IQ Option Scam? Yes It Is In My Opinion!
The binary options scam is run on a never ending stream of websites. The home base for many of the companies that run these scams is Israel. Investing with these companies offering binary options should be avoided. It can be nearly impossible for you to recover your money. My subscribers have requesting I take a look at IQ Option. Here is what I have found.
IQ Option Scam Claims
IQ Option is one of the world’s leading binary options brokers.
IQ Option is a trading platform that makes it easy for you to start your journey as a trader.
IQ Option Scam Reality
IQ Option was founded back in 2013.
The IQOption Ltd address is listed as Global Gateway 8, Rue de la Perle, Providence, Mahe, Seychelles. Seychelles is a hot bed of investment scams.
The IQ Option Headquarters is located at Yiannis Nicolaides Business Center, Agiou Athanasiou Avenue 33, 4102, Agios Athanasios, Limassol, Cyprus.
Their website as of the time of this post is hosted in Russia.
Dmitry Zaretsky is the founder and CEO of IQ Option.
Here is Dmitry in action in front of the camera:
The company Dmitry ran before IQ Option was BRTechnologies:
Company BrTechnologies is a Web-laboratory , creating Internet products for affiliate programs owners, the Web-shops and major advertising platforms.
The main key competence of the company is the operational development of software products for the Internet business on the basis of accumulated developments and a formed team of managers and developers. The company’s full name – BroadRapidTechnologies fully reflects the range and nature of our services and developments.
Among our projects and developments:
– the largest portal of public and private tenders – i-tenders.ru
– the official partner of the banner network Nightingale – Pingmedia.ru
– advertising networks – Leadsleader.ru
In interviews IQ Option tries to make themselves look like the good guys in the binary options wold. From the complaints that I have seen, they seem to be acting just like the many other binary options scams.
I know from my personal experience that on the Internet and websites dedicated to protection of traders, like FPA (forexpeacearmy.com), you can find a countless number of stories about loss of funds due to the reason that managers confused clients intentionally, got them hooked on signals, which were false, told them about “investments” and plainly set them up. What do you think about it?
(Dmitry IQ Option Founder) I think that lie is a primary problem of the industry. It is not typical for casinos and betting providers, where much more money circulates. In binary options industry fooling every client and pursuit of here-and-now profits fell into a habit. They would better develop good software and services.
It is a very hot topic. The only way to solve the problem is to show a good example of doing business properly or withdraw from the dirty market. However, I believe in the forces of good. -Source profitf.com
A binary option is a type of options contract in which the payout will depend entirely on the outcome of a yes/no proposition.
The yes/no proposition typically relates to whether the price of a particular asset that underlies the binary option will rise above or fall below a specified amount. For example, the yes/no proposition connected to the binary option might be something as straightforward as whether the stock price of XYZ company will be above $9.36 per share at 2:30 pm on a particular day, or whether the price of silver will be above $33.40 per ounce at 11:17 am on a particular day. Once the option holder acquires a binary option, there is no further decision for the holder to make as to whether or not to exercise the binary option because binary options exercise automatically. Unlike other types of options, a binary option does not give the holder the right to purchase or sell the underlying asset. When the binary option expires, the option holder will receive either a pre-determined amount of cash or nothing at all. Given the all-or-nothing payout structure, binary options are sometimes referred to as “all-or-nothing options” or “fixed-return options.”
Here are some IQ Option binary options scam warnings:
Last month, I was trading USDJPY, turbo options, within a timeframe between 40 seconds and guess what…my options were executing with a latency of 6-7 seconds and a slippage worth 2 pips from the price shown on the chart. This dropped my balance to zero. I requested a refund but they refused. After I escalated the issues to an official complaint, their complaint department sent me some screenshots where my trades had been executed. One of my trades initially expired in-the-money but 5-6 seconds later the profit was subtracted and option was declared as a loss. They refuse everything, of course.
