One of the most popular brokers on the South African market, IQ Option, now offers Classic Options on their modern trading platform.
A combination of a user-friendly dashboard and fantastic range of opportunities to turn a profit on the stock market is the best way to describe Classic Options.
The idea behind the introduction of Classic Options is to provide traders with a broad selection of underlying assets and more control over their trading.
What is the Benefit of Trading Classic Options?
There are similarities between trading binary options and classic options, as both types require that traders predict the direction of the underlying asset price.
What traders get with IQ Option is the opportunity to trade with over 500 underlying assets in various financial markets.
However, what comes as the biggest difference separating classic options from binaries is that traders have the benefit of closing the trade when they chose to do so.
Meaning, they do not have to wait for the trade to expire.
Naturally, this manner of trading allows for much more control over the entire trading process.
Further differences also include the fact that possible profit with Classic Options is not fixed and it rises if the trade is going in the predicted direction.
Classic Options now available with IQ Option have taken a page out of USA stock market which is based on 30 major companies which have the best performance such as FedEx, Apple, MacDonald’s, Facebook, Starbucks…
This also means that the Classic Options are available during American Stock Exchange times which means 2.30 pm till 9:00 pm GMT and 9:30 am till 4:00 pm Eastern Time.
How to Start Trading Classic Options with IQ Option?
Classic Options are located under Binary and Turbo Options on the IQ Option dashboard and traders need to select that.
Then, they have to choose an underlying asset they wish to trade which can be selected from the trending options list of regular asset list.
When they finalise this part, traders also have to decide on the precise number of underlying assets they wish to buy. Naturally, the more options they add the more money they have to invest.
Yet, the potential profit gain also increases.
Of course, the price of the underlying assets is a combination of several factors such as strike price and the market volatility.
This means that traders will have less risky trades when the strike price is lower.
On the other hand, the higher the risk, the more traders stand to profit.
Luckily, with Classic Options traders can select the risk level by opting to use the lower strike price with call option, or higher strike price with put option.
At any rate, traders keen on making profit have just received another exciting venue to explore.