Topic: Is it worthwhile to trade the cryptocurrency on IQ Option? (Read 323 times)

It actually depends on many factors for example if you are a newbie then it would be better for you to try to practice normal trading first and then go for Options trading because that involves bigger risks than normal trading. Options trading is basically like gambling and you have to be lucky if you want to generate good profits else you will end up losing everything you have.
If you are a professional trader and are trying options trading for the first time then you can try doing it on reputed exchanges first and then may be other platforms to be on the safer side.

Why don't you choose binance or another centralized exchange which has reputed by most user. IQ option or olymptrade is more like gambling in my opinion. You just need several times to loss all your money. But in the crypto currency exchange you have stop loss feature to avoid you loss all your money.

Yeah, I ever use IQ option to trade in several times and if I compare with binance I preper to use binance and I more comfortable when I trade in it. Because now, when my prediction is gone wrong I just loss small money ( although it is depend on your money management strategy). In IQ option I feel I just gamble for all my money, guessing for each candles and loss my money when my prediction is wrong and getting money when the lucky come to me.

iq option is one of the thing that looks like gambling where you guess where the price is ended up to. if you are right then you get your money back + the profit or else you lose all of your money. if you are not sure and do not want to involve on any of that then i would recommend to not do that, would stick to trading for better investment

If you are already a trading professional I don't hesitate to suggest you trade on IQ Option. Trading on IQ Option using cryptocurrency is fine, it's up to you as the owner of the asset.

But if you are just a newbie and want to try IQ Option, it's better to undo your intention, Losing money on IQ Option will be very easy, no matter how much money you will lose if you don't understand. If you bet and are right you will get more money, but when you are wrong you will lose everything.
Learn and understand first, before you try it.

When it comes to types of trading then it would be classified as:

Scalping
Day trading
Swing trading
Position trading

and binary options isn't included on that one.
When we do talk about binary options then it defines -

What is a Binary Option?
A binary option is a financial product where the buyer receives a payout or loses their investment, based on if the option expires in the money. Binary options depend on the outcome of a "yes or no" proposition, hence the name "binary."

source: https://www.investopedia.com/terms/b/binary-option.asp


IQoption is been known on the market and I can say that they're legit ones.

Why invest though when OP just tried to trade there although what was the outcome but he just need some good feedback but I don't know if he already knows what are the risk of trading. A lot of people have lost their money trying to make some money but they failed since they don't have the basic knowledge about trading or how the market is moving.

I don't have proper knowledge about this site, but with courage and effort we may determine their reliability by investing some of your funds on them. There should be a trials to be made before entrusting your money, because we don't know what will going to occur someday. Most experienced traders make sure to secure their asset by means of quick trading and avoid storing funds for long periods of time.

Can you list those links? IQ Option is running legit (as of now) so I don't know where your statement came from.

Maybe what you see are isolated cases or only a few problems that might be resolved by now.

Either way, as I said to OP, why choose IQ Option when there are several crypto-exchanges around which is obviously meant for crypto only.

^ It been for a while their company existence and I think that length of service has longed enough to trust them our money even just holding a short time. But always remember that dont leave your money under by their control even you think how trusted they are. Just money that everyone's eye keeps opening since before. I think this exchange is far better to other centralized exchange and probably you can try it with a small amount and see if there is a worthwhile.

I've been trading using IQ Option, like most people I also suffered a big loss. So I highly recommend not trading on IQ Option,
if you don't believe it, please search for IQ Option reviews. For sure you will find bad reviews about IQ Option, for now I believe
more in manual trading on Binance.

Trading just on IQ business you mean like a guess work based on observation of the market I believe.
I won't do that for any reason. No matter how much you think your familiar with what price is doing in the charts, you can make much and you stand to loose more.
Using just one strategy isn't enough but combining strategies and taking accurate note of indicators is key.

Considering probabilities and it's reputation simple answer is NO. IQ Option is actually a gambling website more than a trading website. Before cryptocurrencies they actually made synthetic derivatives of currencies which was I believe done without any proper licensing. After the advent of cryptocurrencies these sites saw a great opportunity as there was no regulation in cryptocurrencies and then they started creating artificial options on these currencies.

Now coming to the part why I won't recommend it: It's purely manipulated. Have a look at the prices they tick I feel they are absolutely manipulated by them. They take some weighted average of all the open Interest for each round and then move the chart accordingly. Then even if it's not manipulated there is another problem and that is the time frame. The time frames generally are so less that they don't really make sense for a Human you need a bot to do all those things. You have the option of increasing the time limit but if you are going to play on a larger time frame then better trade on a proper exchange like Bitmex or something why IQoption? Thirdly they have no reputation. Never in my life have I ever heard from a person that he is a regular trader at IQOption. Everyone just tries it for a day or two and then decide to move on. The interface and overall trading environment just doesn't looks great. It just feel more like a gambling website.

Lastly a major reason is their hyper marketing. You just need to open IQ option once and for the rest of the month there would be no other ads than IQ Option. Moreover the ads too are very misleading doubling your money is just a myth man. Why does a trading website needs so much of marketing? This sounds most fishy to me.

I would not recommend you to go on IQ Options never. Same applies for some new websites like Binomo etc.

I also think that people should always trade on the Exchanges like Binance and kraken and not on IQ options, I always feel like that I am getting scammed there on the IQ options platform and is kind of rigged to lure in the traders when they are using the practice accounts and once they are satisfied that they can make money then they get stuck in the trap and loose money on the platform. Binance and other exchanges feel normal to me and are having way better options to trade on them.

for me personally, IQ Option is pure gambling...
I tried IQ Option once so I knew it was gambling. it's better to just trade on exchanges like Binance, Okex, and others which are safer and can use analysis.

I never used IQ Option to trade cryptocurrency . I don't think so it would be a good idea to trade there. However IQ option have one advantage that there is no leverage.

Using the exchange that's dedicated for crypto trading is still better than to use IQ option.

They have a huge difference and, although I have no particular experience using them but looking into ads, it's really dedicated for forex and not for crypto trading.

Worthwhile is a difficult question. Is it worthwhile to make money? Is it worthwhile to lose money? If you do it and you lose money obviously it is not something anyone would suggest, but if you do it and make a lot of money everyone would suggest it as well. So at the end of the day who knows what could happen if you did that; which is why I believe there needs to be some sort of middle ground for this, which would be training and virtual trading.

If you could find a place that does IQ Option virtually without any real money and you test how good you are and spend like a month there and see what the result is, you could have the answer to your question, that way you would know if you are good or not and if you are making money that means it would be worthwhile to do it.

At least, you already tried to trade on that platform, so you know how it feels. But the best is you can quit trading on that platform before it's too late, and you can get scam by them.

I don't try to trade outside of crypto because I realize that many platforms can scam me in out there. So I think I better to stay to trade in the current exchange.

Rather trade on this platform, better to trade on cryptocurrency here dude.
This is no different from the forex trading style. But of course the last and final decision still in your hands.
Mine is just an advice or an opinion. It is still much better to buy crypto that are related of course in cryptocurrency.

I had tried trading on it before and I lost 0.001 BTC, it feels so entertaining and I enjoyed the platform because of having good GUI and user-friendly as well but I did not try it again when I one of my friends told me to stop trying it because it js a scam, at first I didn't believe him because I really enjoyed the platform even though I keep on losing but when I had watched a review on it on youtube there are many videos saying that it is a scam and it would be impossible for you to earn money from that.
I suggest that you shouldn't try it, you may also have research about it or read some reviews.