- 8 Money Management Techniques - January 4, 2021
- What Is the Best Possible Time to Trade - October 26, 2020
- How To Identify Seasonal Patterns in The Stock Market - September 16, 2020
For almost a year I have watched IQ Option grow, and I decided to talk to someone who is at the frontline of customer service, Julia Godlach. She has been with the company for six months already, and had something to say about working in the company.
She had studied public relations and has a diploma in professional communication and translation studies so it is only natural that she feels at home, talking to customers from different parts of the world. We meet her at her colorful working desk as she greets us with a smile before we start the interview.
- Hello, Julia! Nice to meet you. Could you please tell me, clients from what countries are the most active in tickets, chats and via telephone?
Julia: Nice to meet you too. As I’m working with English-speaking clients, I mostly interact with traders from UK, South Africa and India. But clients from such countries as Spain, Portugal, Brazil and Italy can often be seen in the chats, too.
- What are they interested in? What is the most frequent question traders ask?
Julia: One of the most popular questions is how to pass verification. In my opinion, it’s pretty understandable as verification is one of the key procedures existing on the platform so our job is to make verification experience for our clients as smooth as possible. Also, we get lots of questions dedicated to our latest releases.
We have recently launched Forex, cryptocurrency investments and CFD and it didn’t go unnoticed. For instance, traders want to know whether there is any expiration available for forex and cryptocurrency positions and how to use such features as Stop Loss and Take Profit correctly. Cryptocurrency is booming nowadays so clients are genuinely interested in these types of assets, too.
- I see you’ve mentioned Forex, can you please tell me, what should I know about Forex trading ? What is the most important about it?
Julia: Sure thing. It’s important to realize that the main idea of Forex trading is to get profit from the change of currencies price. There are two types of positions – long and short. If you think that the price of the asset will increase, you can open a Long Position. On the contrary, if you think that the price will decrease and you sell the asset, it’s a Short Position.
You can also use technical and fundamental analysis for Forex trading. We offer a wide range of technical indicators and graphical tools on the platform so you choose any of them. Besides, we have an official blog which is regularly updated with news of the day that might affect the market, it also contains detailed articles dedicated to various aspects of trading from patterns to analytical materials. An economic calendar is available there as well.
- Is there any difference between profits for long and short positions on Forex?
Julia: No, there is no difference in profits. The only difference is the formulas used to calculate the profits, but they too, are quite similar. For long positions it can be calculated the following way: (Closing price / Opening price – 1) x multiplier x investment
For short positions: (1-closing price/opening price) X multiplier X investment
- What is “pips” and how can one count the price of one pips?
Julia: It’s a term used by traders and market analysts for describing an amount of asset’s price change.
We offer a universal formula for calculating the price of one point of the investment currency. It can be calculated this way:
- One point = ((Closing Price – Opening Price)/ Opening Price) x Investment x Multiplier.
- If you want to calculate the price of one point for an open position, there is a solution as well.
- Just write a price that is 1 point bigger than Opening Price and it will work this way.
- How does Multiplier work?
Julia: It’s an amount, to which your initial investment is multiplied so that you could trade with a much bigger amount that you invest.
For example, when your initial investment is $100 and you use a 500 multiplier, you will trade with the amount $50 000 and you will get profit from $50 000 investment, not $100.
In fact multiplier is similar to a leverage in classic Forex trading. Though it sounds truly appealing I’d like to emphasize that using multiplier increases the level of risk. On our platform the trade is automatically closed when it reaches a level from -95% to -100% so when using the leverage, you should be confident in investment decisions you make.
- Is there any difference between classic Forex and IQ Option Forex?
Julia: Yes, there is. Our team aimed to create a user-friendly and easily understandable interface and I believe they achieved their goal to the fullest. Also, our products have a built-in protection mechanism on our platform so it’s impossible to lose more than the amount of initial investment. 95% of the amount you enter into a transaction is the maximum you put at risk. At the same time, Forex trading can be very risky and we want our clients to to keep that in mind when trading.
- Can one test it on Practice account? Or is it limited for demo and can be traded only on Real account?
Julia: Yes, it surely can be tested on Practice account. We believe that it’s truly crucial to have an opportunity to get familiar with interface and all the new features without putting your real capital in risk. For this very purpose we have increased the default demo balance to 10 000. By the way, practice balance can be topped up anytime. You can either do it by yourself or you can always reach out for Support Team if you need any bigger amount for training. We respect our clients’ needs so practice account can be used for as long as you want to absolutely for free.
- And the last, but not least question: what is the best way to interaction with platform for good results?
Julia: Having a stable high-speed Internet connection is vital as it affects the total trading experience. Also it’s pivotal to know our Terms and Conditions because that’s what regulates relations between you as a customer and us as company.
We are completely transparent in our procedures that’s why our policies are in open access for all the visitors of our website, even for unregistered ones. And the last but not least, please don’t hesitate to contact Support team if you need any assistance.
I was surprised to find out that lots of clients often feel shy to get in touch and apologize for asking something but there are no insignificant questions and we are here to help you through any doubts or hesitations.
We offer a variety of channels for support (tickets in personal cabinet, live chat and hotline) so just choose the one you prefer. Don’t forget that there are no unresolved issues, there are only questions that remain unasked.
Open a Free Demo Account by Clicking the Green Button Below
Start trading now with our recommended Binary Options Brokers.
Start trading now with Binary Option Robot
|Min. Invest||Min. Deposit||Max. Returns|
|All brokers >>|