Famous broker IQ Option known for its ultimate trading platform, a free demo and an extremely low minimum deposit of 10$ features CFDs on Forex, Stocks and cryptocurrencies. In this article, we are going to review all of these trading instruments.
As of today (26.11.2018), on the IQ Option platform, one can trade over 85 forex pairs, including major, minor as well as exotic currency pairs. The number of available CFD stocks to trade on the platform is now 171. They cover famous brands like eBay, Apple, FB, Google, IBM, Amazon, Microsoft and many others.
There are CFDs on (12) popular cryptocurrencies: Bitcoin, Bitcoin Cash, Ethereum, Ethereum classic, OmiseGo, Qtum, Dash, ZCash, Ripple, Tron, EOS, Litecoin
CFD Service. 76% retail clients lose money
IQ Option leverage – Forex, Cryptocurrencies, CFDs
For different asset categories have IQ Option different financial leverage. It also differs for traders from regulated and non-regulated countries. Here is a table describing the leverage (up to) of each asset category.
|Asset category||Regulated countries||Non-regulated countries|
|Major currency pairs||1:30||1:1000|
|Minor and exotic currency pairs||1:20||1:300|
|Indices||1:10 for HK 50, 1:20 for others||1:150|
|Commodities||1:20 for Gold, 1:10 for others||1:150|
The table was updated on 28.11.2018 for which it is accurate. *For Bitcoin, for Etherem and Tron 1:50, for rest of the cryptocurrencies 1:20.
Why is leverage different for traders from regulated and non-regulated countries?
The obvious qeustion after going thourgh the table above, right? Here is the deal. In the EU, all regulated brokers have to follow the new ESMA law which states the maximum leverage for each asset category a broker can offer. In non-regulated countries, a law that would set the maximum leverage does not exist and therefore the broker can make this decision on its own. We all know that leverage can multiply our winnings as well as our losses and because ESMA wants to at least somehow limit the risk that EU clients take, they established this law.
Where do I find leverage on the IQ platform? – Multiplier
If you wonder where do you find leverage on the IQ Option trading platform head to the main tab where you select your asset, here if you choose i.e. forex you will see several currency pairs looking similiarly like this.
Now, you might have notice that there is no such thing as leverage on the picture above, that is because the broker calls it as a multiplier, but it is exactly the same tool.
How to trade Forex with IQ Option
Stop Loss and Take Profit – Manage your risks
SL and TP automatically close trades whenever the price of an asset reaches a level that you specified. To find them on the IQ option platform, look at the right menu, right under the column where you type your investment amount. The tools which you are looking for are under “Position auto closing” tab. The trade can close itself when it reachea s specified profit percentage, a profit in money or an asset price. You can use stop loss and take profit at the same time, specify which conditions should be met for the trade to close itself.
Spread for Forex and CFD trading
Spreads at IQ Option are not as competitive as at Plus500, but they are still fairly tight. The general rule of thumb is that the more popular asset you trade, the lower the spread is. You can find spread for each and every forex, cryptocurrency pair or a stock in the menu where you select your asset (just like you can see in the EUR/USD asset information above the video). Now, the spread is on the IQ Option platform inpercantage so if you want to know how many pips the spread is you have to open the asset and have a look in the left bottom corner.
|Major currency pairs||EUR/USD||1 pips|
|Minor currency pairs||EUR/GBP||2.9 pips|
|Exotic currency pairs||USD/NOK||48 pips|
The data were taken on 28.11.2018 at 13:13 GMT+1.
The spread at IQ Option is based on market conditions, it changes real time. Use the table above is to just give you a general idea where the spread might hover.
Open your trade when it reaches a specific price
Do you want to open a position when a certain cryptocurrency, forex pair or CFD stock reaches a specific price? Then I have great news for you. IQ Option now allows that. Once you open more information about the asset you want to trade, head for the right menu where is located a small label “Purchase at” (under the “sell” button). This function will automatically activate when your determined price level is hit.
CFD Service. 76% retail clients lose money.