Abstract：Platforms like IQ Option, even after being regulated and holding a valid license, have been falling short in meeting the traders’ expectations and safeguarding their funds. What is more concerning is instead they have been found to be opting scammy practices and wiping away the traders’ accounts and funds.
IQ Option faces serious allegations with traders accusing it of fraud and scam, leading to questions like -
- Is IQ Options claim of fair trading just a false illusion?
- Are regulated brokers and platforms also not reliable now?
- And finally, in such cases, who to trust and where to head for trading?
Most of such questions will be better answered as we move ahead with this exposure on IQ Option and an analysis of its operations.
What WikiFX‘s Analysis of IQ Option Says?
IQ Option is a CySEC-regulated online trading platform that offers access to 300+ financial instruments, including forex, stocks, commodities, crypto, and ETFs. While it has been operational for over 10 years with an ’AA influence grade and performance surpassing 59.8% of brokers, its trust score remains low at 5.95 due to a rising number of user allegations, which stand at 93 exposure complaints now.
The stats accompany a big risk alert for the traders -
Bonus Cancellation by IQ Option Leading to Zero Balance
A trader from Dominica has laid forward a troubling revelation concerning IQ Option, stating that the broker cancelled a bonus and wiped clear their account balance, along with the profit generated and the funds deposited.
Along with their comment, the trader has also added the screenshots as proof, as follows -
The trader also raised concerns about the platforms silent customer support, which proves to be inefficient in providing resolutions.
A Pattern of Scammy Practices
This case is not the only one against IQ Option. In fact, the ratio is quite significant with traders from across the World raising various complaints and concerns and questioning the platforms credibility and reliability. Here are various accusations by the traders against IQ Option:
- Delayed and denied withdrawals
- Suspended and frozen accounts
- Verification obstacles leading to blocked withdrawals
- Profit and data manipulation
- Account hacks and fund losses
Such recurring issues show a pattern of scammy practice that the platform may be engaging in. While there are also some positive user feedbacks, the exposure reports stand as a concerning factor that plays against the platforms long-established credibility and trust.
Conclusion
Traders from all across the World have raised questions on IQ Option and its operations, and there is a wide set of issues that traders have been facing with it. It is not only accused of scam and fraud, but its customer support service is also ignorant of traders complaints and contact requests.
Traders are advised to approach IQ Option with caution and verify all the practices before making any huge investments in it. For further safety, traders can also test early withdrawals and should always maintain a record of all transactions for any discrepancies.
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