Modern people enjoy mobility, and traders are no exception. That is why mobile applications for trading are getting more and more popular. Today we will take a look at IQ Option X – a trading app for Android devices that offers a variety of trading instruments available on the IQ Option platform. But it is the only mobile application that also includes binary options. This article will cover IQ Option X download, overview of the traderoom, its tools and features.
How to download the IQ Option X app?
To download IQ Option X, simply follow the link below.
You can also download the app from the official IQ Option website. The app is not available on the App Store or Google Play. This app is for Android devices only.
Pay attention to the operating system requirements:
- Android 5.1 or later
- Hard disk space: 74 Mb
Once you have installed the app, the next step is IQ Option X login. You have to either create a new account or sign in to an existing IQ Option account. For new traders, the platform offers a practice account to get some experience before making the first deposit.
Traderoom Overview
IQ Option X has a horizontal layout and allows traders to follow up to 5 different assets simultaneously.
The main menu is located on the left side. Traders can use this section to make deposits and withdrawals, view their operations and trading history, change application settings and contact support.
There are also several icons on the left side that might be familiar to existing IQ Option traders. By clicking on them, you may check your portfolio, read news from the market, set alerts, watch tutorials on the use of the platform and its tools and join chats with other traders.
The menu items on the bottom offer information about trades and some graphical tools for analysis, such as technical indicators.
Technical indicators are useful tools for the analysis of assets. If you have not yet used them for trading, you can learn about them in the articles on IQ Study, such as this one: Top Indicator for Binary Options: Stochastic Oscillator.
What can you trade on IQ Option X?
Among trading instruments available on IQ Option X are:
- Binary Options
- Digital Options
- CFDs(Forex, Stocks, Commodities, ETF, Crypto).
Some of these instruments are available on other mobile applications. The main advantage of IQ Option X is that it offers binary options trading.
What are Binary Options?
Binary options may be considered one of the most straightforward trading instruments. They are popular among both novice and experienced traders. But they are not available on every trading platform. IQ Option offers binary options trading on the online platform, on the desktop version and on the mobile app IQ Option X.
Binary option is a type of contract used for trading. The term ‘binary’ refers to this contract having only two possible outcomes at expiration. The trader either makes a profit in the amount defined before the trade or loses the initial deposit.
To trade binary options, you have to decide whether the price of the asset will go up or down before the expiration. To make a profit, the price should either go above the initial price or below it, depending on the trader’s order. If the trader thinks the price will go up, the order would be to CALL. If below, then PUT.
By making an order, the trader does not buy the underlying asset. He/she just attempts to predict the asset price level at a certain point in time (at expiration). If the prediction is correct, the trader makes a profit. The amount of potential profit is indicated in the traderoom before the deal is made.
It is important to pay attention to the expiration time for the trade: you may choose it on the right side of the screen. The closest expiration time is indicated on the screen as a vertical line, along with the purchase deadline (which shows the deadline for making a trade).
Once you have made a trade, you may still choose to close it before the expiration by clicking on SELL. However, you might not be able to return the whole deposit: the amount to be returned is indicated as well.
You can find more practical information and tips on binary trading in this article: How to Trade Binary Options.
Other Trading Instruments
There are also other trading instruments available on IQ Option X, such as CFDs and Digital options.
CFD (contract for difference) is a financial contract that pays the differences between the opening and closing prices. To trade CFDs, it is important to understand some key concepts, such as margin trading. To learn more about it, take a look at this article with a detailed explanation and examples: IQ Option Forex on Margin Trading Guide.
Digital options are similar to Binary options, but there are some important differences. To understand them and learn how to trade digital options, check out this guide: How to Trade Digital Options: Your Ultimate Guide.
Conclusion
IQ Option X is a handy solution for those who enjoy trading on their mobile devices. It offers a variety of trading instruments. IQ Option X binary options may be considered the most popular, as they are not available on other mobile applications.
