In our opinion IQ Option (Risk warning: Your capital might be at risk) remains one of the best brokers for binary options and CFDs. The broker offers an unlimited and free demo account, which still is not a standard, at least not in the binary options industry.
IQ Option has been ahead of its competition not only thanks to the demo, but also thanks to the trading platform. Now it is about to make a leap forward by integrating a cryptocurrency solution called Open Trading Network (OTN).
Open Trading Network
OTN is a 100% collateralized decentralized exchange which will allow secure exchange between different blockchain networks.
Individuals will get access to a multi-currency online wallet to store and exchange assets. Businesses will get access to ready-to-use smart contracts, issue of tokens and integrated payments functions. The OTN exchange will allow cryptocurrency trading.
OTN token, OTN coin
The native coin of the Open Trading Network will be the OTN coin. However, the network is still in development, so the foundation will first issue OTN tokens based on the ERC20 standard. Later it will be possible to exchange OTN tokens for OTN coins.
Users can hold the OTN cryptocurrency not only for speculative purposes, but they will also be able to use it for paying trading fees in the IQ Option platform.
How to get OTN tokens for free
Starting October 9 and for the following 104 weeks OTN tokens will be given for free to users of the IQ Option (Risk warning: Your capital might be at risk) platform who trade Crypto instruments. The amount of tokens for each user will be determined based on the total volume of fees they paid during one week.
The first week 350,000 OTN tokens will be issued and given to IQ Option traders, meanwhile every following week the number of issued tokens will be lower and lower.
Getting a new cryptocurrency of an ambitious project as a reward for trading seems to be an interesting opportunity. But don’t trade only to get the tokens.
Financial trading is risky and you can not only make, but also lose money. Therefore trade only when you are ready, when you understand all the risks, when you know what you are doing and when you are persuaded that your trading system works.