IQ Option Crypto (CFD) Trading

Crypto Brokers IQ Option Crypto (CFD) Trading

Popular broker IQ Option features cryptocurrency trading in its offer. Clients can trade either on a free demo account or on a real account from 10$. And because real trading is possible even with super small investments, traders are not required to buy the whole coins, but also only their portion. In exchange for 10$, it is for example currently possible to get 0.0023 of Bitcoin. Today we are going to have a closer look at what assets they have on the platform and what are the fees for cryptocurrency trading.

Web address: IQOption.com/crypto
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Risk Warning: Your capital might be at risk

OTN Tokens at IQ Option

IQ Option newly implemented distributing OTN tokens which you can receive by trading cryptocurrencies. OTN Tokens are received every Monday depending on your trading volume of cryptocurrencies in the past week, but if you have created at least one crypto trade, you will receive some small portion of them. They can be used for reducing commissions which broker charge on cryptocurrencies.

IQ Option – List of Cryptocurrencies that you can trade

IQ Option offers to trade 12 cryptocurrencies. Here is the list with basic information about them.

Bitcoin
This cryptocurrency probably needs no introduction. It is the first world’s digital currency. BTC is labelled as the absolutely most popular and expensive digital currency of the world. Price of Bitcoin has been growing at an incredible speed since the beginning of the year. So it no surprise that BTC at IQ Option is the most favourite cryptocurrency to trade.

Bitcoin Cash
Is a new cryptocurrency which was launched in August 2017. All investors who had Bitcoin at that time also received the same amount of BitCoin cash coins. This cryptocurrency instantly became a hit within a few moments. Now it has one of the highest market capitalization.

Ethereum
ETH is the second most popular cryptocurrency in the world. Since January 2017, the value of Ethereum has risen over 2,000%. This cryptocurrency is directly as well as indirectly supported by huge corporations such as ING, Intel, Microsoft, or J.P. Morgan.

Ethereum Classic
Cryptocurrency Ethereum Classic is a continuation of the original and successful Ethereum blockchain.

Litecoin
LTC is one of the first altcoins, which is very similar to Bitcoin in many ways. In what Litecoin however differs is the time transaction process which is 4 times faster than the one that Bitcoin has. They also contradict the number of maximum coins that can be mined out (LTC can have 4 times more coins). LiteCoin is one of the world’s 5 most popular cryptocurrencies.

Ripple
RPL can safely send any financial means worldwide for a cost price, no matter the size of the transaction. Cryptocurrency Ripple is used and supported by companies and banking institutions such as UniCredit, ReiseBank, Royal Bank of Canada. Ripple is even safer and cheaper than Bitcoin.

Dash
Also known as DarkCoin or XCoin is very similar to Bitcoin, but has a lot of additional advanced features. The two most important ones are instant transaction processing (InstantSend) and securing private transactions (InstantSend). Currently, it is one of the most popular Altcoins in which hundreds of thousands of people around the world invest and trade with.

NEM
This cryptocurrency was first publicly launched in March 2015. The NEM is, in some respects, very similar to BitCoin. But it also has many benefits, one of the most important ones is the process time of one transaction. With BTC, you need to wait approximately 12 minutes to settle the payment, but with NEM only about 30 seconds. These two cryptocurrencies also greatly differ in transactions fees. The average fee per transaction is for Bitcoin 5$, with NEM the fee is only about 10 cents for every sent 1,000$.

Other less popular cryptocurrencies offered at IQ Option which are yet making their way to become as popular as their colleagues: Bitcoin GoldIOTA, Monero, Zcash, Omisego, Santiment.

Spread on cryptocurrency transactions at IQ Option

IQ Option does not charge any fees for opening a crypto position apart from the spread. The spread that crypto brokers have is the difference between how much will one cryptocurrency coin cost you and for how much you can sell it back to the broker. How tight the spread is can be found in the main menu where you select the cryptocurrency which you want to trade. The spread is shown for a price of one coin. So the more one coin costs the bigger spread is displayed. If you have Bitcoin (current price of one BTC is 4160$) and the spread is 80$ and you will get for example only 1/20 of the coin, the spread for you will be 4$ (80:20).

Stop your losses, fix your profits

Very well known tools by CFD and Forex traders – Stop Loss (SL) and Take Profit (TP) are now featured on the IQ Option platform. Both of these tools will help you to manage your trades and their risks. SL will automatically close your trade when the price drops to a certain value that you set. TP will automatically close your trades when you make your desired profits. They can be set to a profit percentage, profit in money or asset price. These two tools are at IQ Option called “Position Auto Closing”, and they can be found in the right menu.

Visit IQ Option website

 

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Michael

Author: Michael

Hi, I'm Michael and my area of expertise is forex and binary options trading. I specialize in technical analysis, namely in chart pattern set ups. I educate traders of all levels and I believe that prerequisite to successful active trading is always knowing risks of the game. My most current interest lays in cryptocurrencies, especially in Ethereum and in decentralized applications. You can reach me at Michael@TradingBeasts.com or in the comment section under any article.



2 comments on “IQ Option Crypto (CFD) Trading

  1. Dear Michael,

    My brother and I have recently started involving ourselves in cryptocurrencies. We have recently invested a small sum of money in a
    trading website iqoption.com

    If you could help us we would gladly ask you a few questions.

    1. Is investing in iqoption a good idea in the first place?
    2. If we were to profit in any way in iqoption how would we sell our
    cryptocurrencies for spendable money?
    3. The Sell option in iqoption is a bit confusing. We are not sure how
    it works and if you could explain it to us it would be very good.
    (Clicking sell makes it want us to invest more. We wish to sell the
    currency in order to buy other currencies. For example, I want to buy
    Ripple currency which is currently way worth above what I paid for it,
    and my profit is up. By selling it then I would buy another currency.
    But the sell option does not allow us to sell or currency for dollars
    as we expected it would)
    4. If we have to somehow extract the currencies from iqoption and sell
    it via other trading sites how would we do it and where?

    Thank you in advance if you can help us. We would really like to get a
    bit educated about trading cryptocurrencies. Our current investments
    are no big impact and we do not worry too much, but we want to
    learn how it works before we get into it more seriously.

    Cheers, Arnes and Andrej

    1. Hello Arnes and Andrej,

      Thank you for your inquiry, I am happy to see that you use our web as one of the sources for your education. To answer your questions:

      1. For long-term investing, IQ Option is one of the best brokers, for crypto day trading there are better choices
      2. If you want to sell your crypto coins back to IQ Option, click on open positions and in the right top corner „Close“. You will then instantly receive your winnings.
      3. How is it confusing? When you click the sell option a new table opens where you have information how much current profit or loss you have. You can also close your positions with a single click. This feature can be activated in in the „sell option table“.
      4. If you want to do that you will have to sell all your current positions, withdraw your money and then buy it on other trading site.

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