IQ Option Tournament
IQ Option is a trading platform that has developed various features to make the user's experience more convenient and engaging. One of these features to get traders more invested in using the application is the tournament system.
IQ Option holds tournaments every month with cash prizes ranging from 1000 USD to 100,000 USD. Additionally, you can enter some of these tournaments free of cost.
Confident in your trading skills? In this article, we'll go through what is an IQ Option tournament, how to participate, rules and regulations, and more.
What Is An IQ Option Tournament?
The IQ Option tournament is a regular competition between traders where the winner receives binary and digital assets. In each contest, participants will receive a separate account with the same amount as everyone else. The primary objective is to grow your account within a specific period.
You can only trade binary options in the tournament account. IQ Option will provide details on how they'll distribute the prize pool. For instance, most tournaments' rules state they'll share the prize between the top ten participants. That means you have to rank at least 10th to get money in your real account.
The entry fee and the number of participants determine the prize pool. In the end, whoever makes the maximum amount in the tournament account gets the largest share of the prize pool.
How To Participate In The IQ Option Tournament?
Traders can earn up to 10,000 USD by winning tournaments in IQ Option. On top of that, some of these contests are free or require the user to invest a mere 2 USD.
Participating in such tournaments helps users find more investments and learn how they match up against other traders.
To participate in an IQ Option tournament, traders must follow these steps:
- Register on the official IQ Option website and fill in your personal information and bank details to make a real account.
- Go to the tournaments page on the website.
- Choose a tournament to take part in by reading the rules, prize pool, and other information.
- If requested, pay the entry fee and join other traders in the competition.
Make sure to note down the time when the tournaments begin and start trading to earn profits and, hopefully, a cash prize! However, before picking a competition to earn rewards, it's crucial to learn about the rules and regulations of the tournament.
How Does The IQ Option Tournament Work?
Traders can participate in tournaments, but they need an IQ Option real account. Usually, to become one of the participants, you have to pay an entry fee which ranges from as little as 2 USD to 10 USD. However, the trading platform also hosts free tournaments for everyone to experience the thrill of the competition.
IQ Option provides participants with a 10,000 USD account to invest in assets in the tournament. Each user gets the same amount at the beginning of the trading contest. Whoever trades assets and gains the most profit during the competition wins. However, traders can only choose from the binary options provided to them.
The trading process in the tournament doesn't have any restrictions and is the same as regular trading on the platform. Even better, the competition allows rebuys to add money to the account but only if your current balance is less than the opening balance.
What Tournament Types Can You Participate In On IQ Option?
Traders can compete against other users in three different types of tournaments depending on how confident they're feeling.
They are:
1. Common Tournaments
These are regular tournaments held by IQ Option to compete against other professional traders. Users have to pay an entry fee to participate in the competition. IQ Option will put 60-80% of the fee towards the prize pool. In other words, the higher prize pool means more participants.
These tournaments are perfect for trading professionals to face off against regular users of IQ Option. Users can browse through these tournaments and find out where they have the best chance to earn additional money.
2. Free Tournaments
Beginners who don't feel comfortable investing real money can partake in a free weekly investment contest. As a result, you can experience the thrill of real competition without the risk of losing money. It's also a great way to practice before entering real tournaments.
However, it's not easy to win as there are a lot of participants in free tournaments. If you're playing to win, enter paid tournaments as there are lesser people, and therefore, you have more chances of winning.
3. Special Tournaments
IQ Option holds unique or special tournaments that feature an additional prize pool. Typically, these competitions appear during holidays like Halloween or sports events like the Champions League in football. They are similar to paid tournaments, but they often attract more participants.
Examples Of IQ Option Tournaments
Users can participate in various tournaments with different rules and entry fees. Traders need to understand how these contests function to increase their chances of earning money. Here are some regularly held IQ Option tournaments:
#1. 72 Hours Tournament
In this tournament, each trader is provided with a 100 USD account to try and earn profit. The winners will have their tournament prize credited to their real account. Users can join the tournament for 2 USD, similar to the rebuy amount. The prize pool is 5,000 USD, and it increases as more participants pay the entry fee.
