The IQ Option VIP account offers different conditions for traders, but, as the name suggests, it is not available to everyone. There are specific requirements for becoming a VIP at IQ Option and we’ll explain each of these details.
The acronym VIP refers to exclusivity, to something that is for the few. Although it may sound strange, this also exists in the binary options market. This condition is offered by most brokers in this market and in this article we’ll look exclusively at IQ Option‘s VIP.
Most VIP services are related to the provision of services and you may be wondering how this works in the financial market. That’s why we’re going to share with you everything you need to know about IQ Option VIP and whether it’s for you or not.
Right away, we need to warn you that like most exclusives, you need to invest a different amount of money. However, as value and price are very individual issues, we’ll leave it up to you to decide whether it’s expensive, cheap and/or fair, okay? Check out our full review below.
How does IQ Option VIP work?
First of all, IQ Option is a broker that was founded in 2013 and currently has over 48 million users in almost every country in the world. It is one of the leading brokers in the binary options market, whose very name “binary” suggests that the trader is offered only 2 options: whether the price of a particular asset will rise or fall within a certain period of time.
But where does VIP service come in and how does it work in this type of business?
What are the advantages of being an IQ Option VIP?
Being a VIP at IQ Option offers you 3 main benefits: greater profitability, support and special offers. There are also other good benefits, such as: free entries to tournaments, material and exclusive training for VIPs.
In case you haven’t heard, in binary options there is a payout, which is the rate of return you will receive if you get the trade right. In VIP, the vast majority of payouts are increased by at least 2%. Standard payout rates are around 80% and can be as high as 92% for an IQ Option VIP user.
They may seem like a small difference at first, but in the long run they can add up to a lot of money after several trades.
How to become a VIP at IQ Option?
Important detail: upgrading to an IQ Option VIP account must be requested manually from support, so be careful not to fall asleep, as your account will not be upgraded automatically.
Is it worth being a VIP at IQ Option?
No doubt about it! Most of the benefits given to IQ Option VIP users make a big difference, such as increased payouts. In fact, the question isn’t whether it’s worth being a VIP, but when.
As we explained, to become an IQ Option VIP trader, you must deposit and move a considerable amount of money, especially if you are a beginner. If you are a beginner and the amount needed to become a VIP is within your reach, we recommend that you be very careful.
Although the advantages of IQ Option VIP make a difference, knowing how to trade is even more important than that. In other words, there’s no point in having a VIP account if you don’t know enough about the market.
In this case, we recommend studying and practicing a lot before making large deposits and moving money around in this market.
What’s the best way to become an IQ Option VIP?
Right away, we need to tell you that there is no one best path in trading, as it is an area with many different sources of knowledge, and where there is often no right or wrong. Another particularity is in relation to each trader, where each one has different philosophies, objectives and financial realities, making each one’s path unique.
However, there is some good advice we can give you to help you, as a beginner, suffer less and have a better chance of achieving your goals.
Dedicate yourself to your studies
If you’re new to this market (and also if you’re not), the first step before making any major investment is to study up. Otherwise, you will most likely lose money.
Learn about the assets, platform, indicators, strategies and other factors involved in trading on IQ Option.
Practice on the demo account
Once you’ve developed an understanding of the subject, start practicing. A good idea is the demo account offered free of charge by IQ Option. This way you can put the strategies you’ve studied into practice on all the assets offered by the platform.
When you start to feel more confident, you can move on to the real account, prioritizing practice with small amounts. This is important because when we practice with virtual money, we don’t get to practice the psychological aspects that are triggered in the event of an imminent loss of money.
In fact, the psychological factor is just as important as technique in trading. Pay close attention to how you react in the most diverse situations you encounter in the market. On our blog, you’ll find articles on this subject, which we highly recommend you read.
Do risk management and grow gradually
To live a long life in trading and be able to claim an IQ Option VIP account more safely, our third and final tip is to do as the professionals do and adopt risk management.
Risk management is an important ally in preventing you from losing too much money and taking unnecessary risks, such as going broke. Good risk management involves well-defined criteria for making your trades, such as setting amounts proportional to your bankroll for each trade, as well as daily take profit and stop loss.
Don’t know what we’re talking about? Check out the full article on risk management at IQ Option here on our blog.
After reading this article, you can find out how VIP IQ Option works with a demo account on the IQ Option platform, and learn about the most interesting trading strategies.
