A Manitoba (Canada) construction worker – who does not want to be named – lost $85,000 in three months.
A single dad of four, with mounting bills to pay, the 41-year-old said he thought he had found the answer to his problems online.
“Yah I just thought that this was the light at the end of the tunnel kind of a thing you know a positive future, I was excited,” he explained. He said a person, connected to an online company, was promising high returns and big payoffs every month by wagering on binary options.
“I had faith in the guy because he called me every day,” he added.
The 41-year-old also convinced two friends to get involved – the Manitoba Securities Commission said all three are out a total of $144,000.
More and more cases like this emerge and we would like to warn you of the hidden danger out there.
The Scam Works Like This:
- A fraudulent company opens a website to look like a legitimate binary options broker.
- They create a trading signals software that promises 100% accuracy, and some write 100% guarantee.
- They advertise their trading system under multiple names, with fake testimonials.
- When you join the scam, you quickly lose your initial deposit of $250 (standard first deposit).
- You then get a phone call from a “senior broker” asking you to invest $5000
How to Prevent Becoming a Scam Victim
The first step to avoid a binary options scam is to properly research the binary options broker. Most review websites only give generic information about the brokers.
- Does the broker have a license from the CFTC, CySEC, ASIC, FCA, BaFIN, or another government regulator?
- Is the broker constantly calling you to deposit more money?
- Has the broker been fined for unethical business practices by their regulatory agency?
- Never follow a trading signal unless it fits with your trading strategy.
- Historical performance is never an indication of future results.
- Check the binary options forum for traders discussions.
IMPORTANT: IQ option does not make cold calls, in fact, we do not even have a sales team. We have managers who work with customers who qualify for the VIP or pre-VIP accounts and once they see you already made a deposit and are trading, they give you a call’. Incenting the deposit is illegal and banned by CySEC. VIP department management monitors the calls, which get recorded and assessed.
Sometimes, traders write to us to complain that the IQ Option team member has called them and in a rude manner offered them to register with us and deposit a particular sum.
Fact: Pushing is in no IQ Option style. We have the lowest minimum deposit in the industry and our demo account is totally free, absolutely, no hidden fees. Why? You either like us and grow to deposit or you don’t and you leave. For now, 11 000 000 people have chosen to stay and we had no need in bugging them with calls.
If you or your friends have experienced similar negative experience or have been scammed by a broker, please share the story in the comments.
I want to know more about the robot you mention in this article, I am client and love IQ Options, great platform!! keep up the good work.
Dear Roger, we are going to release our robot software soon enough, you will be able to make your own robot or copy another trader’s one.
Okay
Let the news reach out to all members of IQoption pls,when the robot release
And by the way, when the robot will be released?
Sure, once they are released, we will notify everyone, we hope to get them released soon enough.
Hello Aleksandra!
About the Robots, I maybe wrong but here in the blog, there’s not dedicated topic so we can discuss about this important feature of Iq…
Just one thing : If a Robot seems working good, and then I make a deposit and try to implement it with real money, then, can the creator of that Robot change its settings so I see profits going down and down ? Is there any guarantee that the Robot will not be changed if it suits me ?
Thank you
Hello, Mohamed, you are right, we are not writing much about the robots yet as they are still in the beta verison and are being tested by traders. If the robot gets changed by the author, your robot (the copy) will have nothing changed, it will become the independent robot.
I like this article, I agree I suspect all those brokers who call all the time trying to convince me to deposit, I’m lucky since I’ve never fallen on their trap…. One of the reasons why I like IQ Option is that you do not call me or send me funny emails. I’ll continue with IQ Option…. Now I’m working to get a reliable strategy. Thanks IQ Option.
Dear Steven, thank you for the feedback! We understand the problem of modern information noise and that marketing becomes very pushy daily, we therefore strive to leave our customers unbugged and free to choose for themselves. Our support can help you pick a strategy if you wish.
i CANT SEEM TO BE ABLE TO FUND MY LIVE ACCOUNT
Hello, please leave us a message with the Support team, they will be glad to help.
Hey. .I deposited 250 USD …they called. ..all the time. …even when my balance was 50 USD they requested another 250 USD lump sum deposit. . Even though I pesistedly asked how to make 50 look better.
Hello! Please tell us more about the case, were these our managers calling you and asking to deposit?
Hi please inbox me when ur robot has been launched would like to give it a try. I’ve been looking for a robot thats compatible with iq iptions so far no luck. Thanx
Hello, sure, we will notify everyone on that, this will be quite a day.
Try iq bot
Hola Soy nueva, y quisiera conocer mas, sobre como poder invertir ?
Hello! Please watch this video here https://iqoption.com/es/businessmodel and these here https://iqoption.com/es/tutorials, this will hep you start.
I want a proper tutorial, how to withdraw our profit from netellar there is no info about that or tutorial and another question , is IQ option ban in india, please kindly inform me about this
Hello! We are not allowed to provide consultations on the services of Neteller, please contact their support to find out how to withdraw from Neteller.
i also thank God dat i didn’t fall into their trap,they have been trying to get my credit card number but i never fall for all their calling.i really like this platform bcos you can invest what the amount u can avoid,thanks iqoption for given the oppotunity to trade on my own.
Thank you for trusting us after such a negative experience with other brokers, this mens that we are doing the right thing.
Hey you guys use artificial robots in trading i have contacted and even barry is not answering my calls wrong execution of bets on big amounts and using of artificial bots is illegal for unfair practices .Iq option is scam.
Hello, we have checked the information, we have been trying to reach you via calls and e-mails but had no luck so far, kindly reply to your manager to further clarify the situation.
can I withdraw from IQ Option to Uphold wallet or AirTM
You are welcome to withdraw to the e-wallets listed in the Withdrawal tab of your account with IQ Option.
