How to be VIP at IQ Option
Professionalism in trading operations is honed with time, experience and knowledge - and makes successful business people with solid profits. Trading can be a sideline in your working life or become your primary profession. It requires financial and mental investment, the ability to compare risks with the expected result, and a desire to learn and improve all the time.
Becoming VIP in IQ Option
Interest in trading grew to cosmic proportions, and the number of people who invested in different assets is only increasing every day. However, traders know how difficult it can sometimes be and how much help they need. That is why the IQ Option VIP account was developed for traders.
How to become VIP in IQ Option? To open a VIP account, you must first register on the platform, which is a short and simple process. You can quickly start registering right now by clicking the button at the beginning of the article.
During registration, some personal information will be required to identify the user.
The following critical condition for those who want to know how to be VIP at IQ Option is the minimum deposit and monthly trading turnover.
Some of the IQ Option VIP account requirements may vary according to the country you reside in. To find out the exact conditions for your country, we recommend contacting customer support via live chat or sending an email.
What benefits does the VIP account bring to the trader?
Why do I need a VIP account?
1. Firstly, due to the VIP account, traders receive increased interest in binary options.
One of the significant advantages that VIP account holders have over other traders is the higher profitability of successful trades.
The increased profitability makes it easier to speed up the growth of your account. So even if you have loss-making trades, you'll find it easier to recoup your losses with a few profitable trades than a regular account holder.
2. Personal account manager for VIP accounts.
With a VIP account, you get a personal account manager. Your account manager will always be there to help you with any questions you may have. That enables you to concentrate on trading and get help from an expert.
3. Free Tournaments at IQ Option.
Another bonus for the VIP account holder is access to all the tournaments offered by IQ Option. In addition, you can participate in specific tournaments, which are not available to regular account holders.
Opening a VIP trading account can give you special privileges which you can use to increase your profits.
If you are an enthusiast, ready to go towards success, you can start trading right now for free.
What is a trading platform, and what is IQ Option?
What are trading terminals?
A trader in his work uses specialized software called a trading platform. With the help of the trading platform, a trader can access exchange assets, study the situation on the market and make transactions. The trading platform provider is a broker - an intermediary between the trader and the market.
A trading platform is also called a trading terminal in another way.
IQ Option is a trading platform where you can start your journey into the fantastic and deep trading world.
What are trading platform functions?
Traders use trading terminals to:
- Get information, namely quotes, that is, real-time price movements. This information is broadcast by the broker, which in turn receives the relevant information from liquidity providers;
- Analyze the market. The trading platform provides the trader with a set of tools (moving averages, lines, etc.) that can be used to analyze the price movement chart and draw conclusions about future changes. It is called technical analysis;
- Make deals. A trader opens and closes orders on the trading platform, makes pending trades, and other functions;
- Test strategies. The price movement history is stored on the platform. On charts showing price changes in the past, a trader can test strategies;
- Analyze trading results. A report is generated on the trading platform, in which you can see the number of profitable and losing trades, as well as other information.
What trading tools can you use to make money on IQ Option?
IQ Option offers you possible trading instruments:
- CFDs on currency pairs.
- CFDs on shares.
- CFDs on commodities.
- CFDs on cryptocurrencies.
- CFDs on ETFs.
What is CFD trading?
CFDs (Contract for Difference) are a popular form of derivatives. These are derivative financial instruments that allow you to trade assets on global markets without owning them. Typical examples of derivatives are options, futures or swaps.
With CFDs, you do not gain ownership of real assets. More precisely, you get the difference in the underlying asset price from the moment the contract is opened until it is closed. This closing date or contract expiration date is not fixed, distinguishing CFD contracts from other forms of derivatives such as futures. Your contract can be either short term or long term.
One of the benefits of trading CFDs is that you can speculate on price movements in any direction, up or down. But, of course, the profit or loss you make will depend on whether your prediction comes true.
Types of Assets
Let's take a closer look at the main asset types that can be traded on the IQ Option platform.
1. Currency pair is an alternative term for currency rates, i.e. the value of one currency expressed in another currency. That means that when referring to the euro-US dollar pair, traders and investors speak of the euro/dollar exchange rate or the price of buying the European currency against the US currency.
Major pairs are divided into forward and reverse pairs. Direct pairs are defined as those where the US dollar is the quoted currency, whereas inverse pairs are described as those where the US dollar is the base currency.
Please note that the quotation that follows the name of a currency pair always indicates the amount to be paid in the quoted currency to buy one unit of the base currency. Always one unit, for example - for one US dollar.
2. A share is a security that is issued by a joint-stock company, in other words, the issuing company. All investors who have bought shares have become co-owners of the company. A share confirms that its owner has a stake in the company, however small.
You can trade on the share price difference (CFD) of various global companies, such as Microsoft.
3. Сommodities are the oldest form of financial instruments. The commodity market is almost as old as human civilisation itself. Historical evidence suggests that rice may have been the first commodity about 6,000 years ago. During the Sumerian civilisation (4500 BC), people used clay tokens as a form of money to buy livestock.
Today, commodity trading forms the backbone of the global trading ecosystem. With the advent of online commodity trading, private traders have gained access to global commodity markets with a relatively modest capital. On the IQ Option platform, you can earn with CFDs on gold, silver and oil.
4. Cryptocurrency is any type of currency in digital or virtual form; cryptocurrency uses encryption (cryptography) to protect transactions. There is no central authority for issuing or regulating cryptocurrencies. Instead, a decentralised system is used to record transactions and issue new units. A wide range of crypto assets is available for trading on the platform.
The first cryptocurrency was bitcoin, created in 2009 and the most well-known today. Cryptocurrency trading is interesting from a profit perspective; there are periodic price spikes in cryptocurrencies due to speculation.
Tips for beginner traders
Trader confidence is not developed immediately and depends on several factors. Let's see what you need to pay attention to beginners at the start.
1. Define a goal.
Before you start trading on the stock exchange, you should determine for yourself the purpose of such an activity. That will determine how much time you need to devote to trading, what funds to invest, on which sites to work.
As a rule, the overall goal in trading is to make money. Therefore, a realistic and achievable goal that can be measured will explain actions in practice and the need for continuous learning.
2. Select a market and trading instruments.
Each market has its own positive and negative characteristics: trading hours, location and other factors. And before you start trading, you need to know the best tools out there.
For example, the American market is preferable for working with futures, while the European market is traditionally considered a stock market.
It would be best if you also decided what is closer to you - trading in stocks and bonds, operations in futures or the foreign exchange market. Where and what you plan to trade can significantly impact your success.
3. Choose the market and general analysis.
A personal summary of a novice trader includes statistics of entries and exits, maintaining positions, days of the best trading, working hours, and emotional state. All this is important to analyze and find errors. And then eradicate them and effectively use the accumulated experience.
4. Way of trading.
The main feature of the market is the constant change in the game's rules. Due to new economic conditions (mostly), the market is constantly changing. That is why it is better to use several approaches to trading.
5. The psychological state of the trader.
This item is the last one. But one of the most important. The trader always remains cool—no haste, excitement, greed or fear. Take care of yourself, and it will pay off. Rejoice in the profit after you have closed the terminal. It would help if you did not grieve about lost funds - find the cause of the loss and draw conclusions.
The trading of any successful trader is based on rational decisions (sometimes on intuition) but never on emotions.
6. Risk management.
Risk management is essential for every trade, regardless of market conditions or position size. You can use some tools to limit potential losses: Stop Loss, Take Profit.