IQ Option Review and Investigation – Is IQ Option SCAM or Not?
IQ Option is a fully regulated binary options, Forex, CFD, and Cryptocurrency broker. Official records show that it owned and managed by Iqoption Europe ltd. Their listed address is Yiannis Nicolaides Business Center, Agiou Athanasiou Avenue 33, 4102, Agios Athanasios, Limassol, Cyprus. The advertised phone number is +44 20 8068 0760, and email address for customer service related questions is: [email protected].
Official Website, Login Page, and Members Area: https://eu.iqoption.com/en
Disclosure: We are NOT acting as affiliates in this genuine IQ Option review hence all information presented to you is factual and impartial.
Licencing (All Verified by Our Researchers):
CySec: License 247/14
Financial Conduct Authority (FCA) in the United Kingdom: 670182
ConSob Italy: 0008204/15
CNMV Spain: Registration Number 3867
BaFin Germany: 141907
Regafi France: 75119
Minimum Deposit: $10
Minimum Account Size: $10
Minimum Trade Amount: $1
Demo Account: Yes
Multi-Language Support: English, German, French, Spanish, Italian.
Accepted Payment and Deposit Methods: Paypal , Credit Cards, Skrill (Moneybookers), Webmoney.
Number of Assets: Over 500
Asset Types: Currencies , Indices, Cryptocurrencies, Stocks, and Commodities
Iq Option offers trading via iPhone, Tablets, i Mac, Android, IOS, and a variety of other smart phones such as Samsung or HTC.
Contract Expiry Times
Assets max expiration time is up to one day. When trading binary options the most popular with traders are short-term contracts like 60 seconds and turbo options which vary from 30 seconds to 5 minutes depending on brokers. The minimum allowed expiration time is 5 minutes on binary and 1 on turbo. OTC trading is also available on IQ Option, which means if you have free time during the weekends and holidays you can use it to trade.
The advertised maximum return is up to 91%, but we highly doubt that and chances are you will lose your money. We will address this issue as we progress with our IQ Option Review.
IQ Option Review
IQ Option is a regulated binary options broker which was founded in Seychelles and later on received a license from CySec. IQ Option is widely considered to be “the broker of choice” for many affiliate websites and blog owners wanting to promote binary options and receive commissions for referring day traders and various opportunity seekers.
In fact, many review sites specifically target get-rich-quick schemes like the Bitcoin Code and advise traders to only use regulated brokers because that is safe and you won’t get ripped off. In theory this is correct, but what they fail to tell you is that when binary options are concerned the chances of someone actually generating profits and being able to withdraw money is virtually zero. That is why the staff and management here at Binary Scam Alerts will NEVER endorse any binary options broker regardless of their licence or jurisdiction.
In this context, with the exception of a few regulated exchanged all binary options brokers are SCAM as your loss translates into their gain. Hence there is an inherent conflict of interest, and IQ Option SCAM Broker is no exception. The fact that they are regulated does not mean the odds are stacked up in your favor. In fact, the exact opposite is the truth and if you know anything about binary options or had a problem cashing out because you accepted a bonus and were not aware there are trading requirements attached to it then you obviously understand what you are up against.
IQ Option Review: Aston Martin
We are not impressed with a sponsorship or branding. In fact quite the opposite is true! We could care less about what kind of sponsorship deals IQ Option makes, and to be quite honest it just makes us more suspicious. A truly honest broker just pays on time or before and solves problems quickly for its customers by offering superior customer service and being attentive to its customers needs.
IQ Option Complaints
We have received quite a few complaints about IQ Option, and most of them have to do with not being able to cash out and how the demo account is rigged and shows only wins but when investing money the trend reverses and you lose everything. Stall tactics such as invalid documents, and improper identification are constantly used to defer, deflect, and ultimately dissuade traders from cashing out their money.
