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Take-profit and Stop-loss on the IQ Option platform!
As many have already noticed IQ Option has added Forex to its collection of trading tools. The approach of this event was truly innovative and engaging, and therefore, as a consequence we are happy to introduce you a trading benefits of Take-profit and Stop-loss orders (SL/TP). Because the control of SL/TP is one of the key concepts at Forex market.
Getting profit from the deal at the right time is as important as to determine the optimal moment of its stop. Price fluctuations is an integral part of the life of the market, and what once seemed like a positive trend in one moment can totally opposite turn into a sudden decline.
Common belief says that it is always better to take profit now rather than wait and risk losing possible earnings. Remember that giving profit to grow without closing the deal prematurely is not bad, because it is the way for a part of the potential profits is formed. But in any case you should not get involved and wait until the last, because the chances to keep or lose are equal.
Traders use Take-profit and Stop-loss orders to prevent unnecessary potential financial risks. This occurs through the confining of loss and an automatic closing position, thereby ensuring the timely receipt of profit from successful deals that will help to keep the potential profit from fluctuations at the market. In other words, these features help to create a “safety net” for traders in the case of impulsive, premature and rash solutions by trading online.
In simple words, the principles of work of Take-profit and Stop-loss are the same, while their definition are different. Take-profit orders gives you the opportunity to take off money at the peak of the transaction. And the essence of Stop-loss orders lies in minimizing of the expenses of the trader. The trader can set SL/TP orders over the already existing, as well as over pending trading. But it is worth to remember, that they will be performed only at open positions and not in case of pending orders.
So, what kind of miracle Stop-loss and Take-Profit orders are? Why should a trader use it in trade?
Stop-loss is a convenient way to minimize losses from the deal, if the price of the chosen asset is beginning to change – progressing in an unprofitable trend. In other words, this it lets trader to send this order to his Forex broker and limit its possible losses on a current open position. The position of a specific deal is automatically closed at the current market price when the price of the chosen asset reaches a current level. Thus, trader minimizes his potential losses from the ongoing trade. It is important to note that Stop-loss price does not have to be the price of the Stop-loss order execution, that is, it can also be used if price gap occures.
Stop-Loss order opening
When you open Stop-loss orders a trader it is necessary to determine the amount, which you willingly ready to risk in the implementation of each specific deal. In its turn, a special calculator at IQ Option trading platform will automatically perform all the necessary calculations for a setted amount of interest depending on the value of the initial investment. The success of the trader will consist of a timely response and ability to pre-close the transaction to not incurre the losses. Every trader develops these skills after the lapse of considerable time with the an accumulated trading experience. Top traders share the usefulness of these orders, as not just the amount of money trader is willing to “sacrifice”, but also to ensure that it is reasonably use to the conditions of the market as a whole.
3 basic techniques of determining the optimal Stop-Loss orders:
• “Percentage stop” is used to determine the position of Stop-loss orders, based on the amount of investment that a trader is willing to risk at any given moment of trading process. With all this, Stop-loss order depends on total capital and the amount of invested funds. But remember, one unwritten rule of experts, who recommend to allocate a Stop-loss order only approximately 2% (not more) of the total amount of trading capital per one transaction.
• “Graphic stop” – a method oriented for the most part on a technical analysis in contrast to the rest of the methods. As experience shows, the optimum Take-profit and Stop-loss orders allow to determine the levels of support and resistance. Specifying the point of Stop-loss beyond these levels is in itself one of the methods of how it can be done. Trader gets a good chance, when the market trades outside of these areas, as trends continue to work against you. As a result, it will be the time of collecting the remainder from the investment.
• “Volatility stop” is “desirable thing”, that noone wants to miss. As practice shows, the Volatility stop can be pretty much different for various assets. This significantly affects on the trade, because knowing what range of price movement whether stocks or commodities, trader will be able to set the optimum Stop-loss order. You should always remember that all volatile assets require a high attention to risk creating, and as a result, expectation of higher levels of Stop-loss orders.
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Take-profit orders allow to close the deal with a profit, when the price of asset reaches a certain set level. The execution of this order provides to closing the deal under the rules of limit orders. Take-profit can be set only at the open position, stop order and/or pending order.
It is recommended to use technical analysis tools for Take-profit orders to determine the ideal moment for closing the deal right in front of the trend reversal. Pay your attention on Bollinger bands, Average Directional Index and/or Relative Strength Index, as all of them are best suited for controlling Stop-loss and Take-Profit orders.
