Those of you who are new to trading are probably just as unfamiliar with all the brokers out there. There is now a plethora of choice available, which unfortunately means room for frauds and other unsavoury actors. There are, however, some examples of brokers that are doing things the right way, one of which is IQ Option. If this is the first time you have heard about IQ Option, then you are in the right place. Here we explain some key information to get you clued up, including what IQ Option is and how to get started with trading there. For the full review of IQ Option check this article here.
IQ Option in a Nutshell
Set up back in 2013, IQ Option is a brokerage which provides its users with a broad range of instruments to trade. These include digital and FX options (binary options are banned in the EEA), CFDs on stocks, forex, cryptocurrencies, and CFDs on ETFs, indices, and commodities.
You only need to deposit $10 to get started, with the minimum trade set at just $1. It’s a safe place to do that too, and there is something to be said for there being safety in numbers. Regulated by the CySEC (Cyprus Securities and Exchange Commission) and in accordance with EU law, the platform has around 72 million registered users.
How to Get Started on IQ Option?
Signing up is the obvious first step. That means providing personal details including your name, address, and email address, among other data, not to mention means of identification so you pass their know-your-customer (KYC) requirements. Once you’re set up, you can take full advantage of all the services available to you.
Your first port of call should be IQ Option’s demo account, so you can get used to contract-for-difference (CFD) trading if you are new to it. It is far better to get accustomed to a new platform in a safe environment where you are not putting any of your money at risk. Available on desktop or app, you get $10,000 of virtual money to play with, giving you plenty of scope to try out assets and which strategies to use.
Use the information resources available to you, starting with IQ Option’s excellent tutorial videos. They cover the following areas:
- Basics – covering FAQs about IQ Option
- Options Trading – educational content on everything you need to know
- FX Options – guides on a new way to trade currency options
- CFD Trading – tips and tricks on how to optimize your CFD trading strategies
- Margin Trading – understand how to use margin trading safely and effectively
- Technical Analysis – how to use technical indicators when you trade
- Fundamental Analysis – explainers on how to trade using the financial calendar and news as the basis
- Market News – real-time updates on the state of the world’s stock markets
- Crypto Digest – all the latest info on what’s happening in the world of cryptocurrency
- About Us – go into more detail about what IQ Option is and its role as a multinational brand
Next, check out the IQ Option blog. With blogs published once or twice a week, there’s a steady stream of high-quality content at your fingertips. Delve into the That’s Interesting section to read articles on subjects ranging from the Black Friday effect to how to choose the best trading strategy for your needs.
Another nice section focuses on Trading Tips. Their article on trading with the Elliott Wave Theory is a great way to unravel the complexities of this method. Market analysis is provided too, with subjects touching on which tech stocks are worth checking out and the influence of the US elections on the markets, to name but a few.
How Much Money Can I Make?
Well, the most important thing to realise is that you can lose all of your money if you do not take the time to do your research and understand your risk and trading strategy. Any gains you make on trading or investment are dependent on your approach and knowledge, not to mention luck. With so many variables in place, it is important to be comfortable with what you are doing – and that requires learning. Try to make as many mistakes as possible in the virtual trading arena to limit the chances of you getting into the red.
Check out our other articles on IQ Option to learn more.
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