There are two types of accounts on the IQ Option platform. One is the Real account, where you need to make a deposit and use your real money to trade, the other is Practice account. On the Practice account, each trader is provided with $10 000 of free practice money to use for learning about the platform. It is not possible to withdraw this money, but you are free to use it for trading on all instruments.
As the charts on the Practice and the Real accounts are identical, you may plan your strategy and test it on the Practice balance, before you invest your real funds. You can experiment with different assets, different trading time, various investment amounts etc. Moreover, you can refill the account at any time as there is no limit for using the practice funds.
How to make a Practice account on IQ Option?
The Practice account is a part of your already existing account, so you do not need to create a new account on the platform for that. It is really easy to find the Practice account in the traderom. You can switch between the Real and the Practice account by clicking on the balance. The balance on the Practice account is displayed in orange colour, while the Real balance is green. To switch, move your cursor to the balance and click on the balance amount.
Once you have changed the account balance, you will see a confirmation “Account type has been changed”. Later on, should you decide to go back to trading with real funds, you can do it the same way – click on the balance and choose the Real account.
How to refill the Practice account?
You can use the Practice account for as long as you want and you can refill it anytime. There are two ways to do it.
The first way is to refill it yourself. It is quick and you can refill it as many times as you want. The balance of the Practice account will refill to $10 000. In order to do that, make sure you are using the Practice balance and click on the “Deposit” button.
You will see a window, where you will be able to choose the account that you want to fill up. Click the “Fill Up To $10 000” and see your Practice balance grow.
Another way to fill up your Practice account is to contact the Support. If there is a certain amount you want to fill your Practice balance up to (for instance, if you want $15 000 instead of $10 000), the Support team will be happy to help you.
Do not forget that the Practice account is just for practicing on the platform. It is not possible to withdraw this money or transfer it to the Real balance. But the charts on the Practice and Real accounts are the same, so you can be sure when you want to move from the Practice balance to the Real one.
The Practice balance is a great way to grow as a trader. You can try new things and implement strategies without risking with your actual money. Use it to your benefit and enjoy trading on the IQ Option platform.
NOTE: This article is not an investment advice. Any references to historical price movements or levels is informational and based on external analysis and we do not warranty that any such movements or levels are likely to reoccur in the future.
In accordance with European Securities and Markets Authority’s (ESMA) requirements, binary and digital options trading is only available to clients categorized as professional clients.
GENERAL RISK WARNING
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
77% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.