How to Make Money from IQ Option for Beginner (Full Guide)
I was looking for how to make money from trading online for a couple of months. As a freelancer I was interested to find out more, so I was searching and digging way more to find how a beginner like me can make money from IQ Option.
I’m on my way to finding ways to make money from trading knowing that this field is full of risks and fraud. I Found many broker’s on the internet and after asking several questions to experts and friends in the field They advised me to use the IQ Option.
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The initial step I took was setting up a demo account, which was quite simple, and I accomplished that in no less than 2 minutes.
The second step was looking for materials « On the best method to make money from trading and reduce losses. Then, at that point, the last step was opening and funding a real account.
Before we proceed, let me provide you with a little knowledge of how I might interpret the entire Market.
What is IQ Option
IQ Option is a Forex, Crypto, Stocks, Commodities, Indices, and ETF trading platform. The platform currently has over 80 million registered users.It is known for its ease of use, We recommend it if you are a beginner you can’t just start with 10$
- Founded: 2013
- Demo: Yes
- Minimum Deposit: $10
- Trading Platforms : Mobile (iOS, Android), Desktop (MacOS, Windows)
- Payout: Max 95% (in case of correct prediction)
- Assets : Forex, Digital and Binary Options, Stock CFDs, Cryptocurrencies, ETFs, Commodities
- Deposit Methods: Credit Cards, Debit Cards, Maestro, Skrill, WebMoney, CashU, Neteller, and Moneybookers
- Withdrawals: Up to 3 Business Days (Credit Cards, Debit Cards, Maestro, Skrill, WebMoney, CashU, Neteller, and Moneybookers)
- Islamic Account : Yes
What causes people to lose money on the platform?
Before opening my real account, one of the questions I was trying to answer was « why do people lose money on the platform, » because the truth is, more than 90% of traders lose a lot of money on Treading whether in IQ Option or other broker’s.
As a beginner, I funded my real account after testing the demo for a full day to see if I may apply this same technique, I used on on the demo account to earn real money, since the success I made on the demo was quite good, because my progress on the demo was very good, and the tactic I was using was returning nearly 98.9% success rate, with only one loss out of 20 trades
I immediately opened a real account and began trading, but I lost my first, second, and third tard in a single day.
To be blunt, the biggest reason most people make a loss on IQ Option is due to lack of consistency and an absence of proper financial management.
1. Lack of consistency
Because I was inconsistent, I lost my capital. IQ Option, like all other binary option platforms, requires consistency; if you veer away from it, you will be unable to make any meaningful improvement. I’ll give more detail on this as we go along.
2. Inadequate financial management
I wanted to recover the money I lost in the first trade by over-leveraging in the second trade, and the same thing happened in the third trade until all of the money was gone.
3. Trading in multiple markets at the same time
While the market offers thousands of opportunities, most market participants move from one market to the next and open multiple trades at once. This always would seem to just be unnecessary, and it may lead to confusion in the long run.
Using IQ Option to Make Money
Making money from IQ Option would be both simple and difficult.
- Simple in the way that so many people make big bucks on the platform every day.
- Difficult in the sense that you could lose two out of every ten trades.
While this is true, it is always wise to only risk the sum you are ready to lose.
Below are a few steps that will assist you achieve market success.
1. Maintain consistency.
If you want to succeed in IQ Option, you must be consistent. As a beginner, the best part you can do for yourself is to stay focused on one market and master it before moving to another. Concentrating on a single market from the start will allow you to understand the market’s history and structure.
2. Use proper cash management.
Proper money management entails realizing how much you should risk on a single trade and learning how to better protect your capital.
Only risk the amount you are willing to lose.
3. Create a strategy.
Most traders fail because they are aware of multiple trading strategies and are unsure which one to employ when trading with a live account. It’s a good idea to create a strategy and test it on a demo account before moving on to your real account.
4. When first starting out, stay to one market.
As a newbie, don’t start making the mistake of jumping from one market to the other; instead, try to concentrate on one, grow, and understand it before branching out to other markets
Last Thoughts on how to Make Money from IQ Option
General Risk Warning : Please be aware that the company’s financial products carry a high level of risk and may result in the loss of all your funds. Never invest money which you are unable to lose.