Using IQ Option platform for binary trading in Hong Kong: comfort and reliability
Binary options are understood as an interesting and promising financial instrument but on the other hand such instrument is rather controversial.
Somebody compares it to a roulette. Others frequently call options gambling. To understand the instrument, it should be analyzed deeply.
The history of binary options: a brief overview
In fact, binary options are considered as the most recent investing instrument that appeared in the USA in 2008.
Chicago Board Options Exchange opened two binary options: for S&P500 and for VIX indexes. Since then, the new instrument has started to spread all over the world.
Referring to the European financial system the crucial decision was made in 2012.
At present time, different governments show different attitude towards binary options but the instrument is available for trading in the majority of countries including Hong Kong.
What do binary options mean?
Apart from other assets like shares, traditional or digital currencies binary options give you no property rights.
Those assets are contracts between a trader and a broker and each party takes certain duties.
A trader loses its investment in case of differences between a prediction made and a real market situation. The principle ‘all or nothing’ is realized. A broker is obliged to pay fixed amount of money when a prediction was right. Expiration time, asset and investment are the key contract clauses.
A deal between a trader and a broker can be illustrated by the following example. A user visited a particular broker platform and had picked up EUR/USD asset. When expiration time is from 1 to 5 minutes, a trader gets 95% profit. A user selected 3 minutes and had invested 10 USD. At that moment EUR/USD index was 1.08420. Analyzing news and trends a user predicted that in the upcoming minutes the index would increase and had made a deal. The index increased to 1.08421 and that had brought $9.5 net profit to a user.
Thus, no matter how much the index increases, the profit is fixed and depends on the result only. In the index was 1.08419 a trader would have lost his investment.
Looking for a broker: why a platform may influence your success?
Referring to binary options trading, a broker frequently plays the crucial role, either positive or negative.
The following aspects prove the importance of a reliable broker selection:
- License. Unlicensed brokers have no responsibility before their users whose rights can be violated.
- Technological background. The less innovative and convenient a platform is the less successful your trading is expected to be.
- Financial background. Traders expect getting convenient process of depositing and withdrawing their funds. Any problems lead to time-wasting and nervousness.
IQ Option binary options trading: liberty, equality and brotherhood
IQ Option broker is considered among the most reliable ones being awarded for its customer-friendliness and progressive technologies.
The main advantages of the broker can be summarized in the following statements:
- Platforms were developed implementing the recent technologies therefore operations are several times quicker than competitors have.
- Diverse array of assets is suggested for trading (referring to binary options, there offered more than 50 assets including OTC options).
- Complete customer support is provided (24/7 support, thematic chats, native language chats, etc.). All problems are expected to be solved in minutes.
- Apps for PC and mobile phones are developed together with online version to offer traders trading variability.
- The highest level of trader-friendliness is guaranteed. Working out a platform, developers had been taking into account traders’ opinions.
- The trading process can be completely personalized using different analysis instruments and even color schemes. Settings will be saved for your next sessions.
- Multiple ways of depositing and withdrawing funds are suggested for users.
Getting an account on IQ Option is a totally simple task.
Visit a website, press ‘Sign Up’, insert all necessary information and confirm terms and conditions. The whole process takes some 5 minutes.
How to make a deal on binary options Hong Kong?
If you wish to invest funds in binary options IQ Option platform offers the best conditions for users.
Just follow some simple steps:
- Log in your account.
- Open a new asset by pressing ‘+’ in the upper left corner. You will be offered diverse array of assets for investing.
- Click in the preferable currency pair or share to start trading. A chart with price changes will be displayed for selected asset. Price changes are shown online, directly from the market.
- You are able to change a chart time from 30 days to 2 minutes in order to get necessary information for the current market situation analyzing and further predictions.
- Pick up expiration time taking into account that fixed profits are the highest for a period from 1 to 5 minutes while a trader is suggested selecting expiration time up to 2 hours.
- Insert the amount of your investment. Our platform offers making deals starting with $1. The maximal amount of your investment is limited by 20 000 USD.
- Press ‘Higher’ or ‘Lower’ depending on your analysis. 30 seconds before the expiration time a trader is able to make deals. What’s more those deals can be to both results – i.e. both ‘Higher’ and ‘Lower’. There exist no limitations for the number of deals.
When the expiration time comes and your prediction corresponds to the market situation, funds are charged to your account in several seconds.
Binary trading FAQ
Which instruments are used for analyzing price movement?
Binary options belong to the category of financial assets therefore their analysis is connected with special instruments applying. Those are divided into three categories. Economic calendar includes all news that concern chosen assets. Every news may affect the price significantly. Indicators like Bollinger lines, Stochastic, MACD are necessary to analyze the trends and understand further price movement.