I downloaded Oq options, but I need an expert broker to trade for me is this possible? And how do I know that the person is not a scam?
I read about a lot of bad and life shattering comments. I just want to implore people to be careful. There are a lot of fake brokers out there and real ones to. There are also fake recovery agents and real ones. Most are out to get your money while some are really out to help you get back on your feet. I am a living witness. You can reach me on my gmai or on Facebook or Quora as Nick Whiteley.
Hello Nick, thank you so much for your comment!
Please mind that your comment was edited as it is forbidden to share contact information in the comment section.
You are absolutely right, there are unfortunately many people that pretend to be connected with brokers, but they are not.
According to IQ Option Terms and Conditions, only the owner of the account can operate it. Never send your funds to strangers and don’t buy any strategies or signals from them! Please, be wise and don’t let others take advantage of you.
If you are contacted by someone offering your quick profit and asking for money – it is scam, and you should not trust those people.
Also, please, check this article: https://blog.iqoption.com/how-to-not-get-scammed/
IQ Option Team
iq option is a scamm i believed them for a very long time…..finally today my turn came to be scammed….there are smart they dont scamm every one all at once….my manager is James Allot…scammers believe me or wait for your turn…please dont cry when your day comes
Hello Dear, how are you doing? We are so sorry that you had to face such inconvenience. Can you please tell us your issue?
Or you can contact our support at support@iqoption.com, they will definitely help you.
We thank you for your cooperation.
How real is IQ Option, hope it not a scam?
Hello Shimbo!
We are working in more than 170 countries and leading options marker for more than 5 years now.
We have Terms and Conditions that should be respected by our traders and on the other hand we fulfil all the responsibilities from our side.
If you have specific questions about IQ Option, we will be happy to assist!
I was in regular customer till…..I got a message from my bank that 5000USD were deducted from my account to IQOPTIONS without my consent. I called IQOPTIONS and though they checked and saw that it wasn’t me they told me sorry we cant do nothing about it.
Whoever stole from me traded EURO options and lost. I wonder if they won, how would they have retrieved it. They is why I went to the police and asked my bank for a full investigation.
Be careful guys.
Hello! Please note that we can not initiate a deposit from our side. If someone stole your account and deposited it and traded then your account’s and bank card’s safety is from your side. You are welcome to enable two step verification for your trading account and for your bank as well.
Hey IQ option, how far trade bot?
Hey hi, how are you?
We do not have robots, you are welcome to use tools and indicators.
Hi, is this a real email address for IQ? iqoptionbroker769@gmail.com
Your Withdrawal/Processing payment has been confirmed successfully, now your VIP IQ OPTION ACCOUNT registration has been successfully approved. You have been credited with USD 3,000.00 Bonus for our VIP membership now your current balance is USD 4,800.00. A fee of $499.00 must be paid to your trade manager to request your OTN token before you can successfully withdraw your funds. Thank you, you’re welcome to be part of our VIP membership team…
Thanks,
The Iq Option Team
I received the above email from that address, how real is this
Hey hi, it is not from us, this is some scam. We do not have such procedures and our email address are always official @iqoption.com.
Please beware of such scammers.
i just got a call, dear mam/sir, is our identity not safe ? They called us and know our names annd number, if that was not your doing, how sure are we that are identities are not leaked ?
Hey hi, we can not check here on social media, please write to support@iqoption.com if the call was from us or not.
With us, your data is completely safe. Do not worry about that!
Hi,there today i got a call from a iq option member and she said that she called me to give a full introduction about iq option. She also said that once i make a deposit of my wish,she told me to inform her through mail inorder to get VIP coaching. She also sent me a mail regarding basics of iq options. i want to confirm whether it’s true or a fake call which could lead to money loss
Thank you for getting in touch, Pardha. Could you join us in calls/chats so we can check the history of your interaction with the support team, please? That would be a great help from your side. Here is how you may reach us for a detailed consultation in this matter https://iqoption.com/en/contacts. Thank you for your time.
Hi…
I have just joined IQ option with high hopes and looking forward to trade and promote the platform to all my fellow friends. However, on my first withdrawal effort….I am amazed with how they managed and respond to trader as far as withdrawal is concerned. My withdrawal was done around mid of January until today they keep giving me the same respond….under review by department…specialist is looking at it ( maybe dumbly staring at it!)….for security reason.. be patient…etc…and they also have the nerve to say ..best experience with IQ option…reputable etc. OMG i just cant believe this!!..so to all fellow trader out there….be warned…IQ OPTION HAVE NO TIMEFRAME FOR THIS KIND OF ISSUE…means that can drag it as long as they wish ( so much for claiming reputable and specialist team)…i wish i dont have to write all this..I wish I am having best experience and continue trading at IQ Option…however till today the condition and answer still remain the same ( in fact they use template answers)….I will update again if there is any progress……so guys ..please WITHOLD your interest until my next updates…see how far and how long i have to wait …To IQ Option I am sorry to write all this…I am really disappointed to see this is happening …hopefully you will consider being more flexible, transparent and efficient in dealing with traders or investors….
Thank you for getting in touch! We are sorry to keep you waiting. Please, accept our sincere apologies. The relevant team will look into the matter and revert to you shortly.
That is the regular answers guys….please take note!!….the cycle never ends….PLEASE WITHOLD YOUR INTEREST….unreliable and inefficient system….
Hi All…at last i managed to get my money back….so …thats quite a long journey….after all the trouble…..hope IQ option can improve on the timing…and be more flexible