Beware of IQ Option: A Regulated Broker Thas Has A Lot Of Scam Complaints

Would you say your broker cheated you？ If that's the case, you're not alone. While fraudsters are an issue anywhere there are a lot of transactions, the currency market is particularly vulnerable. Although regulators continue to warn investors to avoid shady brokers, you must also take caution when picking a forex broker. In this article, we will expose IQ Option, a scam forex broker.

A Brief Overview of the IQ Option

IQ Option (https://iqoption.com/en) was founded in 2013 and is based in St. Vincent and the Grenadines. Founded as a binary options broker, the broker has now extended its operations to include forex, commodities, stocks, indices, ETFs, and cryptocurrency trading for retail customers. The firm does not use third-party trading software and instead offers its own custom-built trading platform where consumers may explore trading opportunities. The minimum deposit to start an account with the business is $10. Clients may also use the broker's learning center to further their education.

Is IQ Option regulated？

IQ Option is SVGFSA registered and follows CySEC standards. Furthermore, brokers with identical names exist in the VFSC record, but no other information, such as a website or contact information, is accessible.

Client Response

IQ Option is usually panned by investors. Some clients complained about the broker's lack of transparency in transaction executions, while the majority of complaints centered on the company's withdrawal policy. Clients complain that the broker manipulates prices to cause them to lose money.

How Does IQ Option Scam Clients？

Despite being a registered broker, the organization seems to use the same method as many other fraudulent companies. When a customer creates an account with the broker, it begins accepting follow-ups by email and phone. According to customers, the individual in touch pretends to be your account manager and requests deposits. Even if you refuse it for the first time, the corporation will continue to press you until you fill out your account. The broker uses every opportunity to get you into fraudulent profit-making schemes and offers unrealistic profits.

However, after getting cash from you, it begins to act rather differently. It occasionally disables access to your account in addition to terminating contact with you. Many consumers have stated that they were unable to withdraw their monies from the firm.

More information on IQ Option may be found on the WikiFX Dealer Page: https://www.wikifx.com/en/dealer/9941528702.html

About WikiFX

WikiFX is a worldwide corporate financial information search engine. Its primary duty is to give basic information searching, regulatory license seeking, credit assessment, platform identification, and other services to the included foreign exchange trading firms.

The app has lists of approximately 39,000 brokers, both regulated and unregulated. WikiFX's staff has been working hard with 30 financial regulators from across the world to guarantee that the information supplied is factual and correct.

Bottom Line

Always double-check the facts with forex authorities and establish a broker's regulatory status on the website of the relevant regulator before joining up with it. And, although you may find multiple excellent testimonials about your potential broker on various websites, you should be wary of leaning too much on evaluations without confirming the content.

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