The full form of APK is Android Package Kit. The file format is used by Android in order to distribute and install its apps. Android apps are commonly available at Google Play Store where you can also find the regular IQ Option Android app. However, IQ Option Android Mobile app is only available directly from the broker’s site. The reason behind this is that Google Play has some restrictions which do not let the Android mobile apps on Google Pay to support binary options. So, if you want to trade binary options, you will need the APK Android app of the online broker.
IQ Option Android mobile app (APK) provides non-regulated traders with access to all tradable assets of the broker. It means that you can trade digital and binary options, stocks, forex, cryptocurrencies, indices, commodities, and ETF on one single app. Regulated traders are also allowed to trade many of these instruments along with FX options. You may visit the official site of the online broker to download the IQ Option APK App for free. The app offers an excellent user interface with several features. Traders can also easily access market analysis, news, support, and more from this app. The minimum deal size of the IQ Option android mobile app is only $1.
How to trade on the IQ Option APK app
You can trade on any Android device with the IQ Option APK app by following these simple steps:
- Choose the financial instrument you want to trade
Before you start trading with the online broker, you need to select the financial asset from your options of tradable instruments so you can research them and see if the particular asset is suitable for you. The group of assets available on this app are forex, stock CFDs, cryptocurrency CFDs, ETFs, Commodity CFDs, and stock index CFDs. However, you can trade FX options only if you are a regulated trader. Similarly, only non-regulated traders can trade binary options, digital options, OTC binary options, and OTC digital options. Take note that OTC digital and binary options can be traded over weekends when most traditional markets are closed.
- Fund the account with the minimum deposit
To start trading, you must deposit a minimum amount into your trading account. On the IQ Option APK app, the minimum deposit is $10 for regular trading accounts. For VIP trading accounts, it was $3,000 before. Now, it has been reduced to $1,900 only. Keep in mind that VIP accounts are only available for non-regulated traders. While you fund your account, get to know the minimum investment for trading as well. You can trade all instruments except FX options with a minimum investment of only $1. The minimum trade size is $30 on FX options.
- Add leverage to your trade
Leverage trading or margin trading is one of the biggest benefits of trading with IQ Option. By adding leverage to your trade, you can increase your opportunity of earning profits to a great extent. For example, if you set 1:10 leverage for your trade, it means that you can trade $10 worth of asset for every $1 you have in your account. However, be careful when you get into leverage trading because it also increases risks of loss. On IQ Option, the highest leverage available is 1:1000 for non-regulated traders. For regulated traders, the highest leverage is 1:30.
- Learn about the payout percentages
Before you start trading on the IQ Option APK app, you also need to know about the payout percentages that are applicable to options. FX options provide uncapped profitability percentages for successful trades. The magnitude of the price movement is the only factor that limits the potential payout of a certain FX option trade. Payouts on digital options can go up to 900%. The highest payouts on ‘current price profit’ digital options and binary options range between 87% and 92%. The trader may get payouts of more than 92% in exceptional cases.
- Set your expiry time
Expiry times are applicable to special crypto CFDs and options. The expiry time on the option depends on the type of options traded. The 1-minute contract is the shortest duration and the longest duration is a month. You can trade FX options with expiries ranging from 10 to 60 minutes. Remember that you can often enter option contracts late. It means that the actual expiry time can be shorter than what is indicated. Special cryptocurrency CFDs, for example, Bitcoin x100 usually expire at the end of the same day on which you opened the trade.
- Use the indicators and trading tools
The easy user interface of APK apps makes the use of trading tools and indicators easier. The IQ Option APK app is equipped with several technical indicators and trading tools like widgets and chart types. You also have access to a forex calendar, an earnings calendar in the ‘Market Analysis’ section, and news. You may visit the chat section to contact the support team of IQ Option or communicate with other traders. Other useful features of this app include ‘Graphical tools’ that allow you to plot different types of lines on your charts and ‘Price movements’ that alert you about sharp market movements so you can take advantage of the movement immediately.
- Learn from the videos
IQ Option APK app offers videos on several trading topics directly. If the educational content on the website is not enough for you to understand trading, you can watch these videos. It will help you know how to use the app better.
The bottom line
You can use IQ Option’s Android APK app with a fully functional demo account that does not expire. The demo account has all features of a live account and you can switch between the accounts with just a click without exiting the app. You can download it simply on your Android device. If you face any issue with it, the app can also be downloaded to the desktop computer and you can install it on your Android device later.