How to use a free IQ Option demo account in the Philippines
Since 2013, IQ Option has become one of the most advanced intermediaries. The rapid growth of the said broker is due to a huge selection of bidding assets, availability of teaching materials, a convenient framework interface and other factors.
In which countries can the IQ Option framework be used?
The intermediary`s activities are regulated by CySEC. This entails that traders from most European countries and some other regions can employ its services. Some financial instruments are exclusively available to residents in certain countries, including the Philippines.
Seven reasons to trade in the Philippines
Trading is a business. By principle, it is beneficial to do business in the Philippines. The said country is one of the most promising in Southeast Asia, to which analysts call its economy a "Rising Asian Tiger". Over the past few years, the nation had been several times ahead of its neighbors in terms of GDP growth. Its secret is pretty simple. As with neighboring countries, the Philippines is mainly comprised of a young population and a growing middle class, and its economy depends more on domestic consumption rather than imports. In particular, here are the reasons:
Reason 1: Fast growing economy
Philippines overtakes even China in terms of economic growth. Their respective per capita GDP growth rates speak for themselves.
The largest analytical agencies worldwide have assigned this country a good investment reliability rating. Its currency, the Philippine Peso, also behaves quite confidently, although it loses to its neighboring counterparts when it comes to dynamics. Regardless, it is still quite easy to navigate the prices in Philippine pesos.
Reason 2: Young and growing population
The average age of the country’s population is 23. Hence, there are many Filipinos belonging to the working age. An affordable workforce is an excellent foundation for sustainable business in the Philippines. In addition, one can see that the country's population has a steady upward trend. Its growth rate is approximately two percent (2%) per year. Considering the per capita GDP growth previously mentioned, this denotes an increase in purchasing power in the domestic market, especially in the foreseeable future.
The state further supports foreign companies in hiring Filipinos. An enterprise with 50 or more Filipino employees receive benefits in the form of minimum authorized capital.
Reason 3: Filipinos are fluent in English
In building business processes, it is very important to speak the same language with those by partners and subordinates. In the Philippines, one can freely communicate and comprehend in English because it is the second official language in the country. One can communicate in English both in cities and in rural areas, unlike in China or Thailand.
In outsourcing businesses, tangible risks are seriously considered. Therefore, in choosing an outsource partner, it is better to use the services in the Philippines.
Reason 4: Infrastructure investments
The policy of the current Philippine government, headed by President Duterte, is to infuse liquidity into infrastructure projects. This is currently underway, and is expected to develop at least until 2020. Most of the funds are invested in improving transportation and accessibility. Some are invested in social and water-based infrastructure. A direct consequence of this infusion of tens of billions of dollars is the creation of new jobs, an increase in the flow of goods, a decrease in transportation costs and an increase in the country's competitiveness within the Asian market.
Reason 5: Stable domestic consumption
Eighty percent (80%) of the Philippine gross domestic product (GDP) consists of goods and services consumed in the domestic market. Among the primary ones are food and transport. Retail is a very developed sector of the country’s economy. It attracts the attention of foreign investors and further stimulates the flow of liquidity into the country. Even if domestic consumption does not grow at a comparable pace, it still allows the country to be less dependent in the prices of exported products.
Reason 6: Foreign direct investment
The volume of foreign investment entering the country is growing, even exceeding the forecasts of the Central Bank. Most funds are invested by manufacturers from the United States, Hong Kong, Singapore and Taiwan. The main investment areas include:
- real estate purchase;
- recreation and entertainment; and,
- financial and insurance sectors.
There are some businesses that are not available to foreign investors. Moreover, in some areas, additional requirements are established to ensure a paid authorized capital.
Reason 7: Government initiatives
The Philippines has a program for the development of its innovative services to simplify the access of Filipinos to both state and municipal services. This policy is a consistent pursuit to reduce bureaucratization. Information and communications services among various government agencies are developing.
In addition, a reform plan has been developed up to 2022. Among other things, it is planned:
- to enable a more fair tax system;
- to work in improving market competition; and,
- to facilitate business.
