简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:Would you say that your broker has ripped you off? If so, then you're certainly not alone.
While scammers are a problem whenever there are plenty of transactions, the currency market is especially susceptible. Although authorities keep cautioning investors to stay away from suspicious brokers, you must also exercise due care while selecting a forex broker. Here, we expose IQ Option, a fraudulent forex broker.
IQ Option - A Quick Summary
Founded in 2013, IQ Option (https://iqoption.com/en) is headquartered in St. Vincent and Grenadines. Incepted as a pure binary options firm, the broker has expanded its offerings to include forex, commodities, equities, indices, ETFs, and cryptocurrency trading for retail clients. The company does not feature third-party trading software but provides its custom-built trading platform where customers may look for trading possibilities. The minimum amount to open an account with the firm is $10. The broker also provides clients access to a learning center to aid their development.
Is IQ Option Regulated?
IQ Option is registered with SVGFSA and complies with CySEC regulations. In addition, brokers with similar names also appear in the VFSC register, but no other information is available, such as a website or a contact.
Clients Feedback
Investors generally speak badly about IQ Option. Some customers complained about the broker's lack of openness in deal executions, while most complaints focused on the company's withdrawal policies. Clients claim that the broker manipulates prices to make them lose money.
How does IQ Option Scam Clients?
Despite being a regulated broker, the company appears to follow the same strategy as many other scam entities do. When a client opens an account with the broker, it starts taking follow-ups via email and phone. According to clients, the person in contact claims to be your account manager and asks you for deposits. Even if you deny it for the first time, the company keeps pushing unless you fund your account. The broker takes every chance to lure you into false profit-making schemes and promises unrealistic returns.
However, it starts behaving quite the opposite after receiving funds from you. In addition to ceasing communicating with you, it sometimes blocks access to your account. Many clients have reported that they could never withdraw their funds from the company.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
Maxim Group LLC has reached a settlement with the Financial Industry Regulatory Authority (FINRA), agreeing to pay a fine of $75,000 due to violations related to their reporting practices. This fine comes in the wake of insufficient disclosures in the firm’s public quarterly reports on the handling of customer orders in National Market System (NMS) securities.
Choosing a reliable broker is crucial for both novice and experienced traders. Emarlado, a forex broker registered in Saint Lucia, has emerged in the market over the past two years, offering a variety of trading instruments ranging from currency pairs and stocks to cryptocurrencies, commodities, and indices. However, recent developments have raised concerns about the legitimacy of this broker, prompting many to question whether Emarlado is suspected of fraud.
Swissquote introduces fractional shares and crypto trading, offering affordable and flexible investment options with a new saving plan for diversified portfolios.
Elite Pro Markets is an unregulated, inaccessible Forex broker with no physical office. Rated 1.5 on WikiFX, it's a scam you should avoid.