Topic: Is it worthwhile to trade the cryptocurrency on IQ Option? (Read 331 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. 

Two of my friends are using IQ option to trade forex such as EURO and USD. I asked if it is good to trade in IQ option, they answered me that it is also a good exchange platform. Well, even they have positive views in IQ option, I did not yet tried it. If I will buy cryptocurrency, I probably use cryptp exchange rather than IQ option. It is quiet confusing also to my part when it comes to the buy and sell in IQ option platform. You take profits by selling at a lower price and buy it in higher price. Seems like it is shorting. It is a legit but I don`t to make it as my option in trading cryptocurrency. I always rely in crypto exchanges such as binance and kucoin than other platforms.

I hear that exchange since 2018 but I'll never tried this one. If you are afraid using that website it's better for you to find other alternative that you know have many good feedback for users.

If you Google check that exchange you can found many scam accusations with iq option so I guess not really good exchange for you  to start trading, if you don't want to experience the same problem as they have.

Definitely who wants to trade quick than a day trader can choose options trading but when we consider that is a worth trading methods in the crypto market the it is not, eve the forex is highly on such kind of trading platforms so imagine how thing will be unpredictable if we trade highly volatile cryptos on it.

I haven't tried doing trading with such platform but if you do want to know more about IQ Option, better just do your own researching for it seems like no one in here can answer your question because we haven't make use of that on doing trading. Better do trade on the proven and tested by many and not just newly introduced for it is safe for the ones already proven rather than putting your funds into a gamble and risk it for a platform that seems like no one in here is using. But if you do really insist on trying that, do your own move of doing research about such and decide for yourself if you will get in there or not.

Trading cryptocurrencies is definitely worth your time and money. But to make it worth, you will be the key to make that happened.

Either you choose the IQ option, or those famous crypto-trading platforms like Binance, Kucoin, etc. it's only you who can make your trading experience successful. You need to actually try it and see for yourself if it will be worth your money.

But why IQ Option? Does someone recommend it to you? Go head to Binance. If I'm not mistaken, there a mandatory KYC on IQ Option as it also involves stock trading and most payment methods are bank transfer.

Just trade with the most common exchanges rather trading on IQ options. I haven't tried trading there but it's a complete different setup.

But that doesn't mean we are stopping you to trade there but it's more for the other commodities than crypto. Take time to trade first to the known exchanges and when you're ready and you think you can bear to adopt other platform and different setting of risk.

Get to try it.

now that futures and margin is common on crypto trading platform, i don't think binary will still get the amount of attraction like back when sencondstrade was active. you'd better be on margin trading than on binary trading, its almost similar bit with margin trading you can potentially earn more with 100x leverage.  you take a look at the whole view since its just predicting which way the market goes at certain time.

It is similar to gambling, but here one has got the ability to minimise the loss through continued observation of the market changes. With gambling limiting the loss isn't possible. Spending on casinos is purely on luck, it'll end up with win or else with loss.

Another statement that makes it similar to gambling is the unpredictable nature. No one is sure, based on which factor is the market fluctuation. Upon this one cannot make predictions based on study. Everything needs to be done on wild guess and based on comparison with the previous year growth pattern. This way it is like gambling on predicting the price.

I suggest you to learn how to trade cryptocurrency in the current exchange. Suppose you already know how to trade better in the current exchange. In that case, you can learn more about trading options because that will be different, and you need to familiarize yourself with the analysis that has been used in that exchange. I don't know how to trade using that because I never learn about trading options, and I don't use IQ option. You should find out the lesson, so you can start to learn how to trade on that exchange.

i always see that iq options advertisement whenever I play videos on youtube they always say that it's a trading platform but upon watching their short ad they indicated that you should predict the price of the coin to gain and my first impression was "what?" since i know what trading supposed to be so i guess they pretty much like a gambling just like what others said.

Yes I have used IQ option, but not for trading Bitcoin; I was trading other assets and currencies like USD, Gold, EURO, Oil and the rest of them, though there wouldn’t be any difference when you decide to be trading bitcoin on IQ option since they are all the same.

IQ option is an options trading platform, so you have to bear that in mind and it’s a lot different from the normal trading of cryptocurrency. As an options trader you’re given the right and not the obligation, and you’re only trading with amount you have invested for the action you take, and you’re not really buying the asset, you make a prediction and if it’s right you get profit, if not you will lose money. From my experience then, their platform is good and you can even deposit and start with $10, although I don’t know if they still do that now.

Even the most legit platforms in the market will really have some negative words on it, neither those are valid or legit reasons or just typically some bad calls for competitor.

IQ option were legit and they had been known on this business for a while and lots do still trust this platform up to this day which we can say that they are still good if ever you decide to trade with them.

Overall, i do agree that options trading is just like a gamble and would be much better if you do the casual trading or spot on but if you do love to play moving price in every second manner
then options is really for you.

You have reputable and trusted exchanges platform like binance, kucoin etc where your coins are safe at least better than your preferred IQ option for trading cryptocurrencies.
I.Q option is mainly known for binary option trading it was later they included cryptocurrencies into their platform and I had read many unsatisfactory reviews about them however if your intention is trading binary options with crypto in their platform its very risky and doesn't worth it.
You can channel your time towards learning other form of trading with lesser risk.

IQ options is legit as per the scam analysis reports but we can see lot of individuals complaining about IQ options on different social media platforms so this is kind of selective scamming trick in my opinion.But when it comes to option trading you are not going to do much things and as mentioned previously you are just gambling.You should always refer spot trading over other kind of trading when it comes to cryptos.

I never use this exchange but commonly I saw their ads that always pop up on my Facebook page, they actively have ads there.

If you meant that worthwhile to trade, I probably say yes, but trusting them to let my fund sleep on their wallet. I will not do that, and I will not trust any exchange to keep my fund for the purpose of holding the long term. I suggest that you can try to use them at least with the start of a small amount if you want to know their worthwhile.

Here is my insight into them.

• According to the Who.is, they'd founded year 2013 and operating business for how many years

• They are CySEC regulated
• Have a Free Demo account

It's up to you if will trust them, just do your own research furthermore, because I was saw them in the TrustPilot review, they gained bad rep there.

It's pretty much a gamble, especially when you know little to nothing concerning trading. You can win big money, you can lose big money. If I were to risk my money through gambling, I'd much rather go to a casino as at least I'd enjoy my time even if I lose some of my money.

I don't suggest you to do it, especially if you plan to buy BTC and hold it on your own wallet. I traded there in the past and it's very risky, not to mention the possibility of price manipulation is high since who knows where they get the price feed. Unless you want to gamble as mentioned above, stick with other exchanges. Don't fall for its trap. You can get 2x money but you can also lose 2x in just 5 seconds.

Its up to you but knowing options then i do consider it as a gamble rather than a trade.It would be much better if you do spot trading instead rather than with binary options or future trading
but if you can handle out the risk then proceed and also im not sure if those price tickers on IQ are that real-time- no delay on the exchange on where they do get those price ticks.
I have experience on IQ options in the past but not on Bitcoin but into foreign currencies wayback when im still on forex days but now here i am on this market i didnt tend to
go or lean back. Why not try to trade on Binance?

Hello, everyone! Are there any forum members who use IQ Option to trade cryptocurrency? I would really like to hear your impressions and feedback.