The popularity of binary trading has been growing rapidly among investors of all levels. Apart from attracting investors from other sectors, binary trading has been a good choice for people who have never invested in any market before. The word “Binary” means zero or one. So, in binary trading, you will have two options – earning some money or losing the whole amount you have invested. Unlike many other option trading platforms, IQ Option helps you identify the highly profitable assets and avoid making loses without leaving the trading platform. To know the profitable trades, you just need to use IQ Option Leaderboard feature.
So, what is the IQ Option Leaderboard feature?
IQ Option Leaderboard is a feature that helps you know whether the trades you are about to select are profitable or not and whether there are people who have been making money from them. In fact, you will agree with me that the process of tracking down other traders to know whether the trades they choose to help them make any profits can be a challenge. And if you get them, they will avoid any discussions relating to their earnings because they might be uncomfortable with exposing their financial details. The leaderboard is one of the unique features from IQ Option that make the platform more beneficial for traders of all levels.
The Leaderboard displays the traders who have made the largest amount of money within the last week. The platform arranges all of them in descending order and therefore the person with the highest gross income will rank as the first. In addition to the top traders, the Leaderboard will display your rank so that you can know where you are headed to. The feature will help you compare your earnings to those of the other traders and know where you standing.
How to check your ranking on the IQ Option Leaderboard
The Leaderboard feature is situated on the right panel of the trading platform. To start using it, you just need to click on the “Leaderboard” option and the list of top-ranked traders will appear. Your name will also appear at the top of the list in addition to your current worldwide ranking.
Apart from showing you how your earnings compare to those of other traders from all parts of the world, you will also be able to compare the earnings against those of the traders within your country. To do the comparison, click on the drop-down tab named “Worldwide” and choose “In your country” option.
To find out the countries that have highly profitable traders, you have to click on the drop-down menu named “Worldwide” and choose the country that shows up as the first. You will realize that the Leaderboard ranks countries with highly profitable traders from number 1 to number 10. Your work is to scroll down the list to know where your country ranks. The option will show you the countries with top traders on the IQ Option.
To identify the most profitable assets and those that most profitable traders are trading, you just need the Leaderboard feature. Research shows that successful traders have the ability to identify the profitable asset classes and those that can earn them more money within a short period. To identify the assets, hover your cursor over a specific trader.
IQ Option will form a popup window showing the name of the trader, the account type and the gross profit and all the assets they are trading. Remember that the traders might be trading on practice accounts. If that is the case, the IQ Option will display that on the window.
The Leaderboard feature ensures that you will never miss any trading opportunities. You just need a good device and internet connection to trade commodities, currencies, indices and stocks from any place. You can do your predictions without leaving the site and make huge profits at the end of the day.
Why use the Leaderboard feature
Binary trading is a very new method of trading and a very exciting one. With IQ Option Leaderboard, your trading will be easier. You will just need to track the highly ranked traders and the trades that help them rank high. That will also help you predict whether underlying assets are likely to decrease or increase in the future.
Binary options trading involve many rules. With the Leaderboard feature, you do not have to worry about tracking many indicators and charts because you will have everything in one place. But because nothing is perfect, you should expect a few flaws during your trading. One of the drawbacks of this feature is that it displays only the gross profits and it does not consider the losses. IQ Option is not available in Canada, USA, Australia, Russia, Japan, France, Turkey, Belgium, Iran, Israel, Sudan and Syria. Overall, the feature will help you remain safe.
Things to keep in mind when using the IQ Option Leaderboard
When using the IQ Option Leaderboard, you have to keep in mind that it displays the gross profit alone. In other words, it will only show you a total of all the profitable trades the trader has made. It will not consider the losing trades, meaning that all the displayed earnings might be higher than the net profit of the trader.
Moreover, people without a real trading account can also access the IQ Option Leaderboard – the profits resulting from practice accounts are never considered. That means only the people trading with real money accounts will appear on the list the Leaderboard shows.
Conclusion
IQ Option is among the highly versatile platforms and it offers a very wide range of features and trading options suitable for diversified traders and professionals. The Leaderboard feature is among the things that have made this platform more popular today. The number of users is also increasing day after day.
In addition to the Leaderboard feature, you will have access to webinars, through which you will learn many new things. Up to now, no other broker websites match the rebate and payout ratios of IQ Option. Even more, the site allows users to begin with deposits as less as $10. Their customer support is available 24/7.
