IQOption.com Started Scamming

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ruseneca

Master Sergeant
Messages
348
Fellow Army,

I hereby inform anyone that Iqoptoin has been spotted outside the fair and transparent business practices.
Problems with that broker started in the late December 2016 for me when I made a deposit worth $100 and lost everything because of incorrect execution of deals and impossibility to sell early an option. However, they agreed to compensate me just with around $40 for the deal that had failed to be sold earlier with some loss. I found it reasonable not to file official complaints because this was the first time I experience a problem since 2014.

Unfortunately, in the end of March 2017 the same problem occured and always after platform's upgrade!
There was incorrect execution of deals, excessive slippage of 2-3 pips away from the market price shown on chart and a very huge latency between 8-20 seconds! In such case, the company sends a notice that the price has been changed and the option has not been purchased. I didn't receive such notifications but options were executed on a different price.
According to the standard procedure for submitting complaints to CIFs, I firstly escalated my issues and asked for compensation of $30 which was the balance before the problematic day ( a profit of $20+$10 deposited ). They refused to compensate me. Instead, I received a waiver form to sign which was for a compensation of just the amount deposited - $10. I refused to sign it because I initially asked for a refund of the deposit which my account manager indirectly refused and asked to talk to me over the phone. I insisted on writing me so that I have anything black on white. He refused of course, because such important issues were not for email correspondence and are discussed over the phone.

Based on the fact that in order to submit a complaint to CySEC, you will have to pay €20 plus bank's charges which are above €20 as well ( a minimum expense of €40 just to submit a complaint against a CIF ) to their Financial Ombudsman, I assume that it is better for the company to refuse compensation of any complaints which amount less than €40 because in case Cypriot Ombudsman's decision is against client's will, it will be another loss the client. It is always better to limit losses but not for me!
Some companies just deserve to be fined every time someone spots a cheating. As for Iqoption, they were fined several times and the last time fine ( for their execution of orders as well ) was revoked. However, I can't see a better service. It is just getting worse with every single day. Proves are the constant complaints regarding incorrect execution.

Stay away from any Cypriot regulated brokers and the binary options industry as whole.
If you have trouble with a Cypriot Investment Firm ( CIF ), it will be harder to receive a compensation!
 
Hi to all,

I would like to update the topic.
Since the issues with Iqoption have not been resolved, apart from informing CySEC and consulting with their Ombudsman, I also prepared a voting thread which will be visible soon and put on voting.
I've sent a notice to Iqoption and if they find it reasonable, they may present company's statement regarding these issues.
I have attached all necessary proves in the voting thread ( screenshots, videos ) so if you need them, please refer to the voting thread as this is just a summary.
 
I normally don't do this. It's not generally polite to tell victims that they missed the warning signs. Since Ruseneca is a well established FPA member, I'll make an exception.

Binaries are evil! I told you so! :p

There, now that I've got that out of my system, let's get back to the complaint.

When you are done notifying Cysec and the Cyprus Financial Ombudsment, the FBI, CFTC, and Israeli ISA all want to hear more about bad actions of binary brokers.
 
Binaries are evil! I told you so! :p
Yes, sooner or later these companies choose the wrong turn. Iqoption is the proof.
Basically, I was trading with them only when it comes to binary options because I don't trust any other company.
I made the mistake to try another one after this case...you know what happened and how hard it was to leave and take my deposit back.
So, I will just make some corrections to the way I partially hedge the risk and use more vanilla options instead of binaries.
 
Fellow Army,

I hereby inform anyone that Iqoptoin has been spotted outside the fair and transparent business practices.
Problems with that broker started in the late December 2016 for me when I made a deposit worth $100 and lost everything because of incorrect execution of deals and impossibility to sell early an option. However, they agreed to compensate me just with around $40 for the deal that had failed to be sold earlier with some loss. I found it reasonable not to file official complaints because this was the first time I experience a problem since 2014.

Unfortunately, in the end of March 2017 the same problem occured and always after platform's upgrade!
There was incorrect execution of deals, excessive slippage of 2-3 pips away from the market price shown on chart and a very huge latency between 8-20 seconds! In such case, the company sends a notice that the price has been changed and the option has not been purchased. I didn't receive such notifications but options were executed on a different price.
According to the standard procedure for submitting complaints to CIFs, I firstly escalated my issues and asked for compensation of $30 which was the balance before the problematic day ( a profit of $20+$10 deposited ). They refused to compensate me. Instead, I received a waiver form to sign which was for a compensation of just the amount deposited - $10. I refused to sign it because I initially asked for a refund of the deposit which my account manager indirectly refused and asked to talk to me over the phone. I insisted on writing me so that I have anything black on white. He refused of course, because such important issues were not for email correspondence and are discussed over the phone.

Based on the fact that in order to submit a complaint to CySEC, you will have to pay €20 plus bank's charges which are above €20 as well ( a minimum expense of €40 just to submit a complaint against a CIF ) to their Financial Ombudsman, I assume that it is better for the company to refuse compensation of any complaints which amount less than €40 because in case Cypriot Ombudsman's decision is against client's will, it will be another loss the client. It is always better to limit losses but not for me!
Some companies just deserve to be fined every time someone spots a cheating. As for Iqoption, they were fined several times and the last time fine ( for their execution of orders as well ) was revoked. However, I can't see a better service. It is just getting worse with every single day. Proves are the constant complaints regarding incorrect execution.

Stay away from any Cypriot regulated brokers and the binary options industry as whole.
If you have trouble with a Cypriot Investment Firm ( CIF ), it will be harder to receive a compensation!


Hello!
We are sorry for your negative experience! Besides, your official complaint to CySEC, you may also send the official complaint to support@iqoption.com and we will take your inquiry into consideration.
Thank you in advance!

Have a great day!
 
Hi to all,

I would like to update the topic.
Since the issues with Iqoption have not been resolved, apart from informing CySEC and consulting with their Ombudsman, I also prepared a voting thread which will be visible soon and put on voting.
I've sent a notice to Iqoption and if they find it reasonable, they may present company's statement regarding these issues.
I have attached all necessary proves in the voting thread ( screenshots, videos ) so if you need them, please refer to the voting thread as this is just a summary.
SHOWWW MEEE THE VOTING THREADDD :p
 
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