IQ Option Trading Platform Review – Is it Safe? All About Trading Forex on IQ Option By News-School
Here in this review of IQ option, we will discuss how safe it is. And step by step tutorial on how you can register with IQ option demo account.
What is IQ option?
IQ option is an online platform where you can easily trade a variety of financial instruments. These instruments could be any cryptocurrency, stocks, and even Forex. If you want to sell through exchanging money, using Forex through IQ option would be the best choice. Before reading further, According to our research IQ option is a legitimate platform and safe to use.
Overview of the FOREX Market:
IQ Option gives its users the option to use one of the biggest exchange markets out there: Forex. IQ option has up to 120 currency pairs. The exchange happens with the help of two currency pairs. That means that you give one currency and then buy another. Through IQ Option, you can trade 24 hours for five days.
Trading Currency Pair in IQ Option:
The amount of one currency against another currency is continually changing. In every exchange market, this change is caused by an alteration in supply and demand. Due to these changes, you can make money as an exchange trader.
If a Chinese trader is buying goods from an Australian trader. He will have to convert his Renminbi (RMB) to AUD, which is Australian money. If more Chinese traders want to buy stuff from Australia, more AUD will be required. That would mean that the demand for AUD will increase. On a relative basis, the rate of AUD will increase against RMB. Now, suppose you are someone who has AUD. In that case, you can easily exchange it and gain money since you earlier gained AUD at a lower rate. Still, now you are selling it at a higher rate, which means you get the difference money for free.
Before Reading this Review Further, Keep in Mind, “The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose”
However, in IQ Option, your goal is to predict whether a particular currency will rise or fall depending on different situations. If you anticipate that a specific currency or option will decrease in rate, you can choose to sell. And if you think the opposite will happen, meaning the option or currency will increase in rate, you can select buy. The objective is to make a profit out of the differences in the prices.
Forex Trading in IQ Option:
Forex prices are usually determined through bid price and ask price. The former is the money a person is eager to sell a currency at one time. At the same time, the latter is the money a person is willing to buy a particular currency at a time.
Competitors in the Forex Market:
The forex market has different types of actors involved. These actors’ actions decide whether a specific currency pair rate will rise or fall. The actors could be small or big, depending on their position and their impact on the Forex market. The big actors are the central banks or governments. They make volumes of change.
But these kinds of changes rarely happen, such as when a country is facing a massive crisis or natural disasters. Small actors are the individual exchange traders like you whose actions do not hold a considerable change in the Forex market. But if many individual traders start to do something in a direction, that creates profound changes.
In conclusion, it is necessary to remember that no one actor can control the Forex market since many factors influence supply and demand. So, every person has an equal opportunity to make money through profit in this market.
Through the following steps, you can easily open your IQ Option account and trade money through Forex;
Go to the IQ Option official website and open your trading account. But before doing this, our suggestion is to open a demo account. With the demo account, you will get $ 10000 virtual money. You can quickly learn how to use IQ Option and Forex utilizing this money, and you will get to know the basics of how the account works. If you directly want to register yourself, then the process is the same as opening any other store online. You should fill in the details the account requires from you. Then you will be sent a link to your email address. With this link, you can confirm your email; and verify your account.
After your account is set up, you should open your account by entering your email and password. Once you are directed to your account’s main page, you should click on the (+) sign on the top bar. That will open different bars which will show other financial instruments. It would help if you chose Forex here. Once you decide that, you will see a list of foreign currency pairs. Click on the currency that you would like to exchange.
It would then help if you chose the indicators and the chart type you would want to use; it is up to you. Some people prefer candlesticks chart. You also need to set a time interval as well. Then you need to fix your auto-closing settings and input the amount that you would like to invest.
Once you set up your account and you are ready to start trading for real, you can make a deposit and start trading as little as $1 per trade, Which makes IQ option the best trading platform to start. After you need to choose if the price will increase or decrease. You should keep a check on your losses and profits. Some people find this thing tiring, so they set up their account with stop-loss features to not get empty or do not face significant losses through trading.
If you invest $ 100 in something and your prediction becomes completely wrong, you could save your money from going to $ 0. That can be done by putting the option of stop loss. If you want to stop the loss of your invested capital to become 10 % less than what it was, then the stop loss feature will make you exit the trade if your money reaches $ 90. And if your prediction was right then you could end up with $50 profit which you could withdrow to your bank account.
Forex Advantages on IQ Option:
There are several advantages if you use Forex through IQ Option;
- With other options market, there is a time limit to when you are active in the trade. If you use Forex on IQ Option, then you can be engaged in the business for as long as you want. You will only be inactive in the trade if you exit it by yourself. It could also be done if you have set a stop loss feature or take profit feature.
- There is a stop-loss option to help investors or traders not to lose their capital completely; if you put a specific limit to your loss, then even if the trade goes against you, there is always a stop loss.
- There is another option, which is known as the take profits option. It roughly works in the same way as the stop-loss option. This feature helps you to secure profits through a particular trade. Suppose you have set a $ 50 profit limit on a business and gain this much profit. In that case, you will automatically be exited from the work. This feature is helpful when the market is continually fluctuating. Sometimes, you gain an appropriate amount of profit, but you lose that profit since the market fluctuates. With this option, you will not lose that profit.
- With IQ Options, you can use leverage with Forex trading. Through this, you can add appropriate leverage options to the amount that you want to invest. That will, in turn, increase your profits as well. However, this option should be used with care since it could get you extreme losses as well. This option should preferably be used with other tools as well so that if a failure happens, you are not left with zero money.
- In Forex trading, your trade will remain open until your strike price is not reached. That means that you can trade until the trade exits. You can close the transaction by yourself on the IQ Option. It is preferred because you deal with those currency pairs where you think that price will fluctuate in the session.
- On Forex with IQ Option, you can get returns that exceed more than 100 %. That is because the more your prediction becomes real, the more probability you have of getting profit out of it. If you had set up a leverage option with this, that would make your profit increase tenfold. Since every gain you earn, it will be multiplied with the leverage amount you have set up. That all highlights that Forex trading on IQ Option can get you vast percentages of returns in the markets.
However, this could also mean that you have the probability of getting more losses than expected. In financial markets, that is always the case, but this becomes more of a problem with leverage. So, it would help if you used some tools of Forex in IQ Option with extreme care.
List of Countries Where IQ Option is Banned:
Here is the IQ option banned countries list:
- North Korea
- South Sudan
For better predictions, you should use the economic calendar and sync with the latest world news. That will allow you to make better predictions and hence gain more profits. Although, Forex trading is profitable, however, its market is the most liquid one out there, which means that you can earn profits and losses as well. So, if you want to enter this market, you should come with an open mind.
Email: firstname.lastname@example.org for all types of questions
Email: email@example.com for depositing issues
Phone number: +44 20 8068 0760
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