A lot of Nigerians and our readers around the world write to us frequently, constantly asking for reliable ways to make income online. We understand that what we write here means so much to you. That is why we ensure we only put up reliable options here. This article will explore one of the biggest platforms online, IQ Option. If you follow this guide, you should be able to get started and possibly be on your way to creating a new stream of income online.
WHAT IS IQ OPTION?
IQ Option is a trading company based in Europe founded in 2013. They offer various online trading opportunities and products including Contracts for Difference (CFDs). The platform is widely known for CFDs trading, Forex, Stocks and Cryptocurrencies. The platform is duly registered and regulated in Europe as IQ Option Europe Ltd.
Currently, they are arguably the most popular CFDs trading platform in the world. While there is a huge risk involved in trading CFDs, IQ Option have put measures in place to help its users succeed. You can also do Forex trading on IQ Option. Trade Cryptocurrency and Stocks.
If this is your first time of hearing about CFDs or you have come across it but unsure what it means, we will explain in the simplest way possible.
Notice the green dot line that cuts across the middle. That signify the point this trader started this particular trade. From that point, anything above that line means price are up, anything below means price are down. If she predicted price to go up, anything above that line earns her profit. If she predicted price to go down, anything below earns her profit. In this case, she predicted price to go up.
IS IQ OPTION RELIABLE AND WHY SHOULD YOU CONSIDER IT?
Here are the reasons why we think IQ Option is reliable and reasons we recommend it:
- IQ Option is registered and regulated. They are registered in Europe as IQ Option Europe Ltd where they are regulated by the Cyprus Securities and Exchange Commission (CySEC). In Seychelles, they are also registered as IQ Option Ltd.
- They are part of several European regulators such as the UK Financial Conduct Authority (FCA), the Italian Consob, the German Federal Financial Supervisory Authority (BaFin), and the Spanish CNMV and many more. This means that they have to be accountable. It also means that if you have any issues with them as a trader, you can sue them or write a complaint against them. They cannot do as they please.
- As at 2018, they have over 41 million registered users around the world!
- The average trades per day is over 1 million
- Traders on the platform on average withdraws over $24 million every month
- They are very popular with an Alexa rank of 700, the highest ranked trading platform in the world according to Alexa, which is owned by Amazon.
- The platform is used and utilized in up to 178 countries
- The platform enjoys good rating from experts. Finances online gives it a rating of 8.5 out of 10 and user satisfaction at 99%
- They have instant withdrawals that means you can withdraw in 1 day
- This platform has received numerous awards. Over 20 prestigious awards including a 2017 Excellence award and in 2015 for the best mobile trading platform.
IS IQ OPTION AVAILABLE IN NIGERIA AND OTHER AFRICAN COUNTRIES?
Yes! It is. They are global and have always been available to Nigerians and Africans. But they want to take things further.
IQ option have recently launched a drive into the African market to empower Africans make money from its platform. This expansion will make it easier for Africans to use its platform without stress. They want to directly connect with the people here.
Nigeria is currently the biggest economy in Africa and the largest market with 1 in 5 Africans being Nigerians, and you can be sure that the company understands and respect the country.
In the course of writing this article, we reached out to the company. And we could verify from a top source that they working on many ways to localize the company in Nigeria.
In the nearest future:
- Naira will be added to the platform.
- A customized landing page will be made for Nigerians
- A lot of Nigerians will be empowered with unique contents and information to succeed
- And many more localization.
In South Africa, these things have already been done. It will reach many African countries.
That being said, even right now, you can still trade and make money with IQ Option. The earlier, the better. Because you have to time to learn from demo and have a winning strategy. You can start today by clicking here.
HOW TO MAKE MONEY WITH IQ OPTION TRADING PLATFORM
Follow these steps to make money with IQ Option:
1. SIGN UP
The first step you need to take to make income on this platform is to register. You can click here to register. Registration is easy. All you need is your email, username and other basic information to get started.
2. DOWNLOAD APPS
You can do all the trading with your phone. You do not need a computer. If you wish to use your phone, you will need to download the apps. There is app for Android and iOS phones. First you need to create an account here. Once you have registered, scroll to the bottom of the page and download app. If you prefer to use the computer instead of app, you do not need to download app.
