Online trading has become really popular these days and has resulted in many people becoming millionaires. This has attracted the attention of everyone, but sadly, not everyone stands as fair a chance as the others. Of course it is not really easy to get going in the initial stage and it requires a lot of skills to be a fair player and a takeaway for the game. In this article, we will cover everything you need to know in order to gift an online trading account.
NOTE: This article contains affiliate links, which means that we make a commission out of certain purchases made by you without levying additional taxes or charges to you.
What is Online Trading?
Online trading is the process of buying shares of companies or commodities digitally. For example, you can buy a small fraction of a company X for $100, and if the company makes profits and the share price rises to $115, the holder or the owner of the share makes a profit of $15. In the same way, the company can also make a loss, and so, the holder of the stock makes a loss at the same time. There are different types of online trading. A few of them are:
- Stock/Share trading- The process we have discussed is the process of trading stocks. Stocks are fractional ownership shares in a major company.
- Currency Trading- Currency trading has a somewhat similar process. It is the buying and selling of different currencies of different countries in the world and making a profit by trading them.
- Trading Commodities- Trading commodities means buying commodities like crude oil, gold and silver without actually having to buy them physically. You can buy them in the market price and sell them later with whatever price the respective commodity has at that point of time.
- Trading Options- In trading options, the user has to, using technical tools, analyse that whether the price of a certain commodity, stock or currency will go down or go up after a certain amount of time. If the user’s analysis was correct then they make a profit or else they lose the sum of money they had specified.
This is some basic information about trading you need to keep in mind as a sender of the gift. You can learn more about trading stocks if you also would like to get engaged. This article is just meant for information. Online Trading can subject to losses. We are not responsible for any losses held by you in such cases. However, with adequate knowledge and skills, loss can be prevented and for that, you can opt for online courses on this subject.
Why should you gift someone an Online Trading account?
Jumping straight to the benefits of this gift idea,
- Firstly, it can prove too be a life changing idea! They may be able to get a lot of profit.
- Most people do not get started for the fear of losing their savings. By getting some balance as a gift, you can give them a great opportunity to get started.
- It is a unique gift idea. It shows that you’ve got a good taste for business and care for the development of others.
- It can be an easy way for the recipient to get started and gain some experience.
How to know if someone is interested in trading or not
So you’re willing to spend your money on gifting something innovative and beneficial, but how do you know whether they will appreciate or even use it or not? Gifting an Online trading account is a good gift idea only for:
- Someone who is an expert in many technical skills- This is a must.
- Someone who is desperate for an extra income source.
- Someone who is always in search for doing anything new.
- Someone who is going to start a new life, example- student after graduation.
You can come across the fact whether they are interested or not if they have mentioned that they’d like to start trading online. Try asking random questions like “Do you know what online trading is all about?” or “Can you tell me how i can get started?”. If they have a lot of knowledge on this, you can consider this as a great gift idea.
Platform- IQ Options
We surveyed and tested some Online Trading platforms and found IQ Options the best platform for doing everything we need. It has an easy-to-use interface, easy method to be sent as a gift and Low minimum balance. More about the features of this platform later in this article.
IQ Options is a company registered in St. Vincent and the Grenadines and having its registered address at Hinds Building, Kingstown, St. Vincent and the Grenadines. Started in 2008 by Dmitri Zaretsky, it is one of the most reputable platforms in it’s industry. As of 2016, they manage a staggering $11,000,000,000 (11 Billion dollars) worth of trades each month.
IQ Options has been continuously evolving and adding more and more features inn their robust interface. Some distinctive features of this platform are:
- FREE Practice Account- IQ options has an interface in which users can practice trading without spending Real money. This interface has virtual money ($10,000) which can be used to practice in Real-Life market situations. This is a great feature for someone who doesn’t want to start risking their money right away.
- Technical Tools- The IQ options platform has a variety of robust technical analysis tools in the platform. These tools are used by traders to analyse certain market circumstances in order to gain a profit.
- 300+ Assets to invest in- IQ Options has a large amount of the most popular stocks, Currencies, Cryptocurrencies and Commodities.
- Low minimum trade amount and deposit- The minimum deposit is just $10 and you can trade a minimum of just a dollar.
- Easy to Create an Account– You can set up your IQ options account in just 3 steps. That is the reason why IQ Options is one of very few platforms that can be transferred as a gift.
How to Gift a trading account?
Step 1: Create a new Google Account
So first of all, you need to make a fresh New Google account to which, we will link the IQ Options account. If you do not know how to create a Google account, follow the steps below.
Step 1- Go to your phone’s settings-> Accounts.
Step 2- Tap on “+ Add” button and select “Google”.
Step 3- Make a username for the Gmail id and click on “Continue”.
Step 4- Enter the Name and Last Name and a password of your choice. You need to remember the password.
Step 2: Sign Up on IQ Options
Next, you need to download IQ Options on your phone or if you are using a desktop, you can directly Sign Up. Click here to install IQ Options or Sign in.
Step 1- If you are using the app, you will directly bbe able to Sign Up. On a desktop computer, click on the top right “SIGN UP” button.
Step 2- Enter the name of the recipient of the gift. Now enter the same password as the one you used for the Gmail id because it will be convenient for the user.
Step 3- Select the same Google account/ Gmail id which you used to make the account.
Step 3: Deposit Funds
Locate the “Deposit” tab on the main screen. It will take you to a Gateway where you will have to make the Payment. Now you need to specify the amount you want to deposit. Select a payment method from Credit or Debit Cards as well as some popular e-wallets. Choose whichever option is convenient for you. Complete the payment by filling the necessary details.
How much should you deposit?
It is up to you how much you would like to gift. The minimum deposit is as low as $10 (INR 740). It is recommended to deposit at least $50 or INR 3500. However, a low budget can work perfectly fine for someone who may be new to trading. If you’re looking for expensive occasional gifts or for your son/daughter who has completed graduation, we recommend you to deposit $1,000 or INR 50,000.
Step 4: Send Account details to the recipient
The last step is to finally send the gift as a surprise. You need to send the details of the Google Account– The e-mail id and its password along with the password of the IQ option account in whichever way you’d like. For instance, you can send them an e-mail with beautiful quotes and along with it the details. Do not disclose these details with anybody else other than the person. It is recommended to Sign Out of the google account once they have logged into it.
Add-On - Online Course
Apart from just gifting a Trading Account membership, you can also gift an online course dedicated to trading. This will prove to be really beneficial to them. The process of gifting an online course along is similar to the process of gifting the trading account. You need to go to any course provider’s website and then Sign Up with the same E-mail id which you had created earlier.
In any case, whether low budget or high, it is recommended to join Mastermind traders. They have a variety of high quality dedicated courses and many are even FREE. If you are willing to give a more advanced training, The Technical Traders is a great website.