Getting started on IQ Option
We are living in wonderful times, don’t you agree?
A number of opportunities presented to us at this time and age is at the history’s maximum and can hardly be compared even to the pre-internet era, which when you think about it, was a fraction of a century ago.
New technologies give us opportunities, that were only available to the selected groups of blue-bloods before, and trading was one of them.
Trading as a whole seems like a thing that has existed almost as long as humanity, but as a term in was coined very recently.
But even in the 20th century which certainly was not long ago, you had to have a great deal of education and some form of connections to be even let close to trading financial instruments.
As you already might have understood, now the things have changed, and almost everyone has access to the most advanced and complex trading tools.
Not only that, an average person with an internet access is now saturated with world news and has a much stronger bond and connection with everything happening in the world, than most of the traders from Wall Street in the 50-s, which certainly gives an edge, when talking about trading in our age of information.
Today we wanted to talk about what do you need to get started trading with one of the most renowned online trading platforms in the world – IQ Option. (RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK)
First things first
First off, we have to make a disclaimer, that trading is not suitable for everyone.
It requires a great deal of dedication and a will to improve. A comparison I personally like to make is that a pilot needs years of training in order to set his foot into the cabin of an actual aircraft, same goes for almost every other profession.
Obviously, trading can be your only source of income and it can in some cases become your profession, so don’t treat it differently from any other.
It requires practice and education.
Luckily, IQ Option (Visit – RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK) was one of the first trading platforms to provide its users with a completely free, unlimited and no-strings-attached demo account.
This concept revolutionized the trading industry since now almost everyone can try out his skills and see whether it works for him or not, where only 50 years ago you would have to go through who knows how many circles of hell in order to simply practice in trading stock.
Surely, you could learn from other’s people’s mistakes, but trust me, it is much more efficient to learn from mistakes of yourself.
In order to open a demo-account, simply click the “Sign up” button and enter all of the required information. You can also log in, using your Facebook or Google+ account. Don’t forget to accept the Terms and Conditions, which you can read, by clicking on the underlined text, and then proceed with finishing the registration.
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Right after that, you will go straight into the traderoom, but before that, you will be presented with a choice – whether to open a practice account, or start with trading real funds right off the bat.
We certainly recommend to start off with a practice account, since like it was mentioned before, trading does require skills and lots of practice, so luckily the practice account provides you with 10 000 virtual USD, which can be replenished any time by pressing the green deposit button in the top right corner of the traderoom.
You are now free to trade, and check out many trading instruments IQ Option has to offer, like binary options, Forex, Crypto CFD’s and more soon to come.
In order to get a grasp of how each trading tool works and to learn everything you need to know about the interface – head straight to tutorials, hidden in the “More” section.
Videos do a great deal of explaining almost every aspect of the platform, but if you have any choices that were not answered in the tutorials or the “Help” section, you can always contact a 24/7 customer service support, happy to answer all of your questions and support you in any way imaginable. You can contact them by writing a ticket, by clicking “Ask a question”, call to one of the hotlines, since a lot of countries have a toll-free support in their mother tongue.
You can check the hotlines here. RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK
Fundamental or technical?
Next thing you would want to know – is how do I trade?
No, let me put it this way – how do I trade successfully?
To be absolutely fair – nobody really knows. And this is not an investment advice, by any means. But what we do know – is that learning more and more is never a bad thing.
So, in broad terms, you can basically have 2 forms of trading – Fundamental and Technical.
The difference between them is that one model approaches trading analyzing technical indicators and the chart, and the other one monitors economic and worldwide news making predictions based on the current turns of events and companies performances.
Luckily, you don’t have to choose, since you have options for both of the approaches.
You can use the indicator button to gain access to the list of technical indicators.
If you understand the signals that combinations of these indicators provide, it might give you the edge in trading.
That’s why it is a great idea to learn how to use them. You can do it by contacting the support, watching the tutorial videos and by reading the official IQ Option blog.
This blog contains a ton of useful information both on technical and fundamental analysis. Here, you can find access to economic calendar, showing the most important upcoming events in economics, you can find articles on using indicators and advice for trading, and moreover, it is a daily updated journal, with news segments and articles on various topics in the world of trading. It is also available in multiple languages, so the blog is definitely worth visiting. RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK
Getting ready for real trading
Once you’ve learned most of the information you could get your hands on and spend a million or two of demo dollars, you might see the increase in your efficiency and profits.
It might make you think that you are ready for the big game, but in fact, most people have an easier time spending virtual cash, other than the real deal.
You tend to overthink every investment and worry more, it is just how our brain works.
But what you can do – is start with a small 10-100USD investment, to feel the thrill and see what it is like. Payment can be made with multiple different payment aggregators and they don’t have fees. Almost all deposits are processed instantly, so you will be able to start trading right away.
In order to withdraw your hard earned profits, you will have to go through the verification procedure. It is a standard practice in almost all financial institutions, and you will need to provide some personal information, as well as upload scans of some of your documents.
Some more useful information
Starting to trade and your first losses might be stressful. You don’t need to be alone in this journey, and you can share your experience, as well as discuss the process with your fellow traders in public chats.
There are different channels for different languages and topics, so you can always ask for advice and gather experience.
Moreover, after your first deposit, you unlock the online support button in the bottom left corner of the traderoom and you can receive answers to your questions in literal seconds.
It is important to mention, that all the investments and provided instruments are so-called “protected”.
This means that leverage role is being played by the multiplier, but you can never lose more, than your initial investment. Note, that you can use buyback feature on all the instruments.
Another way great to start is participating in IQ Option tournaments. RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK
They have a big prize pool shared between top 30 contendents. You simply pay an entry fee and once the tournament starts all participants start trading with the same amount of starting virtual balance. The trader who amassed the biggest balance by the end of the competition wins the biggest share of the prize pool. You get the idea. It is a potential of yielding big reward with a relatively small risk.
Some final thoughts
IQ Option (Visit – RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK) is a very good platform for novice traders and beginners. The demo account alone is the best learning tool you would ever need, but there is much more.
The support department is lightning fast and professional and you can learn a great deal from them.
And in a way a digressing thought is that IQ Option is really cutting edge, adding more and more cryptocurrency assets and instruments, and since everyone is only starting to get on the crypto hype train, even if you are a beginner, consider yourself to have a head start.
We wish you best of luck in your trading adventures and wish you only upcoming trends in your life.
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK
The Financial Products offered by the company include Contracts for Difference (‘CFDs’) and other complex financial products. Trading CFDs carries a high level of risk since leverage can work both to your advantage and disadvantage. As a result, CFDs may not be suitable for all investors because it is possible to lose all of your invested capital. You should never invest money that you cannot afford to lose. Before trading in the complex financial products offered please ensure to understand the risks involved.
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