IQ Option recently added classic options to its platform. How it's working?

I compared some time ago binary options with forex. While analyzing these two seemingly similar types of earning, I came to the conclusion that, in fact, most people who invest in binary options do not see the basic differences between binary options and forex. Today, the topic is back because Classic Options is really built-in Forex in the binary options platform.

Basic features of classic options:

• Long-term plays
• Unlimited earnings
• You can lose up to 100% of the amount invested
• You can resell your options at any time

The first thing we need to do is choose the asset that interests us. Do not pay attention to the fact that there are no classic options available on the screen above. I am writing this when the market is closed and nothing is available anymore. During normal hours you will be able to choose what you want to invest on.

After selecting the asset you are interested in, your chart should look similar to the one in the attached picture. As you probably noticed, the interface's appearance has changed a bit - there are 5 lines on the graph (which I will talk about later) and the functions on the bar on the right have changed.

Date - It is simply the expiry date of the option. We open positions for at least a few days.

Strike - these are the levels I have mentioned, visible on the chart. What do they mean? These are the levels responsible for the risk. We can set how risky option we want to open. Of course, the higher the risk, the higher the earnings. How it's working?

• If you play for growth: the higher the level you choose, the higher the risk.
• If you play for a relegation: The lower the level you choose, the higher the risk.

Options - this is the number of options we want to "buy". Remember that this is not the amount we invest. The more options we buy, the greater the investment amount will be. You can check the current investment rate by looking at the PUT and CALL buttons.

If you hover your mouse over the CALL or PUT option, you will see a graph that shows how much you will earn when the price reaches a certain level. The moment the green zone begins, you start earning money. However, if the price is in the red zone - you are losing money. Note that we can see the percentages on the left and right. What does it mean?

• The percentage on the left shows how much you will earn after reselling the option
• The percentage on the right shows how much you will earn after the option's expiry date

The option of reselling options entered IQ Option some time ago, but it must be admitted that it is extremely useful when investing on classic options. We don't have to wait a few days for the position to expire - we can resell the option when we think we have earned enough. It also works the other way around - it can help offset the losses.

In the picture above, you can see the recently opened items pane. All you have to do is click on "Show Options" and choose to resell your open position.

Classic Options look really promising

I have to admit that I liked the classic options very much. I have a few ideas on how to make effective money using this game mode. That's it for now. I hope this post was helpful to you.

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