Decided to start trading?
Here’s a guide you will need to place your first trade on IQ Option.
These are the same steps I used when I started with IQ Option. But of course, I am no longer a beginner and steps have changed as well as strategies which I will discuss later here, so make sure to bookmark this site for future reference.
First things first:
What is IQ Option?
IQ Option is an online trading platform giving customers a chance to trade a wide variety of financial instruments and assets such as: –
- Binary Options.
Simply put, IQ Option is a trading platform that you can use to make real money by predicting the outcome of your preferred assets. But that’s only possible if you are trading on a real account with real cash.
Talking of trading with real cash on IQ Option, you must be thinking,
Can IQ Option be trusted?
The answer is yes, IQ Option is legit.
Let me explain.
IQ Option is among the biggest and most successful binary options brokers in the world. Boasting over 40 million registered users.
Trust me; you don’t reach such status with sham products or services. Besides, the company is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Seychelles Financial Services Authority (FSA).
And to top it up, IQ Option also has an Investors Compensation Scheme that protects clients’ funds up to a max of $20K.
How to get started with IQ Option.
There are three types of trading accounts on IQ Option.
- Practice/Training account– this is a free demo account. And with it, you get a chance to experience the real trading features using $10K free practice funds. You do not need any credit card to open this account and if your funds are drained, you can replenish the account for free.
- Real account– Unlike the demo account, here, you are trading with real money with access to over 500 assets. And you can withdraw your earnings within minutes. However, you can switch between training and real account anytime you want.
- VIP account– as an IQ Option VIP, you enjoy the following benefits; personal managers to help you resolve your account issues, higher profitability rates of up to 3%, and free IQ Option tournament participation. You can join IQ Option VIP by depositing $3K into your trading account.
Now, as a beginner, it is advisable to first open a training account and later transition to a real account when you are comfortable trading.
How to open the IQ Option demo account.
To open an IQ Option training account:
Step 1 – open an account.
- Click here to open an account with IQ Option.
- Provide your email address and choose a password you can easily remember.
- Hit ENTER, or confirm by clicking OPEN AN ACCOUNT FOR FREE.
Step 2 – agree with the risks disclosure.
- Trading in general carries risks. And you are not guaranteed profit. For this reason, a demo account is crucial. Learn all you can about trading binary options, even try one or two strategies.
- Click on I have read and understood the risks. Then click on start trading.
Step 3 – select a demo account
- Once the window fully loads, you’ll have two options; demo account and real account. I have provided the difference above.
- Go for the practice account. so, click on Start Trading on a practice account.
Step 4 – Start Trading
Congratulations, you’ve opened the IQ Option demo account.
As I had mentioned above, whenever you wish to switch to a real account, click on the account balance and select REAL ACCOUNT. Do the same to switch back to a Demo account.
Good Luck Trading.