What is IQ Option and how does it work ?

Forex is the world’s largest foreign exchange market but small retail traders cannot directly participate in it. So in order to start trading forex at the biggest market, we have to use a forex broker who will be acting similar to a bridge between us and other forex traders worldwide providing with the currency & asset quotes ( Similar to a service provider ).

So in Forex, what you have to do is analyse and predict the outcome of a currency pair ( No specific expiry time for the trade like in Options ). Once your target price is reached, you can close the trade and take the profit. If the price does not reach your target, you will be risking only the amount invested for the trade but you can close it at anytime. So this is the big plus point with IQ Option specially for newcomers ! This advantage is only with IQ Option trading. So if you are using any other broker, it is highly advised to use stop loss commands accordingly to minimize the risk of losing all funds of your trading account.

How to register for free ?

You can register for free using the button below

RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

Then you will see a window as below one. Click on "Open Your Free Demo Account"

Then you will get a form as below one.  Enter your email address and a suitable password ( make sure to remember it )  Finally click on "Create An Account". Registration is done !

Once you download and install the application, open the trading application. You will see a window with a chart like below screenshot ( Incase the content on right site does not look like the below screenshot, please go to “+” plus sign shown on top of that window and choose EUR/USD or any currency pair from “Forex” section )

So now let’s see the useful features in the trading application and how to use each of these features

1- Choosing a Forex currency pair

You can choose any currency pair or asset under “Forex” or “CFD” by clicking “+” plus sign on top of the window ( EUR/USD, GBP/USD, USD/CAD, USD/JPY etc.. ). Then you will get a new chart based on that currency pair which can be used to view the price movement.

2- Your Profile

This section includes useful links to sections like "Personal Data", "Deposit", "withdraw Funds", "Transaction History", "Settings" and "Logout".

3- Demo and Live account switcher :

You can switch between Practice ( Demo ) and Live account at any time using this section.

4- Depositing Money :

You can deposit real money using this link and also you can easily topup the demo account too using this same link.

5 - Amount per trade

You can mention the amount that you are going to use for any trade here ( you can deposit 1 dollar onwards )

6 - Adjusting Level of profits

You can adjust the level of expected profits using "Multiplier" ( Higher the value, higher the potential profit as well as risk ). For now, you can use “ x500” as multiplier.

7 - When to close trade ( optional )

Using “Auto Closing”, you can specify values accordingly for “when profit is” ( eg : 40% ) and “when loss is”. So trade will automatically close when those values are reached. ( Optionally you can manually close trade at anytime without mentioning any of the two values )

8 - Chart type

You can choose the type of chart for trading. By default you will get an “Area” chart but this chart does not have much information. So choose “Candles” chart from it. It gives more information as well as make it easier for trading analysis too.

9 - Time of Candles

It will show the time of each candlestick. ( Please note that this button will be active only if you have chosen "candles" or "bars" using chart type ).Generally 1hr ~ 4hr times are good for analysis and trading.

10 - Chart Trend Lines

You can add "Line", "Trend Lines", "Horizontal Lines" and "Fibonacci Lines" to charts using this button ( You can use these stuff to draw guidelines to find Support zones, Resistance zones, , reversals etc.. )

11 Indicators

You can choose popular chart indicators ( SMA, EMA, MACD, Parabolic RSI etc.. ) as a helpful tool to make your analysis and predictions more accurate.

12 - Placing a “Buy” or “Sell” order instantly at current price 

You have to enter a trade using either buy or sell button. If you assume the price may go up ( from current price ) based on your analysis, then choose “Buy”. If you assume the price may go down ( from current price ) based on your analysis, then choose “Sell”

13 - Entering an order at a different price

When you click "purchase at" . You will see “Current” as price. You may change it to any other value to enter the trade at that chosen new value. ( Incase if you want to reset back to current price, you can choose "revert to Market Price" )

14 - Trading History

You can view the past trade results using "Trading History"

15 - More

You can get "Video Tutorials" and "Help" using it.( You will see a section saying “Tournaments” but it is not for forex but for optio,n trading )

16 - Customer Care

If you have any question or need any clarification from IQ support, You can easily send a message using this section.

17 - Number of charts per screen

Currently the screen shows only one chart right ? So using this button you can view multiple charts within the same screen

18 - Changing the current asset type / currency pair

You can change the existing asset type / currency pair shown using this button ( So that you do not need to open multiple charts ).

Also you will see many other features too in the application. So feel free to play with the application a bit more to learn about it in full during some free time.

How to trade forex using IQ Option Forex Trading Platform ?

Please watch the below video to take an idea about the process of trading