Most traders are worried that IQ Option broker might manipulate prices on the night of Tuesday (Nov 11). At that time, a lot of long shadow candlesticks abnormally appeared. Comparing to other trading platforms such as Olymp Trade, Binomo or even MT4, it is obvious that IQ Option manipulated prices by creating unusual candlesticks.
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Why did IQ Option obviously manipulate prices?
Unlike other trading platforms such as Binomo or Olymp Trade, these platforms allow traders to trade on their websites. IQ Option is a trading application which traders can use both in smartphone and PC. It gives traders the opportunity to use auto-trading software (options robot).
In options trading, emotion is the advantage that helps brokers make money from traders. However, when traders use options robots, emotion does not involve in the game anymore. As a matter of fact, brokers lose their money to traders.
Therefore, brokers manipulate prices in a short period of time, like what IQ Option did on the night of Nov 11, in 3 hours (from 8 pm to 11 pm).
Experience in realizing when options platforms are manipulating the price
The price goes sideways and 2 or more candlesticks appear without following any color pattern
There’s hardly a period of time when prices go sideways and 2 or more candlesticks appear without following any color pattern. This means that there’s no fluctuation in 2 minutes. Doji candlesticks may appear continuously. But prices never stay the same in 2 minutes or more. You should remember the price in trading platforms is set based on international price movement.
Serial long-shadow-candlesticks
The appearance of long shadow candlesticks is not strange. However, long shadow candlestick only appears at a special place. Such as support/resistance zone, the price zone which is outside Bollinger bands.
Long shadow candlestick means that the market does not accept the closing price. Because buyers and sellers are still in the middle of a bidding war. The appearance of long shadow candlesticks when the market is not volatile is abnormal.
Price movement is slower or inactive compared to other platforms
When you observe other platforms such as MT4 or use Tradingview to buy options in IQ Option, you may spot that price movement IQ Option is sometimes slower than itself in other systems. That may be the time that the broker takes action.
If you wonder why the price varies in different platforms, this article may help you. Why price movement is different amongst platforms such as Binomo, Olymp Trade, IQ Option?
What to do when discovering that the broker is manipulating the price?
If you buy an option and then lose, maybe that is the fault of the broker. In that case, you should gather evidence to prove that you lose your money because of price manipulation. Then you send to IQ Option support team. They will refund the money to you.
If you spot the price manipulation when you are about to trade, you should stop trading and find a more suitable time to make money. When there is any sight of market manipulation, you have no chance to win. Thus, you should do nothing so that your emotion will not be affected by the broker’s manipulation. That’s it!
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