(!) little note: it is recommended to use the ratio of risk-reward equal to 1:2. So, rader will be able to retain profitability constantly on a long term basis, even with an equal ratio of failed and successful transactions. But this does not mean that this ratio is the essence and the Golden rule which must be followed. You should always correct any advice according to your spesific trading strategies. In this case, look for your optimal risk-reward ratio, because none of the known rules does not work the same way for an individual asset as mmuch as for each trader.
Simply saying, the traders use SL/TP orders to correctly leave the market at the right time. Most of the traders uses Stop-Loss orders in opposed to Take-Profit orders, as they probably feel them less necessary. However, in our opinion, this can be wrong, because Take-Profit orders help to avoid many problems and allow to save money in carrying out of the deals on a winning position.
Those traders use SL/TP orders, are not obliged to continue the trade, till the asset price reaches a predetermined level. Everyone is free to close the deal under unfavorable price movements at the market. Don’t let your emotions make decisions. Give it the right, cold and objective decision. Because doing it impulsive can be often the most devastating, leading to unreasonable losses. This unwritten rule works in the case of determination of ST/TP orders.
“General Risk Warning: Binary options trading carry a high level of risk and can result in the loss of all your funds.”
FX Options at IQ Option – Features and benefits
How to trade FX Options with IQ Option
1# STEP – Visit page https://iqoption.com/lp/ultimate-trading/en/fx/ (87% of retail CFD accounts lose money.)
2# STEP – Click the button – “Open your free demo account”account”account”
3# STEP – Fill in your email and password and click create an account
4# STEP – Congratulations, your account has been created. Now you can trade either with imaginary or real funds
The principle of trading FX options is very easy. First, you select a currency pair which you want to trade, your investment amount and an expiration time. Then you click on a strike price, this bar is located on the right side of the screen. Right next to the strike price bar is also situated a bar indicating how much profit you can make from the investment. After choosing your strike price you basically only decide whether the price of the asset will be higher or lower at the time of expiration.
FX Options in practice
FX Options – features
IQ Option now features 31 forex options that include forex pairs, indices and commodities (gold, silver, crude oil). If a trader chooses to get out of the position before the expiration date, he can prematurely close the trade to fix his profit or loss. FX Options do not fall under ESMA restrictions so they are unlike binary options available to EU traders. A great thing about this type of financial product is that the risk and potential profit of your investment is entirely in your hands and depends on the strike price and direction you chose.
IQ Option review – What to expect from the broker
We have tested one of the world’s fastest-growing online trading platforms, IQ Option. Keep reading to find out everything there is about the broker!
IQ Option offers a unique trading platform for FX Options and CFDs on forex, cryptocurrencies, stocks, indices, commodities and ETFs. Professional clients or traders outside the European Economic Area can trade there also binary and digital options. The CySEC regulated IQ Option company that allows real trading starting at $10 appeals to new and existing clients mainly with its ultimate trading platform, and competitive fees (spreads). New traders can set up a FREE Demo trading account at any time.
|General Risk Warning: 87% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.|
Basic information about IQ Option
- Trading instruments: FX Options, CFDs on forex, cryptocurrencies, commodities, stocks, etfs. Professional or traders outside EEA can also trade binary and digital options
- Minimum deposit: $10
- Minimum investment: $1
- Demo account: Yes, free of charge, reloadable. No deposit required.
- Methods of deposit and withdrawal: Skrill, Neteller, WebMoney, Bank Wire Transfer, Credit/debit cards
- Operator: Iqoption Europe ltd. (Cyprus). Regulated by the CySEC.
Unlimited Free Demo Account in 5 seconds
The most frequently used account when first trading on the IQ Option platform is the demo account. It allows you to test whatever you need – the platform, strategies, etc.. This account is cost-free, the broker does not require any initial deposit. Once you establish your demo account you will be provided with $ 10 000 play money to trade with for as long as you need since the demo account is not time-limited. You are also granted access to the broker’s extensive educational centre. I have exported for your convenience a registration form that can be used to open a free IQ Option practise account, here it is:
(87% of retail CFD accounts lose money)
Real Account can be opened with as little as $10
The IQ Option real account requirements are slightly different in comparison to the accounts of other brokers. The minimum deposit is as low as it can get – $ 10. The lowest possible investment is only $ 1, so if you wish to trade small amounts you are free to do so. The advantage of these very precisely adjusted investments is that you can easily follow your money management strategy which is very hard to do using other platforms that usually require a minimum deposit of $100, $200 or more.
