Does IQ Option Have Negative Reviews?

When you are selecting a new broker, looking at what others who have used a site before you have said is an easy way to get a feel for the site. If you are looking at IQ Option, you probably want to know whether this site has good reviews or negative reviews. Are people happy using this broker, or do they have a bad experience, warning others to stay away from it? Is this a broker that does what they advertise themselves as doing? Answering these questions confidently before you make a deposit is going to be a key part of your success as a trader.

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Is IQ Option Regulated?

IQ Option is regulated, and since they have obtained this regulation, we haven’t been able to find any major negative reviews of the broker. It’s always a good idea to start with whether a broker is regulated or not when you begin looking at them. Stay away from unregulated brokers.

Common Issues

Negative reviews of IQ Option do exist, but most are focused on trader error. Binary options trading is tough, and people do lose money, whether they trade at IQ Option or somewhere else. Nobody likes to lose money, and it’s not surprising that people leave negative reviews when they do. The question that you need to ask yourself is whether this is the broker’s fault or the trader’s.

This broker will help you tradeAnother thing to be aware of is their withdrawal policy. We did find some complaints when it came to the withdrawal policy as people were surprised that they couldn’t withdraw more than what they had deposited with a credit card. For example, if you made an initial deposit of $1,000 with a Visa, and then doubled your account size to $2,000, you can only withdraw $1,000 of that back to your card. The rest would need to be withdrawn via a wire transfer. This policy is standard practice within the binary options world and posted on their website. It’s important that you be familiar with the banking policies of the site you use before you create an account.

Finally, there were a handful of complaints about customers being locked out of their accounts. IQOption is regulated, and needs to follow the safety and anti-fraud rules and laws that exist as a result of this. Traders outside of the European Union, those with some sort of suspicious activity on their account, and those that do not verify their identities adequately will have issues here. Again, these policies shouldn’t be a surprise as they are a standard practice and clearly denoted.

Avoiding Issues

The best way for you to avoid issues with IQ Option or any other reputable broker is to know the rules and follow them. Familiarize yourself with the best way to conduct financial transactions with the site before you ever make your first deposit. Credit card transactions are easy and quick, but they are not always the best method for everyone. Also, be sure to take the appropriate steps quickly to confirm your account and identity. Provide the scanned copies of your government issued ID card and utility bill long before you want to make your first withdrawal. If you did use a credit card, be sure to scan a copy of this, blotting out the CVV and all but the last four digits of the card, and send it in. Getting these out of the way early will avoid issues with withdrawals later.

Also, because IQ Option is a regulated broker, if you live outside of the area where this broker is considered to be an authority, we do not recommend trying to create an account.

Getting Started

IQOption has low minimum risk amounts to help you get started. The minimum deposit to fund an account at IQ Option is $10. The minimum trade amount is $1 for some trades. This creates a low bar to entry at this broker, and it is also a good way to minimize your risk if you are new to trading. If you are still unsure about the broker or you are just hesitant to try it with real money, this is a good broker to start at. You can make a deposit to IQ Option with a Visa or MasterCard, a wire transfer, or a number of different e-wallets, like CashU, Skrill, and WebMoney. Remember that if you use a credit card, you can only withdraw what you deposited back onto that card later.

However, if you are unsure about the IQ Option trading platform still, we recommend using the IQ Option demo account. This is free to use, and is a good way to test the site out before you fully commit to it. Get in touch with their customer service department to start trading with this today. You can contact them by email or phone. We recommend phone for quicker and more personal service.

IQ Option Complaints Conclusion

Are there complaints about IQ Option out there? Yes. Are they well founded complaints? For the most part, no. Most of the issues that people have with this broker are not actually with the broker itself, but with their own mistakes. Most people lose money when they jump right in to binary options trading, and they lose money as a result of this. We don’t want you to be among those people. Familiarize yourself with the broker before you get started, testing out the IQ Option demo account and looking over their banking policies. Regulated brokers need to follow certain rules when it comes to finances, and IQOption is no different here. If you know what the rules are, there’s zero reason that you will be upset about them when you are asked to follow them.
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