On the 21st of this month I noticed that my withdrawal request was on hold, with a note attached stating that I needed to provide identification documents to verify my account details. The note also stated that I should check my email for more information on the verification process. I logged into my email account but there was no message from Iq Option-I even checked the spam folder. This prompted me to contact customer service, who directed me to upload my national ID and a screenshot of my skrill “personal cabinet”-which is my withdrawal platform-through the same email address that I registered my Iq Option account with. I complied with their request, and they assured me that my account will be verified by Friday the same week. Friday came and went but my funds are still on hold, so I contacted customer service again and they assured me that my funds will be released “as soon as possible.” Not satisfied with this vague response I pressed them to explain what they meant by “as soon as possible,” and this time they said that it might take up to 30 days. This made me even more suspicious of their intentions so I inquired why they need such a long time frame to basically look at two images. Their response was that they need to check my entire trading history! WTF! Why is it that they never concerned themselves with my trading habits when I was making losses? It might be worth noting that my Iq Option account has been active since December 15, 2016 and they have never requested any form of ID from me up last week. Needless to say, I don’t really have faith in this company anymore and I might as well count my losses as I don’t see them releasing my winnings. To anyone reading this, I would have you know that I read similar negative reviews about this trading platform but I was very skeptical of such reviews. Well, now I’m the one writing a negative review about the company, complaining about the same things that other reviewers have done so before me. My advice to anyone thinking of signing up to this platform is simply to walk away. This platform clearly doesn’t expect you to make any profits because why else would they need to check YOUR ENTIRE TRADING HISTORY before they release your funds? Save yourself the hassle and sign up with any other platform unless you’re looking to waste your time and money. – Source pissedconsumer.com
Wow, it seems IQOption is now acting like hooligans when we traders make money from their platform and simply reject any withdrawal request. I have the exact same issue and they falsely made an accusation on the trades that I won and IQ can’t provide any evidence to prove their point.
IQOption is a very special piece of software developed by Egor Perepelyuk. The software is very sophisticated and, in my opinion as a trader of 14+ years and an IT software analyst for much longer, the software does not actually communicate ‘live’ market prices at all. … Based on my experience of using their platform for a few months, and on past experience with other brokers and Enterprise-level software, when you trade with IQOption, you are trading against AI and it will prove almost impossible to retain profits. This is because, with a platform like this, the software paints the chart anywhere the developers want it. That could mean, it is possible for them to always draw the ‘blinking dot’ just out of reach of your entry and exit. If anyone reading this post is a skilled developer on the same level as Egor, who is Russian, perhaps he or she could enlighten us as to whether my estimate of what is actually happening in the platform (“it is a video game almost identical to a software casino machine; and your ‘trades’ are simply not real’) i think it would help a great many naive speculating persons who think they can make money ‘trading at the retail level.’ – Source forexpeacearmy.com
IQOption hires their own employees to dupe people to lose money by showing fake results and accounts. They pretend demo accounts are real and use overlays to hide that they are fake! Also these people are all Russian and likely are hired or work directly for IQOption in order to steal your money! Get the word out and run from these Russian lying scammers!
Countries, that are not allowed to work with IQ Option:
From the Commodity Futures Trading Commission, here are three ways binary options companies scam people:
1. They refuse to credit your account or reimburse funds after accepting your money. You deposit money into your binary options trading account and are then encouraged by “brokers” over the telephone to deposit additional funds into your account. When you attempt to withdraw your original deposit or the return you have been promised, they cancel your withdrawal request, refuse to credit your account, or ignore your telephone calls and emails.
2. They collect information such as credit card and driver’s license data for identity theft purposes. If a binary options Internet-based trading platform requests photocopies of your credit card, driver’s license, or other personal data, do not provide the information.
3. They manipulate the binary options trading software to generate losing trades. The Internet-based binary options trading platform manipulates the trading software to distort binary options prices and payouts. For example, when a trade is “winning,” the countdown to expiration is extended arbitrarily until the trade becomes a loss. – Source Cftc.gov
IQ Option Scam Conclusion
In my opinion, IQ Option is part of a long line of binary options scams that have been running for years. These websites are basically gambling sites that are passed off as investing. If you make too much, they will close your account or just not pay you. They can delay your trades so that you lose when it looks like you won. They are typically unregistered in the countries they are offering accounts in. Many binary options websites and companies are opened so that if complaints are made they can just move on and continue to scam people. Avoid the IQ Option scam.