Is IQ Option a Scam Broker?
With the growing popularity of binary options, more and more newcomers enter the trading scene. Of course, these newcomers want to avoid being scammed. Find out if there is an IQ Option scam in this article.
Is IQ Option as a scam? In our scam inspection, we will analyze every aspect of the broker and tell you whether you can trust IQ Option.
In detail, we will take a look at these aspects of IQ Option’s service:
- Trustworthiness: Can you trust IQ Option?
- Security: Is your money safe with IQ Option?
- Profitability: Can you make money with IQ Option?
Once we have tested all of these aspects of the IQ Option service, you will be able to make an informed decision on whether or not you can trust IQ Option.
IQ Option scam: Can you trust IQ Option?
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The first concern of newcomers to the binary options scene is the same concern as with anybody who is signing up with an online financial service: can I trust the service? Are they offering an honest business or are they trying to scam me out of my money? Luckily, IQ Option has answered these concerns convincingly.
This answer is government regulation. IQ Option is regulated by the European Union, which means that IQ Option has to abide by the same strict rules that all big European banks abide by. For you, this has two advantages:
- You can be absolutely sure that IQ Option offers a legitimate, legal business. The European Union monitors every aspect of IQ Option’s and makes sure that there are no illegal activities going on. No traders will be scammed out of their money, there will be no false promises, and if you should ever have a problem with IQ Option, you can rely on the European legal system to help you out.
- You get additional benefits that no legitimate but unregulated broker offers. While there are many trustworthy brokers without government regulation, these brokers deny you a few key features that IQ Option offers because of its regulation. Most significantly, IQ Option always keeps enough money in a separate account to be able to buy out all of its traders in case the broker has to file for bankruptcy. Unregulated brokers do not have to do this, which is why all your money could be gone if the broker goes bankrupt.
Combined, these two advantages not only guarantee you that IQ Option is not a scam, but they also guarantee you a plus in security that even other legitimate but non-regulated brokers are unable to offer.
In short: IQ Option has passed this part of the test with flying colors.
Verdict: No scam.
IQ Option scam: Is your money safe with IQ Option?
When it comes to security, IQ Option has left nothing to chance. In detail, IQ Option provides these security features:
- SSL encryption for all transmissions: The most vulnerable aspect of any online business is the communication between you and the broker. When you send your password, a hacker could intercept the password and steal your money. IQ Option prevents such attempts by encoding all communication with the SSL protocol, the safest thing the web has to offer. SSL encryption is impossible to hack, which means that your money is completely safe with IQ Option.
- Thorough validation process for new withdrawals: Even if someone should learn your password, for example by stealing the piece of paper on which you wrote it down, your money is completely safe. IQ Option allows only withdrawals to accounts that you have used before. For every new withdrawal method, the person making the request has to provide pictures of your ID and proof of residence. Since only you have these documents, nobody but you can withdraw money from your account.
- Withdrawals to accounts in your name only: As a final security feature, IQ Option allows withdrawals to accounts in your name only. This means that nobody can steal your money by withdrawing money from your account, which guarantees you complete safety.
Verdict: No scam.
IQ Option scam: Can you make money with IQ Option?
Many newcomers fear to sign up with a broker where they can only lose money. Luckily, IQ Option makes earning money easier than most other brokers.
In the past, IQ Option has offered average payouts of 85 percent. These payouts are significantly higher than what most other brokers offer, which usually lie around the 70 percent range. With such high payouts, you are in the best position to make money of all brokers. Consequently, IQ Option can’t possibly be considered a scam.
Verdict: No scam.
IQ Option has passed every aspect of our test. They are no scam.
Final verdict: No scam.