3. PRACTICE WITH YOUR DEMO ACCOUNT
Once you register, you will be given a demo account with up to $10, 000 in it. This is for you to practice with. Use it to learn how to trade and get some experience. With it, you can practice enough and develop your strategy.
4. DEPOSIT CASH
Once you have practiced enough with the demo account and you are ready to make money, just deposit money into your account. You can deposit as little as $10 (₦3600). With that you can start trading! The easiest way to deposit money is to use your debit card. Your ATM MasterCard and Visa card is accepted. Just click on deposit, pick a payment method, how much you want to deposit and enter your card details.
5. START TRADING
Once your count is funded, you can start trading. All the things you have learnt with your demo account, you can now put it to practice. On the website or app you will see Trade. Click on it and pick what you want to trade. Options, Forex, cryptocurrecny and commodities. If you want to focus on forex trading then click here.
Click on trade and you will see options. From here you can decide to do Forex trading, Options, cryptocurrency and stocks
6. WITHDRAWING YOUR MONEY
Money withdrawal is very easy. There are many options such as Skrill, Transferwise, Bank transfer and more. Depending on your bank, it will take between 1 to 9 days for money to get into your account when you withdraw. As soon as they are ready with the Nigerian solution, this process should be faster. We advice you to withdraw your money in smaller amounts. You can withdraw up to $1 million. But we do not advice you to wait till you accumulate that much. Start withdrawing as you earn regularly.
7. JOIN THE AFFILIATE PROGRAM.
You can also join the affiliate program. You will be given a link to share with your friends. As they sign up, you will make a percentage for it. Click here to join the affiliate program.
TIPS TO BE SUCCESSFUL WITH IQ OPTION
Trading in any online trading platform is risky that is why it is also very rewarding. When there is a big risk involved, the reward is always huge, sadly, the loses may also be huge too. Because of this, we MakeMoney.ng recommends the following tips:
TRADE WITH SPARE MONEY
Do not throw in your whole earning into trading. That will be very foolish. Rather be realistic. Use money that you can afford to lose.
For example, if you earn ₦50k a month, you can decide to set aside ₦5k for trading. Have a plan to trade with spare money and stick with the plan.
While you can make so much money trading with IQ Option, you need a lot of patience too. The most successful traders are those who have traded for a long time, learn the trade and developed their own strategy.
It takes patience for you to trade enough to understand how the market works. Best time for you to enter and exit and so on. Your first 3 trade maybe bad but the fourth could be your breakthrough point
Self-control is very important if you must be successful with IQ Option. You have to be disciplined. Because you feel surge of emotions or optimism at a point, should not make you risk your savings on a trade.
Don’t trade many times a day because you want to hit it quick. Don’t throw in all your savings in one trade. Be able to control yourself. And stick to the amount you have planned to trade with.
DEVELOP YOUR STRATEGY
Use your experience to develop a strategy. It is commonly said in Nigeria and around Africa that “experience is the best teacher.” As you trade, take note of everything. And from it develop your own trading strategy. Like how much to trade, how many trades a day, when to trade and so on.
READ HISTORICAL DATA
You can find historical data on trade items on IQ Option. You can see how currencies or any asset performed over a period of time. Studying this will help you make better trade decisions.
CONSUME HELPFUL INFORMATION
IQ Option provide various information to help traders. You can find this information on the website. There are videos, written contents and many more. Consume as much as you can. This is an investment; you need every knowledge available.
Now you are an investor. You need to watch out for information that can impact your business. Follow the news and stay alert. A natural disaster can impact how you trade. A conflict has the ability to impact trades.
REMEMBER YOU ARE AN INVESTOR NOT A GAMBLER
As a trader, you are an investor. You are investing money; you are not a gambler. Don’t trade lie a gambler but like an investor. Traders are investors. Read and follow the news, understand how currencies, commodities and stocks are performing. It will not take your time. Follow experts. Study the market. Stay alert! People make huge money from this. It all begins when you see it as an investment.