Forex trading is usually recommended for traders with little or no experience. It involves trading fiat currencies and capitalising on the price fluctuations and market changes. A great way to trade forex is to open an account with IQ Option to benefit from the forex assets available on their platform. It offers a lot of different trading options.
IQ Option offers trading options for most of the popularly traded currency pairs. Some such currency pairs are listed below along with the full names for the currencies
|EUR||NZD||Euro||New Zealand Dollar|
|GBP||CAD||British Pound||Canadian Dollar|
|USD||ZAR||US Dollar||South African Rand|
|AUD||CAD||Australian Dollar||Canadian Dollar|
|USD||CAD||US Dollar||Canadian Dollar|
|GBP||USD||British Pound||US Dollar|
|AUD||USD||Australian Dollar||US Dollar|
|USD||SEK||US Dollar||Swedish Krona|
|GBP||AUD||British Pound||Australian Dollar|
|USD||INR||US Dollar||Indian Rupee|
|USD||RUB||US Dollar||US Dollar|
|USD||TRY||US Dollar||US Dollar|
|GBP||CHF||British Pound||British Pound|
|GBP||JPY||British Pound||British Pound|
|AUD||JPY||Australian Dollar||Japanese Yen|
When you made a deposit, the currency is added to your account. You can use this to buy any other currency, and then use that one to buy more other currencies which can give you more experience as you trade with multiple pairs of currencies.
The trading window displays all the information you need for trading. The chart displays the price history and immediate price movements. You can select the intervals for history. You can select the amount you want to trade and then press buy or sell buttons on the left panel.
You also have the option for margin trading, which is trading with borrowed money. This allows you to increase your trade value and also your profits. Do note that it also increases the risk of loss. You will need some leverage amount for margin trading. Some margin trading options limit the loss to the leverage whereas with some others you can actually lose more than you put in.
Another trading method involving forex offered by IQ Option is digital options. You can go to the Options section and then select the desired forex pair. The price history will be clearly displayed on the chart. The current exchange rate is displayed on the right. You need to predict whether the exchange rate will rise or fall. You can collect profits if your prediction is right. Do note that this has significantly higher risks than purchasing currency directly since you risk losing all your investment at once.