Complaints about IQOption

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The real IQ option review & complaints by traders – Why this is not the best broker

I am writing this IQ option review after receiving a lot of requests by my fellow traders. IQ option is a very popular binary options broker, and as a result, there are many complaints.

I tried hard to distinguish the most important and “real” IQ option complaints from the comments that the angry and the frustrated traders left.

IQ option complaints on the entire web

Your capital may be at risk. This material is not investment advice.

Price manipulation complaints

There are some complaints about platform freeze or expiry strike being different than the market price. Sometimes, of course, the traders are frustrated because they lost a trade and they did not pay close attention to the time interval used. They just want someone to blame.

Their platform is working in accordance with CySec rules and not cheating the clients. If you trust CySec �� . There was a fine issued for “not executing orders the best possible way for their clients”. This fine was withdrawn. I leave you to draw your own conclusions here. If you do not trust CySec, check popular brokers that are regulated by another organization, like my review of the Marketsworld broker or Highlow broker.

Update : Cysec regulation has really improved since I wrote this review – they have set many new rules that protect the traders. It is under European protection after all. It is one of the best these days.

Here are some complaints:

“I would urge everyone to stay away from this broker. If you start to win, they will play all sorts of games to stop you winning.”

“Not the first time IQ option has done it, but until today it was just a minimal difference! On MT4 or MT5 the candle is green (up) quite large whereas on IQ option you lose the trade because the candle is large and red! Ridiculous! Someone should close them down.”

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“There are quite a few times when market is down and I try to purchase or buy but fail. I try like 20 times and the failed purchase notification pops up.”

However, these comments are before 2020. And traders get easily emotionally involved. I trade too, so I know how it is to be emotionally involved.

There are some exaggerated complaints about IQ option trading broker that are possibly not true.

Here is one: “But that’s where the problems start as well. Just as you start being profitable, after recouping any losses you made on your initial investment you start noticing some funny patterns – almost as if the trades you are betting on are being controlled so you don’t win (funnily enough, with the same strategy which was resulting in a 60% + success rate until now). I have actually gone back and reconfigured my strategies three times now, until they were giving me an average of above 60% profit and, surprise surprise, as soon as I consistently start taking in profits, suddenly the tide changes and I start losing again. It’s too much of a coincidence to be real.”

I think this is the same guy on another website:

“If markets are unpredictable, then my winning and losing should not be following a pattern as well. Which has led me to believe that IQ OPTIONS is a SCAM. STAY AWAY PLEASE! They have an algorithm at play that looks at your profits and if you are consistently raking in money, they put you on another algorithm that puts the brakes on your profit. That’s how they are making money off poor hopefuls like us who think we can earn something extra on the side.”

Another one:

I’ve been showing IQ on several occasions how they manipulate the server and rob people of their hard-earned money. I’ve sent all the necessary evidence and video to show them what happened. The server or somebody manipulated the system to let me gain my profit. The screen shows how the position was closed but still the server let my trade go against me and the platform started freezing and, while I was reporting this, it still shows that the positions were closed supposedly in profit but it didn’t close from there and the screen shows waiting for expiry. It happened twice altogether – 23 positions that they robbed me of.

IQ option withdrawal complaints

Before proceeding with the IQ option review, I found some comments about problems with withdrawals. Some complained that the binary trading broker blocked their accounts after winning. Not all of them are true of course. By the way, here is the IQ option login page .

“They blocked my account without notice and they just explained to me that this is their right. I have $2700 in that account which is now blocked so I sent a complaint to SySEC.”

“I requested to withdraw funds via Skrill from the IQ option platform since I could no longer withdraw to my bank card. Then I was asked to provide all the copies of the credit cards I used previously to fund the trading account. Who keeps a bunch of cards, really. ”

“I have deposited some funds using a debit card. I then wanted to withdraw funds but needed to send ID, which I did. Since making the deposit I then changed my card. I was told that I need to get a letter from the bank to prove that the debit card is mine since I haven’t…”

And a longer one:

“I deposited several times to this site – a sum of $1250. And after I verified my account and fulfilled the mandatory trading volume required for the bonuses, I made almost $5000 in one month.

Then I wanted to withdraw some of my earnings:

* Due to site’s restrictions, first I had to withdraw my first $1250 to my bank card that I used to deposit.

But after my request of withdrawal, they sent only $150 of it. I have contacted their support several times, but they only sent me some meaningless codes, and suggested I talk with my bank. And, as you see, I couldn’t get rest of this money.

* At this time, I also wanted to withdraw $500 with Skrill; they wanted to have my ID again (even though I’m verified) and my bank card’s scans… I sent them of course, but they didn’t verify my documents and send that money…

I also spoke with my friends and saw that they never let you withdraw more than $100-$150 and try to stall you somehow. So please stay away from that scam broker.”

