Sometimes, seeking to make a profitable investment in financial transactions has baffled investors. There is also the need to look for reputable brokers to minimize the risk. This article is for financial investors who want to find out if IQ Option is a scam. If you are also interested in IQ Option, then go through our article.
What is IQ Option?
IQ Option is one of the most modern and complete financial trading platforms. This platform provides financial transactions with different types of assets. Simply put, this is a probability game with 2 choices. Up or down, if you correctly predict you will receive a reward, otherwise you will lose your money.
But recently, IQ Option has had many improvements to upgrade the system. It now provides more transactions for Forex, stocks, cryptocurrencies, commodities, etc., in the form of indexes. You can trade Apple, Facebook stocks or even cryptocurrencies without owning.
Conditions for evaluating a reputable broker
Platforms with an operating time of less than 1 year are difficult to win the confidence of investors. Because of the short operating time, it can not be evaluated objectively. Launched in 2013, IQ Option can be called one of the first major brokers to appear in the financial markets.
Up to now, IQ Option has been in operation for 7 years. It is sufficient time to prove to investors about their sustainability and development.
Regarding the long operating time, if you cheat on traders, you will sure be boycotted by the community. If there is information about IQ Option of being scam or fraud, you can only see that they are just words and comments without any proof. There is no specific evidence such as images or video clips to prove. These are likely bad plays from competitors of IQ Option.
The superiority of IQ Option over brokers who provide the same financial trading service
In terms of the overall interface, IQ Option is superior to Olymp Trade, Binomo, GGtrade, etc. In order to do things that satisfy the most demanding customers, there must be a well-experienced design team.
The IQ Option support team is rated by customers as having support in many languages, especially English.
If this were a low-quality platform, it would never have enough financial resources to invest in long-term development. Low-quality platforms only have sketchy interfaces. They will then lure traders to invest their money in and scam it away. The scam will be exposed quickly so there will be no time to invest in upgrading the interface.
Deposit and withdraw money
In IQ Option, depositing is supported in a way that cannot be more perfect. If you are unable to make international payments, you can also deposit by domestic online banking. You have e-wallets like Skrill or Neteller, then you can perform the recharge within 1 minute. Visa/Mastercard is also supported by IQ Option to deposit into your account. And there are many other payment methods.
Withdrawing money is vital for a trader. Because even when you can make some profit, it’s still useless if you cannot withdraw the money. Withdrawing money in IQ Option is very simple and easy to remember. The default processing time is within 1-3 days for the money to be deposited into your account.
Regarding scam platforms, your depositing is processed very quickly, but withdrawing is almost impossible. The system will refuse to process or to extend the processing time unreasonably.
Prestige and awards around the world
Not only one but many international awards are included in the IQ Option collection. No need to introduce, just look at what IQ Option achieved, you can know how reputable it is.
The data of similarweb.com shows that IQ Option is currently the 5th largest website in the world of finance. If it is a scam platform, how come many traders access and use it that much.
In addition, IQ Option also has many prestigious awards from international financial institutions. To achieve these rewards, it is a collective effort of the whole team.
You can read more about the awards of IQ Option at https://iqoption.com/en/awards
Usually, scam platforms offer very attractive bonuses to lure investors. But for IQ Option, no matter how much you deposit, the only benefit you can get is the VIP function. There is no bonus when depositing in IQ Option. IQ Option aims for win-win cooperation and believes that traders will contact without manipulation.
Be careful with the attractive bonuses from a certain platform.
The number of people involved in trading
There are 48 million registered accounts and over 1 million daily transactions in IQ Option. The number says it all, that this broker is well received around the world. If there is a phishing scam, IQ Option will be denounced and gradually boycotted out of the trading community.
But for now, there is no concrete evidence that IQ Option doesn’t pay traders.
Some confusion that IQ Option is a scam
There are information such as trading on software is often delayed, distorting the entry points, or IQ option deliberately making errors to scam players. In my opinion, these issues have many reasons, such as heavy software, slow server data loading. You often suffer like this because you usually trade with a short expiration time in seconds (as low as 30 seconds). It can be overcome by trading with the expiration time in minutes or hours (minimum 5 minutes or more).
The payout rate varies. It is sometimes even quite low. This rate is calculated by IQ Option to best benefit them. Times with high payout rates often fall into European or US sessions. The Asian session has an extremely low payout rate, averaging only about 75%. And it also depends on the assets traded.
The withdrawal is quite slow because of the need to authenticate accounts. This is the regulation of IQ Option to protect your account from fraudsters. If you want to process faster, just withdraw money to an e-wallet such as Skrill, Neteller, etc. During your first profit withdrawal, the system will require phone number verification via SMS, ID card, bank card, and account statement. Therefore, when registering an account, investors should pay attention to this.
Review IQ Option using data from Hypestat
You can use comparison websites like similarweb to evaluate the data of IQ Option, Olymp Trade or Binomo platforms. For me, Hypestat is the best choice.
(1) The first line shows the number of unique visitors of 19,596,595, and the daily traffic of 26,259,437.
(2) The worldwide website rankings of 162.
(3) Server location.
Currently, Brazil and India are the two countries with the most access to IQ Option in the world.
What is the price in IQ Option based on?
The price in IQ Option, compared to other reputable platforms in the world, is split into 10 times smaller than the listed exchange rate. This is an advantage of the platform.
So it means that the price can be adjusted by IQ Option, doesn’t it? That’s the price provided by the platform, so of course, it can be edited to gain the advantage within a short period like 30 seconds. In a short period, the reference price does not change much. So the platform can manipulate the price by splitting it into many times. But if you trade with a period of 5 minutes or more, the price fluctuations are now clear and cannot be manipulated.
With the above data, you can assess whether IQ Option is a scam or not. Before investing, study carefully you broker who you will choose to be your companion. Don’t be a trader falling for promotions and getting yourself into the trap of the bad guys. Wish you choose a good trading platform that suits you.