shadow=”0px 0px 0px #000000″ rel=”nofollow”]Trade with a Demo Account – Click Here[/bou_button]
Intro to the IQ Option Platform
The IQ Option trading platform is very simple. From their trading page, you are given a chart of the asset you are focused on, and then a place to edit trade amounts. For example, if you want to make a $10 trade on the EUR/USD, you can later edit the amount if you wish from the same screen. Trade directions and expiries can also be dictated from this screen. If you want to make a 15 minute put option for $10, then change your trade to a 60 minute call option for $100 once that expiries, there’s no need to click on multiple screens to get this. This streamlined access is great for most people.
[bou_spoiler title=”Robot No Longer Active” style=”fancy” icon=”arrow”]Due to an imbalance of the robot software, the robot from IQ Option won’t be available. There are other robot out there to consider.[/bou_spoiler]
You can also look at different charts here. These are fully customizable, allowing you to change timeframes, and even put indicators on the charts themselves. This is a great way to hone your technical analysis skills and keep improving. If you don’t have experience with this yet, this is a great way to slowly gain expertise. They offer Bollinger Bands, Alligators, MACD, and Parabolic SAR, just to name a few. We recommend the candlestick chart option.
They also have a trading client that you can download, trading right from your desktop if you wish. Most traders use their web based browser, but if this is something that you want to avoid, there is a download available for you. Both work with equal ease.
IQ Option does offer mobile trading. On Android devices, you can find the download for their trading app on Google Play. For iOS devices, you can download the app from the iTunes store.
Use a Demo Account
IQ Option offers their traders use of a demo account. Demo trading is basically real time trading on the actual software that you will make real trades from, but in a mock setting with fake money. There is no risk of losing real money when you are demo trading because the account is loaded up with virtual cash. Just like with a real account, an IQ Option demo account allows you to see what the software is like, and your trades will be at the mercy of the market. If you have an incorrect guess, your virtual money is subtracted from your account. If you’re right, the return will be added to your account.
A demo account is one of the best ways to get a feel for whether or not the IQ Option platform is right for you. Does it mimic real trading perfectly? No. There are going to be psychological differences between demo trading and real trading. IQ Option cannot replicate these perfectly, nor can anyone else. Losing $1,000 in fake money is very different from losing $1,000 in real money. However, demo trading can teach you how to use the software well and give you time to practice so that you are less likely to lose real money when you begin. We strongly recommend you do this before trading with your real money.
IQOption recognizes that trader education is important, and we applaud them for that. They have a strong set of resources for their traders, including free webinars, and plenty of reading material. This ranges from basic tutorials on how to make a trade, to in-depth trading strategies and risk management. We firmly believe that all traders need to continuously be educating themselves if they are going to have a chance of being successful, and we recommend you take advantage of the tools that IQ Option provides for you. This will be the best way to take your trading from where you are now, to the next level. Couple this with real experience, and you are on your way to being successful.
Additionally, we also urge you to read financial news on a daily basis. You might have a favorite news source already, and if you don’t you should find a few. Having a streaming news service subscription, so that breaking news that will have an impact on your trades is sent to you automatically, will be your best bet. These services tend to have a cost, but they are worth taking advantage of as news events can have an immediate impact on prices.
IQOption does a good job of providing their traders with the news, but this is often available a day after the fact. While helpful, it isn’t the best at keeping track of real time changes in the world.
IQ Option is a strong broker, one that we highly recommend if you are allowed to trade here. Their platform is simple to use, but it also has all of the technical analysis tools that you will need to be successful. Rather than going to a different source or paying for a charting package somewhere else, IQ Option provides their traders with the tools that they need to succeed.
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***Your capital may be at risk. This material is not investment advice.***