How to Trade on IQ Option
Trading on IQ Option is relatively intuitive and the trading platform is very well designed. You will see the chart is in the center with buy and sell boxes to the right hand side. Your balance is displayed at the top along with any assets you are currently trading.
You can use the drop down located at the top left of the chart area to
choose which instrument to trade. The drop down contains FX Options, Forex,
Stocks, Crypto, Commodities, Indices and ETFs and from that you can then select
or search for your chosen asset.
You trade right from the Web Trader’s interface. To the right of the graph for your chosen asset, you will see options to buy and sell. You simply fill out the amount of the asset you wish to purchase and submit your order.
You can also place an order easily via the mobile application, and the overall setup is very similar. To the right of your chart, you will see the same options, with the ability to adjust investment, leverage, and price and then select buy or sell. For clarity, this section of the trading platform will also display the spread.
Users can also easily search for their favorite cryptocurrencies and analyze all of the most relevant and up to date information. In addition to offering Bitcoin and Ethereum, IQ Option also offers at least 10 other cryptocurrencies to trade. These include Dash, Ethereum Classic, IOTA, Ripple, Litecoin, and Monero.
You trade right from the Web Trader’s interface. To the right of the graph for your chosen asset, you will see options to buy and sell. You simply fill out the amount of the asset you wish to purchase and submit your order.
You can also place an order easily via the mobile application, and the overall setup is very similar. To the right of your chart, you will see the same options, with the ability to adjust investment, leverage, and price and then select buy or sell. For clarity, this section of the trading platform will also display the spread.
Users can also easily search for their favorite cryptocurrencies and analyze all of the most relevant and up to date information. In addition to offering Bitcoin and Ethereum, IQ Option also offers at least 10 other cryptocurrencies to trade. These include Dash, Ethereum Classic, IOTA, Ripple, Litecoin, and Monero.
Risk Warning: Your capital might be
at risk.
The interface also provides easy to find links to chats, trading
history, and customer support, and in the event of any issues, users can quickly
open up a dialogue with the support team. Another standout feature is the
resources section that provides access to training and education materials. A
number of short training videos are integrated into the site and traders can
access these resources without having to leave their training accounts.
The demo version of trading platform is also the same as the live
version, and traders can improve their skills by using the $10000 of virtual
funds that come with the practice account. Even if things go badly, these funds
can be replenished, giving traders a consistent pool of funds to practice with.
Order Types & Stop Loss Tools
As is expected of modern trading platforms, IQ Option gives traders a range of order types to reduce risk and customize the trading experience. The variety of order choices lets traders create strategies that are short-, medium-, or long-term and featuring a variable return. Multipliers let traders increase the risk level for an investment with a corresponding increase on the return.
Stop loss orders let traders set maximum losses that they will accept, automatically closing the trade if it is triggered. Take profits do the same thing but when the trade reaches the profit you specify. A trailing stop will lead to dynamic operation of an auto-close at loss, moving with the price in the direction the trader indicates. Purchase at preorders lets traders set a price at which enter the market.
To supplement the order types, IQ Option offers a range of tools for setting stops and take profits. While most brokers just let you select the asset price, IQ Option lets you set the take profit or stop loss at either a percentage, numerous loss, or specific asset price. There is also the choice to apply the dynamic stop loss or trailing stop and the ability to use the balance to keep a position open if it exceeds the stop loss.
Order Types
There are numerous order types available with IQ Option, with the specific types of order available varying by asset.
· Multiplier orders allow you to increase the return on investment and your level of risk via a coefficient. This is a popular tool among advanced traders, but it should only be used by those with experience due to the increased risk. When used properly, it can dramatically increase potential profits.
· Stop loss orders let you set maximum losses that you will accept. When this type of order gets triggered, it automatically closes the trade to minimize your losses.
· Take profit orders are almost the opposite of a stop loss order. You indicate the amount of profit you want to reach, and the order automatically closes when it reaches this point.
· Trailing stop orders build on the idea of a stop loss by dynamically using auto-close at stop. A trailing stop order will move with the changes in price in the direction that you indicate.
· Finally, a purchase at or pre-order lets you choose the price at which you want to enter the market. When the market reaches this point, the trade will automatically be executed.
Charting Tools
To ensure traders can get the most from the IQ Option trading platform, the broker offers a long list of charting tools that can provide insights and help clients craft their trading strategies.
Order Types & Stop Loss Tools
As is expected of modern trading platforms, IQ Option gives traders a range of order types to reduce risk and customize the trading experience. The variety of order choices lets traders create strategies that are short-, medium-, or long-term and featuring a variable return. Multipliers let traders increase the risk level for an investment with a corresponding increase on the return.