Advertised Withdrawal Times
They claim 3-5 business days but in reality you would need to send a mountain of documentation in order for the compliance officer to approve the the withdrawal request. Here is actually when regulation is AGAINST you as they will say that it is required by the licensing authority to have all documentation presented in a clear and legible way. Personally, we find this type of behavior repulsive because this organization certainly knows how to take your money but when it comes to cashing out well then the bureaucracy and regulatory apparatus goes to work and everything has to be “by the book” all of the sudden.
IQ Option 60 Seconds Strategy
If you are a 60 seconds fan then IQ options will have a “senior account manager” contact you and start dispensing advise about what type of strategy is best. Momentum, Swing, Fundamental, Technical Analysis are all up for grabs and you can take your pick but there is only one place you are going and that’s the bottom of the barrel.
IQ Option Platform – Innovative Custom Charts Or Rigged Software?
Here is a screenshot of the IQ Option software. It is plain to see that in this scenario the customer is trading USD/CAD currency pairs in “Binary”. The expiration times on the right panel are clearly marked and they even have their own indicator panel which acts as a kind of signals software advising traders what is the trend. Some traders say the platform is very intuitive and user-friendly, but we found it to be cumbersome and difficult to maneuver in.
In reality, this is probably one of the most misleading graphical elements in the whole trading environment as people will act on this indicator and buy contracts (call or put) based on what they believe to be the trend. But when actually trading , the movements are not measurable and room for error is so big that most likely the traders will lose their money.
Is IQ Option SCAM?
The IQ Option SCAM does not operate in the usual or standard way we are accustomed to see. Of course all the licenses set it apart from the rest, however we are dealing with wolves in sheep’s clothing. Remember, these people are not your friends and will excessively use the fact that they are regulated in order to get you to drop your guard and deposit more funds. In reality, in most cases you will end up losing your money and think of how you reached this terrible financial situation again.
Does IQ Option Offer Cryptocurrencies Such As Bitcoin and Ethereum?
Yes they do offer Bitcoin Cash, Ripple, Monero, Dash, Zcash, and Litecoin. But again, trading cryptocurrencies with ANY binary options broker is like shooting yourself in the head.
IQ Option Bonus
Bonuses are no longer available with IQ Option as a part of the policies implemented by CySec. Usually when bonuses are issued there are trading requisites and that is when the complaints start, so we were informed that this is the reason bonuses are no longer available.
IQ Option VIP Club
If you want to be an IQ Option VIP you will need to fork up at least $3,000 as an initial investment. That will get you a “personal account manager”, “faster” cash outs, and a monthly analyst meeting. In reality, that meeting is designed to get you to spend more, and faster withdrawals are limited based on the terms and conditions which can be changed at any time.
IQ Option Signals
IQ Option does not advertise their signals, however they do allow 3rd party providers to offer them if it passes their compliance desk.
Terms and Conditions (The Fine Print)
Something that really got us angry is an inactivity fee of 50 Euros which is incurred and deducted automatically from your account if you don’t trade for 90 days. Other than that it’s the usual spiel.
Signals, Forex EAs, Crypto Robots, and Brokers
It’s not every day we endorse a broker or system, and when we do it means they passed our screening rigorous process. If you are searching for a solid alternative to IQ Option, then we have managed to find a few for you, just check out our recommended section.
IQ Option Review Summary and Conclusions – Blacklisted?
The IQ Option SCAM does not operate like the usual get-rich-quick scheme. In fact, it does not answer to the classic definition of the word SCAM, however certain scam tactics are definitely used in order to delay and defer withdrawals. Specifically annoying is the fact that IQ Option as well as other regulated brokers use their regulation as a proverbial fig leaf in order to veil their intentions. Ironically, an unregulated broker can be much more attentive to your needs as they value each and every customer and wish to be as polite and professional as possible in order to avoid being exposed as a SCAM broker on the internet. To sum up, IQ Option is NOT recommended because we do not recommend any binary options brokers regardless of their credentials. We could care less about their partnership with Aston Martin, and only lookout for the welfare and financial well-being of our members and viewers. Don’t for get to check out our Facebook page and subscribe to our YouTube Channel.