How to start trading with forex IQ option binary option?

Nancy parez · June 21, 2021

Before going into iqoption, it is important to understand (at least in general terms) what Forex is, why it exists and why it is necessary.

The term “Forex” is short for foreign exchange and it is often referred to as simply FX. The foreign exchange market is the largest and most liquid market in the world. It is decentralized: it is not just one place, but rather a system of stable economic and organizational relations between banks, brokers and individual traders with the goal of speculation on foreign currency (buying, selling, exchanging etc.). The reason for forming one global currency market is the developing national currency markets and their interaction.

What is a currency pair?
In the currency market, two currencies are priced in relation to each other to form a currency pair, for example, the EUR/USD (the euro versus the U.S. dollar).
The first currency in this pair (EUR) is the base currency and the second currency (USD) is the quote currency.

When a trader buys the EUR/USD currency pair, he essentially buys the euro against the dollar. This is called a long position on the EUR/USD.
If he sells the EUR/USD currency pair, he buys the dollar against the euro. This is called a short position on the EUR/USD.

When a currency pair is bought, the base currency is bought, while, at the same time, the quote currency is sold. When a pair is sold, the base currency is sold and the quote currency is bought at the same time.

Trading Forex on IQ Option’s Platform
IQ Option’s multi-asset trading platform can be accessed not only via web and desktop apps but also through Android and iOS mobile applications. Let’s see which forex pairs are available and how to execute currency trades on IQ Option’s trading platform.

here are the 9 tips to trade Forex on IQ OPTION:
Essentially, Forex is a liquid market of currency pairs that react to global news, events and economic policies. This world-renowned trading tool is now fully accessible on the IQ OPTION, traditionally undergoing several improvements.

Trading Forex on the IQ OPTION platform, a trader has several advantages:

1. Never lose more than what you’ve invested in one position (Protected CFD)
2. Unlimited profit
3. Real-time forex news and analysis at the highest level while making it accessible for less-experienced traders
4. Trading on the most liquid markets in the world
5. Top currency pairs
6. 24 hours a day, 5 days a week
7. Free reloadable 10,000 EUR/USD Practice account (depending on the currency of your account)
8. 1:300 leverage available
9. Tight spreads, no commissions.

If you want to learn more, visit here.

https://iqbroker.com/lp/ultimate-trading/en/?active=forex2&aff=122427&afftrack=forex