Stop loss orders let traders set maximum losses that they will accept, automatically closing the trade if it is triggered. Take profits do the same thing but when the trade reaches the profit you specify. A trailing stop will lead to dynamic operation of an auto-close at loss, moving with the price in the direction the trader indicates. Purchase at preorders lets traders set a price at which enter the market.
To supplement the order types, IQ Option offers a range of tools for setting stops and take profits. While most brokers just let you select the asset price, IQ Option lets you set the take profit or stop loss at either a percentage, numerous loss, or specific asset price. There is also the choice to apply the dynamic stop loss or trailing stop and the ability to use the balance to keep a position open if it exceeds the stop loss.
Order Types
There are numerous order types available with IQ Option, with the specific types of order available varying by asset.
· Multiplier orders allow you to increase the return on investment and your level of risk via a coefficient. This is a popular tool among advanced traders, but it should only be used by those with experience due to the increased risk. When used properly, it can dramatically increase potential profits.
· Stop loss orders let you set maximum losses that you will accept. When this type of order gets triggered, it automatically closes the trade to minimize your losses.
· Take profit orders are almost the opposite of a stop loss order. You indicate the amount of profit you want to reach, and the order automatically closes when it reaches this point.
· Trailing stop orders build on the idea of a stop loss by dynamically using auto-close at stop. A trailing stop order will move with the changes in price in the direction that you indicate.
· Finally, a purchase at or pre-order lets you choose the price at which you want to enter the market. When the market reaches this point, the trade will automatically be executed.
Charting Tools
To ensure traders can get the most from the IQ Option trading platform, the broker offers a long list of charting tools that can provide insights and help clients craft their trading strategies.
Candle charts are among the most popular for IQ Option traders. These candles indicate a period of time, with solid colors indicating volatility during the given period and points marked for the price at both the beginning and the end of the given period.
Hollow candles are similar. However, instead of always using solid colors, the positive candles are hollow and the negative candles are solid.
IQ Option also offers area charts that show the price in the form of a
line, complete with shading for the area underneath. Line charts are similar,
but the area underneath the line is not shaded.
Finally, bars, like candle charts, cover a period of time you specify. They indicate the prices at the beginning and end of the period but do so with vertical lines. There are complementary horizontal lines that display the prices at open and close.
Indicators
With the indicators on IQ Option, you can spot trends and better identify potential trades that will lead to profit. IQ Option offers 13 indicators that are available via the charting interface.
Finally, bars, like candle charts, cover a period of time you specify. They indicate the prices at the beginning and end of the period but do so with vertical lines. There are complementary horizontal lines that display the prices at open and close.
Indicators
With the indicators on IQ Option, you can spot trends and better identify potential trades that will lead to profit. IQ Option offers 13 indicators that are available via the charting interface.
Many can be used independently or together to maximize your results and
insights.
· Moving Averages (MAs) include Simple Moving Averages, Weighted Moving Averages, Smooth Simple Moving Averages, and Exponential Moving Averages. These can help provide insights into current trends and can be used with other indicators.
· The Moving Average Convergence Divergence (MACD) shows where moving averages converge and diverge, essentially visualizing the ratio between two Exponential Moving Averages (EMAs).
· The Parabolic SAR has a similar purpose to moving averages. However, the position changes based on the price and it moves in conjunction with higher acceleration. It shows up in a group of small dots.
· The Awesome Oscillator indicates a visualized ratio of two SMAs (Simple Moving Averages), with one fast and one slow. The indicator helps show new trends’ development and completion.
· Bollinger Bands are trend indicators showing a dynamic range for price movement.
· Volume Indicators show the quantities of your chosen asset that were bought and sold within a given period, indicating interest.
· The Alligator Indicator helps you assess market movement in terms of direction and assists with filtering Side Bands (no-trend periods). Overall, this indicator helps traders find emerging trends, and it is cross-functional.
· The Relative Strength Index (RSI) helps figure out a current trend’s strength, as well as potential reversal points. It compares asset price growth (absolute) with the total price reduction, showing it via a curve.
· The Stoch or Stochastic Oscillator indicators show a price’s current position in comparison to the extremes from your selected period. This is shown as a percentage and helps you determine likely reversal points.
· The Average True Range (ATR) displays a trading asset’s current volatility within your chosen period and determines the change rate of quotes.
· The Average Directional Movement Index (ADX) shows a trend’s strength before the price movement begins. It can also indicate potential market volatility changes.
· A fractal is a series that includes a minimum of five Japanese candlesticks, showing the local maxima and minima of price curves as well as market reversal points.
· Finally, the Commodity Channel Index (CCI) measures the speed associated with price movements. It helps traders determine upcoming market reversals and can detect extrema or assess a trend’s strength.
