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    IQ Option:IQ Option absconded after cheating investor out of US$250

    Abstract:Trading training courses are necessary for beginners in forex. Most compliant brokers ’ websites will show a demo account or guideline for practicing. But the broker IQ Option, although regulated by CYSEC, has no demo account and was complained for blocking withdraws many times.
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      An investor complained to WikiFX that he was a newbie while he trade with IQ Option. He was attracted by a sponsored advertisement of IQ Option on Instagram. The investor was asked to download an App to submit his bank details in it. On April 4th, 2020, the investor deposited 250USD to his trading account and want to exchange to NZD. After one day, he got two emails from GT BANK, the local bank, and both emails mentioned the investors credit card was deducted 250USD. The investor felt confused about why the deduction was made twice.

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      The investor saw official email address and 24/7 hotline for customer services support on the website of IQ Option. However, none of investors calls was answered. The investor also sent them an email and received an automatic reply saying that they would reply in 2-3 workdays. But the investor did not get any reply from IQ Option and was charged a total 500USD in his credit card.

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      According to investigation by WikiFX, the IQ Option was complained many times by investors, even though it was regulated by CYSEC. The problems investors face at IQ Option also include unable to log in and losses or negative balance due to inability to top up trading account. After verification, the IQ Options customer support was unavailable as well. All in all, WikiFX suggests all investors to choose brokers who can provide free practice account and stay away from brokers that provide no other contact information other than email address.

      Per checking WikiFX App, IQ Option has a poor rating of 1.82, bearing great risks. The broker is currently active on large social networks such as Telegram and Facebook, please stay away!

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      WikiFX App is a third-party inquiry platform for forex broker profiles.WikiFX has collected profiles of over 17,000 forex brokers and 30 regulators and helped victims recovered over 300,000,000USD of defrauded funds.

      Possessed by Wiki Co., LIMITED that was established in Hong Kong Special Administrative Region of China, WikiFX mainly provides basic information inquiry, regulatory license inquiry, credit evaluation for the listed brokers, platform identification and other services. At the same time, WikiFX has set up affiliated branches and offices across the world in Australia, Indonesia, Vietnam, Thailand and Cyprus, serving global users in more than 14 different languages by offering them comprehensive services and products backed by cutting-edge technologies. WikiFXs social media accounts are as below:

      Facebook:

      Nigeria Area:https://www.facebook.com/WikiFX.ng

      LinkedIn:

      Nigeria Area:https://www.linkedin.com/company/31506916

      Twitter:

      Nigeria Area:https://twitter.com/WikiFX_NG

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      WikiFX Forum Function:

      In order to help more investors, WikiFX has launched the “WikiFX Forum” forum, which aims to provide urgently needed and professional services to Nigerian forex investors.

      The exposure function of “WikiFX Forum” includes the following features:

      1: Allow investors who have been defrauded by illegal broker to complain directly in the forum (as shown in the screenshots)

      As long as there is sufficient evidence, a review panel and an executive team will contact the broker to discuss the complaint or expose it directly through the media. Here are the exposure channels:

      2: Block low score brokers from entering the forum

      3: Monitor suspicious communication in real time, and directly spot and deal with suspicious fraud;

      4: Allow investors to communicate with highly reliable brokers selected by WikiFX in the secure environment of WikiFX Forum.

      WikiFX APP exposure channel: https://activities.wikifx.com/gather/indexng.html

      Information page to understand forex scam and exposure channel: https://activities.wikifx.com/gather/indexng.html

      Website exposure channel: https://exposure.wikifx.com/ng_en/revelation.html

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      More details about how to download WikiFX App:

      Please download WikiFX APP from links below or scan QR code :

      iosAppStore: https://apps.apple.com/us/app/fxeye/id1402501387?l=zh&ls=1

      Googleplay: https://play.google.com/store/apps/details?id=com.foreigncurrency.internationalfxeye

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      If you have any questions, please feel free to contact us at wikifx@wikifx.com

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