H3: Which binary options IQ strategy should I select?
There exist tens of different strategies for binary trading. Among the most widespread strategies the following ones can be pointed out: Ishimoku Cloud, Profitable hedge, Slaughter, Ninja, Puria, Trend Channel, etc. Strategies are worked out for particular expiration time. There exist turbo ones for 1-5 minutes or ordinary oriented on longer time.
In fact, every strategy should be tested on different assets and personal experience only may tell which strategies are the best ones.
How should I test those strategies?
Our platform offers perfect conditions for strategies testing. Every user obtains a demo account after registration. The main advantage of a demo account lies in getting virtual money. An account contains $10 000. When those funds are spent, an account can be refilled again. Refilling is unlimited. No real money is necessary for an account refilling.
Thus, traders are free to pick up different assets and test different strategies in order to find the most effective ones.
Should I select shares or currency pairs for trading?
In fact, those assets cannot be compared because they imply different trading principles, different strategies and different profits as well. Shares are understood as more professional instrument. Their price mostly depends on fundamental factors including news therefore traders are recommended selecting maximal expiration time periods. Referring to currencies, the influential factors are more numerous and the situation changes every second.
Which currency pairs are the most suitable for beginners?
Our platform offers more than 40 different currency pairs for trading but users cannot pick up all assets because each type demands profound analysis therefore professionals recommend selecting one or two assets and use them for trading. The more you understand the situation, the more profits you obtain. Picking up currency pairs pay attention to the following criteria:
· Volatility. There exist pairs with minimal volatility (EUR/GBP, NZD/USD, etc.), medium volatility (EUR/USD, CAD/JPY, etc.) and high volatility (EUR/NZD, GBP/AUD, etc.). Traders are recommended to trade pairs with medium volatility.
· Popularity. The more popular assets are among traders the more complicated their prices movements are predicted. For instance, GBP/USD and EUR/JPY are not recommended for newcomers.
· Motive force. Different currency pairs depend on some assets or other factors and such peculiarity must be taken into account by traders. For instance, pairs with GBP are highly dependent on the news from the UK. USD/CAD pair depends on oil prices. AUD/USD and NZD/USD depend on precious metals’ prices and on weather as well.
Thus, traders are expected to take all those factors into account and then pick up a currency pair understood as the most preferable one.
Can I open deals for different assets?
Using ‘Open new asset’ traders are able to make unlimited number of deals for any assets they wish. The total portfolio contains information about all you deals. Such option is recommended being used for correlated currency pairs. For instance, EUR/USD and USD/CHF move almost identically. The same concerns AUD/USD and NZD/USD pairs.
How can I improve my trading skills?
Binary options are understood as an instrument that demands the highest level of professionalism. Our platform offers extended functionality for those who downloaded apps for their PCs, laptops or smartphones. Video tutorials are suggested for free. Moreover, you may participate in IQ option tournaments that welcome traders from all over the world and imply attractive prize pools. Some tournaments are offered for free while others demand fee that is just several dollars.
H3: Are there any information for binary option assets?
Our platform offers some information for users including the recent news concerning a trading pair, technical analysis, predictions, etc. Based on those data analyzing the price movements becomes much simpler. Using apps, traders may follow to 9 charts simultaneously where different periods of time can be selected.
Is binary trading available on weekends?
Most assets are closed on weekends because financial organizations work from Monday till Friday all over the world but some assets are still available for trading. Those are Over-The-Counter pairs suggested by a broker. Price movement is controlled by a broker as well therefore assets are understood as the most risky. On the other hand, profits are maximal for OTC pairs. When other markets are closed, the opening time is indicated. For instance, AUD/JPY asset opens in 2 days 4 hours.
Are binary options legal in Hong Kong?
Hong Kong is rather loyal country to all innovations and investment instruments as well. Citizens are free to invest in binary options but a platform should be obligatory licensed. Speaking about the trading norms, users are just obliged to pay taxes from their profits.
Should I pay taxes from trading profits in Hong Kong?
Definitely yes! Profits obtained from binary trading are classified as general profits therefore a trader is obliged to pay income taxes. The rates differ from one to another canton. For instance, in Zug taxes are just 23% while in Neuchatel 37% are charged from traders. Zug is the most favorable place for different investing activities and the canton is even called the Crypto Valley.
Can I earn for living trading binary options?
The main paradox lies in the fact that traders should not think about money. Thinking about money is connected with emotions while emotions are understood as the main enemy of a trader. The circle is closed. Thinking about results, skills and professionalism is a road toward success.