The reason IQ delays the withdrawals is one. They use the money for other investments. You will, of course, get your money sometime.

The only, probably, binary options broker that does not do this, as you can read in my review, is HighLow markets.

Return changes

The most IQ option complaints I found were that they drop the return percentage too low sometimes.

“IQ option seems an attractive platform to trade on due to higher profit margins and ease of use. And once you get used to the strategies, the success rate can easily top 60%.”

“I also have evidence of them reducing returns to as low as 40%. When I attempted to make a withdrawal, my account was blocked with no warning.”

“Terrible broker. They only offer 40% profit sometimes and there is a complete lack of end of day options.”

IQ option poor customer service complaints

The last complaints before my IQ option review – there are some reliable complaints about the customer service because this broker is so popular and the support representatives are not enough.

Here is an example: “My account has been blocked without warning after I decided to deposit some money to start trading. I have sent an email on 25th Oct, 31st Oct and the most recent on 2nd Nov to seek assistance but seems there is no response at all. This website is DEAD!”

IQ Option Review

Your capital may be at risk. This material is not investment advice.

Introduction of the IQ option review

IQ option is a binary options broker whose foremost concern is to provide a secure and enlightening trading solution through a very flexible and trouble-free environment for investors, in order to construct them for a successful trading career.

Providing trading solutions around the world, this broker is an illustration of a new but thriving binary options broker. Established in 2020, the company has swiftly achieved an excellent position in the binary industry and is now providing their services in many languages.

IQ options may be the most popular digital options broker and the reason is the massive advertising.

Here is a simple how to use IQ option video:

IQ option regulation review

This trading broker is regulated by CYSEC, as I mentioned in the complaints section. You can read my opinion about Cysec here.

IQ option Trading Platforms review

Unlike the majority online brokers, IQ option provides their own proprietary trading platform. Apart from common web-based trading platforms, their platform comes custom-designed for different devices. You can explore their platform using all popular web browsers including Chrome, Firefox, Opera and Safari.

It constantly improves its platform and adds new things. It is the most innovative broker. It even offers a Cryptocurrency wallet named Hodly.

What’s special about IQ option compared to nearly all other trading brokers is the fact that the trading platform is their own. In recent times, the IQ option trading platform has undergone some constructive changes.

Mobile Platforms

IQ option offers its own proprietary platform accessible from smart devices too. The platform is available for both Android and iOS supported smartphones.

Desktop Platforms

This broker also has custom-made platforms for your computer/ laptop devices. No matter if you’re using Mac OS, Windows or Ubuntu OS, IQ option has platforms for all of them.

Trading Assets review

IQ option presents a superior variety of fundamental assets. This broker, at present, is providing over 60 various assets, including Cryptocurrencies, Forex, Stocks and Options, which I suppose would be adequate for the big portfolio trader. From the day they began, they have frequently included new assets in their trading platform, although our private source has revealed that they will add more commodity assets in a brief span of time.

Cryptocurrency trading

IQoption is one of the first that offered the traders the opportunity to trade Bitcoin and other digital currencies.

IQ option Minimum Deposit

The minimum deposit amount required by IQ option is $10 only, which is pretty low in the industry.

Minimum Withdrawal

The broker itself has no restriction on your withdrawal. Therefore you can even make a withdrawal request for $1 only. Withdrawal will be deposited into your bank account within 3 business days. Other payment methods are faster. Even instant withdrawal is possible with methods like Skrill and Bitcoin.

IQ option Demo Account review

You can easily explore the IQ option’s platform or practice binary options trading with their practice account. You can open a demo account and explore their platform and features without having to make a deposit.

Payment Methods

You can fund or withdraw your profits with IQ option using various payment methods including Visa, MasterCard, Maestro, Bitcoin, Web Money, Skrill, and Neteller. There are no charges from IQ Option. Your payment service provider might charge you a little.

Available Currency

The available currencies offered by this broker are EUR, GBP, USD, P RUB.

IQ option minimum Trading amount

You can trade binary options with IQ option trading broker with a minimum trade amount of $1 only. However, the maximum amount you can invest in for a single trade is $6000.

List of Countries that you can’t Trade with IQoption

Unfortunately, IQ option doesn’t allow traders from the USA to trade on their platform.

IQ option Customer Support review

You can reach IQ option’s support agent 24/7 by requesting a call back, email, live chat or even sending a message using their web form.

I think it is time to conclude with the review of IQoption trading company.

Is IQ option a Scam?

