+386 40 428 248 admin@business24-7.ae
Business 24-7 logo

Is IQ Option a Scam?

Štefan Grašič

Updated:

Published:

IQ Option is a trustworthy online broker, subject to the highest standards of safety in the industry and is definitely not a scam. The company has a longstanding tradition in brokerage services and a 100% scam free history.

This article explains some of the reasons why the answer is a resounding ‘no’. If you want more information about the broker then you can visit our IQ Option review

What Should IQ Option Traders Watch Out For

As technology advances, so do the deviousness and deception of fraudster’s tactics. With online trading and investing both booming in recent years, there has been an uptick in scams targeted at users. IQ Option is the most successful trading platform out there, and so is an appealing target for those who want to part you from your money.

As a result, IQ Option is obsessive about security. With over 40 million clients based in 213 countries around the world, they have to. Despite the best scam attempts of fraudsters, IQ Option is the world’s most reputable online broker. IQ Option’s users play a big role in keeping the platform safe. Responsibility for our actions begins with us. This is why we have put together this short article on scams for IQ Option traders to watch out for.  Here we will explain some of the most popular scams and how you can protect yourself if a scammer targets you.

What are social media scams?

Scammers use social media platforms to target traders, including IQ Option customers. No KYC on platforms like Facebook, Telegram or Twitter means you can never be certain who anyone is. A report published by Bromium and the University of Surrey’s Dr. Mike McGuire, a criminology lecturer, is bleak. Scammers have stolen $3.25 billion from unsuspecting people like you and me on social media. This represents a startling rise of 60% during the period 2017-19.

Where do they happen?

Telegram, Facebook, and Twitter are the go-to social media channels for scammers. A scammer will set up a group on one of these channels and then buy thousands of fake followers or members. They may call the group something like Official IQ Option Trader Tips or similar. This gives unsuspecting outsiders the impression that the group is popular and valuable. But nothing could be further from the truth. Just because the word “official” is in the group name, it does not mean that it is. The comments you will see in these forums are written by people paid for that purpose. The interactions are false and set up to mislead. As group members rejoice over “guaranteed returns”, one of them will approach you. Do not give away any personal details. Do not send them any money.

How do they work?

Social media scams play with our emotions. They promise an incredible lifestyle that can be yours if you trust someone else with your cash. Photos of Lamborghinis, helicopters, luxurious yachts and alluring lifestyles are often posted. These encourage you to feel uneasy and that you are “missing out” on the “opportunity of a lifetime”. The truth is that these photos are all fake, doctored, or taken from others to fool you into handing your money over. To achieve similar returns yourself, you will then be asked to “invest”. This approach will come from a particularly “successful” trader in the group. They will promise you undreamed of wealth in exchange for zero risk. Or another very unlikely proposition. To help things run “smoothly”, they will ask you to pay a fee in advance. This is all nonsense but can feel very tempting all the same. Resist the temptation. If something is too good to be true, it usually is.

How do traders avoid social media scams?

To avoid social media scams on IQ Option don’t join any group of traders promising returns or gains. If there were any gains available, they would be making these gains themselves. They are not interested in helping you out. There is no fool proof method of making money, and there’s no such thing as a guaranteed return. Good groups do exist where you can learn about trading fundamentals and analysis. You need to do your research to find them. Always remember to never give anyone your money under any circumstances. 

What is an affiliated scam?

An affiliated scam is when someone who claims that they are affiliated with a trusted source attempts to scam you. They will claim they are a manager or from business development, the helpdesk, or customer support – but they almost never are. Their favourite haunts include Facebook, Twitter, Telegram – even LinkedIn! If you have an account on any of these platforms, beware! Never trust anyone who contacts you this way without taking proper steps to verify who they are.

How does an affiliated scam work?

In case of an affiliate scam you will be contacted by someone claiming to be affiliated with a reputable company. In this case, let’s take IQ Option. The staff member will appear professional and knowledgeable. They will use convincing details such as company logos to appear legitimate. After gaining your trust, they will offer to help you optimize your use of the platform to make more money. As soon as they ask you for any details, be on your guard. This is a big red flag. 

Another example is to be contacted by someone claiming to be a representative from a fund. Not only will they promise you huge returns, but they will also provide photoshopped evidence of their earnings to “prove” they can do the same for you. This evidence is not to be trusted. And as soon as you are asked for money, you will know that you are talking to a scammer.

Will IQ Option ever contact me on social media?

No, you will never be contacted by an IQ Option employee on social media for any reason. You will only ever be contacted first through messages in your account or by telephone. If you are contacted by phone, the IQ Option representation will identify themselves, but will never ask you for any details. They will not ask you for your account details, passwords, bank details or other personal data. They will never ask you to send them money or make any deposits in your account. They will never make you any promises of profit. If someone calls you saying they are from IQ Option and they do any of this, then they are trying to defraud you.

Are there any Misleading IQ Option websites?

Yes, some scammers make websites that look like the IQ Option official website to entice you to enter your login details. Scammers will use methods to try diverting you to one of these sites. They send you an email, text message, or direct message on social media. These approaches are designed to trick you into clicking on a link or open an attachment. They do this by saying they have noticed some suspicious activity on your account. They may say there have been unusual log-in attempts or include a fake invoice. They may claim there is a problem with your account or that your payment data is out of date. Others encourage you to click on a link to make a payment for outstanding arrears.

How do I spot a scam website?

There are several ways to see whether the website you are on is legitimate or a scam. The best check is whether the websites address starts with https://. If it does, then that means the website is protected from hackers by using encrypting data transfer.  Make sure that the domain name is spelled correctly and is not a spoof. A low standard of grammar and spelling is also a strong giveaway. These websites are prepared quickly, leaving lots of room for errors.

How can I protect my IQ Option account from Scams?

The best way to protect yourself against scam is to take all necessary precautions, including using your primary email address and two factor verification. Do not use social media accounts. Set up two-factor identification and install antivirus software on your computer. Never share your login details or any of your personal data with anyone. Go to IQ Option to follow their own specific guidance on how to protect yourself. If it is too late and you are in the unfortunate position of being the victim of a scam, you must report this immediately. Contact IQ Option to provide the team with as many details as you can provide. Have you heard of any other popular scamming methods? If so, let us know in the comments below!

Conclusion

IQ Option is a reputable online broker is definitely not a scam. Their website, platform and mobile app are using the highest standards of encryption and are considered safe. The number of successful scam attacks on the IQ Option platform are below the industry average.

iq-option-sign-up-button
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

General Risk Warning: The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.

If you like this article then you might also like:

Disclaimer

eToro is a multi-asset investment platform. The value of your investments may go up or down. Leveraged and speculative product. Not suitable for all investors. You should consider whether you can afford to take the high risk of losing your money. Capital is at risk. Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision. Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk. Crypto assets are unregulated& highly speculative. No consumer protection. Capital at risk.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site is registered on wpml.org as a development site.