International support, account currency, prohibited countries
IQ Option is an international company that opens its doors to traders from around the world. They provide support in the 14 following languages – English, French, Italian, Spanish, Portuguese, Chinese, Korean, Arabic, German, Turkish, Thai, Hindi, Urdu and Norwegian. On top of that, clients who choose this broker can finance their account not only in USD, GBP, or EUR, but also in: Brazilian Real, Malaysian Ringgit, Chinese Yuan, Indonesian Rupiah, Vietnamese Dong, South African Rand, Philippine Peso and Thai Baht.
IQ Option accepts clients from all countries with the exception of Australia, Belgium, Canada, Iran, Israel, Japan, Latvia, North Korea, Palestine, Russia, Sudan, Syria, Turkey, and the USA.
IQ Option Trading Platform – Basic information
The IQ Option trading platform offers a very fast, clear and modern solution for its clients. The trading platform can very well stand-alone as the only tool for your analysis as it features all the things a trader needs to have at his hand. That includes all the popular indicators (RSI, BB, Stochastic, etc.), graphical tools (trend, horizontal and Fibonacci lines…), historical quotes and of course a multi-chart layout. To stay up to date with the news, traders can use on the platform volatility alerts, market updates, stock screeners, calendars and newsletters.
Currently, there are over 110 video tutorials that traders can use to understand how certain indicators work or to watch the news. The broker also offers an Android/Apple application very similar to the computer version that you can download to your smart device. Regarding the leverage and spreads, they both differ depending on the traded asset.
Assets you can trade on the IQ Option platform
The IQ Option trading platform features a wide variety of trading instruments, these include FX Options, CFDs on forex pairs, cryptocurrencies, stocks, indices, commodities and ETFs. Clients who come from non-regulated countries (most countries outside Europe) or European traders that are classified as professional traders can also trade binary and digital options. The number of tradable assets tends to change as the broker frequently add new ones to the platform. As of now, there are 17 cryptocurrencies, 87 Forex pairs, 169 Stocks, 21 ETFs, 10 Indices and 6 commodities which can all be traded as CFDs.
IQ Option Chart analysis – Indicators, templates, lines
The IQ Option platform is one of the most sophisticated platforms for fundamental analysis out there. It features nearly 90 indicators and oscillators for you to use on the charts. They are fully customizable, allowing you to change anything from the period (the number of candles/bars on which is the calculation of the indicator based on) to the colour and even thickness of the lines. Some of the available popular indicators also include text or video guides on how to use them when trading.
Once you set to your indicators the setting you want to frequently use, you can create a template. By doing so, you will be able to quickly apply the template to any chart whenever you want.
In total, there are 4 chart types to choose from, the one that is set on default is the line chart. However, there is an option to switch to bars, Heikin-Ashi or to our favourite candlestick chart. Indicators and good-looking charts have their place in fundamental analysis. However, on the foundation of fundamental analysis stand lines that you can use to draw support and resistance levels, trends or other important lines. Fortunately, the IQ Option platform does not forget about graphical tools like basic lines, trend lines, horizontal lines, vertical lines or Fibonacci lines.
Timeframe on the IQ Option platform
To change the time frame of your graphs, you can choose from 18 popular time intervals. They range from 5 seconds to 1 month. There are 3 ways how you can set a timeframe of your chart. The first option is to click on a time period that is featured right below your chart.
Selected 1-hour time-frame
The second way how to choose your timeframe is to click on the time interval button that is situated on the left bottom of your chart. This option can be chosen only if you have a candlestick or bar graph, it does not work for the line chart. Here, you select what time interval should each candle or bar represent. So, if you choose 5 minutes, each candle/bar will represent 5 minutes of market movement. That means the chart at which you will be looking is going to show you the asset movement of the last 3 hours.
The third option is to just simply use the scroll wheel on your mouse. If you scroll up you “zoom-in” and the time-frame gets smaller. Guess what happens when you scroll down :).
Simple way to use multi-chart layouts
In case you want to monitor more than one asset at the same time, you can take advantage of the multi chart layouts that the platform features. Towards this purpose, use the chart layout icon that is situated right next to the IQ Option logo. Once you do that, choose a layout that you wish to use. To change an asset in your multi chart layout, just simply click on its name and select a different one.
