Trading with IQ Option is really an excellent experience, as their platform is regularly updated to provide the best user experience.
At the moment, they are using 4.0 version. Our regular readers know how much we value whole page trading platforms, so they will understand why we were thrilled to use it during our iqoption review.
Actually, it is wrong to call IQ Option trading solution “whole page,” as it is just a part of the user platform solution that this broker offers. When users login into IQ Option they are immediately taken to the trading platform and all other links and tools are accessible from the left side menu. On the right side is the trading navigation pane where users can place trades while the center is reserved for the huge graphing tool.
Users can navigate using the menu on the left side – open positions, trading history, market news, video tutorials and other features are listed there. For instance, when you want to see your open positions, you can even list them by the type
- binary options
- crypto currency
- classic options (will be discontinued soon)
If you want to place a trade, the upper left corner shows the asset and below one can choose they type of the instrument. If you choose Forex, naturally only currencies that can be traded with Forex type of CFD contract will be shown. Accordingly the chart will show price development for the CFD underlying asset. If binary options are chosen, more assets will be available.
IQ Option Crypto Currencies Trading
In case of crypto currencies, one of 7 crypto currencies available to be traded by using CFDs instruments. Available cryptos at the moment of this review update were
- Bitcoin Cash
Graph controls need some time getting used to since zoom and move controls work independently. Analysis tools are a bit too basic for us coming from the Forex background, however, indicators are amazing and should be used regularly in together with technical tools.
Depositing and withdrawing panes are also part of the interface.
On the bottom part of the interface is the list of trades other users are entering real time. It can help users to gauge the direction in which the market is going even though it doesn’t aggregate the sentiment like the SpotOption platform.
IQ Option also offers a mobile version for users who want to trade on the go.
Asset list includes a great and numerous selection of assets, currencies, stocks and indices, in total over 500 underlying assets. This will be more than enough for traders to develop a diversified portfolio to withstand even higher market volatility.
IQ Option Forex and CFDs Trading
IQ Option is now also offering Forex and CFDs in addition to binary options. Both Forex and CFDs trading is one of the most popular way of participating in the global markets. IQoption CFD trading is probably less familiar of the two but both of these financial instruments have very strict licensing rules which have helped in creating an industry that is based on traders protection. With Forex being an exchange of foreign currencies and CFDs contracts based on the difference between the strike price and the closing price, these additions are complementary to binary options and are largely familiar to existing binary options traders. This way, with IQoption forex trading, this broker is working towards providing their traders with a chance to additionally expand their trading portfolio in a systematic and transparent manner.
Forex CFDs on IQ Option Platform
On the forex CFDs trading interface, setting the asset and choosing the strike price is done as described above. Naturally the trade buttons, that are placed on the right will now show buy and sell. Above the buttons one can select the amount to trade and the multiplier – the leverage. With IQoption, leverage is 1:300 max. Default setting is 1:50. Overall trading Forex CFDs on IQ option platform is simple. There is no negative balance that can be caused by leveraged instruments – this means that IQoption employs the negative balance protection with their CFDs.