Now, upon first look IQ Options doesn’t seem like a scam right? I mean, they seem very legitimate, and technically, they are. In fact, they are fully regulated and registered in various countries, they have numerous awards, and not to mention the numerous great reviews. Seems like a great option, only, THEY ARE A SCAM! See, the goal is to make small time traders think they are great in order to get the big fish. Their demo platform is also great and after testing it you think it’s the best around. Only, it is not. Once you invest and start really trading things change.
The problem with IQ Options is that they strive to convince you to invest far more than you can afford and their goal really is for you to win a lot. The reason? Well, the moment you pass $1,000 they will find a reason to disable your account and leave off with your money. Whether you did something or not, you are kicked out and your investment is down the drain along with your profits.
But Everyone Says it’s OK!
What’s with all the positive reviews you ask? Well, think about it, when you are doing great with a software or are happy with something, do you take the time and write a 1000 word article on how great it is? Of course not, it’s not necessary! You may consider discussing it, but unless your job isn’t to do reviews you won’t write up a nice long review and post it. The positive reviews you see are all fake and all paid with the sole goal to bring them more new traders to trick. Have you noticed that in many of the positive reviews you see only positive comments? That’s because negative comments are not allowed and deleted before they even make it to the comments section. All negative reviews you will find in the one of the most popular websites where complaints are discussed about various scam brokers and software, Forex Peace Army. There are numerous threads and even more discussions within the threads of people complaining about IQ Options, their horrible customer service and overall tactics of stealing your money.
The scam broker IQ Options works in one specific way, to lure you in with small wins. Once you have invested the minimum and got tied down with the 100% bonus which prevents you from withdrawing, you will receive a call. If you miss the call or if you decline the first couple of times, the calls will continue coming in. Their goal is to encourage you to invest more and more. The more you invest, your chances of ever withdrawing your money completely disappear. There are numerous complaints from people investing $1,000+ into their broker accounts and shortly after their accounts being suspended. The same goes if you actually do good with trading and make upwards of $1,000. The moment you have made them enough money you are at a complete loss because your account will be blocked and you will never again be able to enter it.
All brokers are the same, their software is more or less the same, and your chances of winning are the same. The problem arises with the terms of their bonuses and whether they will ever allow you to withdraw. There are numerous loopholes in their pages long Terms & Conditions, many of which are completely impossible to understand. They can make up any reason to terminate your account and keep both your investment and your winnings as their Terms allow it.
IQ Options Bonus Program and Bonuses
Now, what happens with bonuses. Upon registering you will think that it sounds like a fantastic idea to get a bonus and more to trade with, only if you ever want to withdraw your money, I highly recommend you steer clear of them. First off, it states that when it comes to receiving bonuses you have to trade the bonus amount multiplied by 35. Many brokers do this, and although it seems like a great idea, in the end you find yourself having quite a hard time actually reaching this trade amount before you actually want to withdraw your money. Another thing that caught my attention was this “Bonus program conditions may vary according to the region of the Client.” This basically means that yes, those are the conditions of the bonuses, but DEPENDING on your region this could be completely different. Only, hey have not provided any information about different regions and the different bonus terms for each region anywhere in the website. This means that the information provided could easily change specifically for you depending your investment and your trading. There is nothing in black and white so they can say whatever they like regarding your trade volume based on your location. The inconsistencies in their Terms and Conditions are more than enough to get you worried.
Although yes, you can earn money, note that with IQ Options, you will not be able to withdraw them. Their platform is simple enough and great to use, and the chances of you actually profiting if you know what you are doing are just as high with any other broker, you will be disappointed in the end.
My tip? If you really do have your heart set on using IQ Option as your broker and are not deterred by the information above do not invest more than the minimum. Sure, accept a bonus if you really want to, but if you want to withdraw your money and not get held up by them, go without it. Also, I highly recommend that when it comes to withdrawing, do not wait until you have upward of $1,000 in your account, make more frequent, smaller withdrawals. As I noticed that their withdrawals can take up to 2 weeks, especially the first one which may take up to 3, I recommend you send your request well before you have reached the $1,000 mark in order to avoid setting off any lights that you are making too much money from them.
IQ Options are not in it for the small bucks, their goal really is for you to win, but to win for them and then kick you out!