IQ Option Blew Up Indian Investor’s US$2,600 Trading Account

Investors are not suggested to trade at the platform of unfamiliar brokers, unless they're 100% sure about the broker's compliance. Many people, whether beginners or experienced brokers, think that it is possible to decide a broker's credibility through broker reviews online, but such an approach is not always a good idea. Yesterday, a forex scam victim from India told WikiFX about how he was defrauded. His experience shows that the Internet is very deceptive, and favorable comments and good reputation of a broker may simply be the results of broker's advertising efforts.

Complainant: i ** a

Complained broker: IQ Option

Investor's account balance: US$2,600

Cause of complaint: broker deliberately blew up investor's account

Investor's request: recover invested funds

Victim contacted WikiFX to expose IQ Option

The victim met a South African guy named Sydney on social media. After getting acquainted with each other, the guy claimed himself to be an account manager of IQ Option, a broker with over 20 million registered accounts, and said he could help the investor make dozens of dollars everyday if investor open an account through his recommendation and let him trade on investor's behalf. The investor looked up IQ Option online and found many positive reviews. Thinking that he had known Sydney for several months and the latter often shared trading tips and profit screenshots, he entrusted his passwords and trading account with over US$2,000 of balance to Sydney.

However, a few days later, Sydney suddenly “disappeared”, leaving the victim in shock - instead of profiting, his account ended up in negative balance. Currently the victim has called the police. He also revealed the information of this IQ Option account manager as follows:

Sydney Mudau:

SKRILL LOGING DETAILS:

EMAIL: sydney.mudau@yahoo.com

Phone number: +27813175644

IQ Option:

Email: thebinariens@gmail.com

Passwords: Thebinariens @ 123

Sydney's details were revealed

By checking WikiFX App, we see that the broker IQ Option is rated at 5.89. It is worth noting WikiFX has received plenty of complaints against the broker in the past 3 months. As of WikiFX's press release, there are still many victims in South Asia and Africa (Nigeria) reporting against IQ Option. Investors should watch out for this broker! Remember to check the qualification of a broker on WikiFX App before depositing, lest you suffer losses from scam brokers!

So far, WikiFX App has included profiles of more than 17,000 forex brokers around the world, while integrating broker information query, exposure, news feed and other functions to offer investors better protections in forex trading.

To report illegal brokers, please contact WikiFX official customer service at wikifx@wikifx.com.

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https://www.wikifx.com/in_en/download.html