Manage your risk with position auto-closing feature
The position auto-closing feature on the platform works as a stop loss and take profit. This tool can be set to a specific profit/loss amount, percentage number or asset price. When it reaches or drops to the figure you specified, the trade automatically closes itself. By using this feature you secure your positions and you know that you will not lose more money than you are willing (or secure your earnings). Recently, IQ Option also added to the trading platform “Trailing Stop” that makes your stop-loss dynamic. A position with activated trailing stop moves the stop-loss threshold up (in case of a BUY deal) or down (in case of a DOWN deal) if the market experiences a trend.
Trailing stop explained on a simple example – Let’s say you buy a stock (CFD) of a company called ABC for $10 and you activate trailing stop with a 10% stop loss. In case the value of the stock dips by 10% the position will close itself and IQ Option returns you $9. If, however, the stock goes up to $20, the trailing stop will come up along with it. Which means when the stock price is at $20, the stop-loss will trigger once the value of the asset is below $18. I would recommend trying this wonderful feature to anyone as it helps you to manage your risks even better than just simple SL.
Market analysis – News, Forex & crypto & earnings calendar
Doing your fundamental analysis is also possible with IQ Option as they feature breaking news and important announcements right on the trading platform. To access them, head to the left menu and click on market analysis. The news is sorted into 4 main categories and comes from high authoritative sources like Investopedia, Yahoo Finance, Forbes, CoinSpeaker and many others. By using this feature, you will never miss important news about the forex, stock, crypto or commodity market.
Leaderboard & Live chat with other traders
If you want to compare your success to other traders on the IQ Option platform, you can. The feature that allows it can be found in the left menu of the trading room and is called “leaderboard”. Here, you will see the gross profit that traders made over the week, the metrics include transactions executed only on real accounts.
A great thing about the stats is that you can monitor your worldwide position as well as the position you have in your country. Unfortunately, the feature shows only the gross profit which means you have no idea how much money the traders lost while achieving their rank. I, therefore, don’t find any special or deeper use for the IQ Option ranking system. It’s just simply a comely feature to look at for fun.
To connect traders on the IQ platform, the company, also created a live chat where traders around the globe share their ideas and achievements. Live chat with other traders is available to all users who have at least a trading volume of $300. There are few general groups that discuss basically anything, no matter the asset type or sector. Discussions on the theme of specific popular assets like Bitcoin, Microsoft stocks, gold, et cetera. are also held on the platform. Sadly, they just don’t have that many participants so don’t expect a big queue of pro traders waiting to spread their ideas.
Which is better? IQ Option web platform vs Windows, iOS and Android applications
The IQ Option trade room can be accessed either via the web-based platform or by using applications designed for Mac OS, Windows, iOS or Android. The web-based platform and Windows application look and function exactly the same. The only difference in the two is according to IQ Option in the speed of the platform which should be up to 5 times faster in the app.
On mobile devices, it is, however, a different story. While the basic functions like opening and closing positions work perfectly fine both on the web platform and Android/iOS app, the interface is not especially friendly on the web platform and operating with graphs is at best complicated. So, if you plan to trade on your smartphone I would definitely recommend downloading the IQ Option app, here is a comparison of the web-based platform and android application.
IQ Option trading hours
Almost no asset is tradable around the clock and some asset types can be actually traded only for a couple of hours during the day. To know exactly when you can trade your favourite asset, I advise visiting the https://eu.iqoption.com/en/trading-hours-and-fees page where this information is disclosed. Market hours of all assets are displayed in the UTC +1 time zone. That means if you are located e.g. in the UK, you live in a time zone that is not 1 hour ahead (UTC + 0) as IQ Option is. So, if you find in the IQ Option trading hours table that the Microsoft stock (CFD) can be traded on Monday from 15:30 to 19:00, you will be able to trade this asset when your clocks display 14:30 – 18:00.
IQ Option fees
It is crucial for each trader to understand what fees IQ Option charges. Unlike some other CFD providers, IQ Option has a no-commission policy, which means there are no fees e.g. for the execution of trades. What the broker will most likely charge you with is the spread and in certain circumstances with the overnight fee. There are, however, also 2 other fees, the inactivity and withdrawal fee. Now we will closely discuss each, so you could fully understand when the fees are charged and how big they are.
