1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Resolved - IQ Option - Not confident I will be able to withdraw my profits

Discussion in 'Scam Alerts' started by UKStephen, Oct 3, 2017.

  1. UKStephen

    UKStephen Recruit

    Joined:
    Oct 3, 2017
    Messages:
    6
    Likes Received:
    0
    Hello,

    I've been reading a lot about this company (I am familiar with the runesca case here), and I'm a little concerned I'll never see this cash, which completely undermines the initial risk I took to get it (I'm sure any potential customers would want to know about it too!)

    What's happened:

    I used IQOption.com last week and managed to turn a £500 deposit into £9,932 in the space of about 4 hours. I withdrew £500 as soon as I doubled my money so I couldn't lose (Which I have actually recieved back from them)

    How? Simply big bets and a **** ton of luck.

    The issue seems to be getting my profits withdrawn.

    The next day I made a second withdrawal request for the remaining balance. About an hour after I made the request, they sent an email requesting photos of:

    - Front and back of ID Card (Drivers Liscence)
    - Front and back of Debit Card (with some numbers covered, and the CVV covered)
    - Selfie holding ID Card
    - Selfie holding Debit Card

    I sent the requested documents straight away. I was then asked for a clearer picture of me holding the ID, so I did so.

    Then complete silence from their email. I would have expected some correspondence by now, or even a confirmation that they had recieved them fine and the withdrawal would be processed in due course.

    I've used their live chat and phoned them many times in the meantime. Each seems to give me different information about how long it might take. One refered me to the Terms and conditions which state "Verification may take up to 30 days", but one also told me that this is rarely the case and that I should be verified within 14 days.

    Here's what doesn't add up:

    - Their "finance department" responded straight away to my withdrawal request with a request for documents, but I've heard nothing from them for 5 days.

    - My trading balance of £9400 is still present in the overall balance and availible for trading. Any online casino / broker usually ammends active balance when there is a pending withdrawal in a seperate account. It's as though they want me to continue trading and lose.

    - Their security seems so lax for such a "serious" financial service. Whenever I call or use the live chat they just ask for my email and are straight away talking about my account. No verification of my required identity then!

    - They use so much affiliate marketing, fake reviews and SEO autogen sites

    - Their "support staff" live chat photos look like stock photos. That and the standard of english is very poor.

    Here's what I suspect (Unconfirmed):

    They work on the basis that most traders will lose their money, and those that don't can withdraw up to the amount of money they put in back (But not profit).

    This grants them the illusion of trustworthiness to passing trade, given most traders are going to lose there's likely going to be few to complain. It also allows them to get the green light from people in who make a small deposit and then withdraw it back to test if they are legit.

    Here's how I will proceed:

    - I will continue to contact them daily to chase this up

    - I have documented and archived all corespondence (including live chat) as well as my trading history and operations history on the platform

    - I will draft letters to CYSEC and the Cyprus Financial Obudsman

    - I will draft a letter to their key sponsor, Aston Martin

    - I will update this thread as soon as any change in the situation occours.


    Has anyone used this broker before? Any experiences? Did you ever withdraw your profit from them?
     
  2. UKStephen

    UKStephen Recruit

    Joined:
    Oct 3, 2017
    Messages:
    6
    Likes Received:
    0
    Update: They've assured me the funds will be sent in 24 hours. I also won an additional £6k
     
  3. UKStephen

    UKStephen Recruit

    Joined:
    Oct 3, 2017
    Messages:
    6
    Likes Received:
    0
    To update I made my balance from 9.4k to 16.9k

    No more communication regarding withdrawal
     
  4. UKStephen

    UKStephen Recruit

    Joined:
    Oct 3, 2017
    Messages:
    6
    Likes Received:
    0
    upload_2017-10-4_12-8-23.



    How odd????
     
  5. UKStephen

    UKStephen Recruit

    Joined:
    Oct 3, 2017
    Messages:
    6
    Likes Received:
    0
    Ok, I canceled and made a £20k withdrawal via a verified skrill account and it seems to be going through!
     
  6. FxMaster

    FxMaster Lt. Colonel

    Joined:
    Oct 17, 2011
    Messages:
    4,846
    Likes Received:
    475
    Don't forget to update when you have funds in your skrill account :)
     
  7. UKStephen

    UKStephen Recruit

    Joined:
    Oct 3, 2017
    Messages:
    6
    Likes Received:
    0
    Credit where it's due

    I can confirm the funds were successfully revived via skrll

    [​IMG]
     
  8. FxMaster

    FxMaster Lt. Colonel

    Joined:
    Oct 17, 2011
    Messages:
    4,846
    Likes Received:
    475
    It's always good to see resolved cases. Yo mods, can you mark this thread as a resolved thread, please?
     

Share This Page