Tournaments are a fun way to practice your trading skills, beat other traders and win some money. They are one of the best ways to apply your trading skills, since they often have a small entry fee and a large prize pool. Some IQ Option tournaments are free, but generally the entry fee is around $2-$4 depending on the tournament, its length and prize pool.
If you’ve never tried them, you are seriously missing out. Read about tournaments’ rules and don’t hesitate to immediately sign up for one or two — you will definitely enjoy the rush and the excitement of trading against other users.
What is an IQ Option tournament?
Tournaments are available to traders of the IQ Option platform. They are trading competitions held on Binary and Digital options. The winners, who managed to increase their tournament balance the most, will share the prize pool and receive the share they won to their real balance. Normally, depending on the tournament, the prize pool can fluctuate between $1,500 and $10,000 depending on the tournament and the conditions.
IQ Option tournaments rules
The tournament rules are the following:
- Traders enter an IQ tournament and pay the participation fee. Part of the entry fee is transferred to the tournament’s prize pool.
- Each trader is provided with a tournament balance (equal for everyone). Depending on the tournament, it may be $100, $1,000 or $10,000: this amount is credited on the special tournament balance. Traders can use this money to trade in the tournament, but they can’t withdraw it.
- Traders use the tournaments balance money to trade Binary or Digital options. The main goal is to earn as much as possible and increase the tournament balance.
- Those traders who are at the top in terms of their balance will become the winners of the tournament.
- The number of winners is stated in the rules of each tournament. The prize pool is distributed among the winners, according to the prize pool distribution of the tournament.
- The amount each winner won will be credited to their real balance, which traders can withdraw from the platform or use for trading on the real balance.
An example of prize pool distribution
Each tournament will have its own prize distribution rules, so it is best to check the exact tournament you are interested in on the tournaments page: https://iqoption.com/en/tournaments. As an example, let’s take a look at the IQ Launch tournament.
The IQ Launch tournament distributes the prize pool among 30 winners, so there are plenty of chances to win.
The prize pool of $10,000 is split between the top 30 traders, with the first place receiving $567, second place $551 and so on.
The IQ Launch currently has an entry fee of $4, which means that even if you take the last winning place with the prize share of $105, you will still gain 26 times more.
Can I refill my IQ Option tournament balance?
In most IQ Option tournaments, an option of a Rebuy is available. A trader can use this option if their balance is less than the initial tournament balance. The cost of a Rebuy is normally equal to the entry fee (for instance, if the entry fee is $2, the Rebuy will cost $2 as well). The Rebuy option is available as many times as needed, if the trader’s tournament balance is smaller than the initial amount.
How can I check my position in IQ Option tournaments?
You will be able to see your position in the tournament leaderboard after it has begun. Before the start, the leaderboard, as well as the winners, show random results.
Are there any free trading tournaments?
IQ Option sometimes holds free trading tournaments. But the entry fee is quite low for paid events as well— around $2-$4 depending on the tournament, its length and prize pool.
How to win an IQ Option tournament?
As was mentioned, the tournaments are held on two instruments — Binary and Digital options. In order to win in a tournament, it is necessary to learn how to use them and find a strong trading strategy that works for you. To prepare for a tournament, you can read the following materials:
- How to Trade Binary Options?
- Vortex Strategy for Binary Options Trading
- Trading Digital Options: the Ultimate Guide