Spread for forex and CFDs
The spread fee is the difference between the price for which you buy an asset and for which you can sell it back. IQ Option spreads are not as competitive as at Plus500, but they are still fairly tight. The general rule of thumb is that the more popular asset you trade, the lower the spread is. You can find spread for each and every forex, cryptocurrency pair or stock… in the menu where you pick a new asset. The spread is there, however, displayed in percentage, so if you want to know how many pips the spread is you have to open the asset and have a look at the left bottom corner of the chart.
|Major currency pairs||EUR/USD||1 pip|
|Minor currency pairs||EUR/GBP||2.9 pips|
|Exotic currency pairs||USD/NOK||48 pips|
The data were taken on 28.11.2020 at 13:13 GMT+1.
The IQ Option spread is based on the current market conditions which means it changes in real time. The table above is to be used just give you a general idea where the spreads might hover.
The second expense is an ongoing fee and is charged to every position that is opened overnight. This fee is also known as the swap fee and at IQ Option it ranges between 0.003% – 0.015%, in extreme circumstances up to 0.6%. It is also important to note, that the swap fee is 3 times higher than the normal swap fee from Friday to Saturday. Up to date information regarding how big the overnight fee is for all assets and when it’s charged can be found on the page https://eu.iqoption.com/en/trading-hours-and-fees.
The third fee IQ Option charges whenever a user is inactive for a period of at least ninety (90) consecutive days. The charged amount is €50*. Be aware that they charge this fee each month once the account is not active for the above-mentioned time period. In a situation when there are not enough funds on the account to pay this fee, the inactive fee is not charged as your account balance cannot get into negative numbers. Remember, however, that if your account does not have enough resources to pay this fee and stays inactive for 12 months, they will charge a lower amount to cover administrative expenses and close the account completely.
In case you plan to take a break from trading on the IQ Option platform, I would advise withdrawing your funds, especially when there is no fee for almost all withdrawal methods.
The last, fourth, fee which you can encounter with is a withdrawal fee. This one, however, applies only to bank transfers and is 25€*. If you use other payment service providers such as the Neteller, Skrill or Webmoney, then no withdrawal fee is charged to your account.
*or equivalent of this amount in a different currency.
IQ Option leverage for Forex, Cryptocurrencies, CFDs
Each asset category can use different financial leverage. It also differs for traders from regulated and non-regulated countries (and professional traders). Here is a table describing the leverage (up to) of each asset category.
|Asset category||Regulated countries||Non-regulated countries|
|Major currency pairs||1:30||1:1000|
|Minor and exotic currency pairs||1:20||1:300|
|Indices||1:10 for HK 50, 1:20 for others||1:150|
|Commodities||1:20 for Gold, 1:10 for others||1:150|
The table was updated on 29.03.2020 for which it is accurate. As regulated countries are regarded countries from the European Economic Area.
Why is leverage different for traders from regulated and non-regulated countries?
The obvious question after going through the table above, right? Here is the deal. In the EU, all regulated brokers have to follow the new ESMA law which states the maximum leverage for each asset category a broker can offer. In non-regulated countries, a law that would set the maximum leverage does not exist and therefore the broker can make this decision on its own. We all know that leverage can multiply our winnings as well as our losses and because ESMA wants to at least somehow limit the risk that EU clients take, they established this law.
Where do I find leverage on the IQ platform? oh, Multiplier!
If you wonder where do you find leverage on the IQ Option trading platform, head to the main tab where you select a new asset, here if you choose e.g. forex you will see several currency pairs looking similar to this example:
Now, you might have noticed that there is no such thing as leverage on the picture above, that is because the broker calls it as a multiplier, but it is exactly the same tool.
IQ Option – Financing your account
Once you decide to trade with real money, you can use the following deposit and withdrawal methods when financing your account: Credit and debit cards, Neteller, Skrill, Webmoney, Paypal and bank transfer. In certain jurisdictions, IQ Option tends to support also some additional deposit and withdrawal methods which are popular in that given country (for example Advcash, WeChat Pay, AstroPay…)
Remember that the same method you use for your deposit also has to be the same one you use when you request a withdrawal.
I would personally advice using e-wallets for funding your account as there are no fees for both deposits and withdrawals + the deposits are processed instantly. Credit and debit cards are also a good alternative but remember that you will be able to withdraw to the card only the total amount of the deposits you made over the last 90 days. It is so because card withdrawals can be processed only as refunds. That means all amounts surpassing your deposits (i.e. your profit) has to be withdrawn to an e-wallet or via a bank transfer.
