What is a Demo Account?
In the IQ Option demo account, you can carry out trading operations just like in the real account. The main difference is the lack of real money in it. This means you don’t have to pay anything to anyone. The IQ Option platform itself needs no introduction: it has established itself at the highest level and has received many different awards during its existence.
A demo account is an exact copy of a real account, but only with virtual money.
How does the demo account work?
What are the advantages of a virtual account for beginners:
- The ability to learn the basics of trading: what is an order, charts, ticker, quote, etc.
- Familiarize yourself with the trading mechanism under conditions close to reality. In short, to understand where to click, what options are available in the trading terminal, etc.
- Train your emotions, because in trading you do not need to worry about the risks of losing money, worry when quotes fall. Calmly, without panic, you can try different trading approaches and choose the best portfolio for you with an acceptable level of risk.
- Get to know the interface of the application, the trading terminal.
Try free virtual trading, it’s easier than you think! Use the IQ Option demo option!
How to register an IQ Option demo account?
To start using an account of this type, go through the IQ Option demo account registration, it will take a few minutes:
- Enter your email and then a secure password.
- Confirm your agreement with the terms of use of the platform. Click «TRY IT NOW».
- The system will offer you 2 accounts: IQ Option demo account and real account. Choose a FREE demo.
- The system will automatically credit you €10,000 virtual, use them for the first transaction!
How to use a demo account?
Real practice will help you prepare for serious work so you can learn to make profitable deals in the shortest possible time and not lose your capital. Simply use the IQ Option demo account login to quickly enter the terminal and train at any convenient time.
Thus, you can familiarize yourself with the platform where you will later carry out real transactions. The platform is quite easy to use and intuitive. The main elements are concentrated on the edges of the chart. On the left side, there are icons, by clicking on which you can see the history of your trading, market news, etc.
Below are icons for selecting the type of chart, graphic tools, indicators, and time interval. At the bottom, there are functions for setting up the chart. The right panel is designed for trading operations.
You will be able to use and test the following functions:
- Trading a variety of assets
- Learning in the format of video lessons
- News on the platform portal and economic calendar
- Chat with traders
- Various interface settings
- Technical analysis in the form of charts, indicators, and graphic tools, etc.
In such a simulator, you can perfect your strategy, get an idea of the market, learn to make informed and quick decisions based on the current situation on the stock exchange.
After completing registration and opening an account, download the FREE trading terminal and install it on your computer, it works faster and is more functional than the web version. Although you can trade without downloading. Many choose this option at the beginning of their career.
Functions and limitations of the demo account
The free IQ Option demo account has no restrictions on the time of use or trading instruments. These important things for a beginner will be at your full access. You will use the same assets for training as in real trading, the same quotes, and orders. For example, Stop Loss and Take Profit. Which is also a great advantage because not everyone will be able to decipher these tools the first time and use them correctly.
At the same time, it is worth noting that some brokers limit the operation of their accounts, for example, provide only some assets or limit the time.
Devices on which you can trade
After a successful registration, you will be able to use your IQ Option demo login on any device you are used to. It can be a PC, a tablet, or a smartphone. To do this, you must download the application you need for your system from the official site. Fortunately, the application is designed for all popular systems.
Assets
Trading in practice accounts most often takes place in known currency pairs, stocks, and other popular financial instruments. The demo account allows you to test trading strategies, determine their strengths and weaknesses, and choose those that are suitable for use in real operations. It is worth noting that you can open up to 9 charts of different assets at the same time on a work screen.
By the way, IQ Option has hundreds of assets, so you will definitely choose the desired asset for you and diversify your portfolio. IQ Option offers Forex and CFD on stocks, cryptocurrencies, commodities, indices, and ETFs.
Chart Tools
Using the IQ Option demo account, you will learn to work with technical analysis and apply various tools. They are all at your disposal, and you don’t pay extra money for them.
Charts
Consider the types of charts:
- Line. The simplest chart that exists. It allows you to quickly assess the current trend, whether the asset is going up or down.
- Bars. A fairly visual chart, but inferior in terms of convenience to Japanese candles. Shows the same information: opening price, closing price, and maximum and minimum prices.
- Candles. A popular type of interval chart. The construction of a Japanese candlestick chart is based on four indicators: opening and closing points, maximum and minimum prices. Each section of the chart reflects the state of these position indicators in a certain period (time frame).
- Heiken Ashi. Improved candlestick chart. It is smoother and more suitable for long operations than for short ones.
Indicators
Also learn to use trading indicators. There are dozens of them, start with the most popular ones. They are assigned to the group of the same name. The task of the chart is to show existing trends and try to predict future ones.
Types of Orders
There are several types of orders on the platform. A market order is an immediate buy or sell order that an investor sends to a broker. But there are also other useful features.
Limited Orders
A limit order is an order to execute a transaction when the price set by the investor is reached. Market prices are constantly changing. When an investor does not want to follow the quotes, he sends a limit order.
Stop Orders
Another type of orders, whose execution is delayed until the specified conditions are met. There are two types of stop orders: Stop Loss and Take Profit. Stop Loss is used to limit possible losses. Take Profit will allow you to automatically set the profit, that is, it will close the deal when a certain gain is received.
How to reset the IQ Option demo account?
Resetting the IQ Option demo account is, in other words, a reset of your account. Let’s say you are trading actively and have already spent the €10,000 of your virtual account. But you are not yet ready to start trading for real. Or you are already trading with real money, but you need an IQ Option free demo account in the process. Then you can click on the button to the right of your virtual balance and the automatic recharge will be made. Resetting the IQ Option demo account is absolutely free!
At the same time, you should not delay with such training, because no matter how convenient and close to real conditions a demo account is, nothing can replace the experience of real investment. Let it be the smallest amount, but this way you will get much more knowledge and skills.
It is worth noting that with IQ Option you can make transactions from just €1! Recharge your real account in the way that suits you best.
How to switch from IQ Option demo to a real account?
To switch from a real account to a practice one, you must click on the balance of your account. After that, 2 of your accounts will be released to choose from. You click on a real account and go to it. The same way, you can go back to the demo.
