What is IQ Option?
IQ Option is an Options trading platform. The simple understanding of Options is that you only have 2 options. They are Higher/Lower (increase/decrease) in a certain period of time. If you choose right, you have money. If you choose wrong, you lose money.
This black or red game is well developed in the world. Just like Binomo or Olymp Trade, IQ Option offers a trading platform based on the price fluctuations of cryptocurrencies, popular currency pairs, stock index, etc. This is simply a game of probability with 2 choices. Either increase or decrease. You predict accurately, you have money. If not, you lose money.
But through times, IQ Option upgrades its system. In addition to providing Options platforms, they also let their customers trade Forex, stocks, cryptocurrency, commodities.
It’s like you buy shares of Alibaba, Apple or buy Bitcoin. But you only trade by the index, you do not actually receive the stock or Bitcoin. And when the index goes in the right direction, you can take profit.
This is very different from Options. Because you can actively take profits or cut losses as long as you want. As for Options, you must choose a specific time period to close your transactions.
Compare IQ Option with other Options platforms like Binomo, Olymp Trade
First, this is the oldest Options platform in the world, which are trusted by many users. In terms of rankings of financial websites rated by SimilarWeb, IQ Option is ahead of both Olymp Trade and Binomo.
If you want to become a professional trader who earns money regularly, then IQ Option is the best choice for you at the moment. The intuitive interface is very suitable for analysts with clear image quality and multiple indicators.
Disadvantages of IQ Option trading platform
What I hate most about IQ Option is that their Payout rate. Payout is understood as the rate paid to you when you win the bet. Example: Payout = 80% means when you bet $5, if win, you will get back $9. If lose, you lose $5. High payout is one of the ways for you to reduce the risks when trading Options.
But in IQ Option, Payout often fluctuates. There are pairs with payouts up to over 90%. But the price and candlesticks move quite deceptively. If you participate in the game, you will basically die immediately.
The second is the candle time period. While using the 1-minute candlestick chart, If I zoom in just a little bit, it will switch to the 2-minute chart. This does not matter if you trade Forex, buy/sell and hold positions. But if you trade Options at 1- minute expiration time, this is very annoying. It sometimes even make you trade in wrong entry points.
Who is suitable for IQ Option?
In the past, IQ Option was only suitable for betting lovers. They are interested in statistical probability and games of chance.
But now, if you are the person who is capable of analyzing investments, then you can also trade with the index in IQ Option. Cut losses or take profit depends on your intention. There is no pressure of time compared with trading Options.
Should I trade in IQ Option or not?
Whether you want to trade Options or Forex in IQ Option or not, the problem is your knowledge. If you only hear the commercial ads or someone that this is a way to make money fast and easy, then you will pay a very expensive price when participating in IQ Option.
Making money is a plan. It is not simply a photo or a clip. You have to plan in detail if you want to join. Learn knowledge> Demo trade > Combine knowledge and skills> How much money is enough when depositing > What to do when losing? All of this must be in your original plan.
Is it really possible to make money in IQ Option?
This question is the one you have to answer yourself. Because even if I answer that I made quite a lot when trading options or show my account, my money withdrawals, you also don’t believe it. You only believe when it is the money you earn and withdraw
If you have a question that Does IQ Option cheat traders? Keep reading this article: Is IQ Option a scam? Disguised gambling or multi-level marketing? Is there any way to always win in IQ Option?.