IQ Option free demo account in the Philippines
It has been mentioned more than once about such a beneficial thing as an IQ Option Demo account, and now it is time to discuss it in detail. Maybe at first glance, the demo account is not that important and it seems like it is completely unnecessary for future use. Such notion is absolutely wrong. It all starts with a demo account; one checks a broker through a demo account to test its strategies. Every trader can be able to use it; otherwise, annoying misunderstandings and troubles will not be left alone.
IQ Option free demo account is available in Android, iOS and PC platforms. One may independently conclude several deals in a free demo mode in order to personally familiarize himself with the bidding capabilities of the framework. It is indeed a great place to start a bidding career. One can always replenish the account balance through virtual currency if it falls below $5000.
Why does one need a demo account?
The demo mode can also be called a forex simulator. Itis similar to a trader register entry, wherein does not have real money, but rather virtual ones drawn on screen. Any person can use this money for bidding as he pleases, without fear that he may lose something. Indeed, there is no risk present.
This is a tool for checking intermediaries. This is definitely provided for free, but there are some restrictions.
This mode is only for getting acquainted with the product. We open deals as we evaluate framework navigation, user-friendly interfaces and overall impression. If you really like every feature of the demo account, it only remains to check the accuracy of quotes assured by the framework.
The difference: IQ Option Demo vs real account
Some newcomers to bidding comment that almost every deal closes positively in a demo, but as soon as they switch to a real register entry, the intermediary immediately starts working against them.
In fact, this is a problem in the psychology of bidding. In a demo mode, we all do good, because we do not generally follow any rules in money management. If all funds in the register entry run out, a trader can just press a button for replenishment, update the balance and continue to navigate further through the demo spaces of binaries.
Meanwhile, in a real account, a trader is worried about every penny, with no magic button to update the balance. On a real register entry, emotions now come into play.
Most people use a demo account as a game. Here, a small amount can very quickly increase to a larger one. One should therefore understand that this acts as a game.
If a person treats binary bidding as something boring and uninteresting, nothing will come out of it.
The demo mode is particularly needed in order to try it out without using real funds. If a person tries and does not like it, then he may leave so without spending a single centavo.
All strategies are tested in the demo account. There are strategies that give a large percentage of positive deals so you can earn accordingly.
How much time should one stay on demo mode?
It is impossible to provide an unambiguous answer here, but there is no sense in staying in an IQ option demo account.
First of all, one must decide how much one should invest in a real register entry. One may choose a strategy by which he intends to learn how to earn.
Thus, bidding according to strategy, one may spend 2-3 weeks on a demo mode. If this is quite long and he is not ready to spend so much time in the initial training, nothing good may come out of it.
However, if in 2-3 weeks, some benefits start to turn out, then one can safely switch to a real account. BUT! On a real account, bidding should start with the same amount and with the same strategy.
Why does one need to work out a winning strategy in using IQ Option online demo?
In a real account, emotions as mentioned will become connected to trading. At first, mistakes are inevitable; mistakes come to terms with this, and it is better that they be worked out on a small input. Mistakes and failures are part of any successful bidding; the secret here is that profits from successful trades will cover losses from unsuccessful one.
The fact is that there are dishonest brokers who tighten prices in their direction, intentionally closing traders` transactions at a loss. Therefore, in order not to fall for such a broker, one needs to open a deal in a demo account and open the same chart in a third-party site. He must follow the prices in the terminal with an open transaction and on a third-party site. It is advisable to open a deal for 5-10 minutes; this time is enough to see the price go the same way, or if there is a very strong discrepancy.
Real IQ practice using IQ Option demo download
By continuing to trade in a real account, the trader gradually gets used to the amount of transactions and the framework,. He then begins to attain experience that can only be gained by trading with real money.
In a demo account, we do not learn how to bid; we only learn the strategy while getting used to the framework. The real training begins after the first deal in a minus.
When you obtain losses, you start to think about why it happened. When you make profits, you do not think at all why you got it. You simply consider yourself a genius, and you will be a genius until the next losing trade comes in, which again makes you think and draw a lesson from that mistake.
Therefore, start with a demo account, learn everything, then smoothly and leisurely move to a real account. You do not need to immediately throw hundreds of thousands into the account. Start with a minimum, and increase this amount by 3, 5, or 10 times; during this time, you will have more experience, and likewise more money into your account. Thereafter, switch to larger amounts, but not many times larger; gradually, the amount traded should be comfortable for you.