How to deposit funds
In order to deposit funds to your real account, you need to first go through the verification process (described in detail below). Once your account is verified you are all set and can deposit your desired amount. The minimum IQ Option deposit amount is 10 USD/GBP/EUR.
IQ Option has no deposit fee policy (no matter what deposit method you use). If you, however, deposit via a bank transfer, make sure you know all the fees that might your bank charge you with.
How to withdraw your money
The withdrawal process is pretty straightforward, you just enter the amount you want to withdraw in the banking tab when you are logged in your account. IQ Option charges no withdrawal fees with the single exception of a wire transfer. E-wallet withdrawals are processed in a couple of seconds, wire transfer and card withdrawals are processed within 24 hours. The IQ Option minimum withdrawal amount is $2.
IQ Option account verification
IQ Option is a fully licensed company and as such it must verify the identity of each user before he/she opens a real account. Regulatory bodies (like the CySEC or FCA) implemented this rule because people have complained in the past that brokers don’t let them withdraw their money (because clients did not submit required documents).
The good news is that you only do this once, and then all withdrawals and deposits are quick and easy. The broker has to verify both your identity and your residence, so they ask for the following documents:
- Identity card, national passport or driving license (to verify your identity)
- A household utility bill, such as gas, electric, water or landline telephone (but not a mobile phone bill), or a bank statement showing some transactions (to verify your address)
The document proving your address cannot be older than 6 months and your name, as well as your address, have to be clearly visible. If you have, for example, internet banking you will surely find there a statement which you can use to verify your address of residence.
In case you have decided to fund your account via a credit or debit card, you also have to submit a copy of both sides of the card. For your own safety, you are free to cover the CCV number (the three numbers situated on the back of your card). IQ Option needs only the first 6 and the last 4 digits of your card number.
The verification procedure takes 3 business days as the IQ Option support needs to check all submitted documents individually.
IQ Option history & When it all began
The founder and CEO of the company is Dmitrii Zaretskii who laid the first stone of the company in October 2020. IQ Option experienced consistent growth in the number of active clients and trading volume ever since. Here is IQ Option in numbers:
IQ Option Regulation
IQOption Europe Ltd is licensed by the CySEC under the license number 247/14, a regulatory body which ensures that the company follows all the Cyprus and European Union laws and regulations. Furthermore, IQ Option Europe Ltd. is also in the following registers:
- In the register of FCA (UK’s financial regulatory body) – Reference No. 670182
- In the register of Consob (Financial regulator of Italy) – Registration No. 0008204/15 (Press Ctrl+F and enter “0008204/15” to find IQ Option in the register )
- In the register of CNMV (Financial regulator of Spain) – Registration No. 3867
- In the register of Regafi (Financial regulator of France) – Registration No. 75119
- In the register of AFM (Financial regulator of Netherlands) – Please visit www.afm.nl
- In the register of ČNB (Financial regulator of the Czech Republic) – Please visit apl.cnb.cz
IQ Option customer service
In case of any enquiries, you can contact the IQ Option customer service which can be reached out via online live chat (24/7), phone or email. From my experience, I know that the support team replies always very swiftly so you must wait for your answer a maximum of 5 minutes (usually it is rather around 1 minute). Unfortunately, quite often the first guy that they connect me with is not able to provide me with the answer I am looking for. Which means that my questions are either too complex or that the first guy on the live chat is not very experienced. No matter which, I always get my answer even if it means I have to communicate with more people. So, I appreciate that they do everything that is in their power to help me.
The conclusion of our IQ Option review
IQ Option is currently one of the most popular companies among traders as it very recently welcomed its 35 millionth client. One of the biggest advantages that I see in IQ Option is that the trading risk is entirely in your hands. Firstly, it’s because you can use a free refillable demo account without having to make an initial deposit, and secondly, because you can create trades with just as little as $1.
On the other hand, each brokerage company has its drawbacks and IQ Option is not an exception. The biggest one I see is the number of stocks that the broker offers, which hovers around 170. In Comparison to Plus500 that has on its trading platform around 1 400, this is really quite low.
Final verdict: If you are looking for a safe option with a state-of-the-art trading platform, IQ Option is definitely a choice to consider.
I recommend testing the company at least via a free reloadable demo account that can be created within 30 seconds.
87% of retail CFD accounts lose money.
Your review can make a difference to other traders, please leave a comment if you have any personal experience with IQ Option.
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Good Broker For Experienced Traders!