In financial circles around the world, forex trading has gained widespread popularity as a trading option for traders, who now consider it a full-time profession. It offers an immediate path to anybody that wants to access the currency markets on an international level, and if done right, can reap the benefits in a very short period.
Of course, figures show that there has been a decline in the trading volume of the international forex market as compared to previous years, but this does not necessarily mean that there has been a decline in popularity. This is partly due to “accessibility” being the main reason, with a significant number of part-time investors and currency speculators joining in. However, just like any market once it becomes popular, the forex market is also littered with several get-rich-quick type frauds.
Many traders have lost fortunes falling victim to such cases of frauds and scams. Thus, it is important for traders to work with only the most reputed and regulated brokers in their area. For instance, in South Africa, the FSB of Financial Services Board is responsible for regulating the non-banking financial sector of the country, including forex trading. Certain brokers such as IQ Option, which are regulated by several international and national laws can thus be a good option for traders.
What is IQ Option?
IQ Option, also known as IQ Option Ltd, is a well-established binary options and forex online brokerage site offering trading services all over the world. With a firm focus on providing a platform attractive to both novice and experienced traders, IQ Option provides all the necessary charts, tools and educational materials needed for trading efficiently. They also provide specialized charts such as candle sticks and others that are not necessarily present in other brokerage sites.
Why Trade Forex at IQ Option (Pros)
IQ Option’s Forex trading services are a relatively late addition, as the platform was primarily concerned with Binary and Digital options. Citing the popularity in forex trading, IQ Option introduced forex trading, including all the major currency pairs available. There are certain advantages when it comes to IQ Option, which are highlighted below:
- Forex can be traded in several different ways on the platform. The manual mode is the most popular among users. Forex training materials are also provided.
- IQ Option provides a forex signals system, available either for free or at special prices.
- Robots are not allowed on IQ Option, making the platform a fair place for all traders.
- IQ Option provides users with a free demo account prior to trading with real money. This along with the free educational resources provide the perfect platforms for novice traders to practice and develop their skills. The demo account is also provided with virtual money, so traders do not lose real money while practicing.
- IQ Option is regulated by several regulatory bodies, including CySec. This gives traders a lot of confidence about the platform’s legitimacy.
- At IQ Option, traders have the option of choosing either Take Profit or Stop loss, which is not available in most other brokerage sites.
- Users have the liberty to choose the amount of money they want to gain.
If you are interested in checking more details about Forex Trading with IQ Option, please read https://www.iqoptionmag.com/forex-trading.html
Forex Trading requires a lot of skill, knowledge and technical know-how to trade effectively. Thus, it is always important to choose a brokerage that you can trust on. IQ Option is an example of a good platform that offers many benefits when it comes to forex trading. With a growing fanbase worldwide, the broker is arguably one of the most preferred online brokerage sites for forex traders.