Bitcoin (CFD) is available on the IQ Option platform for a while now. Today, we are going to explain to you how to trade bitcoin on IQ Option. We will also cover, what trading conditions IQ Option traders have when trading BTC with this broker.
IQ Option’s Bitcoin
In order to trade Bitcoin with IQ Option, you first have to open an account. It can be either a demo or a real account, with both account types you have access to BTC along with several other cryptocurrencies that the broker features on the platform. A demo, as well as a real account, can be opened by using the following link which redirects you directly to the IQ Option crypto section.
- Website: https://iqoption.com/en/bitcoin (85% of retail CFD accounts lose money.)
How to trade Bitcoin on the IQ Option platform
At IQ Option, you can buy the Bitcoin as a CFD product. Here is a guide on how to do just that:
From the main menu choose trading Crypto (CFD) and as the currency of your choice pick Bitcoin
Decide how much money you want to invest in Bitcoin
Select whether the Bitcoin price will go up or down
Once you create your trade, you can monitor it in the tab “open positions”. Bitcoin is the most popular cryptocurrency on the IQ Option platform. However, other currencies have also great potential. IQ Option offers now the following 9 altcoins: Bitcoin Cash, Dash, Ethereum, Litecoin, OmiseGO, Qtum, TRON, Ripple, ZCash.
Bitcoin leverage on the IQ Option platform
The available leverage at IQ Option differs on whether you are based in a regulated or non-regulated country. The general rule of the thumb is that European traders can trade 1:2 leverage, while traders from other jurisdictions can trade with up to 1:50.
IQ Option Bitcoin Spreads and overnight fees
The spread changes on Bitcoin at IQ Option according to the current market conditions and the selected leverage. As of now (02.10.019) it hovers somewhere around 2.5% per BTC coin. The overnight fee is on buy position -0.065% and on sell position +0.015%. IQ Option updates these fees every Monday.
85% of retail CFD accounts lose money.