IQ Option: How to Open a Demo Account
IQ Option is a leading online brokers. One of the main reasons why they’re such a popular broker is that they offer a free demo account, which comes with lots of great features.
The unlimited demo account is available to all users, whether you’re an existing member or not. It’s also very quick and easy to set up a demo with IQ Option.
In this post we’ll look at the key features of the demo account, as well as how you can sign up for it.
Opening a Free IQ Option Demo Account
You need to follow these steps in order to open a practice account:
Step 1: Open an IQ Option account by clicking on the green button below
Step 2: The sign up page will appear. You need to fill in the boxes with the needed info, such as your name and email. You will also have to set up a password to secure it.
Step 3: Click on the button that says ‘Open An Account For Free’ to confirm the process
Step 4: Next a window will pop-up asking to choose where you want to trade. Make sure you click on the option of ‘Start trading on a practice account‘ to use the demo.
You will then be redirected to the IQ Option demo account window so you can start to practice trading. It will be set up already with $10,000 of ‘virtual funds’ for you to spend.
*Risk warning: Your capital might be at risk
Real vs Demo Account
If you want to switch to an IQ Option live account and start trading for real with actual money, you can easily switch between the two. You can continue to use the practice one alongside the real one.
However, you’ll need to deposit actual money to use the real trading account.
Switch to the live account by clicking on the account balance in your trading screen.
Remember that if you want to start trading with a live account, you’ll need to meet the broker’s minimum deposit of $10. Of course you can deposit more if you wish, but $10 is the minimum amount of money that you will need to transfer to your account.
IQ Option Demo Account Fees
The answer to this is no! It is a free demo account, so there are no costs or extra fees to use it.
So you can be reassured that there won’t be any hidden charges.
You can also use the practice account for as long as you like. There is no time limit or expiry date.
The account comes with $10,000 of virtual funds for you to spend, so you are not at risk of losing real money.
When you’ve spent all the virtual money on the free demo, you can ask for a ‘refill’ of funds. The customer support team will help you with this.
How Do You Use IQ Option Demo?
You’ll be able to use all the same features as if you were really trading. So although you are using virtual money, you can still trade in every asset and use the same tools as the ‘real account’.
The broker has some great tools available such as technical indicators, market updates, economic calendars and video tutorials for you to use.
In fact, educational tools are one of IQ Option’s strengths. They have a great range of free video tutorials on their platform that cover a wide range of subjects.
When we checked their offer they had 10 categories of tutorials covering everything from market news to trading CFDs.
This can all be accessed via the IQOption demo account.
If you need any help at all the customer support team can be contacted.
Can IQ Option Be Trusted?
Yes! The broker is fully regulated and attracts traders from all across the world. They are also fully regulated by CySEC Licence 247/14 which is a very respected European financial authority.
By being regulated the broker must follow rules that have been put in place by the authorities. These are financial rules that are designed to protect you and other traders against fraud.
For example, one rule is that broker’s must always allow clients to withdraw their money whenever they want.
Unfortunately there a many unregulated and illegal brokers online who are looking to scam people, that’s why choosing a regulated broker is the key to staying secure.
IQOption is a legit platform that has active members trading on it’s platform every day. They also won the 2017 Award of Excellence during the Financial Communicator Awards for their trading App.
They are a reputable broker platform, and are not a scam.
If you wish to start forex or CFD trading on their platform, we’d recommend started with the demo account first so you can see whether trading is right for you. This way you practice trading without having to invest real money. You can read more on our IQ Option review.
Should you wish to switch to a live trading account, make sure that you only invest money that you cannot afford to lose. Never invest money that goes beyond your planned trading budget.
Author of this article and founder of Tradingonlineguide.com
My aim is to help you increase your trading knowledge with helpful content. I come from an economic background and have a strong passion for forex trading. With more than 6 years in the online trading world, I want to share my financial knowledge so that anyone can develop their investment skills.
In my spare time I enjoy cooking and travelling.
Here you can learn more about our review methodology.