0

Guide to IQ Option Tournaments

One of the features that make IQ Option stand out is their tournaments. These pit traders against each other competing to earn a piece of the prize money. Besides being fun to participate in, IQ Option tournaments allow you to test your trading skills. They’re also a great way to make tons of cash prizes with a little investment.

How IQ Option tournaments work

IQ Option will regularly announce upcoming tournaments on their website. You can also get information regarding upcoming tournaments through your trading interface. Simply click on the “Tournaments” feature on the left of your trading interface. Tournaments will run for 1 day to 1 month. The entry fee ranges between $2 to $20 depending on the duration and the prize pool.

You can only trade options in IQ Option tournaments

To join, you’ll be required to invest an entry fee. A percentage of this fee – typically between 60% and 80% is placed into the prize pool.

Once, you’re registered, IQ Option will create a special tournament account with a fixed amount. All tournament participants will get the same amount to trade with. Your primary goal is to grow your account balance over the tournament period.

At the start of the tournament, IQ Option creates a special leaderboard. This can be viewed by all tournament participants. It’s main purpose is to show who’s made how much money in their tournament account. It also promotes transparency.

Leaderboard at IQ Option tournament

IQ Option also states how the prize pool will be distributed. For example, among the first 10 participants. Your goal therefore is to be ranked among the first 10 participants. The person who makes the most money on their tournament account gets the largest share of the prize pool. However, this amount isn’t fixed. How much you’ll be awarded depends on how much you’ve made in your account.

Prize pool distribution

IQ Option allows unlimited rebuys. A rebuy is simply a deposit made to your tournament account using real money. For example, if the tournament account has $100, you can rebuy by depositing $100 from your real account. Your tournament account balance will therefore be $200. The rebuy amount is added to the prize pool.

Note that rebuys are only permitted if the current balance and profit from open positions is less than the starting balance.

If you’re among the winners, your prize money will be automatically deposited to your real account.

That’s it about IQ Option tournaments. Have you participated in any tournament on the platform? How did you perform. Kindly share your views in the comments section below.

Good luck!

Top 5 Trending

Unlocking the Secret Code of the Market: The Diamond Chart Patterns

Forget Tiffany’s—there’s a diamond that traders treasure even more. Diamond chart patterns may not sit on a ring, but they… [Read More]

Psychological Line Indicator: Trading Strategies & Tips
Psychological Line Indicator: Trading Strategies and Tips

The Psychological Line (PSY) Indicator is a versatile, oscillator-type trading tool that compares the number of periods with positive price… [Read More]

Boost Your Trading Strategy with the Relative Vigor Index (RVI)

Have you ever felt like your trading approach could benefit from a little extra energy? That’s where the Relative Vigor… [Read More]

A Comprehensive Guide to OTC Trading for Weekend and After-Hours Traders

Can’t wait for the markets to reopen on Monday? Whether your weekdays are packed or you want to trade on… [Read More]

Best indicators for binary options
Top 5 Indicators for Binary Options: Key Strategies with Examples

In the high-stakes world of binary options trading, having the right indicators on hand can be the difference between a… [Read More]

jordan