If you’re wondering if binary options trading can make money, we have to answer yes. IQ Option remains very strong in helping traders realize profits with less risks and a bigger chance of success.
Always remember that how much you can earn with binary option trading depends completely on your preparation and good judgment. IQ Option will however assist you as much as they can through its features, offerings and services.
1. Study historical quotes. On IQ Option, you can see historical data on currency trading and quotes for financial instruments. These contain information about the exchange rate of various currency pairs and additional financial instruments over selected historical periods. These previous rates and figures and how they performed in markets can be used to do technical analyses and test various strategies.
2. Free demo account. Traders should never dive blindly into trading without taking time to learn how it works. IQ Option’s free demo account allows you learn the ropes without risk. It’s a good idea to first get to know the platform, even though it is very user-friendly. You’ll be able to devise a trading strategy or multiple ones, and plan trades with the demo account so that you know exactly what you’re doing when you start trading with real money.
3. Market developments. There will always be market volatility and any event impacting the world will influence stock and share prices, and to currency rates. These could include popular product launches, corporate takeovers, disasters and conflicts. Dates for product launches of Microsoft, Google or Apple are for example known beforehand and the respective company’s stock prices often increase during or shortly after the launch. If you know previous stock market patterns of such major events, you could use the opportunity to make a trade, especially long term options which normally pay more.
4. Knowledge base. IQ Option’s website provides many training aids, including insights from trading experts and financial analysts, comprehensive FAQs and videos showing trading strategies and how the platform is used. Use these to equip yourself properly before making your first trade.
5. Trade prudently. You should never make a big investment in the hope of striking it rich on the first trade. Always keep in mind that this is investment and having a gambler’s mindset will set you up for big disappointment and even bigger losses. It is prudent to begin with small amounts that are more manageable and, once you have enough knowledge about trading patterns and price trends, aim for sustainable successful trades.
6. Short term trades. Although a long-term trade pays more, short ones like the turbo option of 30 or 120 seconds expiry times offered by IQ Option can make money for you much faster. Once you have gained some experience with longer term trades, you could decide to try trading for shorter terms. It does however carry more risk as you won’t know about any news events that could influence asset prices with very short expiry periods. You should rather use various assets’ charts to spot trends or use other strategies like the “Bollinger band” or “Candlestick” to help identify trading opportunities that could be profitable with a short term option.
7. Affiliate program. IQ Option has one of the most profitable affiliate programs in the industry. You can use this to earn without trading by inviting potential investors and traders to join the IQ Option platform.
8. Withdrawals. Always withdraw money in small amounts. While you could withdraw winnings of up to a $ 1million with IQ Option, don’t wait for it to get to huge amounts before withdrawing and transferring it to a bank account. We recommend that you withdrawals smaller amounts frequently, as this will not raise any alerts with your bank.
Should you be thinking about trying binary option trading as an investment, we highly recommend using IQ Option as your entry point. If you’re already an experienced trader, you’ll understand the benefits IQ Option will give you. Using this broker will enable you to manage risks, gain the knowledge you need, and the opportunity to make profitable trades, eventually leading to you growing your investment.
Investments always have certain risks, especially the ones where you trade in a volatile market. The risk levels will vary and you should know beforehand that the risk with trading binary options is very high. In spite of this, a huge number of investors globally trade binary options as it can bring huge rewards, providing the trading is done properly with the right mindset, consistency and preparation. IQ Option can’t promise that you’ll make a profit every time when trading binary options while using the platform, but when using IQ Option the risks will be mitigated to a large degree, while the potential of profiting from your investment is real. It is for these reasons that IQ Option has 17 million traders using their platform.