#2. Binary Boss Tournament
This tournament attracts thousands of traders because it's a 50,000 USD prize pool. You can enter the Binary Boss tournament by paying the 20 USD fee, of which 80% is transferred to the prize pool. These types of tournaments attract the most experienced traders on the platform.
#3. Trick or Trade
IQ Option traders can participate in this Halloween tournament for free. It boasts a 2,000 USD prize pool. IQ Option also has a paid version of this tournament with a 15,000 USD prize pool and a 4 USD entry fee. Beginners can join in these free tournaments to get the hang of how the features work without risking any money.
IQ Option Leaderboard
At the start of the tournament, IQ Option creates a notable leaderboard to display the highest earners during the trading contest. Every participant can view the leaderboard and get an idea of how much profit they need to be on top.
Those who have a practice account can also view the leaderboard to learn how much money they can make by winning. It helps to create transparency among traders.
Above that, it specifies how IQ Option will distribute the prize pool among traders. The prizes might also increase depending on the number of participants during the tournament.
FAQ'S
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Yes, in IQ Option tournaments, you'll be able to refill your tournament balance by re-paying the entry fee with real money. But, it only applies to competitions that allow rebuys. If the competition permits it and your starting balance is 50 USD, you can click 'Rebuy' to turn your tournament balance to 100 USD.
The number of rebuys during a tournament is unlimited, but only if your current balance and open positions are less than your starting balance. In other words, rebuys are helpful if you've had a bad start and want a second chance at winning. Also, IQ Option will add the rebuy amount into the prize pool.
Users can trade any assets and invest in funds available in IQ Option during tournaments. But, they won't receive any of the profits made on the tournament account.
During competitions, the assets you can trade include 54 options, 41 forex pairs, 179 stocks, 26 cryptocurrencies, 4 commodities, and 23 ETFs. Traders can choose the periods and the sum of investment in assets by themselves. All in all, tournaments also give traders the freedom to research and trade assets without risky investments.
Participants can check their position in IQ Option tournaments by looking at the IQ Option leaderboard. It also displays the highest earners of the competition to give traders an idea of how much they need to earn to reach the top of the leaderboard.
Traders can plan strategies based on the leaderboard, so make sure to check it out often, especially in one-day tournaments.
To win an IQ Option tournament, a trader must earn the highest profit compared to other participants. Depending on the tournament format, you have to be among the top 9 to 30 people to gain money from the prize pool.
To check this, open the leaderboard to see the rewards traders gain from each position in the competition. It also reveals your ranking against other participants and informs how much profit is needed to reach the top.
Traders can only access their tournament account during the time of the competition. Users can find out when the competition starts by checking the Tournaments section on the left side of the main menu.
Traders can only execute their plans and investments during the tournament, so keep an eye out for the timer. Once the competition ends, participants can't partake in any account activity, and their final score will remain the same on the leaderboard.
The leaderboard shows traders on their list to display the prize money others can get from winning. Additionally, the traders on the list are random, meaning they don't have any advantage over others.
Once the tournament begins, the leaderboard will accurately display the highest earners on the list. It'll also constantly update as participants continue trading throughout the contest.
Conclusion
Trading tournaments are a fantastic way to take a small risk financially and gain the opportunity of obtaining big rewards. Usually, it's hard to earn around 5,000 USD to 10,000 USD by just trading binary options. Thus, why not opt for IQ Option tournaments?
In other words, it's a viable option for both beginners and experienced traders.
Risk Warning:
We do not provide any investment advice and we are not responsible for any losses caused by your trading activity.
Fixed time trading and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how online trading works and whether you can afford to take the high risk of losing your money.
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