Additional Features
IQ Option places a good amount of focus on its users and the platform enables customers to trade with confidence by incorporating a number of features that greatly enhance the overall trading experience. These include:
Mobile Integration
IQ Option offers a mobile web trading solution in addition to a specific mobile application, which gives users greater flexibility regarding mobile trading options. The app has a clean, intuitive graphical interface and is easy to use; it also has most of the charting options found on the standard platform. The app also provides push notifications, and users can set key trading levels which result in alerts any time these levels are breached. The app works on tablets as well as smart phones and the platform is available to both Android and Apple iOS device holders.
Trading Competitions
If you are outside the EU, then Customers are provided with the chance to test their skills against other traders via a number of Binary Option tournaments. These frequent tournaments are usually around 30 minutes in length and require a small entry fee. After signing up, users are given $10k in virtual funds and at the end of the competition; the trader with the highest returns wins a prize.
· Moving Averages (MAs) include Simple Moving Averages, Weighted Moving Averages, Smooth Simple Moving Averages, and Exponential Moving Averages. These can help provide insights into current trends and can be used with other indicators.
· The Moving Average Convergence Divergence (MACD) shows where moving averages converge and diverge, essentially visualizing the ratio between two Exponential Moving Averages (EMAs).
· The Parabolic SAR has a similar purpose to moving averages. However, the position changes based on the price and it moves in conjunction with higher acceleration. It shows up in a group of small dots.
· The Awesome Oscillator indicates a visualized ratio of two SMAs (Simple Moving Averages), with one fast and one slow. The indicator helps show new trends’ development and completion.
· Bollinger Bands are trend indicators showing a dynamic range for price movement.
· Volume Indicators show the quantities of your chosen asset that were bought and sold within a given period, indicating interest.
· The Alligator Indicator helps you assess market movement in terms of direction and assists with filtering Side Bands (no-trend periods). Overall, this indicator helps traders find emerging trends, and it is cross-functional.
· The Relative Strength Index (RSI) helps figure out a current trend’s strength, as well as potential reversal points. It compares asset price growth (absolute) with the total price reduction, showing it via a curve.
· The Stoch or Stochastic Oscillator indicators show a price’s current position in comparison to the extremes from your selected period. This is shown as a percentage and helps you determine likely reversal points.
· The Average True Range (ATR) displays a trading asset’s current volatility within your chosen period and determines the change rate of quotes.
· The Average Directional Movement Index (ADX) shows a trend’s strength before the price movement begins. It can also indicate potential market volatility changes.
· A fractal is a series that includes a minimum of five Japanese candlesticks, showing the local maxima and minima of price curves as well as market reversal points.
· Finally, the Commodity Channel Index (CCI) measures the speed associated with price movements. It helps traders determine upcoming market reversals and can detect extrema or assess a trend’s strength.
Additional Features
IQ Option places a good amount of focus on its users and the platform enables customers to trade with confidence by incorporating a number of features that greatly enhance the overall trading experience. These include:
Mobile Integration
IQ Option offers a mobile web trading solution in addition to a specific mobile application, which gives users greater flexibility regarding mobile trading options. The app has a clean, intuitive graphical interface and is easy to use; it also has most of the charting options found on the standard platform. The app also provides push notifications, and users can set key trading levels which result in alerts any time these levels are breached. The app works on tablets as well as smart phones and the platform is available to both Android and Apple iOS device holders.
Trading Competitions
If you are outside the EU, then Customers are provided with the chance to test their skills against other traders via a number of Binary Option tournaments. These frequent tournaments are usually around 30 minutes in length and require a small entry fee. After signing up, users are given $10k in virtual funds and at the end of the competition; the trader with the highest returns wins a prize.
The prize can be fixed or be related to the number of people who entered
the tournament, and at best allows the winner to receive a payment of up to
100x the entry fee. If users deplete their virtual funds, they can buy in again
and continue to take part in further tournaments. This provides users with an
interactive way to test their trading capabilities as well as pick up new
trading techniques.
Please note it is possible to lose your entry fees when taking part in competitions.
Education and Training Resources
IQ Option also makes a wealth of data available for all its users, and the site incorporates training resources that can benefit both newer and more experienced traders. These include various trading videos, as well as webinars and tutorials. Users also have access to a number of e-books and an FAQ section that covers the most common questions. These training materials provide valuable information to for traders of different abilities and experience.
In Part 3 we will be looking at IQ Option Affiliate program and some other information.
Article Source: https://blockonomi.com/iqoption-review/
Please note it is possible to lose your entry fees when taking part in competitions.
Education and Training Resources
IQ Option also makes a wealth of data available for all its users, and the site incorporates training resources that can benefit both newer and more experienced traders. These include various trading videos, as well as webinars and tutorials. Users also have access to a number of e-books and an FAQ section that covers the most common questions. These training materials provide valuable information to for traders of different abilities and experience.
In Part 3 we will be looking at IQ Option Affiliate program and some other information.
Article Source: https://blockonomi.com/iqoption-review/
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