Sourcing for online trading platforms to manage your financial assets? IQ Option has got you covered! It is a reliable trading platform that allows customers to trade various financial resources and instruments like Stocks, Forex, Binary Options, and Cryptocurrencies. It was kickstarted in 2013 by IQ Option Ltd and has been steadily gaining traction in the industry, boasting its sky-high 20 million global account holders. They also offer Islamic accounts that can be used by all UAE users. You can find more about the requirements for UAE users in this overview of the IQ Option platform by business24-7.ae
IQ Option’s headquarters is in Cyprus and is modulated in the EU by the Cyprus Securities and Exchange Commission (CySec), which are completely compliant with the ordinances put in place, and fully authorized to merchandise their products to clients in several jurisdictions.
What it offers
IQ Option is a user-friendly platform that facilitates trading and provides users with a myriad of alternatives. Previously only serving as a binary options broker, it has now expanded and included more options like Contracts for Difference (CFDs) on stockers, Exchange Traded Funds (ETFs), Cryptocurrencies, Forex, and other online options.
- CFDs on Stocks — the platform allows you to engage in trade with over 176 companies from all over the world, including the top successful businesses established on the NYSE and NASDAQ
- ETFs — ETFs are one of the newer products that operate by keeping tabs on commodities, assets, and indices. They essentially are traded in the same way as stocks do, and customers are able to pick from about 4288 different ETFs.
- Cryptocurrencies — Customers can trade 12 of the most popular cryptocurrencies that include Litecoin, Bitcoin, Ethereum, Ripple, Zcash, IOTA, Dash, Omisego, and Monero.
- Forex — Also known as FX Trading, it is one of the most well-known trading markets. IQ Option allows users to gain access to about 188 currency trading pairs, enabling you to trade in your favorite currency in a hassle-free way.
- Options — Users can speculate on the price points of various assets like stocks, indices, commodities, and currencies, giving you access to about 10 million options.
Order Types and Stop Loss Tools
Up to date trading platforms like IQ Options typically offer a variety of order types for users to choose from so as to allow them to alter their trading experience and set different functions to reduce the risks involved. They allow users to create trading strategies that are short-term, medium-term and long-term with different returns.
Some of these order types include Multipliers that provide you the option of increasing the return on investment and level of risk via a coefficient. This is considered an intermediate setting for users who are well-versed in trading since it can be quite risky. Stop-loss orders allow the alteration of maximum losses that you are comfortable with, which will automatically trigger the closing of the trade once that amount is reached.
Take profit orders inversely lets you set the desired profit margin, and will cause the trade to close down once the amount is reached. Trailing stop orders operate similarly to the stop loss too by using the auto-close function and will move along with the changes in price in the direction that you set. Last but not least, Pre-Order lets you indicate the price at which you want to enter the market, and will automatically put you in when the price is reached.
IQ Options also provide a range of indicators for you to take note of trends and better evaluate trades that may bring about higher profits for you. With the 13 different indicators via the charting interface, they can be used independently or concurrently to increase accuracy and maximize insights.
Some of these indicators include:
- Moving Averages (MAs) — they include Weighted Moving Averages, Simple Moving Averages, Exponential Moving Averages, and Smooth Simple Moving Averages which help you track the different averages to identify current trends for potential profit-maximizing trades.
- The Moving Average Convergence Divergence (MACD) — it reveals where moving averages converge and diverge, allowing you to clearly visualize the ratio between two Exponential Moving Averages.
- The Parabolic SAR — it is similar to moving averages but the position shifts based on the price, and it moves concurrently with higher acceleration.
- The Awesome Oscillator — shows a visualized ratio of two SMAs (Simple Moving Averages), one being slow and the other being fast, to help users see the progression and completion of new trends.
- Bollinger Bands — shows the dynamic bounds on price fluctuations.
- Volume Indicators — indicates the varying quantities of your picked asset over a specific period that were bought and sold, thereby also showing the interest rates.
IQ Option provides a mobile web trading solution on top of the mobile application, giving users greater flexibility in trading and spotting trends. The app provides a clean and chic interface with HD graphics and comprehensibility, making it user-friendly, with most of the charting options found on the standard platform as well. You can also switch on your push notifications to keep you updated on your trades even out of the app and allow users to set key trading levels to trigger alerts when they are reached. The app is easy to use on smartphones and tablets and is available to both Apple iOS and Android users.
If you reside outside of the EU, you are given the chance to test your skills against other trades by competing in various Binary Option tournaments. They are held quite regularly and last for about 30 minutes each, and require a small entry fee. Participants will be given $10k worth of virtual funds at the start and the winner who obtains the highest returns at the end will be given a reward.
The prize is either a fixed amount or altered according to the number of participants in the tournament, and allows you to win a maximum of up to 100x the entry fee per session. If users use up their virtual funds, they are allowed to buy in again and participate in the next tournament. However, users have to also bear in mind that they can lose their entry fees during the competitions. These tournaments provide an interactive and engaging way for trades to put their skills to the test, as well as pick up insights on trading techniques from other traders.
Education and Training Resources
There are also a range of educational videos and resources for both newbies and experienced traders to enrich themselves with, These trading videos, webinars, and tutorials equip users with basic and intermediate skills on trading techniques, which provides valuable information of varying abilities and experiences. There is also a wealth of e-books and FAQ sections that gloss over common questions and misconceptions.
IQ Option is a trustworthy and enriching online trading platform that allows both new and experienced traders to track trends and use financial assets to trade with businesses all over the world. If you are new to online trading, there are several e-books and videos for you to pick up skills, while experienced traders can take part in trading competitions to earn themselves some cash. You can find more information in this beginner’s guide to IQ Option by business24-7.ae. With the unique features and useful tools that IQ Option provides, you can now manage your financial resources with ease and allow your profits to roll in effortlessly.