There are many complaints about IQ option, however, this does not mean it is a scam. There are many complaints because it is the most popular broker. Some are true, of course, but some of them are made by emotionally involved traders.

It is a serious business that will give you your money back. There are complaints about withdrawal delays and blocked accounts/winnings for no reason, though.

It is one of the most serious trading companies, in my opinion. They constantly improve their services, they create new trading ways and they follow the Cysec (regulator) rules the day they change them.

How to trade on IQoption video

Here is a simple video on how to trade on IQ option:

Complaints & Grievances Policy

The Company is required to establish, implement and maintain effective and transparent procedures for the reasonable and prompt handling of complaints or grievances received from clients.

The Company is required to keep an internal record of each complaint or grievance and the measures taken for the complaints resolution.

Clients’ complaints or grievances are initially handled by a member of the Compliance Team; however, the final settlement of complaints or grievances needs to be approved by Senior Management/Head of Compliance.


”Complaint” a statement of dissatisfaction addressed to a firm by a client or potential client relating to the provision of investment services.

”Complainant” means any person, natural or legal, which is eligible for lodging a complaint to a CIF and who has already lodged a complaint.


The procedure which shall be followed by the Company when handling client’s complaints or grievances is as follows:

Filing Complaints

Any client who wishes to submit a complaint or grievance is advised to complete a Complaint Form and to send it to the Company in one of the following ways:

  • By email to [email protected]
  • By post to Yiannis Nicolaides Business Center, 33 Agiou Athanasiou Avenue, 4102, Agios Athanasios, Limassol, Cyprus.

The clients can submit complaints free of charge.

Receiving Complaints

A complaint or grievance is initially handled by the Compliance function who shall immediately register the complaint in the Company’s internal register and give it a unique reference number.

The Compliance function shall then communicate receipt of the complaint along with the unique reference number to the complainant. He shall also inform the complainant that the said reference number will be used for future communication with the Company, the financial ombudsman or CySEC when discussing the specific complaint.

The Compliance function will ensure that this unique reference number and confirmation of receipt is sent within 5 working days of the complaint being made.

The Compliance function shall then take all necessary actions to ensure that the complaint or grievance is properly addressed by forwarding it to the head of the department the complaint is addressed to (within 3 working days).

Complaint Form

In order to ensure the correct details are obtained from the complainant, a copy of the ‘Complaints Form’ and Complaint Policy are provided on the Company’s website

Upon receiving a written complaint or grievance, the following details shall be obtained and recorded by the Compliance function:

  • The identification particulars of any client having made a complaint or grievance.
  • The service provided by the Company and related to the complaint or grievance.
  • The employee responsible for the provision of those services.
  • The department to which the employee belongs.
  • Date of receipt and registration of complaint or grievance.
  • Content of the complaint or grievance.
  • The capital and the value of the financial instruments which belong to the client.
  • The magnitude of the damage claimed by the client.
  • Reference to any correspondence exchanged between the Company and the client.

Handling Complaints

The events leading to the complaint or grievance shall be examined and assessed by the Compliance function based on the information provided by the client.

The facts as stated by the client shall be examined and verified with the relevant heads of department and any additional information needed shall be retrieved from the Company’s archives (electronic mail, recorded telephone calls, IT data, etc.).

Upon completion of the investigation, the Compliance function will prepare a report stating the facts and make recommendations which will be brought to management’s attention who will then conclude on the final decision to be made. The Head of Compliance will make a formal response to the client and carry out these actions.

The Company shall investigate the complaint and reply, within two months, to the complainant about the outcome/decision. In the event when the Company is unable to respond within two months, it shall inform the complainant of the reasons for the delay and the period of time within which it is expected to complete the investigation. This period of time cannot exceed three months from the submission of the complaint.

Additional Information

Whether a complainant is not satisfied with the Company’s final response to his/her complaint, then he/she can maintain the complaint through:

  1. The Financial Ombudsman within a period of four (4) months from the receipt of the Company’s final response to his/her complaint. Further information can be found here; and/or
  2. An Alternative Dispute Resolution (ADR) mechanism;
  3. The relevant courts of the Republic of Cyprus, in case the complainant is not satisfied with the decision of the Financial Ombudsman.

Further information regarding the procedure that needs to be followed by the complainant can be found in the CySEC’s website here

Record Keeping

The Company shall keep a record of every complaint or grievance received from clients, as well as of all the measures taken for the resolution of said complaint/grievance for a minimum period of five years (where requested by the competent authority, for a period of up to seven years).

The Compliance function shall be responsible for maintaining all complaints, relevant correspondence and documents related to the complaints. Management will ensure at the end of each month that the heads of departments have taken all the required actions so as to prevent repetition of the same complaints/grievances.

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