IQ Option is a new trading platform that has recently gained popularity for the diversity of tools it features and its accessibility to newcomers. This trading platform lets you use CFDs on Forex, cryptocurrencies, stocks, commodities, indices and even ETFs. However, it's a CFD-based platform first and foremost. What does it mean? Well, allow us to explain, so you can understand how it works and read more about IQ Option in India.
What Is a CFD-Based Trading Platform?
CFD stands for Contract for Difference. This is a different way of trading than the classical method; even though the outcome is based on an asset's price changes, you don't acquire it. This simplifies the opening of a deal with a binary option: "Buy or Sell". When the trader chooses the "Buy" option, he predicts that the price will increase and vice-versa. This makes trading easier to understand for beginners and allows for a clear interface that anyone can understand. These are the basics of how CFD works, but we recommend you learn what CFD is in-depth.
IQ Option's Tools
Even though IQ Option is CFD-based, it doesn't mean you'll be limited to putting options on stocks, and the markets are varied, including the increasingly popular Forex, cryptocurrencies, commodities, ETFs and indices.
You can trade through the website or download IQ Option iOS or Android app. This app is an excellent tool allowing you to buy and sell on the fly. IQ Option also gives you a few handy tools to follow the evolution of your prices with custom notifications to alert you and technical indicators.
These indicators will help you to follow the evolution of the asset you're interested in, and it implements Twitter feeds from official sources like Bloomberg to allow you to make enlightened decisions. The analysis tools include moving averages, Bollinger bands, alligator, RSI, MACD, parabolic SAR, scholastic oscillators and awesome oscillators for a precise overview of the assets and their evolution.
IQ Option: A Growing Platform
IQ Option has grown extremely popular since its inception going from 965,650 users registered in 2014 up to 48,091,542 in 2020. Naturally, the number of registered trades exploded with an 800% increase during this period. To face this tremendous amount of operations, the platform put in place a quick withdrawal system, which can process any requests within 11 hours. Orders are also handled automatically, and you can perform operations in approximately 0.6 seconds.
Moreover, IQ Option has partnerships with Mastercard, Visa, RuPay, Skrill and Advcash, to name a few, which lets you deposit funds and withdraw safely and quickly. This platform was voted the Best Trading Platform of 2014 at the Forex Awards of 2014 and received an award of excellence in 2017, among other titles.
Another element that led to the popularity of IQ Option is the fact that it features video tutorials to assist newcomers and help them understand the ins and outs of online trading in a few minutes. However, if you feel lost at any point, you can contact a support team of 79 professionals via live chat or email. The live chat is intended to answer simple questions, and the average response time is 43 seconds; for more complex issues, the message should be sent to their email address, where the team can answer you within 20 minutes.
Is IQ Option the Trading Platform for You?
As you saw, IQ Options opted for a more accessible way of trading with CFD. This system reduces the risks while trading since you don't buy the asset but simply predict the evolution of its price. Moreover, this makes the interface more simple than other platforms with fewer options to choose from; you buy, or you sell, nothing more. This makes trading easier for people who want to learn it and place their money on a trustworthy platform. However, if you're already experienced, IQ Option can appear too simplistic.
The downloadable app is the biggest strength of this trading platform and offers the possibility to trade wherever you are, keep track of your investments and set custom alerts on your assets. The news feed will help you to stay informed on the market trend and world events that can make prices move.
The sheer number of assets you can follow and invest in is also astounding. You can invest in commodities, stocks, cryptocurrencies, EFTs, indices or Forex making it a versatile trading platform. If you're unsure about whether or not IQ Option is for you, you can also try it for free and try out all the tools they have to offer by simply creating an account.
It's important to note that trading is a risky activity, and profits are never guaranteed, so never invest funds you can't afford to lose.