IQ Option bullied investor by denying withdrawal request

Recently, WikiFX got a complaint about IQ Option from investor, who couldn' t withdraw her money for the Forex broker arbitrarily terminated the service agreement, froze her account and kept on delaying withdrawal requests.

Investor offered WikiFX her ID card to ensure the authenticity of complaint.

As per Ms. Huang' s said, she opened an account in July, 2018 and kept on depositing money to IQ Option. Though she made some loss in trading, the withdrawal service worked normally. Last December, she couldn' t place order at the platform, and submitted withdrawal application for the safety of large sums of money in her account. However, the application has been still “ in progress”by this March, and she cannot get the money back.

Ms. Huang contacted IQ Option several times, who replied that due to her violation of the trading rules, the platform detained her profit, froze the account, and finally terminated the service agreement with her. Meanwhile, Ms. Huang said that she had been losing money without any profit; Moreover, the platform should return her principal legally. But IQ Option didn' t reply anymore.

Until now, Ms. Huang' s withdrawal application still hasn' t been approved.

1. Ms. Huang kept on depositing money to IQ Option from July, 2018.

2. Ms. Huang tried to withdraw the money in her account on December 17th, 2018, but the application has not been approved until now.

3. Meanwhile, Ms. Huang emailed IQ Option about the principal frozen. The broker claimed that she would not get any profit because of violating customer agreement.

4. Ms. Huang pointed out that she had been losing money in trading without any profit. And it was illegal for the platform to retain her principal. She added that if IQ Option cannot provide an acceptable solution, she will seek media attention and even call the police.

5. Without giving further explanation about the withdrawal issue, IQ Option simply told Ms. Huang that they sent the agreement termination notice - their final decision to freeze her account.

To date, Ms. Huang cannot withdraw her money because of account frozen and withdrawal request unapproved.

Risk warning

WikiFX App suggests there' s one risk warning of IQ Option: the platform uses non-MT4/5 trading software, and has considerable risk.

Rated at 5.01 on WikiFX App, IQ Option is in regulation and holds CYSEC(Cyprus)' s MM license. But the broker uses non-MT4/5 software, which can be risky to some extent. In addition, Ms. Huang' s complaint suggests IQ Option claimed to detain her profit due to violation of customer service despite the fact that she had been losing money; Moreover, the platform froze her principal illegally. Investors should watch out for that.

Kind reminder from WikiFX: Carefully check broker' s compliance information before making your investment to avoid risk and loss. Should you encounter issues such as withdrawal failure, keep the evidence and seek media attention or police assistance to protect your rights and interest.